Sugar Hill Capital Partners

Sugar Hill Capital Partners is a real estate investment company founded in 2009 whose main objective is to invest in middle-market distressed apartment buildings in New York City which are ripe for conversion to meet the needs of the current demand for contemporary commodious accommodations in newly emergent housing market arenas and also to improve The Neighborhoods in which they are situated.

The firm was founded by David Schwartz and Alex Friedman. The company is known for commissioning art work for its buildings and principal Alex Friedman is an avid art collector himself. In one instance Friedman was convinced by the artist and gallerist Avi Gitler to sponsor the Audubon Mural Project, a series of murals inspired by The Famous Birds of America series of watercolors by John James Audubon to adorn among other surfaces the entrances to Sugar Hill Capital Partners' owned storefronts in Washington Heights, Manhattan, the neighborhood where Audubon himself lived in the final years of his life. With the help therein of Mark Jannot of the Audubon Society the ongoing series of works so far depicts some eighty odd out of the 314 species of North American Birds which are endangered due to climate related developments and brings attention to the nature organization's efforts to save them. Since 2013 Sugar Hill Partners has also run and offered artists studio space in their "Studio Program".

In one of the rapidly growing firm's biggest deals to date they purchased 1 Prospect Park West (formerly known as "Prosspect Park Residence", a nursing home) in Park Slope, Brooklyn for $84 million dollars from Madison Realty capital (the holders on the debt from the previous owner who fell into foreclosure, Haysha Deitsch) for conversion to luxury apartments. According to Ofer Cohen ..."this is one of the most iconic buildings in Brooklyn and is one of very few large residential sites currently available in Brooklyn that could be developed into a scalable residential project...". Prior to the sale there had been some controversy as elderly residents were evicted and when that process took longer then expected Sugar Hill sued Deitsch for taking too long in the eviction process. Deistch eventually defaulted. Meanwhile the families of a number of the evicted residents sued among other entities, Deitsch. Some parties were eventually compensated by Deitsch