History
Since 1972, Sterling Equities (SE) and its affiliates have purchased or developed over 23.3 million SF of commercial property, 57,800 residential units, 8.7 million SF of retail property and four major sports complexes. SE has evolved over the last three decades into a diverse family of companies focused on the creation of wealth and preservation of capital.
- 1972: SE was founded by Fred Wilpon and Saul Katz as a vehicle to develop and invest in real estate.
- 1980: SE acquires
partnership interest in the New York
Mets.
- 1985: SE makes venture
capital investment in PathoGenesis Corporation,
a medical research company focused on
treatments for cystic fibrosis.
- 1990: SE joins with
American Securities Capital Partners to
form the first of five investment funds
that have invested in and managed real
estate in 43 states.
- 1997: SE makes venture
capital investment in Changing
World Technologies (CWT), a bio-energy
company focused on emerging technologies
in the energy and environmental arenas.
- 2001: SE brings baseball back to Brooklyn. Formed the Brooklyn
Cyclones, as an affiliate of the New York Mets. The team plays at MCU Park, which was constructed by executives, now currently part of the Sterling Project Development Group.
- 2002: SE becomes full
owner of the New York
Mets.
- 2002: SE funds Sterling
Stamos Capital (SSC), and keeps a
limited partner interest.
- 2005: SportsNet New
York (SNY), a regional sports network
in the New York tri-state area, is formed
by SE in partnership with Time Warner
Cable and Comcast Corporation.
- 2007: Sterling American Property, Inc. launches Sterling American Property V, a $609 million private equity real estate fund.
- 2010: SE forms Sterling Project Development Group ("SPD") to formally brand its project consulting expertise.
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