Solly Assa is a New York-based businessman that specializes in the fast-evolving real estate industry. In 2000, Assa was able to accomplish his biggest dream by founding Assa Properties, which focuses on developing and investing into major residential, retail, and commercial properties. Assa has attained incredible success since the inception of his company over two decades ago- Assa Properties has acquired over 3 million square feet of assets spread across the U.S. and Mexico to this day.
Assa was inspired to get into real estate because he was driven by the idea of making a change. He always wanted to create something different by making a big statement that is going to stand out from everything else that is already on the market. He excels at finding the best possible location to position his asset in order to capture the market, he wants to set the bar higher and change the conventional methods of property development. His in-depth knowledge and expertise have led him to realize substantial gains by selling properties that were developed by his company for a price that is higher than the cost of acquisition of the land and construction.
Assa strongly emphasizes that real estate is not a short-term business, as substantial profits are only realized in the long-term. Some of his biggest project was called Cassa hotel and residents a brand he created, a residential-hotel combination in Midtown with butter resturant headed by iron chef Alex Guarnaschelli. Cassa reimagines luxury for the world’s top real estate markets. With its seamless, high-end living, Cassa offers the best of both worlds: the comfort and stability of a home, along with the extensive services of a hotel. Cassa NY is an iconic addition to the dynamic skyline of New York City. Featuring elegant proportions and dramatically articulated windows, Cassa's striking exterior both complements and contrasts with the surrounding cityscape. An inspired addition to the architectural fabric of New York City, Cassa will provide an exceptional quality of life for the privileged few who will call it home. Some noteworthy residents include famous musicians like French Montana and Rihanna, as well as Princes from the Middle East.
Cassa Hotel and Residences has three ultra-luxe penthouses that can only be accessed by key-operated elevators, showcasing 360-degree views of Manhattan. The most captivating element of these penthouses is that they were each designed as part of Showtime's Showhouse for California Home and Design Awards where some of the best interior designers honored their favorite Showtime series, like Californication and Weeds.
The project was so successful because Assa had no trouble finding affluent buyers who desired massive homes. His uncanny ability to predict the way people would combine certain apartments was a key element for the prosperity of this project. Among some of the notable projects of Assa Properties is the Acquistion of 15 west and 19 west 55th street for $60M and less than 4 years the sale of a mixed-use property at 19 W 55th Street for $50 million and refinance 15 west 55th with Barclay’s bank for $73 million - following a major revitalization program. Another Cassa project on 45th street Valued for approximately $280 million, as well as a project in Time Square that Valued for approximately $200 million.
When looking to generate new business, Assa believes that forging strong and long-lasting relationships with clients are of monumental importance. He says that personal relationships are vital to ensuring that every client’s need is met and properly addressed. Assa says that the ultimate mission is to create the best product possible, in the best location and position for the asset. He attributes his sustained success to his intimate knowledge of market value, as well as how and when to buy.
Assa’s vision has always been to build luxury residential condominium-hotel experiences in NYC’s most distinctive areas. He is looking to expand the company’s portfolio through joint ventures, as he is always open for new ideas and opportunities. He says that it is very important to stay up to date with the evolving real estate industry by reading, learning, and doing research. If he was to give advice to anyone that is looking to mirror his success in real estate, he would tell them to be confident and redirect their fear to use it as fuel for their passion.
