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Jacob Chetrit, a prominent New York real estate investor and member of the influential Chetrit family, has died, The Real Deal reported Saturday. His death was announced by the Ohel Moshe Synagogue, and funeral services were held on Sunday, Jan. 5 in Israel.
As one of the four Chetrit siblings, Jacob was a major investor in Manhattan and South Florida real estate.
Alongside his brother Juda, he led the Chetrit Organization, which owned notable properties, including a 366,000-square-foot building at 1 Whitehall Street in New York’s Financial District. The duo also had major prospects underway in Pompano Beach and Hollywood Beach in Florida.
The Chetrit brothers — Joseph, Jacob, Meyer and Juda — originally operated under the Chetrit Group until splitting in 2010. Despite the split, they continued collaborating on select ventures.
Jacob remained an active force in the industry in his later years. In 2020, he made headlines with an $815 million agreement to purchase the Daily News building from SL Green, a deal that ultimately fell through during the pandemic.
He also sold the company’s 617,000-square-foot office building at 850 Third Avenue in 2023.
Most recently, the Chetrit Organization faced financial challenges, with foreclosure proceedings on its Whitehall Street and 428 Broadway properties. However, refinancing efforts saved its Hollywood Beach and Pompano Beach projects from a similar fate.
