As the founder and CEO of Assa Properties, Solly Assa has built his career on not only anticipating change, but also leading it. Solly aims to change the old-fashioned, conventional methods of property development and set a higher bar for the real estate industry.
Assa Properties, a company focused on developing and investing in major residential, retail and commercial properties, is Solly’s crowning achievement, founding Assa Properties in 2000. Since that time, Assa Properties has gone on to acquire 3 million square feet of real estate across the United States and Mexico.
Of Assa Properties’ many diverse, dynamic investments, Cassa Hotel and Residences in New York City is undoubtedly one of the stars of its wide-ranging portfolio. Intended for both hotel guests and residents, Cassa is a sanctuary of peace and luxury in the city that never sleeps.
Currently, there are two Cassa properties: Cassa Times Square is located on Ninth Avenue and features 108 rental apartments and 100 guest rooms. Its roof deck, equipped with loungers, a lawn and a jacuzzi, offers breathtaking views of the Manhattan skyline. Cassa NYC is located in Midtown, and consists of 165 guest rooms and 21 floors of rental units and condominiums. The development’s three penthouses boast private elevators, Showtime-themed decor and unobstructed views of the world-famous New York landscape. A third building, called Cassa Puerto Vallarta, is being developed in Mexico.
The unique way in which Solly Assa developed the Cassa Hotel and Residences brand exemplifies Solly’s philosophy and cutting-edge process when it comes to property development. During development, Solly gave buyers the ability to alter the floor plans and combine apartments into duplexes and triplexes. Having accurately predicted the desirability of this creative freedom, most of the residential units at Cassa quickly sold out. This rare approach to property development is also reflective of Solly’s success in his business strategy. Solly Assa resolutely believes in forging strong and long-lasting client relationships and values personal interaction and client needs above all.
Unlike his competition, Solly Assa focuses on the big picture: acquire excellent locations, build out profitable, sustainable developments with distinctive brands and offer amenities and options that rivals do not. In each project, Solly prefers to play the long game, accruing value over the years—rather than buying a property for the sole purpose of renovating and selling rapidly for a quick payout.
In the future, Solly Assa plans to expand the company’s portfolio through joint ventures, particularly in the North American market. and will continue to seek new opportunities.