Company History

Pink Stone Capital Group was founded by Richard Ohebshalom in 2010. Ohebshalom set out to build upon the operational expertise he developed over more than a decade in NYC’s multifamily sector, with a renewed emphasis on entrepreneurial and creative energy across the platform. Pink Stone has since evolved into a nimble, diversified investment firm with a reputation for acquiring off-market assets at values significantly less than replacement cost, affording the opportunity to execute best-in-class developments generating outsized returns.  Illustrative examples include the following:

  • The acquisition of a distressed property at 180 Nassau Street in Brooklyn, which Pink Stone subsequently developed into a market-leading 103-unit luxury rental building.
  • Achieved significant victory with the New York City Landmarks Preservation Commission allowing for an additional 100,000 square feet of buildable space, which spurred the conversion of a long-held two-story building located at 250 Fifth Avenue into a 23-story luxury hotel, currently slated to open in Fall 2022.
  • The development of the Greywood, a 75,000 square foot luxury apartment building in Manhattan’s Midtown South neighborhood.
  • The acquisition of distressed properties at 111 and 105 Washington Street, and appurtenant development rights. 111 Washington Street is currently under development, slated to yield more than 400 rental units over 60+ stories in Manhattan’s Financial District, in conjunction with partner Grubb Properties.

The firm’s name was inspired by one of Ohebshalom’s earliest mentors and supporters, who passed away after a long battle with breast cancer. Pink Stone’s growth pays homage to her memory, and over time has grown to encapsulate a passionate, artistic approach to investment and management. In a world filled with blue, gray and black, the juxtaposition of Pink and Stone emphasizes a holistic, arts and sciences focus on community engagement and value creation.

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