Greystone Development’s CEO Jeff Simpson is leaving the company to launch his own real estate investment and development firm, Arch Companies.
Greystone Development’s head of acquisitions, Jared Chassen, is joining him. Thomas Ryan, who currently serves as head of operations, will replace Simpson on Jan. 1.
Arch Companies will collaborate with Greystone on existing projects and future developments, the firm said in a statement Monday.
Simpson joined Greystone in 2007 and became the CEO of its development subsidiary in 2013. Greystone Development’s portfolio spans 15 projects with a combined 1.5 million square feet in New York, California and South Florida. The company recently filed a $61 million condo offering plan for their 14-unit project at 164 West 74th Street. It also submitted plans for an eight-unit, $31 million new construction project at 108 Chambers Street in May. — Konrad Putzier