Renowned NYC real estate mogul and Republican donor Stanley Chera, 70 who cofounded Crown Acquisitions had died of Covid-19 complications, a source close to the deceased has told a popular American cable news channel. The news was first broke and confirmed by journalist Yashar Ali. Chera’s entered the real estate business by buying the retail buildings that held his family’s chain of children’s specialty stores; he later on named the holdings Crown Acquisitions according to the data displayed by the company’s official website. It ultimately stepped out of the retail stores following divestments and got into the real estate. Crown’s holdings holds several iconic New York properties including the Cartier Mansion and The St. Regis New York.
The developer was also friends with President Donald Trump. The late Republican donor from 2016 to 2019 donated a total of USD 402,800 to Trump for his presidency campaign and organizations such as President Inc. and Trump victory that rooted for Donald J. Trump.
Chera-owned Crown Acquisitions in 2008 penned a deal with Trump’s son-in-law and White House senior adviser Jared Kushner’s firm The Kushner Companies and private equity firm The Carlyle Group. Following the consummation of deal Crown and Carlyle got a stake in the retail portion of the building at 666 5th Avenue in New York City that was originally owned by Kushner Companies. The skyscraper ended up as a trouble property compromising Kushner Companies’ portfolio for year before eventually being released to Brookfield Properties in 2018.
Chera introduced Trump at the NYC Veteran’s Day parade last Nov calling the president “my dear friend.
“And he is a great guy and he is ben with me from the beginning.” Trump said about Chera.
The New York Post reported Chera’s hospitalization and treatment for virus on March 24. Trump last month also revealed about a friend of is grappling the vicious virus and falling into a coma. It is now believed Trump was talking about the health of his real estate friend as facts of Chera’s illness match with what President described.
“We thought they were going in for a mild stay, and in one case, he was unconscious, in a coma.”
“And you say, how did that happen?” said Trump.
Three individuals have confirmed that President was referring to Chera in his comments while two sources claimed that Chera was in a medically inducted coma due to the complications related with the virus. Trump later said that he had some friends that are unbelievably sick from the infection but didn’t give any details.
Chera’s family have not commented on his friendship with the Republican President. While being a well-known business magnate, the Real estate businessman was also involved in charities and philanthropic causes like soup kitchens. However, his ultimate passion was the support of special needs children. Chera was also a cofounder of the not-for-profit Sephardic Community Center in Brooklyn.
Paying homage to the Chera, the community center remembered him in a statement:
“He was a very special man, loved by all. His devotion to so many of our community institutions is unmatched.”