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acob Chetrit, a prominent figure in New York City's real estate scene and owner of the Chetrit Organization, has passed away at 69. The news was announced by his synagogue, Ohel Moshe Synagogue in Brooklyn, according to The Real Deal.

    Chetrit made a name for himself with the Chetrit Organization, which he spun off from his brothers' company, the Chetrit Group, in the 2010s. The organization owns several notable properties, including the 21-story office building at 1 Whitehall Street and the six-story office building at 428 Broadway.

    Despite facing foreclosure notices on some of these properties, Chetrit was a respected figure in the industry for his ability to turn undervalued assets into successful ventures. "Jacob has been one of the behind-the-scenes geniuses, figuring out how to buy something that nobody wants and turn it into something that everybody wants," said Jonathan Mechanic, chairman of Fried Frank's real estate department.

    Chetrit was also active in Florida, where he developed projects with his brother Joseph. His father, Simon Chetrit, had a successful textile business in Morocco before the brothers entered the real estate industry. The Chetrit Group, founded by Jacob and his brothers in the 1980s, became a major player in New York City real estate in the 2000s.

    Funeral services for Jacob took place on Sunday, as reported by TRD.