Real Estate Weekly back issues from November 2000:
Ethicist: Remember the Golden Rule.(speech by Alon Ben-Meir at the Real Estate Board of New York's Aaron Gural lecture on ethics)(Brief Article)
Nov 01, 2000; ... Ethics and business don't have to be as incompatible as oil and water, political scientist Alon Ben-Meir told real estate brokers during a Oct. 26 lecture. "In the final analysis, good ethical values are good business values," Ben-Meir said. "They will have more long-term ...
Bricks and Clicks.(real estate development news)(Brief Article)
Nov 01, 2000; ... Construction managers, more than most, are feeling technology revolution Managing construction of a $6 billion theme park in China was no small task for a project team that spanned the globe. The park owners were stationed in Burbank, Calif., but the designer was ...
Strange new world: Scene and heard at PikeNet.(PikeNet Expo)(Brief Article)
Nov 01, 2000; ... The PikeNet Expo was Woodstock for real estate technophiles, the sort of event that draws men who wear cell phones dangling from their belt loops. And when they weren't wearing them, they were speaking into them as the networking machine hummed along. The scene was typical of ...
At PikeNet: Survivors wanted.(PikeNet Expo)(Brief Article)
Nov 01, 2000; ... It didn't take much to get some attending last week's PikeNet Expo at the Hilton. Midtown to vocalize the question of the day: How many of the real estate dot-corns pitching business models at the expo would be "dot-gone" in six months? "It's going to be interesting to see who's ...
Bernhaut named to CW panel.(David Bernhaut named to Cushman and Wakefield Inc.'s national Brokerage Advisory Board)(Brief Article)
Nov 01, 2000 ... Cushman & Wakefield, Inc. has named David Bernhaut of Watchung, N.J., to its newly created national Brokerage Advisory Board. Its membership consists of 17 Cushman & Wakefield brokerage professionals from around the nation who boast various specialties, headed by Chairman John M. Cefaly, a ...
Poll shows need for greater investment in urban areas.(public investment in inner city projects)(Brief Article)
Nov 01, 2000; ... Buoyed by a national poll showing widespread support for city revitalization, two Washington, D.C.-based groups released a five-point plan to encourage more public investment in housing, transportation and other inner city projects. "For the first time, suburban and city ...
Who's News.(real estate industry news)
Nov 01, 2000 ... MANAGEMENT PERSONNEL New Jersey-based Millennium Homes reported that Matt Sprung has rejoined the company as director of acquisitions. Sprung was previously development officer for another New Jersey developer. At Millennium Homes, Sprung will be responsible for ...
Faith Hope Consolo.(and Joseph Aquino appointed leasing agent for 200 Madison Ave.)(Brief Article)
Nov 01, 2000 ... The leasing team of Faith Hope Consolo and Joseph Aquino of Garrick-Aug Associates Store Leasing, Inc., has been appointed exclusive leasing agent for 200 Madison Ave., a property located on the northwest corner of E. 35th St. The property consists of 12,315 SF on the ground ...
Eric S. Goldschmidt.(Bed Bath and Beyond to open new store)(Brief Article)
Nov 01, 2000 ... Eric S. Goldschmidt, senior partner at Goldschmidt & Associates announced that Bed Bath & Beyond will open its third Westchester County store on Central Park Avenue, Yonkers, N.Y. Goldschmidt ...
Massey Knakal Realty Services.(Brief Article)
Nov 01, 2000 ... In a transaction valued at approximately $725,000, the property at 43 Canal St. has been Sold, according to a report from Robert A. Knakal, chairman of Massey Knakal Realty Services. The property, located on the north side of Canal St., between Orchard ...
Durst announces 'CyberFellow' program for students.(Durst Organization offers "The Durst CyberFellow Internship Program")(Brief Article)
Nov 01, 2000 ... The Durst Organization has announced the formation of "The Durst CyberFellow Internship Program," which will select nine high school juniors for hands-on participation in the development and construction of the landmark NY CyberCenter at West 57th Street. The 18-month program ...
In the arena for twenty years.(interview with Michael Burak)(Brief Article)
Nov 01, 2000; ... "Real estate is a cyclical business that usually runs in 10-year cycles. So, if you are smart, you know that you should be prepared for some bad times in the not-so-distant future." So quoth Michael Burak, the president of Michael A. Burak Inc. Having celebrated 20 years in the ...
'Celebration Newark' marks city's rebirth.(Brief Article)
Nov 01, 2000 ... More than 350 people from Newark's political, business and cultural communities gathered at a major event entitled "Celebration Newark" on Sept. 21. The event was organized by Alexander Summer LLC on behalf of the Tremont Capital Corporation, the building owners, and was staged to ...
New tech center in N.J. has more than location on its side.(Brief Article)
Nov 01, 2000 ... Telco, heavy computer operations, data processing, Internet, fiber optics ... These are the key elements around which a modern business must build its foundation. And only by being positioned in facilities that offer the capability to effectively utilize customized, sophisticated technical ...
GVA Williams releases report on third quarter activity.(Brief Article)
Nov 01, 2000 ... Demand for space in Manhattan was still strong in the third quarter of 2000, but not as strong as the unprecedented levels experienced in the first half of 2000. Asking rents increased at a relatively modest rate, and overall absorption of space has leveled off. These are the findings of ...
Home Properties dividend.(Brief Article)
Nov 01, 2000 ... Home Properties declared a regular dividend of $0.57 per share for the quarter, payable on Nov. 22 to shareholders of record on Nov. 14. This dividend is equivalent to an annualized dividend rate of $2.28 per share and reflects a 7.5% increase over the company's prior quarterly dividend of ...
Telecom/technology radically alters real estate values.
Nov 01, 2000; ... With explosive growth in the demand for high-speed communications, data transfer and storage, the need for facilities to house this technology infrastucture is dramatically changing the valuation of many real estate product types. It has been reported that the demand for such facilities ...
Cushman and Wakefield names Lowery to oversee consolidation.(Christopher J. Lowery)(Brief Article)
Nov 01, 2000 ... Cushman & Wakefield has consolidated four of its existing businesses by forming the Cushman & Wakefield Advisory Group. Christopher J. Lowery was promoted to executive vice president and given responsibility to lead the group. Cushman & Wakefield president and CEO Arthur J ....
NJ waterfront alliance formed.(Hudson River Property Owners and Conservators Association endorses formation of The Performance Partnership)(Brief Article)
Nov 01, 2000 ... The public/private partnership formed to expedite completion of the Hudson River Walkway has received strong support from an association of prominent stakeholders along the waterway's blew Jersey shore. The Hudson River Property Owners and Conservators Association (HRPOCA), ...
New 150K SF space in N.J.(Morris County)(Brief Article)(Statistical Data Included)
Nov 01, 2000 ... Wm. Blanchard Co., one of New Jersey's oldest commercial builders, has begun construction on a new, state-of-the-art 150,000 SF class "A" office building at 10 Park Ave. in Hanover Twp. Mayor Ronald Francioli joined representatives of Win. Blanchard Co. at a groundbreaking ...
Lanidex in Parsippany reaches maximum capacity.(Lanidex Executive Center)(Brief Article)
Nov 01, 2000 ... Michael A. Taylor, Vice President of Lincoln Property Company, reported that they have recently achieved 100% occupancy at Lanidex Executive Center in Parsippany, N.J. It is believed that this is the first time Lanidex has been fully occupied in more than a decade. Lincoln Property Company ...
'A standing monument to Donald Trump's ingenuity...'.(Trump World Tower)
Nov 01, 2000 ... Architect Costas Kondylis was the guest speaker at the monthly luncheon of the Associated Builders and Owners Oct. 12. His topic was the nearly completed Trump World Tower, the largest residential tower in the world, which is under construction near the UN. Although the greater ...
Blatteis & Schnur.(Brief Article)
Nov 01, 2000 ... Scott Schuster Managing partner of Blatteis & Schnur has successfully represented Lucky Brand Dungarees Stores, Inc. in a 10 year ...
M.F. DiScala & Company.(Brief Article)
Nov 01, 2000 ... M.F. DiScala & Company announced the leasing of 49,043 SF to Town Fair Tire Centers, Inc. at Progress Distribution Center located at 82 W. Clark St. in West Haven, Conn. Progress Distribution Center, a 600,000 SF warehouse, is owned by ...
Christopher O'Callaghan.(Brief Article)
Nov 01, 2000 ... Convergence Asset Management a privately held hedge fund in Greenwich, Conn., is relocating its corporate headquarters from 475 Steamboat Road to 411 W. Putnam Ave., by taking 4,889 SF on the 3rd floor of the building. SOFI IV 411 Putnam, LLC, which is controlled by ...
Jeffrey H. Newman.(Brief Article)
Nov 01, 2000 ... American Express Financial Advisors, Inc. has signed a lease for an additional 3,737 SF of office space at 500 Mamaroneck Ave., increasing its total office space to 23,756 SF, according to Jeffrey H. Newman, executive vice president of W&M Properties, the marketing and managing agent for ...
Kent M. Swig.(48 Wall Street)(Brief Article)(Statistical Data Included)
Nov 01, 2000 ... Kent M. Swig, principal of Swig Burris Equities, LLC, owners of the landmark building at 48 Wall Street, announced that the building has signed a 24,000 SF lease with GMAC Commercial Mortgage Corporation. The new lease brings the building's occupancy to more than 33% or more than 100,000 ...
7,545 SF.(Two Overhill Road, Scarsdale, NY)(Brief Article)(Statistical Data Included)
Nov 01, 2000 ... An additional 7,545 SF has been leased at Two Overhill Road, Scarsdale, N.Y. This brings the total amount of space leased since the $5 million ...
Sinvin Realty Gorp.(Brief Article)
Nov 01, 2000 ... Sinvin Realty Gorp. announced recently that Thin Air Apps, Inc., a wireless information access software company, has signed a lease on a 12,000 SF space encompassing the entire 2nd floor at 591-593 Broadway, in the heart of Silicon Alley. The asking price for the space was $42 per SF and ...
Frederick Kane Marek.(Brief Article)
Nov 01, 2000 ... Vinson & Elkins, LLP, a Houston-based law firm specializing in business, finance, and tax law, has signed a new lease for 57,543 SF of space at 666 Fifth Avenue. The new lease will more than double Vinson & Elkins' current office space at 1325 Avenue of the Americas. The firm's ...
M. Alfieri Co., Inc.(Brief Article)
Nov 01, 2000 ... M. Alfieri Co., Inc. announced that it has signed a long-term lease with Porzio, Bromberg & Newman, P.C. for approximately 60,000 SF of class "A" office space at 100 Southgate Parkway in Morristown, N.J. A 150,000 SF facility, 100 Southgate Parkway is located directly off Exit 33 on I-287, ...
Frank Truesdell.(Trammell Crow Company )(Brief Article)
Nov 01, 2000 ... Frank Truesdell, senior vice president of Trammell Crow Company announced the company consummated a 200,000 SF office lease on behalf of KeyBank, USA National Association at 2 Gatehall Drive in Parsippany, N.J. Truesdell and Trammell Crow vice president Douglas Gaffney ...
Grubb & Ellis Company.(Brief Article)
Nov 01, 2000 ... Grubb & Ellis Company's Edison office recently closed a lease for the entire third floor of 1001 Frontier Road, one of the most prestigious office buildings in Somerset, New Jersey. The Grubb & Ellis team of Doug Petrozzini, senior vice president, Ray Sohmer, ...
Sumitomo Real Estate Sales, Inc.(Brief Article)
Nov 01, 2000 ... Sumitomo Real Estate Sales, Inc. announced Alfredo's of Rome has signed a 12year lease to occupy the former La Reserve restaurant space at 4 West 49th Street in Rockefeller Center. Alfredo's bought out La Reserve's 6,500 ...
Garrick-Aug Associates named exclusive agent for 63 Madison.(Brief Article)
Nov 01, 2000 ... The leasing team of Faith Hope Consolo and Joseph A. Aquino of Garrick-Aug Associates Store Leasing, Inc. has been appointed exclusive agent for a 30,000 square-foot blockfront of retail space on Madison Avenue, between East 27th and 28th Streets, near Madison Square Park. The ...
Robert Morel.(City One Real Estate and Financing)(Brief Article)
Nov 01, 2000 ... Robert Morel, director of financial services and co-founder of City One Real Estate and Financing has completed a $1,580,000 triple tax-exempt bond private placement with the New York City Industrial Development Agency. The financing was arranged for THR Products Corporation, a custom ...
City One Real Estate and Financing.(Brief Article)
Nov 01, 2000 ... Robert Morel, director of financial services at City One Real Estate and Financing, has obtained a $1,075,000 loan on a 30,000 SF industrial building located in Greenpoint, Brooklyn for Dependable Laminators, Inc. The 25-year ...
Meridian.(Brief Article)
Nov 01, 2000 ... Meridian negotiated a new mortgage of stabilizations as part of this acquisition through the New York City Industrial Development Agency. The company will benefit from a ten-year 30% electricity discount and the mortgage recording tax waiver. * A new mortgage of $10,125,000 was ...
Joseph Taub.(Meridian Group)(Brief Article)
Nov 01, 2000 ... A new mortgage of $3,600,000 was placed by Meridian on a 4-story Mixed-Use Building (Taxpayers Included) on Canal Street in Lower $2,800,000 on a ...
Aaron M. Birnbaum.
Nov 01, 2000 ... A new mortgage of $2,200,000 was negotiated by Meridian on a 6-story, 68-unit, Elevator Apartment Building on Booth Street ...
GCP Capital Group.(Brief Article)
Nov 01, 2000 ... GCP Capital Group has placed a $7,200,000 permanent loan for a 16-story, double elevator, Class B pre-war residential building containing 277 rooms and 3 commercial spaces, located on West 75th Street between Amsterdam and Columbus ...
Paul Greenbaum.
Nov 01, 2000 ... GCP Capital Group has arranged mortgage financing for the following two properties: * A two-year permanent loan in the amount of $3,000,000 for an existing warehouse building to be converted into a 138-unit luxury loft apartment building, located on Communipaw Avenue in Jersey ...
Adam Brostovski and Sandy Marks.
Nov 01, 2000 ... GCP Capital Group has arranged mortgage financing in the aggregate amount of $10,530,000 for the following properties: $1,700,000 for a five-story, elevator loft building, located on Murray Street in Manhattan; $1,700,000 for a three-story commercial building ...
Matthew Classi.
Nov 01, 2000 ... GCP Capital Group has arranged mortgage financing in the aggregate amount of $5,100,000 for the following multi-family properties: $2,062,500 for two contiguous, five-story, walk-up apartment buildings containing 17 apartments with 58 rooms and 3 stores, located on East 7th ...
M&T Bank.
Nov 01, 2000 ... The commercial real estate department of M&T Bank's New York City division closed $109,381,000 in loans in the third quarter of 2000, according to Sam Giarrusso, senior vice president. Thirty-three loans were made on office, loft office, multifamily residential, retail, and industrial ...
Mercury Capital Corporation.
Nov 01, 2000 ... New York-based Mercury Capital Corporation announced it has recently provided first mortgage financing ...
Emigrant Funding Corporation.
Nov 01, 2000 ... Emigrant Funding Corporation, a subsidiary of Emigrant Savings Bank, has announced the closing of 30 loans totaling $7,963,000.00 * Purchase for $220,000 for a four story walk-up w/18 apts., located in North Bergen, NJ. * Purchase for $200,000 for a four story walk-up ...
Firm hired to design school.
Nov 01, 2000 ... Swanke Hayden Connell Architects has been awarded a contract with the New York City School Construction Authority to design a new school building, P. S. 263, on Jamaica Avenue in Queens. The architects prepared a feasibility study at the beginning of the year. The new school is ...
CoStar unveils new service.
Nov 01, 2000 ... CoStar Group, Inc. announced that it is creating CoStar Connect, a service that will allow commercial real estate firms to license CoStar's technology and content to market property listings on their corporate web sites. Upon its release, CoStar Connect will offer commercial ...
Tenants, owners, adapt to changing market fundamentals.
Nov 01, 2000; ... The Manhattan commercial real estate market finds itself in a unique position in the fourth quarter of another year of decreasing availability and increasing rental rates. Lack of space is causing expanding companies to consider re-locating all or portions of their operations beyond ...
Architects work on Elizabeth space.
Nov 01, 2000 ... All-Ways Forwarding International, Inc. has utilized the services of Jarmel Kizel Architects and Engineers for their 7,000 SF new offices in Elizabeth, N.J. Located at 701 Newark Ave., the three-story building was acquired by All-Ways Forwarding to serve as their corporate headquarters ....
Peace is at hand as MLS sides join together.
Nov 08, 2000; ... A united MLS? Yes! The New York City real estate industry has joined the rest of the country in creating a listing service that will feature virtually every piece of Manhattan residential property that is being sold or rented. Over 115 companies -- ranging in size ...
ABO watches paint appeal.
Nov 08, 2000; ... A state Supreme Court judge overturned the city's new lead poisoning prevention law that went into effect November 1999, saying the City Council did not follow proper environmental review procedures before passing it. Under state and city regulations, an environmental impact ...
Midtown West: The final frontier?
Nov 08, 2000; ... Brokers sell it as "Midtown West." Those who live there and have for a decent amount of time refer to it in less marketable terms as Hell's Kitchen. Many in the real estate community classify it (roughly, west of Eighth Avenue and south of 59th street) as the final frontier, a ...
Ackman-Ziff honored for financing deal of year.
Nov 08, 2000; ... The Real Estate Board of New York (REBNY) recently announced that Ackman-Ziff Real Estate Group won the Most Ingenious Financing Deal of the Year Award. AckmanZiff garnered the award for the acquisition financing of the Guardian Life Building annex (105 East 17th Street). This ...
Digital Island leases 215,000 SF in Brooklyn telecom center.
Nov 08, 2000 ... In response to New York City's growing embrace of e-business, San Francisco-based Digital Island has leased 215,000 SF in Brooklyn's new Atlantic Telecom Center, a 750,000-sf telecom facility currently under development by Carlyle Realty and Chase Capital Partners. The transaction marks ...
ACORN to meet owner in court.
Nov 08, 2000; ... On Sept. 20, Real Estate Weekly reported on an incipient legal skirmish between a tenant's rights group called Bronx ACORN and a Bronx property owner. Rosenberg Diamond Development Corporation (RDD) -- the property owner -- sued ACORN earlier this year alleging, among other ...
Better brownfield bill proposed.
Nov 08, 2000; ... In addition to gingerbread cookies and stuffed stockings, land developers in New York City might have another reason to get excited about the upcoming winter holidays. A new, less restrictive brownfields bill is going to be reintroduced to the New York state senate next month, which may ...
MANAGEMENT Who's News PERSONNEL.
Nov 08, 2000 ... Martha McDonald-Goupit has become a principal of Caran Properties, Inc., a Manhattan-based real estate company specializing in property and asset management for private and institutional investors. McDonald-Goupit, Caran's director of property management since 1998, will ...
Michael A. Burak, Inc.
Nov 08, 2000 ... Michael A. Burak, Inc. has been named the managing and leasing agent for the more than one-million-square-foot Queens Atrium Corporate Center in Long Island City, Queens, according to Michael A. Burak, the firm's president. The Queens Atrium Corporate Center, formerly known as ...
CB Richard Ellis.
Nov 08, 2000 ... CB Richard Ellis has been named the exclusive leasing agent for the 66,000 RSF office building located at 115 Summer St. in Stamford, Conn. ...
Blatteis & Schnur.
Nov 08, 2000 ... Blatteis & Schnur's managing partner, Scott Schuster, is now representing LUCKY Brand Dungarees on their second N.Y. location at 1151 Third Ave. The 2,125 SF store is ...
Trump headlines ABO dinner.
Nov 08, 2000 ... Associated Builders and Owners of Greater New York (ABO) honored key industry players at their 90th anniversary dinner dance on Nov. 1 at the New York Marriott Marquis Hotel. Donald Trump presented the 2nd Annual Fred C. Trump Award to Donald Zucker, chairman of Donald Zucker Company. ...
A different kind of MLS.
Nov 08, 2000; ... According to Ralph Barocas, one of the founders of Rent-Direct.com, he realized the potential of bringing Internet to real estate early on. In the 1980s, while working as a rentals agent, Barocas got involved in trying to create the first Multiple Listing Service for the New York region ....
Retail market: Been there, done that.
Nov 08, 2000; ... Anyone who lives in New York can see that retail is not simply about the status quo. The constantly changing landscape welcomes theme restaurants like the All-Star Cafe or Motown Cafe one moment, and closes them down for lack of interest the next. What plays out of town at the Mall of the ...