Real Estate Weekly back issues from March 2002:
Bribery scandal rocks industry: City caution expected in future assessments.(tax assessor scandal in New York City)(Brief Article)
Mar 06, 2002; ... With the recent indictment of city tax assessors, real estate attorneys are expecting the city to exercise more caution with property tax assessments in the coming months. "I expect that, for a period of time, there will be extreme sensitivity with respect to tax assessments," ...
Bribery scandal rocks industry: No building owners implicated.(New York City tax scheme; indictment of 18 Manhattan tax assessors)(Brief Article)
Mar 06, 2002; ... No building owners have yet to be implicated in the tax scheme that shook the real estate industry last week with the indictment of 18 Manhattan tax assessors accused of cutting property taxes for bribes. These indictments--part of an ongoing investigation by the Manhattan ...
AOL Time Warner tops out.(New York City development)(Brief Article)
Mar 06, 2002; ... In an effort to keep the AOL Time Warner project fresh in the minds of New Yorkers, The Related Companies and Apollo Real Estate Advisors held a topping out ceremony for the building's steel podium on Feb. 27. The event marked the completion of the steel base of the structure. The entire ...
Whitehead to REBNY: Positive spin to future. (Lower Manhattan Development).(Real Estate Board of New York )(Brief Article)
Mar 06, 2002; ... A few months after Sept. 11, Governor George Pataki called John Whitehead asking him to chair the Lower Manhattan Redevelopment Corporation. Instead of jumping at the offer, Whitehead took out a yellow notepad. Then he listed the pros and cons beneath separate columns. "And the ...
C&W merger to create new firm in China.(Cushman & Wakefield )(Brief Article)
Mar 06, 2002 ... It was announced that the Asia Pacific division of international real estate services firm Cushman & Wakefield and leading asset services company PREMAS International (a subsidiary of CapitaLand), have joined forces to create the first truly integrated real estate services business in ...
Blood drive to benefit Halstead's Chancer.(Brief Article)
Mar 06, 2002 ... Halstead Property Company will be holding its second annual blood drive to benefit broker Kay Chancer, who needs a kidney transplant, March 7 from 9:15 a.m. to 3:45 p.m. The drive, co-sponsored by Lenox Hill Hospital, will be conducted at the Halstead office at 1356 ...
Correction.(Brief Article)
Mar 06, 2002 ... A photo on page 12 in the Feb. 27 edition of Real Estate Weekly ...
All bets are off with OTB sale.(New York City's off track betting parlors)(Brief Article)
Mar 06, 2002; ... The transformation of New York City's 70-odd OTB parlors looks unlikely after Mayor Michael Bloomberg said last week that the $1 billion a year business would not be sold. The Giuliani administration attempted to forge a partnership last summer between the city and a Canadian entertainment ...
Century 21 reopens downtown.(Brief Article)
Mar 06, 2002; ... After a $10 million renovation, Century 21 re-opened their flagship store last week at 22 Cortlandt St. directly across from Ground Zero. Century 21's only Manhattan location has been a staple of downtown retail for over 20 years. "Pretty soon, you'll be able to buy ...
Management personnel: Who's news.
Mar 06, 2002 ... Fast Company magazine named Damon Gersh as one of its "Fast 50" innovators. Gersh is president of Maxons Restorations and was selected for his role in the restoration of Lower Manhattan in the weeks following Sept. 11. He and his firm cleaned and repaired office buildings, ...
Agents. (On the Real Estate Scene).(GVA Williams, NAI James E. Hanson Inc., Corporate America Realty and Advisors, CB Richard Ellis receive contracts)(Brief Article)
Mar 06, 2002 ... GVA Williams has been appointed as the exclusive leasing agent for the following properties: * Woodbridge Corporate Center, a 630,000 SF office complex in Woodbridge, N.J.; * 3001 Woodbridge Ave., a 310,000 SF building in Edison, N.J.; * The Offices at ...
Sales. (On the Real Estate Scene).(buildings bought, sold in New Jersey, New York City)(Brief Article)
Mar 06, 2002 ... First Industrial Realty Trust announced the purchase of 400 Raritan Center Parkway and 300 Columbus Circle in Edison, N.J. for $14 million. Cushman & Wakefield represented the seller, The Principal Life Insurance Company, in the transaction. The buildings contain a total of 203,000 SF. ...
A "Chip" off the old block. (Profile of the Week).(Leon "Chip" D. Marrano III, president of Marson Construction Corp.)(Brief Article)
Mar 06, 2002; ... LEON (CHIP) D. MARRANO III, PRESIDENT MARSON CONSTRUCTION CORPORATION A construction manager observes, but the general contractor acts. In other words, the G.C. assumes all of the risks in performing a construction project while the CM simply monitors the performance ...
GAO report: Terrrorism insurance needed.(General Accounting Office)(Brief Article)
Mar 06, 2002 ... A General Accounting Office (GAO) report released recently underscores the urgent need for Congress to pass terrorism insurance legislation to avoid further economic disruption, according to The Real Estate Roundtable's president and COO, Jeffrey D. DeBoer. "Each day, property ...
Acampora to address IREM March 12.(Brief Article)
Mar 06, 2002 ... Ralph Acampora, managing director of Technical Research at Prudential Securities will be the keynote speaker at The Greater New York Chapter of the Institute of Real Estate Management's (IREM) monthly luncheon on March 12 from 11:45 a.m. to 1:30 p.m. at the Williams Club, 24 East 39th St ....
Former C&W executive director forms Hanley Advisors.(James H. Coleman forms consulting firm)(Brief Article)
Mar 06, 2002 ... James H. Coleman, the biggest producer in recent Cushman & Wakefield history and one of the real estate industry's most successful deal-makers, has formed Hanley Advisors, LLC, a high-end strategic planning firm with a focus on Global 2000 companies. The boutique consulting ...
RHR Air-Conditioning to do Bleeker St. job.(receives heating, air-conditioning systems contract)(Brief Article)
Mar 06, 2002 ... Working in conjunction with one of the largest property management firms in the city, Century Operating Corp., RHR Air-Conditioning has been named exclusive contractor for the removal of up to 500 water source heating pumps manufactured by Friedrich more than 30 years ago, to be replaced ...
Downtown fueled by bank lease.(Bank of New York's lease helps boost New York City's office market)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... Fueled by Bank of New York's 821,000-square-foot month-to-month lease at 15 Broad Street, the Downtown office market recorded a robust month with activity totaling 1.07 million SF - just shy of the 1.17 million SF leased in January 2001. Bank of New York, displaced from 101 Barclay St ....
Real Estate Board of New York Inc. 2002 Annual Banquet at The New York Hilton Hotel Thursday, January 17, 2002.(Brief Article)
Mar 06, 2002 ... Over 2,700 of the real estate industry's finest, joined by numerous dignitaries and guests, attended the l06th annual Real Estate Board of New York banquet on January l7th at the New York Hilton. Highlight of the evening was a touching ceremony m which real estate legends Bernard Mendik ...
RSA to use NTN for tenant screening service.(Rent Stabilization Association of New York City Inc.'s Court & Credit service partnered with NTN Inc.)(Brief Article)
Mar 06, 2002 ... The screening process of prospective tenants for 25,000 owners of the city's 1.1 million rent stabilized apartments just got more comprehensive. That's because Court & Credit[TM], the tenant screening service of the Rent Stabilization Association of New York City, Inc., has partnered with ...
Men cleared of bribery charges.(Gene E. Phillips, A. Cal Rossi, Jr. of Basic Capital Management, Inc.)(Brief Article)
Mar 06, 2002 ... Basic Capital Management, Inc. ("BCM") announced that Gene E. Phillips and A. Cal Rossi, Jr. have been acquitted of all charges in the U.S. District Court, Southern District of New York. Messrs. Phillips and Rossi had been indicted in June 2000 in connection with an alleged scheme to bribe ...
National Cooperative Bank posts record year.(Brief Article)(Company Profile)(Statistical Data Included)
Mar 06, 2002 ... The New York real estate team of National Cooperative Bank posted a record year in 2001, completing more than 289 transactions totaling more than $373 million. In contrast, NCB recorded 171 financing transactions, valued at more than $205 million in 2000. Most of the refinancing ...
Castle clears employees for Army Reserves duty.(Brief Article)
Mar 06, 2002 ... Castle, the largest independent fuel distributor in the New York metropolitan area, has guaranteed reservist employees an extended leave of absence if the government calls them to duty. The company also assures full reinstatement to former positions for any employee required to serve, ...
Deutsche Bank combines RE investment management groups.(DB Real Estate)(Brief Article)(Company Profile)
Mar 06, 2002 ... Deutsche Bank announced that it has combined the operations of its existing real estate investment management groups of Deutsche Asset Management (Australia) Limited, Deutsche Grundbesitz (Germany), Deutsche Bank Real Estate Private Equity Group (London), Deutsche Property Asset Management ...
BOMA gives Pinnacle awards.(Building Owners and Management Association)(Brief Article)
Mar 06, 2002 ... Leaders of the real estate industry and New York City's uniformed services joined together on the evening of February to celebrate the city's best-managed buildings with the BOMA/NY Pinnacle awards and to pay tribute to the outstanding accomplishments of their members in the Sept. 11 ...
BMAR selects honorees.(Bronx Manhattan North Association of Realtors )(Brief Article)
Mar 06, 2002 ... The banquet committee of the Bronx Manhattan North Association of Realtors unanimously selected the honorees to be recognized at its annual realtor banquet. These will include Carol Keenan, of the Bronx Realty Advisory Board, Earl H. Washington, of United Realty Services, Inc., ...
Around the Town: Events Seminars Meetings Talks.
Mar 06, 2002 ... New York Real Estate Institute February & March -- Real estate appraisal and continuing education courses will be offered from 6 to 10 p.m. at 22 West 34th St., fifth floor. Appraisal Ethics & Standards will be held Feb. 12, 13, 19, and 21 and AQ 1 Fair Housing will be held Feb ....
Appraisal Institute revamps web site. (Technology Update).(Brief Article)
Mar 06, 2002 ... Featuring a fresh, sharp look and improved features, the Appraisal Institute proudly introduces its redesigned web site, www.appraisalinstitute.org. The web site's features include new functions on the home page such as direct log-in for the Members Only and Online Education areas; ...
Price for Fidelity's online agent desktop drops by 60%. (Technology Update).(Fidelity National Information Solutions On-Line Agent 4.5)(Brief Article)
Mar 06, 2002 ... Fidelity National Information Solutions, the nation's most comprehensive source for real estate-related data, services and solutions, has reduced the price of its On-Line Agent Desktop CRM application by more than 60%. This unprecedented price reduction coincides with the release of ...
Guide2mortgage grows by 150%. (Technology Update).(participating lenders)(Brief Article)
Mar 06, 2002 ... The commercial real estate mortgage lender directory, Guide2mortgage.com, announces that in the six months since its Aug. 1, 2001 launch, the number of participating lenders has grown 150%. Publisher Chris Koch said, "We are very pleased with the response we are receiving from ...
Leases.(Industry Overview)
Mar 06, 2002 ... CRESA Partners announced that Lazard Freres & Co. LLC has signed a 10-year,7,900 SF sublease at 600 Fifth Ave. in New York City. Frederick Marek and Vincent Tuminelli, of Julien J. Studley, represented the tenant in the transaction. CRESA Partners represented the sublandlord, NIB ...
Levin Management marks 50th anniversary. (New Jersey).(renovates North Plainfield headquarters)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... Levin Management Corporation recently marked its 50th anniversary with completion of a major renovation and expansion at its headquarters building on Route 22 West in North Plainfield. The project enlarged Levin's office space by more than 60 percent while updating the offices that the ...
First Industrial reports strong activity in 2001. (New Jersey).(First Industrial Realty Inc.)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... Hayden Tiger, regional director, First Industrial Realty Trust, Inc., reports a successful year for the premier industrial REIT in 2001. This past year First Industrial was able to maintain its position as one of the most active industrial development companies in the New Jersey ...
Hackensack space available. (New Jersey).(Fleet Bank of Rhode Island marketing office space)(Brief Article)
Mar 06, 2002 ... William C. Hanson, SIOR, president, NAI James E. Hanson, Inc., reports the firm is marketing, in conjunction with Hampshire Management Co., four prime office facilities on behalf of Fleet Bank. Totaling approximately 115,000 SF of quality office space, these sublease opportunities are all ...
Encore Monroe open for business. (New Jersey).(Spectrum Skanska Inc. joint venture with The Kalian Co.)(Brief Article)
Mar 06, 2002 ... Sales for the first neighborhood of elegantly-designed, single-family ranch homes opened to the public Feb. 9 and 10 at Encore Monroe, an intimate gated community of 394 residences with a host of amenities for those 55 and better, rising in Middlesex County's desirable Monroe Township. ...
Amenities abound at 333 River Street. (New Jersey).(Applied Development Co. joint venture with Starwood Heller)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... A spectacular offering of Manhattan-style, recreational amenities has officially opened for resident use at 333 River Street, the new luxury rental building on Hoboken's southern waterfront. The unveiling of the comprehensive amenities package comes as the building continues to ...
Real Estate Finance.(mortgage lenders investments, New York City)(Statistical Data Included)
Mar 06, 2002 ... Meridian Capital Group announced the following transactions: * A new mortgage for $10.425 million on a commercial building on West 27 Street. The property will benefit from a rate of 6.75%, with a 7-year term. Saul Filler & Avi Weinstock handled this transaction. * A ...
Galo Shoes moves to Manhattan's Upper Eastside. (Retail New York).(shoe store)(Brief Article)
Mar 06, 2002 ... The leasing team of Faith Hope Consolo and Joseph Aquino of Garrick-Aug Worldwide, Ltd., has arranged the leasing of Galo Shoe's new location on the upper east side of Manhattan, at 1296 Third Ave., between 74th and 75th Streets, adjacent to Searle. Both locations were formerly a part of ...
Mott St. space goes to Garrick-Aug. (Retail New York).(Nolita leasing contract to Garrick-Aug Worldwide Ltd.)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... The leasing team of Faith Hope Consolo and Joseph Aquino of Garrick-Aug Worldwide, Ltd. is the exclusive agent for the prime retail space at 200 Mott St., between Spring and Kenmare, in Nolita. Formerly Melissou, there are 700 SF at the ground level and 700 SF of basement space. The ...
AJ Wright opens Pelham Manor store. (Retail New York).(tenant of Levin Management Corporation)(Brief Article)(Statistical Data Included)
Mar 06, 2002 ... A.J. Wright, the newest off-price retail chain of The TJX Companies Inc., has joined the tenant roster at Pelham Plaza in Pelham Manor, New York, announced David Silver, corporate director of marketing for Levin Management Corporation. Levin serves as managing, construction and leasing ...
Vitamin Shoppe opens 100th store. (Retail New York).(New Jersey)(Brief Article)
Mar 06, 2002 ... The Vitamin Shoppe, one of the fastest growing retailers in the country, has unveiled its 100th store. Founded in 1977, The Vitamin Shoppe opened its first retail store in New York City and has subsequently experienced extraordinary growth resulting in locations in 11 states across the ...
Janovic/Plaza opens Church Street store. (Retail New York).(Janovic provides residential, industrial and commercial coating as well as home decorating products; Insignia/ESG's Retail Group and Heller Properties representatives)(Brief Article)
Mar 06, 2002 ... In a highly visible vote of confidence for downtown's retail market, Janovic/Plaza, Inc. has just signed a 16,500-SF ten-year lease to open its tenth Manhattan store at 136 CHURCH ST., just four blocks north of the former World Trade Center site. Established in 1888 in Manhattan, Janovic ...
Horst Design instrumental in Century 21 reopening. (Design and Development).(damaged in September 11 terrorist attack)(Brief Article)
Mar 06, 2002 ... After the lower level of the Century 21 department store was damaged on Sept. 11, the owners retained Horst Design International to completely gut and upgrade the 30,000-SF basement area that housed the home section and men's/ children's shoe department. Century 21 is located on Cortlandt ...
Trinity taps Richard Henry Behr for Hudson Street lobby project. (Design and Development).(Trinity Real Estate hires architect)(Brief Article)
Mar 06, 2002 ... Trinity Real Estate has tapped well-known architect Richard Henry Behr to design and oversee the completion of a new lobby and entrance area at 205 Hudson St. Stephen Heyman, director of commercial real estate leasing of Trinity, made the announcement. 205 Hudson Street (AKA 480 ...
Bogdanow designs Beekman Kitchen. (Design and Development).(casual restaurant in New York City)(Brief Article)
Mar 06, 2002 ... Larry Bogdanow and his staff have designed a new, casual restaurant at 1239 Second Ave. and 64th St. Called the Beekman Kitchen, it is a combination restaurant, bar, retail space, and eat-in counter, featuring freshly prepared foods in front of an open kitchen and hearth. The overall ...
MASterwork awards granted. (Design and Development).(Municipal Art Society of New York announces recipients of MASterwork Awards)(Brief Article)
Mar 06, 2002 ... The Municipal Art Society of New York (MAS) has announced recipients of the 2nd annual MASterwork Awards. The awards, which honor excellence in design in New York City's built environment for projects completed in 2001 are given in four categories - new building, new or restored public art ...
St. John's breaks ground on stadium. (Design and Development).(Belson Soccer Stadium)(Brief Article)
Mar 06, 2002 ... Using the shovel that was employed to break ground on the first buildings constructed on Queens campus in the 1950s, St. John's University kicked off construction of Belson Soccer Stadium on the Queens campus recently, commencing the latest project in the university's master plan. ...
New Earth Museum under construction. (Design and Development).(for Cornell's Paleontological Research Institution; Weidlinger Associates and Weiss/Manfredi hired)(Brief Article)
Mar 06, 2002 ... Weidlinger Associates, an international consulting engineering firm, and the architectural firm of Weiss/Manfredi have designed a new Earth Museum for Cornell's Paleontological Research Institution upon the shores of Lake Cayuga within the Finger Lakes region of upstate New York. ...
Downtown retailers buoyed by tourism.(New York City)(Brief Article)
Mar 13, 2002; ... In a few years; the biggest tourist draw in New York City could be the Sept. 11 memorial downtown. "It will outperform the Metropolitan Museum of Art," said Lower Manhattan Development Corporation chairman John Whitehead recently. If so, other retailers could be ...
NIMBYs have their say: Tax assessor scandal cited in parking garage battle.(Not In My BackYard; Glenwood Management dispute in Manhattan)(Brief Article)
Mar 13, 2002; ... A Battle Royale flared up last week at a Community Board 7 meeting on Manhattan's Upper West Side. At issue was a proposed 180-car parking garage to be built beneath 1926 Broadway by Glenwood Management, the firm owned by Leonard. Litwin. The project received a special permit from the City ...
Family feud could result in two property auctions.(Brief Article)
Mar 13, 2002; ... There is a chance that two prime Milstein-owned properties will go on the market in the near future, if the notorious real estate family doesn't work out its personal differences. In February, a Supreme Court judge ordered an office building at 335 Madison Ave. and a luxury apartment tower ...
'Burbs booming with activity. (Suburban Markets).(Brief Article)
Mar 13, 2002 ... From increased sublease activity to higher vacancies, areas outside of Manhattan ...
Merger forms CoreNet Global.(Brief Article)
Mar 13, 2002 ... CoreNet Global, the association of corporate real estate executives formed by the merger of the International Development Research Council and the International Association of Corporate Real Estate Executives, recently announced its first board of directors. CoreNet Global ...
Barclays renews lease.(Brief Article)
Mar 13, 2002 ... In what is believed to be the largest Downtown space renewal since Sept. 11, Barclays PLC has renewed its lease for 104,000 SF of office space comprising three full floors at 222 Broadway. "This is a major confidence builder for the downtown market," asserted Peter Riguardi, ...
Bloomberg taking more control of downtown redevelopment.(Michael Bloomberg)(Brief Article)
Mar 13, 2002; ... Mayor Michael Bloomberg will have more control than previously thought over the Lower Manhattan Development Corporation, the subsidiary of the Empire State development Corporation charged with overseeing the rebuilding of downtown. The announcement came during a joint press conference at ...
Dennis Sherry. (Management Who's News Personnel).(appointed at Insignia/ESG)(Brief Article)
Mar 13, 2002 ... Insignia/ESG announced that Dennis Sherry has joined the firm as a portfolio manager. Sherry has more than 10 years of experience in property management. Prior to joining Insignia/ESG, he served as a generall manager for Pitney Bowes Management Services, where ...
Andrew W. Osborne. (Management Who's News Personnel).(appointed at Jones Lang LaSalle)(Brief Article)
Mar 13, 2002 ... Jones Lang LaSalle announced that Andrew W. Osborne has been appointed senior vice president of its capital markets group. Previously, Osborne held the post of ...
Steve Schlegel. (Management Who's News Personnel).(appointed at Jones Lang LaSalle)(Brief Article)
Mar 13, 2002 ... Jones Lang LaSalle announced that Steve Schlegel has been appointed international director of leasing and management. ...
Sri Sambamurthy. (Management Who's News Personnel).(appointed at Deutsche Banc Alex Brown)(Brief Article)
Mar 13, 2002 ... Deutsche Banc Alex Brown announced that Sri Sambamurthy has been appointed director of its real estate mergers and acquisitions group. Prior to joining Deutsche Banc Alex Brown, Sambamurthy served as an executive director of the real estate ...
Stephen K. Milgrom. (Management Who's News Personnel).(appointed at Newmark JGT)(Brief Article)
Mar 13, 2002 ... Newmark JGT announced the appointment of Stephen K. Milgrom as associate director. Prior to joining Newmark JGT, Milgrom served as a landlord representative for the Illva Saronno Corporation. While there, he ...
Peter Lockhart. (Management Who's News Personnel).(appointed at Thor Equities L.L.C.)(Brief Article)
Mar 13, 2002 ... Thor Equities LLC announced that Peter Lockhart has been appointed executive vice president of the firm. In his new position, Lockhart will assist in the development and execution of marketing strategies for Thor Equities' urban retail properties. ...
Raymond A. Sohmer. (Management Who's News Personnel).(appointed at Insignia/ESG)(Brief Article)
Mar 13, 2002 ... Insignia/ESG announced the appointment of Raymond A. Sohmer as executive director of the company's New Jersey office. Prior to joining Insignia/ESG, Sohmer served as senior vice president of the office services group at Grubb & Ellis. His list of ...
Dino Piccini. (Management Who's News Personnel).(Brief Article)
Mar 13, 2002 ... NYIDTZ Staubach Tie Leung announced the appointment of Dino Piccini as managing director of international services. Piccini ...
David Kriegel. (Management Who's News Personnel).(joins Gran Associates L.L.C.)(Brief Article)
Mar 13, 2002 ... Gran Associates, LLC announced that David Kriegel has joined the firm as a partner. Kriegel has 12 years of experience in architecture. Prior to joining Gran Associates, he served as a partner with BNK Architects, ...
Julio C. Figueroa. (Management Who's News Personnel).(promoted by Gran Associates L.L.C.)(Brief Article)
Mar 13, 2002 ... Gran Associates, LLC announced that Julio C. Figueroa has been promoted to the position of a partner. Figueroa specializes in project management, as well as pre-fabricated and pre-manufactured housing systems. In addition to his role at Gran Associates, he teaches at and serves ...