Real Estate Weekly back issues from May 2003:
Will HIP lease spark Downtown revival?(Health Insurance Plan of Greater New York Inc. signs 20-year lease, commits to Lower Manhattan, New York)
May 07, 2003; ... Will the Health Insurance Plan of New York's recent signing of a 20-year, 485,000-lease at 55 Water St. convince other tenants to move Downtown? A team of four GVA Williams brokers who represented HIP in the deal thinks so. "We truly believe that this will be a ...
23rd St. could be site of city's newest BID.(New York City business improvement district )
May 07, 2003; ... A drive is underway to create the city's newest Business Improvement District in the 23rd Street neighborhood from Third to Sixth Avenues along East 23rd Street and from 21st to 29th Streets. The aim is to take an eclectic group of small and large businesses, unkempt stretches ...
Costs on the rise for building owners.(apartment building owners of New York; building service workers receive 2.8% wage increase)
May 07, 2003; ... Last week a new contract for building service workers added another expense to New York apartment building owners' checkbook -- a 2.8% wage increase for the building workers, as well as greater insurance and pension. coverage. With an 18% property tax increase, rising oil prices and ...
Grubb & Ellis execs win REBNY award.(Grubb and Ellis Co., Dan Gronich, Robert Yaffa receive Real Estate Board of New York, 2002 Henry Hart Rice "Most Ingenious Deal of the Year" Award)
May 07, 2003 ... Grubb & Ellis Company, one of the leading providers of integrated real estate services, announced Dan Gronich and Robert Yaffa received the Real Estate Board of New York's 2002 Henry Hart Rice "Most Ingenious Deal of the Year" Award for the emergency relocation of the U.S. Customs Service ...
Citi Habitats forms commercial group.(Citi Habitats Inc., CH Commercial Real Estate Group L.L.C.)
May 07, 2003 ... Citi Habitats, Inc., New York's largest residential real estate leasing firm and one of the largest sales firms has officially launched CH Commercial Real Estate Group, LLC, a new commercial real estate division of Citi Habitats. Located at 30 East 33rd Street, in Citi Habitats' corporate ...
Cushman & Wakefield. (Who's News: Management Personnel).(Cushman and Wakefield Inc., Albert W. Cleary, senior director)(Brief Article)
May 07, 2003 ... Cushman & Wakefield announced that Albert W. Cleary has rejoined the firm as senior director. Cleary has 22 years of experience in real estate. He served as a leasing and sales, specialist with Cushman & Wakefield, before- briefly leaving the firm to assume the position of ...
Holmes & Kennedy. (Who's News: Management Personnel).(Holmes and Kennedy Inc., Dodie Mouldovan, associate broker)(Brief Article)
May 07, 2003 ... Holmes & Kennedy announced that Dodie Mouldovan has joined the. firm as an associate broker in its Armonk, N.Y. office. Mouldovan has more than 26-years of experience in ...
Long Island Power Authority and Group Health, Inc. (Who's News: Management Personnel).(James F. Gill re-appointed chairman Battery Park City Authority )(Brief Article)
May 07, 2003 ... Battery Park City Authority announced that James F. Gill has been re-appointed as chairman for a new six year term. Gill has more than 30 years of experience in law. Currently, he serves as senior partner of ...
Skanska USA Building Inc. (Who's News: Management Personnel).(Leonard D. Jacob appointed vice president of technical services)(Brief Article)
May 07, 2003 ... Skanska USA Building. Inc. announced that Leonard D. Jacob has been appointed as vice president of technical services for the company's New York division. Jacob has more than 35 years of experience in construction ....
Northfield Savings Bank. (Who's News: Management Personnel).(Annette Catino elected to board of directors)(Brief Article)
May 07, 2003 ... Northfield Savings Bank announced that Annette Catino has been elected to its board of directors. Catino has 23 years of experience in management. She currently serves as president and chief ...
Urban Development Corporation. (Who's News: Management Personnel).(FleetBoston Financial Corp., Philip Grossman, executive vice president, market manager )(Brief Article)
May 07, 2003 ... Fleet announced that Philip Grossman has been appointed as executive vice president and market manager of the community real estate finance group. Grossman has 22 -years. of experience in real estate finance. Prior to joining Fleet, he worked at ...
HOK Planning Group. (Who's News: Management Personnel).(Thomas Curley, senior vice president)(Brief Article)
May 07, 2003 ... HOK Planning Group announced that Thomas Curley has joined the firm as senior vice president. In his new position, Curley will be responsible for urban design, institutional campuses, and brownfield sites. ...
Union State Bank. (Who's News: Management Personnel).(Mary Ciani appointed branch manager)(Brief Article)
May 07, 2003 ... Union State Bank announced that Mary Ciani has been appointed as branch manager of its Orangeburg, N.Y office. Ciani has more ...
Baker & McKenzie. (Who's News: Management Personnel).(James L. Gregory, III, partner in New York office)(Brief Article)
May 07, 2003 ... Baker & McKenzie announced that James L. Gregory III has joined the firm as partner in its New York office. In his new position, Gregory will be responsible for real estate finance transactions. ...
Insignia/ESG. (Who's News: Management Personnel).(Joan Meixner appointed managing director)(Brief Article)
May 07, 2003 ... Insignia/ESG announced that Joan Meixner has been appointed as managing director. Meixner has nine years of experience in real estate. Prior to joining Insignia/ESG, she, worked- as financial manager with HCV Pacific Partners. Meixner's list of ...
Grubb & Ellis. (Who's News: Management Personnel).(Insignia/ESG Inc., Dan Marcus, associate)(Brief Article)
May 07, 2003 ... Insignia/ESG announced that DanMarcus has joined the firm as an associate. In his new position,. Marcus will be ...
Sonneblick-Goldman Company. (Who's News: Management Personnel).(Lorena T. Heredia appointed associate director )(Brief Article)
May 07, 2003 ... Sonneblick-Goldman Company announced that Lorena T. Heredia has been appointed as associate director of the firm's international lodging and leisure group. Prior to joining Sonneblick Goldman, Heredia worked as member of Ernst ...
Federal Highway Administration. (Who's News: Management Personnel).(Parsons Brinckerhoff Inc., George Munfakh, manager, geotechnical and tunneling services)(Brief Article)
May 07, 2003 ... Parsons Brinckerhoff announced that George Munfakh has been appointed as manager of its geotechnical and tunneling services. Munfakh has more than 30 years of experience in engineering. His list of clients includes the Federal Highway Administration and the Washington ...
FleetBoston Financial. (Who's News: Management Personnel).(James Hedden, executive vice president, senior market manager, Mid-Atlantic division)(Brief Article)
May 07, 2003 ... FleetBoston Financial announced that James Hedden has been appointed as executive vice president and senior market manager for the firm's ...
Real estate finance group. (Who's News: Management Personnel).(FleetBoston Financial Corp., William McCahill, senior lending officer, real estate finance group)(Brief Article)
May 07, 2003 ... FleetBoston Financial announced that William McCahill has been appointed as senior lending officer for the firm's real estate finance group. In his new position, McCahill will be responsible for the asset quality of the ...
Frontier Group. (Who's News: Management Personnel).(Gerald P. Kenna, director, commercial investments)(Brief Article)
May 07, 2003 ... Frontier Group announced that Gerald P. Kenna has joined the firm as director of ...
Young Men's/Young Women's Real Estate Association. (Who's News: Management Personnel).(Insignia/ESG, Gary Trock appointed managing director)(Brief Article)
May 07, 2003 ... Insignia/ESG announced that Gary Trock has been appointed as managing director. Trock specializes in tenant representation. Prior to joining Insignia/ESG, he served as a retail leasing expert with Garrick-Aug Store Leasing. Trock's list of clients includes ...
Caliber Builders, Inc. (Who's News: Management Personnel).(Union State Bank, Orangeburg, New York, Jeff A. Weinberger, member, chairman's council)(Brief Article)
May 07, 2003 ... Union State Bank announced that Jeff A. Weinberger has been appointed' as member of its chairman's council. Weinberger is partner of Caliber Builders, Inc. Prior to founding Caliber Builders, ...
Cushman & Wakefield. (Who's News: Management Personnel).(Jose R. Cruz appointed director)(Brief Article)
May 07, 2003 ... Cushman & Wakefield announced that Jose R. Cruz has been appointed as director. Cruz specializes in investment brokerage. He is a member ...
Weichert Commercial Brokerage, Inc. (Who's News: Management Personnel).(Matthew Murphy appointed vice president)(Brief Article)
May 07, 2003 ... Weichert Commercial Brokerage, Inc. announced that Matthew Murphy has been appointed as vice president. Murphy has six years of experience in real estate. Prior to joining ...
Agents. (Real Estate: On the Scene).(Brief Article)
May 07, 2003 ... Holliday Fenoglio Fowler has been appointed as the exclusive sales agent for 66-99 Main St., a 17,282 SF retail building in Westport, Conn. John Fowler, executive managing director of the Boston office, Joe Morningstar, senior managing director of the New York office, and Andrew ...
Sales. (Real Estate: On the Scene).
May 07, 2003 ... Breslin Realty Development Corp. announced the sale of 337-343 Merrick Road, an 8,000 SF office building in Lynbrook, N.Y., to J. Peat & Associates. Robert R. Solimine, of Breslin Realty, served as the broker in the transaction. Newmark & Company Real Estate, Inc. announced the ...
A Q&A with Roseman, Fox of Newmark new spectrum. (Profile of the Week).(Interview)
May 07, 2003 ... Real Estate Weekly: Can you explain the success of Whole Foods? Jeffrey Roseman: Whole Foods has shattered the tradition of supermarket shopping in New York. It is a similar problem finding space for supermarkets. Most have to have two levels which they didn't like but now are ...
Condominium sales strong at Atlantic Art Building.
May 07, 2003 ... Sales of loft condominiums at the Atlantic Art Building are surpassing all expectations, according to one of the principals, Marc J. Freud of Troutbrook Company and it's subsidiary, Troutbook Development. The building located at 636 Pacific St., in Downtown Brooklyn, is the first ...
HPD: tax credits available.(Brief Article)
May 07, 2003 ... New York City Department of Housing Preservation and Development (HPD) Commissioner Jerilyn Perine announced the availability of Low Income Housing Tax Credits for calendar year 2003, as authorized under Section 42 of the Internal Revenue Code. "I would like to thank the New York State ...
Fairfield County office market turns the corner in 1Q.
May 07, 2003 ... After a year of struggle with the downsizings, mergers, acquisitions, decision postponements and general lethargy characteristic of commercial real estate during this economic downturn, Fairfield County appeared to turn a corner in the first quarter of 2003. While a year-to-year comparison ...
WP Carey completes $272 million in sale leasebacks.
May 07, 2003 ... Investment firm W. P. Carey & Co. LLC and its affiliated publicly held, non-traded real estate investment trusts (REITs) announced that they have completed a record $272 million in sale-leaseback financing transactions for the period ended March 31, up from $117 million for the comparable ...
Bobker Group gets okay for $27m condo project.(Brief Article)
May 07, 2003 ... The Village of Westbury and County have given a preliminary go-ahead to the Bobker Group to proceed with a $27 million 90-unit condominium development on Post Avenue. The project will replace the old Piping Rock Restaurant, a 1.25-acre landmark at the corner of Post and Union, ...
Mirantes to be honored at May 21 Alvin Ailey event.(Brief Article)(Calendar)
May 07, 2003 ... On May 21, The Alley returns to the historic Apollo Theater in Harlem, "where stars are born and legends are made." The one-night-only event will feature performances by artists of the world famous Alvin Ailey American Dance Theater, the dynamic young dancers from Alley II and talented ...
Leases.
May 07, 2003 ... NEW YORK Insignia/ESG announced that Bank of America has signed a 41,720 SF expansion sublease at 335 Madison Ave. in New York City. Richard Economou, Michael Monahan, Silvio Petriello, and Mark Ravesloot, of Insignia/ ESG, represented the sublandlord in the transaction. John ...
RPA pushes transportation projects.(Regional Plan Association )
May 07, 2003 ... Regional Plan Association declared the region's need to invest in long-term infrastructure despite the current fiscal crisis, calling for new revenue sources to fund the projects that will provide the region with the continued potential for growth. The declaration was part of RPA's 13th ...
NYU hospitality conference to be held June 1-3.(Calendar)
May 07, 2003 ... The longest-running and most prominent event of the global hospitality industry, the New York University International Hospitality Industry Investment Conference hosted by the Preston Robert Tisch Center for Hospitality, Tourism and Sports Management, will hold its 25th annual conference ...
Sales begin at Soho 25.
May 07, 2003 ... Sales are set to begin this spring at Soho 25, a luxury loft condominium building that is the first new-construction residential building to rise in Soho in over two decades. Located at 25 West Houston St. and occupying the full block between Mercer and Greene Streets, the $35-million, ...
REBNY to hold seminar May 15.(Real Estate Board of New York )(Brief Article)(Calendar)
May 07, 2003 ... On May 15, the Real Estate Board of New York will host a conference spotlighting "Retail Store Leasing in New York: Holding It's Own in a Down Market." Among the topics to be discussed are the overall health of the retail market, those retailers making an impact on the city, ...
Events seminars meetings talks. (Around the Town).(Calendar)
May 07, 2003 ... Educational Alliance Dinner May 7 -- The Educational Alliance Annual Benefit Dinner Honoring Nina and Daniel Libeskind at The Pierre, Fifth Avenue and 61 Street. Andrew M. Alper, president, New York City Economic Development Corporation is honoraxy dinner chair. Dinner co-chairs ...
Westchester County office market takes pause in 1Q.
May 07, 2003 ... After a recession-defying performance in 2002, Westchester County's office market seemed to pause in the first quarter of 2003, as economic and geo-political forces clouded the path toward a full-blown recovery for businesses in all industries. Slower leasing failed to offset ...
Meltzer/Mandl designs artist studios on W 25th St.(Brief Article)
May 07, 2003 ... Meltzer/Mandl Architects has designed a haven for artists at 5 11 West 25th St. and 521 West 25th St., both former storage facilities in industrial loft buildings. The two buildings, totaling 175,000 SF, have become artists' studios, galleries and offices. Photography galleries ...
Real estate. (Finance).(Meridian Capital Group L.L.C. mortgages)
May 07, 2003 ... Meridian Capital Group LLC announced the following transactions: * Meridian Capital Group procured new mortgages totaling $5.45 million on a 3-building package with 167 units in Brooklyn, NY. The loans featured rates of 4.93% with 10-year terms. Avi Weinstock negotiated the ...
Terrorism expert speaks at Tree of Life award dinner.(Steven Emerson)
May 07, 2003 ... Steven Emerson, internationally recognized expert on terrorism and national security and author of American Jihad, addressed the impact of terrorism on real estate at the Jewish National Fund Tree of Life(tm) Award Dinner honoring real estate banker and philanthropist William C. McCahill ...
Applied Development, Matzel & Mumford partner for new project. (New Jersey).
May 07, 2003 ... Two of New Jersey's residential developers are joining forces to create a new community of 283 homes in a resort-like setting along the oceanfront in Long Branch, N.J. The Matzel & Mumford Organization is teaming up with Applied Development Company to develop the Bluffs at ...
Jersey City's Greenville Yards marked for distribution centers. (New Jersey).
May 07, 2003 ... Keystone Property Trust announces construction is on schedule at the company's Greenville Yards development in Jersey City, N.J. Keystone acquired the 26-acre site in September of 2002 and is constructing two state-of-the-art distribution centers, totaling approximately 525,000 SF of ...
Lakewood firm awards scholarships, invests in 10 Toms River's residents. (New Jersey).(Brief Article)
May 07, 2003 ... At an informal ceremony held recently at Ocean County College in Toms River, N.J., 10 Lakewood residents -- ranging from high school students to senior citizens -- received scholarships funded by Cedarbridge Development Corporation to attend courses this spring. "This is one way ...
Industry among those to call for Fair and Open Tax Act.(Homeowners)
May 07, 2003 ... Homeowners, small business owners, real estate trade associations and other civic leaders from the five boroughs gathered on the steps of City Hall to call for the implementation of the Fair and Open Tax Act in New York City. The group, known as Taxpayers for an Affordable New ...
POMALS technology puts listings at brokers' fingertips. (Technology Update).
May 07, 2003 ... Peace of Mind at Light Speed Inc., the leading provider of location-based software and services, announced the launch of the first-ever wireless application that gives commercial real estate professionals rapid access to property listings and related data on BlackBerry(tm) handheld ...
FNIS, Bank of America to combine resources. (Technology Update).(Brief Article)
May 07, 2003 ... Fidelity National Information Solutions, Inc. and Bank of America Corporation announced their intent to combine resources and create Financial ServiceSolutions Information Systems, LLC, a mortgage technology-related 50/50 joint venture between the two companies. FSIS will act as ...
Yardi Systems acquires 2 Realm product lines. (Technology Update).
May 07, 2003 ... Yardi Systems, Inc. and The Realm Business Solutions, Inc. announced that Yardi has acquired the operations of two Realm product lines, BJ Murray and NewStar Enterprise. Yardi has retained all employees in the New York and Toronto offices affected by the acquisitions. "We look ...
BTEA to celebrate 100th anniversary with May 19 gala. (Transcripts).(Brief Article)
May 07, 2003 ... The Building Trades Employers' Association (BTEA), New York's largest and most diverse contractor association, is celebrating its 100th anniversary in 2003. The BTEA is marking the occasion with a centennial celebration and dinner at Chelsea Piers on May 19, which will bring ...
BPCA holds 'green' seminar. (Transcripts).
May 07, 2003 ... Acting president of the New York State Research and Development Authority Peter Smith and other energy experts discussed ways to lessen dependence on imported energy and reduce energy costs through the benefits of green building technology, at a recent Battery Park City. Authority green ...
BOMA awards designations. (Transcripts).(Brief Article)
May 07, 2003 ... At its April 2 luncheon, BOMA/NY, the New York Association of the nation's leading advocacy group for the commercial real estate industry, awarded professional designations to 15 members of the commercial real estate industry. Each member of the class of 2003 received one, or ...
Landmark TriBeCa building gets 2 new penthouses. (Residential).
May 07, 2003 ... In the culmination of an unusual two-part restoration and conversion program, the top two floors of the landmarked Gary Building at 89 Reade St. in TriBeCa, one of the city's oldest cast iron structures, have been transformed into two extraordinary duplex penthouse loft residences. They ...
Architect introduces room kits. (Residential).
May 07, 2003 ... International architecture firm Michael Graves & Associates announced the introduction of their customizable kits for single room additions know as "Pavilions." There are three plan types -- the Brighton, the Heatlicote and the Sherwood -- which are available to consumers ...
1700 Harlem families to receive free passes to Studio Museum in Harlem. (Residential).
May 07, 2003 ... Each of the 1,700 families residing in Harlem's famed Lenox Terrace development will receive memberships to The. Studio Museum in Harlem (SMH), courtesy of the complex's owner, The Olnick Organization, Inc. Neil L. Rubler, chief operating officer and executive vice president of ...
Amwell Commons' 'executive suites' drawing interest.(leases signed)
May 07, 2003 ... The innovative "Executive Suites" office component at Amwell Commons is drawing substantial interest from a wide variety of tenants. Several significant leases have already been signed at the single-story, 7,500-SF building since its official opening earlier this year, ...
New lighting installed in Union Square area thanks to BID.
May 07, 2003 ... The 14th Street-Union Square LDC/BID announces the installation of new decorative sidewalk lighting on 14th and 17th Streets. The new lighting was made possible with the help of Assembly Member Deborah J. Glick, who provided funds in the amount of $57,000, which will pay for ...
Northfield Savings Bank releases 1Q earnings.(Brief Article)
May 07, 2003 ... Northfield Savings Bank, the principal operating subsidiary of NSB Holding Corporation, announced excellent earnings results for the first quarter of 2003. "Despite the slow pace of the economy, the newly expanded Northfield Savings Bank continues to produce significant ...
Katten Muchin RE practice named tops in Chambers.(Brief Article)
May 07, 2003 ... Katten Muchin Zavis Rosenman announced that its Real Estate Practice is listed among the top leading firms in the state of New York in the first Chambers USA guide to America's Leading Business Lawyers. Additionally, the firm's Chicago Real Estate Practice shares the top ranking in ...
Millenium Hotel celebrates reopening: officials applaud continued rebuilding of Lower Manhattan.(hotel badly damaged in 9/11 attacks reopens)
May 14, 2003; ... Calling it a symbol of the continued resurgence of Lower Manhattan, officials marked the grand reopening May 5 of the Millenium Hilton Hotel which was badly damaged in the Sept. 11 attacks. "This hotel is. a symbol of what's in store for New York City, New York State and America ...
Rent Guidelines Board sets preliminary 8.5% rent hike.
May 14, 2003; ... This week New York City Rent Guidelines Board set the preliminary numbers for the city's annual rent stabilization debate, disappointing the hopes of tenants everywhere. For the first time in a 10-year period, the board approved a 5.5% increase for one-year leases on rent-stabilized ...
Pfizer to bring 1,000 new jobs.(will buy 31-story office building in New York City)
May 14, 2003; ... In a rare piece of good news for the city, Pfizer pharmaceutical company announced that it will buy 685 Third Ave. to house 1,000 new jobs it plans to bring to New York. The move comes as a result of the company's recent purchase of Pharmacia Corp. "Because of the acquisition, ...
Melissa Siegel, Sherman Advertising Associates.
May 14, 2003 ... Caption: Pictured (from l to r) Melissa Siegel, Sherman Advertising Associates; Susan Harte, Stadtmauer Bailkin LLP; Sloane Rhulen, Insignia/ESG; Ellie Manko, Newmark & Company Real Estate join Harrison Ford at the April 29 Practical Magic Ball for City Harvest. The women are spearheading ...