Real Estate Weekly back issues from March 2005:
Big bucks retailers not done with city.
Mar 02, 2005; ... New York could be in line for another booming year on the retail front. According to Marcus & Millichap's National Retail Report, the city jumped from the number nine spot on the national ranking scale last year to number eight, due to strong market fundamentals such as high ...
Charles Gargano, Chairman and CEO of the Empire State Development Corporation.(Brief Article)
Mar 02, 2005 ... [ILLUSTRATION OMITTED] Caption: Charles Gargano, Chairman and CEO of the Empire State Development Corporation, was the keynote speaker at the Young Men's/Women's February 8 luncheon at the University Club in Midtown ...
Third developer offering $700M for rail yards site.
Mar 02, 2005; ... TransGas Energy Systems entered the bidding war for Hudson Yards this week, offering the MTA $700 million for the air rights to the site and topping Cablevision's proposal of $600 million for a mixed-use development on the site. The MTA released its formal bid guidelines and ...
Trophy deals overpower mediocre middle market.
Mar 02, 2005; ... Despite the outward enthusiasm of most real estate brokers, Manhattan's office market may not be recovering as quickly as expected. While the past year has seen a number of significant transactions at trophy midtown properties, the rest of the market is moving at a much slower ...
Class A brokers are turning old school on its head.
Mar 02, 2005; ... When the American Cancer Society recently leased 77K s/f of space for its new headquarters at 125 West 31st Street, a 58-story mixed-use commercial and residential tower soon to be developed by The Durst Organization, it seemed just like any other mid-sized corporate real estate deal in ...
Preservationists licked in lollipop building battle.
Mar 02, 2005; ... The Museum of Arts & Design won an arduous battle this week, as the State's Appellate Court overruled objections to its plan to redevelop 2 Columbus Circle to serve as its new home. For the past several years, the Museum has been unable to move forward with the project because ...
Houlihan/Lawrence.(Who's News)(Brief Article)
Mar 02, 2005 ... Houlihan/Lawrence announced that Andrew M. Silfen has joined the firm as a licensed sales associate in its White Plains, N.Y. office. Silfen has more than 30 years of experience in business. Prior to joining Houlihan/ Lawrence, h worked a ...
CB Richard Ellis.(Who's News)(Brief Article)
Mar 02, 2005 ... CB Richard Ellis announced that Toshiro Sato has been appointed as senior director. In his new position, Sato will be responsible for providing real estate services to Japanese-owned firms ...
Homebridge Mortgage Bankers.(Who's News)(Brief Article)
Mar 02, 2005 ... Homebridge Mortgage Bankers announced that Timothy Dowd has joined the firm as vice president of business development. Dowd has 18 years of experience in the mortgage banking industry. Prior to joining Homebridge ...
eRealty Title Agency.(Who's News)(Brief Article)
Mar 02, 2005 ... eRealty Title Agency announced that Torah Provost has joined the firm as underwriting counsel. Prior to joining eRealty, Provost served as chief underwriting counsel with the Title ...
Hines.(Who's News)(Brief Article)
Mar 02, 2005 ... Hines announced that Bart Swenson has been appointed as vice president of the firm's New York office. In his new position, Swenson will be responsible for identifying new ...
Itzhaki Properties.(Who's News)(Brief Article)
Mar 02, 2005 ... Itzhaki Properties announced that Bart Zimmermann has been appointed as vice president of sales. In his new position, Zimmermann will be ...
Hines announced that Dan Rashin has been appointed as senior vice president.(Who's News)(Brief Article)
Mar 02, 2005 ... Hines announced that Dan Rashin has been appointed as senior vice president in the firm's Stamford, Conn. office. Rashin has more than 14 years of ...
GMH Communities Trust.(Who's News)(Brief Article)
Mar 02, 2005 ... GMH Communities Trust announced that John Bryer has been appointed as vice president of information technology. In his new position, Bryer will be responsible for strategic development, implementation and protection of information systems. Bryer has more than 20 years of ...
Greystone Servicing Corporation, Inc.(Who's News)(Brief Article)
Mar 02, 2005 ... Greystone Servicing Corporation, Inc. announced that Stephen E, Germano has joined the firm as director. Prior to joining Greystone, Germano served as director with GMAC RFC's interim loan group. While there, ...
Palisades Financial.(Who's News)(Brief Article)
Mar 02, 2005 ... Palisades Financial, LLC announced that Neil Minardi has joined the firm as a senior analyst. Minardi has more than 17 years of experience in real estate. Prior to joining Palisades Financial, he served as senior vice president with ...
Houlihan/Lawrence announced that Dianne O'Hara has joined the firm as a licensed associate broker.(Who's News)(Brief Article)
Mar 02, 2005 ... Houlihan/Lawrence announced that Dianne O'Hara has joined the firm as a licensed associate broker in its Brewster, N.Y. office. Prior to joining Houlihan/ Lawrence, O'Hara served as an associate broker ...
Roseland Property Company.(Who's News)(Brief Article)
Mar 02, 2005 ... Roseland Property Company announced that Brenda Cordova has been appointed as senior vice president of operations. In her new position, Cordova will be responsible for the company's management portfolio. ...
Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn.(Who's News)(Brief Article)
Mar 02, 2005 ... Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP announced that Joseph Nocella, Jr. has joined the firm as an associate. Prior to joining FCSMC&C, Nocella served as an associate in ...
Staubach Company.(Who's News)(Brief Article)
Mar 02, 2005 ... The Staubach Company an nounced that Joseph McMahon has joined the firm as vice president. Prior to joining the Staubach Company, McMahon served as managing director with the Garibaldi Group/ CORFAC International. His list ...
Hines announced that Dave Congdon has been appointed as senior vice president of the firm's Stamford.(Who's News)(Brief Article)
Mar 02, 2005 ... Hines announced that Dave Congdon has been appointed as senior vice president of the firm's Stamford, Conn. office. Congdon has been with Hines ...
Community Housing Improvement Program, Inc.(Who's News)(Brief Article)
Mar 02, 2005 ... Community Housing Improvement Program, Inc. announced that Aaron Sirulniek has been appointed as president for a two-year term. Currently, ...
Union State Bank.(Who's News)(Brief Article)
Mar 02, 2005 ... Union State Bank announced that Rosa Paolucci has been appointed as assistant vice president. Paolucci has 20 years of experience in banking. Prior to ...
Hines announced that Walter O'Shea has been appointed as vice president.(Who's News)(Brief Article)
Mar 02, 2005 ... Hines announced that Walter O'Shea has been appointed as vice president of the firm's St. Augustine, Fla. Office. O' Shea ...
Union State Bank announced that John C. Napolitano has been appointed as assistant treasurer.(Who's News)(Brief Article)
Mar 02, 2005 ... Union State Bank announced that John C. Napolitano has been appointed as assistant treasurer and electronic banking manager. ...
Itzhaki Properties.(Sales)(Brief Article)
Mar 02, 2005 ... Itzhaki Properties announced the following transactions: * The sale of 340 E. 9th St., a five-story, walk-up building in New York City, for $2.24 million. Bart Zimmerman, of Itzhaki Properties, represented both ...
Besen & Associates.(Sales)(Brief Article)
Mar 02, 2005 ... Besen & Associates announced the following transactions: * The sale of 411 State St., a four-story, walk-up building in Brooklyn, N.Y., for $1.125 million. Ron Cohen, of Besen & Associates, ...
Senack Real Estate.(Sales)(Brief Article)
Mar 02, 2005 ... Senack Real Estate announced the following transactions: * The sale of 82 16th St., a 16-family house in Brooklyn, N.Y., for $1.25 million; * The sale of ...
Leslie J. Garfield & Co., Inc.(Sales)(Leslie J. Garfield and Company Inc.)(Brief Article)
Mar 02, 2005 ... Leslie J. Garfield & Co., Inc. announced the sale of 20 E. 94th St., a five-story, 7,250 s/f townhouse in New York City, for $9.25 ...
Marcus & Millichap Real Estate Investment Brokerage Company.(Sales)(Brief Article)
Mar 02, 2005 ... Marcus & Millichap Real Estate Investment Brokerage Company announced the sale of 351 W. 29th St., a four-story apartment building, and 336 W. 19th St., ...
Greiner-Maltz.(Sales)(Brief Article)
Mar 02, 2005 ... Greiner-Maltz announced the sale of 5-15 49th St., a 23,000 s/f, one-story warehouse in ...
Heimsley-Spear, Inc.(Sales)(Brief Article)
Mar 02, 2005 ... Heimsley-Spear, Inc. announced the sale of 161 Grand St., a 1,800 s/ f loft luxury ...
Blockbuster Bob was born for the big time: Robert Alexander, co-chairman CB Ricahrd Ellis.(Profile Of The Week)(Bob Alexander )
Mar 02, 2005; ... While some may toil for years, battling through the inevitable dry spells, to reach the lofty heights of commercial brokering, Bob Alexander's career has been surprisingly smooth and consistent. After becoming a broker in 1979, he quickly climbed to the top echelon of the business and has ...
Monday signs bumper renewal at 237 Park Ave.(Monday Properties)(Brief Article)
Mar 02, 2005 ... Monday Properties, a New York City-based investment, development, ownership and management company, has completed a renewal lease with J. Walter Thompson for 270,280 square feet of space at 237 Park Avenue in Manhattan. J. Walter Thompson, the largest advertising agency in the ...
Newmark inks a prize printer deal.(Newmark and Co.)
Mar 02, 2005 ... In an acquisition that will enable a third-generation printing firm to both maintain and expand its operations in Manhattan, TLG Realty has sold 525 West 52nd Street to 525 West 52nd Street LLC in a transaction valued in excess of $20 million, according to Newmark. The building, ...
BPG's triple aquisition.(BPG Properties Ltd.)(Brief Article)
Mar 02, 2005 ... BPG Properties, Ltd., the operating affiliate of Berwind Property Group, Ltd., has announced the acquisition of three Class A three-story office buildings, totaling 221,234 s/f in Sparks, Maryland. The buildings are 60% leased. The purchase was made by an affiliate of BPG on ...
Fried Frank signs 380,000 s/f Plaza renewal.(Fried, Frank, Harris, Shriver and Jacobson)(Brief Article)
Mar 02, 2005 ... CB Richard Ellis arranged a 380,000 s/f lease at One New York Plaza on behalf of international law firm Fried Frank Harris Shriver & Jacobson. The legal practice extended its total lease agreement for 15 years, through 2024, and expanded its occupancy by 42,000 square feet. ...
176,000 s/f Citigroup deal at 731 Lex Ave.(Brief Article)
Mar 02, 2005 ... Citigroup has closed the deal to lease 176,000 s/ f at Bloomberg tower, making it one of the largest tenants of the recently topped off 54-story office tower at 731 Lexington Ave. at East 59th Street. Bloomberg LP is taking up nearly 700,000 s/f of the 1.3 million s/f tower from ...
Law firm recommits to Lower Manhattan.(Brief Article)
Mar 02, 2005 ... GVA Williams announced that the law firm of Nicoletti, Hornig, Campise, Sweeney & Paige has signed a lease agreement to take 18,000 s/f of office space in the Wall Street Plaza building at 88 Pine Street. This transaction represents an expansion and renewal for the firm, which ...
Anchor tenant signed.(Brief Article)
Mar 02, 2005 ... Cushman & Wakefield on behalf of White Plains, N.Y.-based Rabina Reality, announced that trendsetting health club operator Equinox Fitness Club, headquartered in New York City, has chosen "The 500 Block of Collins Avenue" in Miami for its first unit in South Florida. Equinox ...
Consortium pays $20m for 133 Greenwich St.(Brief Article)
Mar 02, 2005 ... Kaysha Deitsch, backed by Edgar Bronfman, CEO of Seagram Company, led an investor consortium in the purchase of a 150,000 square foot building on 133-135 Greenwich Street. The purchase price of $20 million is a fee simple sale, with 100% of the rights transferred to the buyer. ...
'Historic' Bleeker Street sale.(Brief Article)
Mar 02, 2005 ... Adelaide Polsinelli, senior executive broker of Besen & Associates, Inc., has successfully sold a three-building package at; 255 Bleecker, 257 Bleecker Street and 35 Cornelia Street, in Manhattan's Greenwich Village neighborhood. The package includes three buildings, two of ...
City sells Bronx lot.(Brief Article)
Mar 02, 2005 ... New York City Economic Corporation President Andrew M. Alper announced the sale of a 33,200 s/f parcel of vacant city-owned property in the Bronx, to the Mount Hope Community Center, a not-for-profit corporation affiliated with the Mount Hope Housing Company. Mount Hope ...
SL Green unveils next step in Grand Central plan.(SL Green Realty Corp.)
Mar 02, 2005 ... Many in the real estate industry scratched their heads last summer when SL Green Realty Corp. boldly purchased the interconnected and soon-to-be largely vacant Grand Central office buildings at 485 Lexington Avenue and 750 Third Avenue for $480 million from TIAA-CREF, the national ...
BIDs put sparkle back into commercial neighborhoods.(business improvement districts)(Brief Article)
Mar 02, 2005; ... The role of Business Improvement Districts in creating vibrant commercial neighborhoods was the topic of discussion at the Urban Land Institute's meeting on February 15. BID advocates such as Robert W. Walsh, commissioner of the New York City Department of Small Business ...
Brett White takes over the reins at CB Richard Ellis.(Brief Article)
Mar 02, 2005 ... CB Richard Ellis Group Inc announced that its Board of Directors has named Brett White, the company's president, to succeed Ray Wirta as CEO, under a long-established company succession plan. Mr. Wirta, 61, will relinquish his CEO duties following the company's annual ...
Two join tri-state leaders.(New York Tri-State Region)(Brief Article)
Mar 02, 2005 ... Two veterans of the CBRE ranks have been promoted to the firm's executive leadership team for the New York Tri-State Region. David Maurer-Hollaender and Lewis Miller have been promoted to vice chairmen Maurer-Hollaender's 20 years at the company have included a wide ...
Waterfront site suits financiers.
Mar 02, 2005 ... Societe Generale (SG), one of the largest financial services firms in the world with a significant presence in the U.S., has committed to 92,000 square feet of space at Newport Office Center VII in Jersey City, NJ in a sublease from UBS, one of the world's leading financial services firms ....
Lawyers stretch to 242,000 s/f.(Brief Article)
Mar 02, 2005 ... Jones Lang LaSalle has completed a lease with Mayer, Brown, Rowe & Maw L.L.P. at 1675 Broadway. The international law firm signed a renewal and expansion lease for a total of 242,000 square feet at the 755,448-square-foot building in Midtown Manhattan. The tenant was ...
Trammel Crow lands global deal with insurers.(Brief Article)
Mar 02, 2005 ... The Chubb Corporation has awarded Trammell Crow Company a contract to provide global real estate services. This assignment will encompass facilities management, transaction management, portfolio management and project management for a four million square foot portfolio of office ...
G-A gets a taste of the Cheeseburger business.(Garrick-Aug Associates Store Leasing Inc.)(Cheeseburger Restaurants Inc.)(Brief Article)
Mar 02, 2005 ... Garrick-Aug Associates Store Leasing, Inc. has been exclusively retained by California-based chain Cheeseburger Restaurants, Inc. to arrange a Times Square location for its New York flagship, announces Lawrence J. Selevan, Chairman and CEO of the retail-focused real estate brokerage firm. ...
William B. May to lead Krispy Kreme charge.(Krispy Kreme Doughnut Corp.)
Mar 02, 2005 ... Krispy Kreme has retained William B. May Commercial Real Estate to head their franchise relocation efforts in the New York City area. Krispy Kreme was founded by Vernon Rudolph in July of 1937. Since then the company has grown to become one of America's largest specialty brand ...
Paramount announces 137,000 s/f TD Waterhouse lease.(Paramount Group Inc.)(TD Waterhouse Group Inc.)(Brief Article)
Mar 02, 2005 ... Just before the close of 2004, Paramount Group scored a coup in signing one of the Top 5 largest leasing deals of the year in Downtown Manhattan. Financial services giant TD Waterhouse signed a 137,000-square-foot lease at Paramount's Financial Square, making the one million ...
Morgan Stanley DW subleases 75,000 s/f.(Brief Article)
Mar 02, 2005 ... Societe Generale, one of the largest financial services groups in the world, has just concluded a major sublease transaction on the 5th floor of 1221 Avenue of the Americas, its U.S. headquarters building. Societe Generale continues to occupy multiple floors in the building. The ...
Weight Watchers make Madison Avenue move.(Weight Watchers Group Inc.)(Brief Article)
Mar 02, 2005 ... Grubb & Ellis Company announced that it closed a deal in the fully-leased MetLife Building at 11 Madison Avenue on behalf of its client, IBM. The building, named Most Outstanding Historic Building in 1997 by BOMA/NY, provides a prestigious new address for Weight Watchers, ...
M&M's luxury loan.(Marcus and Millichap Capital Corporation)(Brief Article)
Mar 02, 2005 ... Marcus & Millichap Capital Corporation has arranged $5.7 million of financing on a 14-unit apartment building in Brooklyn. The 14 Brighton 4th Street luxury condos are under construction and ...
Consolo and Aquino bring perfumerie to W. Village.(Joseph A. Aquino)(Brief Article)
Mar 02, 2005 ... The leasing team of Faith Hope Consolo, chairman, and Joseph A. Aquino, executive vice president, of Prudential Douglas Elliman's Retail Leasing and Sales Division, exclusively represented both the landlord and tenant in the leasing of 399 Bleecker Street to cutting-edge perfumerie Bond ...
Massey Knakal sells Tribeca lofts.(Massey Knakal Realty Services Inc.)(Brief Article)
Mar 02, 2005 ... Massey Knakal Realty Services has sold a five-story elevatored loft building at 16 Warren Street in the TriBeCa neighborhood in an all-cash transaction worth $5 million. The 25-foot-wide property is located on the north side of Warren Street between Broadway and Church Street. ...
Innovative device seen reducing airborne pollution in buildings.
Mar 02, 2005; ... If you're worried about air pollution in your home or office, you're right to be very concerned. If you're not worried about airborne contaminants that are commonly found indoors, you should be. Genesis Air has come up with a new and innovative approach to eradicating much of ...
Industry holds its breath for Olympic decision.
Mar 02, 2005; ... The construction industry is holding its breath along with Mayor Michael Bloomberg for a decision from the International Olympic Committee. Following a four-day visit to New York, the IOC said a new West Side Stadium is a must for the city to host the 2012 Olympics. ...
State asks for share of 'billion dollar' market.
Mar 02, 2005 ... Chairman Charles A. Gargano announced that Empire State Development Corp. (ESD) has applied to the federal government to take part in the New Markets Tax Credit program that could result in billions of dollars in new private sector investment for community and economic development projects ...
Harlem complex creates 1,500 construction jobs.(Brief Article)
Mar 02, 2005 ... State and city officials joined the Majic Development Group and 1800 Park Ave LLC development teams to break ground on Harlem Park, a 660,000 s/f mixed use complex that will combine a Marriot Courtyard Hotel with retail, office and 109,000 s/f of residential on a vacant lot at 125th Street ...
$115m hospital pavilion a 'first' for architects.
Mar 02, 2005 ... Bellevue Hospital Center, America's oldest public hospital, officially opened a new Ambulatory Care Pavilion. The new building is the first to be built on the Bellevue campus since the construction of the Hospital Tower in 1973. The $115 million development project was a ...
Condo tower topped out.(Brief Article)
Mar 02, 2005 ... Developers Stuart Boesky and Jamison Weiner topped out their mixed-use residential retail condominium development known as 21 East 96th Street. Marson Contracting Co., Inc., the Construction Manager for the project, poured the 12th and top floor of the 41,000 s/f before a ...
Seeing the light in Brooklyn.(Brief Article)
Mar 02, 2005 ... On a specialty-store dotted street in a well-established neighborhood in Williamsburg, Brooklyn, a one-of-a-kind condominium is rising on a unique and ideally situated site. Withers Place is a 25-unit building located near restaurants, art galleries and Williamsburg's trendy ...