Real Estate Weekly back issues from December 2005:
Runaway insurance costs threaten NYC.
Dec 07, 2005; ... The rapidly approaching deadline for the Terrorism Risk Insurance Act (TRIA) might be the insurance story that everyone is talking about these days, but a new report points to a potentially bigger threat involving building owners throughout the nation. According to commercial ...
Reckson sells $330m share.
Dec 07, 2005 ... Reckson Associates Realty Corp. has completed the recapitalization of One Court Square, Long Island City, with the sale of a 70% joint venture interest to a group of institutional investors led by JPMorgan Investment Management, for approximately $329.7 million. Reckson bought ...
L&L fine tunes plans to fill remaining space at 600 Third.(L&L Acquisitions acquires)(L-3 Communications)
Dec 07, 2005; ... L&L Acquisitions has brought 600 Third Avenue, a building it purchased in partnership with GE Asset Management in July 2004, to near total occupancy with the recent announcements of two expansion deals with existing tenants in the building. Last week L-3 Communications increased ...
Krasnow fills the void at Trammell Crow Co.(Kenneth M. Krasnow)
Dec 07, 2005; ... Cushman & Wakefield executive managing director, Kenneth M. Krasnow, an 18 year veteran of the firm who had risen through the ranks of brokerage to become manager of C&W's New York City brokerage operations, is leaving C&W to head Trammell Crow's growing New York City brokerage team. ...
Cushman & Wakefield.(WHO'S NEWS)
Dec 07, 2005 ... Cushman & Wakefield has promoted Philip Russo to senior managing director and chief of staff, Media & Corporate Affairs. He has been with the firm since 2000. Russo was previously managing director of the Media Relations Unit and ...
Grubb & Ellis: Ellen Abramowitz.(WHO'S NEWS)
Dec 07, 2005 ... Ellen Abramowitz has joined Grubb & Ellis as managing director. She previously spent several years ...
Grubb & Ellis: Ron Agababian.(WHO'S NEWS)
Dec 07, 2005 ... Ron Agababian has joined Grubb & Ellis as managing director. He began his real estate career at Studley, Inc., ...
Grubb & Ellis: Gabe Chehebar.(WHO'S NEWS)
Dec 07, 2005 ... Gabe Chehebar has joined Grubb & Ellis as an associate. Previously, he ...
Grubb & Ellis: Charlotte Cheung.(WHO'S NEWS)
Dec 07, 2005 ... Charlotte Cheung has joined Grubb & Ellis as investment sales associate director. She has served the emerging Asian-American market since 1988 in the financial services industry at ...
Massey Knakal Realty Services: David Canning.(WHO'S NEWS)
Dec 07, 2005 ... Massey Knakal Realty Services is pleased to announce that David Canning has joined the Bronx division as its newest sales director. Prior to joining Massey Knakal, he was ...
Massey Knakal Realty Services: Joseph Amendola.(WHO'S NEWS)
Dec 07, 2005 ... Massey Knakal Realty Services is pleased to announce that Joseph Amendola has joined the Nassau County division as its newest sales director. His experience as an attorney includes, most recently, five years with Brix Augustin conducting ...
Massey Knakal Realty Services: Ofer Cohen.(WHO'S NEWS)
Dec 07, 2005 ... Massey Knakal Realty Services is pleased to announce that Ofer Cohen has joined the Brooklyn office as its newest director of sales. Previously, he was vice president of marketing at SmartVideo, a technology ...
Prudential CRES Commercial Real Estate.(WHO'S NEWS)
Dec 07, 2005 ... Prudential CRES Commercial Real Estate announced that Catherine A. Shanks has joined the organization as a licensed real estate sales associate. Prior ...
Grubb & Ellis: Bryan Cleva.(WHO'S NEWS)
Dec 07, 2005 ... Grubb & Ellis has hired Bryan Cleva as an associate. He began his career in real ...
Grubb & Ellis: Brett Gartner.(WHO'S NEWS)
Dec 07, 2005 ... Brett Gartner has joined Grubb & Ellis as an associate. He joined the company after a stint in the Peace Corps in Ukraine teaching ...
Grubb & Ellis: William Ging.(WHO'S NEWS)
Dec 07, 2005 ... William Ging has joined Grubb & Ellis as an associate director. ...
Grubb & Ellis: Henry Goldfarb.(WHO'S NEWS)
Dec 07, 2005 ... Grubb & Ellis has hired Henry Goldfarb as senior managing director. He came ...
Houlihan Lawrence.(WHO'S NEWS)
Dec 07, 2005 ... Houlihan Lawrence announced that William Dumke has joined the Scarsdale office as an associate broker. He joins Houlihan Lawrence after a ...
Stribling & Associates, Ltd.(promotes Christopher Wilson)(Brief Article)
Dec 07, 2005 ... Christopher Wilson has been promoted to executive vice president, director of operations at Stribling & Associates, Ltd. Having been with the company since 1998, he previously served as senior vice president and ...
M.J. Macaluso & Associates Arcitects.(WHO'S NEWS)
Dec 07, 2005 ... Andrew Weglinski has joined the design team at M.J. Macaluso & Associates Arcitects. Prior to this, he worked at a competitive ...
M.J. Macaluso & Associates.(WHO'S NEWS)
Dec 07, 2005 ... Ryan Sciopione, who has been with the company for four years, has been promoted to head of the Exterior Restoration Division at M.J. ...
HK Group.(WHO'S NEWS)
Dec 07, 2005 ... HK Group has hired William W. Simson as vice president. He is a 27-year veteran of IBM's sales and business development groups. ...
Hines: Michael Greene.(WHO'S NEWS)
Dec 07, 2005 ... Michael Greene has been promoted to vice president of construction in Hines' Washington, D.C. office. He joined the ...
Hines: Jim Gottschalk.(WHO'S NEWS)(Brief Article)
Dec 07, 2005 ... Jim Gottschalk has been promoted to vice president of construction in Hines' East Regional Office in New York City. He joined Hines in 1999 as a senior construction manager in charge of the Bear Stearns World Headquarters at 383 Madison Ave. In total, Gottschalk has supervised ...
Hines: Dean Fracassini.(WHO'S NEWS)
Dec 07, 2005 ... Dean Fracassini has been promoted to vice president of construction in Hines' East Regional Office in New York City. He joined the firm in ...
Grubb & Ellis: Barry Lewen.(WHO'S NEWS)
Dec 07, 2005 ... Barry Lewen has joined Grubb & Ellis as senior managing director. Prior to this he ran his own ...
Grubb & Ellis: Stanley Lindenfeld.(WHO'S NEWS)
Dec 07, 2005 ... Grubb & Ellis has hired Stanley Lindenfeld as senior managing director. ...
Grubb & Ellis: Alexander Milona.(WHO'S NEWS)
Dec 07, 2005 ... Alexander Milona has joined Grubb & Ellis as an associate. He began his real estate career as a ...
Grubb & Ellis: Joel Nowakowski.(WHO'S NEWS)
Dec 07, 2005 ... Joel Nowakowski has joined Grubb & Ellis as an associate. Prior to that, he worked for the Hartford Insurance Group ...
Massey Knakal Realty Services.(WHO'S NEWS)
Dec 07, 2005 ... Massey Knakal Realty Services is pleased to announce that Wayne Naylor has joined the Manhattan office as director of training. Prior to joining Massey Knakal, he acted as the ...
Itzhaki Properties.(Agents)
Dec 07, 2005 ... Itzhaki Properties has been retained as exclusive sales agent on the following properties: * 134 W. 18th St., a three-story residential/retail building in New York City; * 15 Mercer St., a retail condo in New York City; * 32 E. 32nd St., a three-story ...
Massey Knakal.(Sales)(Brief Article)
Dec 07, 2005 ... Massey Knakal has announced the following transactions: * The sale of 230 Livingston St. and 225 Schermerhorm St. in Brooklyn, N.Y. for $25 million; * The sale of 237 W. 10th St. in New York City in an all-cash transaction valued at $3.9 million; * The ...
Marcus & Millichap Real Estate Investment Brokerage Company.(Sales)
Dec 07, 2005 ... Marcus & Millichap Real Estate Investment Brokerage Company has announced the following transactions: * The sale of two mluti-family buildings in ...
Eastern Consolidated.(Sales)
Dec 07, 2005 ... Eastern Consolidated has sold a vacant, 4,500 s/f, two-family ...
CB Richard Ellis.(Sales)
Dec 07, 2005 ... CB Richard Ellis has sold 26,997 ...
NCB's young star invests in co-op finance niche.(PROFILE OF THE WEEK)(National Cooperative Bank Company)
Dec 07, 2005; ... Edward J. Howe III, senior vice president National Cooperative Bank Company Refinancing co-op apartment buildings may not inspire in lenders the same level of excitement as say a trophy Manhattan skyscraper, but those few who have established market share have quietly been ...
Museum of finance leases Grand Mezzanine at 48 Wall.
Dec 07, 2005 ... Kent M. Swig, President of Swig Equities, LLC, owner of the landmark building at 48 Wall Street, announced that the building has signed a lease totaling 31,000 s/f, for the entire Grand Mezzanine, Ground Floor Retail, and Concourse Level One space with the Museum of American Finance, a ...
Firm signs 24,000 s/f showroom deal at 1177 Sixth.(Brief Article)
Dec 07, 2005 ... CB Richard Ellis announced that Herman Miller, Inc., an industry-leading maker of office and residential furnishings, interior products, and related services, will move to 1177 Avenue of the Americas, where it has committed to a 23,980-sq.-ft. lease on the entire 17th floor. ...
Investment firm makes long-term commitment to 237 Park.
Dec 07, 2005 ... Monday Properties, the New York-based development, ownership and management company, has completed a lease expansion and extension with Jennison Associates LLC at 237 Park Avenue. The investment advisory firm has extended its lease for 118,000 s/f at the 1.2 million-square-foot ...
Madison Ave. space snapped up by lobby.
Dec 07, 2005 ... Colliers ABR, Inc. announced that American Israel Public Affairs Committee (AIPAC), America's Pro-Israel lobby, has signed a 10-year lease for 15,063 square feet on the entire 11th floor at 477 Madison Avenue. David L. Hoffman, Jr., Executive Managing Director; Stephen J. ...
Wachovia's Tower 49 expansion announced.
Dec 07, 2005 ... GVA Williams announced that Wachovia Bank will lease a ground-floor office space in Tower 49[R]--a 45-story luxury office tower located in the heart of Midtown Manhattan at 12 East 49th Street. Wachovia will lease an additional 15,250 s/f space in the trophy office building, ...
Partners announce first purchase at 229 W 28th.
Dec 07, 2005 ... The joint venture between Colliers ABR, Inc. and AEW Capital Management, L.P. announced that it has purchased 229 West 28th Street. The 156,000 s/f office building is the first purchase by the joint venture. AEW acquired the property on behalf of AEW Partners V, L.P., a real ...
LES apartment building for sale.
Dec 07, 2005 ... The Coda, a 29-unit, seven-story newly constructed apartment building, located on Manhattan's burgeoning Lower East Side is in the market for sale through Eastern Consolidated, at an all-cash asking price of $18.75 million. Eastern Consolidated's Peter Hauspurg, chairman and ...
SL Green pumps up retail assets with latest JV.
Dec 07, 2005 ... SL Green Realty Corp. in a joint venture with Jeff Sutton has acquired a controlling leasehold interest in 1604 Broadway--a retail property located on a prime corner in Manhattan's Times Square. In a separate transaction, the partners are acquiring the leasehold interest in 379 ...
Richest zip code attracts third Searle store.
Dec 07, 2005 ... Faith Hope Consolo, cChairman, and. Joseph A. Aquino, executive vice president, of Prudential Douglas Elliman's Retail Leasing and Sales Division, exclusively represented luxury retailer Searle in a 25-year lease for a 5,000-square-foot store on the ground floor of 1142-44 Third Avenue. ...
Related pays $505m for Equinox fitness clubs.
Dec 07, 2005 ... The Related Companies paid $505 million to buy upscale fitness club operator, Equinox Holdings, in partnership with Equinox Company Management. The sale is expected to close in January 2006. "Related is proud to be acquiring Equinox, a market leader with a broad portfolio of ...
Transit Triangle welcomes trio.(Maletzky Media, LLC, Spectrum Consulting Partners, LLC, Kaufman Organization)(Brief Article)
Dec 07, 2005 ... The Kaufman Organization is announcing the signing of three deals at 450 Seventh Avenue, one of the top buildings in the Fashion District. Asking prices for all transactions were in the mid-$30s per-square-foot range. Maletzky Media, LLC, a public relations firm that is seeking ...
One-of-a-kind chance.(Brief Article)
Dec 07, 2005 ... Adelaide Polsinelli, Senior Executive Broker at Besen & Associates, Inc. along with Partner Laurence Ross, Besen's Platinum Team, have been awarded the exclusive representation of a one of a kind development opportunity on the waterfront in a rapidly developing area of Flushing, Queens. ...
Colliers adds LA firm to fold.(Brief Article)
Dec 07, 2005 ... Colliers Macaulay Nicolls Inc., which operates as Colliers International, announced the closing of the transaction to purchase a majority stake in the Los Angeles area commercial real estate firm, Colliers Seeley International, Inc. This is one of the largest and most strategic ...
BPG buys 700,000 s/f facility.(BPG Properties Ltd., Visteon Systems LLC.)(Brief Article)
Dec 07, 2005 ... BPG Properties, Ltd. (BPG), the operating affiliate of Berwind Property Group, Ltd., announced t the acquisition of 2750 Morris Road, a 700,000 s/f office and manufacturing building located in Worcester Township, near Lansdale, Pennsylvania. The property consists of 87-acres ...
Government of Oman buys UN office condo.(Brief Article)
Dec 07, 2005 ... GVA Williams announced that it negotiated the sale of an office condominium at 3 Dag Hammarskjold Plaza, located at 305 East 47th Street. The Government of Oman purchased the 13,122 s/f office for approximately $6.8 million. The Permanent Mission of Oman to the United Nations ...
Itzhaki brokers uptown sale.
Dec 07, 2005 ... In a deal, which clearly underscores continuing heavy investor appetite for properties on the Upper West Side of Manhattan, 149151 West 78th Street has just traded for $5.1 million. The rental property is an income-producing, 18-unit, four-story, walk-up situated between ...
Double dip in Brooklyn.(United American Land, LLC buys two buildings from Emmes Asset Management)(Brief Article)
Dec 07, 2005 ... Two very similar buildings in Brooklyn's Fulton Mall District, 447449 Fulton Street and 497-501 Fulton Street, have traded for $12 million respectively, changing hands from seller Emmes Asset Management to buyer, the United American Land, LLC, led by Albert Laboz together with brothers ...
ABS tapped for West End sale.(ABS Partners Real Estate)(Brief Article)
Dec 07, 2005 ... ABS Partners Real Estate, LLC has been appointed the exclusive advisors to obtain bids for the possible sale of 240 West End Avenue. The unique 16-story residential building was designed by Rosario Candella and is located on the southeast corner of West 71st Street. ...
Leases.
Dec 07, 2005 ... New York T Square Properties, Inc. has announced the following transactions: * A 3,548 s/f lease at 45 Kensico Dr. in Mount Kisco; * A 2,903 s/f lease at 45 Keusico Dr. in Mount Kiseo; * A 1,710 s/f lease at 83 S. Bedford Rd. in Mount Kisco. ...
Waterbury commons adds city to its tenant roster.(Leases)
Dec 07, 2005 ... Only eight months after signing Waterbury Development Corporation, to its tenant roster, Waterbury Common office complex at 111-119 West Main Street, is welcoming the City of Waterbury, which has signed a 2-year lease for 24,000 s/f on the first and second floors of the Center and West ...
Gym moves to shopping center.(Brief Article)
Dec 07, 2005 ... GVA Williams of Connecticut announced that a fitness center, The Gym at Bloomfield Crossing, has signed a five-year, 10,226 s/f lease at the Bloomfield Crossing Shopping Center, located at 20-22 Mountain Avenue in Bloomfield, Connecticut. Dominick Musilli and Stacy Libby of GVA ...
Around town: events seminars meetings talks.(Calendar)
Dec 07, 2005 ... B'nai B'rith Luncheon Dec. 7 -- Jeffrey E. Levine, president, Levine Builders, will speak at the B'nai B'rith Real Estate Unit Luncheon to be held at noon at the Cornell Club, 6 E. 44th St., Ivy Room. His topic is "New York Building Boom: Williamsburg, Chelsea, Harlem, What's ...
The Association of Real Estate Women recently held a retail panel discussion.(AROUND TOWN: events seminars meetings talks)(Panel Discussion)
Dec 07, 2005 ... The Association of Real Estate Women recently held a retail panel discussion. Pictured I-r are: Moderator Elisabeth Butler, Crain's; AREW vice president Anne Teshima, Classic Realty LLC; AREW programs co-chair Iva Kravitz, Marketing ...
Dream team moves headquarters to shoppers' mecca.
Dec 07, 2005 ... Shawmut Design and Construction announced its new Retail Division's headquarters at 3 East 54th Street, right in the middle of the world's busiest luxury retail shopping area. For the past five years, Shawmut Retail has realized a 35 percent year-over-year growth. The opening of ...
Travel firm on the move.
Dec 07, 2005 ... GVA Williams of Connecticut announced that Universal Conference & Leisure Travel has leased 7,339 s/f at River Plaza, located at 9 West Broad Street in Stamford, Connecticut. The expanding company will be housed on the 6th floor of the recently-renovated River Plaza. The ...
Lease deal makes scents.
Dec 07, 2005 ... Adams & Co. Real Estate recently brokered a 5,300 s/f lease at 10 E. 34th St., the new headquarters of Borghese, Inc., a high-end cosmetics company headed by Georgette Mosbacher. Ms. Mosbacher leads the global cosmetic, skincare and fragrance company. She is well ...
Anchor Bar Franchise taps CBRE for national roll-out.
Dec 07, 2005 ... CB Richard Ellis-Buffalo (CBRE) announced today that the Anchor Bar Franchise Company, LLC has retained the firm to provide exclusive real estate representation. CBRE will represent the Anchor Bar Franchise Company, LLC with its nationwide roll-out of new restaurant properties ....
Dunne team brokers $121M Boston sale.
Dec 07, 2005 ... SP 101 ARCH, LLC, an entity controlled by CBRE Investors, recently closed on the sale of 101 Arch Street, a 407,172 SF office building in Boston, MA for $121.7 million or $300 PSF. The buyer was ING Clarion. The CB Richard Ellis investment sales team who represented the seller ...
Dornoch's new fund.(Dornoch Holdings LLC)(Brief Article)
Dec 07, 2005 ... Dornoch Holdings LLC of Morristown, N.J., has formed its second fund, the Dornoch Co-Investment Fund L.P., to continue the company's focus on acquiring and repositioning distressed residential and commercial properties in New Jersey and the metropolitan New York area. The Fund ...