Real Estate Weekly back issues from February 2006:
WTC blame game rumbles on.
Feb 01, 2006; ... The blame game over the lumbering redevelopment of the World Trade Center site rumbled on this week with Mayor Michael Bloomberg pointing the finger of blame firmly at the foot of developer, Larry Silverstein, who in turn said the Port Authority was the culprit. In his 2006 ...
400,000 s/f DOT lease, another downtown coup.
Feb 01, 2006; ... The City Department of Transportations has a signed a tentative deal for 400,000 s/f at 55 Water Street, a building where it plans to consolidate its many offices. CB Richard Ellis brokers, Howard Fiddle, Bradley E Gerla, Kenneth D. Rapp and Tom J. Shirocky, are representing ...
Home Depot goes to 345 Hudson.
Feb 01, 2006; ... Encouraged by the success of its first two Manhattan stores, which opened in 2004, sources have revealed that Home Depot will be signing a 100,000 s/f lease for a third Manhattan location to open on the first three floors of Trinity Real Estate's 345 Hudson Street, a 900,000 s/f building ...
China Center's 200,000 s/f lease biggest yet at Silverstein's 7WTC.
Feb 01, 2006 ... Beijing Vantone Real Estate Co., Ltd. Chairman Lun Feng and World Trade Center developer Larry A. Silverstein announced that a preliminary agreement has been reached to create the China Center--a business and cultural facility representing China's dynamic business community--within the ...
$195M residential building to be converted to condos.
Feb 01, 2006 ... World-Wide Group announced the completed sale of 88 Greenwich to Thor Equities for $195 million. The 1920s Art Deco building located at Rector and Greenwich Streets was converted into a 458-unit luxury rental property by World-Wide in 1999. World-Wide was represented ...
Cushman & Wakefield.(WHO'S NEWS)
Feb 01, 2006 ... Cushman & Wakefield announced that Suzy A. Reingold has joined the firm as an executive managing director for its New York City offices. She was ...
MortgageIT's Correspondent Lending Division.(Stanley R. Carraway Jr.)(Brief Article)
Feb 01, 2006 ... Stanley R. Carraway Jr. has been appointed to regional vice president of MortgageIT's Correspondent Lending Division. Carraway, who has more than 20 years of correspondent lending experience, joined ...
Eastern Union Commercial Real Estate.(WHO'S NEWS)
Feb 01, 2006 ... Eastern Union Commercial Real Estate is pleased to announce that Ted Rubin has been retained as a Consultant serving as senior managing director, corporate & business development.. He comes to Eastern Union ...
Fremont Investment & Loan.(WHO'S NEWS)
Feb 01, 2006 ... Carrie Nishikawa has been named assistant vice president and loan ...
Adam Leitman Bailey, P.C.(WHO'S NEWS)
Feb 01, 2006 ... Adam Leitman Bailey, P.C. is pleased to announce that Guy Arad has become a member of the firm. From negotiating commercial leases and advising corporations to completing thousands of real estate transactions since his entrance into the practice of law, Arad has successfully ...
Fameco Real Estate: Karen Mikulski.(WHO'S NEWS)
Feb 01, 2006 ... Karen Mikulski has joined Fameco Real Estate as a retail real estate specialist. An agent with The Shopping Center Group, Virginia division since 1997 and a partner in the ...
Fameco Real Estate: Fred Younkin.(WHO'S NEWS)
Feb 01, 2006 ... Fameco Real Estate has hired Fred Younkin as a retail real estate specialist. He came from the Norfolk ...
The Penson Companies.(WHO'S NEWS)
Feb 01, 2006 ... Martin Kapelner has joined The Penson Companies as director of investor relations. Prior to this he was ...
Eisner LLP.(WHO'S NEWS)
Feb 01, 2006 ... Eisner LLP announced it has promoted Martin Osher to the level of director in the firm's Real Estate Practice Group. He has been involved in numerous commercial, residential and other engagements including audits ...
The Park Avenue Bank.(Edward L. Beyer appointed)(Brief Article)
Feb 01, 2006 ... Edward L. Beyer has been appointed chief lending officer, executive vice president for The Park Avenue Bank headquartered in New York City. Beyer's distinguished career includes former positions as division head with ORIX Real Estate, ...
Time Equities Inc.(Robert Singer appointed)(Brief Article)
Feb 01, 2006 ... Time Equities Inc. is pleased to announce that Robert Singer has joined the company as an associate in the firm's acquisitions and development group. Most recently, he spent three years working with a private New Jersey development firm where he managed ...
Home Properties, Inc.(WHO'S NEWS)
Feb 01, 2006 ... Home Properties, Inc. announced the promotion of John E. Smith to senior vice president and chief investment officer. Prior to joining Home Properties in 1997, he was general manager for ...
Palisades Financial.(WHO'S NEWS)
Feb 01, 2006 ... Palisades Financial has hired John "Jack" Chimento as a principal. He spent the last 20 years at Bear Stearns, ...
The Community Preservation Corporation.(WHO'S NEWS)
Feb 01, 2006 ... Barbara Baer, a former New York City public official, affordable housing expert and attorney, has joined The Community Preservation Corporation as vice president for governmental affairs. Most recently, Baer served as deputy borough president to Manhattan Borough President C ....
Onyx Equities.(Michael K. Nevins apppointed)(Brief Article)
Feb 01, 2006 ... Onyx Equities has announced the addition of Michael K. Nevins as vice president of asset management. Prior to joining Onyx, he was a vice president of leasing at Mack-Cali Realty Corporation, where he led a team responsible for the ...
Meringoff Properties, Inc.(WHO'S NEWS)
Feb 01, 2006 ... Meringoff Properties, Inc. announced that Jared S. Solomon has joined as an assistant vice president. Prior to joining Meringoff Properties, Inc., he worked with Siemens Real ...
The Lincoln Building.(Tom Beissel appointed)(Brief Article)
Feb 01, 2006 ... Tom Beissel, a 25-year veteran of commercial real estate, will assume the role of general manager of The Lincoln Building, announced Newmark Knight Frank, the building's managing and leasing agent. He ...
Cappelli Enterprises, Inc.(Paul Slaney appointed)(Brief Article)
Feb 01, 2006 ... Cappelli Enterprises, Inc. has recently appointed Paul Slaney as chief operating officer and general counsel of George A. Fuller Company, Inc. Prior to this, he was general counsel and managing director of ...
Gumley-Haft Real Estate has been named Management Company of the Year by The New York Association of Realty Managers.(WHO'S NEWS)
Feb 01, 2006 ... Gumley-Haft Real Estate has been named Management Company of the Year by The New York Association of Realty Managers. As a full service residential management company, Gumley-Haft consistently enhances the ...
The Royal Properties leasing team of Jeff Kintzer, Jr. and David Landes have been named exclusive leasing brokers for Main Street Lofts, a 25,000 s/f retail and apartment development now under construction in Yonkers, N.Y.(Agents)
Feb 01, 2006 ... The Royal Properties leasing team of Jeff Kintzer, Jr. and David Landes have been named exclusive leasing brokers for Main Street Lofts, a 25,000 s/f retail and apartment ...
The Goldstein Group.(contracts with The Foundry, Ramapo Plaza and Mt. Pleasant Shopping Center)(Brief Article)
Feb 01, 2006 ... The Goldstein Group has been appointed the exclusive agent for the following retail properties: * The Foundry, a new 130,000 s/f mixed-use, entertainment-based development located on Broad St. in Trenton, N.J.; * Ramapo ...
Massey Knakal Realty Services.(Sales)
Feb 01, 2006 ... Massey Knakal Realty Services has announced the following transactions: * The sale of a three-story, mixed-use building at 165 West End Ave. in Brooklyn, N.Y. for $2.65 million; * The sale of a six-story, mixed-use building at 14 E. 52nd St. in New York City for ...
The Kislak Company, Inc.(Sales)
Feb 01, 2006 ... The Kislak Company, Inc. has consummated two recent sale transactions along the popular Route 17 retail corridor in Bergen County, N.J. Jeffrey Weiner, co-managing director, president, represented the seller, Tarragon Properties, a publicly traded REIT, in the sale of a 36,000 s/f shopping ...
Eugene Giscombe is a man about Harlem.(PROFILE OF THE WEEK: Eugene Giscombe, President & CEO, Giscombe Henderson Real Estate, Inc.)
Feb 01, 2006 ... Eugene Giscombe is a man about Harlem. When a person opens a business in his hometown he gets to know about his neighborhood more intimately than most of its occupants. When it is the real estate business this is even more true. Giscombe grew up in Harlem in the 1940's. Today he ...
Adams & Co. brokered a 10-year, 2,648 s/f lease at 99 Park Ave., NYC, for Vanderburgh & Co. Inc. David Menaged of Adams & Co. represented the tenant, while Josh Click, Steven Bauer and Paul Glickman of Cushman & Wakefield represented the landlord.(New York)
Feb 01, 2006 ... Adams & Co. brokered a 10-year, 2,648 s/f lease at 99 Park Ave., NYC, for Vanderburgh & Co. Inc. David Menaged of Adams & Co ....
Sitt Asset arranged a five year lease for 1,100 s/f for Lane Crawford at 1370 Broadway.(New York)
Feb 01, 2006 ... Sitt Asset arranged a five year lease for 1,100 s/f for Lane Crawford ...
Adams & Co. brokered a five-year, 1,719 s/f lease at 37 W. 57th St. for Latincollector Inc., Michael Greenberg of Adams & Co. represented the tenant while Matt Coudert of George Comfort & Sons represented the landlord.(New York)
Feb 01, 2006 ... Adams & Co. brokered a five-year, 1,719 s/f lease at 37 W. 57th St. for Latincollector Inc., Michael Greenberg of Adams & Co. ...
Juice Wireless, Inc. will expand and relocate its Chelsea offices in New York City to a newly renovated, state-of-the-technology headquarters location in Midtown.(New York)
Feb 01, 2006 ... Juice Wireless, Inc. will expand and relocate its Chelsea offices in New York City to a newly renovated, state-of-the-technology headquarters location in Midtown. Juice has signed a five year lease for 1850 s/f at 14 East 44th ...
Insound, a leading website for indie rock and cutting edge music, is expanding and moving to 6,000 s/f of new offices.(New York)
Feb 01, 2006 ... Insound, a leading website for indie rock and cutting edge music, is expanding and moving to 6,000 s/f of new offices. Their new address will be at 221 W. 17th St. in New York City. They signed a 7-year lease with the Landlord, Drory & Boaz Sharoni, who runs an ...
Goldstein Group.(contracts with commercial real estates)(Brief Article)
Feb 01, 2006 ... The Goldstein Group has completed the following transactions: * Floorsmart signed an 8,100 s/f lease at 437 Route 10 East in Livingston. Chuck Lanyard represented both the tenant and the landlord, Mt. Pleasant Realty Associates; * Just Salon & Spa signed a 5,000 s/f ...
The Goldstein Group, New Jersey's leading full-service retail brokerage firm, announced the company has closed five leases on behalf of UPS in New Jersey in 2005.(New Jersey)
Feb 01, 2006 ... The Goldstein Group, New Jersey's leading full-service retail brokerage firm, announced the company has closed five leases on behalf of UPS in New Jersey in 2005. Florian Suserman exclusively represented the real estate needs of UPS in New Jersey and is responsible for ...
NAI James E. Hanson brokered a 3,400 s/f, three-year lease for Craig's Storage and Distribution Corp.(New Jersey)
Feb 01, 2006 ... NAI James E. Hanson brokered a 3,400 s/f, three-year lease for Craig's Storage and Distribution Corp. at 65 Railroad Avenue in Ridgefield. NAI ...
Miriam Skydell and Associates.(contracts with Kushner Properties)(Brief Article)
Feb 01, 2006 ... Miriam Skydell and Associates, pediatric occupational therapists, signed a long-term lease for 1,438 s/f at 16-00 Route 208 in Fair Lawn, announced Kushner Properties, which ...
W&M Properties.(Connecticut)
Feb 01, 2006 ... W&M Properties announced a lease for 3,577 s/f of office space at 100 First Stamford Place for hedge fund manager, Mason Capital Management. Jeffrey H. Newman, the marketing and ...
GVA Williams.(contracts with HSBC Bank USA N.A.)(Brief Article)
Feb 01, 2006 ... GVA Williams of Connecticut announced that HSBC Bank USA has signed a lease to open a bank branch at the Corner at Split Rock, the new shopping center project construction in Shelton, Conn. The bank will occupy a 4,000 s/f space located at the Bridgeport ...
Home Depot, Costco lead big box charge to Harlem.
Feb 01, 2006; ... Blumenfeld Development Corporation and Forest City Ratner have confirmed that Home Depot has signed a 110,000 s/f lease for space at Harlem's East River Plaza, now under construction on Franklin D. Roosevelt Drive, and Costco is expected to close a 135,000 s/f deal at the same property ...
Trader Joe's to open first Manhattan store.
Feb 01, 2006; ... Specialty grocer, Trader Joe's, is set to open its first store in the Manhattan market within the next few months. The Monrovia, Calif.-based business will occupy 15,000 s/f at New York University's Palladium residence hall on 142 East 14th Street, including a separate wine shop ...
Sears signs 44,000 s/f Hudson Square lease.
Feb 01, 2006 ... Sears, a wholly owned subsidiary of Sears Holdings Corp., a leading broadline retailer providing merchandise and related services, has committed to a new 44,000 square-foot lease at Trinity Real Estate's trophy property, One Hudson Square. The Fortune 500 company intends to ...
JEMB finds right spot for Sephora.
Feb 01, 2006 ... JEMB Realty announced that it has signed a long-term lease with Sephora, the beauty authority, for a 6,700 s/f retail store at 150 Broadway, The Westinghouse Building. "Due to its immediate proximity to major subway lines and the NJ PATH, Broadway is the most traversed ...
Kelly to address IREM.
Feb 01, 2006 ... The Greater New York Chapter of the Institute of Real Estate Management announced that Raymond W. Kellly, Police Commissioner of the City of New York, will be the keynote speaker at their February 15 luncheon at the New York Helmsley Hotel. Commented IREM chapter president, Dawn ...
165,183 s/f B'way renewal, expansion.
Feb 01, 2006 ... SL Green Realty Corp. has completed a 10-year lease expansion and renewal agreement at 1372 Broadway in New York City. Ross Stores, Inc., a Fortune 500 and Nasdaq 100 company, the nation's second largest off-price retail company will expand from 130,075 s/f to 165,183 s/f. ...
Marcus & Millichap marketing prime conversion sites.
Feb 01, 2006 ... Marcus & Millichap Real Estate Investment Company is marketing two prime sites at either end of the city. The brokerage firm has received the exclusive listing to market for sale a 19-unit apartment property located in New York City at 7 East 75th Street. The list price of ...
Massey Knakal sells medical building.
Feb 01, 2006 ... A six-story medical building at 247 Third Avenue was sold by Massey Knakal Realty Services in an all-cash transaction valued at $13,500,000. The 63-foot-wide property, a former manufacturing warehouse, is located on the east side of Third Street between East 20th and East ...
REBNY announces new executives, governors.
Feb 01, 2006 ... The Real Estate Board of New York (REBNY) recently installed five new members to its 2006 Executive Committee and nine members to the Board of Governors. The new members of REBNY's Executive Committee for 2006 are: Laurence Gluck, president, Stellar Management; Barry M. Gosin, ...
Asset management firm inks 33,000 s/f Madison renewal.
Feb 01, 2006 ... W.P. Stewart & Co., an asset management company, signed a 33,171 s/f renewal and lease extension at 527 Madison Avenue. W.P. Stewart will continue to occupy five floors in the high-rise section of this exclusive midtown property owned by Equity Office Properties. In ...
JOSS' latest capital gain.(JOSS Realty Partners, LLC)(Brief Article)
Feb 01, 2006 ... JOSS Realty Partners, LLC, has acquired 1129 20th Street in Washington D.C. The property is a 127,500 s/f Class B office building currently 87% leased. The company plans to redevelop and reposition the office building to Class A status. As part of the redevelopment ...
Panelists present their views on foreign investment trends.(Panel Discussion)
Feb 01, 2006 ... FIABCI-USA New York Local Council (International Federation of Real Estate) and REBNY (Real Estate Board of New York) are co-sponsoring this seminar on Tuesday, February 7 from 6:00 p.m until 8:00 p.m at J.P. Morgan Chase Auditorium, located at 270 Park Avenue. The panelists are: Stephen ...
Around town: events seminars meetings talks.
Feb 01, 2006 ... B'nai B'rith Luncheon Feb. 1--William C. Rudin, president, Rudin Management, 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. His topic is "Resurgence of Lower Manhattan." Cost: $55 in advance; $65 at the door. Call ...
Harbor view for ship owners insurance company.
Feb 01, 2006 ... Cushman & Wakefield announced that The American Club, formally known as The American Steamship Owners Mutual Protection & Indemnity Association, has leased 25,640 s/f at One Battery Park Plaza. The American Club, a ship owners' insurance organization, will relocate from 60 Broad ...
Raskob racks them up in the Fashion District.
Feb 01, 2006 ... Barbara Raskob of the Kaufman Organization has inked nine leases totaling 21,876 s/f at the Nelson Tower, located at 450 Seventh Ave., in just one month. Asking prices for all transactions were in the upper-$30s per-square-foot range. "Vacancy rates in the Fashion District are ...
DUMBO's new tenant.
Feb 01, 2006 ... Two Trees Management Co. announced that AAMES Funding Corporation has leased office space at 55 Washington Street in DUMBO. "We're delighted to welcome AAMES Funding Corporation and its stellar reputation to DUMBO," said Louise Lansky Ehrmann, ...
Five resolutions that will help improve your business.(INSIDER'S OUTLOOK)
Feb 01, 2006; ... This time of the year is a great opportunity to set new business goals. Here are five resolutions for you to consider and to implement: Resolution 1: I will keep a better eye on my finances Cut your taxes. Take action to pay only what you owe and not one penny more ....
Commonly asked investor question about 1031--Part 1.(INSIDER'S OUTLOOK)(tax deferred exchange)
Feb 01, 2006; ... In my experience, investors commonly ask many of the same questions when contemplating a tax deferred exchange. Below are responses to some of the more common questions. Investors should be careful not to generalize and ask a lawyer and CPA for advice to determine how these ...
Seminar to focus on investment.
Feb 01, 2006 ... The International Federation of Real Estate New York Local Council and REBNY are co-sponsoring a seminar on "Foreign Investment in U.S. Real Estate" on February 7th from 6:00 p.m to 8:00 p.m. The event will take place at 270 Park Ave. The panelists will include Stephen J ....
Software firm takes full floor on Seventh.(Murex N.A.)(Brief Article)
Feb 01, 2006 ... In a move to accommodate its recent explosive growth, Murex N.A., a U.S. subsidiary of a French software company specializing in products for major financial institutions, has signed a new lease on the entire 14th floor for 20,500 s/f at Reckson Realty Associates' 810 Seventh Avenue. ...
Advisors relocate their corporate headquarters.
Feb 01, 2006 ... PBS Realty Advisors, LLC announced that Train Babcock Advisors has signed a 10,000 s/f lease for new corporate headquarters at 100 Park Avenue. Robert Emden, Stephen Gordon and David Emden of PBS Realty Advisors represented Train Babcock Advisors in relocating from 667 Madison ...
Lawyers sublease 20,000 s/f on Park.
Feb 01, 2006 ... Cushman & Wakefield announced that Entwistle & Cappucci LLP, one of the nation's leading corporate, transactional and securities litigation firms, has signed a 20,000 s/f sublease at 280 Park Ave. The firm signed a nine-year sublease from Bank of America for the entire 26th ...
Staubach gets account for 200,000 s/f Jersey space.(NEW JERSEY)
Feb 01, 2006 ... The Staubach Company has been selected to market 200,000 s/f of sublease space on behalf of The American Institute of Certified Public Accountants (AICPA), at Harborside Financial Center, Plaza 3 in Jersey City. This is one of the largest blocks of contiguous space available on ...
Weichert to serve as agent for 59,000 s/f Madison Ave. space.(Weichert Commercial Brokerage Inc.)(Brief Article)
Feb 01, 2006 ... Weichert Commercial Brokerage, Inc. has been appointed as the exclusive leasing agent for 310 Madison Av. in Morristown by Advance Realty Group. WCB's Michele Andre, senior vice president, and F. Jon Williams, sales associate, will be responsible for the marketing and leasing of the ...
Medina is first broker to join New Jersey Chamber.(NEW JERSEY)
Feb 01, 2006 ... The New Jersey Chamber of Commerce has named Cushman & Wakefield's Gualberto "Gil" Medina to its board of directors. Medina, who serves as executive managing director and head of Cushman & Wakefield's New Jersey offices, represents the only commercial real estate brokerage ...