Real Estate Weekly back issues from November 2006:
CB Richard Ellis celebrates a century of service this year.(C.B. Richard Ellis)(Brief article)
Nov 01, 2006 ... [ILLUSTRATION OMITTED] Caption: CB Richard Ellis celebrates a century of service this year. The firm recently held a celebration to mark the milestone at the new Morgan Library attended by some 400 brokers and clients of the company. During the event, a giant replica of a New ...
Waiting to see results of 350 Park bidding.
Nov 01, 2006; ... Bids for 350 Park Avenue were only due this week, but investment sales brokers and real estate investors alike are already speculating whether the rigid process being used to sell the 540,000 s/f building will take a bite out of its sales price. Upon the insistence of the ...
Broadway Partners in talks for deal at Madison Ave.
Nov 01, 2006; ... Broadway Partners looks like it had an ace up its sleeve when it laid down $550 million for 340 Madison Avenue in mid October. As the real estate investment firm was putting together its winning bid, it is said to have been in talks with Pricewaterhouse Coopers to fill a ...
Vornado makes room on 7th for investment managers.
Nov 01, 2006; ... Investment management firm, GSC Group, has expanded its offices in Manhattan, leasing the 26th and 27th floors at 888 Seventh Avenue for rents around $90 per s/f. The firm will be relocating from Tower 49 where it currently has 7,000 s/f on the 32nd floor, far less than the 39,600 s/f it ...
Business brisk at Carnegie Hall Tower.
Nov 01, 2006; ... IAC/InterActiveCorp's imminent departure from Carnegie Hall Tower for its new Frank Gehry designed headquarters along the West Side Highway has created a flurry of leasing activity in the high-end office building that have netted some of the city's highest rents. ...
Finance giant said to be eyeing 150,000 s/f.(Brief article)
Nov 01, 2006; ... After returning downtown with an 86,000 s/f lease at 160 Water Street last April, AIG is now considering an even bigger block of space in Lower Manhattan. The firm is said to be eyeing 150,000 s/f at 32 Old Slip in a deal that would ...
Merrill Lynch has renewed its two floors at Citigroup Center for $105 per s/f rents, a major jump, brokers say, over what it had been paying for the roughly 60,000 s/f space.
Nov 01, 2006; ... Merrill Lynch has renewed its two floors at Citigroup Center for $105 per s/f rents, a major jump, brokers say, over what it had been paying for the roughly 60,000 s/f space. The deal is small potatoes compared to potentially bold real estate moves the firm may be planning. Sources say ...
The Royal Bank of Canada is finally finishing up its 250,000 s/f lease with Brookfield Properties at 3 World Financial Center.
Nov 01, 2006; ... The Royal Bank of Canada is finally finishing up its 250,000 s/f lease with Brookfield Properties at 3 World Financial Center. Although news of the deal was reported in May, sources say that the negotiations cooled in the ensuing months because the bank had concerns whether the space would ...
ABN AMRO is still searching for space downtown in which to relocate its offices from Park Avenue Plaza.
Nov 01, 2006; ... ABN AMRO is still searching for space downtown in which to relocate its offices from Park Avenue Plaza. The firm is said to be looking for first class office stock, a search that has led it to focus increasing on 7 World Trade Center. Hudson Square lagged every office district ...
Correction.(Correction notice)
Nov 01, 2006 ... CORRECTION: In the October 18 edition of Real Estate Weekly, the sale price for Two Park Avenue was incorrectly reported as $240 million. The sale price was in fact $450 million. A typographical error also ...
Fed keeps up its balancing act.
Nov 01, 2006; ... The Federal Reserve left interest rates at 5.25% for its third straight meeting last Wednesday. The pauses have been indicative of the wait-and-see approach that the Fed has taken in dealing with the two major economic indicators that determine its actions on monetary policy; GDP growth ...
Prudential Commercial Real Estate (CRES).(WHO'S NEWS)
Nov 01, 2006 ... Prudential Commercial Real Estate (CRES) announced the appointment of Al Jawdat as licensed real estate sales associate. In this role, Jawdat will concentrate in the area of commercial sales and leasing. Prior to joining Prudential CRES, Jawdat was a successful entrepreneur for ...
The Treeline Companies.(WHO'S NEWS)
Nov 01, 2006 ... The Treeline Companies named Dara A.L. Coope vice president and general counsel, responsible for all aspects of Treeline's legal department, including support of all of the company's leasing, financing and corporate needs. Coope joins Treeline with more than 10 years of legal ...
Cushman & Wakefield.(WHO'S NEWS)
Nov 01, 2006 ... Cushman & Wakefield announced the promotion of two professionals in the firm's Global Consulting Group. Ed Donnery has been promoted to senior managing director and Charles Wu has been promoted to director. Since joining in 2001, Donnery has planned and executed institutional ...
Trammell Crow Company.(WHO'S NEWS)
Nov 01, 2006 ... Trammell Crow Company announced that Paul Enea has joined its New York team as vice president of Brokerage Services. Prior to joining Trammell Crow Company, Enea held a senior vice president position with New America International. With more than 20 years of commercial real ...
GVA Williams.(WHO'S NEWS)
Nov 01, 2006 ... GVA Williams announced that Brian Feist has joined the firm as senior managing director. Feist possesses 25 years of experience in the commercial real estate industry and is an expert provider of tenant and landlord advisory services. At GVA Williams, he will continue to ...
Cushman & Wakefield: Kenneth J. Kalman.(WHO'S NEWS)
Nov 01, 2006 ... Cushman & Wakefield announced Kenneth J. Kalman, director, client solutions information systems, has been appointed as vice-chair of the National Council of Real Estate Fiduciaries (NCREIF) Information Management Committee. Kalman joined Cushman & Wakefield in July, 1979, and ...
Cushman & Wakefield: Donald M. Preate.(WHO'S NEWS)
Nov 01, 2006 ... Cushman & Wakefield announced the promotion of Donald M. Preate to executive director. He was previously a senior director and is one of the youngest Cushman & Wakefield professionals to ever attain this title. A leading brokerage professional based in Cushman & Wakefield's ...
Time Equities Inc.(appointment of Luis Cozza as executive )(Brief article)
Nov 01, 2006 ... Time Equities Inc. announced that Luis Cozza has joined Time Equities as an executive in the acquisitions department. Cozza has already completed a 75,000 square-foot acquisition in northeast Philadelphia for TEI and has another $60 million of transactions in the pipeline for 2006 through ...
Besen & Associates.(Sales)
Nov 01, 2006 ... Besen & Associates announced the following transaction: * The sale of 2430 University Avenue, Bronx, NY, a 5 ...
Cornerstone Property Group, Inc.(Sales)
Nov 01, 2006 ... Cornerstone Property Group, Inc. announced the following transactions: * The $3,100,000 sale of 522 Ninth Avenue, New York, NY, a vacant 3,388 square foot four-story walkup apartment building. Brian Reilly and Mike Saltz of Reilly Mann Newell Realty Group represented ...
Marcus & Millichap Real Estate Investment Brokerage Company.(Sales)
Nov 01, 2006 ... Marcus & Millichap Real Estate Investment Brokerage Company announced the following transactions: * The sale of three investment properties in New Jersey for $5,685,000. The assets are located in Jersey City, Maplewood and Elizabeth. Nat Gambuzza, senior associate in the New ...
The Goldstein Group.(Brief article)
Nov 01, 2006 ... The Goldstein Group announced the following new exclusives in New Jersey: * Paramus: 41,000 s/f strip center located at 184 Route 17 North. Ryan Glastein and Chuck Lanyard are responsible for this assignment. * Rutherford: A 25,000 s/f, freestanding building at 310 ...
Brothers continue 100 years of family traditions.(PROFILE OF THE WEEK: Bruce, Lawrence & Frederick Benenson, Benenson Capital Partners, LLC)
Nov 01, 2006 ... The incredible turnout at Benenson Capital Partners LLC, three-day, 100-year anniversary party extravaganza including Senator Charles E. Schumer, former Mayor David Dinkins and Cardinal Egan--bore testament to the firms' staying power in the industry. "Everyone who showed up was ...
Rangel gets out the vote.(Charles B. Rangel )(Biography)
Nov 01, 2006; ... Congressman Charles B. Rangel championed the get out to vote effort when he addressed the October luncheon of the Associated Builders and Owners. The Ranking Member of the House's powerful Ways & Means, Rangel said it was every member's patriotic duty to vote so that the hopes ...
Arlene Wysong dead at age 66.(Obituary)
Nov 01, 2006 ... Respected commercial broker, Arlene Wysong, died at her home in New York on October 25, 2006. Ms. Wysong, a native New Yorker and longtime resident of Manhattan's Upper West Side, was 66 years old. Ms. Wysong was a senior managing director and division head of the not-for-profit ...
Renovation complete, Green recaps 1250 B'way to $260m.(Brief article)
Nov 01, 2006 ... SL Green Realty Corp. announced that the company has recapitalized 1250 Broadway to reflect the property's increase in value from $126.5 million in 2001, when it entered into a joint venture partnership with SITQ, a subsidiary of Caisse de depot et placement du Quebec, to $260 million ...
City's Beekman and Eastgate hotels sold to real estate fund.
Nov 01, 2006 ... Anglo Irish Bank announced the financing and acquisition of the Beekman Tower Hotel and Eastgate Tower Hotel, two prime properties located in Midtown Manhattan. The properties were acquired on behalf of the Peninsula Real Estate Fund I, LP (Peninsula), an equity fund created by ...
SL Green pumps another $80m into retail; signs new Apple lease.
Nov 01, 2006 ... SL Green Realty Corp. announced two major additions to its retail joint venture with Jeff Sutton: 717 Fifth Avenue and 720 Fifth Avenue in New York. The company also announced that its venture with Sutton had entered into a major lease with Apple Computer Inc. at its West 34th ...
Reckson closes on 134,000 s/f lease with NHL.
Nov 01, 2006 ... Reckson Associates Realty Corp announced that the National Hockey League (NHL) has signed a long-term, 133,727 s/f lease at its prestigious midtown office tower, 1185 Avenue of the Americas. The lease includes office space on five contiguous floors for the League's headquarters. ...
Cycling specialist opens in TriBeCa.(Cadence Cycling )(Brief article)
Nov 01, 2006 ... Cadence Cycling and Multisport Centers, purveyors of top-of-the-line customized cycling equipment, has signed a lease for an 11,000 s/f space in the heart of TriBeCa. Cadence, the nation's only comprehensive center for personalized cycling and multisport equipment and training ...
JRT closes 11 deals at 780 Third Ave.
Nov 01, 2006 ... Leasing in midtown Manhattan continues to be active as evidenced by 11 recently announced lease agreements totaling approximately 54,420 s/f of executive office space at 780 Third Ave., in Midtown Manhattan. JRT Realty Group, Inc., along with its strategic alliance partner, Cushman & ...
Search firm finds home on Fifth.(Sextant Search Partners Inc)(Brief article)
Nov 01, 2006 ... SL Green Realty Corp. announced that it completed a new ten-year lease for the New York headquarters of Sextant Search Partners, Inc. covering 20,426 s/f at 521 Fifth Avenue. Sextant Search Partners is an executive search firm focused exclusively on recruiting senior ...
The National Realty Club lunch meeting held recently at The Williams Club featured a panel of notable experts in the New York mortgage finance field, who discussed current property financing innovations and trends.(Discussion)
Nov 01, 2006 ... [ILLUSTRATION OMITTED] Caption: The National Realty Club lunch meeting held recently at The Williams Club featured a panel of notable experts in the New York mortgage finance field, who discussed current property financing innovations and trends. The panel was moderated by Allan ...
Marcus & Millichap closes on homes.(Brief article)
Nov 01, 2006 ... Marcus & Millichap Real Estate Investment Brokerage Company has closed on Tuscany Villa Apartments, in East Greenbush, NY. The property includes a playground as well as approximately 3 additional acres of land. "Its location, which is within close proximity to the City of ...
L&T building sold to investor.(Massey Knakal Realty Services Inc)(Lord and Taylor Dry Goods Store)(Brief article)
Nov 01, 2006 ... Massey Knakal chairman, Robert Knakal, and CEO, John Ciraulo, have sold the original Lord & Taylor Dry Goods Store at 901 Broadway for $17,375,000. The cast-iron mixed-use building in the Flatiron District was originally built in 1867. Located on the corner of East 20th Street ...
Brooklyn plant fetches $15m.(Kalmon Dolgin Affiliates)(Brief article)
Nov 01, 2006 ... In a transaction valued at $15 million, Kalmon Dolgin Affiliates' Neil Dolgin and Jeffrey Unger have arranged the sale of Gussco Manufacturing Plant, the 167,000 s/f, three-story concrete and steel industrial building with a 20,000s/f parking lot located at 5112 Second Avenue in the Sunset ...
Studley helps manufacturer land safely on 42nd St.(Marc Shapses of Studley helped Haworth to set up new showroom )
Nov 01, 2006 ... Haworth, one of the world's largest designers and manufacturers of workspaces and furniture, will establish a prominent Midtown showroom and office presence. The Michigan-based company has leased 31,000 s/f on the second floor of 125 Park Avenue. Haworth will occupy the former ...
SL Green completes 1250 B'way lease up.
Nov 01, 2006 ... SL Green Realty Corp. announced that it has signed two leases at 1250 Broadway in New York City, totaling 50,924 s/f. These transactions result in 100% occupancy at the property. The 39-story, Class A building, with 702,763 rentable square feet, is located just south of Herald ...
Moinian welcomes Delia's to W23rd St. building.
Nov 01, 2006 ... The Moinian Group has inked a 52,220 s/f lease on the entire 10th floor and partial 9th floor at 50 W. 23rd Street for Delia's, the internationally known fashion retailer. Daniel Gohari, vice president of leasing, made the announcement. Newmark Knight Franks' Andrew ...
R&D giant leases 66,000 s/f of lab space in Brewster, NY.
Nov 01, 2006 ... Akzo Nobel, a Global Fortune 500 Company based in the Netherlands, has committed to a 66,000 s/f lease at the Orchard Ridge Building 2, located at 281 Fields Lane in Brewster, NY. Currently located at 1 Livingstone Avenue in Dobbs Ferry, NY, the Surfactants Research and ...
Biotech leader takes 53,000 s/f 'blank canvas' in Shelton, CT.
Nov 01, 2006 ... In a transaction arranged by the Connecticut office of CB Richard Ellis, Cara Therapeutics, an emerging leader in the field of biotechnology and drug discovery, has committed to 53,040 s/f of space at One Parrott Drive in Shelton, CT. The biotechnology company plans to expand and relocate ...
26-acres for sale.
Nov 01, 2006 ... Cushman & Wakefield announced its appointment by Pitney Bowes Inc. to sell three parcels totaling 26 acres of land located at Waterview Drive in Shelton, Conn. The property, located off exit 13 from Route 8, is commercially zoned for light industrial park development. Jamie ...
Law firms double up on Third Ave.
Nov 01, 2006 ... SageGroupAssociates, a division of Sage Realty Corporation, announced the signing of a 10-year lease at its 747 Third Avenue building by two of New York's top commercial, white-collar criminal law firms, Krantz & Berman LLP and the Law Offices of Gordon Mehler PLLC. The firms ...
Midtown tenant heads downtown in search of value for money.
Nov 01, 2006 ... Colliers ABR, Inc. announced that GovernanceMetrics International, Inc. (GMI), an independent corporate governance research and rating agency, has signed a seven-year lease for 6,000 s/f at 55 Broadway in a move that will bring the firm from midtown to downtown Manhattan. Robert ...
Quick-Slide Corp picks Long Island location.(Quick-Slide Corp )(Brief article)
Nov 01, 2006 ... Quick-Slide Corp has leased new space in Farmingdale, NY, in a deal arranged by Long Island's Sutton & Edwards Inc. / TCN Worldwide. Quick-Slide, a distributor and installer of custom tub and shower enclosures and other home products including bath accessories, vanities, closet ...
Besen's Platinum Team tapped for exclusives.(Laurence Ross, Adelaide Polsinelli and Ellen Volpe)(Brief article)
Nov 01, 2006 ... Laurence Ross, Adelaide Polsinelli and Ellen Volpe, of The Besen Platinum Team, announced their latest exclusive, a development opportunity at 469 Fishkill Avenue, in upstate New York. Situated along the Hudson River in Dutchess County, Beacon is in the midst of a renaissance ...
Around town: events seminars meetings talks.(Calendar)
Nov 01, 2006 ... B'nai B'rith Real Estate Luncheon Nov. 1: Jonathan J. Miller, principal, Miller Samuel Inc., will speak at the B'nai B'rith Real Estate Unit Luncheon to be held at noon at the Cornell Club, 6 East 44th Street, Ivy Room. His topic is "Manhattan's Housing Market: Where We Are, ...
The theme for the Young Mortgage Bankers Association (YMBA) October luncheon was "From Boutique to Behemoth.
Nov 01, 2006 ... [ILLUSTRATION OMITTED] Caption: The theme for the Young Mortgage Bankers Association (YMBA) October luncheon was "From Boutique to Behemoth: The Resurgence of the Hotel Sector in NYC" and featured Richard Born of BD Hotels, Elif Bali, of Loews Hotels and Joseph Vassallo of ...
Marcus & Millichap lists $26m in investment properties.
Nov 01, 2006 ... Marcus & Millichap Real Estate Investment Brokerage Company, the nation's largest real estate investment brokerage firm, has the exclusive listing for the Green Portfolio and a six-story commercial building in Manhattan. The 142-unit Green Portfolio is listed at $18.5 million and the ...
Video firm relocates to 390 Park Avenue.
Nov 01, 2006 ... CRESA Partners has negotiated a short-term lease providing PixFusion LLC with 7,400 s/f at 390 Park Avenue South in Manhattan, said Jack Petrie, CRESA senior vice president. PixFusion, a provider of personalized video technology, is relocating from 535 West 34th Street and will ...
ABS tapped to sell Harlem development site.(ABS Partners Real Estate LLC)(Brief article)
Nov 01, 2006 ... Earle Altman, Steven Hornstock and Randy Modell of ABS Partners Real Estate, LLC have been appointed as the exclusive agents to sell 108-110 East 125th Street, which goes through the block to 101-109 East 124th Street and "L's" around to 1801-1803 Park Avenue. The site is ...
Energy firm identifies millions in untapped energy savings.(PROPERTY MANAGEMENT)
Nov 01, 2006 ... ConsumerPowerline, a strategic energy asset management firm, says that it has identified millions of dollars in untapped energy savings for consumers in New York and around the country. Additionally, the company announced that it has launched a free, online tool to empower ...
Classic Security recently offered security officers a complimentary four-week Tae-Kwon-Do training course.(PROPERTY MANAGEMENT)
Nov 01, 2006 ... [ILLUSTRATION OMITTED] Caption: Classic Security recently offered security officers a complimentary four-week Tae-Kwon-Do training course. The classes, held at Premier Martial Arts studio, were designed to help officers develop superior skills in self-defense and offender ...
Firm announces two new security contracts.(PROPERTY MANAGEMENT)
Nov 01, 2006 ... Peace of Mind Technologies, LLC, a Manhattan-based security technology firm, this week announced tow new contracts. The firm has been hired by Zara Realty to upgrade security systems at five of the firm's multi-family properties located in the Jamaica and Hollis sections of ...
Crash highlights need for modern alarm and communication systems.(PROPERTY MANAGEMENT)
Nov 01, 2006 ... Last month's plane crash into a high-rise residential building on Manhattan's Upper East Side illustrates the vital importance of having proper residential alarm and communications systems in place before another tragedy happens, notes Lucien Bohbot, president of Unitone, a leading New ...
Carlton tapped for $431m Trump SoHo assignment.(FINANCE)
Nov 01, 2006 ... Carlton Advisory Services this week confirmed that Carlton's Hospitality Group has been exclusively retained to arrange approximately $310 million of senior construction debt and $62 million of mezzanine / preferred equity financing for the construction of a five-star, luxury hotel ...
Canyon loan.(FINANCE)
Nov 01, 2006 ... Larry Sneathern, SVP/ Eastern Region of ARCS Commercial Mortgage Co., announced the closing of $40,000,000 in financing for the Canyons Apartments, a 673-unit property in Forth Worth, TX. The loan was originated by ARCS' Dallas Office. The loan was for a 10 year term/30 year ...
Meridian.(FINANCE)(Brief article)
Nov 01, 2006 ... Meridian announced the following: * A new mortgage for $24,900,000 on a 79-unit, 7-story elevator apartment building on West 81st Street in New York. The loan featured a rate of 5.86% and a 10-year fixed term. The transaction was negotiated by Avi Weinstock. * A new ...
Eastern Union.( )(Brief article)
Nov 01, 2006 ... Eastern Union announced the following transactions: * A $2,250,000 first lien mortgage for the acquisition/rehab of a mixed use building in New York, NY. This transaction was arranged by Levi Farkas and Shaya Ackerman. The loan featured a 15 month term, with interest ...
Wells going the extra mile to help employees.(FINANCE)
Nov 01, 2006 ... Wells Real Estate Funds, Inc., a national real estate investment company based in metro Atlanta, has been named one of the 2006 winners of The Principal[R] 10 Best Companies for Employee Financial Security. An independent judging panel of business leaders and employee benefits ...
Met inks Blackstone loan.(MetLife Real Estate Investments)(BlackRock Realty Advisors Inc)(Brief article)
Nov 01, 2006 ... MetLife Real Estate Investments has placed a $60.0 million, fixed rate mortgage on 1015 15th Street N.W. in Washington, D.C. The borrower is a BlackRock Realty Advisors, Inc. client. The ...
$19m Home Depot deal.(FINANCE)
Nov 01, 2006 ... CBRE | Melody, the real estate banking arm of CB Richard Ellis, has arranged permanent financing in the amount of $19.5 million for a Home Depot Retail Store. The Property, to be developed by the tenant, encompasses an approximate 25-acre tract directly across the Duncan Canal ...
Sonnenblick Goldman completes $50m construction loan.(FINANCE)
Nov 01, 2006 ... Sonnenblick Goldman, acting as a financial advisor to Workstage CT, LLC, has successfully completed a $50.75 million construction loan for the development of a 300,000 s/f office building in Wallingford, Conn. The construction financing was provided by Key Bank. Sonnenblick ...
Borrowers get best of both worlds.(FINANCE)
Nov 01, 2006 ... M. Robert Goldman & Company, Inc. has arranged financing totaling $51.25 million in four transactions through its correspondent relationship with Nationwide Life Insurance Company of Columbus, Ohio. The loans were originated on behalf of Nationwide's Capital Markets program ...