Real Estate Weekly back issues from March 2007:
The Real Estate Board of New York's Members Luncheon was held in the Hilton Hotel on February 27.
Mar 07, 2007 ... [ILLUSTRATION OMITTED] Caption: The Real Estate Board of New York's Members Luncheon was held in the Hilton Hotel on February 27. Guest speakers debated on the topic "Transactions in the market; Market forces and conditions." Pictured I-r: Josh N. Kuriloff, executive vice ...
Lehman having second thoughts?
Mar 07, 2007; ... Lehman Brothers may not be as interested in a new Manhattan office tower as recent speculation has suggested. The firm is currently negotiating a massive 400,000 s/f lease at 1271 Avenue of the Americas, where the building's landlord, the Rockefeller Group, just tacked an ...
ESDC moves to buy Farley Post Office.
Mar 07, 2007; ... The Empire State Development Corporation moved to acquire the Farley Post Office last week and could seek state approvals necessary for the $230 million purchase as early as this month. The building's acquisition is integral to a sweeping plan that envisions an overhaul of the ...
Downtown rail link tunnel plan nixed?
Mar 07, 2007; ... Downtown's business interests have never liked the way that Lower Manhattan has always had to play second fiddle to Midtown's dense transportation infrastructure. It's one of the main reasons why many real estate experts say the area's office market has always lagged behind, a ...
Alliance Building Services recently hosted a party at Manhattan hot spot, Latin Quarter Nightclub, to celebrate the company's record-setting growth in 2006.
Mar 07, 2007 ... [ILLUSTRATION OMITTED] Caption: Alliance Building Services recently hosted a party at Manhattan hot spot, Latin Quarter Nightclub, to celebrate the company's record-setting growth in 2006. Baseball greats, Mookie Wilson and Jim Leyritz, attended the event, along with clients and ...
Starrett City sale shelved by HUD.
Mar 07, 2007; ... U.S. Housing and Urban Development (HUD) secretary, Alphonso Jackson, has denied Clipper Equity, led by David Bistricer and Sam Levinson, the right to close the $1.3 billion deal to buy Starrett City. Stating that the buyer has not provided sufficient information to illustrate ...
Related buys 10th Avenue trophy.(Somerset Partners)(mergers and acquisitions)
Mar 07, 2007 ... Somerset Partners announced that it has signed a definitive agreement to sell one of its trophy office properties, 85 Tenth Avenue, to Related, the New York City real estate development company headed by CEO Stephen M. Ross, for approximately $430 million. The company expects the ...
City beats the drum for TRIA.
Mar 07, 2007; ... Government officials, leading New York developers and the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises met in City Hall on Monday in the first New York hearing to discuss extending the Terrorism Risk Insurance Act (TRIA) if not ...
Loeb & Loeb LLP.(WHO'S NEWS)
Mar 07, 2007 ... Loeb & Loeb LLP announced that Raymond A. Sanseverino, current chair of the firm's national commercial real estate leasing practice, will also assume the role of chair of the firm's New York Real Estate Department. As chair of the New York Real Estate Department, Sanseverino ...
CB Richard Ellis has promoted ten brokerage, consulting, retail and agency group professionals.(WHO'S NEWS)
Mar 07, 2007 ... CB Richard Ellis has promoted ten brokerage, consulting, retail and agency group professionals. The following individuals were promoted to vice president: Doug Dolgoff. In his six years with CBRE, Dolgoff has worked with companies across a broad range of industries, primarily ...
Scott Miller has joined CB Richard Ellis as vice president of the firm's market-leading Long Island operations.(WHO'S NEWS)
Mar 07, 2007 ... Scott Miller has joined CB Richard Ellis as vice president of the firm's market-leading Long Island operations. Miller will work closely with Bruce Nelson, vice president investment properties, in overseeing the firm's private client group initiative on Long Island. ...
Cushman & Wakefield announced the promotion of Phil D'Avanzo to the position of director.(Brief article)
Mar 07, 2007 ... Cushman & Wakefield announced the promotion of Phil D'Avanzo to the position of director. He is based in the firm's Long Island office, located in Melville, N.Y. D'Avanzo joined Cushman & Wakefield in 2002 as a commercial leasing and sales broker. He has represented a ...
Stroock & Stroock & Lavan LLP.(appointment of Glenn Borin )(Brief article)
Mar 07, 2007 ... Stroock & Stroock & Lavan LLP announced that Glenn Borin has joined the firm as co-manager of the firm's Tax Certiorari Practice. Additionally, the firm has elevated Joseph B. Giminaro to co-manager of its newly expanded practice, which now includes nine attorneys and four ...
Union State Bank.(WHO'S NEWS)
Mar 07, 2007 ... Union State Bank announced the promotion of Tamara A. Napolitano, marketing product analyst II, to assistant treasurer. Napolitano joined Union State Bank in 2001 as an intern in the marketing department. Since then she has served as marketing/public relations coordinator and ...
Massey Knakal.(Massey Knakal Realty Services Inc.)(Brief article)
Mar 07, 2007 ... Massey Knakal announced the foiling sales: * A vacant Polish national church at 155-161 15th Street in the Park Slope section of Brooklyn for $3,850,000. The property is located on the north side of 15th Street between 4th and 5th Avenues. * A development site at 2000 ...
Besen & Associates.(Sales)
Mar 07, 2007 ... Besen & Associates announced the sale of 114-02-04 Sutphin Blvd, Jamaica, Queens, AKA 149-10 Linden Blvd. The site is a 1-story retail comer ...
Kalmon Dolgin.(Sales)
Mar 07, 2007 ... Kalmon Dolgin Affiliates has arranged the sale of two adjacent warehouses located at 42-31 Crescent Street and 42-34 27th Street in the Long Island City section of Queens, ...
Eric S. Goldschmidt, senior partner at Scarsdale, NY, based Goldschmidt & Associates.(Agents)
Mar 07, 2007 ... Eric S. Goldschmidt, senior partner at Scarsdale, NY, based Goldschmidt & Associates announces that his company has been recently named exclusive agents for the following properties: * 2 Madison Avenue, Larchmont, NY, 1,500--15,000 s/f office space @ $22 psf. Laurence London is ...
Husband and wife team moves to build a legacy.(PROFILE OF THE WEEK)
Mar 07, 2007; ... When Jeffrey Sodine told his mother he was leaving school to work as a moving man, she predicted he was headed down a fast track to nowhere. Twenty-five years on, Sodine is the owner of Eagle Transfer Corporation, one of the most successful commercial moving and storage firms ...
SL Green ponders its options for Grand Central portfolio.
Mar 07, 2007 ... SL Green Realty Corp. announced that it has entered into an agreement to acquire 331 Madison Avenue and 48 East 43rd Street for a total of $73 million from a group of private investors. Both 331 Madison Avenue and 48 East 43rd Street are located adjacent to 317 Madison Avenue, a 450,000 ...
Brack plans hotel at midtown site.
Mar 07, 2007 ... Brack Capital Real Estate--USA has acquired 63-67 West 35th Street for $31 million from Icon Parking, it was announced by Moshe Azogui, CEO of Brack USA. Azogui said he plans to develop an upscale hotel with 300 rooms in the heart of bustling midtown south. The site, ...
High Line development site hits market with $52M price.
Mar 07, 2007 ... A prime block-thru development site at 511 West 21st Street between Tenth and Eleventh Avenues is on the market through Eastern Consolidated. Adjacent to the High Line between 21st and 22nd Streets, this is the premier development site in the famed West Chelsea gallery district, ...
Condo opportunity on the Gold Coast.
Mar 07, 2007 ... Marcus & Millichap Real Estate Investment Brokerage Company has the exclusive listing for 1300 Manhattan Ave., a 4.88-acre, 55-unit condominium development opportunity on the Gold Coast of New Jersey in Union City. David E. Thurston, a senior associate in the New Jersey office ...
Investors buy and hold plan for site.(Brief article)
Mar 07, 2007 ... Marcus & Millichap Real Estate Investment Brokerage Company announced the sale of a 1.69-acre development site on 21st Street in Long Island City, NY for $13.6 million. Glen Kunofsky and Mark Gjonbalaj of Marcus & Millichap's Manhattan Office represented the seller, Pep Boys ....
LIC hotel plan.
Mar 07, 2007 ... A 5,000 s/f former limousine dispatch center building located at 38-30 Crescent Street in Long Island City, has been sold to make way for a 25,000s/f boutique hotel. This $2.6 million ...
Around town: events seminars meetings talks.(Calendar)
Mar 07, 2007 ... UJA-REX Luncheon Mar. 7: UJA-Federation of New York's Real Estate and Allied Trades Division's Young Real Estate Executives (REX) will honor Howard M. Glatzer of The City Investment Fund, at its annual luncheon at The Waldorf-Astoria, Park Avenue & 50th Street, at 11:30 a.m .....
Radio network tuned in to Tishman tower.
Mar 07, 2007 ... CB Richard Ellis announced this week that it has arranged a 45,000 s/f renewal at 1270 Avenue of the Americas on behalf of Premiere Radio Networks, Inc. CBRE's Clyde Reetz, a senior vice president in the firm's Midtown office, represented Premiere in the transaction, while law ...
Moinian announces 30,000 s/f in deals.
Mar 07, 2007 ... The Moinian Group, which owns and manages more than 20 million square feet of office, residential, retail and hotel properties throughout the U.S. and abroad, announced 27,858 s/f in new leasing activity throughout the firm's Manhattan commercial portfolio. Imperial Parking, ...
CRESA moves tenant closer to employees.
Mar 07, 2007 ... CRESA Partners has negotiated an 11,569 s/f lease on behalf of SER Solutions, Inc., at Merritt 8 Corporate Park in Stratford, CT. The tenant has leased the second floor for three years. "SER Solutions, which provides contact center management and speech analytics solutions, is ...
Germans re-think triple-digit rents and sub-lease pricey digs.
Mar 07, 2007 ... CRESA Partners has negotiated a deal enabling E.ON North America, Inc., to sublease 10.612 s/f to Travelport, Ltd. at the Chrysler Building at 405 Lexington Avenue, said Jack Petrie, CRESA Partners senior vice president. E.ON North America is a subsidiary of a German-based ...
Sub-tenant grows into 13,000 s/f tenancy.
Mar 07, 2007 ... Colliers ABR, Inc. announced that Demos, a nonpartisan policy, research and advocacy organization focused on the improvement of democracy, citizenship and governance across America, has signed a 10-year lease for 13,300 s/fat 220 Fifth Avenue. Demos will occupy the entire 5th ...
City signs 15-year lease for Brooklyn terminal.
Mar 07, 2007 ... New York City Economic Development Corporation (EDC) president Robert C. Lieber announced that a lease with the Axis Group has been finalized paving the way for the development of a maritimedependant auto processing and general cargo facility at the South Brooklyn Marine Terminal (SBMT) in ...
CBRE tapped to lease LCOR's new-look 545 Madison retail.(CB Richard Ellis)(contracts)(Brief article)
Mar 07, 2007 ... LCOR has selected CB Richard Ellis as the broker for 7,080 s/f of retail space at 545 Madison Avenue. Located in the prestigious Plaza District, 545 Madison Avenue is being stripped to its steel and concrete frame and a new building will be constructed on the site. Building ...
Mexican favorite takes Green space.
Mar 07, 2007 ... SL Green Realty Corp. announced that it has completed a new 15-year lease with Chipotle Mexican Grill covering 5,478 s/f at 470 Park Ave South. Chipotle Mexican Grill is a wildly popular quick service restaurant offering high-quality raw ingredients served in a distinctive ...
Luxury caterer takes up residence at Atelier.
Mar 07, 2007 ... The Moinian Group has completed a transaction with Capitale's Seth Greenberg who signed a 10-year lease for 15,000 s/f of retail space on the street level of Atelier, a 46-story condominium tower located between 10th and 11th avenues. At Atelier, Seth Greenberg will establish a ...
Pictured at the grand opening of Long Island City's newest Class-A office tower.
Mar 07, 2007 ... Caption: pictured at the grand opening of Long Island City's newest Class-A office tower. Court Square Place, in Queens, N.Y., are (l-r): Greg Smith, executive vice president of JRT Realty Group, who is spearheading the leasing and mnagement team; Jodi Pulice, founder and ...
Westchester specialists join retail network.(Retail Brokers Network)(Brief article)
Mar 07, 2007 ... Aries Deitch & Endelson, the Westchester County, NY based firm, specializing in the leasing, management and sale of retail real estate, announced that it has become a partner in the Retail Brokers Network, a network of 41 brokerage agencies with approximately 250 brokers that specialize in ...
Grubb & Ellis Company (NYSE: GBE).(New York)(Brief article)
Mar 07, 2007 ... Grubb & Ellis Company (NYSE: GBE) announced the following leases: * The leasing of 7,674s/f of office space at 25 Hanover Road, Florham Park to Defined Healthcare Research, Inc. by 25 Hanover Road, LLC. Bob Lee represented the ...
Besen Retail.(New York)(Brief article)
Mar 07, 2007 ... Besen Retail announced the following leases: * A 1400s/f lease at 432 2nd Avenue in Manhattan for Papa John's Pizza. Besen Retail represented the tenant in this ...
ABS Partners Real Estate, LLC.(New York)
Mar 07, 2007 ... ABS Partners Real Estate, LLC announced the following leases: * A 3,700s/f lease on the third floor at 184 Fifth Avenue with Metropolitan Property Group, a Real Estate Brokerage Services Company. John Gols and Ben Waller represented both the tenant and the landlord. * ...
Mitsubishi Chemical American has chosen to remain at its current location at Gateway, a Class A office property located at 1 North Lexington Avenue in downtown, White Plains.(New York)
Mar 07, 2007 ... Mitsubishi Chemical American has chosen to remain at its current location at Gateway, a Class A office property located at 1 North Lexington Avenue in downtown, White Plains. The company has signed a new 5-year lease for 5,418s/f ....
Mack-Cali Realty Corporation.(New York)
Mar 07, 2007 ... Mack-Cali Realty Corporation announced four lease agreements in Westchester: * Singer Holding Corporation, a home heating oil supplier, renewed its lease of 15,000 s/f at 500 Executive Boulevard in Elmsford. Ivan Abry, inhouse senior director of leasing, represented MackCali. ...
Manhattan Commercial Realty announced a 10-year lease at 42 Broadway.(New York)
Mar 07, 2007 ... Manhattan Commercial Realty announced a 10-year lease at 42 Broadway. Oshman & Mirosola LLP leased an 8,000 s/f office space. Robert Bielsky, principal of ...
Onyx Equities, LLC.(New Jersey)
Mar 07, 2007 ... Onyx Equities, LLC announced the following leases at its Rockaway 80 Corporate Center: * Warner Chilcott (US), Inc. has expanded its space to 57,720s/f and extended its lease. Jack Fatigati and Jim Garibaldi of The Garibaldi Group represented the tenant in the transaction. ...
GVA Williams New Jersey completed a 9,187 s/ f headquarters lease on behalf of RAI Credit, LLC, a specialty finance company, at 21 Main Street in Hackensack, New Jersey.(New Jersey)(Brief article)
Mar 07, 2007 ... GVA Williams New Jersey completed a 9,187 s/ f headquarters lease on behalf of RAI Credit, LLC, a specialty finance company, at 21 Main Street in Hackensack, New Jersey. GVA ...
Key Properties LLC, owners of 120 Commerce Road, Carlstadt, has leased 25,440 s/f to Stall & Dean Manufacturing Co., announced Mare Schlussel, partner of Key Properties.(New Jersey)
Mar 07, 2007 ... Key Properties LLC, owners of 120 Commerce Road, Carlstadt, has leased 25,440 s/f to Stall & Dean Manufacturing Co., announced Mare Schlussel, partner of Key Properties. Stall & ...
W&M Properties.(CONNECTICUT)
Mar 07, 2007 ... W&M Properties announced the lease renewal of Spherion Corporation at First Stamford Place for another five years. Spherion has been a tenant at 100 First Stamford Place since 2001, occupying 3,440 square feet on the first floor. Jeffrey H ....
1.5M s/f CT campus attracting lots of buyer attention.(contracts )(Brief article)
Mar 07, 2007 ... Bayer HealthCare, one of the leading international health care companies, recently named CB Richard Ellis the exclusive sales agent for its West Haven location, a diverse mixed-use property located at 400 Morgan Lane in West Haven, CT. CBRE's Sean Cahill, Timothy S. Fegan, ...
C&W to lease Greenwich building.
Mar 07, 2007 ... Hines and Cushman & Wakefield announced the appointment of Cushman & Wakefield as exclusive leasing agent for 33 Benedict Place, a 126,810 s/f Class-A office building located in Greenwich, Conn. The property is owned by a partnership of Hines, The Willett Companies and Warren ...
Andalex sells its Albany trophy.
Mar 07, 2007 ... Andalex Group COO Alexander Silverman announced the sale of 90 State Street in the State Capitol's downtown office district. The office building was sold to 90 State Street, LLC, an owner/developer active in the Albany area. Originally purchased by the Andalex Group in 2002 the ...
RexCorp signs 20,000 s/f platinum mile tenant.(Company overview)
Mar 07, 2007 ... RexCorp Realty LLC has announced that Henry Schein, Inc., the largest distributor of healthcare products in both the US and Europe, has signed a long-term, 20,427 s/f lease at the Company's trophy Westchester office park. The Platinum Mile portfolio, recently acquired by ...
GVA Williams expands reach into New England market.(GVA Thompson Doyle Hennessey & Stevens )
Mar 07, 2007 ... GVA Thompson Doyle Hennessey & Stevens of Boston will merge into GVA Williams, a leading New York City commercial real estate firm. GVA Williams' expanded reach will now extend from New Jersey through the New England states. Adopting the GVA Williams' name, GVA ...
CBRE buys leading Italian retail brokerage.(CB Richard Ellis Group mergers with EDConsulting)(Brief article)
Mar 07, 2007 ... CB Richard Ellis Group, Inc. announced the acquisition of EDConsulting, a leading commercial real estate services company in Italy specializing in retail properties. The acquisition of EDConsulting is another integral step in CB Richard Ellis' strategy to build the premier ...
Carey buys CO pharma-plant.(NATIONAL ROUND-UP)
Mar 07, 2007 ... COLLINS, CO: W. P. Carey & Co. LLC has completed the acquisition of a 65,000 s/f pharmaceutical manufacturing facility in Fort Collins, Colorado. The $13.6 million purchase was made on behalf of W. P. Carey's affiliated fund, Corporate Property Associates 16--Global Incorporated ...
Fish plant closes sale-leaseback.(NATIONAL ROUND-UP)
Mar 07, 2007 ... GLOUCESTER, MA: Angelo, Gordon & Co. announced that AG Net Lease Realty Fund, L.P. completed a sale-leaseback transaction with Good Harbor Fillet Company LLC, a leading manufacturer of value-added frozen fish products. This deal marked the first transaction for AG Net Lease. The ...
Swig partners with Mitsui Fudosan to add 300,000 s/f tower to San Francisco portfolio.(NATIONAL ROUND-UP)
Mar 07, 2007 ... SAN FRANCISCO, CA: The Swig Company and Mitsui Fudosan America, Inc. announced the purchase of 180 Montgomery Street, a 300,000 s/f Class A office building in the heart of San Francisco's financial district. The seller was a locally based partnership led by TMG Partners, which ...
ING's $90m solash in medical office market.(NATIONAL ROUND-UP)
Mar 07, 2007 ... NEW YORK, NY: ING Clarion Partners, a leading real estate investment advisory firm, has entered into a major new joint venture program with Montecito Medical Investment Company to acquire medical office properties across the country, it was announced today. In addition, the ...
JV makes Baltimore multi-family deal.(NATIONAL ROUND-UP)
Mar 07, 2007 ... BALTIMORE, MD: Star/Hirsch Portfolio, L.L.C., a joint venture of Hirschfeld Properties LLC of West Hartford, Connecticut, and Starwood Capital Group Global, L.L.C. of Greenwich, Connecticut, has acquired 3,192 multi-family rental apartments in five properties in suburban Baltimore, ...
Panelists address facts and myths of forming strategic alliances.(Discussion)
Mar 07, 2007 ... Embedding diversity into daily operations has become commonplace at today's Fortune 500 companies, where corporate managers continually strive to seek the widest source of suppliers that reflect their employee and consumer population. As a result, certified minority- and ...
Onyx purchases Sealfon's Building.(Onyx Equities LLC)(Brief article)
Mar 07, 2007 ... Onyx Equities, LLC has acquired 257 East Ridgewood Avenue, the 42,000 s/f office/retail building known as the Sealfon's Building in downtown Ridgewood, N.J. The seller was Magnolia Partners, LLC. Said Jonathan Davis, Onyx Equities' vice president of investments, "This ...
Buyers plan to upgrade portfolio.
Mar 07, 2007 ... GVA Williams New Jersey represented LWS II Real Estate LEa partnership between Lincoln Property Company and Goldman Sachs Whitehall Fund, in the sale of a 207,671 s/f office portfolio consisting of 199 Pomeroy Road and 959 Route 46 East in Parsippany. GVA Williams senior vice ...
130,000 s/f processing facility opens.(Global Document Solutions )(Brief article)
Mar 07, 2007 ... Global Document Solutions (GDS), a leading supplier of integrated business communications and document processing services, announced the opening of a 130,000 s/f state-of-the-art document processing facility in Carlstadt, New Jersey. The new space houses expansive creative, ...
Residential/retail portfolio sold for $52m.(Simon Gluck)
Mar 07, 2007 ... Gebroe-Hammer recently completed two major transactions totaling $52 million in southern New Jersey. The activity included a two-property package sale in Lindenwold and Haddonfield, and the sale of a residential complex with high-end retail space in Lakewood. Joseph Brecher, ...
CBRE tapped to lease 210,000 s/f two-center Class A office complex.
Mar 07, 2007 ... CB Richard Ellis has been appointed the exclusive leasing agent for a 210,000 s/f Class A office portfolio on behalf of the owner, Herring Terramax Developers. The portfolio consists of Parsippany Place, a 135,000 s/f, five-story office building, and Crossroads Corporate Center, ...
Jeffrey Finn named new chief executive at NAI Global.(Brief article)
Mar 07, 2007 ... NAI Global announced the promotion of Jeffrey M. Finn to president & chief executive officer. Finn previously served as president & chief operating officer. Gerald C. Finn, the company's founder and prior CEO, continues to serve as chairman. Jeffrey Finn, 44, joined ...