Real Estate Weekly back issues from October 2007:
WPP advertises 11th Ave interest.
Oct 03, 2007; ... WPP is said to be looking at a massive lease at 636 11th Avenue, but unlike other large deals that, because of the buzz created by their size, are usually known in the market well in advance of when they actually get signed, mystery continues to surround just whether the media giant will ...
REBNY launches homebuying Web site.(Website overview)
Oct 03, 2007 ... The Real Estate Board of New York, Inc. (REBNY) launched ResidentialNYC.com, its official comprehensive Web site enabling homebuyers to link to thousands of exclusive home listings in New York City from thousands of REBNY residential member brokers. The site will provide access to condos, ...
AXA mulls over-the-river move.
Oct 03, 2007; ... AXA Equitable is planning to shed hundreds of thousands of square feet at its long time New York headquarters and potentially relocate a portion of its operations to New Jersey in the kind of cost saving real estate shuffle that some brokers say other tenants may be eager to imitate given ...
Durst reveals details on MTA rail yards bid.(Metropolitan Transportation Authority)(Douglas Durst)
Oct 03, 2007; ... During this week's busy conference schedule REW caught up with Douglas Durst, who gave a few interesting details about his planned bid to develop the MTA rail yards on the far West Side, for which proposals are due in just a few weeks. Durst revealed that he will respond with development ...
Taconic to buy 930,000 s/f Pearl St. space.
Oct 03, 2007 ... Taconic Investment Partners, together with its investment partner, Square Mile Capital, is purchasing a commercial condominium interest encompassing 930,000 s/f of space at the 32-story, 1,098,000-square foot office building, 375 Pearl Street, from Verizon. Taconic plans an ...
Market data shows industry unscathed by credit crisis.
Oct 03, 2007 ... The Manhattan office market was more active in the three month period from July to September than during the year's previous two quarters, a sign that the credit crisis and the problems in the economy have had a minimal impact so far on the demand for office space. According to ...
CBRE pilots JFK lease for North American.
Oct 03, 2007 ... CB Richard Ellis arranged a 51,500 s/f lease in Jamaica, Queens at Building 141 JFK International Airport for North American Airlines. The international charter and scheduled service airline, based in Jamaica, N.Y., will house its offices on the first and second floors of the ...
Five residential buildings swap hands for $40m.
Oct 03, 2007 ... NLC Realty LLC Associates announced the sale of a five-building package deal totaling $40 million. The buildings, located at 506-508 E. 88th Street, 447 E.. 78th Street, 449 E. 78th Street, 256 E. 10th Street and 226 E. 26th Street, sold to a longtime Manhattan investor at the cost of ...
Fortuna Realty Group.(Who's News)
Oct 03, 2007 ... Fortuna Realty Group has appointed Ben Haghani to the executive team in the role of director of acquisitions. The newly created position will include the identification and evaluation of acquisition and merger opportunities. Haghani will also lead and manage the entire ...
Besen & Associates.(Who's News)(appointment of Jeremiah Cole-Kelly)(Brief article)
Oct 03, 2007 ... Adelaide Polsinelli of The Platinum Team at Besen & Associates, announced that Jeremiah Cole-Kelly has been named investment sales associate. Formerly a retail leasing specialist, Cole-Kelly has closed deals in many neighborhoods ...
Newmark Knight Frank.(Who's News)(appointment of Jon Bourbeau )(Brief article)
Oct 03, 2007 ... Jon Bourbeau has joined the Miami office of Newmark Knight Frank as senior managing director. An accomplished professional with more than seven years of experience, Bourbeau has long been recognized as a leading tenant advisor in the south Florida market, negotiating more than three ...
CB Richard Ellis Inc.(Who's News)
Oct 03, 2007 ... CB Richard Ellis Inc. announced the addition of Kevin J. McCarthy to its Westchester/Fairfield office as senior associate. McCarthy will be based in the Stamford, Conn. office. In his role McCarthy will be partnering with CB Richard Ellis' Executive Vice President William V. Cuddy, Jr. ...
Cushman & Wakefield Retail Services.(Who's News)
Oct 03, 2007 ... Cushman & Wakefield Retail Services today announced that Robert Gibson, a top retail real estate professional, has joined the firm as an executive director. He was previously an executive vice president with CB Richard Ellis. Thomas Citron and Molly Beal, associates of Gibson, join him in ...
Normandy Real Estate Partners.(Who's News)
Oct 03, 2007 ... Normandy Real Estate Partners has announced the appointment of Thomas J. Walsh as principal. In this capacity, Walsh will be responsible for directing all of the company's development and construction activities. Currently, Normandy has approximately $175 million of major development and ...
Eastern Consolidated.(Who's News)
Oct 03, 2007 ... Ramping up to meet the continuing demand for development sites in Manhattan and the boroughs, Eastern Consolidated has hired two new sales associates and a marketing manager. Howard Katz, associate, focuses on the sales and acquisition of Manhattan commercial properties. Prior ...
The Kislak Company.(Who's News)
Oct 03, 2007 ... The Kislak Company has announced the appointment of Guy Barretta as sales associate. In this capacity, Barretta will specialize in the sale of investment properties in Rockland County, New York and parts of northern ...
Classic Security.(Who's News)
Oct 03, 2007 ... Classic Security, a division of Alliance Building Services announced that William Corso has been hired as its newest account executive. A veteran New York City Police Lieutenant, Corso brings with him a successful background in the areas of Security Management, Protective Services, ...
Gebroe-Hammer Associates recently completed a $5.1 million transaction involving the sale of three apartment houses in Irvington, N.J.(Sales)
Oct 03, 2007 ... Gebroe-Hammer Associates recently completed a $5.1 million transaction involving the sale of three apartment houses in Irvington, N.J. The three 4-story buildings, located at 380, 404 and 410 Union Avenue, have a total of 100 one- and ...
Itzhaki Properties.(Sales)(Brief article)
Oct 03, 2007 ... Erez Itzhaki, president of Itzhaki Properties announced two separate sales, both for properties on Creston Avenue in the Bronx: * 2542-46-50 Creston Avenue, three five-story walk-up residential buildings totaling 38,500 s/f and opposite St. James Park. The sale price for the ...
Massey Knakal.(Sales)(Massey Knakal Realty Services Inc. announced sale of apartment building )(Brief article)
Oct 03, 2007 ... Massey Knakal announced the following sales: * A landmarked, five-story apartment building at 415 West 22nd Street in Manhattan's Chelsea neighborhood was sold in an all-cash transaction valued at $2,425,000. The transaction occurred at a capitalization rate of 7.52% and a gross ...
Wiener holding court with strong real estate career.(PROFILE OF THE WEEK: Jeffrey Wiener, president, The Kislak Company)
Oct 03, 2007; ... When Jeffrey Wiener is referred to as an ace, it has a double meaning. He embarked on his career in real estate as a 'trainee' making a modest $150 week, supplementing his income with skills learned on the tennis court. He taught the sport to help earn a living in the risky ...
Around town: events seminars meetings talks.(Calendar)
Oct 03, 2007 ... NYU Sales Course Oct. 2 to Nov. 27: New York University Real Estate Institute is offering the 45-hour New York Real Estate Salesperson's course. This class is scheduled to meet on Tuesdays/Thursdays, October 2nd through November 27th, meeting from 1 to 4 p.m. It will be ...
Pair of Meatpacking properties sell for $70m.
Oct 03, 2007 ... In a single transaction, two properties in the Meatpacking District were sold for $70 million by Christopher West Realty LLC, with attorneys in the real estate practice of Thelen Reid Brown Raysman & Steiner LLP acting as legal advisor. The adjacent properties, 414 and 416-418 West 14th ...
Monday Properties bags 105,000 s/f Macy's lease.
Oct 03, 2007 ... Monday Properties has completed a lease renewal and extension with Macy's Inc. at 1440 Broadway. The department store signed for 105,000 s/f at the 745,000 s/f building. Craig Panzirer, senior vice president and director of leasing for Monday Properties, represented the ...
Moinian inks three leases totaling 50,000 s/f.
Oct 03, 2007 ... The Moinian Group, an owner of more than 20 million square feet of office, residential, retail and hotel properties throughout the U.S. and abroad, inked 50,153 s/f in new leases for Zaralo LLC, Ameriprise International Services and HDR. Daniel Gohari, vice president and director of ...
Hampshire acquires 30,000 s/f of medical space.
Oct 03, 2007 ... The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, has acquired two medical office buildings totaling 30,073 s/f located at 200 and 214 Engle Street in Englewood, N.J. The acquisition was made ...
Tribeca's Peace & Love Cafe seeks bigger piece of NYC market.
Oct 03, 2007; ... A Tribeca cafe that specializes in a high quality menu that won't break the bank has made strides to become a top lunch break choice in New York City. Peace & Love Cafe has signed exclusively with JDF Realty, Inc.'s Leah Rubin, broker associate, to roll out 14 new locations. ...
Statewide opening new office in Rockefeller Center.
Oct 03, 2007 ... Statewide Abstract Corporation, one of the largest and fastest growing title insurance agencies in New York State, announced the opening of a New York City office in Rockefeller Plaza Center. Statewide, a family-owned business that issues over 8,000 residential and commercial ...
Choyce closes on HQ for reinsurance firm.
Oct 03, 2007 ... Choyce Peterson, Inc, a tenants' commercial real estate brokerage firm with offices in Stamford, CT, and White Plains, N.Y., has negotiated a new, 11,000 s/f lease for D. W. Van Dyke and Company at Wilton Crossing, 195 Danbury Road in Wilton, Conn. D. W. Van Dyke will relocate ...
Fall conferences cover credit market crunch.(Conference news)
Oct 03, 2007; ... Summer has wound down and the busy fall conference schedule has begun to kick into high gear. Given what has happened in the debt markets in recent months, it's no surprise then that the discussions of panel after panel have predictably revolved around when a sense of normalcy will return ...
Schumer talks subprime at Appraisal Institute event.(Charles E. Schumer )(Conference news)
Oct 03, 2007; ... A keynote speaker at the Appraisal Institute's annual September conference, Senator Charles E. Schumer chalked up the subprime crisis to greedy mortgage brokers and gimmicks. And it's hurting everyday New Yorkers. "It's always the same thing: people think there's quick and easy ...
Fortune names CBRE 33rd fastest growing company.(CB Richard Ellis Group, Inc.)(Brief article)
Oct 03, 2007 ... CB Richard Ellis Group, Inc. has been named the 33rd fastest-growing company in the United States, according to a new ranking in FORTUNE magazine. FORTUNE identified the top 100 fastest-growing companies in 2007 based on a composite of three-year revenue, earnings per share growth and ...
Sevenberry a recipe for luxury living in Brooklyn.(RESIDENTIAL)
Oct 03, 2007 ... Start with one of New York City's hottest neighborhoods, add luxury amenities, natural lighting and mix in private outdoor space and--barn--you've got Sevenberry, an exciting new residential condominium in along the Brooklyn waterfront in Williamsburg, which officially opens on Sunday, ...
Rushmore residents given interior options.(RESIDENTIAL)
Oct 03, 2007 ... The Rushmore is Extell Development's newest luxury development on Riverside Boulevard. With forever unobstructed views of the Hudson River, residents will enjoy front-door access to Riverside Park South, a generous choice of exquisite finishes, and world-class amenities including indoor ...
EDC seeks developer for downtown Jamaica site.
Oct 03, 2007 ... New York City Economic Development Corporation (NYCEDC) issued a Request for Proposals for the sale and redevelopment of an approximately 45,000 s/f site in Downtown Jamaica, Queens. NYCEDC is seeking development consisting of retail space, market-rate and affordable housing and required ...
Swig donates FiDi retail space for Bernardini exhibit.(TRANSCRIPT)(Brief article)
Oct 03, 2007 ... Swig Equities donated retail space at 5 Hanover Square for Swing Space, a program of Lower Manhattan Cultural Council, to showcase Carlo Bernardini's "Event Horizon" exhibition. The space at 5 Hanover Square hosted the exhibition from Septt. 19 to Sept. 30. Working with a unique system of ...
Comfort & Sons honored.(TRANSCRIPT)(George Comfort & Sons)(Brief article)
Oct 03, 2007 ... George Comfort & Sons, one of New York metropolitan region's oldest, largest, and most reputable real estate firms, was recently awarded with a Silver Connecticut Quality Improvement Award CQIA Innovation Prize for their funding and support of a new music program at the Stamford Boys & ...
Meridian.(FINANCE)
Oct 03, 2007 ... Meridian announced the following transactions: * A new mortgage for $17,450,000 on a Walk-Up Complex containing 172 Units, on Lincoln Place in Brooklyn, N.Y. The property will benefit from a rate of 5.750%, with a 10-year term. Scott Assouline handled this transaction. ...
Deutsche Bank Berkshire Mortgage.(FINANCE)
Oct 03, 2007 ... Deutsche Bank Berkshire Mortgage provided a $6.4 million Federal Housing Administration-insured loan for the refinancing of Greenpoint Keepsake, in Salina, N.Y. DBBM utilized ...
Eastern Union.(FINANCE)(Brief article)
Oct 03, 2007 ... Eastern Union announced the following transactions: * An $8,240,000 first lien mortgage for the purchase of two office buildings in Cleveland, Oh. This transaction was arranged by Esther and Joe Fettman. The loan featured a rate of 6.3% l0 year term 28 year amortization. ...
JG Capital, LLC.(FINANCE)(Brief article)
Oct 03, 2007 ... JG Capital, LLC arranged the following: * A new mortgage for $10,000,000 on two 4-story elevator, mixed use buildings in Manhattan. The loan featured a 10 year term with the first five years being interest only at 6.14% and the final five years based on a 30-year amortization ....
Capmark Finance Inc.(FINANCE)(finance for Applewood MHC)(Brief article)
Oct 03, 2007 ... Capmark Finance Inc. funded $7.5 million in fixed-rate, permanent refinancing for Applewood MHC, a manufactured home community in Clinton, N.Y. The 80% LTV loan has a 30-year term with a ...
The Community Preservation Corporation.(FINANCE)
Oct 03, 2007 ... The Community Preservation Corporation announced it has provided a construction loan of nearly $3.6 million for the gut rehab of two 3-family and four 2-family houses in the Bedford Stuyvesant area of Brooklyn, N.Y. Financing ...
Inter Capital Resources.(FINANCE)(Brief article)
Oct 03, 2007 ... Inter Capital Resources announced the following transactions: * A mortgage for $545,000 on a 4,000 s/f brick commercial building in Brooklyn, N.Y. The financing was arranged by Shuie Feldberg and ...
Time Equities, Inc.(FINANCE)
Oct 03, 2007 ... Stuart Bruck of Time Equities, Inc announced the following mortgage placements totaling $134,850,000: * A $69,100,000 predevelopment loan secured by three buildings at 47-50 West Street and 80 Washington Street. The loan has an interest rate of LIBOR plus 1.5%. * A ...
Inter Capital Resources.(FINANCE)
Oct 03, 2007 ... Inter Capital Resources announced the following transactions: * A mortgage for $4,240,000 on two 4-story elevator brick buildings with 22 indoor garages and 101 units in West Haven, Conn. The financing was ...
NCB reports solid financing for month of August.(FINANCE)(Brief article)
Oct 03, 2007 ... NCB, the leading provider of financing to New York housing cooperatives, originated more than $39 million in financing in August for 24 New York area properties. The financings included $33 million in first and second mortgages and $6 million in lines of credit. "Solid financing ...
CPC secures $6M for affordable housing.(FINANCE)
Oct 03, 2007 ... The Community Preservation Corp. (CPC) has helped secure a $6.4 million mortgage for the construction of 27 identical attached homes in Lakewood, providing affordable housing for large families. The loan is the first made through CPC's Trenton office, which opened in March with ...
CBRE finances $23m for apartment complex.(FINANCE)
Oct 03, 2007 ... [ILLUSTRATION OMITTED] Keith Braddish, managing director, along with vice president Jason Gaccione, both of CBRE's Capital Markets group in New York, have secured fixed-rate, first mortgage financing totaling $23.3 million on behalf of Eliason, Inc. The 10-year loan ...
CBRE secures loan for First Avenue luxury condo.(FINANCE)(C.B. Richard Ellis)(Brief article)
Oct 03, 2007 ... Keith Braddish, managing director, along with vice president Jason Gaccione, both of CBRE's Capital Markets group in New York, have secured a $19.2 million loan on behalf of Bluerock Real Estate, LLC to facilitate the land acquisition and pre-development of a 51-foot by 100-foot land ...
Cambridge sees slight dip in processed requests.(FINANCE)(Cambridge Realty Capital Companies )
Oct 03, 2007 ... Cambridge Realty Capital Companies reports processing 30 loan origination requests totaling $414.4 million during the month of August, down marginally from 32 loans totaling $586.4 million for the same month last year. But year-to-date loan request volume remained ahead of last ...
AREW launches exclusive development program.(FINANCE)
Oct 03, 2007 ... The Association of Real Estate Women (AREW) is launching its Professional Resource Development (PRD) Program, which will pair seasoned professionals among the membership as mentors with those less experienced. The PRD Program is an exclusive benefit of AREW membership and ...
Mack-Cali ups its credit facility by $175m.(FINANCE)
Oct 03, 2007 ... Mack-Cali Realty Corporation announced that its operating partnership, Mack-Cali Realty, L.P., has increased its unsecured revolving credit facility by $175 million, to a total of $775 million. The credit facility, which was extended for two years earlier this year, matures in June 2011. ...
Monday Properties recapitalizes 1440 Broadway in JV.(FINANCE)(joint venture)(Brief article)
Oct 03, 2007 ... Monday Properties, a New York-based development, ownership and management company, announced it has entered into a joint venture with institutional investors in a fund managed by Prudential Real Estate Investors to recapitalize the 745,000 s/f 1440 Broadway. Monday Properties ...
CPC secures $6m loan for affordable housing.(FINANCE)
Oct 03, 2007 ... The Community Preservation Corp. (CPC) has helped secure a $6.4 million mortgage for the construction of 27 identical attached homes in Lakewood, providing affordable housing for large families. The loan is the first made through CPC's Trenton office, which opened in March with ...
Consolo: retail trends a mix of old and new.(RETAIL)
Oct 03, 2007; ... Summer may have come and gone but, according to the ever-so-candid Faith Hope Consolo, New York City's retail market is hotter than ever. Consolo, chair of the retail leasing and sales division at Prudential Douglas Elliman, addressed Institute of Real Estate Management members at its ...
Arizona-based juicemaker expands to Queens and Beyond.(RETAIL)(Sholom & Zuckerbrot LLC)(Brief article)
Oct 03, 2007 ... In a deal negotiated by Sholom & Zuckerbrot LLC, Beyond Juice is opening its first New York City location, at the Bay Terrace Shopping Center, in the Bayside section of Queens, announces Franklin S. Zuckerbrot, president of S&Z. The Arizona-based retail chain will occupy the ...
Winick representing new Williamsburg retail space.(RETAIL)
Oct 03, 2007 ... [ILLUSTRATION OMITTED] Winick Realty Group, the Manhattan-based retail store leasing firm has been appointed exclusive leasing agent for the retail portion of a new luxury residential and retail development on Myrtle Avenue, between Flatbush Avenue and Ashland Place in Brooklyn ....
CellularRE dials into online listing.(TECHNOLOGY)
Oct 03, 2007 ... CellularRE, a real estate cellular/text message technology company owned and operated by JTLB Media, announced recently that they have entered into a marketing agreement with Illinois-based Online-Listing. com, a free worldwide online advertising firm. CellularRE.com and ...
Spinwave unveils wireless pulse counter for remote metering applications.(TECHNOLOGY)(Spinwave Systems)(Spinwave Systems)
Oct 03, 2007 ... Spinwave Systems, a provider of wireless mesh sensor networks for the building automation market, introduced a wireless pulse counter for remote metering applications. "Spinwave's wireless pulse counter is an attractive metering solution for building owners, energy managers and ...
On the web.(TECHNOLOGY)(Table)
Oct 03, 2007 ... <Pre> ON THE WEB: A & I Broadway Realty www.BroadwayRealty.com Academy for Continuing Education: www.RealEstateAcademy.com Adams & Company Real Estate:www.adamsre.com Alpine Commercial Capital: www.alpinecommercial.com ...
Home values remain strong thanks to 1031 exchange.(INSIDERS OUTLOOK)
Oct 03, 2007; ... Despite the current lending environment, Massey Knakal has witnessed prices for small to mid-sized investment properties hold in Manhattan. Two recent listings that we placed under contract and a recent sale in September suggest that 1031 buyers have helped keep values afloat. ...
Landlord responsibilities can overlap with broker's.(INSIDERS OUTLOOK)
Oct 03, 2007; ... In an ever-changing commercial real estate market, landlords play an important role in the future and prosperity of their tenants. The responsibilities of a landlord often overlap that of a broker to create an unofficial partnership between landlord and tenant, which contributes to the ...
Kaufman broadcasts BBC lease.(INSIDERS OUTLOOK)
Oct 03, 2007 ... The Kaufman Organization brokered a five-year lease for the British Broadcasting System (BBC), who's mission is to "enrich peoples lives with programs and services that inform, educate and entertain." According to Daniel Lipton and Peter Pacific of the Kaufman Organization, who represented ...
CBRE snags exclusive at Skyview.(NEW JERSEY)(CB Richard Ellis)(Brief article)
Oct 03, 2007 ... CB Richard Ellis (CBRE) has been named exclusive leasing agent for the 21,000 s/f retail component of Skyview at Carriage City Plaza, a new mixed-use development located at 77 East Milton Ave., in Rahway. The CB Richard Ellis team of Vice President Robert Molloy and Associate ...