Real Estate Weekly back issues from November 2007:
Bonds cashes in for Israel.(government finance for real estate development)(Brief article)
Nov 07, 2007; ... [ILLUSTRATION OMITTED] The real estate community plunked down oodles of cash last week in support of Israel. According to a spokesman for the State of Israel Bonds, a luncheon held by the organization at the Pierre Hotel in midtown for the Manhattan real estate community raised ...
NJ Transit's move may be MSG victory.(renovation of railway stations)
Nov 07, 2007; ... Part of the state's plan for the renovation of Penn Station and development of Moynihan Station, which was outlined a few weeks ago in a scoping document, includes installing New Jersey Transit in Moynihan Station according to a spokesman at the Empire State Development Corporation, the ...
Borough hotels a risky business.
Nov 07, 2007; ... Hotel development is blanketing not only Manhattan, where 72 new hotels are in the works, but the City's boroughs; 10 projects are planned for Brooklyn alone. But those in the know believe these secondary and tertiary markets could be less than hospitable for developers. The borough hotel ...
Silverstein eyeing Macklowe portfolio?
Nov 07, 2007; ... There has been a lingering rumor in the market that Larry Silverstein is in the process of buying 825 Eighth Avenue from the beleaguered Manhattan landlord Harry Macklowe, who has to soon pay off billions of dollars of short term debt taken to finance that building and a number of others ...
Merrill Lynch disputes allegetions of chicanery.(Merrill Lynch & Company Inc.)
Nov 07, 2007; ... Merrill Lynch has been under the media's microscope in recent weeks over the $7.9 billion write down it suffered in the third quarter after revaluing its positions in collateralized debt obligations, which have decreased in value because some of these opaque pools of various types of ...
Staph shows importance of building cleanliness.
Nov 07, 2007; ... Now that Staph infection untimely took the life of a 12-year-old Brooklyn boy last month, property managers are learning that there are no cutting comers when it comes to a building's cleanliness. Staphylococcus aureus is found in roughly 25% of healthy people, in their noses or ...
Bayrock Group LLC.(Who's News)
Nov 07, 2007 ... Brian L. Halberg has joined Bayrock Group LLC as senior vice president and assistant general counsel. Halberg joins Bayrock Group from Kramer Levin Naftalis & Frankel LLP, where he represented clients in all aspects of transactional real estate, including acquisitions, dispositions and ...
Beers & Cutler.(Who's News)
Nov 07, 2007 ... Beers & Cutler announced that Dan Head will join the firm as a partner. He will work closely with the consulting group's leadership to direct its overall strategy and lead the growth of new service offerings focused primarily on large corporate clients. Most recently, Head served as senior ...
Statewide Abstract Corp.(Who's News)(appointment of John D. Sullivan )(Brief article)
Nov 07, 2007 ... John D. Sullivan has been named vice president national commercial manager at Statewide Abstract Corp. Sullivan, with over 25 years of experience in the title insurance industry, will also head up Statewide Abstract's newly opened orifice in Rockefeller Center in New York City. Most ...
Cushman & Wakefield's New York Capital Markets Group.(Who's News)
Nov 07, 2007 ... John Polevoy has been promoted to associate director in Cushman & Wakefield's New York Capital Markets Group. Polevoy has participated in the sale of over $4 billion in commercial real estate transactions, including the disposition of 200 ...
CresaPartners.(Who's News)
Nov 07, 2007 ... CresaPartners has appointed Justin Halpern an associate in its New York office. Halpern was a sales associate at Aetna Inc., where he worked on the Key Accounts sales team, specializing in new business development. During college, he interned ...
Advance Realty Group.(Who's News)
Nov 07, 2007 ... Advance Realty Group announced the promotion of Kurt R. Padavano, RPA, CPM[R], FMA, SMA, to chief operating officer of the company. A 13-year veteran of Advance Realty Group, Padavano will oversee all company operations in his new role. Prior to this promotion, Padavano was COO of the ...
SL Green Realty Corp.(Who's News)
Nov 07, 2007 ... SL Green Realty Corp. announced that is has hired Lawrence J. Thomson as senior vice president, director of operations. In this newly created role, Thomson will assume responsibility for SL Green's 25 million square foot New York City office portfolio and assist with leasing activity for ...
Forest City Enterprises, Inc.(Who's News)
Nov 07, 2007 ... Forest City Enterprises, Inc. announced that Robert G. O'Brien will assume overall leadership of financial activities on February 1, 2008, the beginning of the Company's fiscal year, and will become executive vice president, chief financial officer. Since 2000, O'Brien has served as ...
Swig Equities, LLC.(Who's News)(appointment of Philip Jones)(Brief article)
Nov 07, 2007 ... Swig Equities, LLC announced that Philip Jones has been promoted to executive vice president. He manages the professional services of architectural, engineering and special design firms, and works with City regulatory agencies to obtain approvals and ensure compliance with zoning, building ...
Jones Lang LaSalle.(Who's News)(appointment of William Cariste )(Brief article)
Nov 07, 2007 ... Jones Lang LaSalle announced the appointment of William Cariste as senior vice president of the Development and Asset Services Group. In this capacity, Cariste will be leading the Mid-Atlantic region of DAS, which is a national Jones Lang LaSalle practice. Cariste will also be actively ...
Grubb & Ellis Company.(Who's News)
Nov 07, 2007 ... Grubb & Ellis Company announced that Alan Weisman has been promoted to executive managing director. Weisman has been involved in more than seven million square feet of transactions over his 35-year career in the New York commercial real estate market. He currently focuses on serving the ...
Schulte Roth & Zabel LLP.(Who's News)
Nov 07, 2007 ... Schulte Roth & Zabel LLP announced that industry veteran Angela D. Works has joined the firm's New York office as special counsel in the real estate group. Works' real estate practice ranges from acquisitions and dispositions, development deals and leasing ...
Moses & Singer LLP.(Who's News)
Nov 07, 2007 ... Alan E. Linder has joined Moses & Singer LLP as a partner in its real estate practice. More than 25 years ago, Linder began his career as a commercial real estate transactional attorney at a single-office New York City firm. Linder has now come full circle from DLA Piper to Moses & Singer ....
Anglo Irish Bank.(Who's News)
Nov 07, 2007 ... Anglo Irish Bank announced the appointment of Katherine Rowley, CCIM, to vice president, Inward Investment. In this position, Rowley will source commercial property acquisitions in the United States on behalf of the Bank's private banking clients in Ireland and the United Kingdom. Prior to ...
Heitman LLC.(Who's News)(appointment of Christina Polito )(Brief article)
Nov 07, 2007 ... Heitman LLC announced the appointment of Christina Polito as senior vice president in the firm's Client Service and Marketing group. In this role, Polito has responsibility for distributing all of Heitman's public securities, private equity and debt products to investors across the western ...
HK Commercial Realty Advisors.(Sales)
Nov 07, 2007 ... HK Commercial Realty Advisors negotiated two separate sales with a combined value of approximately $5 million. The company simultaneously assisted CNC Enterprises with the sale of 17 acres of ...
The Goldstein Group arranged the sale of a former McDonald's in North Plainfield, N.J. and the former Community Plumbing Supply in Springfield, N.J. Curtis Nassau, Florian Suserman and Steven Zavidow represented both the buyer and seller, McDonald's Corporation, in the transaction.(Sales)
Nov 07, 2007 ... The Goldstein Group arranged the sale of a former McDonald's in North Plainfield, N.J. and the former Community Plumbing Supply in Springfield, N.J. Curtis Nassau, Florian Suserman and Steven Zavidow ...
A four-story plus basement parking garage at 161 West 132nd Street in Central Harlem was sold by Massey Knakal Realty Services in an all-cash transaction valued at $5 million.(Sales)
Nov 07, 2007 ... A four-story plus basement parking garage at 161 West 132nd Street in Central Harlem was sold by Massey Knakal Realty Services in an all-cash transaction valued at $5 ...
GFI Realty Services, Inc. announced the sale of 969 43rd Street for $7 million.(Sales)
Nov 07, 2007 ... GFI Realty Services, Inc. announced the sale of 969 43rd Street for $7 million. The mixed-use four story walkup apartment building ...
Marcus & Millichap Real Estate Investment Services.(Sales)
Nov 07, 2007 ... Marcus & Millichap Real Estate Investment Services announced three closings in New Jersey by Greg Babaian, senior associate and member of the national multi housing group and national retail group: * A portfolio which sold for $1,200,000, with a 6.31% cap rate. Babaian ...
Marcus & Millichap.(Sales)
Nov 07, 2007 ... Marcus & Millichap announced the following sales: * A 20-unit multi-family property, located at 199 East 53rd Street, Brooklyn, N.Y. for $1,585,000. The sale price reflects $75 per square foot, a capitalization rate of 6.7% and a Gross Rent Multiplier of 8.05. Zachary Felson of ...
Industry veteran a leader in field of asset management: John Basile, head of asset management services, GVA Williams.(PROFILE OF THE WEEK)
Nov 07, 2007 ... Industry veteran John Basile has what some might call a sixth sense when it comes to real estate trends. Over a career spanning 25 years managing the real estate assets of some of the nation's most prominent owners, Basile has learned to listen to his gut and steer a profitable ...
Around town: events seminars meetings talks.(Calendar)
Nov 07, 2007 ... Jacobs Exhibit Sept. 25 to Jan. 5: The Municipal Art Society of New York has launched a multi-faceted project to highlight the relevance of activist and author Jane Jacobs and the urban design principles presented in her classic text, The Death and Life of Great American Cities ....
NAI James E. Hanson completed the sale of a 90,000 s/f industrial building at 722 Frelinghuysen in Newark, N.J.(Sales)
Nov 07, 2007 ... NAI James E. Hanson completed the sale of a 90,000 s/f industrial building at 722 Frelinghuysen in ...
Pliskin Realty & Development announced that two of its associates teamed up to close on a $820,000 sale of a retail/ office building located at 707 Route 110 in Melville, N.Y.(Sales)
Nov 07, 2007 ... Pliskin Realty & Development announced that two of its associates teamed up to close on a $820,000 sale of a retail/ office building located at 707 Route 110 in Melville, N.Y. Pliskin's ...
Jack Jawdat, a senior real estate advisor with Prudential CRES Commercial Real Estate closed a $2.2 million sale on an 8,000 s/f property in Port Jefferson, N.Y.(Sales)
Nov 07, 2007 ... Jack Jawdat, a senior real estate advisor with Prudential CRES Commercial Real Estate closed a $2.2 million sale on an 8,000 ...
Weichert Commercial Brokerage, Inc. announced that Aaron Mittleman, senior vice president, completed the sales transaction of a 128,000 s/f industrial building in Neptune City, N.J.(Sales)
Nov 07, 2007 ... Weichert Commercial Brokerage, Inc. announced that Aaron Mittleman, senior vice president, completed the sales ...
CB Richard Ellis' Westchester/Fairfield Private Client Group arranged the sale of 189 Elm Street, a 2,460 s/f property situated on 0.16 acres of land located in downtown New Canaan, Conn.(Sales)(Brief article)
Nov 07, 2007 ... CB Richard Ellis' Westchester/Fairfield Private Client Group arranged the sale of 189 Elm Street, a 2,460 s/f property situated on 0.16 acres of land located in downtown New Canaan, Conn. The PCG ...
Gebroe-Hammer Associates.(Sales)(Brief article)
Nov 07, 2007 ... Gebroe-Hammer Associates negotiated the sale of three multi-family properties in New Jersey recently in separate transactions with a combined value of approximately $8.15 million: * In Bergen County, area sales associate Elliot Schechter, vice president David Jarvis and ...
Michael Kerwin and Yosef Katz of GFI Realty Services Inc., announced the sale of 45-16 44th Street in the Sunnyside neighborhood of Queens, N.Y.(Sales)
Nov 07, 2007 ... Michael Kerwin and Yosef Katz of GFI Realty Services Inc., announced the sale of 45-16 44th ...
A 19,000 s/f building known as Riverside Comers has been sold for $7,500,000 to Phat Development from Greenwich.(Sales)
Nov 07, 2007 ... A 19,000 s/f building known as Riverside Comers has been sold for $7,500,000 to Phat Development ...
The Kislak Company, Inc., completed the $6.5 million sale of The Madison on Washington Street, a 125,000 s/f office building in Reading, Penn.(Sales)
Nov 07, 2007 ... The Kislak Company, Inc., completed the $6.5 million sale of The Madison on Washington Street, a 125,000 s/f office building in Reading, Penn. Vice president ...
Weichert Commercial Brokerage, Inc. announced that Aaron Mittleman, senior vice president, completed the transaction of a 128,000 s/f industrial building in Neptune City, N.J.(Sales)
Nov 07, 2007 ... Weichert Commercial Brokerage, Inc. announced that Aaron Mittleman, senior vice president, completed the transaction of a 128,000 s/f industrial building in Neptune City, N.J. Working on behalf ...
Itzhaki Properties, Inc.(Agents)
Nov 07, 2007 ... Itzhaki Properties, Inc. announced the following assignments: * The firm has been retained as the exclusive listing broker for 1014 Park Place in Brooklyn, a renovated brownstone apartment building with 16 apartment units, looking directly onto Brower Park. The asking price for ...
Eastern Consolidated.(Agents)
Nov 07, 2007 ... Eastern Consolidated announced the following exclusive assignments: * Two side-by-side suburban Class B office buildings, totaling 138,607 s/f and situated on 10 acres in Piscataway, N.J., are being offered for sale exclusively through Eastern Consolidated. Executive directors, ...
Massey Knakal Realty Services has been retained to sell The Omni Townhouse Portfolio--five vacant townhouses in the Central Harlem and Hamilton Heights areas of Manhattan with a combined asking price of $5,050,000.(Agents)
Nov 07, 2007 ... Massey Knakal Realty Services has been retained to sell The Omni Townhouse Portfolio--five vacant townhouses in the Central Harlem and Hamilton Heights areas of Manhattan with a combined ...
Grubb & Ellis Company announced that Robert Yaffa and Wayne Van Aken from its New York office are representing 13,300 s/f at 130 Fifth Ave.(Agents)
Nov 07, 2007 ... Grubb & Ellis Company announced that Robert Yaffa and Wayne Van Aken from its New York office are representing ...
Nicole Carra president of NLC Realty LLC was appointed exclusive broker for the sale of 554-558 West 181 Street, in New York, N.Y.(Agents)
Nov 07, 2007 ... Nicole Carra president of NLC Realty LLC was appointed exclusive broker for the sale of 554-558 West 181 Street, in New York, N.Y. The ...
Sheldon Good & Company Auctions NorthEast LLC.(Agents)
Nov 07, 2007 ... Sheldon Good & Company Auctions NorthEast LLC has been retained to sell at auction a three-building former auto dealership center in the Bronx. The properties at 4353 and 4329 Bronx Boulevard consist of two adjacent, one-story, car dealership ...
Reilly Mann Newell Realty Group has been appointed the exclusive sales broker for the 43 Mall in West Sand Lake, N.Y.(Agents)
Nov 07, 2007 ... Reilly Mann Newell Realty Group has been appointed the exclusive sales broker for the 43 Mall in West Sand Lake, N.Y. This strip mall contains approximately 36,000 retail s/f, on 4 acres and has ...
NYC growth attractive to global investors.(New York City)
Nov 07, 2007; ... It's a small world, and it's only expected to shrink further as globalization will attract more foreign investors to New York City within the next decade, according to the panelists at last week's second annual Commercial Real Estate Forum. Moderated by William Shanahan, vice ...
PA ready for take off at Stewart Airport.
Nov 07, 2007; ... The Port Authority announced that it is taking control of the operations of Stewart Airport this week, after purchasing its operating lease in January. Even though the airport is roughly 80 miles north of New York City, the Port Authority has treated the facility as if it was within the ...
Developers take a shine to downtown hospitality.
Nov 07, 2007; ... Hospitality is the newest "it" industry in real estate, and Manhattan, known not just for following, but sparking most trends, is steadily paving the way with 18 hotels proposed or under construction in the downtown area alone. "Many investors have come to realize that hotels ...
CBRE completes sale of $294m Conn. portfolio.(C.B. Richard Ellis)(Brief article)
Nov 07, 2007 ... CB Richard Ellis announced that it has completed the sale of a $294.4 million Class "A" office portfolio totaling 1,485,235 s/f and located in Minneapolis, Minnesota and Norwalk, Connecticut. The properties were sold by CBRE Investors to an entity managed by Strategic Real Estate Advisors ...
Massey Knakal puts $12m Brooklyn hotel sale to bed.
Nov 07, 2007 ... A 187' x 80' development site with plans for hotel rooms at 300 Schermerhorn in downtown Brooklyn was sold by Massey Knakal Realty Services in an all-cash transaction valued at $11,900,000 to a hotel developer and operator. The C6-1 zoned property is located on Schermerhorn, ...
Sale paves way for famed deli.
Nov 07, 2007 ... A 25-foot-wide mixed-use building that will reopen early next month as the new location for the famed Second Avenue Dell in Murray Hill was sold by Massey Knakal Realty Services in an all-cash transaction valued at $5,216,250. Stuart V. Rubinfeld, president of Matel Realty, procured the ...
It's lights, camera and action for IntoTheBox.tv.
Nov 07, 2007; ... It's a rat race out there and since moving to New York City in 2000, Rachel Natalie Klein has felt boxed into the real estate scene. Now she's looking to bring the industry's stories and idiosyncrasies to a new medium coined IntoTheBox.tv--an interactive Web site dedicated to the world's ...
That's a wrap for Nissani studio deal.
Nov 07, 2007; ... Tax and other incentives have been a boon to television and film production in the city and unsurprising the city's two largest studios, Steiner Studios and Silvercup Studios, have announced major expansions in recent months. Still, brothers Clinton and Clifford Kennet feel like their new ...
Sister companies renew set of W. 18th Street leases.(Brief article)
Nov 07, 2007 ... Adams & Co. Real Estate recently brokered two 10-year lease renewals at 44 W. 18th St. for sister companies Ronald Jonas Interiors and Jonas Upholstery Inc. The two spaces, located on the seventh and 10th floors, comprise a total of 22,610 s/f and will continue to be used for showroom and ...
Monday Properties inks 6,211 s/f among 8 transactions.(Brief article)
Nov 07, 2007 ... Monday Properties, the New York-based real estate development, ownership and management company, has completed eight lease transactions, totaling 16,211 s/f, at the 253,500 s/f 386 Park Ave. South. Craig Panzirer, director of leasing for Monday Properties, represented building ...
ABS signs 5-year lease renewals, expansions.
Nov 07, 2007 ... ABS Partners Real Estate, LLC, a unique full service Real Estate advisory company specializing in management, leasing, investment sales, and acquisitions managing over 5.5 million square feet of commercial and residential space, announced the renewal of two leases. City Year, ...
NYC makes Top 10 market list.
Nov 07, 2007 ... Sperry Van Ness, one of the nation's largest commercial real estate brokeage firms, has leased the office edition of its 2007 Top 10 Markets To Watch Report, examining economic factors that impact future office investment real estate. The report focuses on future trends and the ...
Mack-Cali completes 152,000 s/f Westchester leases.
Nov 07, 2007 ... Mack-Cali Realty Corporation (NYSE: CLI) announced the following leases at its Westchester County, New York properties: United Parcel Service (NYSE: UPS), a global package delivery company, renewed its lease of 77,203 s/f for the entire building at 3 Warehouse Lane in Elmsford ....
Pipeline Financial, Haver Analytics sign Lincoln leases.
Nov 07, 2007 ... Two significant leases have been signed at The Lincoln Building, a W&H property at 60 East 42nd Street, announces Brian Waterman, executive vice president of Newmark Knight Frank, the property's managing and leasing agent. Through four separate transactions, Pipeline Financial ...
Choyce coordinates Stamford office lease.
Nov 07, 2007 ... Choyce Peterson, Ine, a tenants' commercial real estate brokerage firm with offices in Stamford, Conn. and White Plains, N.Y., has negotiated a new, 12,200 s/f lease for O'Shaughnessy Asset Management, LLC at Six Suburban Ave. in Stamford. O'Sbaughnessy Asset Management, founded ...
DLC expands its portfolio.(NATIONAL)
Nov 07, 2007 ... TARRYTOWN, N.Y.: DLC Management Corporation, a national owner and operator of open-air shopping centers, announced the acquisition of a portfolio consisting of seven shopping centers located throughout the Southeast. Consistent with DLC's portfolio, these centers are positioned in primary, ...
GE provides $37m for hotel fund.(NATIONAL)
Nov 07, 2007 ... TAMPA: GE Real Estate announced it provided a $37 million on-book, flexible rate loan to the Shamrock-Hostmark Hotel Fund, LP to facilitate the acquisition and renovation of the 489-key Doubletree Hotel and adjacent freestanding restaurant in Tampa, Fla. Shamrock-Hostmark plans to renovate ...
Kislak closes multifamily sale.(NATIONAL)
Nov 07, 2007 ... PHILADELPHIA: The Kislak Company, Inc., a leading multi-family and retail investment sales firm, completed the sale of two multi-family portfolios in northeastern Philadelphia, Penn., totaling $27.579 million. The first portfolio, which sold for $17.679 million, consists of 312 ...
Itzhaki brokers LIC's largest hotel deal to date.
Nov 07, 2007 ... In what may be Long Island City's largest known hotel-based real estate transaction, Itzhaki Properties announced the sale of five adjacent properties along Jackson Avenue between 45th Avenue and 45th Road that together total close to 170,000 s/f of buildable space, Erez Itzhaki, president ...