Real Estate Weekly back issues from January 2008:
2007's biggest RE merger is crowd pleaser.
Jan 02, 2008; ... A Who's Who of the real estate world turned out to celebrate the marriage last week of Africa Israel's CEO in the United States, Rotem Rosen, and Zina Sapir, daughter of the founder of the Sapir Organization, Tamir Sapir. Donald and Milania Trump, Giuseppe Cipriani, Steve ...
Port Authority misses WTC bathtub deadline.
Jan 02, 2008; ... The Port Authority announced on Monday that it will be delayed in handing over portions of the World Trade Center site where work on two major new office towers is scheduled to begin. The Port Authority has been preparing the parcels by excavating concrete, rock and soil down to ...
Catch 22 as Long Island City bids for growth?
Jan 02, 2008; ... Almost $30 million in city and federal funding has been slated for streetscape and traffic flow improvements in Long Island City, but more than five years after portions of the money were first allocated, the work has yet to commence. Among the most visible components of the ...
Myrtle Ave. proves to be magnet for new business.(Myrtle Avenue)
Jan 02, 2008; ... Manhattan's 'middle' class needs a place to go and Brooklyn's Myrtle Avenue is beginning to look like the alternative. On downtown's eastern portion of Myrtle Avenue, from Flatbush Avenue continuing five or so blocks east to Ashland Place, developers are saying goodbye to the ...
Howard Lorber and Dottie Herman of Prudential Douglas Elliman are pictured at the Prudential Douglas Elliman Holiday Party.
Jan 02, 2008; ... [ILLUSTRATION OMITTED] Caption: Howard Lorber and Dottie Herman of Prudential Douglas ...
Lieber to replace Doctoroff as Deputy Mayor of development.(Robert Lieber appointed as the head of Economic Development Administration after Dan Doctoroff resigned)
Jan 02, 2008; ... Mayor Michael Bloomberg announced that Robert Lieber, head of the Economic Development Agency, will be the city's new Deputy Mayor of Economic Development. The position has become an especially high profile job given the historic slate of economic development and revitalization ...
Germans plan major expansion into American housing market.
Jan 02, 2008; ... It's not just foreign consumers that are taking advantage of the American housing market. The latest international residential brokerage to jump into the mix is German-based Engel & Vo1kers Group. "We have shops in 25 different countries. We're opening two new shops every 100 ...
Community Preservation Corporation (CPC).(Who's News)
Jan 02, 2008 ... To meet the growing demands of their Bronx/Manhattan office, the Community Preservation Corporation (CPC) proudly announced the appointment of Patrick Logan, 40, as mortgage officer and the promotion of Andrew Giglio, 28, as neighborhood mortgage officer. As mortgage officer, ...
Massey Knakal Realty Services.(Who's News)
Jan 02, 2008 ... Massey Knakal Realty Services director of sales is pleased to announce that Mack Tham--who exclusively covers the Flushing area of Queens for the firm--was recently elected to the Chinese American Real Estate Association (CAREA) Board of Directors. CAREA is a nonprofit ...
CB Richard Ellis: Paul Allegretti.(Who's News)
Jan 02, 2008 ... CB Richard Ellis announced that Paul Allegretti has been promoted to senior managing director of the company's Asset Services Group in the New York Tri-State Region. In his new role, Mr. Allegretti will have responsibility for CBRE's nearly 50 million square feet of properties under ...
CB Richard Ellis: Paul D. Cohen.(Who's News)
Jan 02, 2008 ... CB Richard Ellis announced the appointment of Paul D. Cohen as first vice president with the responsibility of organizing the tri-state area's first Brownfield Practice Group. In this capacity, Mr. Cohen and his group will identify, classify, catalogue and market New Jersey's vast ...
CB Richard Ellis: Richard B. Hodos.(Who's News)
Jan 02, 2008 ... CB Richard Ellis announced that Richard B. Hodos, co-founder of New York City-based brokerage firm Madison HGCD, has joined the firm's Retail Services group as an executive vice president. As president and co-founder of Madison HGCD, a New York City-based retail brokerage and ...
Thacher Proffitt & Wood LLP.(Who's News)
Jan 02, 2008 ... Thacher Proffitt & Wood LLP announced that Robert A. Klausner has been admitted to the partnership in the Real Estate Practice Group, resident in the Summit, New Jersey office, effective January, 1, 2008. Previously a counsel at the Firm, Mr. Klausner specializes in leasing, acquisitions ...
First Allied Mortgage Bankers.(Who's News)
Jan 02, 2008 ... First Allied Mortgage Bankers has named Alan Goldman to the position of vice president reverse mortgage lending division for the firm. With over 43 years of experience successfully developing marketing and sales strategies, 25 of which has been in residential mortgage financing, Goldman ...
Madison Realty Capital (MRC).(who's News)
Jan 02, 2008 ... Madison Realty Capital (MRC) named Eric R. Scheffler managing director and general counsel. Mr. Schefler will manage the firm's corporate legal strategy and assist in overseeing Madison's loan portfolio. In addition to performing his duties as general counsel, Mr. Scheffler's ...
The Staubach Company.(Who's News)(Staubach Company West Inc. promotes Christopher T. Conklin to senior associate )(Brief article)
Jan 02, 2008 ... The Staubach Company recently announced the promotion of Christopher T. Conklin to senior associate in its New Jersey office. As senior associate, Conklin will work alongside principal J.C. Giordano and vice president Charlie Dillon of the corporate services division. His new ...
Anderson Kill & Olick, P.C.(Who's News)(Anderson Kill Olick and Oshinsky P.C. appoints Eric E. Schneck)(Brief article)
Jan 02, 2008 ... Anderson Kill & Olick, P.C. is pleased to announced that Eric E. Schneck has joined the firm as a shareholder in its real estate and construction department in the firm's New York office. Mr. Schneck comes to Anderson Kill from Seyfarth Shaw LLP, where he was a partner. Mr. Schneck's ...
Real estate's adrenalin junkies pushing it to the limit.
Jan 02, 2008; ... What do a martial arts master, a drag car racer, a roots band rocker, and a magician all have in common? During the day they are suit-and-tie professionals in the competitive real estate industry. It isn't uncommon for people in the industry to have unique interests, talents and ...
Shay Zach, of Itzhaki Properties has been assigned the exclusive to sell a mixed use apartment building on a north east corner at 2710 Frederick Douglas Blvd. in Central Harlem.(Agents)
Jan 02, 2008 ... Shay Zach, of Itzhaki Properties has been assigned the exclusive to sell a mixed use apartment building on a north east corner at 2710 Frederick Douglas Blvd. in Central ...
GVA Williams New Jersey announced it has represented Whale Ventures, LLC in its acquisition of 38 acres of land at 101 Possumtown Road in Piscataway.(Sales)(Brief article)
Jan 02, 2008 ... GVA Williams New Jersey announced it has represented Whale Ventures, LLC in its acquisition of 38 acres of land at 101 Possumtown Road in Piscataway. GVA Williams New Jersey's vice president ...
A 3,000 s/f office/retail building at 979 Post Road East in Westport, Conn. has been sold to Dandar Realty for $950,000.(Sales)
Jan 02, 2008 ... A 3,000 s/f office/retail building at 979 Post Road East in Westport, Conn. has been sold to Dandar Realty for $950,000. Executive vice president Franco ...
Itzhaki Properties announced the sale of a mixed use Bronx, N.Y. property for $2,200,000.(Sales)
Jan 02, 2008 ... Itzhaki Properties announced the sale of a mixed use Bronx, N.Y. property for $2,200,000. The property is located at 645 Van Nest Ave., on the ...
A 30-foot-wide, four-story loft building at 105 East 9th St. in Manhattan's East Village was sold by Massey Knakal Realty Services in a transaction valued at $4,400,000.(Sales)
Jan 02, 2008 ... A 30-foot-wide, four-story loft building at 105 East 9th St. in Manhattan's East Village was sold by Massey Knakal Realty Services in a transaction valued at $4,400,000. The transaction occurred at a capitalization rate of 5.78% and a gross rent ...
An 86-unit affordable housing portfolio at 110 Harbor Loop and 15 Harbor Rd. in Staten Island was sold by Massey Knakal Realty Services in an all-cash transaction valued at $4,550,000.(Sales)
Jan 02, 2008 ... An 86-unit affordable housing portfolio at 110 Harbor Loop and 15 Harbor Rd. in Staten Island was sold by Massey Knakal Realty Services in an all-cash transaction valued at $4,550,000. The transaction occurred at a capitalization rate of ...
Alfi leads by example in mentoring role at GFI.(PROFILE OF THE WEEK: Eyal Alfi, president of investment sales and finance GFI realty services)
Jan 02, 2008; ... The commercial real estate market may have seen better days but one man says the key to continued success lies in a broker's ability to understand the mindset of the investor. And that's just what he's been asked to help brokers do since joining GFI Realty Services last month. ...
Around town: events seminars meetings talks.(Calendar)
Jan 02, 2008 ... 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 ....
Luncheon a reminder of affordable housing hurdles.
Jan 02, 2008; ... The 34th annual awards luncheon of the New York Housing Conference (NYHC) and the National Housing Conference (NHC) recognized individuals who have made longstanding commitments to affordable housing; meanwhile, this year's honorees recognized that in today's market developing affordable ...
W.57th lease relocates law firm to midtown.
Jan 02, 2008 ... Levitt & Needleman, PC, has signed a new, long-term lease for 4,624 s/f on the sixth floor at 250 W. 57th Street. The firm will relocate from the tenth floor of 1780 Broadway, which will soon be converted to residential housing. "This location is ideal for Levitt & Needleman, ...
Ad agency to fill 15 full floors at 1675 Broadway.
Jan 02, 2008 ... In a major midtown leasing transaction, MMS USA Holdings, Inc., the North American subsidiary of global advertising giant Publicis Groupe, has renewed its commitment for over 350,000 s/f of space comprising 15 full floors at the Rudin Family's distinctive office tower at 1675 Broadway. ...
3Q report: office market in BK strong going into '08.
Jan 02, 2008 ... Key performance measures in the Brooklyn office market have remained reasonably strong through the first three quarters of 2007, according to a thirdquarter Office Research Report released by Marcus & Millichap Real Estate Investment Services, the nation's largest real estate investment ...
Rechler receives ACIT award.
Jan 02, 2008 ... Long Island based Rechler Equity Partners was honored with the prestigious 2007 "Professional Achievement Award" presented by The Advancement for Commerce Industry & Technology (ACIT) at its annual luncheon, held December 6th at the Melville Marriot Hotel. More than 600 business leaders ...
Choyce closes 26,600 s/f lease for research firm.
Jan 02, 2008 ... Choyce Peterson, Inc, a tenants' commercial real estate brokerage firm with offices in Stamford, CT, and White Plains, N.Y., has negotiated a new, 26,600 s/f lease for Market Data Retrieval, a D&B Company, at 6 Armstrong Road in Shelton, CT. Market Data Retrieval (MDR) will relocate its ...
RexCorp announces White Plains lease.
Jan 02, 2008 ... RexCorp Realty LLC, owner and operator of the 1.6 million square foot Class A Platinum Mile office portfolio announced that multinational construction consultant, IVI Due Diligence Services, Inc. signed a new long-term lease for 13,820 s/f at the newly repositioned park's 106 Corporate ...
Meridian.(FINANCE)(Meridian Inc. issues new mortgage)(Brief article)
Jan 02, 2008 ... Meridian announced the following transactions: * A new mortgage was placed by Meridian for $17,000,000 on a 293-unit Multifamily Complex on Mt. Prospect Avenue in Newark, NJ. The loan featured a rate of 5.750% and 10-year term. The transaction was negotiated by Joel Mazur and ...
James Gunning and Donna Falzarano of CB Richard Ellis Debt & Equity Finance arranged $6 million in first mortgage financing for 590 Commerce Boulevard LLC for a 78,721 s/f office/warehouse facility located at 590 Commerce Boulevard in Carlstadt.(FINANCE)
Jan 02, 2008 ... James Gunning and Donna Falzarano of CB Richard Ellis Debt & Equity Finance arranged $6 million in first mortgage financing for 590 Commerce ...
JG Capital, LLC.(FINANCE)(company issues new mortgage)(Brief article)
Jan 02, 2008 ... JG Capital, LLC announced the following transactions: * A new mortgage in the amount of $5,775,000 was issued three contiguous buildings on Second Ave in Manhattan containing 30 apartments and 5 stores. The loan featured a 5-year term and will benefit from a fixed rate of 5.90% ....
Marcus & Millichap Capital Corporation (MMCC) has arranged a $6.2 million fixed-rate loan to refinance the Class A, multi-tenanted office building at 90 Crystal Run Rd. in Middletown.(FINANCE)
Jan 02, 2008 ... Marcus & Millichap Capital Corporation (MMCC) has arranged a $6.2 million fixed-rate loan to refinance the Class A, multi-tenanted office building at 90 Crystal Run Rd. in Middletown. Gerald Kray, a senior director for the firm's Manhattan office, arranged the ...
GCP Capital Group LLC.(FINANCE)
Jan 02, 2008 ... GCP Capital Group LLC has announced the following transactions: * $27,200,000 for a 10-story elevator apartment building containing 65 units and ground floor retail space, located on West 110th Street in Manhattan, New York. Alan Perlmutter, managing member of GCP Capital Group ...
NCB tops $27m in November financing.(FINANCE)(NCB Corp.)
Jan 02, 2008 ... NCB originated over $27 million in financing in November for 16 New York area properties. The financings included $21.1 million in mortgages and $6.6 million in lines of credit. Edward Howe III, managing director of the NCB New York office, made the announcement. "Financing ...
CBRE arranges $61m financing for Mass. mall.(FINANCE)
Jan 02, 2008 ... Geoffrey Rice, a senior director in CBRE's Capital Markets New York City group, has secured bridge financing to tallng $61 million on behalf of Carlyle Swansea Partners LLC, an affiliate of Carlyle Development Group, based in White Plains, NY. The 2-year mortgage, provided by UBS Realty ...
ING earns top global award.(FINANCE)
Jan 02, 2008 ... ING Clarion Real Estate Securities, the real estate securities management group within ING Real Estate, has won the Global Real Estate Manager of the Year Award, a Speciallsts and Alternative Investment Manager Award presented by Professional Pensions, the leading UK publication for the ...
Northmarq finances two Rochester properties.(FINANCE)(Brief article)
Jan 02, 2008 ... Sam Berns, Senior Vice President and Managing Director of NorthMarq Capital, Inc.'s (NorthMarq) Upstate New York Regional office, arranged first mortgage financing of $16.1 million for Webster Manor Apartments, a 306-unit multifamily property, located in Webster, New York. Financing was ...
GE acquires nonperforming loan portfolio in Italy.(FINANCE)
Jan 02, 2008 ... GE confirms its commitment to the Non Performing Loans sectors in Italy by acquiring, through its subsidiaries GE Real Estate Italla and GE Corporate Financial Services("GE"), and in partnership with Pirelli RE/Calyon, a portfolio of non-performing loans originated by Banca Antonveneta and ...
CPC loan aids artist community, and mexican food market in N.J.(FINANCE)
Jan 02, 2008 ... A former warehouse for storing beads is now a new mix of art and culture at 41-49 Central Avenue, the 27,000 s/f residential-over-retail development financed through a nearly $2.1 million loan from the Community Preservation Corporation (CPC), a nonprofit mortgage lender with New Jersey ...
Winick stirs up three leases for coffee shop chain.(RETAIL)
Jan 02, 2008 ... Winick Realty Group, the Manhattanbased store leasing firm, has announced that Dunkin Donuts has signed long-term leases for three new locations in Manhattan. Joseph Isa of Winick Realty represented Dunkin Donuts in these transactions. The first store will be located in the ...
Upscale footwear steps into NoLIta lease.(RETAIL)
Jan 02, 2008 ... Shane and Shawn Ward, twin co-founders of Detny Footwear, Inc., kicked up their heels in announcing the signing of a lease for 2,200 s/f of space at 238 Mulberry Street in New York. Located between Prince and Spring Streets, in Manhattan's stylish NoLIta district, the Detny retail store is ...
Sinvin steers Perse store to LI location.(RETAIL)(Sinvin Realty Corp's contracy with James Perse )
Jan 02, 2008 ... Sinvin Realty, LLC announced that it brokered the lease for a new James Perse store, Perse's ninth to date, this one in East Hampton, Long Island, at 56 Newtown Lane. Perse, starting with caps and Tshirts and now a favorite "life-stylist" of celebrities and jet-setters, signed a long-term ...
The SoupMan cometh to 1,000 new locations.(RETAIL)(Brief article)
Jan 02, 2008 ... SoupMan, world-renowned for its New York City restaurant Al's Soup Kitchen International at West 55th Street and 8th Avenue in Manhattan, has announced plans to expand aggressively through the tri-state area. The company launched The Original SoupMan restaurants and a new ...
W&H honors brokers at Annual 21 Club Reception.
Jan 02, 2008 ... W&H Properties hosted its fourth annual broker reception to recognize commercial brokers for leasing space at any of the portfolio's nine pre-war trophy towers during 2007. The portfolio saw unprecedented levels of success this year with over 1 million square feet leased. This ...
Heyman finishes renovations at Riverpoint Center.(NEW JERSEY)(Heyman Properties)(Brief article)
Jan 02, 2008 ... Heyman Properties recently unveiled its newly renovated Riverpoint Center, at 85 Challenger Road in Ridgefield Park, which now offers the largest block of contiguous Class A office space in Bergen County. Upgrades at the 235,000 s/f facility include a makeover of the building's ...
Research firm snags 26,000 s/f at 400 Commons Way complex.(NEW JERSEY)(GVA Williams' contract with Biotest Diagnostics Corp.)(Brief article)
Jan 02, 2008 ... GVA Williams New Jersey recently completed a 26,024 s/f research and development lease at 400 Commons Way, an 82,000 s/f Class A flex/office building, in Rockaway. GVA Williams New Jersey's executive vice president John Cunningham represented the tenant. The landlord, RREEF, was ...
Pantheon heads up lease in Lyndhurst for elevator co.(NEW JERSEY)
Jan 02, 2008 ... Pantheon Properties announced the company's Real Estate Brokerage Division recently served as a third-party broker on behalf of R.S. Knapp for an industrial property located at 1000 Wall Street West in Lyndhurst, New Jersey. A long-term lease for the 16,185 s/f in dustrial space, which ...
RexCorp goes out with a bang in 2007 leasing.(NEW JERSEY)
Jan 02, 2008 ... RexCorp Realty LLC ("RexCorp") reported a strong fourth quarter for new leases and renewals in its New Jersey Division. The Company reported that leases and renewals for this period exceeded 128,000 s/f throughout its northern New Jersey holdings. In 2007, RexCorp recorded in ...
Northern NJ office prices continue to climb steadily.(NEW JERSEY)(Brief article)
Jan 02, 2008 ... Lease expirations at some Class A buildings have led to an increase in the overall vacancy rate so far this year in Northern New Jersey. Recent signing, however, will erase some of the t prick in the remaining months of 2007, according to a third-quarter Office Research Report released by ...
Invest in real estate without management burdens.(INSIDER'S OUTLOOK)
Jan 02, 2008; ... Even in the face of a tumultuous debt market, the fact remains that many real estate investors are increasingly looking to capitalize on their highly appreciated property by selling. However, there is an obvious dilemma for those choosing to defer paying taxes on the sale of a property by ...
This is not my beautiful life: a closer look at market uncertainty.(INSIDER'S OUTLOOK)
Jan 02, 2008; ... Reading the plethora of articles written about the shift in the credit markets reminds me of the lyrics in the Talking Head's song Once In A Lifetime: " ... how did I get here?" Lenders seem to be scratching their heads for answers. Did the lenders and mortgage brokers not understand that ...
iCRETE tapped for Freedom Tower site.
Jan 02, 2008 ... [ILLUSTRATION OMITTED] The innovative iCRETE system, offering record strength concrete and dramatic environmental benefits, is being used to build the Freedom Tower at Ground Zero in New York City. Both the 1,776 foot-tower, as well as the 186-foot inner safety core supporting ...
The subprime spillover strikes construction loans.
Jan 02, 2008; ... Subprime spillover has reached the development side of the industry, as the number of construction loan delinquencies, nationally, is beginning to soar. While New York is no South Florida, even this market isn't immune to the spreading financial fears--and their impact on large-scale ...
Arker gets financing for affordable units.
Jan 02, 2008 ... The Arker Companies has completed financing on a 118-unit development in the Bronx that will include 30 units set aside as supportive housing for the mentally disabled. Construction of the development--located at 2271 Washington Avenue in the borough's Fordham section--is ...
HOK designs Korea's first LEED office building.
Jan 02, 2008 ... [ILLUSTRATION OMITTED] The New York office of HOK has unveiled the design for its latest commercial office building in Songdo International Business District, Incheon, South Korea. The new 55,000 s/f, five-story Gale International/U-Life Northeast Asia Headquarters building, ...
NCI spearheads pre-built program for 400 Madison.
Jan 02, 2008 ... Norman Rijo, president, announced that NCI Construction, Inc. has recently completed a substantial pre-built program for 400 Madison Avenue, between 47th and 48th Streets in Manhattan, a Macklowe Properties and McGraw-Hudson property. The projects consisted of a 45,000 s/f gut ...
HMI reports builder confidence unchanged in 3rd straight month.
Jan 02, 2008 ... Builder confidence in the market for new single-family homes remained unchanged for a third consecutive month in December as problems in the mortgage market and excess inventory issues continued, according to the latest NAHB/ Wells Fargo Housing Market Index (HMI). The HMI held even at 19 ...
Bloomberg names Jahr president of city's HDC.
Jan 02, 2008 ... Mayor Michael R. Bloomberg announced the appointment of Marc Jahr as President of the New York City Housing Development Corporation (HDC). Jahr's appointment was approved by the HDC Board today. Since 2002, Jahr has served as New York Regional Director for Citi Community Capital, where he ...
LCOR commissions sculptor for lobby at 545 Madison Ave.
Jan 02, 2008 ... LCOR, the national real estate development and investment company, has commissioned artist Willard Boepple to create a sculpture series for the lobby of the newly redeveloped 545 Madison Avenue on the corner of 55th Street in Manhattan's Plaza District. The firm is renovating the 140,000 ...
Global Green grants Albanese annual design award.
Jan 02, 2008 ... [ILLUSTRATION OMITTED] Pioneer green real estate developer, The Albanese Organization, was honored last month with the Green Building Design award at the 8th Annual Designing a Sustainable and Secure World Awards at the Ritz-Carlton Hotel in Battery Park City. "I am ...