Real Estate Weekly back issues from April 2008:
MSG digs in for Moynihan Station tug of war.(Madison Square Garden)
Apr 02, 2008; ... Speculation has begun to mount whether Madison Square Garden's announcement last Thursday that it was abandoning a plan to relocate to the Farley building--effectively shrugging off its critical participation in a larger project to overhaul Penn Station--may have been for reasons beyond ...
Tishman lands $1b Hudson Yards deal.
Apr 02, 2008; ... The Metropolitan Transportation Authority has selected Tishman Speyer Properties to develop the West Side rail yards in a billion dollar deal that MTA officials said will be used to provide funding for the cash-strapped agency's capital budget. But there were hints of ...
Ratner secures $680m Beekman finance.
Apr 02, 2008; ... Forest City Ratner announced last Friday that it had secured a $680 million package of financing from four lenders for the development of its Beekman Project in Lower Manhattan. The firm, which has developed a number of buildings in Manhattan, including the Eighth Avenue headquarters for ...
Feds act on finance oversight.
Apr 02, 2008; ... The Treasury Department unveiled a host of measures on Monday designed to make the U.S. regulatory system more efficient while providing better oversight in order to avoid financial crisis such as the subprime crisis and the resulting current credit crunch. "We should and can ...
UJA-Federation of New York's Real Estate & Allied Trades Division's Young Real Estate Executives (REX) honored Lynn Zises of LawCash at its annual luncheon at The Waldorf-Astoria.
Apr 02, 2008 ... [ILLUSTRATION OMITTED] Caption: UJA-Federation of New York's Real Estate & Allied Trades Division's Young Real Estate Executives (REX) honored Lynn Zises of LawCash at its annual luncheon at The Waldorf-Astoria, The Honorable Cory Booker, mayor of Newark, New Jersey, addressed ...
Jeff Blau to be honored at annual Modell Foundation Spring gala.
Apr 02, 2008; ... Primary Immunodeficiency's biggest supporters will gather at Cipriani for the Jeffrey Modell Foundation's (JMF) annual Spring Ahead Gala. The foundation is honoring Jeff Blau, president of Related Companies and staunch supporter of JMF, as "Man of the Year" at this year's event. ...
Industry awaits impact of new Bear Sterns deal.
Apr 02, 2008; ... JPMorgan Chase amended its offering for Bear Stearns a week after the investment bank reached a deal to buy the firm in a fire sale orchestrated by the Fed to stave off Bear's sudden bankruptcy. JPMorgan will now pay $10 a share in a cash and stock deal that executives hope will ...
Hedge fund blames lease flap for 6th Ave. u-turn.
Apr 02, 2008; ... DB Zwirn didn't back off a deal to take 60,000 s/f at 1251 Avenue of the Americas as a result of its recent decision to close two of its funds totaling $4 billion a spokesman for the company said. The spokesman, Brian Maddox, said that the deal at 1251 Avenue of the Americas couldn't go ...
Size matters for transit hub design.(Brief article)
Apr 02, 2008; ... The Port Authority was conspicuously tightlipped at last week's board meeting about just whether a value engineering process in the design for Calatrava Station will alter the transit hub's signature components including its oculus, which aboard member had told rew-online.com in recent ...
Savills Granite.(WHO'S NEWS)(appointment of Mark De Riemer Savills Granite )(Brief article)
Apr 02, 2008 ... Savills Granite announced that Mark De Riemer has joined the firm as senior vice president at the firm's New York City office. Mr. De Riemer will be responsible for expanding the firm's investment sales practice, with a focus on office and retail transactions. Mark De Riemer previously ...
Situs Companies.(WHO'S NEWS)(appointment of David G. Stern at The Situs Companies )(Brief article)
Apr 02, 2008 ... The Situs Companies has announced the global real estate services firm has recruited David G. Stern as vice president of real estate consulting and due diligence. He will report directly to principals Bruce Nelson and. Steve Powel. Prior to joining Situs, Stern was vice president of ...
Mission Capital Advisors.(WHO'S NEWS)
Apr 02, 2008 ... Mission Capital Advisors, LLC announced that Terence Bundy has joined the company as an analyst. Bundy's responsibilities include commercial sales and trading, business development, trading project management and due diligence. Bundy joined Mission Capital Advisors from Merrill Lynch, ...
East Coast Abstract Group.(WHO'S NEWS)(appointment of Ralph G. Meyer, Jr. at East Coast Abstract Group )(Brief article)
Apr 02, 2008 ... The East Coast Abstract Group formally announced the addition of Ralph G. Meyer, Jr. and Anthony Gioia to the sales and marketing division of the organization. Meyer and Gioia will be responsible for expanding the organizations presence in the tri-state area while also focusing on ...
CitySites Commercial Group.(WHO'S NEWS)
Apr 02, 2008 ... CitySites Commercial Group is pleased to announce that Lena Dikker has joined the commercial brokerage firm as an associate director. Ms. Dikker will be focusing on office leasing and sales for the banking and financial sector, drawing upon her previous work experience in the sector. Prior ...
Hampshire Companies.(WHO'S NEWS)(appointments)(Brief article)
Apr 02, 2008 ... The Hampshire Companies announced the appointments of Michael Harrington as asset manager, Karen Goodman as assistant controller and Trent Taylor as assistant asset manager/ financial analyst. * As asset manager, Mr. Harrington will be responsible for all aspects of asset ...
CresaPartners.(WHO'S NEWS)
Apr 02, 2008 ... CresaPartners announced the firm has added two professionals to its growing New York team. * Kenneth B. Witler, a real estate veteran with more than 20 years of experience, was named vice president. He will provide site selection, contract and lease negotiation services and ...
Impulsive Group.(WHO'S NEWS)(appointment of Jeffrey M. Stegman at The Impulsive Group)(Brief article)
Apr 02, 2008 ... The Impulsive Group, has recently hired Jeffrey M. Stegman as general manager of Sanctuary, a new boutique hotel currently being developed at 132 West 47th Street. Mr. Stegman has an extensive background in rooms, hotel openings and renovations with an emphasis on F&B. In his new position, ...
Cushman & Wakefield, Inc.(WHO'S NEWS)
Apr 02, 2008 ... Cushman & Wakefield, Inc. has promoted David DeMatteis to the position of associate director. DeMatteis has worked as part of the Transaction Services team at Cushman & Wakefield's East Rutherford office since 2001. As a tenant representation specialist, DeMatteis handles a number of ...
Praedium Group.(WHO'S NEWS)(appointment of David Dowell at The Praedium Group )(Brief article)
Apr 02, 2008 ... The Praedium Group named David Dowell, as vice president of acquisitions for the midwest region. In this capacity, Mr. Dowell is responsible for identifying and acquiring assets that meet Praedium's opportunistic, value-added investment strategy. In this role, Mr. Dowell will be ...
Katz & Associates.(WHO'S NEWS)
Apr 02, 2008 ... Brian Katz has been promoted to chief operating officer of Katz & Associates. After three years ...
Marcus & Millichap Real Estate Investment Services.(WHO'S NEWS)
Apr 02, 2008 ... Marcus & Millichap Real Estate Investment Services has named Hal Fuchs as a senior associate in the firm's Manhattan office, according to Edward Jordan, regional manager of the firm's Manhattan and New Haven offices. Formerly an agent with Besen & ...
Itzhaki Properties.(WHO'S NEWS)
Apr 02, 2008 ... Itzhaki Properties recently announced Aaron Kozhiooff has been promoted to associate sales person. He began working the Queens/Brooklyn residential real estate markets in ...
Seyfarth Shaw LLP.(WHO'S NEWS)(appointment of Peter J. Korda and Andrew M. Pearlstein at Real Estate Finance Practice Group)(Brief article)
Apr 02, 2008 ... Seyfarth Shaw LLP announced that Peter J. Korda and Andrew M. Pearlstein have been named co-chairs of the Structured and Real Estate Finance Practice Group (SREF). * Korda is a partner in the NY office. His practice concentrates on representing members of the lending community ...
Itzhaki Properties announced its exclusive right to sell a 4 Building package in East Orange, N.J.(Agents)
Apr 02, 2008 ... Itzhaki Properties announced its exclusive right to sell a 4 Building package in East Orange, N.J. The elevator residential buildings contain a total of 268 units. These well maintained apartments ...
Houlihan & O'Malley Real Estate Services, Inc.(Agents)
Apr 02, 2008 ... Dan Houlihan of Houlihan & O'Malley Real Estate Services, Inc. has been retained as the exclusive agent for the sale of a 24-unit Townhouse complex at 152 Tier St. on City Island in The Bronx at an asking ...
Joshua Zellner, president of Zellner Realty Corp., has announced the sale of 25 Dongan Place, New York, NY.(Sales)
Apr 02, 2008 ... Joshua Zellner, president of Zellner Realty Corp., has announced the sale of 25 Dongan Place, New York, NY. The apartment building sold for $5,300,000 and is located between Broadway and Arden Street in the Inwood section of Manhattan. The sale consisted of a 5-story apartment building ...
Cohen and Company, Inc. Real Estate (CCIRE) is pleased to announce the sale of Ordnance Plaza a 154,611 s/f community power center in Glen Bumie, Maryland.(Sales)
Apr 02, 2008 ... Cohen and Company, Inc. Real Estate (CCIRE) is pleased to announce the sale of Ordnance Plaza a 154,611 s/f community power center in Glen Bumie, Maryland. The center is shadow-anchored by a 122,711 s/f Costco store and a 121,200 s/f Home Depot store ....
Massey Knakal Realty Services.(Sales)
Apr 02, 2008 ... Massey Knakal Realty Services announced the following transactions: * Massey Knakal Realty Services has sold a residential development site with a footprint of approximately 12,500 s/f at 88-96 Withers Street in the Williamsburg section of Brooklyn was sold by Massey Knakal ...
Polsinelli a stand out in investment sales arena: Adelaide Polsinelli, senior executive broker, The Platinum Team.(PROFILE OF THE WEEK)
Apr 02, 2008; ... Since the time she attended the Fashion Institute of Technology (FIT), Adelaide Polsinelli knew she was a perfect fit for sales. After trying on several sales positions for size, real estate is where she began to shine. And now Polsinelli, senior executive broker for The Platinum Team, is ...
Around town: events seminars meetings talks.(Conference news)(Calendar)
Apr 02, 2008 ... Construction Seminar Tannenbaum Helpern Syracuse & Hirschtritt LLP will host a special Construction Contracts Seminar Series that will focus on key contract issues related to project delivery methods, construction management, design and engineering and the avoidance of delays ....
GFI sells Manhattan buildings for $60m.(GFI Realty Services Inc.)(Brief article)
Apr 02, 2008 ... [ILLUSTRATION OMITTED] GFI Realty Services announced the sale of 210, 220, and 230 West 100th Street for $60,000,000. The sale price equates for $398 per square foot. Roni Abudi, managing director at GFI Realty Services, and Dan Suissa, senior broker, represented ...
Divvied up portfolio fetches fine sales price.(Brief article)
Apr 02, 2008 ... A seven-story elevator 45-unit apartment building with two stores, located at 111-115 East 7th Street in Manhattan's trendy East Village has just traded for $14.65 million. Eastern Consolidated vice chairman and principal, Brian Ezratty, represented the seller, Jonis Realty, ...
Bed, Bath & Beyond plan corporate office.
Apr 02, 2008 ... GVA Williams New Jersey recently completed the sale of 700 Liberty Ave., a 176,600 s/f warehouse and office building, in Union. GVA Williams New Jersey's president David Simson and senior vice president Ward Greer represented the buyer, Bed Bath & Beyond, and vice president Lori ...
Healthcare company leases 44,082 s/f for new HQ.(Company overview)
Apr 02, 2008 ... Cushman & Wakefield announced that APS Healthcare Inc. (APS) signed a long-term lease for 44,082 s/f at Westchester One, an 852,000 s/f building located at 44 South Broadway in downtown White Plains. The privately held specialty healthcare company will locate its new corporate headquarters ...
TheLadders.com expands NY headquarters.(Brief article)
Apr 02, 2008 ... TheLadders.com, the online marketplace for $100k+ jobs, announced that it has expanded its presence in New York City, adding 20,000 s/f of new space in Hudson Square. The new location at 205 Hudson Street joins TheLadders.com's current 25,000 s/f headquarters at 137 Varick Street in ...
Latest lease takes Ratner's MetroTech to full occupancy.
Apr 02, 2008 ... Forest City Ratner Companies announced that the National Union Fire Insurance Company, a subsidiary of American International Group (AIG), has signed a lease for office space in 12 MetroTech Center in Downtown Brooklyn. With this transaction complete, the building is now 100 percent ...
Travel firms land in pre-builts at W&H Properties' 112 W34th.
Apr 02, 2008 ... Three travel-related firms have signed leases for pre-built units in W&H Properties' 112 West 34th Street, announces Barry Zeller, executive director of Cushman & Wakefield, the building's managing and leasing agent. Northwest and Aeromexico will become new tenants in the ...
Bank subleases 17,774 s/f space.
Apr 02, 2008 ... Winoker Realty Company negotiated a 17,774 s/f sublease and expansion for Rodman & Renshaw in the Harper & Row Building, 10 East 53rd Street. The Plaza District sublease has a term of one year. Corey Abdo, senior vice president at Winoker, represented Rodman & Renshaw. Harry F ....
Port Authority vows carbon neutrality by 2010.
Apr 02, 2008 ... The Port Authority Board of Commissioners has expanded the agency's commitment to the environment by announcing a goal of carbon neutrality from its operations by 2010. The agency aims to reach net zero annual carbon emissions from its operations first and foremost through new ...
HUD boss steps down.(U.S. Housing and Urban Development Secretary)(Alphonso Jackson stepping down from U.S. Housing and Urban Development Secretary )(Brief article)
Apr 02, 2008 ... U.S. Housing and Urban Development Secretary Alphonso Jackson announced he will be stepping down as the nation's chief housing officer. Jackson will conclude his government service as the nation's 13th HUD Secretary on April 18, 2008. "During my time here, I have sought to make ...
U.S. Energy's USE manager ups portfolio efficiency.(PROPERTY MANAGEMENT)
Apr 02, 2008 ... U.S. Energy Group announced a new version of the USE Manager online monitoring system. The new USE Manager 5.1 brings increased alerting capabilities and improved functioning. Building portfolio managers can drive their properties to peak fuel-savings efficiency with email alerts tailored ...
Wilenta Carting lends hand to Habitat for Humanity.(PROPERTY MANAGEMENT)
Apr 02, 2008 ... Wilenta Carting, Inc., a waste management company based in Secaucus, New Jersey, is giving back to the community by lending helping hand to Habitat for Humanity by donating dumpsters for use in the development of new homes. The company recently donated its services to five new home sites ...
IREM launches intern program.(PROPERTY MANAGEMENT)
Apr 02, 2008 ... The Institute of Real Estate Management (IREM) recently launched an internship program that introduces newcomers to the field of real estate management. To mark the first phase of the program, which will expand over time, an internship section has been created on IREM's online job board, ...
Tara Parcesepe is Community Manager of the Year.(PROPERTY MANAGEMENT)(award for Tara Pareesepe )
Apr 02, 2008 ... The New Jersey Chapter of Community Associations Institute (CAI) recently presented Tara Pareesepe of Wentworth Property Management Corp. with the "Candiee Bladt Community Manager of the Year" Award. CAI is a national, non-profit organization dedicated to fostering vibrant, responsive, ...
Winoker Realty Company negotiated a 6,000 s/f lease expansion by VCS Group at 141 West 36th Street in Manhattan's Garment District.(New York)
Apr 02, 2008 ... Winoker Realty Company negotiated a 6,000 s/f lease expansion by VCS Group at 141 West 36th Street in Manhattan's Garment District. Corey Abdo, senior vice president at Winoker Realty, negotiated on ...
Barbara Raskob of the Kaufman Organization brokered six leases totaling 10,320 s/f, at the Nelson Tower located at 450 Seventh Ave.(New York)
Apr 02, 2008 ... Barbara Raskob of the Kaufman Organization brokered six leases totaling 10,320 s/f, at the Nelson Tower located at 450 Seventh Ave. Asking prices for all transactions were in the high $40s psf. Raskob represented the landlord, the Kaufman Organization, in all Nelson Tower transactions ...
CresaPartners has negotiated a 4,988 s/f lease on behalf of Dutch law firm Stibbe P.C. at 489 Fifth Avenue, between East 41st and 42nd Street.(New York)
Apr 02, 2008 ... CresaPartners has negotiated a 4,988 s/f lease on behalf of Dutch law firm Stibbe P.C. at 489 Fifth Avenue, between East 41st and 42nd Street. The term is for 10 years. The tenant, which will occupy the entire 32nd floor in the spring, is ...
Properties Unlimited.(New York)
Apr 02, 2008 ... Properties Unlimited, a CBC affiliate located in Manhattan, has negotiated two office leases in Manhattan for a total of 12,700 s/f: * Integrated Services Corp. has leased 7,500 s/f for five years at 444 Park Avenue South. CBC Brokers Barry Shaw and Stanley Conway represented ...
Three new office tenants have signed leases at The Herald Square Building, a W&H property at 1350 Broadway, announced Jonathan Fanuzzi, senior portfolio manager of Newmark Knight Frank, the building's managing and leasing agent.(New York)
Apr 02, 2008 ... Three new office tenants have signed leases at The Herald Square Building, a W&H property at 1350 Broadway, announced Jonathan Fanuzzi, senior portfolio manager of Newmark Knight Frank, the building's managing and leasing agent. The new tenants are: * Miskin & Tsui-Yip LLP, a ...
Sitar Realty Company * Oncor International has completed the following leases for the month of January/February 2008.(New Jersey)
Apr 02, 2008 ... Sitar Realty Company * Oncor International has completed the following leases for the month of January/February 2008: * Joe Nitti, Bill Sitar, Jr., and Sachiyo Asakawa represented Soul Tress Corporation in a lease for 32,022 s/f at 25 Empire Drive, Moonachie, N.J. The landlord ...
RFR Realty LLC.(Connecticut)
Apr 02, 2008 ... RFR Realty LLC announced the completion of four leases at One, Two, and Three Stamford Plaza, totaling approximately 20,000 s/f: * Blackrock, a provider of global investment management, risk management and advisory services, signed a five-year lease for 3,371 s/f on the 13th ...
GVA Williams.(Connecticut)
Apr 02, 2008 ... GVA Williams of Connecticut announced the signing of a 5,000 s/f lease for American Technology Research at ...
Bell Falla & Associates LLC, a marketing research and consulting company, has leased 2,325 s/f for its headquarters on the penthouse level of MerrittView, according to Jeffrey H. Newman, executive vice president of W&M Properties, the marketing and managing agent for the building.(Connecticut)
Apr 02, 2008 ... Bell Falla & Associates LLC, a marketing research and consulting company, has leased 2,325 s/f for its headquarters on the penthouse level of MerrittView, according to Jeffrey H. Newman, executive vice president of W&M ...
Lighthouse adds 25 commercial properties to portfolio.
Apr 02, 2008 ... Lighthouse Real Estate Ventures, Inc., one of metropolitan New York's most active commercial real estate owner/operators, announced today that it has acquired certain commercial assets from the Baker Companies. The acquisition encompasses 1.9 million square feet of office/warehouse flex ...
CBRE completes Glenpointe Center deal.(C.B. Richard Ellis)(Brief article)
Apr 02, 2008 ... CB Richard Ellis has recently completed a 50,615 s/f lease on behalf of the law firm DeCotiis, Fitzpatrick, Cole & Wisler, LLP, at Glenpointe Center West, a 330,000 s/f office building, located at 500 Frank W. Burr Boulevard in Teaneck. CB Richard Ellis' Nicholas Savage, Charles ...
Legal referral service firm takes Sudler space.
Apr 02, 2008 ... The Sudler Companies, one of New Jersey's oldest real estate developers just celebrating its 100th year, recently announced it had leased 9,000 s/f of space to Nationwide Legal Referral Services at its 30 Park Road property in Tinton Falls. With this latest lease agreement, the 30,000 s/f ...
Sheldon Gross steers 28,068 s/f Monroe lease.
Apr 02, 2008 ... Sheldon Gross Realty, Inc. recently completed a 28,068 s/f industrial lease at 20 Abeel Rd. in Monroe. Sheldon Gross Realty's senior vice president Jonathan Glick represented the landlord, Dowel Associates. The tenant, R&M Manufacturing, will occupy the site for its daily operations. ...
Retail vacancy on the rise in northern New Jersey.
Apr 02, 2008 ... Fueled by the bankruptcies of Levitz Furniture and The Rag Shops, and closings of Comp USA stores in all but a few Sunbelt markets, vacancies in retail properties along northern New Jersey's six major shopping corridors grew to 3.6% during 2007 from 2.9% a year earlier, according to R.J ....
65 Willowbrook turning heads.
Apr 02, 2008 ... Cushman & Wakefield, Inc. has been named exclusive leasing agent for 65 Willowbrook Blvd., a 131,702 s/f, office building in Wayne. Following the consolidation/relocation of the property's anchor tenant, a large block of space has become available. Cushman & Wakefield's Ben ...
Castle Ridge Plz. lease.
Apr 02, 2008 ... Extreme-value retailer Five Below has leased 9,000 s/f of space at Castle Ridge Plaza, a shopping center owned by Garden Commercial Properties and located at the intersection of Route 10 and River Road in East Hanover, NJ. The new Five Below store--which is ...
Crescent holds LEED ready contractor workshop.
Apr 02, 2008 ... The Leadership in Energy and Environmental Design (LEED) Green Building Rating System is the nationally accepted benchmark for the design, construction, and operation of high performance green buildings. LEED gives building owners and operators the tools they need to have an immediate and ...
Developer advances with sustainability.
Apr 02, 2008 ... Advance Realty Group, a leading Northeast U.S. owner and developer of Class A office properties, today reaffirmed its industry leadership position by launching an energy conservation program that should lead to annual savings of 5 to 17% in energy consumption and an enhanced tenant ...
Sr. housing dedicated.
Apr 02, 2008 ... Community Assisted Tenant Controlled Housing, Inc. (CATCH), a citywide mutual housing group, together with Enterprise, a leading nonprofit provider of affordable housing nationwide, and City officials announced the rededication of Logan Gardens, a fully renovated 104-unit affordable ...
CPC financing brings NJ subdivision to fruition.
Apr 02, 2008 ... The Community Preservation Corporation (CPC) has helped a small, New Jersey-based developer secure a $5.3 million loan to construct a 24-lot subdivision in the New Sharon section of Deptford Township. The first phase of construction will complete 18 homes, including two affordable housing ...
Breakfast in bed has new meaning at Ariel East.
Apr 02, 2008 ... Ariel East, Extell Development Company's luxury condominium on the Upper West Side, has just begun daily breakfast service delivered directly to residents' homes. Ariel East residents enjoy daily continental breakfast delivered to their front door from 7 a.m. to 10 a.m. on ...