Real Estate Weekly back issues from June 2008:
Hudson Square getting hot again.
Jun 04, 2008; ... [ILLUSTRATION OMITTED] Media companies known for penning a good story have begun making headlines of their own, as more publishing firms continue to ink leases in Hudson Square. Now a neighborhood historically recognized for its industrial loft space is emerging as a ...
Call for review of high-rise building.
Jun 04, 2008; ... Work at five city construction sites remained shutdown three days after the fatal crane collapse that killed two workers last Friday. The sites were each using the same type of Kodiak crane that led to the accident at the site of a new school and luxury condominium at 335 91st ...
Mid-East money wanted.
Jun 04, 2008; ... Treasury Secretary Henry Paulson told guests at a business summit in Abu Dhabi Monday that he wants to deepen the U.S.'s investment ties with the region. State sponsored investment funds from the Middle East played a prominent role in providing major U.S. financial firms with ...
$360m for Trump hotel.
Jun 04, 2008; ... Donald Trump's Atlantic City portfolio just got scaled back, as Coastal Marina LLC will try its hand at operating the Trump Marina Hotel Casino. The casiono--one of three owned by Trump Entertainment there--sold to the affiliate of Coastal Development for $316 million last week. ...
New York State Governor David A. Paterson addressed The Real Estate Board of New York (REBNY) Board of Governors recently.
Jun 04, 2008 ... [ILLUSTRATION OMITTED] Caption: New York State Governor David A. Paterson addressed The Real Estate Board of New York (REBNY) Board of Governors recently. Governor Paterson spoke about Moynihan Station on the Far West Side. He pledged to continue efforts to develop and improve ...
Kingdom expands to 50,000 s/f at Carnegie Hall Tower.
Jun 04, 2008 ... The Staubach Company announced that it has represented Kingdon Capital Management in lease negotiations at 152 West 57th Street, site of Carnegie Hall Tower. Kingdon Capital Management extended and expanded its current lease, taking an additional two floors as well as more space ...
Correction.(Correction notice)
Jun 04, 2008 ... CORRECTION: On May 14, 2008, a press release was issued stating The Pegasus Group of Hoboken, NJ was named the partial Receiver of a stalled residential project called Ridgefield Commons in Sussex County, NJ. The release contained erroneous information about The Pegasus Group's role in the ...
Firms put their money on 60 East 42nd Street.(Brief article)
Jun 04, 2008 ... Three financial service firms have signed leases totaling in excess of 10,000 s/f at W&H Properties' 60 East 42nd Street, announces John Sinon, director of Newmark Knight Frank, the property's managing and leasing agent. They include: JF Capital Advisors, which specializes in ...
State doing more with less.
Jun 04, 2008; ... Governor Paterson said that state agencies have been successful in devising methods to reduce their spending by 3.35% this year, meeting a target Paterson had set for them in April to begin cutting back to ease a projected $5 billion deficit in the budget next year. Paterson had ...
CB Richard Ellis Group, Inc.(WHO'S NEWS)
Jun 04, 2008 ... CB Richard Ellis Group, Inc. (CBRE) announced that Nanette Black, a human resources executive with extensive corporate expertise, has joined the firm as vice president of human resources for the Americas. In this position, Dr. Black will serve as a member of CBRE's America's strategic ...
TCN Worldwide.(WHO'S NEWS)(appointment of David C. Wagner, Larry Elbaum and Al Donato)
Jun 04, 2008 ... TCN Worldwide is proud to announce its 2008-2009 Board of Directors. The board includes: David C. Wagner, chairman; Larry Elbaum, vice chairman; Al Donato, III, treasurer; Ford Price, Jr., secretary; and board members Hans Hansson, Richard Bowers, Andres Claure and Tyler Quast of Zifkin ...
Venable LLP.(WHO'S NEWS)
Jun 04, 2008 ... Venable LLP announced that noted environmental lawyer Michael C. Davis has joined the firm as a partner in its Environmental Group. With a broad practice that spans regulatory counsel, litigation, real estate transactions and insurance coverage, Mr. Davis will work out of the firm's New ...
CB Richard Ellis Group, Inc. (CBRE) announced the launch of its Financial & Tax Reporting Services practice within the Valuation & Advisory Services Group, a new initiative that provides clients with a comprehensive array of services to help their financial reporting and transparency requirements.(WHO'S NEWS)
Jun 04, 2008 ... CB Richard Ellis Group, Inc. (CBRE) announced the launch of its Financial & Tax Reporting Services practice within the Valuation & Advisory Services Group, a new initiative that provides clients with a comprehensive array of services to help their financial reporting and transparency ...
Carlton Advisory Services: Brendon Nepon.(WHO'S NEWS)(appointment of)(Brief article)
Jun 04, 2008 ... Carlton Advisory Services' chairman Howard L. Michaels has announced that Brendon Nepon has joined Carlton as an analyst and public relations manager. Nepon's primary responsibilities will include underwriting investment opportunities across all property types, assisting in the placement ...
Mitsui Fudosan America, Inc.(WHO'S NEWS)(appointment of Hiroki Saito)(Brief article)
Jun 04, 2008 ... Mitsui Fudosan America, Inc. (MFA) announced the appointment of Hiroki Saito as chief executive officer. Mr. Saito brings more than 20 years of experience in commercial real estate leasing and investment to the position and has relocated to the company's U.S. headquarters. Most recently, ...
CBRE Hotels.(WHO'S NEWS)
Jun 04, 2008 ... CBRE Hotels announced that it has added senior vice presidents Gavin Davis and Stan Kozlowski to its Debt & Equity Finance team. Mr. Davis and Kozlowski will be joining San Diego office, and will be working closely with Jonathan Rice, a senior vice president within CBRE Hotels' Debt & ...
CB Richard Ellis.(WHO'S NEWS)(appointment of Enoch Lawrence)(Brief article)
Jun 04, 2008 ... CB Richard Ellis announced that it has hired 15-year commercial real estate veteran Enoch Lawrence as senior vice president in the New York City Capital Markets--Finance Group. Mr. Lawrence was previously co-founder of the commercial real estate consulting practice at Sandier O'Neill & ...
Royal Properties, Inc. is pleased to announce that they have been selected to sell two properties on Route 59 in Ossining, New York.(Agents)
Jun 04, 2008 ... Royal Properties, Inc. is pleased to announce that they have been selected to sell two properties on Route 59 in Ossining, New York. 145 North Highland Avenue is a 6,800 s/f office building overlooking the Hudson River. This 3/4 acre lot is situated on heavily traveled Route 9 near Route ...
Massey Knakal Realty Services is pleased to announce that it has been retained on an exclusive basis to sell 533-35 West 24th Street--a six-story commercial loft building in the heart of the West Chelsea gallery district.(Agents)
Jun 04, 2008 ... Massey Knakal Realty Services is pleased to announce that it has been retained on an exclusive basis to sell 533-35 West 24th Street--a six-story commercial loft building in the heart of the West Chelsea gallery district. The asking price is $36,500,000. 533-35 West 24th Street boasts ...
Mark Zborovsky.(Sales)(Brief article)
Jun 04, 2008 ... Mark Zborovsky has just closed on a bulk sale of 75 unsold sponsor units in Kew Village Estates, a large and beautiful 423 unit co-op corporation in Kew gardens Hills, Queens. The price of the block under $6 million was slightly under 40% of the blocks' Vacant Market Value--a latest record ...
Gerber/Somma Associates has closed the sale of the River's Bend apartments in Riverside, N.J.(Sales)
Jun 04, 2008 ... Gerber/Somma Associates has closed the sale of the River's Bend apartments in Riverside, N.J. Built during the early 1900s and long considered a modern landmark, the 18-unit brick apartment project sits on a corner plot opposite the NJ Transit Light Rail line. The seller was represented by ...
Schettino just scratching surface of Harlem market.(PROFILE OF THE WEEK: Jeffrey Schettino, vice president, Giscombe Realty, LLC)
Jun 04, 2008; ... Ten years ago, brokers were considered off their rockers for clamoring to Harlem, but now it's a market where agents are catapulting their careers to the next level. And for Jeffrey Schettino, vice president of Giscombe Realty, the best is yet to come. Schettino, who has worked ...
Around town: events seminars meetings talks.(Calendar)
Jun 04, 2008 ... NYU Course New York University's Real Estate Institute (REI) offers the current 45-hour real estate salesperson's course and, as of July 2008, will offer the new 75-hour course. In addition, NYU REI will have a complete range of courses to help current brokers and salespeople ...
McSam Hotel Group buys 6 Water Street for $56m.
Jun 04, 2008 ... One of Lower Manhattan's most delectable development sites--6 Water Street aka 32-38 Pearl Street--has been acquired byone of New York City's most active hotel developers, McSam Hotel Group, LLC led by Sam Chang. An Eastern Consolidated team orchestrated the transaction: ...
Midtown south office building sold.
Jun 04, 2008 ... A commercial loft building located at 29 W. 36th Street has just traded for $29 million to Broadway 36th Realty LLC, local investors in the textile industry. Eastern Consolidated's vice chairman Brian Ezratty with vice president, Financial Services Scott Ellard both represented ...
Film firm at 435 Hudson.
Jun 04, 2008 ... Epoch Films, a leading film production company, will be relocating its New York headquarters to Trinity's 435 Hudson Street, bringing the nine-story, 265,360 s/f building to 100% occupancy. Epoch Films will occupy 15,000 s/f on the fourth floor of ...
Former VP likes green Durst tower.
Jun 04, 2008 ... As REW previously reported, CB Richard Ellis has arranged a 10-year, 5,500 s/f lease in the Bank of America Tower at One Bryant Park for Generation Investment Management, an investment management firm co-founded and chaired by former United States vice president AI Gore. "New ...
Fishman & Moskowitz form ID Real Estate Partners.
Jun 04, 2008 ... [ILLUSTRATION OMITTED] Ira Z. Fishman and Dana L. Moskowitz are pleased to announce the formation of a new company, ID Real Estate Partners, LLC. The firm will specialize in the acquisition and leasing of commercial real estate in Manhattan. Mr. Fishman serves as President and ...
W'chester office market remaining steady.
Jun 04, 2008 ... Vacancy and absorption rates for Westchester County are holding steady, according to Jeffrey H. Newman, executive vice president of W&M Properties. "We have a widely diversified user base in Westchester, with several business sectors well positioned to weather any pause in the ...
Investor op in Corona.
Jun 04, 2008 ... Marcus & Millichap Real Estate Investment Services has retained the exclusive listing for an 84,100-square foot industrial building in Corona. The listing price of $14.25 million represents $169 per square foot. Peter Vassiliou, a senior associate in the Manhattan office of ...
CBRE marketing Yonkers prize.
Jun 04, 2008 ... CB Richard Ellis, Inc. has been named the exclusive sales agent for 630 Central Park Avenue in Yonkers, NY. Vice president Budd Wiesenberg, executive vice president William Cuddy and senior vice president Al Mirin will market the two-story, 201,000 s/f industrial property on ...
Cushman & Wakefield tapped for Taconic lease.
Jun 04, 2008 ... Cushman & Wakefield announced its appointment as exclusive leasing agent for Taconic Corporate Park at 2651 Strang Boulevard in Yorktown Heights, NY. There are 100,000 s/f of dividable space available for lease on the first floor of the 145,000 s/f mixed-use building ....
London still world's most expensive office market.
Jun 04, 2008 ... London's West End is once again the world's most expensive office market, while rapidly rising Moscow climbed to second place, according to CB Richard Ellis Group, Inc. (CBRE) Research's semi-annual Global Market Rents survey. The report tracks world markets with the highest as ...
Pictured at a recent luncheon meeting hosted by the Associated Builders and Owners of Greater NY.
Jun 04, 2008 ... [ILLUSTRATION OMITTED] Caption: Pictured at a recent luncheon meeting hosted by the Associated Builders and Owners of ...
CB Richard Ellis announced that it arranged a 10-year, 5,500 s/f lease in the Bank of America Tower at One Bryant Park for Generation Investment Management, an investment management firm co-founded and chaired by former United States vice president Al Gore.(New York)
Jun 04, 2008 ... CB Richard Ellis announced that it arranged a 10-year, 5,500 s/f lease in the Bank of America Tower at One Bryant Park for Generation Investment Management, an investment management firm co-founded and chaired by former United States vice president Al Gore. Ken Rapp, executive vice ...
Cushman & Wakefield announced that HCL America Inc. signed a lease to occupy 9,100 s/f at 1393 Veterans Memorial Highway, a 153,000 s/f office building located in Hauppauge, N.Y.(New York)
Jun 04, 2008 ... Cushman & Wakefield announced that HCL America Inc. signed a lease to occupy 9,100 s/f at 1393 Veterans Memorial Highway, a 153,000 s/f office building located in Hauppauge, N.Y. HCL America, a consulting and IT services company headquartered in Sunnyvale, Calif., will move ...
John Schiliro of the Kaufman Organization recently brokered a two-year, 2,500 s/f lease at 160 Madison Avenue for Tripology, a leading travel Web site.(New York)(Website overview)
Jun 04, 2008 ... John Schiliro of the Kaufman Organization recently brokered a two-year, 2,500 s/f lease at 160 Madison Avenue for Tripology, a leading travel Web site. The company, co-founded by Chinedu Echeruo, who is also the CEO and founder of the online public transit guide ...
Lehigh Norwalk, LLC announced several lease deals at 83 East Avenue, Norwalk, taking the building to 92% occupancy.(Connecticut)
Jun 04, 2008 ... Lehigh Norwalk, LLC announced several lease deals at 83 East Avenue, Norwalk, taking the building to 92% occupancy. Bill Leopold, of WFL Real Estate, represented the landlord in all four transactions. * Martin Perlin, MD, leased 1,079 s/f on the first floor. He was represented ...
Plaza West, a 90,000 s/f, Class A office building on Mill Plain Road in Danbury, Conn., has signed five new leases and renewed four others and is now at 95% occupancy.(Connecticut)
Jun 04, 2008 ... Plaza West, a 90,000 s/f, Class A office building on Mill Plain Road in Danbury, Conn., has signed five new leases and renewed four others and is now at 95% occupancy. Lemle Danbury, LLC represented itself on all 10 transactions. There is currently only 3,881 s/f left to lease to bring the ...
Febbraio Group, a CBC affiliate based in Fairfield, represented PFS Associates in the lease of 2,250 s/f of retail space to Hudson Valley Bank at 2000 Post Road.(Connecticut)
Jun 04, 2008 ... Febbraio Group, a CBC affiliate based in Fairfield, represented PFS Associates in the lease of 2,250 s/f of retail space to Hudson Valley Bank at 2000 Post Road. The 10-year ...
CBRE Capital Markets' $800m Duke trump card.
Jun 04, 2008 ... CB Richard Ellis announced the role of its CBRE Capital Markets Group as equity placement agent for Duke Realty Corporation's previously announced joint venture with CB Richard Ellis Realty Trust. The new venture will ultimately include the acquisition of up to $800 million of ...
Paul, Hastings reps APL in largest ever single asset sale in history.
Jun 04, 2008 ... Paul, Hastings, Janofsky & Walker LLP announced that the firm has represented Asia Pacific Land (APL) as purchaser in the largest ever single asset real estate deal in PRC history. The firm assisted APL in the financial close of the acquisition of The Center, a Shanghai trophy ...
Realty Foundation of New York salutes Dale Hemmerdinger.
Jun 04, 2008 ... [ILLUSTRATIONS OMITTED] On May 15th, the Grand Ballroom at the Waldorf Astoria was the place to be. The Realty Foundation held its annual luncheon saluting Dale Hemmerdinger, Executive Vice President of the Foundation, and a very animated crowd gathered to salute this special ...
Carlton to arrange $350m deal for Dubai development.(FINANCE)(Carlton Advisory Services Inc.)(Brief article)
Jun 04, 2008 ... Carlton Advisory Services' Chairman Howard L. Michaels announced that Carlton has been retained on an exclusive basis by GPD Investments LLC, an independent development company based in London and Dubai, to arrange $350,000,000 of equity for a land acquisition and project development ...
CBRE closes $47m refi for PA property.(FINANCE)
Jun 04, 2008 ... Executive vice president Keith Braddish and vice president Jason Gaccione, both of CBRE Capital Markets, New York City, in conjunction with vice president Jamie Sharer and vice president Chris Sheedy of CBRE Capital Markets, Pittsburgh, PA., have arranged $47 million to facilitate the ...
NCB reports $21m in April financing deals.(FINANCE)(National Cooperative Bank)(Brief article)
Jun 04, 2008 ... NCB originated over $21 million in financing in April for 12 New York area properties. The financings included $15 million in mortgages and $6.4 million in lines of credit. Edward Howe III, managing director of the NCB New York office, made the announcement. "April's financing ...
CBRE beefs up valuation and advisory platform.(FINANCE)(CB Richard Ellis Group, Inc)(Brief article)
Jun 04, 2008 ... CB Richard Ellis Group, Inc. announced the launch of its Financial & Tax Reporting Services practice within the Valuation & Advisory Services Group, a new initiative that provides clients with a comprehensive array of services to help their financial reporting and transparency ...
Securities JV for Praedium & Alpha.(FINANCE)(joint venture)(Alpha Equity Management LLC)(Brief article)
Jun 04, 2008 ... Alpha Equity Management, LLC and The Praedium Group LLC have announced a joint venture to manage and develop investment products focused on publicly-traded real estate securities. The joint venture draws on Alpha Equity's securities investment experience and established ...
Johnson is CBC's new ally.(FINANCE)(Johnson Capital Group)(Coldwell Banker Commercial Real Estate Services Inc.)
Jun 04, 2008 ... Coldwell Banker Commercial has announced a strategic alliance with commercial lender Johnson Capital, allowing the company's affiliates to gain access to customized financing options through a prominent lending organization for the first time. Johnson Capital will provide CBC ...
Meridian.(FINANCE)(Brief article)
Jun 04, 2008 ... Meridian is pleased to announce the following transactions: * A new mortgage of $15,000,000 was placed by Meridian on an office building on West 40th Street in New York. The loan featured a rate of 5.88% and a 10-year term. The transaction was negotiated by Yossi Taub and Abe ...
The Community Preservation Corporation (CPC).(FINANCE)
Jun 04, 2008 ... The Community Preservation Corporation (CPC) is pleased to announce the following transactions: * CPC closed on a permanent loan for $2,475,000 for the moderate rehab of a vacant five-story building containing 26 rental apartments, located in Crotona. * A $7,235,738 ...
Pergolis Swartz Associates, Inc.(FINANCE)
Jun 04, 2008 ... Pergolis Swartz Associates, Inc. is pleased to announce the following transactions: * Michael Volpe arranged a construction loan in the amount of $2,200,000 for a to be built five story residential apartment building containing eight units located on 135th Street in Briarwood, ...
Housing lender closes on Freddie Mac loans.(FINANCE)
Jun 04, 2008 ... The Community Preservation Corporation (CPC), a non-profit affordable housing lender, has closed on two Freddie Mac loans in Manhattan totaling $2.27 million for the permanent financing of 59 affordable housing units in six renovated, three-to-five-story walk-up apartment buildings in ...
Merrill to partner with MaxCap to invest in Brazil.(FINANCE)
Jun 04, 2008 ... MaxCap Real Estate Investment Advisors and Merrill Lynch have formed a joint venture to invest in real estate throughout Brazil. The joint venture will acquire and develop properties in a diversified range of real estate sectors. The partnership combines the local expertise and ...
PalFi is named manager of year.(FINANCE)(Palisades Financial)(Brief article)
Jun 04, 2008 ... Palisades Financial, a real estate investment banking and advisory firm headquartered in Fort Lee, N.J., was named Real Estate Manager of the Year at the Emerging Managers Summit and Awards Luncheon, sponsored by Opal Financial Group. The conference, held annually in Chicago, ...
Xanadu's delay one of several concerns so far.
Jun 04, 2008; ... From a developer change to scathing criticism over its aesthetics to the recent downturn in the economy, Meadowlands Xanadu has experienced its share of turbulence. Adding to that list recently was news that the opening of the 2.3 million s/f mega-complex will be delayed, from ...
Permit numbers drop.
Jun 04, 2008; ... The 51% year-over-year drop in residential permits issued in New York City is just another sign of the post-subprime times. "It's a very accurate, significant reflection of a marketplace that has lost its incentive for beginning new residential projects," said Andy Singer, ...
Officials promise progress for Hudson River piers 57 and 40.
Jun 04, 2008; ... The Hudson River Park Trust will be seeking new proposals for the development of Pier 57 soon, while a final agreement for the Pier 40 project could be merely weeks away, officials said. The announcement was made last week during a media briefing that coincided with the trust's ...
City's self-certification program under attack.
Jun 04, 2008; ... New York City's Department of Buildings wound up with egg on its face again recently when a report revealed flaws with the vast majority of plans under the self-certification program. More than 8 in 10 such plans checked between Sept. 17 and Jan. 31 had zoning violations, the New York Post ...
The Young Mortgage Bankers Association held its Going Green: Eco-Friendly Trends in Real Estate luncheon recently.
Jun 04, 2008 ... [ILLUSTRATION OMITTED] The Young Mortgage Bankers Association held its Going Green: Eco-Friendly Trends in Real Estate luncheon recently. Seate (l to r) are: Evan Hakalir, JPS Capital Partners; Marc Heisterkamp, U.S. Green Building Council; Russell Albanese, The Albanese ...
District at 111 Fulton St. project almost complete.
Jun 04, 2008 ... As one of the most anticipated new residential projects in downtown Manhattan, District at 111 Fulton Street, an imaginatively renovated former Financial District office building, is approaching the punch-list phase and the new residents are preparing to move into their dazzling ...
Lauth unveils sketch for Milwaukee development.(Brief article)
Jun 04, 2008 ... [ILLUSTRATION OMITTED] Lauth recently released a draft conceptual sketch of its proposed retail/entertainment project adjacent to the Milwaukee's Bradley Center, home of the NBA's Milwaukee Bucks, Marquette University Basketball, AHL's Milwaukee Admirals, concerts and other ...
Ground broken for city's largest auto-parking garage.
Jun 04, 2008 ... A.P.T. Parking Technologies, together with Westfalia Technologies, broke ground recently for New York City's largest automated parking garage project, a 270-car facility to be part of a new nine-story, 226,000 square-foot office building being developed by Baruch Singer at 1504 Coney ...
Whispering green: Walters begins eco-friendly project.
Jun 04, 2008 ... [ILLUSTRATION OMITTED] Waiters Homes has broken ground on Whispering Hills, an eco-friendly residential community situated on 85 acres on Rose Hill Road, between Barnegat Avenue and Route 9 in Barnegat, NJ. The development will ultimately include 258 units, consisting ...
IBEX starts Fox 5 makeover.(IBEX Construction )(Brief article)
Jun 04, 2008 ... IBEX Construction (IBEX), a New York-based firm specializing in high-end retail, corporate and commercial projects, has begun a makeover of Fox 5's studio on Manhattan's Upper East Side. The 6,000 s/f HDTV equipment and corporate interiors project will create a new data center, ...