Real Estate Weekly back issues from July 2008:
Global investment sales take a nosedive.
Jul 02, 2008; ... When real estate analysts were asked six months ago whether the U.S. credit squeeze would impact the rest of the world, they said the question wasn't if there would be an effect but where and how much. Now, a CB Richard Ellis report shows investment sales suffering worldwide. ...
Acting Commissioner of the New York City Department of Buildings, Robert LiMandri together with the board members of the Associated Builders and Owners of Greater New York president Jerome Belson and co-chairman Arnold Sollar kicked off BuildingsNY 2008, the largest annual real estate trade show on the East Coast.
Jul 02, 2008 ... [ILLUSTRATION OMITTED] Caption: Acting Commissioner of the New York City Department of Buildings, Robert LiMandri (center) together with the board members of the Associated Builders and Owners of Greater New York president Jerome Belson (left) and co-chairman Arnold Sollar ...
JP Morgan dumps Bear Stearns space.
Jul 02, 2008; ... JPMorgan Chase is beginning its long expected divestment of office space on Park Avenue brokers say, most of it square feet it inherited from Bear Steams when it acquired that company in an emergency acquisition orchestrated by U.S. financial regulators to stave off Bear's imminent ...
PA officials admit to WTC delays.(Port Authority)(World Trade Center)
Jul 02, 2008; ... Port Authority officials admitted at the agency's board meeting on Monday that they don't have a handle on how much the World Trade Center site will cost to redevelop or when the various construction projects on the site will be completed. While authority executives had in ...
Shorenstein buying 450 Lexington loans.
Jul 02, 2008; ... Shorenstein Properties announced that it is acquiring two mezzanine loans totaling $250 million for 450 Lexington Avenue. The deal comes just a few weeks after the San Francisco based real estate investment firm paid $930 million for 850 Third Avenue and Park Avenue Tower, ...
Boston Properties set to re-name Citigroup.
Jul 02, 2008; ... With Citigroup making quiet moves to dump a chunk of the 18 or so floors it occupies at the landmark midtown tower 153 East 53rd Street, the building's owner, Boston Properties, is planning to drop the tower's oft used name, Citigroup Center, in a bid to distance it from its namesake ...
Universal Music adds new space.
Jul 02, 2008; ... Universal Music Group has taken a 5,300 s/f lease at 581 Avenue of the Americas for a new management group it is creating. Broker Erik Nissani handled the deal for Universal, who gravitated to the space because it was already built out and came with relatively inexpensive rents ...
Economy not as bad as it seems, says bureau.(Brief article)
Jul 02, 2008; ... The economy wasn't as bad as it first seemed in the first quarter. The Bureau of Economic Analysis released its final data for GDP growth for the first three months of the year last week and found that it registered at 1%, above its preliminary estimate of 0.9%. Well look at it ...
On behalf of a private investment group led by Nathan Halegua and Marty Newman, Rosewood Realty Group has arranged the sale of 308-40 West 49th Street to The Orbach Group.
Jul 02, 2008 ... On behalf of a private investment group led by Nathan Halegua and Marty Newman, Rosewood Realty Group has arranged the sale of 308-40 West 49th Street to The Orbach Group. Aaron Jungreis, President of Rosewood Realty successfully brokered this transaction for $70 million. Mr ....
Real estate full of eastern promise, says ULI report.
Jul 02, 2008; ... For real estate professionals looking for the next big thing, the Urban Land Institute has two words: Go East. A 2008 Global Demographics report states that rapidly growing markets in Asia, Africa and the Middle East will present the greatest demand for real estate ...
ING Real Estate.(WHO'S NEWS)
Jul 02, 2008 ... ING Real Estate is pleased to announce the appointment of Wilson Lee to its growing global opportunistic investment platform as European managing director and portfolio manager. Mr Lee recently joined this business to develop strategies to achieve opportunistic returns through real estate ...
Massey Knakal.(WHO'S NEWS)(appointment of Mitchell Levine at Massey Knakal Realty Services Inc.)(Brief article)
Jul 02, 2008 ... Massey Knakal is pleased to announce that Mitchell Levine has joined the Manhattan office as a real estate analyst for partner/managing director James Nelson, who exclusively covers Greenwich Village. A graduate of Syracuse University, he is currently completing his Master's degree in Real ...
Piedmont Office Realty Trust, Inc.(WHO'S NEWS)
Jul 02, 2008 ... Piedmont Office Realty Trust, Inc. announced the appointment of Frank C. McDowell as an independent director of the company, increasing the board to seven members. Mr. McDowell is a veteran of the real estate industry, most recently having served as president, chief executive officer and ...
Denholtz Associates.(WHO'S NEWS)
Jul 02, 2008 ... Denholtz Associates has announced the appointment of Stephen Cassidy as president. Cassidy will be responsible for running the day-to-day operations of the company having formerly served as its chief financial officer. Steven Denholtz will remain as chief executive officer and will focus ...
Mission Capital Advisors, LLC.(WHO'S NEWS)(appointment of Luis Vergara)(Brief article)
Jul 02, 2008 ... Mission Capital Advisors, LLC announced that Luis Vergara has been promoted to director of sales and trading. Vergara's responsibilities include sourcing and trading portfolios of residential and commercial mortgage loans and real estate owned assets. He also engages in valuing portfolios, ...
CresaPartners.(WHO'S NEWS)(Keith Keppler and Kent Holliday are appointed)(Brief article)
Jul 02, 2008 ... Keith Keppler and Kent Holliday have joined CresaPartners, a multi national real estate advisory firm, as principals in its New York office. Keppler and Holliday, former principals at Horizon, LLC, will play active roles in the firm's national integrated services team. * Mr ....
Capstone Equities.(WHO'S NEWS)
Jul 02, 2008 ... Capstone Equities announced that two experienced real estate professionals have recently joined the firm. They join Steven Grin, who has been at Capstone since inception working with the principals. Joining Capstone are John Rhim as vice president of acquisitions and Jonathan Seheinberg as ...
CB Richard Ellis Group, Inc.(WHO'S NEWS)
Jul 02, 2008 ... CB Richard Ellis Group, Inc. has named David Gialanella as executive vice president of enterprise and transaction services for the company's Global Corporate Services business. Mr. Gialanella joined CB Richard Ellis in 2005 and most recently served as executive vice president, Americas ...
Mitsui Fudosan America, Inc.(WHO'S NEWS)
Jul 02, 2008 ... Mitsui Fudosan America, Inc. announced the appointment of Christopher N. Perez as senior vice president. Mr. Perez joined MFA as assistant director of Property Management in 1988, and brings more than 20 years of experience in commercial real estate leasing, asset management and investment ...
Massey Knakal Realty Services is pleased to announce that it has been retained on an exclusive basis to sell the JFK Office Building--a nine-story property in Jersey City, N.J.(Agents)
Jul 02, 2008 ... Massey Knakal Realty Services is pleased to announce that it has been retained on an exclusive basis to sell the JFK Office Building--a nine-story property in Jersey City, N.J. The asking price is $14,500,000. The JFK Building has 55,000 s/f, plus an additional 23,529 s/f of ...
Itzhaki Properties has announced that Ami Efrati, sales associate, has the exclusive right to represent a three building package in Bedford Park, Bronx.(Agents)
Jul 02, 2008 ... Itzhaki Properties has announced that Ami Efrati, sales associate, has the exclusive right to represent a three building package in Bedford Park, Bronx. The three properties are located at 2608, 2616 and 2846 Briggs Avenue. These 5 story walk-up buildings consist of 41 ...
Marcus & Millichap Real Estate Investment Services.(Sales)
Jul 02, 2008 ... Marcus & Millichap Real Estate Investment Services is pleased to announce the following transactions: * The closing of a single-tenant industrial building in Lancaster, Pa. for $5,650,000 at a Cap Rate of 7.40%. David Thurston, director, NOIPG and Net Lease Group, represented ...
The Kislak Company, Inc. completed the $6.750 million sale of Station Plaza, a 27,200 s/f strip center in Dunellen, N.J.(Sales)
Jul 02, 2008 ... The Kislak Company, Inc. completed the $6.750 million sale of Station Plaza, a 27,200 s/f strip center in Dunellen, N.J. Vice ...
Terzulli targets some of nation's top retail tenants.(PROFILE OF THE WEEK: Frank Terzulli, executive vice president, Winick Realty Group)
Jul 02, 2008; ... Frank Terzulli, executive vice president of Winick Realty Group, helped launch the firm as a founding partner of the company two decades ago. Now he's a mainstay at a brokerage swiftly rising up the retail ranks. Terzulli, a New York native, grew up in a family that owned real ...
Marketing firm takes 98,175 s/f at 11 Madison.
Jul 02, 2008 ... The Sapir Organization today announced that WPP's Enfatico, the global marketing services firm being built from the ground up with Dell Inc. as its first client, has signed a 98,175 s/f ease at 11 Madison Avenue to serve as the firm's worldwide headquarters. "It is wonderful ...
Adams deal done for star designer.(Adams & Co. Real Estate)(Angel Sanchez)(Brief article)
Jul 02, 2008 ... Adams & Co. Real Estate recently brokered a 10-year, 7,200 s/f lease at 148 W. 37th St. for couture fashion company Angel Sanchez. A new showroom installation will be built for the exclusive showroom, office and design space, which will serve as the company's New York headquarters. ...
Argo inks loft lease.
Jul 02, 2008 ... Rock Paper Scissors and Peepshow Post Productions, Inc., two independently-owned post production companies working from Santa Monica, have leased a 6,600 s/f full-floor loft space at 50 West 17th Street, a commercial loft building owned and managed by The Argo Corporation. Representing the ...
Around town: events seminars meetings talks.(Calendar)
Jul 02, 2008 ... Extell Entertainment July 13: Riverside South, Extell Development Company's luxury development on the Upper West Side, is once again the exclusive sponsor of Acoustic Sundays and Movies Under the Stars as part of the City of New York Parks & Recreation's annual Summer on the ...
Statuto signs its first tenant at bank building.(Union Central Life Insurance Co.)(Brief article)
Jul 02, 2008 ... CB Richard Ellis arranged a 10-year, 8,844 s/f lease at 960 Avenue of the Americas--formerly known as the Atlantic Bank Building--on behalf of the landlord, Italian real estate firm Statuto Group. Cincinnati-based Union Central Life Insurance Company, the building's first new ...
White Plains office deal inked ahead of re-shuffle.
Jul 02, 2008 ... GHP Office Realty, LLC, an owner and manager of office properties throughout the New York metropolitan area, announced that it has leased 27,000 s/f of class A office space at 4 Red Oak Lane, WHite Plains. Schwartzberg Companies, a nursing home management and investment firm, ...
UK office provider leases 40,000 s/f.
Jul 02, 2008 ... CB Richard Ellis announced today that it arranged a 15-year, 39,864 s/f lease at 1501 Broadway on behalf of London-based The Regus Group, which operates full-service business centers worldwide. Paramount Leasehold is the landlord and the asking rent was $69 psf. ...
The Staubach Company's New York office recently assisted Hulu LLC with a new 3-year lease transaction for 2,110 s/f at 276 Fifth Avenue.(New York)
Jul 02, 2008 ... The Staubach Company's New York office recently assisted Hulu LLC with a new 3-year lease transaction for 2,110 s/f at 276 Fifth Avenue. Separately, The Staubach Co. also negotiated an expansion for Hardesty & Hanover for 2,193 s/f at 59 Elm Street in New Haven, Conn. Eric Thomas, ...
Winoker Realty has brokered a lease with CoBe Capital to relocate to 708 Third Avenue.(New York)
Jul 02, 2008 ... Winoker Realty has brokered a lease with CoBe Capital to relocate to 708 Third Avenue. The firm, a financial service company, signed a five-year lease for a 1,575 s/f space on a portion of the 31st ...
Cohen and Company Inc. Real Estate.(New Jersey)
Jul 02, 2008 ... Cohen and Company Inc. Real Estate (CCIRE) is pleased to announce that the Plaza 12 Shopping Center located at 835 Roosevelt Avenue in Carteret, N.J. has reached 100% occupancy with the completion of the following new retail-space leases: * Rebecca Metzger, director of leasing ...
NAI James E. Hanson finalized the lease of 2,065 s/f of office space at 505 Thornall Street in Edison, New Jersey.(New Jersey)
Jul 02, 2008 ... NAI James E. Hanson finalized the lease of 2,065 s/f of office space at 505 Thornall Street in Edison, New Jersey. NAI Hanson's senior vice president Robert ...
Party Stop, a party supply retailer, has leased 3,600 s/f at Oak Park Commons in South Plainfield, N.J.(New Jersey)
Jul 02, 2008 ... Party Stop, a party supply retailer, has leased 3,600 s/f at Oak Park Commons in South Plainfield, N.J. The 137,000 s/f Oak Park is anchored by a ...
Broad Street completes more than 100,000 s/f of leasing.(LEASES)
Jul 02, 2008 ... Broad Street Development (BSD), is pleased to announce a stellar year to date, signing more than 100,000 s/f in new leases and expansions at the firm's Manhattan office buildings. David Israni, Managing Director of BSD said, "Tenants are clearly drawn to the recently-completed ...
CBS Outdoor stays put with long-term lease.(LEASES)
Jul 02, 2008 ... The Sudler Companies, one of New Jersey's oldest real estate developers, recently announced that CBS Outdoor has renewed a long-term leasing agreement at Sudler's Corporate Park property in Lakewood. CBS Outdoor has been a loyal tenant at the property since 1989. The company is the sole ...
Winick marketing 100,000 s/f west side retail site.(RETAIL)(Winick Realty Group)(Brief article)
Jul 02, 2008 ... Winick Realty Grouphas been appointed exclusive leasing agent for up to 100,000 s/f of retail space at 605 West 42nd Street, east of 11th Avenue in Manhattan's West Side. The project is the second phase of The Moinian Group's 42nd Street Development, which was designed in close ...
PDE team tapped to market luxury space in Meatpacking Dist.(RETAIL)(Prudential Douglas Elliman Real Estate)(Faith Hope Consolo)(Joseph A. Aquino)(Brief article)
Jul 02, 2008 ... The retail team of Faith Hope Consolo, chairman, and Joseph A. Aquino, executive vice president of Prudential Douglas Elliman's Retail Leasing and Sales Division has been tapped to exclusively market a pair of stores strategically located in Manhattan's hot Meatpacking District at 344-46 ...
Warburg named exclusive agent to lease downtown storefront op.(RETAIL)
Jul 02, 2008 ... Warburg Marketing Group, a division of Warburg Realty Partnership, has been appointed the exclusive leasing agent for the retail space at 127 Fulton Street, offering high-end retailers a new storefront opportunity in this increasingly popular Downtown Manhattan neighborhood. ...
GMAC promises Chinatown site is one you can bank on.(RETAIL)(GMAC Real Estate International Properties Group)(Brief article)
Jul 02, 2008 ... GMAC Real Estate International Properties Group is marketing 17 Chatham in Chinatown, one of the latest available real estate gems in New York GMAC believes a bank would benefit from both the neighborhood and the business. The building's distinctive architectural design makes ...
Diamond deal.(RETAIL)(Brief article)
Jul 02, 2008 ... Winoker Realty Company Inc. found the right spot for Design Trends which signed a five-year lease for a 1,238 s/f space at 2 West 46th Street in Midtown. Its new location is several blocks north of its current home, 516 Fifth Ave., and brought them closer to the neighboring ...
REBNY celebrates passage of crucial real estate bills.
Jul 02, 2008 ... The Real Estate Board of New York (REBNY) was actively involved in the passage of two crucial bills that recently became law. The New York State Legislature passed, and the Governor signed, a bill that extends the cooperative and condominium real property tax abatement for four years. ...
CRESA announces Horizon merger.(CRESA Partners L.L.C.)(Brief article)
Jul 02, 2008 ... CresaPartners, one of the nation's leading corporate real estate advisory firm that exclusively represents tenants, and Horizon, LLC, a solutions-based real estate consultancy, have joined together to provide strategic planning and facilities consulting to tenants in the New York region, ...
WBE pioneer, Pulice shares path to success.
Jul 02, 2008 ... [ILLUSTRATION OMITTED] Jodi Pulice, founder and president of JRT Realty Group, Inc., recently shared her firm's path to success as the nation's largest certified woman-owned business enterprise (WBE) in commercial real estate at the annual Women Presidents Educational ...
Broadway broadcasts $131M One City Centre sale.(NATIONAL)
Jul 02, 2008 ... HOUSTON: Broadway Partners, a national private real estate investment and management firm headquartered in New York, announced that it has completed the sale of Houston's One City Centre to Behringer Harvard REIT I, Inc. for $131 million. Upon taking ownership of the Class A ...
Barcelo Crestline acquires 17 hotel portfolio.(NATIONAL)
Jul 02, 2008 ... VIRGINIA BEACH, VA: Barcelo Crestline Corporation, the parent company of Crestline Hotels & Resorts, Inc. and one of the leading hotel management and leasing companies in North America, announced the acquisition of certain assets of Tidewater Hotels & Resorts, Inc. of Virginia Beach, Va. ...
Newmark expands with new Beantown retail division.(NATIONAL)(Newmark Knight Frank)(Brief article)
Jul 02, 2008 ... BOSTON: Moving to capitalize upon emerging opportunities in this New England city's retail marketplace, Newmark Knight Frank has launched a new retail brokerage division in its Boston office, hiring retail brokerage veteran Joe Pierik to head up the new operation. The initial ...
Firm ready to raise the roof on its San Fran site.(NATIONAL)(San Francisco)(Broadway Partners)(Brief article)
Jul 02, 2008 ... SAN FRANCISCO: Broadway Partners, a national private real estate investment and management firm headquartered in New York, unveiled plans for the redevelopment of a San Francisco office building--a project that will create a block of nearly 150,000 s/f of available space at one of the ...
Firm to upgrade historic Hacienda.(NATIONAL)
Jul 02, 2008 ... SAN DIEGO: Cardinal Investments recently acquired the project located at 12625 High Bluff Drive, in San Diego, Calif. Located in the Del Mar Heights submarket, this three-story hacienda-style office building is a unique gem. Formerly known as Hacienda San Dieguito, the historic building ...
JV heads Princeton Lakes project.(NATIONAL)
Jul 02, 2008 ... ATLANTA: Perseus Realty Partners, L.L.C. (PRP) announced it has formed a joint venture with Hathaway Properties, Inc. to develop Ansley at Princeton Lakes, the firm's first investment on behalf of PRP II, L.P. A diversified middle market real estate opportunity fund, PRP II, L.P. has made ...
Jones Lang LaSalle to find anchor for new Rockrose building.
Jul 02, 2008 ... Jones Lang LaSalle was selected by Rockrose Development Corp. to lease its planned 800,000 s/f 10 Court Square development in Long Island City, N.Y. The building owner will be represented by Peter Riguardi, president of Jones Lang LaSalle's New York office, along with Frank ...
C&W marketing 200,000 s/f in Garden City.
Jul 02, 2008 ... Cushman & Wakefield announced its appointment by AVR Realty to serve as exclusive leasing agent for 711 Stewart Avenue, a 350,000 s/f property located in Garden City. With up to 200,000 s/f of available space, 711 Stewart Avenue offers one of the largest contiguous blocks of ...
LIC site ideal for access.(Brief article)
Jul 02, 2008 ... Sholom & Zuekerbrot Realty LLC has been named exclusive agent for a 36,000 s/f industrial property in the Long Island City section of Queens, according to S&Z chairman Sanford Zuckerbrot. The two-story building, at 47-55 37th Avenue, has 18-foot ceilings on each floor, an ...
Pictured at the annual New York University NYUvu event.
Jul 02, 2008; ... [ILLUSTRATION OMITTED] Caption: Pictured at the annual New York University NYUvu event are, I-r: Charles Bagli of The New York Times, Steven Spinola, REBNY, Denise Warren of The New York Times ...
Joe O'Carroll and Andy McEvoy of the NYPD's Emerald Society Pipes & Drums, welcome Bank of Scotland employees.
Jul 02, 2008 ... [ILLUSTRATION OMITTED] Caption: Joe O'Carroll and Andy McEvoy of the NYPD's Emerald Society Pipes ...
Vornado purchases SoHo building.
Jul 02, 2008 ... Vornado Realty Trust is the buyer of two adjacent four-story retail/office properties located at 148-150 Spring Street, the thoroughfare considered to be SoHo's Madison Avenue. Eastern Consolidated's Executive Managing Directors Eric Michael Anton and Ronald A. Solarz with ...
Buyer investing in Harlem 'land bank'.
Jul 02, 2008 ... Massey Knakal's Shimon Shkury announced that his Northern Manhattan team has sold one of East Harlem's largest development sites at 228-238 East 117th Street, between Second and Third Avenues, for $6.4 million. With 125 feet of frontage and R7A zoning, the site features about ...
Doctor in the house.
Jul 02, 2008 ... Seth G. Weinstein, Principal of Hannah Real Estate Investors, the Stamford based property development and investment company, and his partners Paxton and Ray Kinol of Stillwater Investment Management and Steven Wise of Summer Partners, LLC, announced the sale of the medical condominium at ...
CB Richard Ellis buys Canadian management company.
Jul 02, 2008 ... CB Richard Ellis Group, Inc. announced the acquisition of Tempest Management Corp., one of Canada's foremost project management firms, in a move that significantly enhances CBRE's service offerings throughout the Canadian market. Tempest, with offices in Ottawa and Toronto, ...
NAI growing fast in Far East.
Jul 02, 2008 ... NAI Global, the world's premier network of commercial real estate firms and one of the largest real estate service providers worldwide, has announced palsn to enhance its services in Taiwan and China. The network announced the addition of NAI Taiwan and NAI New Space in CHina ...
Tight in Tokyo.(Brief article)
Jul 02, 2008 ... The two largest economies in the world are feeling the effects of a global economic slowdown, but the commercial real estate fundamentals in Tokyo, Japan, remain tight, while commercial properties in the United States will continue to experience rent growth, albeit at a slower pace, ...
The Association of Real Estate Women's celebration of "Three Decades of Breaking Ground," which culminated with a 30th Anniversary Gala that sold out the ballroom at the Mandarin Oriental Hotel, ......
Jul 02, 2008 ... [ILLUSTRATION OMITTED] The Association of Real Estate Women's celebration of "Three Decades of Breaking Ground," which culminated with a 30th Anniversary Gala that sold out the ballroom at the Mandarin Oriental Hotel, honored three companies for outstanding achievement and ...
Meridian.(FINANCE)(Brief article)
Jul 02, 2008 ... Meridian is pleased to announce the following transactions: A new mortgage of $9,800,000 was placed by Meridian on a 100-unit, 6-story multifamily building on Ft. Washington Avenue in New York, N.Y. The loan featured a rate of 5.77% and a 10-year term. The transaction was ...