Real Estate Weekly articles from March 2009

Real Estate Weekly back issues from March 2009:

REBNY backs tax campaign.

Mar 04, 2009; ... A trio of trade organizations--a trio that includes the Real Estate Board of New York (REBNY)--has challenged the state to reduce spending, rather than raise taxes. Calling themselves the Taxpayers for an Affordable New York (TANY), the group argues that higher income taxes ...

PBS upbeat at 414 W14th.

Mar 04, 2009; ... Few would call the sound of jack hammering music to their ears, but you might if you're a developer in these tough times. It's certainly a welcome sound for those spearheading the mixed-use project at 414 West 14th Street. The landmark project is said to be the only new space ...

Claremont eyes 100 Church for new school.(Claremont Preparatory School)

Mar 04, 2009; ... Claremont Preparatory School is contemplating a roughly 150,000 s/f lease at 100 Church Street for a new high school. Claremont currently operates a private nursery, elementary and middle school at 41 Broad Street in Lower Manhattan with an enrollment of about 800 students. ...

Anthony E. Malkin, president, W&M Properties, Wien & Malkin, and W&H properties, recently discussed "How to Keep Commercial Real Estate Strong in a Troubled Economy" at the B'nai B'rith Real Estate Unit monthly luncheon meeting at the Cornell Club in New York.

Mar 04, 2009 ... [ILLUSTRATION OMITTED] Caption: Anthony E. Malkin, president, W&M Properties, Wien & Malkin, and W&H Properties, recently discussed "How to Keep Commercial Real Estate Strong in a Troubled Economy" at the B'nai B'rith Real Estate Unit monthly luncheon meeting at the Cornell ...

Cautious AREA poised to pounce.(AREA Property Partners)

Mar 04, 2009; ... "Nine-O," Richard Mack says as he gets up and walks to a speakerphone in the conference room of his company's headquarters in the Time Warner Center. He's clarifying the 90% equity stake that his firm, AREA Property Partners, has in the building, a majority interest that can be ...

Starrett City sale is axed.

Mar 04, 2009; ... As negotiations stalled heading into 2009, many wondered whether the sale of Starrett City, the largest federally subsidized housing project in the country, remained possible. Now affordable housing advocates, bidders and tenants realize it is not--at least not in today's economy. The ...

GDP continues to deteriorate as recession's grip tightens.

Mar 04, 2009; ... Gross Domestic Product, the nation's central indicator of economic activity, fell by 6.2% in the fourth quarter of 2008 according to a report issued last week by the U.S. Department of Commerce. The drop was a significant downward revision from previous government estimates of ...

Seth Pinsky was the guest speaker at the recent luncheon meeting hosted by the Institute of Real Estate Management (IREM).

Mar 04, 2009 ... [ILLUSTRATION OMITTED] Caption: Seth Pinsky was the guest speaker at the recent luncheon meeting hosted by the Institute of Real Estate Management (IREM). Pictured l-r are: Ed Andron, ARM, ACM, ...

Dual role for Coldwell's Davidson.(Coldwell Banker Real Estate Group Inc. appointed Rick Davidson)(Brief article)

Mar 04, 2009 ... Coldwell Banker Commercial Affiliates announced that Rick Davidson, president and COO for Coldwell Banker Commercial Affiliates, will assume the additional role of chief operating officer for Coldwell Banker Real Estate, effective immediately. In his expanded role, Davidson will ...

Gov' pushes for MTA relief.

Mar 04, 2009; ... Amid growing questions about his leadership ability, Governor David Paterson released a statement last week that seemed to signal that he will push lawmakers to adopt a plan to alleviate the MTA's severe fiscal problems. Paterson said that he would meet with lawmakers to urge ...

New Jersey Real Estate Advisory Board.(WHO'S NEWS)(appointment of Seena Stein)(Brief article)

Mar 04, 2009 ... New Jersey Governor Jon Corzine has named Newmark Knight Frank principal Seena Stein to his newly created blue ribbon advisory panel known as the New Jersey Real Estate Advisory Board. Members will meet regularly and work closely with the Governor's Office of Economic Growth as well as ...

New Jersey Planning Officials.(WHO'S NEWS)

Mar 04, 2009 ... WolfBlock partner Susan Rubright has been named an associate counsel of the New Jersey Planning Officials (NJPO). Rubright will serve a three-year term. A partner in WolfBlock's Environmental and Land Use Practice Group, Rubright represents public entities in land use, real estate and ...

Marcus & Millichap Real Estate Investment Services.(WHO'S NEWS)

Mar 04, 2009 ... Greg Matus, regional manager of the Fort Lauderdale office of Marcus & Millichap Real Estate Investment Services, has announced the hiring of Thomas J. Porter, a senior associate in Marcus & Millichap's Fort Lauderdale office. Porter will concentrate in the sale of income producing ...

Cushman & Wakefield Sonnenblick Goldman.(WHO'S NEWS)

Mar 04, 2009 ... Real estate investment banking firm Cushman & Wakefield Sonnenblick Goldman (CWSG) is pleased to announce that Jeff Walker has joined the firm's Atlanta office as an associate. In his new role, Walker is ...

Cook, Hall & Hyde, Inc.(WHO'S NEWS)

Mar 04, 2009 ... Cook, Hall & Hyde, Inc. recently announced that Sean H. Griffin has joined the agency as an account executive in its commercial insurance division. Mr. Griffin brings extensive expertise in the marine industry, coupled with over six years of direct experience in insurance consulting and ...

FirstService Williams.(WHO'S NEWS)

Mar 04, 2009 ... FirstService Williams has announced the appointment of executive managing officer Jeff Schotz to head of the New Jersey office. With this new designation, all lines of operations at FirstService Williams' New Jersey office will be consolidated under Schotz' oversight. As head of the New ...

NAI Global.(WHO'S NEWS)(appointment of William C. Hanson, Robin Zellers and Kevin Fitzgerald)(Brief article)

Mar 04, 2009 ... NAI Global announced changes to the executive committee of its Members' Leadership Board and the election of four new Board Members. The NAI Members' Leadership Board is a group comprised of representatives of NAI member firms that interacts with NAI Global to provide input and develop key ...

Eastern Consolidated.(WHO'S NEWS)(appointment of Mark R. Gjonbalaj at Eastern Consolidated Properties Inc.)(Brief article)

Mar 04, 2009 ... Eastern Consolidated is pleased to announce the recent addition of Mark R. Gjonbalaj, who joins the firm as director. Mr. Gjonbalaj will act on behalf of sellers and buyers in the sale of all property types ranging from office buildings to residential properties, retail, and development ...

Carlton Advisory Services.(Agents)(South Cat Cay Properties, Ltd.)(acquisitions)(Brief article)

Mar 04, 2009 ... Carlton Advisory Services' chairman Howard L. Michaels is pleased to announce that Carlton has been exclusively engaged by South Cat Cay Properties, Ltd. to sell a majority interest in the entity that owns South Cat Cay (SCC). SCC is an easily accessible 80-acre private island in ...

Gebroe-Hammer Associates has closed two multi-family apartment transactions totaling $3.1 million for 57 units in Northeast Philadelphia.(Sales)

Mar 04, 2009 ... Gebroe-Hammer Associates has closed two multi-family apartment transactions totaling $3.1 million for 57 units in Northeast Philadelphia. Eli Rosen, senior vice president, handled the $1.85 million sale of Marsden Apartments as ...

Massey Knakal Realty Services.(Sales)

Mar 04, 2009 ... Massey Knakal Realty Services is pleased to announce the following transactions: * A four-story mixed-use building located at 7625 Fifth Avenue in Brooklyn's Bay Ridge neighborhood sold in an all cash transaction valued at $1,450,000. This 6,720 s/f building has three commercial ...

For med space, agent is just what the doc ordered: Dr. Jeffrey Tanenbaum, vice president, Barak Realty.(PROFILE OF THE WEEK)

Mar 04, 2009; ... It takes one to know one. And that's why Dr. Jeffrey Tanenbaum, vice president at Barak Realty continues to thrive in his niche of brokering medical space transactions throughout the city. After spending several years cultivating one of the largest medical practices in Houston, he's ...

Around the town.(Calendar)

Mar 04, 2009 ... Appraisal Course Mar. 4: The Metropolitan New York Chapter of the Appraisal Institute is sponsoring Course 400, US-PAP Update, from 9 a.m. to 5 p.m. Location is Association of the Bar of the City of NY, 42 W. 44th St., NYC. Tuition: $195. Registration: Call (866) 966-3710 or ...

Jeff Schwartzberg, president of Commercial Industrial Brokers Society of Long Island, presents former CIBS president Ray Ruiz with plaque of appreciation at recent CIBS event.(AROUND THE TOWN)

Mar 04, 2009 ... [ILLUSTRATION OMITTED] Caption: Jeff Schwartzberg, president of Commercial Industrial Brokers Society of Long Island, right, presents former CIBS president Ray Ruiz with plaque of appreciation at recent CIBS event. Long Island real estate industry veterans discussed "Closing ...

Sapir Organization signs 65,000 s/f lease at 100 Church St.

Mar 04, 2009 ... The Sapir Organization announced that Interactive Data Corporation has signed a 65,000 s/f, 15-year lease at 100 Church Street. Interactive Data will be the prominent anchor tenant at the signature office tower. It will occupy 51,000 s/f initially, followed by 14,000 s/f of ...

Another deal at ESB.

Mar 04, 2009 ... Reflecting the success of W&H's long-term plan to accommodate medium-size credit-worthy firms at the Empire State Building, TranSystems Corporation, a transportation consulting company with more than 40 offices around the United States, has signed a lease for 8,900 s/f on the property's ...

Kalmon Dolgin Affiliates, Inc. (KDA) has leased a 4,700 s/f, two-story warehouse at 28 Frost Street in Brooklyn to Omega 33 Corp., a bread and pastry wholesaler.(New York)

Mar 04, 2009 ... Kalmon Dolgin Affiliates, Inc. (KDA) has leased a 4,700 s/f, two-story warehouse at 28 Frost Street in Brooklyn to Omega 33 Corp., a bread and pastry wholesaler. Neil Dolgin, executive vice president of Kalmon Dolgin Affiliates, made the announcement. Fred Rufrano represented ...

530 Seventh Avenue has continued to attract high-profile names to its tenant roster with the signing of two new leases.(New York)(Creare LLC and Six Degrees)(Brief article)

Mar 04, 2009 ... 530 Seventh Avenue has continued to attract high-profile names to its tenant roster with the signing of two new leases. Creare LLC, a contemporary men's and women's apparel and accessories company, committed to 1,700 s/f of space, while Six Degrees, a high-end sportswear company, renewed ...

Heritage scores leasing trifecta at Gannett office park.(LEASES)

Mar 04, 2009 ... Heritage Realty Services, LLC announced three long-term lease renewals, including two renewal-plus-expansion leases, totaling 46,500 s/f at Gannett Office Park. Gannett Office Park, owned by Heritage Realty Services' affiliate Dryland Gannett, LLC, is a three-building office ...

Agency inks full-floor deal at W&H tower.(LEASES)

Mar 04, 2009 ... Gibbs & Soell, one of the largest independent public relations agencies in the United States, has leased the entire 44th floor of W&H Properties' 60 East 42nd Street, announced William Cohen, executive vice president and principal of Newmark Knight Frank, the property's leasing and ...

NAI deal at Wall St. Plaza.(LEASES)

Mar 04, 2009 ... Andrew Simon, Executive Managing Director in NAI Global's New York City office, represented institutional energy broker Power Merchants Group LLC in a lease that triples its office space on Wall Street. Simon and Robert Kluge, Associate, represented Power Merchants Group in the ...

The National Realty Club lunch meeting held recently at The Williams Club featured Michael D. Bailkin, Esq., AkermanSenterfitt LLP, and managing partner, Stadtmauer Bailkin Economic Development Group, who discussed the future of government incentives in the redevelopment and revitalization of New York City's commercial neighborhoods.

Mar 04, 2009; ... [ILLUSTRATION OMITTED] Caption: The National Realty Club lunch meeting held recently at The Williams Club featured Michael D. Bailkin, Esq., AkermanSenterfitt LLP, and managing partner, Stadtmauer Bailkin Economic ...

Tuned-in W&H responds to demand with expansion in pre-built program.(W&H Properties)

Mar 04, 2009 ... In response to increasing demand for small to mid-sized pre-built units, W&H Properties is expanding its pre-built program in each of the portfolio's nine Pre-War Trophy buildings, announces Fred C. Posniak of W&H. As a result, every W&H building is rolling out new pre-built ...

Newmark marketing 43,000 s/f in Times Sq.(Newmark Knight Frank)(Brief article)

Mar 04, 2009 ... Newmark Knight Frank has announced the availability of two full floors totaling 43,362 s/f at 1430 Broadway. Located in the Times Square area at 40th Street and Broadway, the 22-story, 364,000 s/f building is owned by Steinberg and Pokoik. For Newmark Knight Frank, ...

Photo finish in DUMBO.

Mar 04, 2009 ... Two Trees Management announced that eight photography tenants have leased space in DUMBO. These eight businesses, Jan Krukowski & Company, A.I.R. Gallery, Rhombus/Amos Eno Gallery Inc., KrisGraves Projects, Alamy Inc., Space 33 Inc., Le Studio NYC, and Odyssey E.S.S. Inc., ...

LIC move affords diamond merchant a big cut in rents.

Mar 04, 2009 ... Kalmon Dolgin Affiliates, Inc. (KDA) has arranged a 13,300 s/f lease for Quality Casting, Inc., a leading jewelry caster servicing large manufacturers, custom designers and jewelry repair shops, at the Falchi Building located at 31-00 47th Avenue in Long Island City, Queens. ...

S&Z brings health store, gym to Long Island City.(Sholom and Zuckerbrot Realty L.L.C. signed a deal with Planet Fitness and Pure Nature)(Brief article)

Mar 04, 2009 ... Sholom & Zuckerbrot Realty (S&Z) has arranged 15-year leases that bring Planet Fitness and Pure Nature to 30-33 Steinway Street in Long Island City, according to Frank Zuckerbrot, president of S&Z. Planet Fitness, a national chain of exercise facilities, will take immediate ...

Rechler fills LI building.(Rechler Equity Partners)(Dell, Little, Trovato and Vecere, LLP.)(Brief article)

Mar 04, 2009 ... Nine months after completing construction of its ground-up, Class A office property at Five Orville Drive, Rechler Equity Partners announced the signing of the last major tenant, heralding the building's 100% occupancy. Mitchell Rechler of Rechler Equity Partners made the announcement. ...

Jerome gets back to Basis with debt investment biz.

Mar 04, 2009 ... JEMB Realty has launched Basis Investment Group LLC, to capitalize on the unprecedented opportunities in the debt market. Finance veteran Tammy K. Heyman, who previously directed CWCapital's fixed and floating rate Capital Markets Lending Division, will serve as president of the ...

LI veteran Rochlin forms new firm.(Long Island estate professional Adam E. Rochlin established Rochlin Organization LLC.)(Brief article)

Mar 04, 2009 ... Adam E. Rochlin, an accomplished Long Island estate professional, has established his own real estate firm, The Rochlin Organization LLC, which specializes in landlord representation. "I am excited by the opportunities that these challenging times present," said Rochlin, who for ...

Carey forms $50m self-storage JV.

Mar 04, 2009 ... Investment firm W. P. Carey & Co. LLC announced that its affiliate, Carey Storage, has formed a self-storage-focused joint venture with Harbert[R] Management Corporation. Harbert and W. P. Carey are contributing a total of $50 million to the venture--$30 million from Harbert and ...

Simone has big plans to transform former Verizon building.

Mar 04, 2009 ... Simone Development Companies continues to expand its portfolio of commercial and retail properties in the New York Metro area with its recent acquisition of the former Verizon Call Center in the Bronx. Located at 2510 Westchester Avenue, the three-story building features 60,000 ...

17, 000 s/f of high tech space signed to Ventus.

Mar 04, 2009 ... Ventus Networks signed a 17,000 s/f lease at NordenPark, the 630,000 s/ft high-tech office complex located in Norwalk, Conn., it was announced by Cushman & Wakefield, the property's leasing agent. Ventus, a provider of advanced global wireless and fixed wire telecommunication ...

22-acre CT land lease.

Mar 04, 2009 ... Fischer Real Estate recently negotiated a 40-year lease of 22 acres of commercial land at Exit 41 of 1-95 on Marsh Hill Road in Orange, Connecticut owned by the Foyer family. The lease contains an option to extend for an additional 40 years plus a limited-condition option to ...

Equity releases Gold Coast gem to the NJ retail market.

Mar 04, 2009 ... [ILLUSTRATION OMITTED] An outstanding new retail opportunity is now available on a strategically located block along the Gold Coast waterfront district in Jersey City. The 6,500 s/f space is located on the street level of 70 Greene St., an architecturally stunning, ...

SoHo space has got what it takes.

Mar 04, 2009 ... Robert K. Futterman & Associates, LLC (RKF) has been retained as the exclusive retail leasing agent for what might be considered the most prestigious retail space to become available in SoHo in several years--26,500 s/f at 134 Spring Street. Positioned at the south block between ...

ICSC announces new chairman.

Mar 04, 2009 ... The International Council of Shopping Centers, Inc. (ICSC) has announced that Peter Sharpe, president and CEO of The Cadillac Fairview Corporation Limited, has been nominated by the ICSC Board of Trustees to serve as the association's chairman for the 2009-2010 term. Sharpe will ...

Bloomberg to kick off BOMA/NY Energy Action Day.(Building Owners and Managers Association International)(Conference news)

Mar 04, 2009 ... [ILLUSTRATION OMITTED] Has the plunging Dow and skyrocketing cost of the bailout pushed smart, long-term practices such as sustainability onto the back burner? BOMA/NY says "No!" and two prominent New York area officials--New York City Mayor Bloomberg and Port ...

Rosenblum ranked No. 1.(Howard Rosenblum of Kaufman Organization)(Brief article)

Mar 04, 2009 ... Howard Rosenblum of the Kaufman Organization was recently named the company's Top Associate Biller of 2008, completing an aggregate value of $20 million dollars in leasing volume in the past year. Specializing in Manhattan office leasing, Rosenblum has acted as a broker on ...

Cooperator countdown.

Mar 04, 2009 ... The Cooperator's annual Co-op & Condo Expo is scheduled for Tuesday, April 7, 2009. Encompassing three floors at the Hilton New York, 1335 Avenue of the Americas, the day-long event will feature nearly 300 vendors, a comprehensive slate of informative seminars and free advice ...

REBNY red carpet time for top residential managers.(PROPERTY MANAGEMENT)(Real Estate Board of New York honored Elly Pateras and Dorothy Vermeer)

Mar 04, 2009 ... The Real Estate Board of New York (REBNY) honored two industry executives at its annual Residential Management Leadership Awards Breakfast at the Roosevelt Hotel on Feb. 3, 2009. Elly Pateras, vice president/senior managing director for Douglas Elliman Property Management ...

Argo's Whiting receives award.(PROPERTY MANAGEMENT)

Mar 04, 2009 ... Lynn Whiting, director of management for The Argo Corporation has been honored by The New York Association of Real Estate Managers (NYARM) as the 2009 Director of Management. The annual awards ceremony, held at the Marriot Marquis in Times Square, recognizes a select group of preeminent ...

Renovations cornerstone of Capstone approach.(PROPERTY MANAGEMENT)

Mar 04, 2009 ... Capstone Equities is again taking a progressive approach to this market with major renovations to its 156 William Street property. Capstone is moving forward with a $7,000,000 major capital improvements program quickly attracting three new tenants at 2008 year-end, announced Joshua Zamir, ...

BOMA enhances industry survey.(PROPERTY MANAGEMENT)(Building Owners and Manager's Association)(Brief article)

Mar 04, 2009 ... The Building Owners and Manager's Association (BOMA) International's survey that produces the pioneering benchmarking publication, the Experience Exchange Report (EER), launched with several revolutionary enhancements. This year, the nearly 90-year-old benchmarking tool will transition to ...

Kaled named Company of the Year.(PROPERTY MANAGEMENT)(Kaled Management)(Brief article)

Mar 04, 2009 ... Kaled Management Corp. has been named Management Company of the Year by the New York Association of Realty Managers (NYARM), a leading organization of real estate and property management professionals. The award was presented at NYARM's Annual Gala held Jan. 31 at the Marriott Marquis ...

Aggressive deal making on cards for LI owners.(PROPERTY MANAGEMENT)

Mar 04, 2009 ... Jones Lang LaSalle announced that the ongoing economic turmoil affecting the entire New York metropolitan area has had an impact on the Long Island office market. Vacancy rates increased and average asking rental rates fell throughout the market in the fourth quarter of 2008. ...

Rent regulation laws will weaken state economy.(INSIDER'S OUTLOOK)

Mar 04, 2009; ... The New York State Assembly has passed a number of rent-regulation revisions that all New York-based multifamily property owners need to follow closely as they make their way into the State Senate. The legislation is aimed at restraining increases on rent-regulated apartments ...

Good guy guaranties: landlord-tenant perspectives in tough times.(INSIDER'S OUTLOOK)

Mar 04, 2009; ... As an increasing number of tenants are experiencing economic difficulties and looking to wind down their businesses, more and more tenants are carefully examining their leases and lease guaranties to determine whether it makes sense for them to surrender possession of their leased ...

Cut tech costs without cutting service.(TECHNOLOGY)

Mar 04, 2009; ... In any business, large or small, there is one mantra that gets chanted over and over anytime the economy goes even a little weak: cut costs. Of course when the economy completely tanks and ordinary citizens start wondering if they should keep their money in their mattresses instead of the ...

Developers, lenders interface for first time.(TECHNOLOGY)

Mar 04, 2009 ... New York-based Equity Interface announced the completion of its first members-only investor/developer conference call. These calls, hosted by www.EquityInterface.com, a one-of-a-kind Web site that introduces commercial real estate developers and syndicators to individuals and ...

On the Web.(TECHNOLOGY)(List)

Mar 04, 2009 ... <Pre> ON THE WEB: A & I Broadway Realty www.BroadwayRealty.com Academy for Continuing Education: www.RealEstateAcademy.com Adams & Company Real Estate:www.adamsre.com Alliance Building Servies: www.alliancebuildingservices.com Alpine Commercial ...

Mediterranean-style leasing opps hit Fla. office market.(NATIONAL ROUND-UP)

Mar 04, 2009 ... MIAMI: Colliers Abood Wood-Fay has been named leasing agent for 2020 Ponce, a new class A office building located at 2020 Ponce de Leon Blvd. in the Coral Gables business district. The Mediterranean-style tower was developed by Florida East Coast Realty (FECR) and has a total of 130,000 ...

Audit, tax, advisory firm takes 260,000 s/f Windy City space.(NATIONAL ROUND-UP)

Mar 04, 2009 ... CHICAGO: Piedmont Office Realty Trust announced today that KPMG LLP, the audit, tax and advisory firm, signed a 15-year, 260,000 square-foot direct lease at Aon Center in Chicago. Known as one of the "Big Four" accounting firms, KPMG will be relocating its Chicago office from 303 E. Wacker ...

Gyrodyne sees Va. med center as healthy investment.(NATIONAL ROUND-UP)

Mar 04, 2009 ... FAIRFAX, VA: Gyrodyne Company of America, Inc. has agreed to purchase Fairfax Medical Center, a 59,108 s/f medical office property located at 10721 Main Street in Fairfax, Va., for approximately $13.2 million. Gyrodyne anticipates completing due diligence and closing on the purchase on or ...

NAI expands Ohio coverage with Canton-based Spring Realty Group.(NATIONAL ROUND-UP)

Mar 04, 2009 ... CANTON, OH: NAI Global announced it is expanding its coverage in northern Ohio with the signing of Spring Realty Group. The firm will now be known as NAI Spring. Based in Canton, and serving Stark and Carroll Counties in Ohio, NAI Spring is a full service commercial/industrial ...