Real Estate Weekly back issues from April 2009:
UJA-Federation of New York's Real Estate and Allied Trades Division's Young Real Estate Executives (REX) honored Jonathon Yormak (right) of Broadway Partners at its annual luncheon at the Waldorf-Astoria.
Apr 01, 2009 ... [ILLUSTRATION OMITTED] Caption: UJA-Federation of New York's Real Estate and Allied Trades Division's Young Real Estate Executives (REX) honored Jonathon Yormak (right) of Broadway Partners at its annual luncheon at The Waldorf-Astoria. New York State Attorney General Andrew ...
TALF: a chance to restart credit market.
Apr 01, 2009; ... Speaking at a breakfast hosted by the Association of Women in Real Estate, or AREW, Clifton "Chip" Rodgers, a senior vice president at the Real Estate Roundtable said that a much-awaited government program intended to bolster lending in the commercial real estate sector will be unveiled ...
1 WTC: glass half full.(World Trade Center )
Apr 01, 2009; ... The Port Authority completed a deal to lease 190,000 s/f at One World Trade Center to the Chinese real estate firm Vantone Industrial Company. The deal is the first lease to be signed at the 2.6 million square foot tower, which is currently in the process of being built by the ...
Bloomie's Silverstein swipe.(Michael Bloomberg )
Apr 01, 2009; ... Mayor Michael Bloomberg seemed to treat recent reports that Larry Silverstein could bog development at World Trade Center back down in delays if he doesn't receive financial backing from the Port Authority for the towers he wants to build there as a reminder of why the city wanted to ...
ESDC'S shrinking role.(Empire State Development Corporation)
Apr 01, 2009; ... During the days when George Pataki was New York's governor, the Empire State Development Corporation served as one of the prominent government arms of economic development in the city. It was in 2006 when the agency's then-head Charles Gargano, in front of a cluster of reporters ...
Spitzer's $25m CCNY gift.
Apr 01, 2009 ... Bernard Spitzer, a prominent New York City real estate owner and developer and father of former governor Eliot Spitzer, has gifted $25 million to the City College of New York. "I strongly believe there are few things more fundamental to the common good than an educated society, ...
IREM meets its goal at annual symposium.(Conference news)
Apr 01, 2009 ... [ILLUSTRATION OMITTED] Not since Obama's inauguration have there been so many past presidents seated together. They all took a moment during their attendance at IREM's Second Annual Asset & Property Management Symposium hel at the New York Helmsley Hotel. ...
Tax revenue slump adds to state's budget woes.
Apr 01, 2009; ... Governor David Paterson's office released a statement last week that New York's tax revenues have fallen another $1.8 billion below estimates. The announcement comes after February's revelation that declining revenues had added another $1 billion to the state's deficit and ...
Spinola says 'no' to millionaire tax.
Apr 01, 2009; ... The revelation that the state is facing a more than a $16 billion deficit in its upcoming 2009-2010 budget increases the likelihood that legislators will move to raise taxes on the wealthy. Last week at a luncheon held by REBNY, the real estate industry group's president Steve ...
Besen & Associates.(WHO'S NEWS)
Apr 01, 2009 ... [ILLUSTRATION OMITTED] Hal Fuchs has returned to Besen & Associates as senior director. Fuchs first started at Besen in February 2003 and sold in excess of $150,000,000 of investment property during his tenure with the firm. He offers demonstrable expertise in ...
David Hirschman Realty Company, Inc., announced a formal expansion of its retail division, David Hirschman retail, effective immediately.(WHO'S NEWS)
Apr 01, 2009 ... David Hirschman Realty Company, Inc., announced a formal expansion of its retail division, David Hirschman Retail, effective immediately. [ILLUSTRATION OMITTED] The company has appointed top-producing sales professional, Alison Cohen, as vice president, and Susan ...
Sholom & Zuekerbrot Realty (S&Z).(WHO'S NEWS)
Apr 01, 2009 ... Sholom & Zuekerbrot Realty (S&Z) has named Josh Segal a managing director. Segal, who rejoins the firm to assume his new post, was with S&Z for five years in the early 1990s as an associate broker. The Long Island native has enjoyed a nearly 20-year career as a real estate ...
Studley.(WHO'S NEWS)(appointment of Kevin McLennan as a senior managing director)(Brief article)
Apr 01, 2009 ... Kevin McLennan has left Steinco and joined Studley's Chicago office as a senior managing director. He will be the seventh member of a team led my Studley branch managers John Goodman and Richard Schuham and will concentrate his efforts on further developing Studley's reach ...
RADCO Companies.(WHO'S NEWS)
Apr 01, 2009 ... The RADCO Companies has expanded its operations with the opening of a New York office. The announcement was made by Norman Radow, chief executive officer of The RADCO Companies. [ILLUSTRATION OMITTED] James E. Raved, a prominent real estate and construction executive ...
NAI James E. Hanson announced that it has bolstered its Government Services Group with the addition of Susan G. Trovati as sales associate, resident in the firm's Hackensack office.(WHO'S NEWS)
Apr 01, 2009 ... NAI James E. Hanson announced that it has bolstered its Government Services Group with the addition of Susan G. Trovati as sales associate, resident in the firm's Hackensack office. In this role, Trovati will work with Peter A. Cohen, director of NAI Hanson's Government Services Group. ...
Marcus & Millichap Real Estate Investment Services.(WHO'S NEWS)
Apr 01, 2009 ... Marcus & Millichap Real Estate Investment Services has hired two leading investment specialists in Manhattan and New Jersey. The agents are Patrick J. Bisceglia and Jeffrey J. Oram. [ILLUSTRATION OMITTED] Bisceglia joins the Manhattan ofrice as an associate vice ...
Massey Knakal announced that Christopher Grinnell has joined the as a first vice president of sales working in the Westchester division.(WHO'S NEWS)
Apr 01, 2009 ... Massey Knakal announced that Christopher Grinnell has joined the as a first vice president of sales working in the Westchester division. Grinnell comes to MKRS with 20-years experience at Morgan Stanley. His last seven years with the investment bank were spent as an executive ...
Massey Knakal Realty Services.(AGENTS)
Apr 01, 2009 ... Massey Knakal Realty Services has been retained on an exclusive basis to sell 427 East 12th Street, an East Village residential rental development opportunity, with foundation already in place. The asking price is $2,300,000. The property has full tax ...
J.G. Petrucci Co.(AGENTS)(Brief article)
Apr 01, 2009 ... J.G. Petrucci Co., Inc. is making available for lease the entire third floor, 6,000 s/f, at 171 State Route 173 in Asbury, New Jersey. Known as Mountain-view 78, the building is located adjacent to Exit 11, a full ...
Dan Houlihan of Houlihan & O'Malley Real Estate Services of Bronxville, NY, announced the sale of 19 Warren Place in Mt. Vernon, NY. Houlihan, acting as the exclusive broker, represented the seller of the two-story 15,000 s/f warehouse, Bernard Stachel of Tamerlain Realty represented the buyer.(SALES)
Apr 01, 2009 ... Dan Houlihan of Houlihan & O'Malley Real Estate Services of Bronxville, NY, announced the sale of 19 Warren Place in Mt. Vernon, NY. Houlihan, acting as the exclusive broker, represented the seller of the two-story 15,000 s/f warehouse, Bernard ...
Massey Knakal.(SALES)(Massey Knakal Realty Services Inc.)(Brief article)
Apr 01, 2009 ... Massey Knakal announced the following transactions: * The sale of a mixed-use development site at 1767 Southern Boulevard in The Bronx for $650,000. The property is a 6,505 s/f mixed-use development site in an R7-1/C1-4 zone. Broker David Simone exclusively represented the ...
Dubin looking at the long-term possibilities.(PROFILE OF THE WEEK)
Apr 01, 2009; ... Michael Dubin, president, brokerage services, Savitt Partners LLC "In the competitive world of commercial real estate, those with the broadest industry experience who are committed to understanding and implementing long term strategies for their clients' business goals are in a ...
NKF marketing Newark land sale.
Apr 01, 2009 ... The Newmark Knight Frank Capital Markets Group has been retained exclusively by the Newark Broad Street LLC subsidiary of The Kleiner Group to sell a 100% fee simple interest in 999 Broad Street. The site, currently vacant, has been approved for mixed-use luxury residential and ...
Corporation relocates global headquarters.
Apr 01, 2009 ... Heritage Management has announced that IDT Corporation will relocate its global headquarters to 550 Broad Street this spring, bringing the 300,000 s/f, Class A property to 100% occupancy. Heritage acquired the landmark tower, located in Newark's commercial district, in 2001; the ...
Around the town.(Calendar)
Apr 01, 2009 ... B'nai Brith Luncheon April 1: Jeffrey A. Horwitz, co-Head of The Lodging & Gaming Group at Proskauer Rose, leads panel on "Hospitality Industry at the Crossroads: Is More Better?" at the luncheon at noon at the Cornell Club, 6 East 44th Street, Ivy Room. Panelists will be ...
Medical center takes 31,000 s/f Hutch space.
Apr 01, 2009 ... The Hutchinson Metro Center has announced that Montefiore Medical Center has signed a 31,000 s/f lease for medical office space. Montefiore, which is leasing space on the 8th floor of the new 13-story Tower One building, joins the growing number of medical practices located at ...
Good things are worth the wait for subleasing law firm.
Apr 01, 2009 ... International commercial real estate services firm Studley has represented Kilpatrick Stockton in a sublease that doubles the size of its New York City office. The law firm, which has offices in the United States, Europe and the Middle East, has subleased more than 25,000 s/f, ...
Security leader leases 33,000 s/f in W'chester.
Apr 01, 2009 ... Diebold Enterprise Security, a 150-year-old global leader that provides integrated self-service security systems and services, has signed a lease to occupy 33,250 s/f at 3 Westchester Plaza in Elmsford, NY. William V. Cuddy, Jr., executive vice president, and Timothy C. ...
KDA closes 25,000 s/f deal.(Kalmon Dolgin Affiliates, Inc)(Brief article)
Apr 01, 2009 ... Kalmon Dolgin Affiliates, Inc. has arranged a new, long-term, 25,000 s/f lease for TEC Systems, Inc., the largest privately owned independent building automation and systems integration contractor in the New York metropolitan area, on the fourth floor of 47-25 34th Street in Long Island ...
David Schechtman, Esq., senior director and head of the loan sales and turnaround group at Eastern Consolidated, addressed members of the National Realty Club at The Williams Club at the group's monthly luncheon.
Apr 01, 2009 ... [ILLUSTRATION OMITTED] Caption: David Schechtman, Esq., senior director and head of the loan sales and turnaround group at Eastern Consolidated, ...
Ernest Simons building fetches $14m.
Apr 01, 2009 ... 181 Westchester Avenue, also known as the Ernest Simons building and former home to the Ernest Simons Manufacturing Company from 1876-1914, sold for $13.9 million. Al Mirin, senior vice president, and Silvia Pogosyan, senior associate, of CBRE's Westchester/Fairfield County ...
Brooklyn apt. sale reaches finish line.(Brief article)
Apr 01, 2009 ... Rosewood Realty Group has brokered the sale of four multi-family buildings in East Flatbush, Brooklyn for $14.5 million dollars. The sale of the 188-units was brokered by Aaron Jungreis and David Berger of Rosewood Realty Group, who represented both seller and the buyer. ...
Matrix buys NJ campus.
Apr 01, 2009 ... Matrix Development Group announced the acquisition of Mid-Atlantic Corporate Center from investment firm, Preferred Unlimited. The complex has been renamed Matrix Corporate Campus. Newmark Knight Frank and Fennelly & Associates represented Matrix and Preferred in the ...
Two Trees Management Co.(New York)(Brief article)
Apr 01, 2009 ... Two Trees Management Co. announced the following DUMBO transactions: * The New York Foundation for the Arts signed a 10-year lease for 11,835 s/f at 20 Jay Street. George Comfort & Sons, Inc. represented the tenant in this transaction. * Moving from 45 Main Street in ...
Best & Co., a leading luxury children's apparel brand combining classic styling and unique details, has expanded its showroom space from 2,000 to 3,800 s/f at 530 Seventh Avenue, the 460,000 s/f property owned by Savitt Partners.(New York)
Apr 01, 2009 ... Best & Co., a leading luxury children's apparel brand combining classic styling and unique details, has expanded its showroom space from 2,000 to 3,800 s/f at 530 Seventh Avenue, the 460,000 ...
Audrey Novoa, executive managing director of Murray HiU Properties, represented Thales Fund Management in subleasing the entire 38th floor, 7293 s/f, at 140 Broadway to Highland Capital Group for a six year term.(New York)
Apr 01, 2009 ... Audrey Novoa, executive managing director of Murray HiU Properties, represented Thales Fund Management in subleasing the entire 38th ...
Ideal Properties Group.(New York)(Brief article)
Apr 01, 2009 ... Ideal Properties Group announced the following leases totaling 10,052 s/f. The broker represented both landlords and tenants in all transactions: * A 700 s/f storefront at 453 7th Avenue in Park Slope leased by m.a.e., a high-end vintage clothing and shoe store, m.a.e, signed a ...
The Royal Properties leasing team of Jeffery Kintzer, Jr. and David Landes has signed two leases at 66 Main Street in Yonkers, New York.(New York)
Apr 01, 2009 ... The Royal Properties leasing team of Jeffery Kintzer, Jr. and David Landes has signed two leases at 66 Main Street in Yonkers, New York. * Verizon FIOS leased 2,200 s/f in the brand new building which also offered a state of the art build-out. Verizon FIOS will operate at this ...
NAI James E. Hanson announced the completion of an 11,098 s/f office lease at Lakeside East Corporate Center, at 3 Silver Line Drive, North Brunswick.(New Jersey)
Apr 01, 2009 ... NAI James E. Hanson announced the completion of an 11,098 s/f office lease at Lakeside East Corporate Center, at 3 Silver Line Drive, North Brunswick. NAI Hanson's ...
FirstService Williams.(Connecticut)
Apr 01, 2009 ... FirstServiee Williams announced the following transactions: * A 3,000 s/f office sublease on behalf of Peoples Bank at 350 Bedford Street in downtown Stamford. Peoples Bank will act as the sub-landlord in this deal. Under their sublease, Bregman & Co. Accountants will occupy the ...
Swig portfolio at 96%.(LEASES)(Swig Equities)(Brief article)
Apr 01, 2009 ... Kent M. Swig, president of Swig Equities, announces that the firm has completed 41 leasing transactions in its FiDi (Financial District) and San Francisco commercial 4 office portfolio in 2008, bringing its occupancy to over 96%. "These leases exemplify the strong support that ...
'Visionary' buyer sought for Brooklyn's Slave Theater.
Apr 01, 2009 ... Massey Knakal has been retained to sell 1215-17 Fulton Street, Bed-Stuy's historic Slave Theater. The theater, a hub for community activity throughout the latter part of the 20th century, will be sold separately or as package with sister theater Slave Theater #2, aka The Black ...
Winoker condominium sale division growing.
Apr 01, 2009 ... Winoker Realty Company has represented real estate development firm Philips International on the sale of their 1,842 s/f office condominium within 820 Second Avenue. Andrew Aberham, vice president and director of sales and leasing for Philips International, worked with the ...
Insurance broker leases 21,000 s/f Conn. office.
Apr 01, 2009 ... The Hampshire Companies announced that S.H. Smith & Company, Inc., one of the largest independently owned insurance brokers in the country, has leased 21,000 s/fat 20 Church Street in Hartford, Conn. The property is a part of Hampshire Partners Fund VI, Hampshire's $235 million ...
Meridian.(FINANCE)(Brief article)
Apr 01, 2009 ... Meridian is pleased to announce the following transactions: * A new mortgage of $5,200,000 on a 216 unit, 10-story multifamily building on Glenwood Avenue in East Orange, NJ. The loan featured a rate of 6.125% and a 10year term. The transaction was negotiated by Joseph Taub. ...
GCP Capital Group LLC.(FINANCE)
Apr 01, 2009 ... GCP Capital Group LLC, announced the following transactions: * A $5,500,000 loan at 6.125% with 2 years Interest Only for a 16-story office building containing 36 units, located on West 30th Street in Manhattan, New York. Stephen Katz, senior associate, arranged the financing ...
Eastern Union.(FINANCE)(Eastern Union Funding)(Brief article)
Apr 01, 2009 ... Eastern Union is pleased to announce the following trnasactions: * A $2,000,000 first lien mortgage for the refinance on a 20 unit mixed use property in Bronx, N.Y. This transaction was arranged by Michael Muller. The loan featured a rate of 6. 25 % and a ...
Arbor funds three new loans totaling $53m.(FINANCE)(Arbor Commercial Mortgage L.L.C.)(Brief article)
Apr 01, 2009 ... Arbor Commercial Funding, LLC announced the recent funding of three loans totaling $52,900,000 under the Fannie Mae DUS product line. These loans include: * Battleground North Apartments, Greensboro, NC--A 288-unit complex in the amount of $16,200,000 funded under the Fannie Mae ...
NYS Housing Finance OKs $21m of refis.(FINANCE)(New York State Housing Finance Agency)(Brief article)
Apr 01, 2009 ... The board of the New York State Housing Finance Agency has approved $21.5 million in financing to renovate two low-income rental housing projects in Brooklyn with 160 units reserved for senior citizens and the disabled. Both apartment houses were built originally in the early ...
New RICS valuation council aims to aid economic recovery.(FINANCE)
Apr 01, 2009 ... RIC Americas, the New York City-based division of the Royal Institution of Chartered Surveyors (RICS), London, UK, has announced the launch of the RICS Americas Valuation Council. The Council, tasked with debating and reviewing core valuation policy and business issues, will ...
Roseland team will offer asset recovery services.(FINANCE)(Roseland Property Co.)(Brief article)
Apr 01, 2009 ... Roseland Property Company of Short Hills, NJ has launched a new consulting division to offer asset recovery services to financial institutions and other lender/owners. The privately-owned, full-service company will focus its consulting work on situations where the firm's skills ...
NAIOP to honor industry leaders at annual awards gala.(NEW JERSEY)(Conference news)
Apr 01, 2009 ... One of New Jersey's top networking events of the year, the 22nd Annual NAIOP-NJ Commercial Real Estate Awards Gala, will be held Thursday, May 14, 2009 at the New Jersey Performing Arts Center (NJPAC) in Newark. [ILLUSTRATION OMITTED] "It is never more important to ...
Furniture firm reups for 432,000 s/f.(NEW JERSEY)
Apr 01, 2009 ... Matrix Development Group announced a 432,140 s/f lease renewal with Cory Furniture at Bayway Industrial Center. This lease represents one of the largest industrial transactions in New Jersey in quite some time. Located within Elizabeth, N.J.'s Urban Enterprise Zone, ...
34,000 s/f renewal at Campus Drive.(NEW JERSEY)
Apr 01, 2009 ... Mack-Cali Realty Corporation announced that the Ayco Company L.P. has signed a 10-year and three-month renewal for 34,035 s/fat 8 Campus Drive in Parsippany, NJ. The Ayco Company provides financial counseling and education services for corporate executives and employees as well ...
60,000 s/f in deals at Florham Park.(NEW JERSEY)
Apr 01, 2009 ... [ILLUSTRATION OMITTED] After its acquisition by Bergman Real Estate Group in August 2007, the Florham Park Corporate Center has shown steady leasing activity. Within the past 18 months, Bergman has closed leases, renewals and expansions on more than 60,000 s/f with ...
Consolo, Aquino tout Carnegie Hill spot.(NEW JERSEY)(Brief article)
Apr 01, 2009 ... The leasing team of Faith Hope Consolo, chairman, and Joseph Aquino, executive vice president of Prudential Douglas Elliman's Retail Leasing, Marketing and Sales Division, has been chosen to exclusively market a well-positioned space at 1225 Madison Avenue, between 88th and 89th Streets in ...
Fast growing furniture retailer takes 40,000 s/f in Brooklyn.(NEW JERSEY)
Apr 01, 2009 ... Raymour & Flanigan Furniture, the third fastest growing and tenth largest U.S. furniture retailer, has signed a lease to take over the former Linens N Things store in Brooklyn. The 40,000 s/f freestanding store is located on Cropsey Avenue and the Belt Parkway. The owners are a ...
Flight Club sneakers into SoHo space.(NEW JERSEY)(Brief article)
Apr 01, 2009 ... Peter Levitan, associate director at Sierra Realty Corp. has secured a seven-year retail lease at 267 Lafayette Street with vintage and limited edition sneaker-specialized franchise Flight Club. Sierra Realty represented both Flight Club and the landlord, Gilman Management in ...
Harlem retail request.(NEW JERSEY)(Brief article)
Apr 01, 2009 ... New York City Economic Development Corporation has issued a Request for Expressions of Interest for the lease and operation of all or a portion of La Marqueta in East Harlem for food or agricultural-related uses. A city-owned retail market property, La Marqueta is made up of ...
Abigail Michaels gets to WURK.(PROPERTY MANAGEMENT)(Wurk Environments, LLC partnered with Abigail Michaels Concierge)(Brief article)
Apr 01, 2009 ... Wurk Environments, LLC has partnered with Abigail Michaels Concierge to offer tenants five-star hotel caliber concierge services at Wurk-Times Square, the company's flagship professional work space at 1515 Broadway. Wurk--Times Square--an upscale, professional multi-suite ...
BOMA takes critical message to lawmakers.(PROPERTY MANAGEMENT)
Apr 01, 2009 ... Members of the Building Owners and Managers Association (BOMA) International took their urgent message to Capitol Hill lawmakers as part of BOMA's annual National Issues Conference, last week in Washington, D.C. With a floundering economy, high unemployment and uncertainty in ...
Five new Certified Property Managers were sworn in at the Greater New York Chapter of the Institute of Real Estate Management's February luncheon meeting.(PROPERTY MANAGEMENT)
Apr 01, 2009 ... [ILLUSTRATION OMITTED] Caption: Five new Certified Property Managers were sworn in at the Greater New York Chapter of the Institute of Real Estate Management's February luncheon meeting. James P. Hayden, CPM & chapter president said, "The more educated, experienced ...
Argo expands management portfolio into the Bronx.(PROPERTY MANAGEMENT)
Apr 01, 2009 ... Argo Management, a division of The Argo Corporation, a full-service real estate firm based in Manhattan, has expanded its portfolio with the award of two significant developments located in the Bronx. The two new accounts are Fordham Hill Oval, a 1,200-unit cooperative ...
2 Rector to get energy overhaul.(PROPERTY MANAGEMENT)(GSH Group Inc., contract with Stellar Management )(Brief article)
Apr 01, 2009 ... GSH Group Inc., an international facilities and energy management provider, announced a long-term energy management contract with Stellar Management for 2 Rector Street. GSH will utilize its energyplus program to reduce the facility's energy consumption through engineering best ...
Knockout earns green designation.(PROPERTY MANAGEMENT)(Brief article)
Apr 01, 2009 ... With consumer demand rising for eco-friendly pest control, one of the largest pest control companies in the region, Knockout Pest Control Inc., is responding with cutting edge "'green" services. The National Pest Management Association awarded the QualityPro Green designation to ...