Real Estate Weekly

Browse past and current articles from this publication.

The strength of women in the real estate industry was notable among the honorees, chairs, leadership and committee members respo
[ILLUSTRATION OMITTED] The strength of women in the real estate industry was notable among the honorees, chairs, leadership and committee members responsible for the outstanding success of the Des . . .

Despite plummeting prices, distress in check.
Sapped by the recession and a sharp pullback in lending, commercial real estate prices have retreated so sharply since the credit crisis began to take hold in late 2007 that most real estate experts . . .

Dev firm aims for restructure.
Tribeca Associates, a Manhattan real estate development firm, is trying to restructure a ground lease it has with Trinity Real Estate for the downtown office property 330 Hudson Street according to . . .

Atticus nixes operations.(Atticus Capital)(Brief article)
It's not clear what Atticus Capital, the hedge fund that announced it was closing the bulk of its operations, will do with offices it leases at the General Motors Building. Last week the firm's fo . . .

Cushman & Wakefield closes on 57,000 s/f at 1385 Broadway.(Cushman & Wakefield Healey & Baker)(Brief article)
Cushman & Wakefield announced the completion of two new leases at 1385 Broadway totaling 57,000 s/f. Paris Accessories has signed a 40,000 s/f lease and the N.Y. State Health Foundation has signed a . . .

Carlton arranges $504m acquisition interest.
Chairman Howard L. Michaels announced that Carlton has advised a joint venture between Optibase Ltd. and Gilmor USA LLC, on the acquisition of a 49.5% interest in the office building located at 485 . . .

Roger D. Winston, a distinguished real estate attorney and a co-leader of the Planned Communities and Condominiums Group at Ball
Roger D. Winston, a distinguished real estate attorney and a co-leader of the Planned Communities and Condominiums Group at Ballard Spahr Andrews & Ingersoll, LLP, will become chair of the 30,000-me . . .

NAWIC National Association of Women in Construction Greater New York and Long Island Chapter 240 elected Stalco Construction, In
NAWIC National Association of Women in Construction Greater New York and Long Island Chapter 240 elected Stalco Construction, Inc.'s project manager Jennifer AG Rennie as 2009 chapter vice president . . .

Marcus & Millichap Real Estate Investment Services.(WHO'S NEWS)
The board of directors of Marcus & Millichap Real Estate Investment Services has named Greg Babaian and Ben Sgambati to the position of vice president investments. The achievement of vice president . . .

Studley.(WHO'S NEWS)(appointment of J. Thomas Glerum)(Brief article)
Studley announced that J. Thomas Glerum, a seasoned commercial real estate professional with more than 30 years of experience in the industry, has joined the firm as a senior managing director. Mr. . . .

The Appraisal Institute.(WHO'S NEWS)
The Appraisal Institute announced the hiring of William T. Zimmermann as chief financial officer. Zimmermann will report to chief executive officer Frederick H. Grubbe. Zimmermann spent six years as . . .

Jones Lang LaSalle has announced that managing director Jonathan Meisel recently earned LEED accreditation, making him one of th
Jones Lang LaSalle has announced that managing director Jonathan Meisel recently earned LEED accreditation, making him one of the company's latest sustainability experts. Meisel's accreditation, par . . .

Patrick L. Phillips, president and chief executive officer of ERAAECOM (formerly Economics Research Associates), has been select
Patrick L. Phillips, president and chief executive officer of ERAAECOM (formerly Economics Research Associates), has been selected as the new chief executive officer of the Urban Land Institute, a g . . .

The Blackstone Group L.P.(WHO'S NEWS)
The Blackstone Group L.P. announced that Byron Wien will join the firm as vice chairman of Blackstone Advisory Services. Mr. Wien was previously chief investment strategist for Pequot Capital and, b . . .

Stalco Construction, Inc.(WHO'S NEWS)
Stalco Construction, Inc. hired Joseph G. Galvin as project manager. Galvin's responsibilities include complete project management in pre-construction, delivery, and close-out phases. He will manage . . .

Studley has snagged two of Houston's heavy hitters, Kyle Kelley and Lance McCarthy, formerly of CB Richard Ellis' Global Corpora
Studley has snagged two of Houston's heavy hitters, Kyle Kelley and Lance McCarthy, formerly of CB Richard Ellis' Global Corporate Services group in Houston. Mr. Kelley, executive managing director, . . .

Ronnie Shaban of Besen & Associates has been given the exclusive assignment to sell 1111 Gerard Avenue, a six-story dual elevato
Ronnie Shaban of Besen & Associates has been given the exclusive assignment to sell 1111 Gerard Avenue, a six-story dual elevator L-shaped apartment building with 122 apartments in The Bronx, close . . .

Larry Stryker and Amit Doshi have been given the exclusive to sell 223 West 115th Street, a vacant brownstone apartment building
Larry Stryker and Amit Doshi have been given the exclusive to sell 223 West 115th Street, a vacant brownstone apartment building in Central Harlem. The property is a five-story building currently co . . .

Marcus & Millichap Real Estate Investment Services has announced the sale of The Pavilion, a 5,400 s/f retail property located o
Marcus & Millichap Real Estate Investment Services has announced the sale of The Pavilion, a 5,400 s/f retail property located on Route 72 in Manahawkin, N.J. The asset commanded a sales price of $1 . . .

Gebroe-Hammer Associates has announced the $3 million disposition of 28 Gates Ave. in Montclair, N.J., a 29-unit four-story walk
Gebroe-Hammer Associates has announced the $3 million disposition of 28 Gates Ave. in Montclair, N.J., a 29-unit four-story walk-up that last traded 65 years ago. Managing director Ken Uranowitz rep . . .

A corner bank building at 7524 3rd Avenue in Bay Ridge, Brooklyn was sold in an all cash transaction valued at $1,100,000.(Sales
A corner bank building at 7524 3rd Avenue in Bay Ridge, Brooklyn was sold in an all cash transaction valued at $1,100,000. The three-story, mixed-use building measures approximately 4,312 s/f and si . . .

Marcus & Millichap Real Estate Investment Services has announced the sale of 147 Union Street, a 3,438 s/f mixed-use property lo
Marcus & Millichap Real Estate Investment Services has announced the sale of 147 Union Street, a 3,438 s/f mixed-use property located in Brooklyn. The asset commanded a sales price of $1,050,000 whi . . .

NAI Friedland Realty recently brokered the sale of 452 East Tremont Avenue, Bronx to a medical group.(Sales)
NAI Friedland Realty recently brokered the sale of 452 East Tremont Avenue, Bronx to a medical group. The 1,875 s/f property is located in close proximity to the Park Avenue Metro North Station at E . . .

A two-story commercial structure and an adjacent lot at 791-795 Westchester Avenue, in the Melrose section of the Bronx, sold in
A two-story commercial structure and an adjacent lot at 791-795 Westchester Avenue, in the Melrose section of the Bronx, sold in an all cash transaction valued at $1,200,000. The 7,679 s/f structure . . .

Westchester sci center fetches $27m.
Cushman & Wakefield, Inc. announced today that a growing biotech firm, OSI Pharmaceuticals, Inc., has acquired Ardsley Park Science & Technology Center, the 43-acre former Purdue Pharma campus in th . . .

JLL engineers 65,000 s/f lease at One Astor Plaza.
Jones Lang LaSalle completed a lease transaction for Syska Hennessy Group Inc. at 1515 Broadway, also known as One Astor Plaza, with SL Green Realty Corp. The engineering firm signed a 15-year dir . . .

CBRE completes 25,000 s/f Sovereign bank deal in Melville.
The CB Richard Ellis Long Island office has arranged a 25,000 s/f lease for Sovereign Bank at Three Huntington Quadrangle (3HQ) in Melville, New York. The financial institution has committed to a . . .

Around town: events seminars meetings talks.
PWC Architects & Engineers August 19: Professional Women in Construction (PWC-NY) presents Meet the Architects & Engineers 5:30 pm to 8:00 pm, at Club 101, 101 ParkAvenue, NYC. Honored guests are: . . .

New leases bring 61 Broadway to 96% occupancy.
Broad Street Development (BSD) has recently completed nearly 40,000 s/f in leases at the prominent Downtown office tower located at 61 Broadway in Manhattan. In addition to growing its tenant roster . . .

Kaufman inks two tenants at 15, 000 s/f.(contract with Franco Apparel, Beverly Jeans)(Brief article)
The Kaufman Organization, the exclusive leasing agent for 1407 Broadway, recently brokered two leases totaling 15,322 s/f. Franco Apparel, a recognized leader in the children's wear industry and l . . .

Deal brings restaurant to Yonkers waterfront.
Gerry Houlihan of Houlihan & O'Malley Real Estate Services worked very quickly to locate Westside Hospitality Group to take over the Pier View restaurant at 1 Van Der Donck Street, Yonkers. This res . . .

Meridian.(FINANCE)(Meridian Mortgage Corp.)(Brief article)
Meridian is pleased to announce the following transactions: * A new mortgage of $15,400,000 was placed by Meridian on a 305-unit multifamily building on Forest Avenue in Norristown, Pa. The loan f . . .

GCP Capital Group LLC.(FINANCE)
GCP Capital Group LLC is pleased to announce the following transactions: * $1,500,000 for a four-story walk-up apartment building containing 23 units, located on 83rd Street in Brooklyn, New York. . . .

Pergolis Swartz Associates, Inc.(FINANCE)(Brief article)
Pergolis Swartz Associates, Inc. is pleased to announce the following transactions: * A $4,500,000 permanent loan was co-brokered by Barry Swartz and Richard Pergolis for three five-story walk up . . .

Arbor Commercial Funding, LLC.(FINANCE)(Brief article)
Arbor Commercial Funding, LLC announced the recent funding of a $1,870,000 loan under the Fannie Mae DUS loan product line for the 42-unit property known as the Purdue Apartments in Baltimore, Md. T . . .

NorthMarq.(FINANCE)
Through its relationship with a regional bank, NorthMarq secured a $2,000,000 permanent loan secured by a subordinated ground lease to a good credit tenant. The seven-year loan was done at a fixed r . . .

Wilcox team closes $27m in financing.(FINANCE)(Brief article)
Q101 G.S. Wilcox & Co. has arranged financing in the amount of $27,100,000. The team of Gretchen S. Wilcox, President and Albert Raymond, Principal, recently arranged three loans in the amount of $2 . . .

HUD loan aids NYC hospital expansion.(FINANCE)
The U.S. Department of Housing and Urban Development announced a commitment to insure a mortgage loan for the Hospital for Special Surgery (HSS) in Manhattan, New York. The $79.3 million loan, which . . .

NCB's surprising year.(FINANCE)
NCB has exceeded expectations and arranged more than $143 million in financing for cooperatives and other residential properties nationwide in the first half of 2009. With many banks experiencing a . . .

HFF secures $47m for shopping center financing.(FINANCE)
The New York office of HFF (Holliday Fenoglio Fowler, L.P.) announced that it has secured $47 million in financing for Cortlandt Towne Center, a 640,000 s/f, regional shopping center in northwestern . . .

Senior notes being offered.(FINANCE)
Mack-Cali Realty Corporation announced that its operating partnership, Mack-Cali Realty, L.P. intends to commence a public offering of senior unsecured notes due 2019, subject to market and other cu . . .

CPC's $7m deal.(FINANCE)
The Community Preservation Corporation (CPC) and the New York City Department of Housing Preservation & Development (HPD) have provided a $7.6 million construction loan for the moderate renovation o . . .

Treeline bucks market trends; tops 159,000 s/f of leasing deals.
[ILLUSTRATION OMITTED] The Treeline Companies, an owner and manager of office properties throughout the New York metropolitan region, announced the completion of over 159,000 s/f of new leases and . . .

RICS: rental outlook bleak.(Royal Institution of Chartered Surveyors)(Brief article)
Despite some improvement in the economic data and a moderation in the pace of decline in capital values in all world regions, rental expectations deteriorated further, according to the latest RICS G . . .

Not so fast: Colliers: office market slump not as bad as anticipated.
A market report issued on Friday by the Manhattan real estate services firm Colliers ABR suggested that Manhattan may not lose as many jobs as originally anticipated and that, as a result, the offic . . .

Retail reinvents itself--once again.
As reported in the latest Beige Book, the Second District's (New York) economy has shown more signs of stabilizing in recent weeks. It went on to point out that "in Manhattan, the rental vacancy rat . . .

Midtown, Downtown leasing bouncing back.
Dramatic increases in Midtown and Downtown office leasing highlighted the Manhattan market in July, according to the monthly MarketView Snapshot issued by CB Richard Ellis. Midtown leasing activit . . .

Publisher expands at 40 Wall.
FirstService Williams, the New York region's hub of the world's fourth largest commercial real estate services firm, represented GDS Publishing, Inc., in a 20,240 s/f, long-term lease on the fifth f . . .

JLL sees $14m Q2 net loss.(Jones Lang LaSalle Inc.)(Financial report)
Jones Lang LaSalle reported a net loss of $14 million on a U.S. GAAP basis, or $0.40 per share, for the quarter ended June 30, 2009. Adjusting for Restructuring and certain non-cash co-investment ch . . .

JLL inks 2 deals.(Jones Lang LaSalle Inc.)(Brief article)
Jones Lang LaSalle has completed an early lease renewal and expansion for SEB Investment GmbH at 100 Manhattanville Road in Purchase, N.Y. Knight Capital Group Inc. renewed its direct lease for 14,1 . . .