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580,000 s/f union lease voted Most Ingenious Deal of 2017

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CBRE New York chief executive Mary Ann Tighe took home her eighth Most Ingenious Deal of the Year Award last night at the annual REBNY celebration to top dealmakers..

Tighe, along with colleague Ken Meyerson and Jonathan Serko of Cushman & Wakefield, was presented with the first prize Henry Hart Rice Achievement Award for “A Union of Rivals: CBRE and C&W Find 1199 a Home” at 498 Seventh Avenue.

The deal saw the two rival brokerage giants collaborate on a lease consolidating the offices of the nation’s biggest healtchare union in 580,000 s/f at 498 Seventh Avenue. The CBRE team repped the union while C&W negotiated on behalf of its fund operation.

The award was presented during the Real Estate Board of New York’s (REBNY) Sales Brokers Committee’s 74th Annual Cocktail Party at Club 101.

Mark Weiss and Richard Bernstein of Cushman & Wakefield won the second prize Robert T. Lawrence Memorial Award for “Repurposing a New Building While Addressing Manhattan’s Dearth of Dormitory Space” at One West End Avenue, also known as 625 West 59th Street.  This is the fourth REBNY Sales Brokers Most Ingenious Deal of the Year title awarded to Mark Weiss.

Geoffrey Newman of Newmark Knight Frank took home the third prize Edward S. Gordon Memorial Award for “Assembling An Icon – How One Broker’s Tenacity and Vision Made 45 East 22nd Street Possible” at 45 East 22nd Street.

“These highly complex commercial real estate deals required great vision, depth of market knowledge, and technical skill from each of the brokers to achieve these ingenious solutions,” said John H. Banks, REBNY president.

“We are proud to honor their exceptional accomplishments and recognize all of the submitting brokers’ outstanding work in navigating transactions that are important to our industry and our city.”

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Rubenstein, Vision land $97M acquistion loan

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NKF Capital Markets arranged a $97 million loan for Rubenstein Partners and Vision Real Estate Partners (VREP), secured through ACORE Capital LP, for the acquisition of Morris Corporate Center East & West in Parsippany, NJ.

The team was led by NKF Capital Markets’ co-heads, Debt & Structured Finance, Jordan Roeschlaub and Dustin Stolly, along with managing director Nick Scribani.

The financing facilitated the acquisition in addition to funding capital improvement upgrades to fully lease the buildings to future high-quality tenants.

Built between 2000 and 2001, the property is comprised of two four-story trophy office buildings totaling 702,707 s/f interconnected by signature glass atrium lobbies with the ability to separate into four components. The property features high-end finishes, a modern amenity package, fitness center, and landscaped grounds.

“The proximity to major thoroughfares and airports including Newark International Airport dramatically increase the attractiveness of the property to prospective tenants and workforce talent,” said Roeschlaub. “Working with the teams from Rubenstein, VREP, and ACORE created a great opportunity to take an already outstanding office product to a new level of sophistication in a diverse market,” added Stolly.

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Tamarkin secures $72M Highline loan

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Madison Realty Capital (MRC) closed a $72 million first mortgage loan collateralized by Highline Development Group’s nearly completed luxury condo in Chelsea.

Currently in the final stages of interior construction with completion expected midyear, 550 West 29th Street offers 19 luxury residential units and 5,022 s/f of premium retail/gallery space at grade.

The project team for 550 West 29th Street consists of Tamarkin Architecture P.C. as design architect, Ryder Construction as construction manager, CORE Real Estate as residential sales broker, and Manhattes Group as retail and gallery leasing agent.

“This is an excellent opportunity to finance an experienced developer working with a best-in-class project team toward completion and sellout of a stellar property,” said MRC principal Josh Zegen.

The property is located on 29th Street between 10th and 11th Avenues. The 19 residences range from 1,900 s/f, three-bedroom, three-bathroom units to 4,000 s/f, four-bedroom, 4.5-bathunits.

The ground floor retail/gallery space offers 75 feet of street frontage and ceiling heights exceeding 13 feet.

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SELLING POINTS: LIC hotel sold for $60M, Former Lucky Cheng’s spot goes for $12M

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● LIGHTSTONE
$60M LIC hotel purchase

Lightstone has purchased the Hilton Garden Inn on 41st Avenue for $60 million from a group headed by Sagamore Capital.
Western Bank Alliance issued a $35 million mortgage for the purchase of the property, according to city records.
Located on Queens Plaza, the 16-story hotel opened in 2015 and is just a few blocks away from Lightstone’s recently-constructed 428-unit luxury ARC development in Long Island City’s Dutch Kills section. It’s also a short distance from the Gantry Park Landing on the neighborhood’s waterfront.
The 183-key Hilton Garden Inn joins the company’s already robust hospitality portfolio, which totals nearly 4,000 rooms spread throughout 29 hotels in 19 states.
“We’re investing in growing our hospitality portfolio at all levels where we see value, and we see high potential in growing, transit accessible areas like Long Island City,” Lightstone president Mitchell Hochberg said.
“The Hilton Garden Inn is situated not only in a convenient location just 10 minutes from Midtown Manhattan, but also in a thriving creative neighborhood packed with culture, bars, restaurants, and globally connected businesses. It’s become a destination all in its own.”

● BARCEL GROUP
Silvershore closes record sale

Silvershore Properties has closed on a record Crown Heights deal.
The company sold the 53-unit 283 Albany Avenue to New Jersey based Shamco Management for $20.1 million.
The price reflects a gross rent multiple of 15 times, or $379,000 per unit and is one of the highest prices per unit ever achieved for a comparable property in this section of Crown Heights, according to broker Marcel Fridman, president of Barcel Group
Fridman represented both the seller and the buyer of the property, which was built in 1941 and includes a cell tower.

● EPIC COMMERCIAL REALTY
Rybak buys Lucky Chengʼs

Rybak Development Group has purchased the former Lucky Chengʼs drag caberet building in the East Village for $12.25 million.
EPIC Commercial Realty brokered the sale of the the L-shaped assemblage at 24 1stAvenue and 99 East 2nd Street.
The assemblage offers 20,000 buildable square feet and it can be developed with or without the inclusionary housing air rights providing between 19,000 and 22,000 s/f, according to Shay Zach, senior associate broker at Epic who brokered the trade.
Zach brought the deal to contract within 10 days after a failed auction effort by seller, Uri Marrache of Carmar Development earlier this year.

● HFF
Kushner buys NJ rental complex

Kushner Companies has purchased a 360-unit apartment complex in Hackensack, NJ, in a deal north of $100 million, according to reports.
Holliday Fenoglio Fowler, L.P. (HFF) announced the sale of Prospect Place, a two-building luxury rental property located at 300 and 310 Prospect Avenue in Hackensack.
The HFF team marketed the property exclusively on behalf of seller. Kushner Companies purchased the property free and clear of existing debt, according to HFF, which decleined to confirm the sale price.
Prospect Place consists of an 18-story high-rise comprising 157 units and a four-story mid-rise building comprising 203 units. CThe property has a pool and sundeck, landscaped courtyard, fitness centers, billiards room, resident lounges, concierge service and 653 covered parking spaces. It was 96 percent occupied at the time of sale.
The HFF investment advisory team representing the seller included Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval.

● MERIDIAN
$23M for Coney Island building

Meridian Investment Sales sold a newly renovated commercial building in Coney Island for $23 million.
David Schechtman and Rich Velotta represented the seller and procured the buyer of 2857 West 8th Street in the West Brighton neighborhood.
The two-story commercial property is 52,302 s/f and is fully leased to a variety of tenants, including New York City Human Resources Administration, Blink Fitness, Dollar Tree, and New York University Langone. Verizon also has a cell and GPS tower located on the roof.
“The asset was entirely renovated and provides the buyer with an essentially brand new, institutional quality commercial asset at a competitive cap rate with stable and consistent rent growth,” said Velotta.

● TERRA CRG
Upside in Boerum Hill

TerraCRG announced the sale of 103-111 Smith Street in Boerum Hill for $15 million.
Adam Hess, Edward Setton, Aaron Birns and Cameron Parsa closed the deal at $756 psf, representing a 3.3 percent cap rate and 19 times GRM.
The four-story building is comprised of 24 residential units and four commercial units. This deal also included a corner 1,600 s/f parking lot.
“This building represented a great opportunity for the purchaser with significant upside in both the residential and commercial income. The metrics of the sale are further testament to the continued strength of Brooklyn’s residential and retail markets,” said Hess, a partner at TerraCRG.

● MARCUS & MILLICHAP
Affordable housing deal closes at $17M

Marcus & Millichap announced the sale of West Bridge Associates Portfolio, a six-building package located on 151st street and 152nd streets between Broadway and Amsterdam, for $16,850,000.
The properties are entering their second phase of a 30-year Housing Presentation and Development regulatory agreement. There is approximately a $6 million Housing Preservation and Development loan outstanding.
Seth Glasser, Peter Von Der Ahe, Joe Koicim and Jacob Kahn, of Marcus & Millichap’s Manhattan office, represented the seller, a private investor, and procured the buyer, also a private investor.
“This was an affordable housing preservation deal.” said Glasser, “The buyer extended the existing regulatory agreements to maintain the preservation status.”

● LEE & ASSOCIATES
Blumenbergs buy industrial facility

The New Jersey office of Lee & Associates announced the sale of 50-52 Fadem Road in Springfield, a modern, 207,000 s/f industrial facility on 10-plus acres.
Rick Marchisio, Crista Bartolomeo and Drew Maffey repped both sides in the $15.5 million deal. Tuli Blumenberg and Duvi Blumenberg were the buyers.
The building hosts a solid tenant roster, and is occupied by SAS Graphics/2XL Imaging and Ring Container.
Situated just off Route 22 in Springfield, the facility has tool free access to Port Newark. Ceiling heights range from 22 to 32 ft and the property has multiple loading docks and executive office space.

● MARCUS & MILLICHAP
Equity Residential sells UES building

Brooklyn-based Hampshire Properties has closed on the $86 million purchase of 420 East 80th Street, a 13-story, 155-unit apartment building on the Upper East Side.
Marcus & Millichap brokered the sale on behalf of Equity Residential, which had owned the property since 2006 when it paid $62 million for the 112,204- rentable-square-foot building.
Built in 1961, 420 East 80th Street was purchased by Hampshire Properties after securing a $43 million mortgage from Signature Bank, according to city records.
“Our team targeted local New York buyers who would underwrite the property aggressively,” said Eric Michael Anton of Marcus & Millichap’s Manhattan office. “We pinpointed several value-add firms that were very enthusiastic about the potential upside and created a competitive bidding environment. ”

● URSTADT BIDDLE PROPERTIES
Tanglewood shopping center sold

Urstadt Biddle Properties has acquired the Tanglewood Shopping Center in Yonkers, NY.
Tanglewood is a 27,000 s/f center consisting of two retail buildings. The primary building, which fronts Central Park Avenue, c is anchored by a new AutoZone. The secondary building consists of approximately 4,700 s/f and is tenanted by CKO Kickboxing, a nail salon and a market. The property is currently 100 percent leased.
Tanglewood was built in 1954 and expanded in 2005 when the prior owners acquired the adjacent shopping center (formerly known as the Crisfield Shopping Center) and integrated that property with Tanglewood.
The property is located at the intersection of Central Park Avenue and Crisfield Street in northeast Yonkers, between UBP’s two other Central Park Avenue Shopping Centers, the Midway and McLean Plaza. In addition, UBP’s Shoppes at Eastchester and Eastchester Plaza are both located within two miles.
James Aries, senior vice president of acquisitions, noted, “We are thrilled to have acquired Tanglewood – the culmination of a relationship with the owners that began over 15 years ago. Tanglewood is one of the first shopping centers in lower-NY, developed by Len Farber, a shopping center pioneer and a founding member of the ICSC trade organization. We are proud to be the recipient of its first and only trade. We continue to pursue shopping centers in suburban New York City with high barriers to entry.”

● CBRE
Tarrytown apartments fetch $91M

Talleyrand Apartments, a 300-unit multifamily community located in Tarrytown, N.Y., has been sold for $91 million.
CBRE announced that Jeffrey Dunne, Gene Pride and Eric Apfel represented the seller, a U.S.-based REIT, in the sale to an affiliate of The DSF Group.
“There was strong demand for the offering given the fantastic location in Tarrytown,” said Dunne. “The DSF Group will do very well with the asset, as they have a great track record of creating value with similar opportunities. Purchasing the Talleyrand Apartments is a logical expansion of their current Westchester portfolio.”
Josh Solomon, President of DSF, said, “We are excited to further expand our presence within the metro New York market, and we look forward to bringing our amenity-rich Halstead brand to Tarrytown.”

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TRANSACTIONS: Meridian inks $12.7M loan, GCP secures $10M loan in Jersey

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Meridian Capital announced the following transactions:

• A new mortgage of $12,706,000 on a 46-unit multifamily property located on Middletown Road in the Bronx, NY. The loan features a rate of 3.625% and a seven-year term. Eli Serebrowski and Jacob Schmuckler negotiated this transaction.

• A new mortgage of $7,000,000 on a 72-unit cooperative property located on Broadway in New York, NY. The loan features a rate of 3.625% and a 10-year term. This transaction was negotiated by Avi Geller and Nicoletta M. Pagnotta.

• Two new mortgages in the total amount of $9,400,000 on two mixed-use properties located on St Nicholas Avenue in New York, NY. The loans feature rates of 3.625% and five-year terms. Michael Kesselman and Kerry Brick negotiated this transaction.

• A new mortgage of $5,000,000 on an 80-unit cooperative property located on East 77th Street in New York, NY. The loan features a rate of 3.625% and a 10-year term. This transaction was negotiated by Steve Geller and Nicoletta M. Pagnotta.

• A new mortgage in the amount of $4,000,000 on a 23-unit multifamily property located on West 100th Street in New York, NY. The loan features a rate of 3.625% and a five-year term. Jacob Rochlitz and Morris Diamant negotiated this transaction.

• A new mortgage of $645,000 on a single-unit multifamily property located on Groshon Avenue in Yonkers, NY. The loan features a rate of 3.50% and a three-year term. This transaction was negotiated by Morris Diamant and Tzvi Krieger.

•••

GCP Capital Group arranged mortgage financing for the following properties:

• $5,420,000 for two two-story garden apartment buildings containing a total of 44 units, located in Little Ferry, New Jersey. Stephen Katz arranged the financing.

• $5,000,000 for a three-story loft-office building comprised of 29,360 square feet, located on Meadow Street in Brooklyn. David Sessa arranged the financing.

• $4,070,000 for a six-story multifamily apartment building containing 96 units, located on 19th Avenue in Brooklyn, New York. Paul Greenbaum arranged the financing.

• $3,850,000 for a five-story multifamily apartment building containing 35 units, located on Kossuth Avenue in the Bronx, New York. Adam Brostovski arranged the financing.

• $3,100,000 for a four-story multifamily apartment building containing 9 units, located in the Bedford-Stuyvesant neighborhood of Brooklyn. George Spanos arranged the financing for this transaction.

• $10,000,000 for a seven-story office/commercial building containing 56,750 square feet of office space and 6,250 square feet of ground floor commercial space, located in Jersey City, New Jersey. Paul Greenbaum arranged the financing for this transaction.

• $8,500,000 for a six-story mixed-use building containing five apartments and approximately 4,500 square feet of ground floor retail space, located on East 80th Street in Manhattan. Matthew Albano arranged the financing.

• $3,750,000 for a five-story multifamily apartment building containing 35 units, located on Walton Avenue in the Bronx. Adam Brostovski arranged the financing.

• $3,425,000 for two contiguous four-story multifamily apartment buildings containing a total of 16 units, located on St. Marks Avenue in Brooklyn. Matthew Classi arranged the financing.

• $2,300,000 blanket financing for a one-story, single tenant commercial building comprised of 3,450 square feet, located in Hicksville and a gas station with a one-story convenience store comprised of 2,400 square feet, located in Bethpage. David Sessa arranged the financing.

•••

Progress Capital announced the following transactions:

• A $5,265,000 non-recourse permanent mortgage for West of Hudson Properties’ purchase of a two-building 70-unit apartment complex at 10-36 Osborne Terrace and 9 Hedden Terrace in Newark, NJ. The loan is five years interest-only at a fixed rate of 3.86%. The loan represents a 65% Loan to Purchase Price accompanied by a 20 year term and 30 year amortization. After the 5 year interest-only period the rate will reset at 6 month LIBOR + 3.25%. In addition, The borrower will adhere to a 3-1-0-0-0 declining prepayment schedule. Progress Capital’s Brad Domenico arranged the transaction.

Brad Domenico negotiated $3,600,000 in the refinance of the 2-story 26,182 s/f retail building located at 134-140 Smith Street in Perth Amboy. At the time of the refinance the borrower had just completed the fit-out for ‘Blink Fitness’ to occupy the second floor space under a 15 year lease agreement. The proceeds will be utilized to retire existing debt on the property and recapture $1,666,000 in equity that will fuel the borrowers continued acquisitions of retail, mixed-use and multifamily buildings throughout New Jersey. This loan represent a 65% loan to value and is accompanied by a 7 year fixed rate of 4.25% amortized over 30 years with a five year extension option.

•••

G.S. Wilcox & Co. secured $9,850,000 in financing for three flex buildings located in the Allaire Corporate Campus in Wall Township, New Jersey. The financing, arranged by David Fryer, was secured on a 10 -year term through Thrivent Financial for Lutherans, one of the firm’s correspondent lenders. The three assets were 100% leased to three tenants with several years remaining on each lease.

•••

Emerald Creek announced the following transactions:

• A $4,000,000 acquisition loan in Mooresville, NC. The subject property is a shopping center with 17 retail suites across 44,245 SF of gross leasable area. The loan was originated by managing director Jeff Seidler.

• A $3,700,000 acquisition and building loan in the Carroll Gardens neighborhood of Brooklyn, NY. The subject property is a three-story townhouse that will upon completion will contain four condominium units totaling 5,445 SF. The loan was originated by Jeff Seidler.

• A $2,000,000 refinance in downtown Brooklyn NY secured by a 21,780 SF parking garage within a luxury residential tower. The loan was originated by Jeff Seidler.

• A $7,400,000 refinance in Williamsburg, Brooklyn. The property is a four-story mixed-use building with 17 residential units and 3 commercial units. The loan was originated by managing director Mike Cleaver and arranged by Meridian Capital Group.

• A $6,500,000 refinance in downtown Pittsburgh, PA. The subject property is a 25-story office building containing 114,883 SF of net rentable area. The loan was originated by Mike Cleaver.

•••

Washington Trust’s Commercial Real Estate Group provided $2.7 million for the refinancing of a multi-tenant flex commercial property in Wallingford, Connecticut. The one-story building includes 41,284 s/f of office and industrial space located directly off of Interstate-91, within Barnes Industrial Park in Wallingford. Julia Anne M. Slom, senior vice president & Team Leader made the announcement.

•••

W Financial has provided the following bridge loans which were handled by Jarret Schochet, David Heiden, Andrew Singer and TJ Randall:

• A $1,000,000 bridge loan utilized to acquire three contiguous buildings located in a Boston suburb. Our collateral consists of twenty residential units and two commercial units. The borrower required a bridge loan in order to facilitate a time-of-the-essence closing and plans to refinance W’s bridge loan with conventional bank financing in the near future.

• A $600,000 acquisition loan for the purchase of a condominium unit located in a full-service, luxury condominium building in the Gramercy Park neighborhood of Manhattan. The borrower required a bridge loan in order to facilitate a time-of-the-essence closing.

• A $4,950,000 net position in a first mortgage bridge loan secured by a two-story, approximately 2,200 s/f, two-story commercial building on Lexington Avenue between 79th and 78th Streets on the Upper East Side of Manhattan. The property is envisioned as one component of an assemblage for future development. The borrower is seeking to acquire neighboring parcels and additional development rights in order to enhance the overall development potential of the site/assemblage. The borrower plans to repay the W Financial bridge loan upon the eventual sale of the completed assemblage or upon the closing of a construction loan once his development plans have been completed and approved.

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AMAC to reposition LES property with $47M Raymond James renovation loan

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Meridian Capital Group arranged $42 million in financing for the acquisition and renovation of a multifamily property on the Lower East Side, on behalf of AMAC Holdings.

The seven-year loan, provided by a balance sheet lender, features a competitive rate and three years of interest-only payments, followed by a 30-year amortization schedule.

Meridian Senior Managing Director Tal Bar-Or, and Vice President Richard Sutton, who are both based in the company’s New York City headquarters, negotiated the financing in this transaction.

The eight-story property, located at 10 Rutgers Street, features 83 units and is located at the intersection of the Lower East Side and Two Bridges neighborhoods, directly across the street from Seward Park.

AMAC Holdings, has plans to substantially reposition the property through an extensive renovation.
“We are proud to have matched AMAC with Raymond James to provide a highly tailored solution that will act as a blueprint for a successful relationship going forward,” said Bar-Or.

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MLK arranges joint venture, bridge loan for New Jersey office park acquisition

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MLK Real Estate Capital arranged a Joint Venture and $27.13 million of bridge financing for the acquisition of Mount Kemble Office Park in Morristown, New Jersey.

The 230,000 s/f class-A office space is located across two buildings at 350-360 Mount Kemble.
MLK represented The Birch Group, a New York-based real estate operator, and arranged for Joint Venture between Birch Group and Vision Properties, which will be managing the property on a day-to-day basis.

Los Angeles-based Thorofare Capital, through its private debt platform provided $27,130,500 in intermediate-term, first mortgage debt.

The property was acquired for $35 million and is currently 81 percent occupied by a tenant base with a weighted average lease term of seven years.

The sponsor plans to lease the remaining available space by investing in capital expenditures and tenant improvements at the property.

MLK’s managing principal Solomon Kinraich commented, “This was a compelling transaction for us to represent due to the attractive in-place tenant mix secured by long term leases, very favorable demographics of the office submarket in Morristown and value-add business plan that will be implemented by the new ownership group.”

Felix Gutnikov, Head of Origination at Thorofare Capital, said, “We were attracted to opportunity given the local expertise and hands-on management capabilities of Vision Group, led by Fred Arena, combined with the balance of ample existing cash-flow, minimal near-term rollover risk and additional upside through leasing of nearly 40,000 square feet in this high quality asset.

“We have significant capacity to grow our loan portfolio by competitively pricing deals like this, where experienced sponsors are executing value-add business plans for well-located transitional properties.”

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Meridian wraps up $23M for Box Hotel refinance

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Meridian Capital Group arranged $23.5 million in financing for the refinance of the Box House Hotel in Brooklyn, NY.

The loan, provided by a balance sheet lender, features interest-only payments and was negotiated by senior Managing director Cary Pollack, and vice president Judah Neuman.

The Box House Hotel is a four-story, 130-key property located at 77 Box Street in Greenpoint.

The sponsor redeveloped the property from a warehouse space into a hotel in 2012 and recently completed the addition of three additional floors, including 71 new rooms and a unique rooftop event space with breathtaking views of the Manhattan skyline.

“We are pleased to have worked with the lender and sponsor closely to arrange financing that enables ownership to achieve its business plan for this one-of-a-kind boutique hotel,” said Pollack.

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Chinese venture capital firm signs lease on Billionaires’ Row

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ToJoy Holding Company, a Beijing-based venture capital firm, signed a lease for the entire 10th floor at 145 East 57th Street. The nearly 4,400-square-foot space is the company’s first foray into the US.

The buyer was represented by ABS Partners Real Estate and the building’s leasing is being led by ABS’ John Brod, Robert Finkelstein and Alex Kaskel. Connie Lu from Keller Williams represented ToJoy.

“We are pleased to welcome ToJoy to 145 East 57 th Street,” Brod said. “They have a tremendous pedigree in the financial arena and will perfectly complement our existing roster of top tier tenants. We will continue to bring custom-designed spaces with the highest end finishes to the market.”

ToJoy is known for being the largest franchise business accelerator platforms in China and operates 48 wholly and majority owned subsidiaries across 31 provinces in China and has invested in over 100 joint-venture companies.

ToJoy’s lease follows shortly after another recent deal at 145 East 57th Street where private equity firm Speyside Equity signed a 2,650-square-foot for the penthouse level.  The 12-story building hosts 64,000 square feet of office space along East 57th Street between Lexington and Third Avenues, in an area known as Billionaires’ Row for its ultra-luxury buildings.

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A&E closes on $287M Stonehenge Village acquisition

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Rosewood Realty Group announced the $287 million sale of a 420-unit, three-building Upper West Side rental complex known as Stonehenge Village – more than $100 million above its previously reported price. The closing equates to about $683,000 per door.

AARON JUNGREIS

Aaron Jungreis of Rosewood Realty represented both the buyer, A & E Real Estate Holdings, a midtown-based multi-family investment firm and the seller, Ofer Yardeni’s Stonehenge Partners who have owned he complex since 2005  in partnership with SL Green Realty and Ivanhoe Cambridge, when it paid $115 million.

To help close the deal, A& E secured new debt- north of $145 million in fixed-rate acquisition financing from Signature Bank and Mesa West Capital, according to sources.

The buildings, built in 1968, total 69,605 square feet. The package sold for 18.9 times the annual rent roll at a 3.4 percent cap rate.

According to Jungreis, A & E is planning a long-term hold on the complex. The properties are 98 percent occupied, with a mix of free-market and rent-stabilized tenants. The complex has frontage on West 96th  and 97th Streets and Amsterdam Avenue in the Upper West Side’s Manhattan Valley neighborhood.

“The property has below market rents and is located near all shopping, universities and excellent  transportation,” added Jungreis. “ Also the close proximity to the parks gives the buildings a strong attraction for tenants who enjoy the outdoors.”

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REIT boss Silverstein sees value in paying it forward

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Later this year, when the last of New York REIT’s assets is sold off, Wendy Silverstein will be out a job — and she’s okay with that.

After a three-decade run that saw her rise from working out distressed assets to leading acquisitions at one of the city’s biggest firms and, now, liquidating a publicly-traded company, Silverstein is ready to wait for the next great opportunity to come along. Or not. After all, she has enough on her plate grooming the next generation of female real estate leaders.

“I had some very good women mentors while I was at Citibank,” Silverstein said. “It’s something I learned at an early age that I appreciated and I knew that when I was in a position to pay it forward I would and I’d take it very seriously.

“Now, I am involved in mentoring literally every week,” she said, “in some way shape or form.”

Having mentored dozens of professionals and created opportunities for countless other girls and young women through her charitable works, Silverstein has been selected as the keynote speaker for the Real Estate Weekly Women’s Forum on June 5 at the New York City Bar Association.

During her speech, Silverstein will address this year’s theme, making women’s voices heard, as well as her tough-love approach to work and mentorship.

After earning a Bachelor of Science in Economics at the University of Pennsylvania’s Wharton School—where she later earned her Master’s in Business Administration—Silverstein began her career with a 12-year stint at Citibank, where she specialized in leveraged buyouts and debt restructuring.

“I learned the real estate business from the inside out,” she said. “Doing workouts, you learn really how something works when it’s falling apart and you need to put it back together.”

Coming up the ranks at a time when speaking out was not the norm in the business world — particularly for women in real estate — Silverstein said she was gender blind during early years. It wasn’t until recently that she realized how often she was the only woman in the room. In that environment, she learned quickly to be her own advocate.

“I never had trouble finding my voice, that’s the god’s honest truth,” she said. “People say how do you make your way to the top, the short answer is, it’s very hard work and you can’t quit. That’s it.”

In 1998, she moved on to Vornado Realty Trust where she served as Executive Vice President and Head of Capital Markets and later Co-Head of Acquisitions and Capital Markets before leaving the firm in 2015. When she was offered the CEO role at New York REIT, she said it lined up well with her interests.

“Most people with my background and experience weren’t available to take what would be a 12 to 18 month job as the CEO of a public company,” she said. “For me, I was perfectly well suited to do it and I wasn’t looking for a long-term position, so it was a perfect fit.”

Silverstein said the liquidation process will wrap up soon, though she declined to provide a specific timeline. As for what she’d like to do next: “Whatever I find interesting, if and when it comes along.”

Once her current job wraps up, she said she looks forward to stepping out of the spotlight and focusing on what she describes as a “grassroots” effort to empower women in real estate.

Recent political trends have brought women in the workplace to the forefront of the public’s conscience, but Silverstein credits the generation of women that came before her with laying the groundwork for her peers and the women who’ve followed.

“The generation of women before me were truly the groundbreakers and for them, I think they first had to learn how to support each other and then they were willing to mentor younger women,” she said. “For my generation, it was much easier and more natural to support each other.

“Of course, being the beneficiary of women mentors, I was always very motivated and interested in making sure I could pay it forward, so to speak, and be a mentor myself,” she continued.

While Silverstein wants to help as many women as she can, she said it’s important for them to show that they have the ability to help themselves. Put more simply: “If someone wants to whine and complain, I don’t have time for that.”

Once she’s determined that someone can pass muster, she said she backs them completely. “If someone who is hardworking needs guidance and direction, not only will I help them think through where they want to go and how they should get there, but I will sponsor them,” she said. “I will try to make introductions, give them recommendations and support. I take that extremely seriously.”

Silverstein right) is a mentor for students at the Zell/Lurie Real Estate Center at the Wharton School.                               Photo via Zell/Lurie Real Estate Center newsletter

Although female participation is up throughout all levels of the industry, she said there are still barriers that prevent women from reaching the highest echelons of real estate world.

Although she doesn’t claim to have all the answers, Silverstein said real estate, like most highly competitive fields, could do a better job of helping women achieve a balance between their personal and professional lives.

“The industries that are making the accommodations are the ones that are going to succeed in retaining women,” she said. “It’s really just about having flexibility for work schedules and when you have to be in the office versus being able to get your work done wherever you are.”

In addition to sponsoring women in the professional world, Silverstein also tries to leverage her success into assisting women in other walks of life, particularly through her participation in Beit Ruth, a charitable organization that supports girls and young women in Israel, many of whom are the victims of abuse and sexual assault. As an executive board member and treasurer of the organization, Silverstein believes Beit Ruth gives these women a new shot at life, thus setting up future generations for success.

“To the extent that you can take a girl who is from a bad situation and get to them at an early enough age by giving them not only a safe, warm and loving home environment but strong education and the therapy that they need, you can turn them around and change their lives and also change the future of what would be the next generation’s lives because these women will become good mothers as opposed to not making it, or continuing a cycle of abuse and not being able to be productive citizens,” Silverstein said. “Not everyone we try to help is successful, but the vast majority of them are, so that’s extremely, extremely rewarding.”

Silverstein will keynote the 7th annual REW Women’s Forum at the Bar Association on June 5, 2018. For details visit www.rew-womens-forum.com

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LEASES: Kent State fashion school renews and expands on 39th Street; Presidential hopeful leases 1,500 s/f near Times Square

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NEW YORK

Handler Real Estate Organization announced the following leases:

• A long-term, 6,000 s/f renewal and expansion with the Fashion School at Kent State University occupying space at Handler’s recently repositioned 315 West 39th Street. The Fashion School at Kent State University, which has expanded by 1,500 s/f in the building, will now occupy space on the third and fourth floors. Ownership was represented by Handler CEO and Principal Scott Galin along with EVP Darell Handler and Associate Helen Kim.

• Fashion and apparel company Hansae Co., Ltd. has relocated its U.S. headquarters, signing a long-term lease at 561 7th Avenue. The South Korean firm will occupy the entire 4,000 s/f fourth floor in the Handler-owned property, which will serve as Hansae’s office and showroom. Relocating from the Penn Station market, Hansae is set to occupy its new U.S. headquarters pending build-out of the space. Scott Galin, along with Richard Farley and Darell Handler, represented ownership in the new transaction. Justin Haber and Kyle Riker, of JLL, represented Hansae in the transaction.

•••

HSP Real Estate Group, a member of NAI Global, announced the following leases:

• Evan Lieberman, Senior Director, and Michael Dylan, Inceptum Inc., arranged a lease for potential 2020 Democratic presidential candidate, Andrew Yang, at 214 West 39th Street. The 1,500 s/f space is minutes away from Hudson Yards and major transportation hubs. The landlord, Granite Management, was represented by Ernie Vallorano. Asking rent was $49 psf.

• Howard Epstein, director of leasing, arranged a lease renewal for Ducson Imports Inc., a wholesale shoe importer, at 37 West 39th Street. The five-year extension is for the company’s 1,000 s/f space and will begin September 1, 2018 after the current lease expires on August 31. Epstein represented both tenant and landlord, BWW 39 Co. The asking price was $52-psf.

•••

Lee & Associates NYC announced that Dennis Someck, Justin Myers, Zachary Steinberg and Aidan Velle negotiated a 3,155 s/f lease at 285 Lafayette Street for the first retail location of Inked, a high-end tattoo parlor that is a division of Quadra Media. The lease term is eight years. Inked is a tattoo lifestyle digital media company that covers music, fashion, art and sports. The magazine debuted in 2004 and has nearly 1.2 million readers with a median age of 28. Inked is moving to Soho from 12 West 27th Street, where they previously occupied an office space. In their flagship retail location, they will host famous tattoo artists for residencies. The landlord, 285 Lafayette Realty was represented by Albert Cohen at Centurion Realty.

•••

Cushman & Wakefield arranged a long-term, 5,183 s/f lease renewal for The Institute of International Bankers (The IIB) at Fisher Brothers’ 299 Park Avenue. The IIB will relocate on the 17th floor of the property, where it will maintain its headquarters through 2029. Jonathan Schindler, Aron Schreier and David Mainthow represented the tenant. Fisher Brothers was represented in-house by Marc S. Packman and Charles P. Laginestra.

•••

The William Kaufman Organization has signed five new leases for pre-built office suites at 747 Third Avenue. Michael I. Lenchner, Vice President and Director of Leasing of Sage Realty Corporation, represented building ownership in all five transactions:

• Award-winning ad agency and production company The Vault NYC lease 3,049 s/f and investment firm ROAM Global Management took 3,059 s/f. Daniel Madison of Newmark Knight Frank represented ROAM Global Management. Erik S. Harris of Newmark Knight Frank represented The Vault NYC LLC in the five-year transaction.

• Executive search services firm Whitney Partners LLC is taking an additional 2,223 s/f on the 17th floor, bringing its total presence to 5,246 s/f at the property. The tenant has been housed at 747 Third Avenue since 2012 and plans to expand later this year.

• Private debt asset manager PSC Eaglewood Americas LLC is relocating to a 3,835 s/f unit on the 19th floor. The firm is currently located at 350 Park Avenue and expects to move to 747 Third Avenue later this spring. Daniel Madison of Newmark Knight Frank represented the tenant.

• Law firm Fischetti & Malgieri LLP – led by prominent criminal defense lawyer Ronald P. Fischetti – has renewed its 4,634 s/f lease on a portion of the 20th floor.

CONNECTICUT

Webster Bank has leased 25,000 s/f of office space at 200 Elm Street in Stamford, CT. 200 Elm Street is a Class A office property located in downtown Stamford CT and owned by Building and Land Technology (BLT). BLT has leased over 250,000 square feet of office space at 200 Elm in less than 18 months, including approximately 200,000 s/f to tenants that are new to the Stamford market. Ed Tonnessen of JLL represented Webster Bank in the transaction.

NEW JERSEY

NAI James E. Hanson brokered the lease for 3,770 S/F of office space at 23-00 Route 208 in Fair Lawn. Darren Lizzack, Randy Horning and Michael Guerra represented the landlord, 2300 Rt. 208 LLC., and the lessee, River Drive Companies, a newly formed real estate services company.

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2018’s RISING STARS OF REAL ESTATE

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JOHN ALTIERI

JOHN ALTIERI
CUSHMAN & WAKEFIELD
John Altieri is an Associate in the Stamford, CT office. John is currently focused on tenant and landlord representation services in the office leasing market in Fairfield and Westchester Counties. Over the last few years, John has represented some of the largest landlords in the market including Kensico Properties and Tishman Speyer Properties. John is also an active member of Cushman & Wakefield’s Tenant Advisory Group.
Along with his work in brokerage, John was nominated as the local chair member of Cushman & Wakefield’s Future Leader’s Program (CWFL), a network of rising professionals within the firm committed to continuing education, collaboration, and community service.

John has a B.A. in Business Administration from Loyola Marymount University.

OSAYAMEN ASEMOTA-BARTHOLOMEW,
REAP
Osayamen recently launched a highly successful REAP program in Kansas City, Missouri, making it the ninth metropolitan market to feature a program. The media cheered the launch as a “new diversity program literally aimed at changing the face of Kansas City’s commercial real estate (CRE) and development industry.” The KC program has already helped its graduates find employment in CRE.
In Osayamen Bartholomew’s five years with Project REAP, and one year as associate program director, she has been responsible for launching successful new programs in Kansas City, Dallas, and Columbus, Ohio, as well as running, in conjunction with local committees, fall and spring 10-week courses in many of the nation’s major urban centers including New York City; Washington, D.C.; Atlanta and LA.

OSAYAMEN BARTHOLOMEW

Each year, she helps locate distinguished faculty members and, together with the executive director, oversees programs and monitors the progress of 75 to 100 new students.
Her work with REAP takes her nationwide to meet with local administrators, aid them in setting up and managing programs and recruiting students, all highly distinguished college graduates with 1 -5 years of professional work in varied disciplines; many with graduate and/or professional degrees.
REAP Chair Lamont Blackstone says: “Osa Bartholomew has played a pivotal role in REAP’s growth as the leading diversity initiative exclusively focused on serving the commercial real estate industry. For many of REAP’s alumni, she has served as the face of a program that has helped to connect them to seasoned industry professionals in the classroom and at CRE organizations.”
For information on REAP classes, visit www.projectreap.org

DOUGLAS ATKINS
FORACHELLI, DEEGAN & TERRANA, LLP
Douglas W. Atkins concentrates his practice in the specialty area of property tax refund and reduction, commonly known as tax certiorari. He has extensive experience in property tax reduction proceedings for all types of commercial real estate throughout New York State. Mr. Atkins also regularly advises property owners and municipalities on the negotiation and tax impact of Industrial Development Agency PILOT agreements.

DOUGLAS ATKINS

He is a frequent lecturer and writer on the topics of commercial property tax and valuation. He has been published in the New York Real Estate Journal, the New York Law Journal, the Suffolk County Lawyer, and various local publications.
For his accomplishments and achievements in the business community, Doug was selected as one of Long Island’s top 30 young professionals by the Huntington Township Chamber of Commerce in 2010. Since 2011, Doug has been annually selected as a Rising Star by New York SuperLawyers. The Long Island Business News awarded him with both the Leadership in Law award and the prestigious Long Island 40-Under-40 award.
Mr. Atkins has successfully completed both commercial and residential real estate appraisal courses through the Columbia Society of Real Estate Appraisers. He is a 2005 graduate of Brooklyn Law School.

PATRICIA AVELLA,
AKAM SALES & BROKERAGE

PATRICIA AVELLA

A native New Yorker, Patti came to real estate after a long and successful career on Wall Street. Having lived in just about every neighborhood in the city, she can give expert advice and direction to her agents. She spent her first few years in real estate as an agent, which gives her a unique prospective when relating to her agents. Patti spent 10+ as a sales manager at one of the city’s largest firms. While there, she became involved in training and agent education. She is passionate about creating and developing professional agents.
Knowledgeable about all aspects of residential real estate, renting, buying, and selling, Patti is excited to be a part of the AKAM Sales and Brokerage team.

 

POLINA BAKHTEIAROV
NYC HOUSING AUTHORITY
Polina currently serves as the New York City Housing Authority’s (NYCHA) Deputy Director for Real Estate Development where she leads the Preservation Team in repositioning 20,000 distressed public housing units via subsidy conversion to Section 8; this allows NYCHA and its development partners to raise financing to address $4 billion in unmet capital needs, equaling 15% of the national public housing

POLINA BAKHTEIAROV

maintenance backlog and the largest residential preservation pipeline in the U.S.
Prior to joining NYCHA in 2016, Polina served on the economic development team for the Mayor of the District of Columbia. Her previous professional experience includes leading redevelopment and community asset building and organizing projects in Lawrence, MA and New Orleans, LA. Polina earned bachelor of science degrees in urban planning and civil engineering, as well as a master’s degree in city planning, from the Massachusetts Institute of Technology (MIT).

WILLIAM BANEY
BELKIN BURDEN WENIG
& GOLDMAN, LLP

WILL BANEY

William E. Baney joined Belkin Burden Wenig & Goldman, LLP in 2015 as an Associate in the Litigation Department.
Mr. Baney handles a wide array of real estate and commercial litigation in both the Civil Court and Supreme Court, specializing in complex landlord & tenant disputes involving non-primary residence, rent overcharge claims, breach of lease, 421(g) and DHCR issues.
Mr. Baney earned his Juris Doctorate from New York Law School in 2011 and graduated from Lock Haven University of Pennsylvania in 2008 with a Bachelor of Arts in political science.

ROBERT BARR
RUTENBERG
Robert’s mission is to work hard and take care of every real estate client as if they are family. He is always engaged and hands-on throughout the entire process, making himself available at all times – even for matters beyond the scope of the transaction. Specializing in sales and

ROBERT BARR

rentals in Manhattan, Robert is a member of the Berkin Team headed by Stefani Berkin, Rutenberg’s president. He has worked in real estate since graduating from college, inspired by a deep passion for the business. “My approach to real estate involves listening to and educating clients each step of the way. This job goes way beyond merely showing homes; it involves being a market navigator, solutions provider, skilled negotiator, and advisor on the best deal and investment for a client’s needs. Whether you’re seeking a home or selling a special property, quality service and personal attention come first when you hire me.”
Outside of real estate, he is an avid fitness enthusiast and Licensed Personal Trainer who has competed at high levels in both MMA and weight-lifting. Dearest to his heart is working with the Special Olympics, giving time as a volunteer.

LOUIS BAUGIER
SURECAVE

LOUIS BAUGIER

Louis Baugier, 28, is a rising star in the real estate industry where he recently launched Surecave, surecave.com, a NYC-based real estate technology company that has developed an app that allows landlords/ property owners to better manage their business — everything from finding tenants to managing multiple properties and even allows renters to pay rent in cryptocurrencies.
Under his leadership, the company has raised over one million dollars from real estate companies that include First Midwest Group, TransUnion, Remax and Silverback Development, an active New York City development company and other venture capital firms.
Surecave’s proprietary software enables property owners/managers to better communicate in real-time with tenants. “Today’s renters demand a better rental experience,” said Baugier. ”Today there are one-click purchases on Amazon. We need a one-click rent, or at least a seamless way for managers and tenants to communicate with one another.”
Baugier grew up in Greenwich, Connecticut before graduating from Tulane University with a dual bachelor’s degree in finance and French literature where he was an All-American rugby player.
An avid marathon runner, he has completed three races (NYC ‘15, La Havana ‘15, NYC’ 16). Louis currently lives in Flatiron. He is a member of the New York Private Equity Network Real Estate Group, the Lumen Institute, YPONextGen and the Urban Land Institute.

DAVID BENHAROUCH
MERIDIAN INVESTMENT SALES

DAVID BENHAROUCH

David Benharouch joined Meridian Investment Sales in September of 2017 as a Vice President. A native of Paris, France, David graduated from law school at the University of Paris XII and economic school at the University of Paris IX Dauphine before working as a corporate lawyer at a major law firm. He subsequently spearheaded a major reorganization and automation of a prominent family business to optimize profitability and efficiency.
David married and moved to New York, where he became a leading expert in the EB-5 financing industry, and further pursued his interest in real estate. Prior to joining Meridian, David served as a real estate salesperson at The

JOSH BERG,
NEWMARK KNIGHT FRANK

JOSH BERG

Josh Berg joined Newmark Knight Frank in 2014 as an associate in the New Yon: headquarters. Mr. Berg specializes in corporate tenant representation. Including relocation, expansion, disposition and lease renegotiations. His client roster includes private equity, hedge funds and fmancial services firms throughout New York City.
Mr. Berg earned a Bachelor of Science degree from Northeastern University.

DAMIEN BERNACHE,
BEKIN BURDEN WENIG & GOLDMAN
Damien Bernache joined Belkin Burden Wenig & Goldman, LLP in 2016 as an Associate in the Administrative Department.

DAMIEN BERNACHE

Mr. Bernache specializes in administrative law and litigation before the New York State Division of Housing and Community Renewal (DHCR), the New York State and City Commissions on Human Rights, the New York City Department of Housing Preservation and Development (HPD), and the New York City Housing Authority (NYCHA). In addition, Mr. Bernache has extensive experience with Project Based Section 8, Housing Choice Vouchers, and “Sticky” Vouchers. Mr. Bernache also has extensive litigation experience in Housing Court, Supreme Court and appellate courts.
Mr. Bernache earned his Juris Doctor from University of the District of Columbia, David A. Clarke School of Law in 2005 and graduated cum laude. Mr. Bernache earned his Bachelor of Arts from George Washington University in 2001.

JONATHAN BICHOUPAN
HIGHCAP GROUP
In early 2016 Jonathan Bichoupan made the transition from finance into real estate and took a salesperson position at Highcap Group. In hindsight it was a rather tumultuous time to enter into the business. It was the end of a very high cycle amongst legislative changes – the 421A had just expired, the rent stabilization laws changed, and there was uncertainty in both the finance and retail markets. It was an incredibly tough environment, but a great time to learn and earn your stripes as a broker.

JONATHAN BICHOUPAN

Although Jonathan had no real estate experience at the time, he had spent 4 years working for a financier in the emerging growth markets, which helped set the stage for putting deals together. He stated “You have to make sure there’s motivation on both sides. No matter what, things are always going to come up throughout the life cycle of the deal, so it has to be structured in a way where everyone will do everything in their power to move things forward and get it done.”
After only 2 years in the business, he’s gained a deep understanding of many submarkets throughout New York City. He originally focused on mixed-use and multifamily assets throughout the boroughs, but also became well versed in development.

JOHN BRENNAN
MARCUS & MILLICHAP

JOHN BRENNAN

John Brennan specializes in the sale of investment real estate assets in Brooklyn, focusing on multifamily (rent-regulated & free market), mixed use, retail, land, and redevelopment properties in Southern & Central Brooklyn. On a day to day level, John is valuing single assets or portfolios, advising property owners, and executing sales transactions on an exclusive basis. Building long-term relationships and putting client’s goals & needs ahead of anything else is the underlying focus of his business model. At every step of a client relationship, John takes an advisory approach to assist in making informed and lucrative decisions. With a proven track record of closing deals, John has continually established himself as a skilled negotiator with connections to the industries largest network of buyers & sellers for commercial real estate in Brooklyn.
John graduated from Boston University with a B.A. in Psychology. He was raised and currently lives in Hoboken, New Jersey. In his spare time, he enjoys attending Giants, Knicks, and Yankee games, going out to restaurants, and spending time with family & friends.

KELLY BRENNAN
GENOVA BURNS

KELLY BRENNAN

Ms. Brennan is based in the firm’s Newark, New Jersey, office and is a member of the Commercial Real Estate & Redevelopment Law and the Employee Benefits Practice Groups.
Ms. Brennan previously served as a summer associate at Genova Burns, conducting research and analysis in the areas of environmental law, employment law, land use law, and campaign finance law.
During law school, Ms. Brennan received the Philip J. Levin Scholarship. Ms. Brennan also participated in the Willem C. Vis International Commercial Arbitration Moot Court, presented at the Financial Literacy Pro Bono Program, and served as Alumni Relations Editor of the Rutgers Journal of Law and Religion.
She served as judicial extern in the Philadelphia Court of Common Pleas Complex Litigation Center, Philadelphia’s mass tort program as well as a judicial intern to the Honorable Dennis M. Cavanaugh of the United States District Court for the District of New Jersey.

MIKE COEN
PROCIDA FUNDING & ADVISORS
Mike Coen joined Procida Funding and Advisors in June of 2015. Mike co-leads the asset management team and helps facilitate the firm’s efforts in underwriting analysis. Mike along Derek Weissman will be handling the day-to-day operations of the 100 Mile Fund loan portfolio.

MIKE COEN

Prior to joining Procida, Mike help manage a portfolio of distressed commercial real estate assets at NRT REO Experts. Mr. Coen worked closely with other nationwide asset management companies servicing clients including JP Morgan Chase, Capital One and Bank of America. Mike served as a key member of the division with $100 million in assets under management generating a liquidation value of more than $670 million.
Mr. Coen completed his Masters in Real Estate Development (MSRED) at Nova Southeastern University and recently completed NYU’s Schack Institute of Real Estate Professional Certification in Real Estate Finance.
Most Recent Achievement: Mike facilitated and oversaw the environmental remediation cleanup for a 19 acre redevelopment site located in Ridgefield New Jersey. The site plan approvals and repositioning continues to attract purchasers and users to the site. Widely considered the final greenfield remaining in Bergen County, the land possess tremendous development value.”

NICHOLE CORTESE
LOEB & LOEB
An attorney at Loeb & Loeb since 2008, Nichole’s talent and drive have made her a tremendous asset to her clients and to the firm which led to her promotion to partner in 2014.

NICHOLE CORTESE

Nichole concentrates her practice on office and retail leasing and subleasing for both landlords and tenants. In addition, she has broad experience in related real estate matters, including commercial real estate sales and acquisitions, real estate brokerage and agency agreements and the assessment of the real estate aspects of mergers and acquisitions.
Nichole is both a talented attorney and a shrewd real estate professional who possesses a unique blend of legal intellect, market knowledge and nimble negotiation skills to deliver the highest quality service to each and every client she works with. She understands the economics and complexities of each matter, and she works tirelessly to conclude each one rapidly, often exceeding the expectations of both her clients and colleagues.
In one of Manhattan’s largest lease transactions from 2017, Nichole and her team represented Ivanhoé Cambridge and its partner Callahan Capital Properties, as landlord, in two separate leases to 21st Century Fox and News Corp totaling more than 1.2 million square feet of office space at 1211 Avenue of the Americas in Midtown Manhattan. Nicole also has recently represented Joseph P. Day, RFR Realty, Brookfield Properties, Trinity Real Estate, and played a key role in the representation of 120 Park Avenue Associates LLC and

STEVE EDELSTEIN

STEVE EDELSTEIN
MERIDIAN CAPITAL GROUP
Steve Edelstein joined Meridian Capital Group as a Vice President in 2014, where his responsibilities include arranging financing across all asset types both locally and nationally. Since closing his first deal in Philadelphia for $84 million, Steve has since facilitated the sale and financing of a mostly vacant office building in Newark, NJ, closed a $21 million office deal in Syracuse, NY, and in 2017, he closed more than $140 million in transaction volume after just three years in the industry. In his spare time, Steve enjoys spending time with his family and is intimately involved with various Jewish causes, including with the largest Yeshiva in the world.

ANDREW ESSICK
JPMORGAN CHASE
Andrew started with JPMorgan Chase in 2014 and has been in the Real Estate Industry since 2009, previously working as an Investment Sales Broker at Massey Knakal Realty Services (now Cushman & Wakefield). During his time at Massey Knakal, he was involved in the disposition of over $517MM in aggregate transaction volume and evaluated over $1.2B in commercial properties using various evaluation techniques.

ANDREW ESSICK

Andrew graduated with a Master’s of Science Degree in Real Estate Finance & Investment from New York University’s Schack Institute of Real Estate in 2014 and obtained his Bachelor’s Degree in Business Management from Pace University in 2010.
An active member of the NYU Alumni Community, Real Estate Services Alliance (RESA) and the Mortgage Bankers Association (MBA), Andrew has also volunteered for numerous charitable organizations including Habitat for Humanity, Hope Soup Kitchen, Arts Connection, Carry the Load, Catalog for Giving, Khal Bnei Torah and Street Soccer USA.

MICHAEL FELDMAN
MERDIAN INVESTMENT SALES
Michael Feldman joined Meridian Investment Sales in August of 2015 with four years of commercial real estate experience, having represented owners and operators and executed transactions across retail, mixed-use, multifamily, and hotel assets in New York. Over the course of his tenure at Meridian, Michael has closed more than $100 million in real estate transactions.

MICHAEL FELDMAN

Prior to joining Meridian Investment Sales, Michael served as an associate at Grubb Knight Frank in New York. Working alongside top executives in the firm, he aided in achieving the company’s top calendar year, completing dozens of transactions as a representative for New York University, Empire State Realty Trust, and MGM Real Estate. Michael graduated from the Baruch College Zicklin School of Business with a Bachelor of Business Administration in Economics. He is a licensed real estate salesperson in the state of New York and an active member of REBNY.

STEPHEN FERRERI
PROCIDA FUNDING
Stephen Ferreri is a recent graduate from St. Johns University with a Bachelors in Accounting and Finance. While attending SJU, he was a practice player for the collegiate basketball team.

STEPHEN FERRERI

Prior to working at Procida, Stephen worked in the finance department at Allianz Global Investors in which he gained valuable experience in both the corporate finance and asset management fields.
Stephen recently completed additional coursework needed to become CPA eligible, as he looks to sit for the CPA in the next coming months. Billy and Stephen’s father, who is a financial service CFO from Norwood, have known each other for over a decade.
Stephen recently became head of servicing and portfolio management for the 100 Mile Fund’s $150 mm portfolio. He is in charge of positioning all 100 Mile Fund investments to generate the safest and highest yield attainable. Stephen is also in charge of generating new capital for the Fund and finding new participants to partner with on current and future projects.

CAROLINE FINGER
JPMORGAN CHASE

CAROLINE FINGER

Caroline Finger is a Commercial Banker in the Chase Community Development Banking Group’s Real Estate Lending division, a leader in providing financing solutions that benefit communities across the nation. The Community Development Real Estate Group originates over $1 billion annually in construction and permanent debt products to develop and revitalize affordable housing properties throughout the Chase retail footprint.
Caroline is a member of the Northeast team and is responsible for originating debt throughout the region with a specific focus on Upstate New York and New England. Caroline joined the Group as a Commercial Banker in 2013 and has closed 36 transactions totaling over $450MM in debt that has resulted in the new construction or preservation of nearly 3,500 units of affordable housing.
Caroline holds a bachelor’s degree from the University of Pennsylvania and a master’s degree in real estate finance from New York University’s Schack Institute of Real Estate. She is also a participant in the J.P. Morgan Chase Ambassador program, has sat on the conference committees for the New York State Association for Affordable Housing’s annual New York City and Upstate New York conferences, and serves on the executive board for the Enterprise Community Partners Gotham Society.

ZACH FIRESTONE
MERIDIAN INVESTMENT SALES
Zach joined Meridian Investment Sales in November of 2016 as an associate on the Middle Market team, focusing on multifamily properties in New York City. Prior to joining Meridian, he acted as a startup consultant to Charidy Inc., Gigameet Inc., and MeVee LLC, and was a co-founder of Welzoo LLC. Zach holds a B.A. from Michigan State University and is a licensed real estate salesperson in New York.

ZACH FIRESTONE

Zach has been hired as an exclusive broker on a number of multifamily, mixed-use, and development site listings, including 263 W 34th Street, a shovel-ready, 50,000-square-foot development site located directly across from Pennsylvania Station. There are fully approved plans to develop a four story commercial building with 80 feet of linear frontage along West 34th Street, which will be highly sought after by retailers to serve as a global flagship store. Few development sites exist that offer immediate proximity to an international transit hub and one of the most heavily trafficked locations in the world.
In addition to a monumental first year in real estate, Zach also married his amazing wife Ilana in 2016. He speaks several languages, is a Kosher restaurant connoisseur, and specializes in networking and maintaining relationships.

MARK FISCHER

MARK FISCHER
LANE OFFICE
Mark Fischer is an account manager at Lane Office. He graduated from UNC – at Chapel Hill, and started with Lane Office September 8th, 2014. He is responsible for developing client relationships and ensuring that all services are completed on time and within the designated budget. Mark has made a major impact at Lane Office not only with his thoroughly developed skill set, but also his dedication and drive.

BRIAN FOLEY
PROCIDA FUNDING & ADVISORS

BRIAN FOLEY

Brian Foley joined the team full time as an Associate in May of 2016 after graduating with a BS in Economics from the Wharton School of Business at the University of Pennsylvania with concentrations in Finance and Real Estate. Brian was also member of Penn’s varsity swim and dive team, specializing in backstroke.
Before coming to Procida, Brian interned at Advantage Futures, one of the highest volume futures clearing firms in the industry, based out of Chicago. There Brian learned key values in sales and trading.
At Procida, Brian worked on R.E.O. assets and distressed deals. Now, Brian leads Procida Funding’s Originations department.

LOUIS FRANCO
ISA REALTY GROUP
Louis Franco is a Director with Isa Realty Group, LLC a full service commercial real estate firm based in NYC. He concentrates on both landlord and tenant representation with a focus on retail leasing. Louis has been with IRG since 2014 and has worked on behalf of many property owners and management firms including Perlbinder Realty, Dermer Management, Hilson Management, Plaza 400, Eugene Ellis Real Estate, Paley Management and many other local real estate families, being instrumental to the successful leasing of many projects on their behalf.

LOUIS FRANCO

Louis has also represented many retailers including Starr Restaurants, CV Restaurant Group, Roman & Williams, Gumption Coffee, Just Salad, Baked by Melissa, Francois Payard, Lush Cosmetics, Noodlelove, Mochidoki and Spa Belles, among others.
Louis received a Bachelor of Science in Business with a concentration in finance, economics, and real estate from NYU’s Stern School of Business. He is a licensed Real Estate Broker in the state of New York and is a member of the International Council of Shopping Centers. Louis has been active both in the real estate and local communities. He has worked as a volunteer for Sephardic Food Pantry and aided in construction for Hurricane Sandy Relief Effort.

TIMOTHY FREYDBERG
CBRE
Timothy Freydberg works as a Senior Associate in Transaction and Advisory Services in CBRE’s Midtown office, where he focuses on tenant representation across New York City.

TIM FREYDBERG

Tim brings more than nine years of commercial real estate experience to his role at CBRE. Using his superior market knowledge and superb attention to detail, he specializes in representing a variety of tenants throughout the city. Some of Tim’s notable clients include Nagashima Ohno & Tsuenematsu NY, LLP, Gates Capital Management, Inc., Biom’Up and Concern Worldwide.
Prior to joining CBRE, Tim was a Director at the Vortex Group and a Vice President at NSNYRE, where he functioned in a similar role in a boutique setting. In addition to his commercial real estate experience, Tim also worked in finance at Merrill Lynch and Cuttone & Co.
Tim’s experience in real estate and finance—paired with his superior client service skills and ability to build strong relationships with clients and colleagues alike—makes him a strong asset to the CBRE team.
Tim graduated from Sacred Heart University with a Bachelor of Science in Economics and Finance.

DANIEL FROMM
NKF CAPITAL MARKETS
Daniel Fromm works in NKF Capital Markets New York Debt and Structured Finance Group. Mr. Fromm specializes in structuring and raising capital across all asset classes. He has extensive relationships with a variety of capital sources including life insurance companies, domestic and off-shore commercial banking institutions, agencies, pension funds, investment banking institutions, real estate funds and foreign investors.

DANIEL FROMM

Before joining NKF Capital Markets, Mr. Fromm was a director at a real estate investment bank, where he focused on asset and portfolio financings. He previously worked as an attorney at Cravath, Swaine & Moore LLP, where he worked on complex assignments including mortgage-backed securities matters. He also advised real estate private equity funds, hedge funds and institutional owners on joint ventures, restructurings, acquisitions, dispositions and financings.
Mr. Fromm is active with the Mortgage Bankers Association (MBA), National Multifamily Housing Council (NMHC) and International Council of Shopping Centers (ICSC).
Mr. Fromm holds a law degree from New York Law School and a Bachelor of Arts degree in political science from Queens College.

NADJA M. GALLOWAY
TIME EQUITIES

NADJA GALLOWAY

Nadja M. Galloway is a licensed real estate broker with a focus on commercial sales and leasing in the New York City area. She is an exclusive agent for approximately 500,000 RSF in Manhattan and Long Island City. Over the past five years she has worked with the Time Equities team to market and successfully sell approximately 195,000 RSF and lease approximately 450,000 RSF.  In addition to commercial sales and leasing she is currently the property manager for two residential properties in Brooklyn.
Nadja has worked at Time Equities Inc., a full service real estate agency, for over a decade. She started out as an assistant and when the opportunity presented itself, she propositioned the COO to consider her for Associate Broker position to represent the company’s New York City office portfolio. She was immediately given a title, new responsibility and joined the TEI brokerage team. In the same year, she was awarded Employee of the Year at the Time Equities Inc. annual company conference. Due to her longevity and success at Time Equities, most recently Nadja has been promoted to Director of Commercial Leasing and Sales.
Ms. Galloway was born in Brooklyn and has lived in Clinton Hill her entire life. She is an active Brooklyn Community Board member, Bedford Stuyvesant Real Estate Board member, REBNY member, and a member of Brooklyn Chamber of Commerce. She graduated from Brooklyn College and holds a Bachelors of Science in Computer and Information Science.

BRYAN GEFFEN
MERIDIAN CAPITAL GROUP

BRYAN GEFFEN

Bryan Geffen is an Associate at Meridian Capital Group, where he is responsible for structuring debt and equity for clients across all asset types, including multifamily, mixed-use, commercial, office, and industrial. In his first three years at Meridian, Bryan has negotiated, structured, and closed more than 40 transactions.
Through his in-depth knowledge of the lending markets, Bryan has become a valuable asset to his clients and has developed significant relationships with his lending counterparts. His ability to identify the right lender for every deal and to work effectively through any hurdles that may arise has allowed him to acquire some of NYC’s most active real estate owners as clients, many with portfolios in excess of $100 million.
Prior to joining Meridian, Bryan worked in the financial sector at Morgan Stanley and at Barclays and played professional basketball in Israel after his division 1 basketball career in college.

CHRISTOPHER GILLIS
ACKMAN-ZIFF

CHRISTOPHER GILLIS

Over the last few months, Christopher has taken a highly expanded role in sourcing institutional caliber opportunities for the firm. This includes recently identifying and successfully securing exclusive advisory and transactional services for a large client portfolio spanning more than 1 million square feet across mixed asset types.Christopher joined Ackman-Ziff’s Investment Sales practice in 2017. Given his experience across multifamily, mixed-use, retail, office and development properties, he is responsible for origination and execution of exclusive sales and capital mandates throughout New York City. Since beginning his career, he has played an integral role in closing over $400mm in gross transactions.
Prior to joining Ackman-Ziff, Christopher was a member of the investment sales team at
Ariel Property Advisors, servicing both private and institutional clientele. He also developed an expertise in affordable housing product including 421-a, Low Income Housing Tax Credit (LIHTC), Project-Based Section-8, and additional HUD agreements.
In the years preceding his focus on commercial real estate, Christopher worked in oil and metal trading at Glencore Plc, a world-leading commodities trading firm. He attended the University of Connecticut where he received his B.S. in Economics and Business.
Christopher has been exposed to real estate his entire life. His father, Kenneth, still owns and operates a residential development company, building custom homes throughout Connecticut and Rhode Island. His Grandmother, Anna, was a top awarded agent with Coldwell Banker for over 30 years. Its role models like these where Christopher discovered his passion and drive within the industry.

MATTHEW GILLIS
ARIEL PROPERTY ADVISORS

MATTHEW GILLIS

Matthew L. Gillis is a Director in the Investment Sales Division at Ariel Property Advisors. In addition to originating and executing exclusive listing sales, he is responsible for leading business development and networking initiatives in Northern Manhattan, with a particular focus on Washington Heights and Inwood.
Since joining the company, he has participated in the sale of 44 transactions worth $827 million in gross consideration.
Mr. Gillis represents both private and institutional-sized owners and investors in the valuation and sale of multifamily, mixed-use and development properties throughout New York City. Ariel Property Advisors’ Northern Manhattan team is extremely active in the sale of affordable housing products, including Low Income Housing Tax Credit (LIHTC), Project-based Section-8 and other property types subject to HUD agreements. The Northern Manhattan team is one of the most active in the industry for this product type.
Mr. Gillis graduated with a B.S. degree in Business Administration from Fordham University, where he also minored in Economics.

KADEEM GOODALL-REID
CBRE

KADEEM REID

Kadeem Goodall-Reid joined CBRE’s northern New Jersey office in 2014 as a member oftheresearch department and accelerated into brokerage services shortlythereafter.
Mr. Goodall-Reid is focused on investor and occupier representation in the northern NewJerseyofficemarketwhereheactivelyrepresentsmorethanonemillionsquarefeetofinventory.Mr.Goodall-Reid’sskillsinoptimizingvalueforhisclientsincludecomprehensivemarketanalysis,strategic planning, methodical prospecting, business development and transactionmanagement.
Mr. Goodall-ReidgraduatedfromRowanUniversity in2014withabachelor’s degreeinaccounting. While at Rowan, Mr. Goodall-Reid was actively involved in numerous clubsandorganizations and served as the rugby team captain during his last year.

MORGAN GOROSPE
CORGAN
As the Vice President of Business Development for the Interiors Sector at Corgan, one of the nation’s top five architecture and design firms, Morgan Gorospe is accomplished in identifying and cultivating new business, developing and maintaining client relationships, and

MORGAN GOROSPE

generating opportunities to promote Corgan’s work. A 17-year veteran of the AEC industry, Morgan brings extensive design and construction experience managing multimillion dollar projects from design development through construction administration to deliver on client goals and steward relationships. During her time at Corgan, Morgan has worked on projects for Bustle, LinkedIn, Bank of the Ozarks and Indeed among others. Her commitment to strategy and collaboration have helped broker new partnerships and shaped the fabric of the city’s real estate market. Morgan is a graduate of the University of Southern California and holds a Bachelor’s in Fine Arts with an emphasis in Interior Design and Graduate Degree in Construction Management from the University of California Los Angeles. She is a member of CoreNet’s New York chapter and a LEED AP.

ASHLEY GREBOW
MODERN SPACES
Ashley Grebow joined Modern Spaces Commercial & Investment Property Group in August 2015. She developed, and manages the team’s extensive owner and investor database, and is responsible for originating and marketing new business. To date, Ashley has generated over $364M in gross sales and leasing activity.

ASHLEY GREBOW

Ashley’s real estate career began at CoStar Group, a commercial real estate information and analytics firm headquartered in Washington, DC. Among other things, she: managed a portfolio of 980+ companies, 5500+ properties, and 1100+ listings, generating almost $1.0M in annual revenue; monitored all real estate activity across several U.S. markets; and improved client relations resulting in a market renewal rate of 98%.
Ashley graduated from Indiana University’s Kelley School of Business with a Bachelor of Science degree in Marketing and also spent a semester studying abroad in Florence, Italy. She holds a real estate salesperson license in New York and Maryland.

AISLING GREGORY
SILVERSTEIN PROPERTIES
As Director of Marketing & Digital Media at Silverstein Properties, Aisling oversees all of the company’s online, digital, direct marketing and social media strategies. Her work has resulted in greatly increased leasing activity, brand recognition and exposure across the company’s commercial, residential, retail and hotel portfolio.

AISLING GREGORY

In 2016, Aisling was handed the ultimate challenge: figure out how to engage, influence and persuade business leaders and their employees to move into 4 World Trade Center and bring it to 100% occupancy by 2018. Aisling’s efforts were a significant factor in Spotify leasing 14 floors at the top of the building, bringing it to full occupancy.
Under Aisling’s leadership, Silverstein’s marketing & leasing campaigns have been honored with dozens of national awards. These include thirteen W3 Awards for “Best in Show”, five MarCom Awards and four AVA Digital Marketing Awards for most successful leasing campaigns.
Aisling was recognized by the American Business Awards as the 2017 Marketer of the Year. Her market research paired with her guerilla marketing style have created a new standard for marketing in the real estate sector. Dara McQuillan, Silverstein’s CMO said: “As a result of Aisling’s efforts, we have some of the most visible projects on the planet.”

DARELL HANDLER
HANDLER REAL ESTATE ORG.

DARELL HANDLER

Reporting directly to the CEO, EVP Darell Handler oversees the leasing of all Handler Organization owned and managed properties, plays a critical role in the sourcing, analysis, and due diligence process for the firm’s proposed acquisitions and new investments, and has been assisting the CEO in the strategic re-positioning of the company-owned 135,000-sf 315 West 39th Street.
As a tenant rep broker with several new leases in the immediate pipeline, Mr. Handler has represented a broad spectrum of clients. Select highlights include: the 10,000-sf relocation and expansion of behalf of Water Keeper Alliance (John F Kennedy, Jr. is the nonprofit’s President) at 180 Maiden Lane; QSAC’s 40,000-sf relocation and expansion in Queens; Wachtel Missry’s 17,000-sf renewal at 1 Dag Hammarskjold Plaza; and Lewis Baach Kaufmann Middlemiss’ 15,000-sf renewal and expansion in the Chrysler Building.
Mr. Handler sits on the board of the Young Men’s/Women’s Real Estate Association, the St. Mary’s Healthcare System for Children’s FOSM Committee, the Anti-Defamation League’s NextGen Real Estate Committee and is a Founding Friend of the Whitney Museum of American Art. He is a graduate of the University of Rhode Island.

BRENT HOUSTON
JPMorgan CHASE
Brent Houston is a Senior Client Executive in J.P. Morgan’s Real Estate Banking business. His primary responsibilities include generating new business opportunities and managing existing relationships with top tier commercial real estate developers and other Texas-based owner/operators of real estate.

BRENT HOUSTON

Brent joined JPMorgan in 2003 and worked in the CMBS group, with responsibilities including securitization of CMBS loans and presentation of loan portfolios to rating agencies and B piece buyers. Since moving to the Real Estate Banking group, Brent has also held the roles of Underwriter and Credit Banker. He is an active instructor in REB’s Credit Training Academy.
Prior to joining JPMorgan, Brent spent five years at Univest Financial Services working on due diligence projects supporting the acquisition of commercial real estate assets for third party clients. His responsibilities included collecting and evaluating data on a large pool of real estate assets and other loans.
Brent received a Bachelor of Arts degree from Rhodes College and is a CFA charterholder.

NOEL HYUN
DLA PIPER RE/Land Use
Noel Hyun, lives and works in DTLA, and works to re-define urban family living in Los Angeles. Using her experience as a land use attorney and community advocate, she is making her mark.

NOEL HYUN

She concentrates her practice on land use and environmental matters, including representing property owners, developers and investors in complex land use entitlement and real estate development projects. With over a decade of experience representing clients before Los Angeles City officials, Noel understands the public decision-making process and assists clients in cutting through red tape. This skill set crosses into her personal advocacy.
She serves on a number of boards and committees representing issues important to her. To keep young families in DTLA, Noel joined the board of Metro Charter Elementary School, Downtown Los Angeles’ first parent-founded elementary school. In 2017, she began leading the school’s facilities task force, no easy task given the market barriers in an expensive real estate market like DTLA.
Noel works in other ways to shape the City. Recently, Noel was named board secretary and treasurer for the Central City Association, a downtown business group, serves on the City’s Zoning Advisory Committee and is Vice Chair for the West Hollywood Community Housing Corporation.

RYAN INGLE
BLACKSTONE

RYAN INGLE

Ryan Ingle is a Principal in the Real Estate Group. Since joining Blackstone in 2010, Mr. Ingle has been involved in asset management activities across the U.S. and analyzing real estate investments in several property sectors. Mr. Ingle has been involved in various transactions including La Quinta, Extended Stay, Motel 6, IndCor and BioMed. Before joining Blackstone, Mr. Ingle worked in Citi’s investment banking division in the Real Estate & Lodging group where he was involved in a variety of M&A, equity and debt transactions. Mr. Ingle received a BS in Finance and a BA in Spanish from the University of Kansas where he graduated with highest distinction and was a member of Phi Beta Kappa.

BRYAN KALLENBERG
MERIDIAN CAPITAL GROUP
Bryan Kallenberg is a Senior Associate at Meridian Capital Group. To date, he has arranged $200 million in commercial real estate debt and has been involved in $70 million of commercial real estate investment sales.

BRYAN KALLENBERG

Bryan was recruited by Meridian to expand its footprint throughout the Long Island commercial real estate market. His responsibilities include origination, loan placement, and comprehensive property analyses. Prior to joining Meridian, Bryan worked as an Investment Sales Associate at ERG Property Advisors where he focused on the sale of Long Island commercial real estate.
In his free time, Bryan enjoys spending time with his wife Courtney and daughter Madelyn. He enjoys cooking, golfing, and physical activities. He is also an All-American College Tennis recipient, which helps his competitive edge in commercial real estate.

JON KAMALI
EASTERN CONSOLIDATED

JON KAMALI

Jon Kamali is a Director of Commercial Leasing at Eastern Consolidated, specializing in both tenant and landlord representation in New York City including Upper Manhattan and the outer boroughs.
As a landlord representative, Mr. Kamali works exclusively on behalf of Equity Residential, GTIS Partners, Prana Investments, Elijah Equities, ABJ Properties, Atkins & Breskin, and Morgan Builders, while as a tenant representative he is assisting iPic Theaters & Entertainment on its expansion into the New York Metro area.
Prior to joining Eastern Consolidated, Mr. Kamali was a commercial agent at Besen & Associates.  He co-founded the online music magazine (BH) out of New York and Miami where he worked cohesively with managers and publicists in the industry while coordinating events with full media coverage including video, photo, interview, and recap content.
A graduate of Baruch College with a degree in Corporate Communications and a double minor in Real Estate and Information Technology, Mr. Kamali is fluent in Hebrew and Farsi. He is a member of the Real Estate Board of New York (REBNY) and the International Council of Shopping Centers (ICSC).

JARRED KASSENOFF
NEWMAN FERRARA

JARED KASSENOFF

Prior to joining the firm as a partner, Jarred was a member in the Commercial Litigation Practice Group at Cozen O’Connor.
For the last decade, Jarred has concentrated his practice in the areas of complex commercial real estate disputes, insolvency issues and zoning and tax matters. He has represented Fortune 500 corporations, real estate management companies, property owners, landlords and tenants in all aspects of their use, management and operation of commercial real estate. He has published prominent articles in the Landlord-Tenant Practice Reporter, the New York State Bar Association Journal, and the New York Law Journal.
Jarred earned his undergraduate degree from The Pennsylvania State University and his law degree from the Benjamin N. Cardozo School of Law, where he was editor of the Journal of International and Comparative Law.

KEVIN KELLY
SAVILLS STUDLEY
Kevin Kelly is a member of Savills Studley’s Workforce, Location and Incentives Advisory group. He specializes in three core practice areas, all centered around location strategy: workforce planning and site selection, portfolio optimization, and acquisition of business incentives.

KEVIN KELLY

A trained data scientist and avid data enthusiast, Kelly is a gifted problem solver with end-to-end capabilities and a proven track record of synthesizing the most complex/copious amounts of data and unlocking key trends or anomalies. He leverages his background in GIS (geographic information systems) and spatial sciences to help drive unique and creative solutions that are often conceptually out-of-the-box but always statistically valid. Kelly is also experienced at presenting these findings directly to executive leadership and concisely communicating key decision points that effectively shape the road map to an optimized solution.
Prior to joining Savills Studley, Kelly was a member of the KLG Advisors Location Strategy Practice for five years. Before joining KLG he worked at the Los Angeles County Public Health Department of Epidemiology performing advanced spatial analysis in pursuit of gaining a geographic understanding of the spread and distribution of illness.
Kelly earned a Master of Science degree from The University of Southern California in Geographic Information Sciences and Technology. He also earned a Bachelor of Arts degree at USC in Geography.

VALERIE KELLY
FRIED FRANK HARRIS
SHRIVER & JACOBSON LLP

VALERIE KELLY

Ms. Kelly represents her clients on all aspects of commercial real estate with a particular emphasis on large headquarters leases. Ms. Kelly’s clients include private and public commercial real estate investors and developers, office and retail tenants, investment funds, banks, and other financial institutions. Ms. Kelly also has extensive experience working on acquisitions and dispositions of office buildings, apartment complexes, and hotels.
As a real estate partner at Fried Frank, Valerie Kelly plays an integral role in the practice’s growth and success. Her business-minded approach to leading and managing transactions has enabled her to effectively tackle complex issues for clients.
Ms. Kelly represented clients on 3 of the top 7 largest office lease deals in Manhattan in 2017:
• Ernst & Young in connection with its 674,061-square-foot lease for its headquarters relocation to One Manhattan West in New York City;
• PBC USA in connection with its 548,000-square-foot lease to HSBC USA NA at 452 Fifth Avenue, a Class A office tower near Bryant Park in New York City.
• RXR Realty in a transaction with New York Presbyterian Hospital whereby the hospital will occupy over 500,000 square feet of office space at 237 Park Avenue in New York City.

BEN KHAKSHOOR
ROSEWOOD REALTY GROUP
Ben Khakshoor, 26 is an investment sales broker at Rosewood Realty Group where he is a rising star who just celebrated his second year anniversary with one of the city’s top performing investment sales firms led by Aaron Jungreis.

BEN KHAKSHOOR

In that time, Khakshoor has transacted over $120 million in sales, and has continued to grow his relationships among investors.
His biggest sale in 2017 was the $27.5 million sale of an eight-building portfolio in Greenpoint, Brooklyn, to Black Spruce Management in February. Along with his Rosewood colleagues, Aaron Jungreis and Mike Kerwin, he represented seller SMK Properties, which was in danger of being foreclosed on by Madison Realty Capital before the sale.
In 2017, Khakshoor also helped sell a three-building package near Fordham University in the Bronx for $17 million. “I liked that deal because it showed appreciation and growth that’s happening in the Bronx,” he said. “It’s not as gentrified an area yet.” And recently he closed a $14 million plus deal selling a two building portfolio on Columbus Avenue in Manhattan.
The young man, who originally planned to be a dentist, realized his drive and work ethic would work better in the business world. He admits he has learned a lot from working at Rosewood, where he said, it immediately felt like home. “We treat all clients the same and we give the proper attention to every deal, be it a $ 5 million or $25 million deal,” said Khakshoor.
“I love being a part of the team and being a deal junkie,” said Khakshoor, who spent a year as a mortgage broker at Silver Fin Capital, a small mortgage lender based in his hometown of Great Neck, New York before he took the plunge and became a commercial broker.
Outside of work, Khakshoor is proud that he co-founded the North Shore Sephardic Synagogue Youth Congregation. The organization, which has grown from 10 members to nearly 60 over the past several years, helps kids “receive a proper Jewish education,” Khakshoor said, in addition to organizing trips and other social activities.

ANDRE KIKOSKI
ANDRE KIKOSKI ARCHITECT

ANDRE KIKOSKI

Andre Kikoski Architect is an award-winning Manhattan-based architecture and design firm grounded by enduring architectural principles, driven by innovation and activated by the untapped capabilities of 21st Century technology and craftsmanship.
Named one of Interior Design’s PowerGrid 100 Architects changing the landscape of New York City, and The Architect’s Newspaper’s Top 50 Interior Architects pushing the envelope in the built environment, the firm has proudly worked with The Guggenheim Museum, The Related Companies at Hudson Yards, The Howard HughesCorporation, The Kohler Companies, Saks Fifth Avenue, and Swarovski Crystal.

 

JIDAN KIM
CPEX REAL ESTATE
Jidan Kim is an Associate Director on the CPEX Development & Conversion Sales Team. Focusing on the New York market, Jidan works collectively with Managing Partner Brian T. Leary in this role. Her responsibilities include the management of the daily operations,

JIDAN KIM

transactional services, and client relations for the Development & Conversion team in all five boroughs. Jidan’s responsibilities also include evaluating and underwriting multi-family, mixed-use, office, retail, and industrial development and conversion opportunities. She began her commercial real estate career at CPEX Real Estate as an intern on the Multi-Family Investment Sales Team during her undergraduate studies in 2014.
Jidan graduated from the Peter J. Tobin College of Business at St. John’s University with a Bachelor’s degree in Finance. During her time, she was involved in managing the university’s endowment fund as an equity analyst for the $2.8 million fund. In Spring of 2015, she was responsible for the recommendation of a $56,000 equity investment to the St. John’s University Investment Board which resulted in approval.
Jidan grew up in Huntington Beach, California and currently resides in Battery Park, Manhattan. She is fluent in Korean.

STACEY KLEINBERG
MKDA

STACEY KLEINBERG

Stacey Kleinberg is a Senior Interior Designer in MKDA’s New York office, where she provides the full scope of design and project management services on fashion showroom and corporate office assignments.
Notable projects include offices for LearnVest, CommonBond, Continental Stock Transfer & Trust and Insperity as well as showrooms for Tahari, Calvin Klein, Byer California, S. Rothschild, Zelman Associates, LT Apparel and Moret Group.
Prior to joining MKDA in 2011, Stacey was Creative Design Director at CDA, an architecture affiliate of real estate development firm RAL Companies. While there, she developed interiors from concept through completion for prominent hospitality, residential and corporate clients.
As an artist, Stacey brings a high level of creative talent to each assignment. She employs a big picture approach coupled with an eye for detail that results in new and innovative designs that are developed in a responsive and collaborative environment.
With a professional background in graphic design and marketing, she is also equipped to create visual environments that are strategically aligned with her clients’ brands.
Stacey is a graduate of SUNY Buffalo where she dual majored in Studio Art & Art History. She holds a certificate of Graphic Design from Parsons the New School for Design.

MAX KOEPPEL
KOEPPEL ROSEN LLC

MAX KOEPPEL

Max P. Koeppel couldn’t resist his family’s legacy in commercial real estate, even after venturing out on his own with an impressive technology start-up. The 31-year-old entered the fold in November 2016 by joining his uncle David J. Koeppel at Koeppel Rosen LLC, becoming the fifth generation to work in the industry.
In his first 15 months as an associate, Max has worked on about 275,000 square feet in office transactions for the leasing and management firm. Recent efforts on behalf of the Rosen family’s 2.2-million-square-foot Midtown South portfolio attracted nine new tenants of varying sizes, including WeWork at 135 Madison Avenue and 154 West 14th Street, and IMAX Corp. at 902 Broadway.
Max previously found success at Vertisense Inc., a company he co-founded and subsequently sold. The company developed technologies for non-invasive measurement of human conditions, allowing users to track and monitor their personal health data. It was most well-known as the developer of Alcohoot, which accurately monitors and tracks blood alcohol content.
Max graduated from Syracuse University with a Bachelor of Science in sport management. He lives in Manhattan with his wife and one-year-old daughter.

CASEY KRIEDMAN
CARRYN MCLAUGHLIN
UBS FINANCIAL SERVICES

CASEY KRIEDMAN

Casey Kriedman, CFP® and Carryn McLaughlin, CFP® have been partners for almost 15 years, focused on the

CARRYN MCLAUGHLIN

wealth management and investment banking needs of real estate professionals in NYC. Their client base is comprised of the who’s who in NY real estate. This all-female financial advisory team at UBS thrives in the no-nonsense, competitive, real estate landscape. Their creative thinking on both the personal and business sides of the balance sheet help multi-generational real estate families access unique sources of capital and deal structures that benefit their real estate portfolio and long-term estate planning goals. At the end of the day, real estate is a relationship business and this team owns theirs.

MICHAEL LEE
HKS CAPITAL PARTNERS

MICHAEL LEE

Michael Lee, 28, is a rising star at financial advisory firm HKS Capital Partners where he has been part of the team since the company was founded in 2011. In 2015 he was appointed a partner at HKS Capital Partners where he has originated loans alongside commercial finance industry leaders Jerry Swartz, Ayush Kapahi and John Harrington.
Since joining HKS, Lee has originated over $ 800 million in loans.Today Lee also acts as a mentor and manages the firm’s team of over 13 brokers.
“Michael has been with us from the beginning and he has become a heavy hitter in the industry,” said Kapahi, who pointed out that Lee was recently named a top “25 Under 35” Finance Broker for closing over $250 million in deals with $180 million more in the pipeline.
Before joining HKS, Lee attended Cornell University where he graduated with a bachelor of science degree in business/applied economics. The Long Island native, now lives in Chelsea, Manhattan. Michael is also an active member in AREPA and AAREA.

SHARI LEVENTHAL
LANGAN

SHARI LEVENTHAL

Shari Leventhal is a senior site/civil project manager based in Langan’s New York City office. She manages a diverse array of projects ranging from parks, residential/mixed-use, institutional, and waterfront developments. Throughout her career, Shari has successfully led the site development of several large-scale projects, including Freshkills Park, a 2,000-acre landfill-to-park reclamation project in Staten Island, and Halletts Point, a seven-building development in Queens.
Shari utilizes her excellent communication skills to rise through the ranks of her career. By developing strong relationships with peers and clients, Shari has gained the reputation of a trustworthy, hardworking individual. She prides herself on her ability to convey issues when they arise and quickly propose efficient resolutions, and those who work with her regularly praise her clearheaded approach to tackling challenges along the way.
In addition to her job responsibilities, Shari plays a large role in various organizations. She is an active member of Urban Green Council, mentor in Langan’s mentoring program, and co-leader of Women@Langan in the firm’s New York office. Shari’s contributions to the industry were recognized when Women Builders Council named her one of 2015’s Outstanding Women.
Outside of work, Shari enjoys being active outdoors with her friends and family.

NATHANIEL LIFSCHITZ
FRIED FRANK HARRIS
SHRIVER & JACOBSON LLP

Nathaniel Lifschitz

Nathaniel Lifschitz is a partner resident in Fried Frank’s New York office and a member of the Firm’s Real Estate Department. Mr. Lifschitz counsels financial institutions, owners, developers, and domestic and offshore investors in a broad range of highly complex commercial real estate transactions, including representing both borrowers and lenders in connection with mortgage, mezzanine, and construction financings, preferred equity investments, and portfolio loans. He also represents clients in connection with acquisitions and dispositions and in joint ventures relating to the development of commercial and residential properties.
His notable representations include:
• RXR Realty in connection with the acquisition and financing of the one-million-square-foot building located at 32 Old Slip in New York City;
• The Children’s Investment Fund in its US$239 million construction financing to a joint venture of Alcion Ventures and Genton Property Group in connection with the development of the Four Seasons Private Residences Los Angeles, CA; and
• J.P. Morgan, as lead lender, in the origination and syndication of a US$900 million construction loan to affiliates of Extell Development for the development of Central Park Tower in New York City.

SAMUEL R. MARCHESE
BELKIN BURDEN
WENIG & GOLDMAN

SAMUEL MARCHSES

Samuel R. Marchese is an Associate in the Administrative Department at Belkin Burden Wenig & Goldman, LLP. He joined the firm in October, 2015.
At Belkin Burden Wenig & Goldman, Mr. Marchese’s practice includes advising and representing owners of rent regulated buildings in administrative proceedings before the New York State Division of Housing and Community Renewal (DHCR), the New York City Department of Housing Preservation and Development (HPD), the New York City Department of Buildings (DOB), and other City and State agencies in all stages of administrative and judicial review. Mr. Marchese also advises clients on creditor’s rights, bankruptcy proceedings, and has litigated before Bankruptcy Courts.
Mr. Marchese earned his Juris Doctor from Duquesne University School of Law in 2014, where he received the CALI Award for Academic Excellence in Advanced Legal Reasoning, and was a member of its nationally recognized trial team by competing in the 2013 National Trial Advocacy Competition in Detroit, Michigan. Mr. Marchese earned his Bachelor of Arts, cum laude, from Ramapo College of New Jersey in 2009.

JON LEIFER
CASE REAL ESTATE CAPITAL

JON LEIFER

Jon Leifer is an entrepreneurial real estate professional with a record of deal-based and organizational value creation in the execution of property acquisitions and redevelopment strategies. He is ownership-focused and has enjoyed industry recognition for his professional skills as an expert in acquisitions, development, finance and asset management, as well as consulting. Jon is highly regarded for his deal sourcing, relationship building and negotiation skills. In 2014, Jon joined Case Real Estate Capital, a northern NJ-based commercial real estate investment firm.
At Case, Jon is responsible for sourcing, evaluating, negotiating and closing investments in special situational asset loans; performing, sub- and non-performing real estate-secured notes; judgments; and liens as well as REO properties. The company has already surpassed the $125-million mark in investments since its founding in 2013.
Previously, Jon was the founder and director of acquisitions of Ridgeline Real Estate Partners of Hoboken, NJ. He earned his Bachelor of Science in Urban Planning in 2005 from the Massachusetts Institute of Technology, where he was honored with the O. Robert Simha Prize for Outstanding Planning Work Affecting Cambridge and Higher Education. Jon obtained his Master of Science in Real Estate from the Johns Hopkins University Carey Business School in 2010.

GEORGE MAVROS
PARAMOUNT REALTY USA

GEORGE MAVROS

Born and raised in Queens, George is an alumni of the Hofstra University Maurice A. Deane School of Law. George discovered an interest in real estate while interning at a law firm as a teenager in high school. He pursued those interests throughout his education, culminating with his graduation from law school. Upon his admission to the New York Bar in 2008, George founded a law practice concentrating on all aspects of residential and commercial real estate, as well as other transactional matters. George joined Paramount Realty USA in 2014 to assist with the implementation of its real estate auctions, including the administration of Paramount Realty USA’s largest project to date, which includes the auctions of over 500 storm-damaged homes acquired by New York State in the wake of Superstorm Sandy. In addition to handling legal aspects of real estate, George is very tech savvy, providing him the skill set to create marketing materials for both digital and print applications, as well as maintain and update Paramount Realty USA’s website/database, all the while insuring that these tasks are performed in a legally compliant manner. In his spare time, George is an avid motorsports enthusiast, building and racing automobiles competitively.

MICHAEL MCCALL
CBRE

MICHAEL MCCALL

Michael joined CBRE in 2012 as a Vice President in the firm’s Westchester/Fairfield office, located in Stamford, CT. He specializes in tenant representation, including multi-market transaction experience and agency representation services and has over 13 years of experience as a broker and consultant in corporate and institutional real estate. He began his career in commercial real estate at Newmark Grubb Knight Frank, where he worked covering the Westchester/Fairfield market.
Outside of work, Michael is extremely active in his community, where he founded the Predators Lacrosse Club program. Under his direction, the team has established a program for over 200 current youth and high school lacrosse players from the Tri-State area. As part of the program, Michael coaches elite high school players through the college recruitment process. Due to his dedication and initiative, the players now have more than 20 college commitments. Michael is also a principal at Stanwich Energy Advisors, an energy procurement consultant for commercial owners and end-users in deregulated states.
Michael attended the University of North Carolina, Chapel Hill, where he was the captain of the Division I Men’s Lacrosse team. He received a Bachelor of Arts in Political Science and holds a real estate license in both New York and Connecticut.

RACHEL MENDELSOHN
ASPEN CAPITAL

RACHEL MENDELSOHN

Rachel has been an analyst at Aspen Capital since early 2016, specializing in real estate investments, commercial lending, and commercial property acquisitions. She is responsible for identifying trends in target real estate markets and analyzing current and past financial data and performance. Prior to joining Aspen Capital, she worked as a Marketing Associate with WME | IMG, where she researched, developed, and presented pitch-books and strategic planning materials for various business and sponsorship fulfillment initiatives. Rachel holds a B.S. in Sports Management and Business from Kent State University, where she also was a scholarship basketball player for four years.

JAMES MURAD
EASTERN CONSOLIDATED

JAMES MURAD

James Murad is a Director in the Capital Advisory Division at Eastern Consolidated. His responsibilities include managing client and capital market relationships as well as underwriting properties and projects for structured placements.
Working with Managing Director Adam Hakim, Mr. Murad has arranged close to $3 billion in financing for acquisition, construction, and conversion of hotels, condominiums, and multifamily rental properties.
Prior to joining Eastern Consolidated, Mr. Murad was an Associate at Prospect Capital Group. He began his career at GCP Capital Group where he handled analysis for the brokerage business as well as underwriting for in-house acquisitions and direct lending.
Mr. Murad graduated Magna Cum Laude from the University of South Carolina with degrees in Investment Finance and Real Estate and a minor in Hotel Management.

HILLARY MUSS
CUSHMAN & WAKEFIELD
Hillary Muss is a Senior Associate, Retail Services at Cushman & Wakefield. She joined the firm in 2014, after graduating from University of Wisconsin-Madison’s Real Estate Program with a B.B.A.

HILLARY MUSS

Hillary is an integral part of the brokerage team, led by Jim Downey and Eric Le Goff, specializing in tenant and landlord representation. She has completed national retail transactions totalling 150,000 square feet and $185 million in aggregate rental value. Hillary leads canvassing, market research and database management efforts and is key in business development, directing presentation strategies and platform development in both quantitative and local market disciplines.
Hillary has formulated expansion strategies for Nars Cosmetics, The North Face, Vans, Nautica and Timberland. She also helped secure The North Face’s 20,000 square foot flagship at 510 Fifth Avenue and Van’s 12,500 square foot flagship at 140 West 34th Street.
Currently, Hillary is working on the disposition of the 25,000 square foot Versace flagship, and she is executing the national expansion strategy for Champion in major retail markets. Hillary has completed transactions on behalf of Robert Clergerie, Devialet, Marine Layer, Fashionphile, and Goyard in New York, A Bathing Ape and Carolina Herrera in Los Angeles, and Time Out Market in Chicago.

MICHAEL NILSON
LANGAN

MICHAEL NILSON

Michael Nilson has swiftly risen through the ranks at Langan since graduating from Lafayette College in 2005. He is an associate at the firm, where he has worked on various projects for public agencies, private developers, institutions, and Fortune 500 companies.
As the single point-of-contact for multiple clients, Michael manages the coordination of Langan services on projects in the residential, institutional, retail, commercial, and municipal sectors with construction values ranging from $1 million to over $3 billion. He is responsible for managing a team of engineers and project managers who support his work from conceptual design through construction administration. Michael’s notable projects include One Vanderbilt, various developments within the Hudson Yards neighborhood, Jacob K. Javits Convention Center, The High Line, and a number of projects in the Brooklyn Academy of Music district.
Michael values continuing education and embraces technological advancements in engineering. He has developed and delivered internal training content on topics from regulatory permitting updates to sustainable design and IT services. He gives back to the engineering industry by mentoring staff at Langan and students at Lafayette College, and serving on the college’s ABET Industry Advisory Board. In August 2017, Michael graduated from NYU Stern’s Executive MBA program.

PATRICK NORRIS
COLLIERS INTERNATIONAL

PATRICK NORRIS

Patrick joined Colliers’ Princeton office as an Office Leasing Broker in the summer of 2016.His commitment to the firm and to clients was evident even during his first year, where he played a significant role in more than 15 lease transactions in the Princeton submarket. His ability to quickly adapt to new situations was also evident when Colliers’ New Jersey Market Leader, along with Executive Managing Director Jacklene Chesler, invited Patrick to join the firm’s Capital Markets and Investment Services team in Parsippany six months ago. Viewing it as an opportunity to further assist Colliers and to enhance his own knowledge, Patrick accepted. In that brief period, he has made a smooth transition from leasing to investment sales and has already been deeply involved in multiple investment sale transactions across the office, retail, industrial and multi-family sectors. Patrick continues to demonstrate his adaptability and flexibility on behalf of clients by engaging in traditional marketing, off-market transactions, and activity utilizing the Ten-X online platform.
“It’s been a pleasure and a valuable learning experience working with the Colliers team,” he says. “I look forward to expanding my knowledge and continued success in helping our clients achieve their goals.”

JACQUELINE NOVOTNY
CBRE

JACQUELINE NOVOTNY

Jacqueline joined CBRE’s Westchester/Fairfield office less than five years ago and quickly climbed to the position of First Vice President. While CBRE’s corporate guidelines establish a five-year threshold of employment to achieve this position, the firm waived this clause for her past two promotions, promoting Jacqueline to VP in three years and FVP in four years, due to her impressive accomplishments within a short period of time. In addition to her account leadership within CBRE’s Global Corporate Service platform, she provides tenant and owner representation, consulting and investment sales throughout the northern suburbs of New York City and the State of Connecticut.
In addition to her professional achievements, Jacqueline sits on the development committee for The Carver Foundation in Norwalk, CT. She also served as the co-chair for the Foundation’s 2017 annual gala, which raised over $420,000. In September of 2017, Jacqueline organized a concert to benefit the victims of Hurricane Harvey that raised over $12,000 and was attended by over 400 people. For the past four years, she has been on the Real Estate Breakfast Committee for the March of Dimes in Westchester with a yearly attendance of approximately 600 people.
Jacqueline earned a Bachelor of Business Administration degree from George Washington University. ​​

WILLIAM OEHLER
JPMorgan CHASE

WILL OEHLER

Will Oehler has worked as a client manager for the past nine years, and more recently as a Regional Sales Manager as a part of Chase’s Commercial Term Lending group. Since 1999, Will Oehler has originated commercial real estate loans through a variety of funding sources.
Will leads a team of Client Managers focused on multifamily apartment lending in New York City and its boroughs. Will is a member of REBNY and the Young Men’s and Women’s Real Estate Association where he enjoys participating in charitable events with Habitat for Humanity, The River Fund, City Harvest & New York Cares.

MICHAEL RAHIMZADA
CIGNATURE REALTY
Michael Rahimzada, age 23, joined Cignature Realty, a leader in Manhattan multifamily and mixed-use apartment building sales, in 2016 to pursue a career in commercial real estate investment sales.

MICHAEL RAHIMZADA

In 2017, Michael closed two deals working closely with Cignature Realty President Peter Vanderpool. Michael represented the seller in the $11.5 million sale on a five-story, mixed-use multifamily building in Hell’s Kitchen in Manhattan. The building, at 818 10th Avenue in Hell’s Kitchen, has 12 residential and two retail units. Michael also represented the seller, in the $15.5 million sale of 439-441-443 West 48th Street, a three-building, multifamily portfolio with 34 residential units also in Hell’s Kitchen.
Michael received a bachelor’s degree in management, with a minor in accounting from Yeshiva University’s Sy Syms School of Business. While attending college, Michael gained valuable business and real estate experience working as a marketing analyst for Cyweb Holdings Inc. a Great Neck-based marketing and advertising firm. In addition, Michael worked as a junior analyst at E Squared Capital Management, LLC., a New York-based investment firm, where he evaluated private and public companies.
Michael has earned his New York State Real Estate Salesperson license and is proficient in Hebrew and conversational Persian.

MICHAEL ROGOFF
THE ASHTIN GROUP

MICHAEL ROGOFF

As Senior Vice President and a member of the AKAM Living Services, Inc. Executive Echelon, Michael Rogoff is responsible for ensuring that the internal operations of all AKAM Living Services companies, including The Ashtin Group, are of a uniformly superior quality.
Working with each internal department including Management, Finance and Accounting, Payroll, and Closings and Transfers, Mr. Rogoff analyzes and fine-tunes all processes and procedures with a specific eye toward efficiency and client service.Mr. Rogoff holds an MBA with a concentration in Finance.

NICK RUSSO
JPMORGAN CHASE
Nick Russo is a Commercial Banker in J.P. Morgan’s Corporate Client Banking Specialized Industry’s Real Estate Group based out of New York, a leader in providing a broad spectrum of financing solutions to institutional real estate clients across the public and private markets nationally.

NICK RUSSO

Nick started his career 15 years ago within Real Estate Investment Banking, where he worked for 13 years with many global and domestic corporate real estate clients on a variety of financing and M&A advisory assignments. Nick had the opportunity to relocate to Sydney Australia in 2010 for half a year to help with the restructuring of an international real estate company post the financial crisis.
Nick joined the Commercial Bank in 2016 to apply his diverse industry knowledge and background across capital raising, corporate advisory, capital markets, lending and risk management to further expand existing and deepen new client relationships, while driving the growth of J.P. Morgan’s cross-platform real estate franchise.
Nick earned his B.A. in Business Economics from Brown University in Providence, Rhode Island.

DAN SACKS
GREYSTONE

DAN SACKS

Dan Sacks is a Managing Director at Greystone, a commercial real estate lending, investment, and advisory company headquartered in New York. Dan specializes in multifamily lending across a range of platforms provided by Greystone, including Fannie Mae, Freddie Mac, FHA, CMBS, mezzanine, and bridge financing.
Prior to Greystone, Dan worked in loan production at Wells Fargo, and also at Freddie Mac. Dan holds a Bachelor’s degree from University of Maryland College Park.

MICHAEL SALVATICO
MARCUS & MILLICHAP
Mike Salvatico is one of the region’s top investment sales executives with a multidisciplinary focus covering all asset classes across Brooklyn. He is the Riney Team’s second-in-command, responsible for overseeing the strategic vision of the team’s expansion and growth into new markets on top of normal day-to-day responsibilities of deal execution and is routinely at the helm of the team’s high-profile assignments.

MICHAEL SALVATICO

Distinguished by his uncanny ability to find, source and cultivate opportunities, Mike has gained notoriety as one of the office’s most prolific business generators and has redefined success for young agents entering the business. He has received numerous accolades since joining the firm and was the driving force behind the rapid expansion of the office’s market share in the Williamsburg and Greenpoint sections of Brooklyn.
He is considered a “portfolio manager” more often than not by many of the areas most active operators and has set price records in virtually every asset class during his time working the Northern neighborhoods of Brooklyn.
Mr. Salvatico attended the University of Maryland where he majored in Economics while also playing running back and free safety for the Terrapins football team under the tutelage of two-time ACC coach of the year Ralph Friedgen

JULIA SANABRIA
KASOWITZ BENSON TORRES LLP

JULIA SANABRIA

Julia represents clients in a wide range of real estate matters with a particular emphasis on commercial leasing. She represents various institutional and non- institutional clients in the leasing and subleasing of office and retail space throughout the United States, including major real estate players Boston Properties, Oxford Properties, The Related Companies, JEMB Realty, Extell Development Company, Forest City Ratner and Joy Construction.
Julia also has experience with joint ventures, the origination and restructuring of mortgage and mezzanine loans, developments, and loan workouts.
The real estate legal community in New York is a traditionally male environment, and Julia has succeeded as one of the leading women in the New York legal community. She is an active member of Kasowitz’s Women’s Initiative committee, and has also initiated a program for women in real estate by bringing clients and other women in the field together for networking gatherings. She has consistently been recognized as a “Rising Star” in New York Metro Super Lawyers.
Prior to joining Kasowitz, Julia served as in-house real estate counsel at ADP, and began her career as a real estate associate at Skadden, Arps, Slate, Meagher & Flom LLP.

JOSEPH SCARINCI
MKDA
Joseph Scarinci is a Vice President in MKDA’s New York office. Since joining the firm in 2008, he has worked as a CAD draftsman and senior project manager on commercial buildings, hospitality remodels, corporate offices, and fashion showrooms.

JOE SCARINCI

Joe maintains a strong reputation with his clients and is adept at overseeing all project phases, including but not limited to programming; layouts and schematic design; and management and coordination of sub consultants. His projects perform to bottom-line budget and schedule requirements.
Notable recent corporate projects include workplaces for brands SS&C Holdings and Epoch Investment Partners. He has worked on numerous commercial buildings on behalf of owners Boston Properties, Northwood, Meringoff Properties, Fisher Brothers, Rockrose and Vornado Realty Trust. This work includes prebuilt suites, marketing suites, common areas and lobbies.
Prior to joining MKDA, Joe was a draftsman and junior architect at a handful of architecture firms around New York, where he worked on commercial office projects, ground up commercial and school design.
He earned his Bachelors of Architecture from the New York Institute of Technology, where he held leadership positions in student government and the Tau Sigma Chi Fraternity.
In addition, he was chosen to be one of 12 to participate in the AIA Regional Urban Design Assistance Team (AIA RUDAT), an elite program that pairs student architects with professional architects from around the world.

LARRY SCHIFFENHAUS
CBRE

LARRY SCHIFFENHAUS

Larry Schiffenhaus joined CBRE’s Saddle Brook, New Jersey team in winter 2016. He brings with him a strong record of achievement as an Assistant Vice President at Transwestern, where he was recognized as an emerging leader for his involvement in transactions that closed more than 2.5 million square feet of industrial real estate.
With a focus on expanding agency, off-market and investment sales, Larry has made an impact on the business through his professionalism, diligence and extreme attention to detail. In addition to specialized expertise in investments, Larry manages a strong portfolio of occupier representation and agency business that complements what is currently one of the top industrial brokerage teams in the country. His current client list includes: Prologis, Duke Realty, Sitex Group, Bridge Development Partners, Cohen Asset Management, Terreno Realty Corporation, CenterPoint Properties, CEVA Logistics and RIM Logistics.
A New Jersey native, Mr. Schiffenhaus currently resides in Hoboken, New Jersey with his fiancée, with whom he enjoys traveling, golfing and skiing. Larry graduated from James Madison University with a bachelor of science in business administration with a concentration in marketing. He is also pursuing his Certified Commercial Investment Membership (CCIM) designation.

JONATHAN SCHWARTZ
EASTERN CONSOLIDATED

JONATHAN SCHWARTZ

Jonathan Schwartz is a Senior Director in the Investment Sales Division at Eastern Consolidated, specializing in the sale and acquisition of multifamily and mixed-use properties in Manhattan and Brooklyn.
Mr. Schwartz has closed $300 million in transactions. His signature deals include the 50-room Orchard Street Hotel at 163 Orchard Street, which sold for $23.75 million, and the 186-unit Inwood Portfolio, which traded for $31 million. In 2015, the Commercial Observer recognized him as one of New York City’s 30 Under 30 Rising Real Estate Stars.
Prior to joining Eastern, Mr. Schwartz was an Investment Sales Associate at Marcus & Millichap where he exclusively focused on representing buyers and sellers in Northern Manhattan. During his tenure he received the firm’s Rookie of the Year Award and Pacesetter Award.
Mr. Schwartz received his Bachelor of Arts in Political Science from Tulane University. He is a member of the Real Estate Board of New York (REBNY).

KURT E. SCHWARZ
JPMORGAN CHASE

KURT SCHWARZ

Kurt E. Schwarz has served as Senior Client Executive for the J.P. Morgan Real Estate Banking Southeast Region since J.P. Morgan Chase’s acquisition of WaMu in September 2008. Kurt focuses on banking top-tier national commercial real estate development and investment firms based in the southeast.
Kurt began his career with Bank of America predecessor (NationsBank) in January 1994 in the management training program for commercial banking, working for Bank of America almost eight years. He was selected to become an analyst in NationsBank’s Real Estate Banking Group in December 1994 and covered Maryland and Philadelphia in both Credit and Business Development roles during tenure.
Kurt also previously served in a Business Development role with a Capital One Bank predecessor (Hibernia National Bank) for approximately four years in its Commercial Real Estate group in New Orleans, LA. He successfully built a book of business in Houston and Dallas. He previously started Washington Mutual Bank’s Atlanta Commercial Real Estate Lending office in April 2005.
Kurt graduated from Radford University in 1993 with a BBA, majoring in Finance and minoring in Economics.

TAYLOR SCHEINMAN
CBRE

TAYLOR SCHEINMAN

Taylor Scheinman is a Vice President with CBRE’s Advisory and Transaction Services group based in Midtown Manhattan.
A tenant representation specialist, Taylor is adept at developing long-term real estate solutions for clients—from successfully executing lease acquisition and disposition strategies to negotiating complex renewals and formulating creative cost reduction strategies. Taylor has particular expertise in addressing the unique real estate needs of alternative investment firms and also has considerable experience working with companies in the TAMI (technology, advertising, media and information technology) sector. A market expert, Scheinman has extensive knowledge of Midtown and Midtown South, having completed transactions throughout Manhattan.
Prior to joining CBRE in 2015, Taylor worked at Newmark Grubb Knight Frank, where she was an integral part of a team focusing exclusively on tenant representation—advising corporate occupiers on strategies for local and domestic portfolio optimization and site selection.
Taylor graduated from Indiana University, which she earned a Bachelor of Arts in Criminal Justice; she additionally earned a Business Foundations Certificate from The Kelley School of Business.

BEN SHAPIRO
NEWMARK KNIGHT FRANK

BEN SHAPIRO

Ben Shapiro joined Newmark Knight Frank in 2013 and currently serves as a senior managing director in the firm’s New York headquarters. Mr. Shapiro possesses a depth of experience in landlord and tenant representation throughout Manhattan, with a focus on the representation of large corporate tenants and institutional owners of real estate. Mr. Shapiro acts as the exclusive agent for the marketing, repositioning and leasing of a number of high-profile properties on behalf of a variety of institutional and entrepreneurial building owners. He has also been an active contributor at NKF, assisting leadership with the enhancement of the company’s robust technology platform. Notable recent tenant representation assignments include Peloton’s 70,000-square-foot headquarters lease at 125 West 25th Street, and the 160,000-square-foot sublease on behalf of The New York Times at 620 Eighth Avenue. In addition, Mr. Shapiro represents notable high- profile landlords such as Blackstone, Hines, Norges, Trinity, Angelo Gordon, Normandy, Ivanhoe Cambridge/Callahan Capital Properties and RXR Realty.

DANIEL SHIRAZI
SKYLINE PROPERTIES
Daniel Shirazi is the Executive Vice President of Skyline Properties (“Skyline”) and works on a broad and diversified range of investment quality real estate opportunities. In his first year at Skyline, Daniel successfully negotiated a $65 million ground lease for 236 5th Avenue, NY, NY, a 100,000-square-foot office building.

DANIEL SHIRAZI

Leveraging a decade’s worth of real estate experience both as an attorney and real estate broker, Daniel is able to offer his clients unique insight along with knowledge that is unparalleled.
While his background gives him a wide range of experience, Daniel has been especially active in ground leasing office buildings and other commercial assets in the Tri-State area. His expertise and discipline allowed him to develop an extensive database of clients that includes all of the major investors, that are active in the commercial real estate arena.
Mr. Shirazi is a graduate of St. John’s University, The Peter J. Tobin College of Business where he received his BS in Marketing and Touro College Jacob D. Fuchsberg Law Center where he received his JD in Law.
It is the combination of Mr. Shirazi’s entrepreneurial background, and drive to succeed that make him an ideal candidate as a Rising Star.

CHRISTOPHER SKITCH
CIGNATURE REALTY
Christopher Skitch, age 28, joined Cignature Realty, a leader in Manhattan multifamily and mixed-use apartment building sales, in 2016 to pursue a career in commercial real estate investment sales.

CHRIS SKITCH

Christopher recently worked on the sale of 1675 Lexington Avenue an 11,355 square foot five-story corner multifamily building with 12 residential units and one retail unit in Harlem for $5 million. On this deal, he represented the seller and Cignature Realty President Peter Vanderpool, represented the buyer. Christopher’s second transaction is under contract for $20 million which he anticipates closing in the second quarter of 2018.
Prior to his commercial real estate career, Christopher served as a brand marketing strategist at Leading Hotels of the World, Ltd., a luxury hospitality organization. He was the founder of an online trading business specializing in art, antiques and high-end home furnishings. Before founding his own company, Christopher worked in the beverage industry where he served as a business development manager at Anheuser-Busch developing new business across London and the United Kingdom. He also completed the Heineken Sales and Marketing Graduate program.
Christopher has a business degree from Queen Mary, University of London where he graduated in 2012 and has earned his New York State Real Estate Salesperson license. He is a dual national of the United Kingdom and the United States of America.

CAROLINE SMYTH
PROCIDA FUNDING & ADVISORS

CAROLINE SMYTH

Caroline Smyth joined Procida Funding and Advisors in May of 2016. Caroline facilitates in maintaining accurate and well organized financial data for the company. She supports Ali in investor relations for all 100 Mile Fund Shareholders. Caroline also provides support for her colleagues by helping them with situations involving the company financially. Before joining Procida, Caroline worked in both the accounting and hospitality fields giving her a versatile set of skills to bring to the Procida team.

MICHELLE STIEGLITZ
CERTILMAN BALIN
ADLER & HYMAN LLP
Michelle L. Stieglitz, an Associate in the Real Estate Practice Group at Certilman Balin Adler & Hyman, LLP, represents clients in all aspects of real estate law, including, but not limited to, commercial leasing, residential and commercial real estate transactions, development and real estate financing.

MICHELLE STIEGLITZ

Active in her community, Ms. Stieglitz is a mentor in the Lawyer’s Involved in Kid’s Education (LIKE) program, an affiliation of the Long Island Mentoring Partnership, where she mentors “at risk” fourth and fifth grade students. She has served on the American Heart Association’s Go Red for Women Luncheon Committee and is an active member of the Parent’s Association at her son’s school, The Bridges Academy.
Ms. Stieglitz earned her Bachelor of Arts Degree in both Finance and Business Administration (with a dual concentration in Marketing and Management) from the John F. Welch College of Business at Sacred Heart University in 2004. She earned her Juris Doctor, magna cum laude, from the Hofstra University School of Law in 2011, where she served as Associate Editor of the Hofstra Law Review.

JERRY SWON
MARCUS & MILLICHAP

JERRY SWON

Mr. Swon started his Commercial Real Estate Brokerage Career in 2013 after 10 years working in Venture Capital. Prior to his time with Marcus and Millichap Jerry spent two years working for Brown Harris Stevens Commercial as a Director, Investment Sales. In 2014 Jerry joined Marcus and Millichap to build their Hospitality Investment Sales team in NYC. Since the teams inception it has grown to five brokers with a full support staff. Mr. Swon was promoted to First Vice President of Investments in the Summer of 2017. He is a graduate of Skidmore College and resides in Chatham, NJ with his wife Kristin and two daughters, Abigail (8) and Ellie (5).

ELAN TEICHMAN
CIGNATURE REALTY
Elan Teichman, age 24, joined Cignature Realty, a leader in Manhattan multifamily and mixed-use apartment building sales, in 2016 to pursue a career in commercial real estate investment sales.

ELAN TEICHMAN

Elan closed his first major deal less than a year after starting at Cignature Realty. Together with Cignature Realty President Peter Vanderpool and Cignature Realty CEO Lazer Sternhell, Elan sold a 95-unit apartment building at 200 Haven Avenue in Washington Heights for $41 million. In November 2017, he also worked on the sale of 926 Amsterdam Avenue a five-story multifamily building with 10 residential and two retail units in Manhattan Valley for $5.8 million.
During college, Elan held prestigious internships at the United Nations and in the financial sector. Elan interned at CB Alliance, a boutique private equity firm, Accelerant Ventures, a venture capital fund and Pine Bridge Investments, an asset management firm.
Elan is a graduate of Yeshiva University in New York where he earned a bachelor’s degree in history, with co-minors in psychology and business and a full scholarship to the Jay and Jeanie Schottenstein Honors Program. Elan has earned his New York State Real Estate Salesperson license.

SARA TSIROPINAS
RAND ENGINEERING & ARCHITECTURE, DPC

SARA TSIROPINAS

When she’s not keeping our city’s streets safe by performing facade inspections outside hi-rise buildings hanging by only a rope some 50 stories above the ground, RAND Engineering & Architecture’s Project Architect Sara Tsiropinas, RA is hard at work providing design, specification, and construction administration services on exterior repair and upgrade projects for buildings of all shapes and sizes.
An avid rock climber and natural athlete, Sara created and leads RAND’s Industrial Rope Access Team. She helped to pioneer facade inspections by industrial rope access in New York City, making RAND the first and currently only full-service engineering and architectural firm qualified by NYC DOB to perform NYC local law facade inspections by rappelling along the sides of buildings.
Sara is a Registered Architect in New York State and a LEED Accredited Professional, and holds certifications as a SPRAT Level 2 Rope Access Technician and a Level 1 Infrared Thermographer. She is also an active volunteer with USA Climbing, South East Consortium, and RAND’s Mentoring USA program, where she mentors and inspires future architects and engineers from City Polytechnic High School of Engineering, Architecture, and Technology.

DIMITRI VENEKAS
CPEX REAL ESTATE

DIMITRI VENEKAS

Dimitri Venekas is Associate Director of the CPEX Retail Sales Team. He joined CPEX in 2015 as an Associate upon completing the company’s Sales Training Program. In this position, he is responsible for managing all projects within the business line, including evaluations of properties, prospecting for new business, and marketing the team’s growing list of properties. At CPEX, Dimitri has brokered numerous transactions totaling approximately 100,000 square feet, with an aggregate sales value of nearly $50 million.
Prior to joining CPEX, Dimitri interned at Massey Knakal Realty Services with a focus on the Bay Ridge, Sunset Park, Windsor Terrace, and South Slope markets in Brooklyn. He also worked at Pan Brothers Associates as a summer intern, where he learned the principles of property management.
Dimitri graduated from Loyola University in 2015 with a Bachelor of Administration in Finance. While at Loyola, he was a co-founder of the Loyola Real Estate Club. He currently resides in Bay Ridge, Brooklyn.

RICARDO VERA
NEWMAN FERRARA

RICARDO VERA

Ricardo is a member of the firm’s real-estate and commercial-litigation groups, representing clients in a wide spectrum of disputes involving landlords and tenants, cooperatives/condominiums, real-estate development and acquisition, foreclosures, leasing and rent regulation.
Ricardo, who became a partner in 2015, has been identified as a “Rising Star” by Super Lawyers Magazine–which publishes an exclusive list of the top 2.5% of the New York Metropolitan area’s lawyers.
He earned his undergraduate degree from Hofstra and his law degree from the New York Law School, where he was a member of the Journal of International and Comparative Law.

LINDA VIRTUE
IDEAL PROPERTIES GROUP

LINDA VIRTUE

Linda Virtue is a true New Yorker. As a New York City marathon runner and New York City street photographer, her passion lies in the streets of the city. Linda understands that transitions can be difficult and values people, authentic interaction and trust. Before diving into her profession as a real estate agent, Linda spent years in the New York City fashion industry. Her background is multi-dimensional and spans from working with creatives and customers to directors and producers. There, she learned an elementary truth: that at the end of the day, it’s really about people. Linda is dedicated to understanding the needs of her clients, working diligently to help them achieve their dreams, be it a dress, a goal or a new apartment.

TIM WARD
LANGAN

TIM WARD

Tim Ward is an associate at Langan who manages complex engineering projects around the world, ranging from Rockefeller University’s new laboratory building over the FDR Drive and Dock 72 at Brooklyn Navy Yard to Basrah Sports City, a 360-acre stadium complex in Iraq.
Tim’s success as a leader stems from empowering those he works with and listening to others. He willingly seeks advice from peers and mentors, and uses those lessons learned to combat any project challenges that arise.
Beyond his role at Langan, Tim’s leadership is visible through his position as President Elect of American Society of Civil Engineers Metropolitan Section, comprising more than 5,000 members. He is also an active member of the New York Building Congress Young Professionals Steering Committee, which mentors the next generation of industry leaders through various networking and educational events, and Treasurer of the NYC Future City Competition, which introduces middle school students to engineering design.
While Tim takes pride in his career and accomplishments, he is most proud of his family, which includes his wife and young daughter. He spends his free time exploring the city, traveling with family, and playing first base for Langan’s softball team.

DEREK WEISSMAN
PROCIDA FUNDING & ADVISORS

DEREK WEISSMAN

Derek Weissman joined Procida Fund and Advisors in June 2015. June 2015, following an internship in 2014. He graduated from University of Colorado Boulder. Derek along with Mike Coen will be handling will be handling the day-to-day operations of the 100 Mile Fund loan portfolio.
Since joining Procida, Derek has been directly involved in the underwriting, closing and asset management of over $200 million of construction, bridge and DIP loans.
While at CU Derek studied Business Management and earned a certificate in Real Estate. Before joining Procida, Derek worked as a Market Research Analyst for Colliers International. While in school, Derek also held a position at Hapoalim Securities, working with the structured CD’s and Compliance departments.
While at University of Colorado Boulder Derek was a member Phi Kappa Psi fraternity.
Most Recent Accomplishment: Derek recently oversaw the completion of the renovation to the historic Divine Lorraine Hotel in Philadelphia. Derek’s oversight and construction management has helped position developer Eric Blumenfeld and his project for many nominations for best historical renovation and historical preservation. This project has been widely covered and recognized throughout Philadelphia and the entire country.”

TRAVIS WILSON
NEWMARK KNIGHT FRANK

TRAVIS WILSON

Travis Wilson serves as a Managing Director in Newmark Knight Frank’s Lower Manhattan office, where he specializes in providing strategic real estate advisory services to tenants and landlords throughout New York. Mr. Wilson represents tenants from a broad range of industries including: financial, fashion, legal, insurance, healthcare, not-for-profit, education, creative and technology. As a landlord agent, he currently handles over 2 million square feet of office space in Lower Manhattan. In addition to his work in Manhattan, Mr. Wilson works in unison with Newmark Knight Frank Global Corporate Services to provide lease negotiations, strategic planning, financial due diligence and cost reduction strategies to multinational corporations.

DANIELLE WINICK
WINICK REALTY GROUP

DANIELLE WINICK

Though she hails from one of the most important real estate families in New York City, Danielle Winick has successfully made a name for herself as one of the most accomplished young retail brokers in the industry today.
Since joining Winick Realty Group in May 2016, Ms. Winick has leveraged her family’s real estate presence and lifelong residency in New York to develop a unique insight into both the business and the city. This has provided an invaluable perspective on placing tenants in the perfect neighborhoods and spaces. Her broad array of completed retail deals includes HitHouse at 2 Spring Street, Gracia Fashion at 225 West 39th Street, Cleo Nicci at 65 Spring Street, and Hao Noodle & Tea at 343 West 14th Street. In a short period of time, she has developed strong relationships with many of the city’s largest landlords, leading to exclusive assignments marketing prime retail spaces on behalf of The Moinian Group and Walter & Samuels. She has also been involved in marketing the Neptune/Sixth redevelopment project, where over 90,000 SF has been rented thus far.
A graduate of New York University’s Stern School of Business, Ms. Winick was the recipient of the Lewis Rudin City Scholarship for outstanding academic and cultural work.

JENNIFER A. YASHAR
FRIED FRANK HARRIS
SHRIVER & JACOBSON LLP

JENNIFER YASHAR

Jennifer A. Yashar is a partner in Fried Frank’s Real Estate Department. She joined the Firm in 2005 and became a partner in 2016. Ms. Yashar counsels owners, developers, financial institutions, and corporations on a broad range of commercial real estate transactions, with a focus on commercial leasing for landlords and tenants. Ms. Yashar was recently recognized in Real Estate Forum’s “Fifty Under 40” and was appointed to The American Lawyer’s Young Lawyer Editorial Board.
Recent representations include:
Brookfield Properties in various leases to Bank of America, including 340,000 square feet at 1100 Avenue of the Americas, 127,000 square feet at 1114 Avenue of the Americas and 130,000 square feet at 225 Liberty Street.
Shiseido Americas in its 220,000-square-foot lease at 390 Madison Avenue and JP Morgan Chase in the leasing of the remaining space at 390 Madison Avenue, over 435,000 square feet.
Brookfield Properties in its leasing of Manhattan West, including 550,000 square feet to Skadden, Arps, Slate, Meagher & Flom and a 160,000-square-foot lease to the NHL.
21st Century Fox and News Corp. in their lease renewals and extensions totaling more than 1.2 million square feet at 1211 Avenue of the Americas.

ALLISON ZAMPETTI
LEVIEN & COMPANY

ALISON ZAMPETTI

A Principal at Levien & Company, Allison serves as Owner’s Representative for a wide variety of nonprofit and commercial clients. Since joining the firm in 2009, Allison has become a leader in developing the firm’s standards of practice and managed more than $250 million in construction projects. The multi-phased renovation of the Park Avenue Armory – which entailed major infrastructure upgrades and historic restoration of iconic interior Landmarks while maintaining full operation of the facility – has been a highlight of her professional experience. In 2015, she completed construction of the Hajjar STEM Center for the Dwight-Englewood School, which was recognized with the AIA’s 2016 Education Facility Design Award. Her current work includes the development of a 110,000 sf affordable housing project for Clinton Housing Development Corp. on Manhattan’s west side and a new LEED Gold branch library for the Brooklyn Public Library.
Allison is also an adjunct professor at NYU’s Schack Institute of Real Estate, teaching a graduate-level course in Construction Budgets and Cost Management.  She received her B.S. in City & Regional Planning from Cornell University and her M.S. in Construction Management from NYU. Allison serves on the Executive Board of CREWNY, New York’s chapter of CREW Network.

JUSTIN ZEITCHIK
BESTREICH REALTY GROUP
Justin Zeitchik, 27-years-old, is a senior associate at Bestreich Realty Group, BRG, a commercial investment sales firm founded in 2016 that specializes in the sale of multifamily, mixed use and development site properties.

JUSTIN ZEITCHIL

Zeitchik co-heads the company’s Williamsburg/Greenpoint investment sales team focusing on multifamily, mixed use and development sites in Brooklyn. During the course of his career he has closed 42 transactions valued at $135 million.
“Justin has a strong broker’s mind, with a keen understanding as to market trends, pricing and dynamics,” said BRG Founder Derek Bestreich. “He knows who’s who in terms of market participants and buyers’ acquisition appetites allowing him to efficiently create win-win real estate transactions.”
Zeitchik joined Bestreich Realty Group in 2017, but has worked in the real estate industry for over four years. He graduated from Arizona State University with a bachelor’s degree in finance.
He is a member and donor of the Juvenile Diabetes Research Foundation (JDRF) and supporter of Belev Echad, which repays a debt of gratitude to the Israeli Defense Forces. In his spare time, he boxes at Brooklyn Boxing Academy a few times a week.
“2017 was a really fun and exciting year all of us,” said Zeitchik. “While some of the larger firms notably pushed into the $30 million to $200 million space, BRG stepped in and filled the void in the $1 to $30 million middle market range and I was proud to be part of that push.”

 

 

 

 

 

 

 

 

 

 

 

 

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DOB publishes first-ever report on NYC’s 84,000 elevators

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The New York City Department of Buildings (DOB) recently published the agency’s 2017 Elevator Report –  a comprehensive study of the City’s more than 84,000 elevator devices that includes data-driven maps and animated graphics showing the history, current status, and vital statistics.

The agency’s report includes an interactive map of every elevator in the City, including passenger and freight elevators, escalators, dumbwaiters, and roller coasters. It also features a history of the elevator in NYC, statistics on elevator use within NYC, a 3D map of the City’s elevators in motion, details on how the DOB regulates the City’s elevators, and info on the DOB’s new online portal, DOB NOW.

“Elevators make life possible in our vertical city – and while they’re one of our most-used forms of transportation, they’re also one of the least understood. Our report brings all 84,000 of the city’s elevators to life, with interactive maps, a history of the elevator, and much more. DOB is committed to using data to help New Yorkers better understand the built environment we call home,” said Buildings Commissioner Rick Chandler in a press release.

The report uses data from 2017 to give an overview of the city’s elevator stock – one of the largest and oldest in the world. It also details how the DOB’s Elevator Unit regulates the city’s elevators, escalators, amusement rides, and other devices by performing inspections, testing, and plan reviews.

The Elevator Report is the latest in a series of interactive dashboards from DOB’s Data Analytics Team.

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Doormen strike avoided as union reaches tentative agreement

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The Realty Advisory Board and the union representing more than 30,000 doormen, porters and supers reached a tentative agreement on April 13 that calls for increased wages and benefits.

The tentative four-year agreement would provide 2.73 percent raises each year, totaling a 11.3 percent raise to more than $55,000 for a typical doorman by the end of the agreement. The pending contract also calls for a 0.59 percent yearly increase in benefits. The agreement also would continue the current benefit pension and 401K annuity with employer contribution, according to the RAB. It’s been 27 years since the last 32BJ strike and the current contract, if ratified by both sides, would last until April 20, 2022.

“This agreement honors the valuable contributions of the hardworking men and women who keep our building running and make our city strong,” said Hector Figueroa, president of 32BJ SEIU. “With this agreement our members, our families and our communities are moving forward.”

The tentative agreement comes a couple days after 32BJ held a rally on April 11 with an unanimous authorization vote to strike.

“We are proud to have reached a fair and successful agreement. It will continue to create and provide middle class jobs and ultimately bring us to more than thirty years of uninterrupted labor peace,” Howard Rothschild, RAB’s president, said. “Both sides thoughtfully considered the economic realities of the industry moving into the next four years, allowing us to reach a mutually beneficial agreement. We have agreed on fair and reasonable wage increases for employees and the continuation of our excellent health plan, while controlling costs for employers.”

The tentative contract is still awaiting ratification from both sides before the April 20 expiration of the current agreement.

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New life for old Tappen Zee Bridge bits

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Chunks of the old Tappan Zee Bridge will be reborn in an artificial reef being created around Long Island.
Governor Andrew Cuomo announced yesterday (Tuesday) a plan to ship some 43,000 cubic yards of cleaned and recycled material from the bridge to be used in the offshire structures along the shores of Smithtown, Shinnecock, Moriches, Fire Island, Hempstead and Rockaway.

A total of six artifical reefs are being built in an effort to improve marine life diversity and sustainability while boosting the area’s fishing industries.

“The sustainability and health of New York’s marine resources is critical to communities along our shores, and by constructing these reef habitats, we are investing in a stronger more diverse marine ecosystem,” Cuomo said.

“As the largest artificial reef construction program in state history, these efforts will increase New York’s marine bio-diversity, provide new habitats for a variety of coral and fish, and support a growing tourism industry that brings thousands of anglers and travelers to Long Island’s pristine waters every year.”

The creation of the artificial reefs begins in May, when the state will deploy 33 barges of old Tappan Zee bridge material to their various locations.

The bridge parts will be placed on top of 338 cubic yards of steel pipe from the state Department of Transportation and 5,900 cubic yards of jetty rock to create the reefs.

The artificial reef is created when the materials sink to the sea floor and fish such as Blackfish, Cod and Striped Bass build habitats within the new structure. The fish are joined by encrusting organisms like barnacles, sponges, anemones, corals and mussels who attach themselves to the artificial structure, eventually maturing it into something similar to a natural reef.

The state is removing parts of the old Tappan Zee Bridge in manageable pieces while simultaneously completing the new Mario M. Cuomo bridge that is due to officially open later this year.

The new bridge has been operating since August 2017 with a temporary traffic pattern of four westbound lanes with four eastbound lanes on the old bridge. Recently, all the traffic from the old bridge was shifted onto the new bridge as it completed its first eastbound span and can now provide four lanes in each direction.

The state is expecting to complete the new bridge’s second span, while demolishing the remainder of the old bridge, this year.

When completed, the new Tappan Zee Bridge will have eight 12-foot wide lanes, four emergency lanes, a dedicated bike and pedestrian path, and scenic overlooks.

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Opportunity Zone Program turns blight sites into tax havens for asset-rich investors

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The rich are getting richer in America but that prosperity is not trickling down the economic food chain, with investment capital pooling up in thriving portions of big cities.

One reason for this, experts believe, is the amount of wealth tied up in assets—real estate holdings and stock portfolios, primarily—that can’t be accessed without being subjected to hefty capital gains taxes.

Facing the prospect of losing close to a quarter of their profits to the taxman, or potentially more if depreciation is involved, the investor class has chosen to hold its assets and allow them to continue adding value.

However, a little-heralded component of the Tax Cut and Jobs Act aims to address this issue by lowering taxes on capital gains that are funneled in investments in economically depressed areas.

“If you’re a real estate investor, it looks like the greatest government program you’ve ever seen,” Frank Giantomasi, a lawyer with the law firm Chiesa, Shahinian & Giantomasi, said. “And if you’re a troubled area, you now have pools of private equity that you can go after to address your community’s needs.”

Within this program, investors will have 180 days to flip a capital gain into a Qualified Opportunity Fund. These funds must keep 90 percent of their assets in designated Opportunity Zones, areas with a poverty rate of at least 20 percent or a median income of no more than 80 percent of the area average.

Each state can nominate a quarter of its eligible low-income communities to be Opportunity Zones within the new program. Qualified areas have been identified by the U.S. Census Bureau. New York, for example, has 2,055 recognized low-income tracts so it can nominate 514 to be Opportunity Zones.

Opportunity Fund investors get the benefit of immediate deferral. If a property owner sees $200,000 profit on the sale of a building, he pays no taxes as long as the money stays in the fund. The longer he stays in the fund, the greater the potential benefit.

After five years, he sees a 10 percent basis reduction, meaning if he pulls out of the fund, he’d pay a 20 percent capital gain tax and a 3.8 percent net investment income tax on $180,000 plus the same rate on whatever the fund earns. Assuming seven percent growth either way, he leaves the opportunity fund with $218,509 instead of $213,748 if he were to have held onto the building for five more years.

Meanwhile, if a stock trader sells a portfolio for the same amount but keeps her earnings in an opportunity fund for seven years, she sees a 15 percent drop in basis. Assuming the same seven percent interest, she pockets $251,861 from the fund instead of $244,721 from the market. If either stays in an opportunity fund for 10 years, they get the 15 percent basis reduction and pay no tax on the money earned by the fund. They’d net $352,970 compared to $299,793.

“It’s an excellent government policy to redirect capital toward census tracts that have historically not had a lot of investment in them,” Sean Aylward, vice chair of Chiesa, Shahinian & Giantomasi’s corporate and securities group. “It comes at a time when the stock market is at all-time highs, when real estate is booming but also when parts of the country are hurting economically.”

Last year alone, the U.S. added $8.5 trillion worth of wealth, according to the Credit Suisse Research Institute’s Global Wealth Report 2017. The average net worth was $388,585 but the median was a mere $55,876. The pie got bigger, but the slices didn’t grow proportionately.

The Opportunity Zone Program is the brainchild of Senators Tim Scott, a South Carolina Republican, and Cory Booker, the junior Democrat from New Jersey.

Yet, while the concept is fully-self funded and appeals to the agendas of both parties — offering (geographic) wealth redistribution along with tax relief for the rich — it has received little publicity, even from conservative circles that held up the reform package as the crowning achievement of the Trump Administration’s first year.

Despite the promise of the program’s broad strokes, Stuart Saft, a partner at the law firm Holland & Knight, said the lack of finer details has suppressed enthusiasm. The IRS and Treasury Department are charged with monitoring the program and those agencies have yet to establish regulatory policies.

“The question is one of enforcement and it comes down to what impact the enforcement has on the investors,” Saft said.
“If you sold something and you’re sitting there with a large capital gain and you’re told that an investment qualifies you for tax relief and then you find out it doesn’t, what happens? If something goes wrong with the Opportunity Zone, in which you have no control, could you be hit with all your taxes right away? That’s the sticking point.”

There’s also the question of where these Opportunity Zones will be located. The deadline for nominations was March 21, but New York State was granted a 30-day extension. New Jersey, on the other hand, submitted its 169 nominees last month and it awaits confirmation.

Garden State officials selected a mix of urban and rural communities and New York is expected to follow suit, although it has significantly more eligible tracts and a wider range of issues.

“We have very different problems here than [New Jersey does], primarily because New York State is so large,” Saft said.

“You have huge areas of the Upstate area that are absolutely poverty-stricken; ever since mills and clothing manufacturing moved out of New York, they’ve never recovered. But there are also parts of New York City that could benefit from further development and even areas that are considered wealthy like Westchester, Nassau and Suffolk County.”

Although there hasn’t been much outward lobbying for these designations, Saft believes horse trading is taking place “quietly and behind the scenes.”

Also, unlike a government mandate, this program provides no guarantees to the areas selected as Opportunity Zones. That, too, is up to the free market.

If no Opportunity Fund sees a path to profitability in Flemington, a rural community in central New Jersey, then it will receive no investment.

Meanwhile, if a fund sees opportunity in a designated part of Jersey City, it could use its capital to address that community’s every need and all but guarantee a positive return.

Also, there’s no requirement for investors to keep their money local and this, too, cuts both ways.
A Manhattan mogul could flip her gains into a fund that specializes in Grand Forks, North Dakota just as easily as a Detroit prospector could funnel his earnings into South Florida.

Similar programs have been tried in the past and exist today, but none offers the same flexibility as the Opportunity Zone Program.

The Clinton Administration, for example, saw the creation of Empowerment Zones, which offered tax breaks and loan assistance in economically depressed areas, and enterprise zones have been a staple of western governments for decades.
In the U.S., though, Saft said these programs have often failed because they’ve been subject to Congress renewal, which the Opportunity Zone Program is not.

Aylward said the closest equivalent, at least in real estate, is the 1031 Exchange, which allows property sellers to avoid capital gains if they put their earnings into another real estate investment. Unlike the 1031 Exchange, however, this program includes a path to liquidity.

“It’s a cousin to a 1031, but there are some pretty significant differences and benefits that come with the Opportunity Zones Program,” Aylward said. “You have the initial deferral, the basis step and, if you hold for the full 10 years, you get to exclude any gain. So if a million-dollar investment turns into two million dollars, you get to keep the full second million.”

Giantomasi, whose firm is already working on programs to help guide investors through the Opportunity Zone Program, said there’s already a buzz among potential investors, particularly among those interested in estate planning.

Once the zones are set and funds are in place, Giantomasi predicts a rush of sales activity among investors looking to have liquid assets by December 31, 2019, when all Opportunity Fund investments must be in place to qualify for the 15 percent basis reduction. He envisions this having compounding benefits for the U.S. economy.

“It’s going to keep investment dollars in the United States because you have to invest here not somewhere in Asia,” he said.

“People will begin to liquidate assets that they would heretofore consider un-liquidatable and the incentive will not be to buy and hold but to invest and develop.”

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Rechler takes aim at gun laws

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Scott Rechler has done something few of his peers in the real estate industry have been willing to do: take a hardline stance on guns.

Though he identifies as a “strong supporter of the Second Amendment,” the chairman and CEO of RXR Realty has been a vocal advocate of gun law reform since 2012.

After watching teens from Parkland, Fla., home to the most recent high-profile school shooting, rally students across the country this spring, Rechler said he believes it’s time for the business community to get involved, too.

“It’s time for business leaders to speak out,” he said. “The gun debate has been sort of a third rail issue and, because of that, I think a lot of business leaders have stayed away from it so a lot of businesses have stayed away from it.

“However, there’s a view that if moms can do it and kids can do it, businesses can do it, too.”

Rechler will spend the next two months building a consortium of business leaders committed to taking steps to curb gun violence, both within the context of their own businesses and through collective lobbying at the federal level.

Pointing to Delta Air Lines’ decision to cut ties with the National Rifle Association and Walmart’s choice to raise the minimum age to purchase ammunition to 21 as examples, Rechler said there are many ways to use the free market to influence policy and counter special interest groups.

He also encourages his fellow property owners to create gun-free zones and facilitate conversations about gun safety with tenants.

Although the issue is not always discussed openly in the business community, Rechler said it is something that his peers feel strongly about. In fact, the idea for the business leaders’ initiative came about after several executives reached out to him in the immediate aftermath of the Parkland shooting.

“They wanted to start their own organizations, form their own PACs, they wanted to do something … anything to prevent such a tragedy from happening again,” he said. “But rather than starting new initiatives, we are far more effective when we are unified in taking action – especially against a well-organized opposition.”

Rechler sent out an email to his network about starting a gun safety movement, expecting 20 or so responses only to hear back from more than 200 people from across the country.

Paul Massey, president of New York Investment Sales at Cushman & Wakefield, is one of the executives who has already thrown his support behind the movement. He said Rechler’s personal initiative is what won him over, comparing the real estate executive to another businessman who ventured into politics: former Mayor Michael Bloomberg.

“It’s great that Scott is being proactive about political issues and taking a leadership role,” Massey said. “It’s a great example of, like Mayor Bloomberg, someone who’s had great success but also has great values. They’re both passionate about their businesses but their also have passion about this city and this country.”

Rechler provided names of two other New York executives who’ve agreed to join the cause but when reached by Real Estate Weekly this past week, the two men declined to comment and asked not to be identified in this story.

The movement’s collective rollout, which will take place in early June, removes the individual pressure from the leaders who sign on as well as one of the primary deterrents to political activism: backlash from potential clients, customers and partners.

Rechler experienced this first hand while recruiting property owners to participate in a memorial showcase to honor victims of last October’s mass shooting in Las Vegas.

Working with the advocacy group Everytown for Gun Safety, Rechler reached out to owners of high-profile buildings across the country to see if they’d join him in lighting up buildings in orange. For his part, he illuminated the Helmsley Building for 58 nights — one for each person killed during the shooting.

“I got some tough pushback from people who were strong second amendment supporters, who felt that when I was soliciting them that I shouldn’t be,” he said. “And then I had some companies that believed in it or wanted to support it but were afraid to take that kind of stand or were shut down by a higher authority.”

Massey, who shifted from the private sector into the public’s eye when he sought the Republican nomination in last year’s mayoral election, said he hopes more business leaders will move to the political front lines.

“The current climate really shows us that we have to be thinking of political leaders in a new way,” Massey said. “We need to consider who they are, what they stand for and what their experience is. It should be an active conversation.

“I see him exhibiting leadership on this and I’ve been impressed by that,” he added. “It’s still early stages, but I expect it to gain momentum fairly quickly.”

The Real Estate Board of New York, the industry’s leading advocacy group, has not taken a formal stance ON the ongoing federal debate over gun ownership, which touches on, among other things, stricter background checks, a higher age limit for gun ownership and a potential ban on high-capacity rifles.

However, REBNY President John Banks did come out against the Concealed Carry Reciprocity Act last year, which would have allowed permitted citizens to carry weapons in New York City. At the time, he said, “the best self-defense of all is to keep guns out of New York City.”

Earlier this month, Rechler hosted an event along with Everytown for Gun Safety, Mom’s Demand Action for Gun Sense in America and the Drum Major Institute, an organization founded in part by Martin Luther King, Jr. The event, held on the 50th anniversary of King’s assassination, focused on the dangers of gun violence and featured a mother whose son was killed in the Parkland shooting.

Rechler said he felt compelled to join the push for gun law reform after the Sandy Hook Elementary School shooting of 2012.

“For me, it was really after Sandy Hook, watching 20 six-year-olds get brutally murdered and thinking that, oaky, now we’re finally going to do something to address this madness,” he said.

“But even then, with a president willing to use the full power of his office and a vice president tasked to do everything he could to get Congress to act, still nothing got done. That’s when I felt I had to get involved.”

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LEASES: Art consultants leases space in Midtown; Fashion tech startup finds 7th Ave home

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NEW YORK

HSP Real Estate Group, a member of NAI Global, announced that Howard Epstein, Director/Leasing, arranged a lease at 16 West 36th Street for Indiewalls, Inc., an international consulting firm that curates art collections for developers, hotels, restaurants and more. The 2,526 s/f office is located between Fifth and Sixth Avenues. The new tenant is relocating from 335 Madison Avenue. Epstein represented the landlord Kiamie Industries Inc. The tenant was represented by Lee & Associates. Asking rent for the five year-plus lease was $52 per square foot.

•••

Savitt Partners announced the following leases:
• Dropel Fabric, a fashion tech start-up, is joining other major technology, creative and fashion tenants at Space 530. Dropel was first introduced to Space 530 during the 2015 New York Fashion Tech Lab class, a fashion-tech accelerator program. The company transitioned into full time co-working membership after the program, and has since grown into full time office space taking 1,000 s/f for its New York Cty headquarters in Space 530.
• B2B procurement platform Negotiatus has inked a 4,139 s/f lease at 260 West 39th Street. The growing purchasing solution that allows businesses to link all their vendor accounts and order all supplies in one place, will relocate its New York City headquarters to part of the 15th floor of the tower owned operated by MJ Orbach Associates. The asking rent was $48 psf. Previously occupying 850 s/f at 122 West 26th Street, Negotiatus was repped by Elliot Zelinger and Patrick Finn acted on behalf of Negotiatus. MJ Orbach Associates was represented in house by Michael Orbach.

•••

Lee & Associates NYC announced the following leases:
• Dennis Someck, Justin Myers and Conor Krup arranged a 4,500 s/f lease for the entire eighth floor at 15 West 26th Street for Velem. The full-service post production studio is a division of Milk Group that specializes in print, digital and film. Someck represented the tenant in the seven-year lease. The landlord, Mesa Realty Associates, was represented by Peter Liptrot of Bernstein Real Estate. The asking rent was $60 psf.
• Dennis Someck, Justin Myers and Conor Krup arranged a 7,176 s/f lease for the entire 28th floor at 30 Broad Street for JSM Music. The commercial music production company has produced numerous Super Bowl commercials and has collaborated with brands such as Budweiser and Microsoft. Someck represented the tenant in the ten-year lease. The landlord, Tribeca Associates, was represented by Andrew Peretz, Hal Stein, David Malawer and Daniel Appel of Newmark Knight Frank. Asking rent was $63 psf.

•••

T. Weiss Realty Corp. announced that four new tenants took occupancy at its Melville Corporate Center I during the first quarter of 2018 and that it has signed lease renewals, effective in 2018, for more than 18,000 s/f in its various Melville office buildings during the same period. New tenants at Melville Corporate Center I, 105 Maxess Rd., collectively occupied 9,105 s/f. The transactions included:
• Hartford Fire Insurance Co., which leased 3,148 square feet in a deal brokered by Richard Freel of CBRE. T. Weiss President Craig Weiss represented the landlord in-house.
• Hollander Legal Group, P.C., a law firm focused on insurance and criminal defense matters, which leased 2,594 s/f in a direct transaction negotiated for the landlord by Weiss.
• Homebridge Financial Services, Inc., a home mortgage lender, which signed on for 1,775 s/f in a transaction brokered by Roger Wooster of Cushman & Wakefield of Long Island and the landlord’s Craig Weiss.
• Medicare One LLC, a medicare insurance brokerage that formerly was a tenant in T. Weiss’ Totus Business Center, leased 1,588 s/f in a direct deal.
T. Weiss also reported four lease renewals at its various office properties in Melville, including:
• ERM Consulting & Engineering, Inc., an environmental consulting firm, which re-signed for 5,330 s/f at 105 Maxess Road in a transaction brokered by John Nielsen of JLL and Craig Weiss.
• The Law Office of Peter D. Baron, PLLC , which re-signed for 2,510 square feet at 532 Broadhollow Rd. in a transaction brokered by Marc Berkowitz of The Rochlin Organization and Craig Weiss.
• Jones Lang LaSalle Americas, Inc. the commercial real estate brokerage, which re-signed for 5,198 s/f at 324 South Service Rd. and was represented by Ray Ruiz of JLL. Craig Weiss represented the landlord.

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Life science law firm leases 36,000 s/f at 902 Broadway

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CBRE announced that Fenwick & West, a technology and life sciences law firm, has signed a long-term lease for 36,400 s/f at 902 Broadway in the Flatiron district.

CBRE’s David Kleinhandler, Clay Hammerstein and Ken Rapp represented Fenwick.

The firm will occupy two floors in the building, more than doubling the size of its current midtown office.

“We are thriving in New York,” said Fenwick chair Richard Dickson. “Our focus on serving the legal needs of technology and life sciences companies, many of which are concentrated in the Flatiron district, makes it an ideal location.”

“Fenwick & West is the first Am Law 100 firm to move to Midtown South in over a decade, recognizing the area as the hub for technology companies and talent, and the nucleus of this growing community of innovation,” said Rapp, vice chairman in CBRE’s NYC office.

“We were happy to assist the partners in finding the perfect location and bringing them closer to the companies they serve. 902 Broadway was a natural choice for their expanding practice.”

One of the world’s top law firms, focused on technology and life sciences, Fenwick has been named Technology Law Firm of the Year by Law360 for five consecutive years.

Fenwick’s New York office opened in 2016 to address growing client demand from the area’s technology, life sciences and investment communities.

“A move to 902 Broadway places Fenwick at the heart of the tech community and in the center of major industries working with emerging technologies,” said Max P. Koeppel, who handled the transaction on behalf of Koeppel Rosen LLC, the leasing and managing agent for the Rosen family-owned property and its Midtown South portfolio.

“We welcome Fenwick and are excited to work with the team as it builds out its space.”

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