FA Capital Management, a management services firm, has inked a sublease deal at 601 Lexington Avenue for 15,932 square feet, brokers at CB Richard Ellis said. With plans to move this summer from its offices at 1350 Avenue of the Americas, the firm will triple its office space from its current size of 5,000 square... MORE >
As the head of the accounting firm Rosen Seymour Shapss Martin & Company's Real Estate Service Group, Neil Sonenberg, 52, left in the illustration, has crunched numbers for a real estate industry in transition. He and Martin Greenberg, 53, a managing partner, talked about how landlords best weathered the recession and what they can do in terms of incentives to capitalize on the... MORE >
Of the four responsibilities handed to Guy Langford, a partner at Deloitte & Touche LLP, none has drained quite as much time over the past years as his work with distressed assets and debt. That's not much of a surprise, really, considering the state of the economy and the number of real estate owners struggling with overleveraged assets, and, on the other side, the real estate private-equity funds taking advantage of market... MORE >
Last month, the 100-year-old College Art Association signed a new 9,785-square-foot lease at 50 Broadway, thus relinquishing space it had held at 275 Seventh Avenue for 25 years. Cushman & Wakefield senior director Carri Lyon spoke to The Commercial Observer about the reasons behind the nonprofit's relocation and the allure of Lower Manhattan, which seems to be drawing tenants from all corners of the city as of... MORE >
It was at the depths of the economic downturn that mega-developer Larry Silverstein first sought to raise capital for the construction of three towers at the World Trade Center site by securing $1.3 billion in bonds from the Port Authority of New York and New Jersey, the site's landlord. To navigate such a complicated and tangled financial maze, Port Authority chiefs called on Michael Rotchford, an accomplished executive vice president with Cushman & Wakefield who... MORE >
For more than two decades, Howard Michaels, chairman of the Carlton Group, has overseen some of the more complicated and big-picture financing deals in recent memory. Earlier this month, in fact, the Carlton Group managed to pull 1180 Sixth Avenue from the brink of foreclosure by wrangling $245 million in new financing. Mr. Michaels, 55, spoke last week about new trends surfacing in the financing market. The Commercial Observer: Several years ago you were interviewed... MORE >
A landmarked, 124-year-old building at the center of the Upper West Side's high-end shopping stretch has gone on the block for $13.5 million, according to brokers. Besides being historic, however, the mixed-use building at 241-247 Columbus Avenue, at 71st Street, is already home to more than 100 feet of retail frontage, including space filled by Paige Premium Denim, Harry's Burritos and Clarins, the cosmetics... MORE >
Israeli soldiers—as well as those who aspire to lift weights like them—will be able to sweat in peaceful harmony now that Israeli Krav Maga, the official self-defense training program of the Israeli Defense Forces, has signed a lease in New York. Set to open by early this summer, the 2,600-square-foot gym will unfold at 919 Second Avenue, on the lower level of the newly built luxury condo The... MORE >
Wednesday, March 16 Real Estate Board of New York, "Commercial Crossfire," Mendik Education Center, 570 Lexington Avenue, 5:30 p.m., visit www.rebny.com for more info Association of Legal Administrators, "Community Services Annual Charity Auction," The Kitano Hotel, 66 Park Avenue, 6 p.m., email info@alanyc.org for more... MORE >
Already among Manhattan's top tenants, in terms of space, Lazard, the financial advisory and asset management firm, has renewed its lease at Rockefeller Center, taking an additional 60,000 square feet. The 21-year renewal lease with Tishman Speyer for office space at 30 Rockefeller Plaza will bring the firm's total square footage to a whopping 430,000 square... MORE >
Azita Aghravi finalized the sale of a West Village walk-up last Thursday. At 18,500 square feet, the residential building on Bank Street was neither the largest she has sold in her 22-year career, nor the most... MORE >
Before SL Green bought it in 2006, the REIT formerly known as Reckson Associates had a strong presence in the city. After that sale, however, the company, now known as RXR Realty, pulled back from Manhattan and, instead, focused on New Jersey, Westchester and Long Island. But as executive vice president and managing director Bill Elder, 45, tells the story, the group has bounced back to Manhattan in a major... MORE >
While foreclosures over the course of the past three years have been more prevalent outside of Manhattan, in areas as far away as Las Vegas and as close as Queens, two pre-war buildings near the Upper West Side seem to be bucking the borough's perception as a failsafe place amidst a troubled economy. To wit, a pair of five-story walk-up buildings at 132 and 134 West 109th Street will be going on the block... MORE >
In 2002, Susan Kurland, the subject of this week's Power Broker profile, won the coveted "Most Creative Retail Deal of the Year" award from the Real Estate Board of New York. Ms. Kurland, an executive vice president at CB Richard Ellis, spoke to The Observer about the craziness behind her deal on behalf of American Girl and its New York flagship store at 609 Fifth... MORE >
While some were predicting the death of commercial mortgage-backed securities as early as 2008, at least one conduit loan has recently turned up in hell, of all places-or, at least Hell's Kitchen. The Meridian Capital Group, the commercial real estate finance and advisory firm, successfully negotiated a $6.55 million conduit loan on behalf of the owner of a 10,800-square-foot retail condo in the heart of the Hell's... MORE >
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