News
HOT FOR HUDSON SQUARE
September 15, 2011
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| September's here—and that means events are in full swing again. We joined YM/WREA Tuesday to hear Trinity Real Estate prez Jason Pizer, whose firm is just fresh off of Two Sigma Investments' 76k SF expansion at 100 Avenue of the Americas. Great news from Hudson Square: Trinity's portfolio is 97% leased, reflecting the overall desire of Midtown South. He's seeing a slew of creative tenants signing there. But retail and residential are still lacking; Trinity's still working with the City on a rezoning that could bring 3,500 new housing units. (Fun fact: Trinity is over 300 years old, when Queen Anne gave Trinity 215 acres—15 of which it still owns.) |
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| Most of Trinity's tenants are partnerships and mom-and-pops, Jason says. So leasing has mostly been organic growth, and he reports these tenants spending more money, increasing headcount, and expanding their spaces. “We rarely get phone calls about reworking leases,†he says. “And we're not seeing the fear and paranoia of 2008.†These aren't short-term leases either—most are being signed for 10 years. With him are YM/WREA's board (clockwise): The Durst Org's Brandl Frey, Tudor Realty Services'Andrew Lazarus, Transwestern's Lindsay Ornstein, JLL's Glenn Tolchin, UGL Services' John Pavone, Rudder Property Group's Michael Rudder, Newmark Knight Frank's Stephen Gordon, and Cushman & Wakefield's David Berke. |
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| Rob Klein |
| Here's a shot of YM/WREA members at its annual summer outing(as you can guess by the sea of white, it was before Labor Day). Now comes the busy season: prez Brandl tells us in October, the association will be having its annual fall cocktail party as well as a lunch on the 11th keynoted by Savanna's Christopher Schlank(they'll also announce its annual scholarship contest winner and its newly inducted spring class). The month also brings participation in New York Cares Day (15th) and its annual Joanne Wittlin Memorial Mentoring Day (28th), which pairs members with students from Baruch College. |
