LUTNICK'S RISE FROM CATASTROPHE
| Cantor Fitzgerald and BGC Partners chairman and CEO Howard Lutnick is no stranger to tragedy, losing 658 colleagues on 9/11 (his life was spared as he took his child to school that morning). But you can rebuild from loss, which he highlighted in a keynote at NYU Schack's annual capital markets conference yesterday. |
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| It's certainly timely, with Sandy fresh on everyone's mind. Howard, here with NYU Schack divisional dean Rosemary Scanlon and Newmark Grubb Knight Frank prez Jimmy Kuhn, said that after 9/11, only 302 were left at his company, with some divisions nearly wiped out. But with determination, the company has grown to 3,000 in NY, rebuilt the equities and fixed-income dealer businesses, launched BGC Partners (which acquired Newmark Knight Frank and Grubb & Ellis) and Cantor Commercial Real Estate, brought electronic trading to Vegas, entered mobile gaming, and owns Delivery.com, EL Media, and Ritani. His rules: only work with people you like and make sure employees have equity in the company. |
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| Juana Cullen |
| There are events in our life that define us, Jimmy noted. “We don’t choose them, they choose us.” The past week has seen unity,compassion, and conviction, and the CRE and financial communities have taken the reins. (Cantor Fitzgerald and BGC Partners, for one, are providing direct assistance to their employees who suffered severe losses, and the Cantor Fitzgerald Relief Fund is accepting donations on its website, which the company will match.) Above is a damaged church on Mill Road in Staten Island. |
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| Andre Samuel |
| The first thing REBNY did was work with members to assess building conditions and see who had resources, like pumps, to help others, president Steve Spinola tells us. (Above is damage on Old Slip). It also worked with the Dept. of Buildings to facilitate building reopenings and continues to work with the City on how to help the estimated 20,000 to 30,000 newly homeless people. Long-term, REBNY is studying which buildings did well in the storm and why, releasing recommendations based on its findings in six months. Meanwhile, it's encouraging members to support the Mayor’s fundand many have already made substantial donations, he says. It’s also beginning to connect New York Cares with building management and owner members to collect coats and other cold-weather items in lobbies. W&H Properties is participating with its nine buildings, while Malkin Holdings is involved in the housing initiatives. Here are more ways firms are helping: |
| Ariel Property Advisors and Brooklyn Chamber of Commerce are hosting an event tonight called the Red Nite for Hurricane Relief at the Prospect (823 Classon Ave, Brooklyn) from 5:30-7:30pm. Ariel Property Advisors will match $5,000 in contributions received on-site at the event. (More info.)***Argo Real Estate is waiving brokerage fees for victims that have been displaced in the company’s Queens rental properties for the next 30 days, as well as placing donation boxes in its managed buildings so people can donate food and clothing. *** Coldwell Banker Commercial alliance principal Peter Sabesan worked with several of his clothing industry clients, who put together cartons of clothing for Jericho, Long Island’s fire department. The FD is seeking clothing (particularly baby), toiletries, and other items. *** CBRE initiated a US fundraising campaign to benefit the victims of Sandy, run through the CBRE Disaster Relief Foundation. Funds will be donated to the American Red Cross and CBRE Shelter Program partners Rebuilding Together, Habitat for Humanity, and Home Aid, as well as CBRE colleagues who have suffered catastrophic loss. (Donate.) *** Denihan Hospitality Group launched an internal fund to provide aid for the company’s associates that were affected, and employees can donate through a one-time payroll deduction or donate a portion of accrued paid-time-off balance, which Denihan will match 100%. Denihan volunteers are also assisting the company’s partner, Good Shepherd Services, at a relief center in a local Red Hook high school. At its hotels, it’s inviting guests to donate money by adding to their folio at check-out, which the company will also match 100%, and proceeds will go to the American Red Cross. (As the situation evolves and needs change, the charity may change.) *** Forest City Ratner, Barclay’s Center, and the Nets have each kicked in $100k to the Brooklyn Recovery Fund (seeded with $100k from the Brooklyn Community Foundation), which supports local and community-based organizations in Brooklyn that allocated their resources to the first response. More than $500k has been raised for the fund so far to respond to the immediate, mid-, and long-term impacts of Sandy. BCF will be working closely with founding partners Marty Markowitz and the Brooklyn Chamber of Commerce to grow this amount through increased contributions from the philanthropic and business communities, as well as the general public. (Donate.) *** MNS created a task force of agent volunteers to research short-term rental properties to work with people affected by Sandy. One agent,Sasha Bruno, is displaced from the Financial District herself and reached out to others from her community in the same situation through a mom’s group, getting together a list of resources and properties and helping clients with no fee. The firm is also collecting undergarments for children and adults in the Rockaways. *** The Moinian Group is providing rent credits to all office, retail, and residential tenants who were displaced from Moinian Group-owned and managed properties; the owner has a large concentration of assets in Lower Manhattan, which was deeply affected by the storm. *** Prudential Douglas Elliman organized helicopters, trucks, and volunteers to go from designated donation centers to deliver aide to people in Breezy Point, Rockaway, Long Beach, and Staten Island. All offices that had power remained opened for community relief, donations, and providing local residents with power, charging stations, and warmth. The rental division has also been assisting many placement companies and insurance adjusters in finding short- and long-term housing for those whose homes have been damaged or destroyed. The firm is using its extensive social media and online resources, as well as CEO Dottie Herman’s radio show on WOR, to rally and gather volunteers and distribute info. *** Prudential Douglas Elliman’s Faith Hope Consolo and Joseph Aquino are supporting St. Francis Food Pantries and Shelters, which has increased food shipments to the pantries most affected by the storm, delivering hundreds of coats and cases of clothing to pantries and shelters, and sending bedding, towels, and household items to those who lost possessions. (Donate.) *** REM Residential is contributing school supplies to Project Backpack, which will aid Staten Island school children, and rounding up construction and cleaning supplies, blankets, flashlights, clothing, food and water, sanitary items, baby food and items, and pet supplies. Email nila@remny.com. *** SL Green has set aside $500,000 in contributions for different relief efforts, which are still being determined. It also offered two vacant retail spaces to the New York Blood Center for consideration. |
