News
MOMENTUM EVERYWHERE
February 29, 2012
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| Speaking of Metro-North, we’ll make a stop in Danbury, Conn. Matrix Realty Group’s Steve Kirschner (right)—whom we snapped with Centerline Capital Group’s Chad Musgrove, Lilker Associates’ Robin Carathanasis, and Co-Communications’ James Melnichok at our New York Multifamily Summit two weeks ago—tells us the firm is seeing momentum at its 1.3M SF Matrix Corporate Center, inking leases for a dentistry group, chiropractic firm, and the Goddard School. Now it plans to add a five-star hotel to the campus, which he says the vibrant market needs. Additionally, Matrix is stabilizing the 4,000 apartment units and 1.2M SF of additional Class-A office space it owns. PR pro James says his firm has been developing new relationships in residential real estate, and the current uptick in movement is a great sign of what's to come. |
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| We also snapped the team from Ariel Property Advisors, one of our event sponsors. It’s riding the wave of recovery: Since the beginning of the year, the investment property sales firm closed on a four-building West 116th Street portfolio for $18.4M, a three-building package of notes in the Bronx, and six other investment properties. Upcoming: the close of nine development sites. It also has put into contract 62-64 East 34th Street, a 70-unit portfolio on 146th Street, is marketing nine performing/non-performing notes, and has already evaluated over 200 buildings for clients. Pictured: Gail Donovan,Michael Tortorici, president Shimon Shkury, Aryeh Orlofsky,Shani Hashaviah, Daniel Tropp, Jesse Deutch, and Ivan Petrovic. |
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| Among our schmoozers: IVI’s Bob Barone and Douglas Olson with Beech Street Capital’s Brian Sykes. Brian was in attendance along with colleague Mike Edelman, an SVP who oversees Beech Street’s Northeast production. Mike says that Beech Street is off to a robust start in 2012. It continues to work closely with Meridian Capital Group (particularly in NY) and has already rate-locked or closed over $240M with Meridian so far this year. A couple of notable recent closings: a $32M Freddie Mac loan for Raritan Crossing in New Brunswick, NJ, and a $32M Fannie Mae loan for the Mango at 301 E 38th St. |
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| Missed our last event? Join Bisnow for our second annual New York Hotel Summit on March 22 at The Marriott Marquis (above is last year's crowd), featuring illustrious speakers like Tribeca Associates partner Mark Gordon, The Chartres Lodging Group co-founder Maki Nakamura Bara, Ackman-Ziff managing director Mark Owens, RLJ Lodging Trust VP Jeffrey Dauray, Square Mile Capital principal Nolan Hecht, Troutman Sanders partner Sonia Kaur Bain, and Arent Fox partner Kimberly Wachen. Don’t miss this popular event:sign up here for early-bird rates! |
