News
PAINTING THE TOWN
June 16, 2011
| Our readers sure know how to wear us out. Yesterday, we attended three mega events, where the stars were out to celebrate industry cohorts and worthy charitable causes. |
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Michael Priest Photography |
| We joined more than 500 real estate execs at Cipriani 42nd Street for the UJA-Federation of New York Real Estate & Allied Trades Division’s annual luncheon, which honored The Gotham Org chairman Joel Picket and prez David Picket with its Jack D. Weiler Award, which recognizes members of the real estate community who demonstrate outstanding professional achievement and intense commitment to Jewish philanthropy. Above, Silverstein Properties CEO Larry Silverstein (center) presents David and Joel with their awards. Larry, who worked with Gotham on the two 60-story, 1,359-unit Silver Towers, says that their integrity is absolute—and they helped Silver Towers deliver below budget and ahead of schedule. |
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| Among the supporters: Jack Resnick & Sons chairman Burt Resnick, Glenwood Management chairman Leonard Litwin, and Tishman Construction chairman Dan Tishman. This year, professionals from the real estate, construction, and allied trades industries collectively raised more than $16M (you read that correctly) for the UJA-Federation’s annual campaign that sustains a network of more than 100 health, human service, educational, and community-building agencies that support more than 4.5 million people annually, working to combat poverty, help the elderly, promote Jewish identity and renewal, strengthen children and families, and assist those with disabilities and special needs. The event also included a keynote by Ido Aharoni, Consul General of Israel in New York. |
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| BLDG Management Co principal Dorian Goldman, SVP Donald Olenick, and president Lloyd Goldman with Georgia Malone & Co prez Georgia Malone. Lloyd, UJA-Federation’s real estate division chair, echoed Larry’s sentiments, saying he first met the Pickets two decades ago: “If you could work with them, they’re first-class people.” Yesterday, it was announced that BLDG and Tavros Capital purchased contiguous mixed-used buildings—448-452 Broome St in SoHo—from Spanish bank Caixanova for $17M. They were originally acquired in ’06 for $23M as a potential condo conversion, became troubled assets, and the bank reclaimed them in foreclosure three years later. Eastern Consolidated’s Brian Ezratty, David Schechtman, Azita Aghravi, and Marion Jones brokered the deal. |
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| And CBRE CEO of the Tri-State Region Mary Ann Tighe makes history again—last night, she received the NYU Schack Institute of Real Estate’s Urban Leadership Award, created in 1971 to honor and recognize a professional leader who has contributed significantly to the growth and prestige of the real estate industry. Mary Ann, whom we snapped with Schack divisional dean Jim Stuckey, is the first woman to be honored in the history of the award, joining luminaries like Vornado CEO Mike Fascitelli, Forest City Ratner chairman Bruce Ratner, Rudin Management CEO Bill Rudin, and Related chairman Steve Ross. What a past month for Mary Ann—she also repped Condé Nast Publications in its historic 1M SF, 25-year lease at One World Trade Center with CBRE’s Gregory Tosko and Ramneek Rikhy. |
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| Among the supporters at the star-studded gala at the Waldorf-Astoria: NYU professors Carl Weisbrod and Barry Hersh flank Cushman & Wakefield retail director Alexandra Akira and Port Authority executive director Chris Ward. On Tuesday, the Port Authority approved a restructured lease with Port Newark Container Terminal; it calls for a 20-year extension of the existing lease (through 2050) in order to expand the terminal through a $500M private capital investment and secure a long-term strategic commitment with the Mediterranean Shipping Co, the world’s second-largest shipping company. This will dramatically increase cargo volumes at the port, from 414,000 containers today to 1.1M by 2030. (Most important benefit: twice as many TV shows can have dramatic chase scenes that come to a head at a port.) The lease will expand the terminal’s facility by more than 100 acres to 287 acres. |
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| This may very well be the last photo you see of Mitch Rudin as CBRE president and CEO of the Tri-State Region. (He's standing right, with Capital One NYC CRE market manager Benjamin Stacks and Himmel+Meringoff Properties managing partner Leslie Wohlman Himmel.) He’ll soon become the prez and CEO of US commercial operations for Brookfield Office Properties after more than 20 years at CBRE and its predecessor companies. Leslie tells us that leasing has been off the charts: “I’ve never been busier. It's wonderful being in an environment where deals are happening again.” She couldn’t give us any details yet, so we wait with bated breath. |
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| Afterward, we headed back to Cipriani, where more than 600 real estate and finance execs gathered for the annual Casino Jazz Night to benefit Big Brothers Big Sisters of New York City (the oldest and largest youth mentoring organization in the US). This year, the event honored Cantor Fitzgerald chairman Howard Lutnick, whom we snapped with Newmark Knight Frank chairman Jeff Gural and special guest CNN's Piers Morgan. A portion of this year’s proceeds will benefit the Cantor Relief Fund, which provides financial, emotional, and physical support for the families of victims in the World Trade Center disaster. BBBS of NYC exec director Hector Batista pointed out that Cantor Fitzgerald has so far given $180M in support to employees’ families—including 25% of its profits for the first five years, and healthcare coverage for a decade. |
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| Attendees took their chances with craps, blackjack, poker, roulette, and other casino games, while others took the chance to catch up with industry compatriots. Among those we snapped: Brickman EVP Tony Fineman, The Moinian Group CEO Joe Moinian, and Alliance Building Services prez Michael Rodriguez (who all received the memo to wear pinstripes). To date, Casino Jazz Night has raised nearly $1M for BBBS of NYC, and every $2,000 raised provides a Big-Little mentoring match with the financial support it needs for one year. |
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| We'll be honest: We didn't know if Cushman & Wakefield economic guru Ken McCarthy could converse without a podium, Powerpoint, or phone on a conference call. But he certainly can, and did, here with vice chairmen Tara Stacom and Josh Kuriloff. Tara and colleague Alan Stein were on the other side of the Condé Nast deal at One World Trade Center, as the exclusive agent for the Port Authority and The Durst Org. They’re spearheading the leasing for the $3.1B,3M SF tower, which is scheduled for a 2013 completion. With the closing of the Condé Nast deal, more than one-third of the building has now been rented more than three years before the first tenant assumes occupancy. It was also the second major corporate tenant to lease the space after China Center New York, a division of Vantone Industrial, inked a 191k SF lease in March ’09. |
