Developers JVL Property Group, Okada Acquisitions and West Coast developer Zion Enterprises showcased 432 W 52, Hell’s Kitchen’s latest 55-unit luxury condominium. Hosted on the property’s rooftop terrace, the preview offered the brokerage community a first look at the development – including eight model residences – as well as an opportunity to meet the development team. Themed as ‘A Taste of Hell’s Kitchen,’ guests indulged in a range of small plates and cocktails from notable local eateries including Southern Hospitality, Amy’s Bread, Noodies Thai Kitchen, Gotham West’s Genuine Roadside, Casellula and Empanada Mama. Exclusively represented by Stribling Marketing Associates, pricing at 432 W 52 ranges from $600,000 for a studio and goes up to $2.395 million for a duplex garden home.
Developers show off 432 W52
NYU Schack Evening of Monopoly
Top real estate industry executives gathered to play Monopoly with current and former students at the NYU School of Professional Studies Schack Institute of Real Estate’s “Evening of Monopoly®” on Thursday, October 16, 2014 at ANDAZ Fifth Avenue. The charity event, hosted by the Alumni Association, honored two outstanding alumni: Carl de Stefanis (’94), chief executive officer of IVI International, Inc. (IVI), and Mark de Stefanis (’01), president of Construction Cost Recovery, Inc. (CCR). Proceeds raised at the school’s largest and most successful alumni fundraising effort of the year will be used exclusively to support scholarships, career development programs, panel discussions, global initiatives, new academic programs, and networking events.
Heavy hitters turn out for RFR unveiling
Stonehenge hosts broker appreciation party
Stonehenge Partners – a fully-integrated owner, operator and developer of premier residential and commercial real estate in New York City – recently welcomed more than 100 brokers to its annual broker appreciation party at L’Express, located at 249 Park Avenue South, the retail space of Stonehenge’s 8 Gramercy.
At the event, Allen Wu, a broker with Fenwick Keats Real Estate, was presented with a $10,000 reward for winning Stonehenge’s Summer Broker Challenge, which was held fromJuly 21 to September 21 and awarded the broker with the most signed leases across the Stonehenge portfolio.
The event drew a lively crowd of brokers who enjoyed music by renowned DJ Miss Sabado and entertainment by Lady Alchemy, along with an open bar. Stonehenge raffled off three prizes – a $200 gift card to El Toro Blanco, located at 10 Downing St.; 10 free classes at BFX Studio, located at 555 Sixth Ave., valued at $300; and three free in-home massages from Refresh Body, valued at $350.
“Stonehenge would not be the success it is without the amazing brokers we work with day in and day out, who bring clients to our properties across the city,” said Jason Gohari, Director of Leasing at Stonehenge Partners. “This annual event is our way of saying thank you for all the hard work they do.” [[Show as slideshow]]
Real estate executives turn out for Liar’s Ball launch
A launch party for the new Vicky Ward real estate book, The Liar’s Ball, held at the home of magazine editor Tina Brown, drew several prominent real estate executives. The book chronicles the history of the GM Building and its suitors, including Harry Macklowe and Donald Trump. Real Estate Weekly is giving away free copies of the book with new subscriptions to the industry’s oldest commercial real estate title.
Photos by Patrick McMullan
PHOTO GALLERY: REBNY Residential Deal of the Year Awards
REBNY recently hosted its 26th Annual Residential Deal of the Year Charity and Awards Gala at The Metropolitan Pavilion, where seven of New York City’s leading residential brokers were honored for their exceptional deal-making skills.
The event is the biggest of the year for REBNY’s residential brokerage division. Proceeds raised at the festive celebration benefit REBNY’s “Member in Need Fund,” which provides grants to members who are in financial need because of an unexpected illness, family crisis, or hardship.
“The brokers honored at The Residential Deal of the Year Awards demonstrate remarkable intellect, deal-making savvy, and the utmost professionalism in their interactions with their clients, colleagues, and industry peers,” said Steven Spinola, REBNY President. “Their accomplishments uphold the industry’s high standard of excellence and add to the vivacity of the residential market in New York City.”
The winners of REBNY’s 2014 Residential Deal of the Year Awards were:
Reba Miller of RP Miller Realty Group Inc., who took home The Henry Forster Award for lifetime achievement. The Henry Forster Award goes to an individual who has a long-standing reputation for excellence in residential real estate. The award winner is a top-producing agent and also displays outstanding ethical conduct in the profession and contributes to cultural, charitable and community organizations outside and within the industry.
Miller has sold over $1 billion over her 29-year career in real estate, building a niche on the Upper East Side, Upper West Side, and along the Gold Coast corridors of Park, Madison, and Fifth Avenues. She is recognized for her extensive experience handling a variety of real estate transactions on both the buying and on the selling sides for residential and commercial assets. Over the course of her career, Miller has achieved record-breaking sales including deals at 15 CPW for $4,000 per-square-foot and at The Plaza for $5,000 per-square-foot. She is also credited with leading sales and leasing at many converted condominium buildings and representing properties at buildings including Morgan Court, Olympic Tower, Trump Tower, The Chatham, The Empire, 502 Park Avenue, and The Europa.
Among her many other accolades, Miller previously received REBNY’s third place Deal of the Year Award in the residential sales category for her work on a complex deal at 188 East 78th Street, which resulted in six commissions paid at the closing. Mill serves as the Co-Chairman for REBNY’s Board of Directors and Ethics Committee, where she has served for the past three years. She also volunteers her time teaching and participating in seminars, and has instructed a New York Residential Specialist® advanced graduate designation course at REBNY for two semesters.
The Rookie Salesperson of the Year Award was presented to Antony Bitar of AC Lawrence Real Estate LLC for his impressive entry into New York City’s residential real estate market.
Bitar is recognized by colleagues for his extensive expertise and ability to “strike just the right chord with his customers.” The former singer/songwriter is known for his ability to immediately connect with and create an enjoyable experience for his customers, which has resulted in “high note” sales throughout Manhattan.
Other winners included Sharon Burroughs of Douglas Elliman Real Estate, who took first prize in theresidential sales category.
Shelley Lindauer of Keller Williams NYC took second prize, while Timothy Melzer of The Corcoran Group took third.
Common Ground Home & Community Gala
Common Ground, NY’s largest supportive housing developer and a nationally recognized leader in efforts to end homelessness, hosted its annual Celebrating Home & Community Gala at the Frederick P. Rose Hall of Jazz at Lincoln Center. The event raised $1.36 million for the organization — its biggest gala yet. Common Ground honored Alexander Gorlin and Marian Zucker at the event: Alexander Gorlin is a noted architect, urban planner, design critic and author. His internationally recognized firm Alexander Gorlin Architects specializes in a wide range of design programs that span the economic and cultural spectrum including religious institutions, schools, high-end residential, affordable, and supportive housing for the homeless (including two Common Ground buildings in the Bronx), as well as master planning. Marian Zucker is the President of the Office of Finance and Development for NYS Homes and Community Renewal, whose work has been recognized by Habitat for Humanity who named her Innovator of the Year Award in 2010, The Bond Buyer for 2010 Northeast Deal of the Year Award and NYSAFAH Award for Excellence Advocate of the Year Award in 2013.
Solow, Citi Habitats open Two Sutton Place North
Solow Building Company and Citi Habitats New Developments held a cocktail reception to celebrate the official opening of luxury rental tower, Two Sutton Place North. The brand new property is Solow Building Company’s first new residential development since its sister building (One Sutton Place North) was launched in 2003. Designed by Costas Kondylis & Partners, Two Sutton Place North continues the Solow tradition of sleek, minimalist design coupled with lavish finishes and amenities. “We are pleased to launch our latest tower, Two Sutton Place North, which was built to reflect the way today’s New Yorkers live. We aim to provide residents with an unrivaled lifestyle of elegance, comfort and convenience – and we look forward to welcoming them to their new home,” said Sheldon Solow. “Solow Building Company’s niche has always been luxury rental properties and we are proud of this latest development, though we may consider opportunities to construct condominiums in the future.”
Crowds turn out for NY Festival of Lights
Photos by Nicolas Lemery Nantel
For three nights – November 6 – 8, The New York Festival of Light (NYFOL), illuminated DUMBO, Brooklyn, with a curated collection of lighting installations from renowned artists working in the medium of light from all over the world and right here in New York City. The festival, which was open to the public, was programmed to appeal to people of all ages.
The lighting installations interacted with and animated the historic infrastructure of the Anchorage of the Manhattan Bridge and Plaza Tringle area. Several installations including – artist collective 3_Search’s Initiations, a projection mapping series on the façade of the Anchorage, concert lighting designer Howard Ungerleider’s Lazeration a laser light show produced for its tunnel, and “lighting magician” Tupac Martir’s Sounds of Nature, a multi-sensory umbrellas on the plaza – were site-specific.
Crowd pleasers included Mirror Man, who manipulated 5,000 beams of light with his glass covered body, neo-soprano Nicole Renaud accompanied by her illuminated accordion, Eyeronman wearable technology for the visually impaired, custom clothes imbedded with LEDs designed by students from LIM college, and Scratch Box, a lighting “sounding board,” where people were able to inscribe their thoughts in light.
Held in partnership with the DUMBO Improvement District, attendance at the first annual New York Festival of Light was unexpected and unprecedented, yet underscored the NYFOL’s belief that the public would welcome, appreciate, and be delighted by the wonders of light.
NYC Real Estate Expo Gallery
Brokers view 515 E72 penthouse
Photos by Richard Lewin
Executives from across the brokerage community turned out to celebrate the release of The Penthouse at 515 East 72, a full-floor, 5,419-square-foot home with floor-to-ceiling windows, two terraces totaling 3,461 square feet, and 360-degree views of the city including the Empire State Building, Chrysler Building and East River. The listing is available for $18.5 million through Corcoran Sunshine Marketing Group, the exclusive sales and marketing agent for the property.
Sales launch at Sorgente Group’s 60 White
Photos by Patrick McMullan
Sales launched at 60 White in Tribeca, the latest project developed and designed by Veronica Mainetti, president of Sorgente Group of America. Hosted by Frances Katzen, Douglas Elliman, and Veronica Mainetti, the exclusive launch event showcased the space and hand-crafted, locally-sourced elements of this Tribeca landmark. Notable attendees included Toni Haber, Luis Ortiz, Raphael De Niro, Darren Sukenik, Howard Lorber, Dorothy Herman, Susan de Franca, Ken Haber, and Stephen Kotler. Prices of the eight lofts are slated to start at $4.6 million, according to published reports.
Joan’s Legacy gala raises $1.4 million
Joan’s Legacy: Uniting Against Lung Cancer (UALC) marked its 12th year of funding innovative lung cancer research by raising more than $1.4 million at its signature gala event, the “Strolling Supper with Blues and News.” On Wednesday, November 12, 750 guests gathered at Gotham Hall in Manhattan to support the efforts of the partners and doctors who have tirelessly raised awareness and pursued a cure for the nation’s deadliest cancer. The Strolling Supper is the largest event marking Lung Cancer Awareness month in New York, highlighting the need for research, funding, and awareness to combat the nation’s number one cancer killer.
Historic Manhattan West platform is finished
Brookfield's Manhattan West platform and "The Launcher" are viewed from 450 West 33rd Street, Tuesday, Nov. 18, 2014, in New York, as Brookfield celebrates the completion of the first phase of the Manhattan West development. The platform, built over Penn Station rail road tracks, will create a new public plaza and a mixed use commercial development. (Photo by Diane Bondareff/Invision for Brookfield Properties/AP Images)
More than 200 union workers, along with Brookfield Global Office CEO Dennis Friedrich; Amtrak Deputy Chief Engineer Section Improvement Al Fazio; plus Amtrak, Long Island Railroad and New Jersey Transit workers, celebrated the historic completion of the platform built over the rail approach to Penn Station, creating the space that will be a new public plaza at Manhattan West, a mixed use commercial development.
The event took place on the concrete platform that spans the tracks, with the giant yellow gantry, “The Launcher” serving as a backdrop. This 2.1 million pound, horizontal gantry, custom-built for this project, was used to lift and place sixteen, 56,000-ton concrete bridge segments atop the exposed railroad tracks, building a solid platform for a public plaza.
“Our deck is done, and we have created new land on the West side of Manhattan that will allow our beautiful new neighborhood to take shape,” said Friedrich. “We salute the union laborers – the men and women – who have worked around the clock to make this dream a reality. We look forward to seeing our project now begin to rise to the sky.”
Manhattan West will include two new class-A office towers, a residential building, retail, a five-star hotel, rooftop gardens, restaurants and cafes. The site will be transected by a two-acre park.
“This project represents a major step in the re-development and growth of the West Side and ultimately will assist in the development of the new Gateway Tunnels and Moynihan Station,” said Amtrak Deputy Chief Engineer Section Improvement, Fazio. “This team is to be commended for their outstanding execution of the initial phase; the professionalism in planning and construction engineering led to flawless implementation.”
Brookfield’s Manhattan West, a $4.5-billion master-planned real estate project at Ninth Avenue and 33rd Street, will be a dramatic addition to the Midtown Manhattan skyline. The five-acre site, with seven million square feet of office and mixed-use development, provides a unique opportunity for a signature company headquarters in the most exciting growth area of Manhattan. One block west of Penn Station, Brookfield’s development sits at the gateway toManhattan’s new West Side. Offices, hotels, residences and transit upgrades are planned for surrounding blocks, including redevelopment of the adjacent Farley Post Office as the new Moynihan Station.
Riverside Abstract holiday party
Riverside Abstract, one of New York’s largest national title insurance agencies, hosted its annual holiday party on November 20. The gathering took place at the Chelsea loft, ArtBeam at 540 West 21st Street. Over 1,200 distinguished guests, including commercial and residential real estate professionals, enjoyed a buffet dinner, music, a fully stocked bar, chocolography, and professional cigar rolling. The event was a great success and led to a myriad of opportunities for clients and friends to meet and greet, and create meaningful and lasting relationships amongst owners/developers, attorneys, brokers and all professionals in the real estate industry. Shaul Greenwald Esq., CEO and Yoel Zagelbaum Esq., president of Riverside Abstract said the company expects to close over 5,000 transactions by year-end
Arianna Huffington on learning to be okay with silence
The New York City Chapter ofCoreNet Global (CoreNet NYC) hosted a special program featuring Arianna Huffington entitled, “Redefining Success: The Third Metric That Can Benefit Your Bottom Line” on at the W Union Square in New York City.
Huffington, the chair, president and editor-in-chief of the Huffington Post Media Group, engaged with CoreNet members and commercial real estate professionals in a discussion focused on health and wellness in a work climate where people are continually putting themselves at risk of over-working.
Huffington demonstrated how the workplace can have a significant influence on employee productivity and success. Using her own offices as an example, Huffington added that many professionals may still be hesitant of accepting innovative ideas: “Nap rooms in the city that never sleeps? In the middle of a news room? There was a lot of skepticism.”
Huffington cited her own collapse in 2007 as her wake-up call that led her to reflect on the true meaning of “success” and a “good life.”
She began to question conventional wisdom: “We’ve been defining success by two metrics: money and power. But that’s like trying to sit on a two-legged stool. We need that third leg.”
Huffington explained that the “third leg” is creating a sustainable and happy life and it begins with keeping stress under control: “75 percent of all healthcare costs and problems are attributed to stress in some direct fashion, while only 25 percent are beyond our control.”
She attributes a reliance on technology and unhealthy work habits as major contributors of stress: “We are actually taking better care of our smartphones than we are of ourselves…technology promotes burnout…and multitasking makes us less effective.”
The solution, Huffington suggests, is meditation: “Very effective people meditate 2 times a day for 20 minutes – if this is a challenge, start small with 5 minutes and see the impact to your well-being.”
Huffington advocated for being aware of one’s health so as to avoid exhaustion and impairing judgment. She recounted: “Every hiring mistake I made was when I was tired,” adding “leadership is noticing the icebergs before they hit the Titanic, and it is harder to do in a tired state.”
Huffington warned against using “busy as a badge of honor,” reminding the audience that it is okay to say “no” to work that you cannot do, stating “Learn to be okay with silence. No is a full sentence. Go be quiet.”
Instead, she suggested using the time to build connections with other people such as co-workers, family, friends and acquaintances, who may otherwise be taken for granted.
NYBC honors industry legends
Nearly 1,000 members of the building community gathered to pay tribute to four industry legends during the New York Building Congress 2014 Industry Recognition Dinner on November 19 at the Grand Hyatt in Manhattan. Parsons Corporation Chairman, CEO, and President Charles L. Harrington and Perkins Eastman Chairman Bradford Perkins, FAIA, AICP, MRAIC were honored with Industry Recognition Awards. The George A. Fox Public Service Award was presented to Jones Lang LaSalle Vice Chairman Raymond Quartararo, and the Building Congress offered Special Recognition to DASNY President and CEO Paul T. Williams Jr.
Massey Knakal Multifamily Summit
Multifamily owners, operators, investors and experts came together at the Massey Knakal Multifamily Summit & Operations Academy, a two-day event held at the McGraw-Hill Conference Center. With over 800 in attendance, this was the largest multifamily conference to date.
Real Estate Fight Night
Some 550 real estate executives representing dozens of “blue chip” firms turned out to Madison Square Garden Theatre for an evening of action in the ring and networking. Bouts began at 6 pm and culminated with the anticipated main event after midnight featuring Muay Thai master Chris Kwiatkowski, of J.D. Carlisle and Spencer Grekoski, who trained at the Weapons Nine gym in New Jersey. Kwiatkowski knocked down Grekoski in the first round, but ended up losing in the second. Event organizers invited 100 active duty U.S. troops and veterans so they could enjoy the action.
Real estate’s rockers let their hair down
Real estate professionals from across the industry rocked out for charity on December 2nd at the fourth annual Real Estate Rockers in Relief concert at the Highline Ballroom in New York City. The concert raised awareness and funds for the Jewish Disaster Response Corps (JDRC), an organization that assists communities across the nation with long-term domestic disaster recovery, including ongoing local relief efforts in the tri-state area following Hurricane Sandy.
The event, organized by Carl Schwartz, co-chair of Hunton & Williams LLP’s global real estate practice, and Hunton & Williams’ client, The Worldwide Group, drew a packed house and raised $90,000 for the JDRC.
The bands, including Normal by Day, led by Schwartz, and Midlife, led by David Lowenfeld of The Worldwide Group, covered songs by artists ranging from The Who to Tom Petty to Weezer.