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ICSC at the Javits Center

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More than 9,000 executives are attending the three-day New York National Deal Making, which for the first time this year is being held at the Javits Center.

Global capital was the focus of one panel which heard some finance leaders outlines risks on the horizon.

Marc Shapiro, a partner at Mayer Brown LLP, said he has noticed lenders becoming aware of a growing risk of default. “More so than in the past, we are seeing capital saying: What happens if we end up owning the site?” he said.

Shapiro shared the stage with Jill Block, also of Mayer Brown LLP, and three real estate bigwigs on the final day of ICSC New York in the Javits Center yesterday (Tuesday). While none of the panelists expect a serious downturn in the commercial real estate market anytime soon, they all cautioned that could change.

In a keynote address, Donald Trump  noted his preference for physical retail over Internet shopping. “I want to touch it and feel it,” he said.

And Simon Properties CEO David Simon spoke of the learning curve faced by Chinese retail investors.  “Their desire has obviously been big hotels, big office buildings. But they are confused about retail,” he told ICSC delegates today (Tuesday).


HFZ and Corcoran Sunshine host food tasting

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20141112_0001Tricia Hayes Cole, MacKenzie Thorn, Beth SternHFZ Capital Group and Tricia Hayes Cole & Beth Stern of Corcoran Sunshine Marketing Group hosted a Tasting of Midtown East at the model apartment of Halcyon, 305 East 51st Street. Guests mingled in the space designed by S.Russell Groves, while enjoying cuisine from the top local restaurants. 

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Tricia Hayes Cole, MacKenzie Thorn, Beth Stern

Moinian hosts cocktail party at the W

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WResidences_John Jegen, Michael Politi, Kimberly Lewis_20141125_034Officially kicking off the holiday weekend, The Moinian Group hosted a Fast Track to FiDi Cocktail party at the W New York- Downtown Hotel and Residences. Guests and brokers enjoyed a tour of the beautiful model apartments followed by a reception in the residents lounge on the 31st floor.  Throughout the evening guests marveled at the views and enjoyed a guest speaker from the Downtown Alliance, who discussed all of the exciting changes taking place in the FiDi and Downtown New York.

Guests were then escorted to The Living Room Bar and Terrace to continue the evening. “Life in New York is so fast paced, it’s incredible to be able to live in a building where you have everything at your fingertips.”  Notables included Jared Seligman of Douglas Elliman and his team and Haley Rutherford from The Rana Williams Team at Keller Williams. 

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Jared Seligman, Tierney Model

Art of Construction at Stella Tower

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Dottie Herman, Vickey Barron, Michael Stern, Howard Lorber, Janine Giurin

JDS Development Group and Property Markets Group, in conjunction with the New York Academy of Art, held a broker party  titled “The Art of Construction” within their new residential conversion project, Stella Tower. The evening featured artwork by Nicolas V. Sanchez, who commissioned dozens of artistic sketches detailing the building construction at Stella Tower from the beginning stages. Sanchez made a speech, in addition to the building’s Director of Sales Vickey Barron and Douglas Elliman Chairman Howard Lorber. Douglas Elliman President and CEO Dottie Herman was also in attendance. Stella Tower is located at 425 West 50th Street between Ninth and Tenth Avenue in Hell’s Kitchen. Sales are still underway.

Hamilton-Madison House Fall Gala

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Antonio Biondi, a principal with the asset services group of Avison Young’s NYC office, was recently honored alongside NY Yankees legend Mariano Rivera and Kaback Enterprises President John Murphy at Hamilton-Madison House’s 13th annual Gala Fall Classic. The three were recognized for their service to the non-profit organization, which was established in 1898 to foster the wellbeing of NYC’s vulnerable populations including the elderly, children, the ill and handicapped, new immigrants/refugees and the unemployed. Hamilton-Madison House’s offerings include senior centers with more than 5,000 members citywide; the largest outpatient behavioral health program focused on the Asian community on the east coast; early childhood programs for children between the ages of 2-6; and a music school that provides affordable music lessons for children ages 5-12. The Gala Fall Classic, which was held at Capitale (130 Bowery), featured silent and live auctions.

PWC Holiday Gala

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Albert Dibernardo, Weidlinger Associates; Nancy Czesak and Hector Rodriguez, Tishman, an AECOM Company

Photos by Pearl Perkins

Professional Women in Construction (PWC) Executive Director Lenore Janis hosted the organization’s 35th anniversary in 2015 at the organization’s annual black tie holiday gala at the Yale Club. The event paid tribute to a trio of honored guests; Caroline Weiss, associate principal, Weidlinger Associates, Inc; Jeannie Kwon, chief of staff, MTA Capital Construction (MTACC; Lillian Valenti, chief procurement & contracting officer, Port Authority of NY & NJ (PANYNJ).

Moinian Holiday Party

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From left to right: Mitchell Moinian, Senior VP of The Moinian Group and Bruce Mosler, Chairman of Global Brokerage, Cushman & Wakefield.

Photos by Steve Friedman

Hundreds of guests gathered at Espace on Manhattan’s West Side for The Moinian Group’s 2014 holiday party – just steps from Moinian’s 1,174-unit luxury residential development, 605 West 42nd Street. Attendees included top executives in the real estate industry – Joseph Moinian, himself, his brother, Morris Moinian, Principal and Founder of Fortuna Realty Group, and Jay Badame, President and COO of New York, New Jersey and Pennsylvania for Tishman Construction – as well as top brokers, including Bruce Mosler, Chairman of Global Brokerage of Cushman & Wakefield, and Luis Ortiz from Bravo’s Million Dollar Listing New York, and many more. Guests enjoyed specialty cocktails named to reflect the Moinian brand and upcoming projects, such as the ‘Moinian Manhattan’, ‘French 605’, ‘3HB G&T’, and ‘11th Ave Martini’.  While enjoying the musical styling of the 9-piece live band, Soul Connection, guests were treated to a tequila tasting featuring Don Julio 1942 and Don Julio 70.

Tissot ambassador Tony Parker at 45 Wall

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Tissot Ambassador and NBA star, Tony Parker signing autographs for fans

Swiss Watchmaker Tissot hosted a basketball shooting competition and fan meet and greet with NBA star and Tissot Brand Ambassador Tony Parker  for the opening of Tissot’s second watch boutique in the United States at TF Cornerstone’s 45 Wall Street in the Financial District.


REBNY elects Residential Board of Directors, Ethics Committee

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Frederick Peters, Warburg Realty

REBNY’s Residential Brokerage Division gathered  at Bank of America for its Annual Meeting, where it discussed REBNY updates, heard presentations, and announced the results of the 2014 Ethics Committee and Residential Board of Directors elections.

Following Residential Division updates from John Doyle and Michael Slattery, presentations were given by Tim McGee, Director at Macro Strategy, and Gregg Larson of Clareity Consulting. McGee’s presentation, “Housing Market Realities,” focused on the future of the housing market and cast it in a hopeful, positive light.

“Some people think that we’re still in a recession,” said McGee. “When you look at the numbers, that’s clearly not the case.”

Larson’s presentation, “What are the Realities and Misconceptions of Listing Syndication?,” highlighted several listing services, such as Street Easy and Zillow, and explained how to make these websites work for you, and when to stay as far away from them as possible.

“Be wary of these kinds of websites,” Larson warned. “They aren’t always the best idea, and some can be shady.”

To conclude the meeting, Kenneth Scheff of Stribling & Associates announced the winners of the 2014 elections. REBNY would like to congratulate the following Residential Board of Directors election winners: Michael Bisordi of Tungsten Properties, Frederick Peters of Warburg Realty Partnership, Douglas Heddings of CORE, and Wendy Matlin of TOWN Residential.

REBNY also extends its congratulations to Ethics Committee election winners Stephen Kliegerman of Halstead Property and Rebecca Mason of Stribling & Associates.

NYCREW Empire Awards & Gala

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NYCREW’s 2014 Board: from left, Director Beth Zafonte, Akerman LLP; Treasurer Nancy Wood, ABS Partners Real Estate; Director Erin Beitz, Carmel Partners; President Laura Walker, Citi Commercial Bank; President Elect Christine Chipurnoi, Wells Fargo Insurance Services; Director and NYCREW Director Faith Hope Consolo, Douglas Elliman Retail Group; Director Annemarie DiCola, Trepp LLC; Past President Shari Linnick, Trepp LLC; Director Theresa Garelli, Esq

Photo Credit: www.onefinedayphotographers.com

The final Annual Gala and Empire Award presentation hosted by the New York chapter of Commercial Real Estate Women’s Network (NYCREW) saw more than 100 members and guests exchanging fond memories and looking forward to the chapter’s merger with the Association of Real Estate Women (AREW) to form CREW New York. Held at the historic Columbus Citizens Foundation Townhouse, the event, emceed by NYCREW and CREW Board Member Faith Hope Consolo, Chairman of Douglas Elliman’s Retail Group, featured reminiscences from NYCREW co-founder Dotti Cunningham of globeDOTTIng Travel and two-time past president Barbara E. Champoux Esq. A highlight was the presentation of the Empire Award, honoring a member showing outstanding dedication to the organization and industry, to Leila
Larijani, Senior Vice President of Wealth Management at UBS Financial Services by Past President Karen Dome, Senior Associate of Marcus & Millichap, and award creator and sponsor Consolo. A raffle of donated prizes raised funds for the CREW Network Foundation, the only foundation dedicated solely to advancing women in commercial real estate.

Argo Real Estate Holiday Party 2014

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Argo Real Estate, a top independent real estate owner, property management company and brokerage firm, hosted its annual Holiday Party on December 11th at the Manhattan Penthouse in Union Square.

Approximately 200 Argo guests, including employees from both the residential brokerage and the management sides, were in attendance. The fun-filled evening included a cocktail hour, dinner, dancing and a photo booth.

 

Photos: MNS Throws Holiday Bash

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MNS celebrated 2014 by recently holding its holiday party at the Brooklyn Winery.

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Photos: Empire Stores Renderings

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Empire Stores, the waterfront complex in Dumbo that is currently being adaptively restored by development firm Midtown Equities, has formally released marketing materials on Tuesday on their website empirestoresdumbo.com. Along with new renderings of the building’s interiors, exteriors, rooftop and public spaces, they’ve also introduced several 3D interactive floor plans that allows for prospective tenants to digitally tour through the office space and outdoor areas.

Scott Panzer and Howard Hersch from Jones Lang LaSalle are handling all office leases.

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Overlooking Empire Stores' rooftop terrace. Carefully curated retail accentuates the streetscape and Park, while dedicated cultural space will inform and delight tenants and visitors alike on the building's legacy.

 

Photos: TOWN Residential and Roc Nation Sports celebrate the premiere of throne boxing

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TOWN Residential partnered with Roc Nation Sports to present the star-studded debut throne boxing event on January 9 from The Theater at Madison Square Garden.

With Shawn “JAY Z” Carter,” Jake GyllenhaalRihanna, Andre Ward, “OG” Juan Perez, CC SabathiaRosie PerezSpike LeeDJ Envy and more joining TOWN CEO Andrew Heiberger in the TOWN Residential Luxury Ring-Side Rows, the evening featured performance from Fabolous, continuous music from hit producer DJ Mustard, and on-air hosting by Roc Nation multi-media personality and “Voice of New York” Angie Martinez.

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In the main event, Dusty “The Beltway Boriqua” Hernandez-Harrison (25-0, 13 KO’s), of Washington, D.C. defeated Tommy “The Razor” Rainone (22-6-1, 4 KO’s) of Plainview, New York in a ten-round bout to claim the WBC Continental Americas Welterweight Championship.

In the co-featured bout, 2008 Bahamian Olympian Tureano Johnson (18-1, 12 KO’s) defeated Colombia’s Alex Theran (17-2, 9 KO’s) in the sixth-round to claim the WBC Silver Middleweight and the vacant WBA International Middleweight Championships.

$1 from each ticket sold was donated to the Muhammad Ali Center, an interactive multicultural center that promotes respect, hope, and understanding while inspiring children and adults alike to be as great as they can be.

 

 

$48M deal to build animal ARK at JFK Airport

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Rendering of the new facility.

Rendering of the new facility.

ARK Development, LLC, an affiliate of leading real estate company Racebrook Capital, announced today it has signed a 30-year lease with the Port Authority of New York and New Jersey to develop, finance, construct, operate and manage The ARK at JFK, a $48-million, 178,000 s/f  state-of-the-art animal handling and intelligent air cargo facility.

The ARK will be the world’s only privately owned animal handling cargo terminal and USDA-approved, full-service 24-hour airport quarantine facility for the import and export of horses, pets, birds, and livestock.

The ARK at JFK will be constructed at the current site of Cargo Building 78 at JFK, with 14.4 acres of surrounding ground area, which includes direct airside access to the taxiway and large aircraft ramp parking. It will be divided into three complementary sections: the air cargo wing, a central administrative and business center with 24-hour veterinary hospital, and the main animal handling facility with pet boarding, animal import and export center, and livestock export handling system.

“We developed The Ark concept to address the unmet needs for the import and export of companion, sporting and agricultural animals,” said The ARK at JFK Founder and Racebrook Chairman John J. Cuticelli, Jr. “The animal terminal will set new international airport standards for comprehensive veterinary, kenneling and quarantine services.”

The $48 million project will create more than 180 jobs and generate revenues for the Port Authority of New York and New Jersey estimated at $108 million over the span of the project’s 30-year lease. The completed facility will significantly increase cargo throughput at the airport.

PATRICK FOYE

PATRICK FOYE

“Redeveloping cargo infrastructure and growing the cargo pie at New York and New Jersey’s airports is vital to supporting thousands of jobs and hundreds of millions of dollars in economic activity for the region,” said Port Authority Executive Director Pat Foye. “ARK’s investment of $48 million into JFK will transform an airport structure that has been vacant for nearly 10 years into a world-class specialty cargo facility, and the agreement guarantees the Port Authority more than $100 million in revenue without any additional capital investment.”

Financing will be facilitated by Build NYC, the City’s conduit bond issuer, which will issue bonds underwritten by Goldman Sachs, as well as equity partner Westport Capital Partners LLC, and construction lender The Union Labor Life Insurance Co., Real Estate Investment Group. “Build NYC bonds are a crucial tool in the City’s overall efforts to drive the economy, encouraging business growth and job creation in all five boroughs,” said Jeffrey Lee, Executive Director of Build NYC. “The Air Cargo industry at JFK is an important component of New York City’s greater economy, directly responsible for over 17,000 jobs, and The ARK at JFK will help bolster JFK’s competitive advantage as an international air cargo gateway, a major New York City Economic Development Corporation priority.”

The ARK at JFK has been designed by leading architects, designers and engineers, including master architect Gensler, equine-specialty architect Gralla Equine Architects (GH2), construction manager Holt and Grandin Livestock Handling Systems (GLHS), with guidance from Cornell University’s College of Veterinary Medicine and the U.S. Department of Agriculture.

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Cattle handling area.

“Gensler is accustomed to designing airports with an eye to fostering wellbeing for people, yet The ARK at JFK posed a unique design challenge for us: to create a place that could ease and simplify the sometimes complex process of transporting animals by plane,” said Gensler Architect and Senior Associate Cliff Bollmann.

“For the animals who pass through The Ark, as well as the people who own them, air travel can be stressful and confusing.” He added that, “aligning the needs of quarantine with kenneling and elevating the experience for animals and their owners, our design team sought to create a comfortable, healthy environment for them all.”

Holt Construction has been intimately involved in the construction planning of The ARK at JFK for the past several years. Holt’s President Christopher Asaro is “thrilled to be part of this unparalleled project. The importance of this project cannot be overstated, as it is the first of its kind. The ARK will stimulate the local economy while providing a wider range of services to a variety of animals, its benefit to the airlines as well as the local and global communities makes this a model project in our industry.”

“The ARK at JFK represents an enormous leap forward in the care and comfort of horses and cattle that travel through the airport,” said Ms. Lachlan Oldaker, RA, Specialty Practice Leader/Senior Equine Architect, GH2 Gralla Equine Architects. “The design allows planes to taxi directly to the building, so horses can be transported in a seamless fashion that reduces stress.”

 Oldaker added that there is a large animal departure lounge, where horses for export have access to comfortable stalls, food and water. There is also an arrival area where the horses’ vitals are taken before they are placed in individually climate controlled units equipped with bedding and natural light. The cattle handling facility is similarly designed for optimal ease.

“This really is a worry-free, one-stop shop for passengers and animals, thanks to the various on-site offerings, including Paradise 4 Paws, an aviary and a veterinarian,” she said.

The ARK at JFK will provide both airside and landside services to board, kennel, quarantine, import, export and transport large and small animals. Additional services will include transportation in dedicated climate controlled vehicles from aircraft, terminals, cargo facilities and other airport locations. A livestock export handling system designed by Professor Temple Grandin, the leading authority on livestock movement, will allow for the safe and efficient handling of cattle, goats, pigs and sheep from truck to aircraft.

Racebrook is subleasing approximately half of the facility to Consolidated Aviation Services (CAS), North America’s leading air cargo ground handler, which will serve as the anchor tenant. CAS will handle non-animal airfreight for the terminal including the receipt, storage and distribution of air cargo.

“We are excited to partner with Racebrook on such a monumental and visionary project that will utterly transform the way other airports approach their animal handling responsibilities,” said Mike Duffy, CEO of Consolidated Aviation Services, which will serve as the exclusive ground handler for the ARK and Sky team, including Air France, the French flag carrier headquartered in Tremblay-en-France; Alitalia, the national airline of Italy; and KLM, the flag carrier airline of the Netherlands.

In addition, Paradise 4 Paws will bring award-winning service in the form of a 20,000 s/f 24-hour pet resort with overnight accommodations for cats and dogs, dog daycare, grooming, training, and airport parking.

“Paradise 4 Paws has been expanding significantly over the past year, with our most recent opening at Denver International Airport, and we are thrilled to now be able to offer our services to travelers out of JFK Airport,” said Saq Nadeem, Top Dog and CEO at Paradise 4 Paws.

A key component of The ARK at JFK will be state-of-the-art veterinary services available 24/7, 365 days per year, including general medicine, emergency, critical care, internal medicine, surgery and advanced diagnostics provided by LIFECARE, a new veterinary hospital system committed to providing the most advanced medical care options and treatments to pets across the country.

The LIFECARE Veterinary Health System also includes several renowned veterinary specialty practices in the northeast, including Red Bank Veterinary Hospital in New Jersey, VRC in southeastern Pennsylvania and East End Veterinary Emergency and Specialty Center in Long Island, NY.

“LIFECARE’s partnership with The ARK at JFK is a perfect fit for our growing organization as we are committed to providing state-of-the-art and comprehensive veterinary care for pets whenever and wherever life takes our clients,” said John Payne, CEO and Founder of LIFECARE.

“We are excited to embark upon such a game-changing development, which will revolutionize the care of animals in an aviation environment,” said Dr. Aaron S. Perl, Founder and Managing Director of The ARK at JFK and General Counsel of The Racebrook Portfolio Companies. “We are proud to have brought together one of the most prestigious project development teams in the field to bring this vision to life.”

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HFZ opens Chatsworth’s doors

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Douglas Brown, MacKenzie Thorn, William Tims, James LansillTop brokers were in attendance to preview the spectacular model residence by Pembrooke & Ives at The Chatsworth, a development by HFZ Capital Group . Sophia Cicilioni and Michele Hinojos, of the Chatsworth, were present to give tours of the building and model apartment.  Guests and brokers enjoyed an English –Style Bubbles and Sweets Celebration with savories from Tea & Sympathy.  

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Douglas Brown, Mackenzie Thorn, William Tims, James Lansill

CoreNet members welcome the New Year at Rainbow Room

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Lou Nowikas, Vice President, Real Estate & Facility Planning, Hearst; Paul Formichelli, Senior Vice President, Jones Lang LaSalle; Sonya Verny, Manager of Business Development & Corporate Real Estate Services, BDO USA LLP; Marcus Rayner, Managing Principal, Cresa

CoreNet Global New York City Chapter (CoreNet NYC)  hosted its sold-out Annual New Year’s Party at the Rainbow Room in New York City. Over 400 CoreNet NYC members and guests from the corporate real estate industry gathered to celebrate the start of the New Year, topping last year’s attendance. The event was hosted at the much anticipated, newly reopened Rainbow Room at Rockefeller Center. Guests were excited to be able to enjoy networking with fellow industry professionals while surrounded by iconic views of Manhattan.  Looking into the year ahead, the organization hopes to continue its momentum in 2015 and lead the commercial real estate industry in New York City.

Silverstein’s 30 Park Place tops out

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4J9Z9844-XLSilverstein Properties’ 30 Park Place officially topped out last week.

The tower is now the tallest residential building on New York’s iconic Downtown skyline, with 157 residences starting on the 40th floor featuring views of the Hudson and East Rivers, New York Harbor, Empire State Building and all of Midtown. The residences are perched above the 189-room Four Seasons Hotel New York Downtown, which is slated to open in 2016.

Located at the corner of Church Street and Park Place in Tribeca, 30 Park Place, Robert A.M. Stern Architects designed the exterior and interiors, with SLCE serving as the Architect of Record. The residences feature oversized bay windows, ceilings as high as 13’10”, and feature solid white oak floors, white oak framed Bilotta kitchen cabinetry and marble baths with custom-designed vanities. 11 unique half and full floor penthouses crown the top of the building, each including fireplaces and outdoor space.

Financing for the $1 billion hotel and residency development was provided by a leading UK-based hedge fund; and Cumming, an international program and cost management firm, is providing ongoing project monitoring services on behalf of the lender.  [[Show as slideshow]]

100 Norfolk first residents event-Photos

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100 Norfolk celebrated its first residents event at a private dinner and chef’s tasting held at the Gaggenau Showroom & Kitchen on Tuesday, January 13, 2015. The invitation-only event brought together future residents of the development to meet their new neighbors and become more familiar with the new building that will exclusively feature high-end, ultra-modern appliances by Gaggenau. The building is currently 70% sold, with only select units remaining.

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Kais Zaiane, Strategic Business Development, BSH; Andrew Karcich, Northeast Builder Sales Manager, BSH; Ariel Tirosh, Broker, Douglas Elliman

Buyers and their guests enjoyed a private cooking demonstration by Gaggenau and live jazz music and enjoyed the evening with the building’s development team Adam America Real Estate, The Naveh Shuster Group, and The Horizon Group as well as building architect, Eran Chen of ODA Architecture, as well as Douglas Elliman’s Ariel Tirosh.

 

Ziel Feldman at YMWREA

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The Young Men’s/Women’s Real Estate Association held its February luncheon at the University Club with Mr. Ziel Feldman, Chairman and Founder of HFZ Capital Group, as its guest speaker.  Mr. Feldman spoke to the crowded room about his start in the real estate industry as an attorney and his move to the development side in the early 1990’s.  Since founding HFZ in 2005, Mr. Feldman has over five million square feet of residential assets under development or management.  HFZ’s focus right now is to develop residential condominiums  in strong, supply constrained submarkets of Manhattan, such as Chelsea.  Among the company’s many active projects in New York and Miami, the company is actively developing projects near the Highline, the Upper Westside and the Upper Eastside. Board Photo from L to R, T to B (Dan Birney, RXR Realty; Ryan Silverman, RFR Realty; Justin Royce, Cushman & Wakefield; Lenny Lazzarino, Edison Properties; Jonathan Tootell, Newmark Grubb Knight Frank; Ziel Feldman, HFZ Capital Group; AJ Camhi, RFR Realty).

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