By Daniel Geiger
Bruce Mosler, a top leasing executive at the real estate services firm Cushman & Wakefield, has been named the leasing agent for two buildings in midtown, 260 and 261 Madison Avenue, Cushman & Wakefield announced.
Since stepping down as Cushman’s chief executive last year to return to brokerage, Mosler has picked up a number of leasing agencies with landlords, including the multimillion square foot commercial portfolio of the real estate investor Charles Cohen.
Mosler’s string of landlord representation assignments in the months since he returned to deal making has appeared to bolster for Cushman an area of the brokerage business where it has lagged rivals such as the large services firm CB Richard Ellis.
260 and 261 Madison Avenue are owned by the Sapir family and occupy the opposing block fronts along Madison Avenue between 38th and 39th Street. Prior to naming Mosler to head a Cushman team to handle leasing work at the property, the Sapir family leaded the building using brokers from CBRE.
The buildings are 21 and 28 stories high respectively and together total about 575,000 s/f in size. According to C&W’s announcement, a total of 155,000 s/f of vacancy exists between the two properties in pockets that range from 9,000 s/f to a contiguous space 44,000 s/f in size. Mosler will handle the assignment with Alan Wildes, a more junior executive at Cushman.
Coming back to brokerage after over five years as a top level management executive at Cushman, Mosler has quickly slipped back into brokering prominent leases in the city. He recently represented NYU Langone Medical Center in a large over 300,000 s/f leasing renewal and expansion at One Park Avenue.
Mosler has appeared to focus attention on making sure his brokerage practice includes a substantial portion of work with landlords. The strategy could be a savvy as the market continues to tighten, forcing tenants to increasingly vie for same spaces. If that situation plays out, agency representatives will potentially earn a steadier flow of commission checks than tenant representatives, who may be pushed out of deals because of the more heated competition between tenants.
In addition to 260 and 261 Madison Avenue and the Cohen portfolio, Mosler, along with another Cushman executive Arthur Mirante, were recently named the leasing reps for 681 Fifth Avenue, a 62,000 s/f boutique office building owned by Metropole Realty Advisors. Mosler and Mirante, two former Cushman CEOs who partnered to form a high power brokerage team last year, are also the leasing agents for 625 Fulton Street, an office building in downtown Brooklyn.
The pair also were recently named as team members on a C&W team that handles leasing at the office tower 1290 Avenue of the Americas, a 2 million s/f office building owned by Vornado Realty Trust where Cushman has its headquarters.