Brooklyn boom a tale of two halves
Brooklyn’s spectacular residential boom shows no signs of slowing down. According to the Corcoran Group’s third quarter report on the residential real estate market in … Continued
Category : Featured
Veteran Miller spurns the quiet life for cut and thrust of dealmaking
Alan Miller talks a mile a minute. One sentence barely has time to finish before his next thought comes tumbling out, accompanied by clarifying hand gestures. His high-energy conversations fly through space, time, ideas — and every inch of Manhattan real estate. “The key to real estate is knowledge. Hard work goes unsaid, but this business is about knowing information, retaining it, applying it,” he said. “I have a very good memory.” Miller, a principal at Eastern Consolidated, started his real estate career in 1985 at the age of 22. Fresh out of the University of Massachusetts at Amherst with a degree in economics, he and a friend had moved to the West Village apartment his older sister vacated after her marriage. It was the sort of maneuver, he noted, that would be almost impossible in today’s super-tight residential market.
Real estate techies out to revolutionize biz
For a few ambitious real estate professionals, the burst bubble of 2007 was not a disaster, but an opportunity. By bringing new technologies into the work of real estate professionals, companies like Metis and Compstak hope to revolutionize the industry. “The world started to change in 2007,” recalled Joy Hou. “I had a young child, and had to ask myself: am I better off with my current job, knowing that the market isn’t coming back anytime soon?”
Nothing wrong with normal as firms roll out 3Q numbers
By Holly Dutton With a series of jumbo leases on the horizon and a solid third quarter performance, the city’s real estate firms have produced … Continued
Huffing and puffing, Extell goes to the wire in fight to wrest Ring buildings from Frank
A third delay in the scheduled auction of a Frank Ring office building has the real estate rumor mill in over-drive. Court-appointed lawyer Joshua Stein announced on Monday that the auction of 251 Park Avenue South scheduled for today (Wednesday) has been pushed back for a third time. As a court-appointed referee in litigation between the co-owners Frank Ring and Extell, Stein said he was not aware of a settlement between the two parties, although he conceded, “it may be that they are trying to settle.ˮ As Real Estate Weekly went to print, the New York Post reported un-named sources citing a multi-million dollar deal has indeed been struck.
Five new tenants for 1140 Avenue of the Americas
Jones Lang LaSalle has completed five new, direct transactions, totaling 44,568 square feet, for Blackstone Group LP-owned Equity Office Properties at 1140 Avenue of the Americas. Starwood Property Trust Inc. and CityMD each leased 12,750 square feet; Dabroes Management LP took 8,500 square feet; and Bow Street LLC and King & Grove Hotels each signed for 5,284 square feet at the Class A, 253,418-square-foot, commercial office building.
Malkins ring in (ESRT)
Peter and Tony Malkin at the New York Stock Exchange Peter and Anthony Malkin rang the bell at the opening of the New York Stock … Continued
Futterman makes jump to UK, eyes Asia next
New York-based retail real estate specialists RKF has made the jump to Britain - and might soon expand into Asia. The company announced this morning it has formed "an affiliation" with U.K.-based retail consulting firm CWM Retail Property Advisors, LLP (CWM). It marks the first time that RKF has formalized ties with an overseas firm. The move sets the stage for the RKF and CWM, which has a presence in Asia, to collaboratively expand their presence.
Future looking Good for go-getter Gurwitz
Joshua Gurwitz By Holly Dutton A New York City native is meshing design and development and making a big splash in the real estate industry. … Continued
Katz shows off Highline cousins
Sherwood Equities has released a rendering of a new single-story retail space currently under construction off the High Line on 20th Street. Designed by Mark Zell, the building will have 30-foot ceilings and a roof garden accessible by elevator that is level with the High Line Park. It will serve as a dramatic sales center for Sherwood’s neighboring condo project at 500 West 21st Street, where sales scheduled to start at the end of this year. The developer then plans to rent the space, most likely to a restaurant or art gallery.