The Real Estate Board of New York (REBNY) inducted three more deals into the commercial real estate hall of fame by announcing the winners of its Most Ingenious Deal of the Year Awards last night at the Commercial Sales Brokers Committee annual cocktail reception held at the 101 Club.
Twenty-seven real estate dealmakers submitted ingenious sale, lease, and finance transactions for a chance to compete for the distinguished first, second, and third place trophies.
And the winners are…
· The first place Henry Hart Rice Award, was presented to Tara I. Stacom and Michael Rotchford of Cushman and Wakefield for “Transforming a White Elephant into a Precious Jewel: The Leasing of One World Trade Center.”
· The second place Robert T. Lawrence Award was presented to Mary Ann Tighe and Gregory Tosko from CBRE for “Condé Nast Commits to One World Trade Center.”
· The third place Edward S. Gordon Award was presented to Darcy Stacom, William Shanahan, and Paul Gillen from CBRE for 2 Gotham Center.
“As 2011 marked the tenth anniversary of 9/11, it is important to recognize the progress that has been made Downtown. The transformation of Ground Zero to One World Trade Center holds historic weight and will be remembered for restoring confidence back in the city,” said REBNY president Steven Spinola.
“I commend our commercial brokers for the work they do to make New York City home to so many businesses.”
The three award winners were recognized for deals that demonstrated the highest levels of ingenuity, creativity and professional skill.
The first place winners, Tara I. Stacom and Michael Rotchford of Cushman and Wakefield, played instrumental roles in creating two public-private partnerships to begin leasing at One World Trade Center (OWTC) arguably the most high-profile building in the world.
Stacom and Rotchford acted as financial advisor and leasing agent to create a partnership between the Port Authority of New York and New Jersey (PA) and Silverstein Properties to jump-start the leasing of the three million square foot tower and complete the Condé Nast lease.
The real estate pros also finessed a second public-private partnership between the PA and The Durst Organization to further the leasing progress.
For second place, Mary Ann Tighe and Gregory Tosko from CBRE facilitated the successful one-million-square-foot lease of One World Trade Center to Condé Nast.
The powerhouse team had to work through a labyrinth of constituents to the World Trade Center to gain consensus and agreements necessary for Condé Nast’s commitment to Downtown.
The move from 4 Times Square to One World Trade Center will enable Condé Nast to manage its long-term occupancy costs in a 21st century workspace.
The third place award was presented to Darcy Stacom, William Shanahan, and Paul Gillen from CBRE, Inc., for their sale of the Office and Retail Unit at the Two Gotham Center Condominium in Long Island City, a newly constructed 670,000 square foot office tower leased to the New York City Department of Health.
The purchase price shattered the previous Long Island City record and was the third largest outright sale of 2011.
Sponsors for the cocktail reception were Massey Knakal Realty Services, Eastern Consolidated Real Estate Investment Services, The Durst Organization, Donald Zucker Company, Cushman and Wakefield, Vornado Realty Trust, Rudin Management Company, Silverstein Properties, and The New York Times.