Challenging a general corporate trend toward more open work spaces, Studley is moving four blocks uptown on Park Avenue to a new location that gives nearly all of its agents their own private office.

The 56-year-old commercial real estate advisory firm is moving from 300 Park Avenue at 50th Street to 399 Park Avenue between 53rd and 54th streets, where it will occupy the entire 61,000 square feet of the 11th floor previously leased to Lehman Brothers.

The Real Deal took an exclusive first look at the office space being readied for its nearly 140 agents and employees.

The company officially closed its old office yesterday at the end of the day and plans to reopen for business at the new location Monday. [more]

A Bronx property owner pleaded guilty today in Manhattan federal court to charges that he fraudulently sold a commercial building for $5.9 million earlier this year, authorities said.

According to prosecutors, Mark Benun, 35, partnered with another company to buy the building at 67-79 East 161st Street in 2006 for $9.5 million. Benun, who brokered the deal, was given a 25 percent interest in the property, while the other investor, identified in city property records as Lido Realty of Brooklyn, held a 75 percent interest, according to the US Attorney in Manhattan. Despite his minority interest, Benun sold the property in February 2009 for $5.96 million using forged deed and mortgage documents, prosecutors said.
Following the bogus sale, Benun wired at least $450,000 to other bank accounts, and in addition withdrew about $1.4 million which he used to buy gold bars in Manhattan. TRD [more]