From left: Broker Herb Goldberg, landlord Charles Cohen and 333 Westchester Avenue in Westchester

Edward Warren & Co., a brokerage formerly based in Manhattan, triumphed in a recent lawsuit against New York landlord Charles Cohen’s Westchester Building Company, the company that owns buildings managed by his Cohen Brothers Realty, over a $2.1 million commission from 2008′s reported third largest commercial leasing deal in New York State.

Though Westchester Building Company and Cohen Brothers Realty are legally separate entities, they share the same principal employees and offices.

Edward Warren & Co. and Herb Goldberg, a longtime broker who previously worked at Warren, but has since moved to Manhattan-based City Connections, won the case Sept. 25 in Westchester Supreme Court. They were awarded the full commission amount, plus 9 percent interest on the total judgment, amounting to a total of $2.1 million.  [more]

New York City prebuilt office spaces, built by a landlord before leasing as opposed to being commissioned by a tenant, are evolving into a crucial part of building sales strategy and attracting higher-end clients, according to the New York Times. Companies that don’t have the time, resources or patience to go through a construction process are moving straight in to these sophisticated spaces.

Developers are looking to cash in. Cohen Brothers Realty has prebuilt 100,000 square feet in the last five years and is working on an additional 50,000  square feet. RFR Realty recently prebuilt the entire second floor of 17 State Street. And RXR Realty is prebuilding nearly half of the empty space at 340 Madison Avenue and up to 20 percent at 1330 Sixth Avenue. [more]

Has the housing market hit bottom? Charles Cohen, head of Cohen Brothers Realty was among the nationwide panelists tackling the question in this MSNBC video. Cohen, for his part, said that New York City has seen a move toward recovery. “We’re seeing a general improvement in New York City,” Cohen said. “We’re seeing velocity, stabilization… rents are not going down any further.”

[more]

(Photograph by Ben Baker for The Real Deal)

From the March issue: Charles Cohen is the president and CEO of Cohen Brothers Realty Corporation, the company founded by his family in the 1950s. CBRC owns and manages more than 12 million square feet of office space and design centers across the country, including 623 Fifth Avenue, the Decoration & Design Building and the Pacific Design Center — designed by Argentine architect César Pelli — in West Hollywood, Calif. He was also the coproducer of the film “Frozen River,” which in 2009 received Oscar nominations for best original screenplay and best actress. This month, Cohen sat down with The Real Deal to talk about the movie business, real estate lessons from his dad, and why trivia isn’t trivial. [more]

The Daffy’s location at 135 East 57th Street and Charles Cohen

Charles Cohen, CEO of Cohen Brothers Realty, is looking to oust discount clothing retailer Daffy’s from its 50,000 square feet of space at 135 East 57th Street, after allegedly receiving backdated lease renewal forms from the tenant, according to the Post. In a lawsuit Cohen filed against the clothier, the landlord claims that Daffy’s missed its deadline to renew its lease at the Midtown side space, in which it had been a tenant since 1994, before Cohen owned the building, but then sent the renewal papers several days later with incorrect dates. “I am outraged and shocked that somebody would resort to a cover-up instead of reaching out in advance,” Cohen said. According to the suit, Daffy’s already intends to head into court to retain its spot. [more]

From left: Charles Cohen of Cohen Brothers Realty and Bruce Mosler of Cushman & Wakefield

When outgoing Cushman & Wakefield CEO Bruce Mosler steps down March 22, he’ll be settling into both his new role as co-chairman and a “strategic real estate consultant” position for developer pal Charles Cohen. Cohen, president and CEO of Cohen Brothers Realty, has assembled what he is calling a “dream team” of Cushman hotshots to lease and reposition four of his most prominent Manhattan commercial properties. Joining Mosler will be Arthur Mirante, another former Cushman CEO, and brokers Edward Weiss and Joseph Cabrera. The team will handle the exclusive leasing agencies for 3 Park Avenue, 805 Third Avenue, 3 East 54th Street and Grand Central Palza at 622 Third Avenue, according to a statement released today. Australian shopping center owner Glenn Rufrano will take over the reins as Cushman CEO, while Mosler is under a three-year contract to remain at the company as co-chairman, he told The Real Deal in his first interview after his successor was named. TRD [more]

Despite the recession, the practice of including major sculptures and
artwork to high-end New York City real estate projects has prevailed.
The Rockefellers started the trend of using pricey sculptures and
artwork to adorn prominent properties during the 20th century and the
practice has continued despite economic gloom. For example, in October,
Cohen Brothers Realty installed a $3,300 dollar, 5,000-pound sculpture
on the ceiling in the atrium of 805 Third Avenue. Silverstein
Properties included a Tom Otterness-designed playground sculpture in a
new park near to two of its apartment developments on West 42nd Street
which was priced in the seven-figure range. “Sculpture can also add a
human element. Often in New York, buildings are overscale; sculpture
can bring the scale down,” said Joel Straus, a corporate art consultant
in Chicago. [NYT]
[more]