The Real Deal New York

Posts Tagged ‘Cushman & Wakefield’

  • 062_ShiftingStrategies_FINAL.inddFrom the November issue: It’s easy to make money when the market is chugging along, but what strategies do real estate players employ when the market nears its peak?

    New York City developers and investors are now preparing for that day — and the days beyond that, when the landscape doesn’t look quite as rosy as it does right now.

    Strategies, of course, vary. [more]

  • Ray Kelly (credit: Wikimedia Commons)

    Ray Kelly (credit: Wikimedia Commons)

    Former New York Police Department Commissioner Ray Kelly is done with his brief stint in real estate.

    Kelly is leaving Cushman & Wakefield for K2 Intelligence, an investigative firm backed by American International Group. In his new role as vice chairman, he will advise governments and executives on infrastructure safety, enforcement and regulatory compliance, Crain’s reported. [more]

  • 1120 Avenue of the Americas and Bank Hapoalim CEO Zion Kenan

    1120 Sixth Avenue and Bank Hapoalim CEO Zion Kenan

    Israel’s biggest lender, Bank Hapoalim, is slashing its footprint in half on Sixth Avenue as it relocates from Silverstein Properties’ 1177 Sixth Avenue to 40,000 square feet, closer to Bryant Park. [more]

  • Cushman hit with round of layoffs

    October 30, 2015 01:00PM
    Cushman & Wakefield CEO Carlo Barel di Sant'Albano and global president Tod Lickerman

    Cushman & Wakefield CEO Carlo Barel di Sant’Albano and global president Tod Lickerman

    Cushman & Wakefield went through a round of layoffs Wednesday that hit the marketing and research departments in what appears to be fallout from the merger with Chicago-based DTZ earlier this year, according to multiple sources. [more]

  • 180

    180 Livingston Street in Downtown Brooklyn (inset: Joseph Sitt and Michael Schor)

    Joseph Sitt’s Thor Equities bought a six-story Downtown Brooklyn office building leased to the Metropolitan Transportation Authority and the Brooklyn Tabernacle Church for $136 million. [more]

  • Abraham Daniels

    From left: Abraham Daniels and 9 East 16th Street in Flatiron

    Great Neck-based A.D. Real Estate Investors added to its Manhattan portfolio with the purchase of a seven-story Flatiron rental building from Milan Associates.

    The 30,000-square-foot property at 9 East 16th Street contains 15 loft units, 12 of which are market rate, according to Cushman & Wakefield, which represented both sides in the deal.

    Milan bought the property in July 2012 for $15.3 million. [more]

  • From left: 3 Bryant Park and Salesforce CEO Marc Benioff

    From left: 3 Bryant Park and Salesforce CEO Marc Benioff

    With MetLife planning to consolidate its offices at its namesake building, Salesforce is looking to sublease 300,000 square feet of the insurance giant’s digs at 3 Bryant Park. [more]

  • Maria Sicola Kevin Thorpe

    From left: Maria Sicola and Kevin Thorpe

    Cushman & Wakefield is facing its second gender discrimination suit from a top female executive in two years after Maria Sicola, the brokerage’s former head of research for its Americas division, filed a $40 million lawsuit Tuesday.

    Sicola was fired Oct. 2, the day before her 60th birthday, after nearly 35 years with Cushman & Wakefield. She was replaced by Kevin Thorpe, 39, who previously served as chief economist for DTZ – the global brokerage that closed its $2 billion merger with Cushman & Wakefield last month. [more]

  • 590 Madison Avenue

    590 Madison Avenue in Midtown

    The State Teachers Retirement System of Ohio wants 590 Madison Avenue all to itself.

    The pension fund chose to refinance its mortgage on the former IBM building rather than selling a minority stake, securing a fixed-rate $650 million loan from Goldman Sachs Mortgage Co.

    Cushman & Wakefield represented STRS Ohio in the deal. [more]

  • Michael Rotchford Exec. Vice President Corporate Finance & Investment Banking Cushman and Wakefield Photo Cr.: Timothy Kuratek CBS ©2014 CBS Broadcasting Inc. All Rights Reserved

    Michael Rotchford (credit: REW)

    The head of Cushman & Wakefield’s investment banking practice is leaving the brokerage to open his own real estate investment fund.

    Michael Rotchford, who had been at Cushman & Wakefield for 15 years, seeks to raise $150 million for a new venture targeting office, industrial and residential properties. The fund is aiming to do deals nationally and make investments with risk and return profiles catering to corporate bond buyers. [more]

  • Brett White

    Brett White

    Brett White, the freshly-minted CEO of Cushman & Wakefield, has his work cut out for him.

    Analysts predict that Cushman, after a $2 billion merger with DTZ, is gearing up for an IPO, given a white-hot commercial property market driving share prices of competitors CBRE and JLL to record highs. But to get the company there, White will have to reduce debt, improve margins and boost revenues. [more]

  • Helen Hwang Cushman

    From left: Helen Hwang, Meridian Capital Group’s Ralph Herzka and Cushman & Wakefield’s Bob Knakal

    Helen Hwang, a top broker at Cushman & Wakefield, is the latest to join Meridian Capital Group’s new investment sales division, The Real Deal has learned. [more]

  • 911

    UPDATED, Sept. 15, 2:55 p.m.: Fourteen years ago today, the terrorist attacks of Sept. 11 marked one of the deadliest and most traumatic days in U.S. history. A human tragedy above all, they also hit Lower Manhattan’s economy, ushering in an exodus of office tenants that took a decade to reverse.

    In recent years, Lower Manhattan’s office market has regained its momentum amid rising rents and the opening of high-profile skyscrapers like One World Trade Center. But a look at the numbers shows the neighborhood still has a ways to go in its recovery. [more]

  • wadsworth

    206-212 Wadsworth Avenue in Washington Heights

    Leo Tsimmer’s Caerus Group is in late-stage talks with an unidentified university to build a 105,000-square-foot Washington Heights building with 150 rooms of student housing, The Real Deal has learned.

    Caerus bought the Wadsworth Avenue Baptist Church at 206-212 Wadsworth Avenue, near West 184th Street, this week after acquiring air rights in February, according sources familiar with the deal. [more]

  • asdfasdf

    From left: Jeffrey Donnelly and Ulrike Ahrens

    The mega-merger between Cushman & Wakefield and DTZ, which created one of the world’s largest commercial brokerages, is not all peaches and cream. Two DTZ executives have left the company to join Colliers International, just a week after the merger was finalized. [more]

  • Nat Rockett

    Nat Rockett

    One of the top brokers on the small investment-sales team Cushman & Wakefield had before its acquisition of market-powerhouse Massey Knakal is moving on.

    Nat Rockett, co-head of Cushman’s New York Investment Team, is joining Marcus & Millichap, effective Tuesday.

    Rockett, who started his career at Massey Knakal, was a member of the small team doing investment sales at Cushman, which ranked 12th last year on The Real Deal’s list of top i-sales firms with $875 million in deals.

    Massey Knakal, by comparison, ranked third behind Eastdil Secured and CBRE with $3.8 billion in transactions. [more]

  • Brett White’s war on CBRE

    September 02, 2015 01:25PM

    Brett White

    From the September issue: It didn’t take Brett White long. As soon as his non-compete clause expired last March, CBRE’s former CEO publicly took on his former employer about as aggressively as one could imagine.

    Within weeks of ascending to a new role as the head of the Chicago-based global real estate giant DTZ, White announced a $2 billion deal to acquire CBRE’s top New York rival, Cushman & Wakefield. The deal closed Tuesday.

    The Cushman & Wakefield head also touted his intention to put heat on his former firm and on the industry’s global No. 2, JLL.[more]

  • DTZ, CushWake complete merger

    September 02, 2015 08:33AM
    Hennessy-Lo-Russo-White copy

    From left: Todd Lickerman and Brett White

    Four months after DTZ’s acquisition of Cushman & Wakefield was announced, the merger is complete.

    The new company, dubbed Cushman & Wakefield, operates in the top ranks of global commercial real estate, with 250 offices in 60 countries, $5 billion in annual revenue, 43,000 employees and more than 4.3 billion square feet under management worldwide. [more]

  • 100 Luquer Street Brooklyn

    100 Luquer Street in Carroll Gardens (inset: Stephen Palmese)

    Winnie Law’s Sun Wansam Realty Corp. picked up a Carroll Gardens condo-to-rental conversion for $21.1 million, in a rare multifamily sale of an elevator building in the Brooklyn neighborhood, The Real Deal has learned. [more]

  • "The Robyn" at 316-318 East Third Street

    “The Robyn” at 316-318 East Third Street in the East Village

    Having a living room-laden building in the East Village is a huge disadvantage, as the owners of an eight-story 33-unit rental tower are discovering.