Anthony Malkin, president of Malkin Holdings, said that he learned in the recent process of retrofitting his company’s Empire State Building that it’s not about the greening.

“I think we learned that in the end it’s not about the greening but about money and about returns,” Malkin said at last night’s YJP Real Estate Investment Summit 2011 (see photos above). “If you put a green waterfall in your lobby it’s not going to change the world but if you can provide a greater than 40 percent reduction in the use of energy and save your tenants money by being efficient that makes a difference.” — Marc Becker [more]

From left: Mark Lebow, Seymour Boyers, Howard Vargas, Paul Vallone and Marc Landis

Lawyers appointed by judges to be receivers of distressed properties typically earn 5 percent of the building’s revenue until the property changes hands. And according to the New York Times, New York City judges are increasingly selecting politically connected lawyers to earn that income. Mark Lebow, the husband of Mayor Michael Bloomberg’s aide Patricia Harris, was awarded receivership of 576 Fifth Avenue, and has earned $352,00 in fees, or $5,000 a week. Other notable receivers include Paul Vallone, of a powerful Queens political family, Howard Vargas, former commissioner of the Taxi and Limousine Commission and Marc Landis, a member of Attorney General Eric Scheiderman’s transition team. The father of former mayoral candidate William Thompson, Jr. was also chosen to steward six distressed properties, as was Dominick Calderoni, a law partner of State Senator Jeffrey Klein. [more]

Fannie Mae has been charged with neglecting to pay for basic repairs in three New York City rental buildings after moving to foreclose on the properties in March. The buildings — two of which are on the city’s list of worst-kept properties — have been rendered dilapidated and a Bronx judge has ordered Fannie Mae to respond to charges that it has allowed the buildings to remain structurally unsafe, with several city housing violations. Attorney Marc Landis, the court-appointed receiver who filed the charges, estimated that $324,475 will be needed to make the necessary repairs at the buildings, each purchased by real estate investment firm Ocelot Capital at the height of the housing boom. Fannie Mae, which purchased the mortgage from Deutsche Bank before the buildings were abandoned by Ocelot, will appear at a hearing Nov. 23 to answer the charges.