Rolex store at 665 Fifth Avenue, a prime retail area
Average asking rents in some New York City retail corridors have shot up by as much as 75 percent year-over-year, according to a market report released today by the Real Estate Board of New York. But overall asking rents for ground-floor retail space in Manhattan are down slightly from last year at this time. [more]
Cushman & Wakefield’s Tara Stacom, her sister Darcy Stacom of CBRE Group, and Mary Ann Tighe, also of CBRE, all took home top honors last night at the Real Estate Board of New York’s Most Ingenious Deal of the Year awards. Check out photos from the event and more after the jump. [more]
From left: CBRE's Paul Gillen, Darcy Stacom and William Shanahan; Cushman & Wakefield's Tara Stacom and Michael Rotchford; the evening's announcer Woody Heller of Studley; CBRE's Mary Ann Tighe and Gregory Tosko (credit: Marc Becker)
It was indisputably a ladies night at the Real Estate Board of New York’s Most Ingenious Deal of the Year awards held last night at the 101 Club at 101 Park Avenue. Cushman & Wakefield’s Tara Stacom, her sister Darcy Stacom of CBRE Group and Mary Ann Tighe, also of CBRE, all took home top honors for deals completed last year.
It was also the first time two awards had been given for the same deal: The first place Henry Hart Rice Award was presented to Tara and her Cushman colleague Michael Rotchford for brokering Conde Nast’s $2 billion, one million-square-foot lease at 1 World Trade Center on behalf of the Port Authority of New York & New Jersey, while Tighe and CBRE colleague Gregory Tosko received the second place Robert T. Lawrence Award for representing the publisher in the same deal, which closed last May. [more]
From left: City Council member Leroy Comrie, who chairs the City Council's land use committee, Landmarks Preservation Commission Chairman Robert Tierney and Simeon Bankoff of the Historic Districts Council
The New York City Council is set to review a package of 10 bills relating to the workings of the Landmarks Preservation Commission tomorrow morning, according to the council’s website, some of which have garnered significant support from the Real Estate Board of New York but elicited concern from preservation groups. [more]
From left: Leonard Litwin and Liberty Plaza
The Real Estate Board of New York has named Leonard Litwin, president and CEO of Glenwood Management, REBNY’s first-ever lifetime honorary chairman, according to a news release issued today by REBNY.
“He’s worked over the years tirelessly for the benefit of the industry, working both with REBNY and rent-stabilization organizations,” Gary Jacob, an executive vice president at Glenwood, told The Real Deal. “This was an effort by Steven Spinola and REBNY to recognize the contribution he’s made to the city and the real estate industry. He’s very pleased that they’ve done so,” Jacob said of Litwin. Jacob said Litwin wasn’t available to comment. [more]
From left: City Council Speaker Christine Quinn and REBNY's Steven Spinola
The contentious living wage bill, which the Hudson Yards is exempt from, will likely not affect more than 500 workers total in its current form, the New York Times reported. City Council Speaker Christine Quinn announced that she was done revising the measure this week, and figures from her office show the total number of workers affected — meaning they will have to be paid $10 per hour and receive benefits, or $11.50 per hour without — between 400 and 500. [more]
Steven Spinola, president of REBNY, and a crane site
There’s now a split between the Real Estate Board of New York and the Building Trades Employers’ Association over their work in trying to change union control of licensing for crane operations, Crain’s reported.
According to a REBNY memo sent to some members yesterday, the organization was “surprised to learn” that BTEA would not show public opposition to efforts made by International Union of Operating Engineers Local 14 and the Building and Construction Trades Council to modify a Department of Buildings crane work licensing proposal. [more]
Michael Wolfe, president of Midboro Management
Michael Wolfe, president of Midboro Management, has been named residential management executive of the year by the Real Estate Board of New York, REBNY announced today, for his “excellence in residential management, his longevity in the field and his commitment to the residential management community.”
Midboro, a Manhattan-based full-service property management firm and brokerage, manages more than 90 luxury co-op, condominium, rental and commercial properties, REBNY said, including the Jade condominium at 16 West 19th Street and the Onyx building at 261 West 28th Street. [more]
From left: Christopher Schlank and Nicholas Bienstock of Savanna, David Von Spreckelsen of Toll Brothers, Drew Anderman of Walker & Dunlop and Shimon Shkury of Ariel Property Advisors
From the February issue: Membership at the industry’s leading trade group, the Real Estate Board of New York, is at an all-time high, but outside of public view there is a constant turnover of its ranks.
This month, The Real Deal did a first-ever analysis of REBNY membership, comparing the Class of 2012 to the Class of 2011 to see who joined — and who dropped out — this year. [more]
Mary Ann Tighe and Mayor Michael BloombergFrom the February issue: Hollywood is gearing up for the Academy Awards this month, but the New York City real estate industry has its own glamorous red-carpet event. Some 2,200 industry stars attended the Real Estate Board of New York’s 116th Annual Banquet at the New York Hilton last month. The crowd included real estate royalty like REBNY Chairman Mary Ann Tighe and developer Douglas Durst, along with politicos Mayor Michael Bloomberg, Attorney General Eric Schneiderman and City Council Speaker Christine Quinn. [more]
