A group of developers has formed an unlikely alliance with labor and construction unions in an effort to expand the Bloomberg Administration’s proposed rules for allowing taller structures in Midtown East, the New York Times reported. More specifically, they want more skyscraper properties developed on a greater number of sites at a faster pace and with lower cost. Members of the group include Real Estate Board of New York officials, the New York Building Congress, the Manhattan Chamber of Commerce, Local 32BJ Service Employees International Union and the Building and Construction Trades Council of New York. [more]
Posts Tagged ‘rob speyer’
Tishman Speyer President and co-CEO Rob Speyer has been appointed the next chairman of the Real Estate Board of New York. He will succeed CBRE Group Tri-State CEO Mary Ann Tighe beginning in January 2013, the organization announced today.
Speyer is the third consecutive generation of his family to hold REBNY’s top post. His father, Jerry Speyer, was chairman from 1986 to 1988 and his grandfather, Robert Tishman, possessed the title the role from 1972 to 1975. It marks the first time in the organization’s 117-year history that a third succeeding generation served as chair and, at 43 years old, Rob will be the youngest REBNY chairman ever. [more]
A political-lobbying group founded by real estate developers and business executives closely allied with Governor Andrew Cuomo received a total of $2 million from a gambling interest group last December, the New York Times reported. The group, the Committee to Save New York, is led by REBNY President Steven Spinola and Tishman Speyer President Rob Speyer, and received the money as Cuomo worked on a proposal to expand casino gambling in New York. [more]
An advocacy group largely supported by the city’s real estate industry raised more than $12 million for Governor Andrew Cuomo, and $17 million overall, in 2011, its first full year of operations. A review of the Committee to Save New York’s finances conducted by the New York Times found more than two-thirds of the $17 million to have come from donors giving $250,000 or more, and three donors combined to give $6.25 million. By donating to the advocacy group, which has funded television and radio ads in support of Cuomo, these wealthy contributors can bypass the $60,800 state limit on direct donations to candidates. [more]
From left: Governor Andrew Cuomo, Real Estate Board of New York President Steve Spinola and Tishman Speyer President Rob SpeyerDuring the quiet month of December in an off-election year, a political lobbying group led by REBNY President Steve Spinola and Tishman Speyer President Rob Speyer has spent $2.8 million praising Governor Andrew Cuomo in television ads, the Wall Street Journal reported.
The ads, approved by the three-person executive team of the Committee to Save New York (the third member is Kathryn Wylde, president of the Partnership for New York City), claim that despite challenges Cuomo is “getting things done,” including creating a solid jobs plan and lowering taxes…. [more]
The Real Estate Board of New York’s annual banquet — the most high-profile event of the year for the industry — last night was marred by the shouts of protesters.
A group of about 30 people inside the New York Hilton, where the glitzy event was being held, chanted: “Hey you millionaires, pay your fair share!”
Before being escorted off the property by hotel staff, the protesters handed out fliers stating their opposition to the Committee to Save New York, a group of business leaders formed in support of Gov. Andrew Cuomo’s campaign to oppose tax increases, reduce the size of government and reform Medicaid and pensions for public employees. Donors to the committee include a number of prominent real estate figures, including Tishman Speyer Properties and the Durst Organization. Tishman Speyer’s Rob Speyer is the co-chair of the committee’s board of directors, which also includes REBNY President Steven Spinola and REBNY Chairman Mary Ann Tighe. Tighe, Spinola, Rob Speyer and Douglas Durst all attended the banquet. … [more]
Some of the top 100, from left: Stephen Ross, Marc Holliday, Andrew Mathias, Mort Zuckerman, Dolly Lenz
The New York Observer has released its list of the 100 most powerful people in New York City real estate, with Stephen Ross, chairman of Related Companies, ousting last year’s number one ranked player, President Barack Obama from the top spot. The list is populated with many long-time real estate bigwigs. SL Green honchos Marc Holliday and Andrew Mathias jointly took the second place title, up from last year’s showing at number seven, while Boston Properties CEO Mort Zuckerman stayed in the third place position. … [more]
Gramercy Capital, a Stuyvesant Town and Peter Cooper Village creditor, is pushing to remove Tishman Speyer Properties from its position as manager of the 80-acre property, which it bought with BlackRock Realty in 2006. Tishman and BlackRock had missed a $16.1 million debt payment earlier this month, which may have spurred Gramercy Capital to push for the replacement. The removal of Tishman as property manager would need to first be approved by CW Capital, special servicer for the senior portion of the debt. City Council member Daniel Garodnick said that any decision to change managers should take the comfort of the residents into account first. “If there is a change in management, we will want it to be seamless, without any disruption to tenants or reduction in service,” Garodnick said.
Tishman Speyer and BlackRock, the owners of Stuyvesant Town and Peter Cooper Village, will not make today’s scheduled $16 million mortgage payment to senior lenders for the East Side apartment complex, the companies have confirmed in a statement.
Reports surfaced this morning that a technical default on the loan was imminent, though the news was hardly surprising to the city’s real estate community, which has been closely watching the beleaguered property in recent months. In November, Tishman Speyer and BlackRock entered negotiations with special servicer CWCapital to restructure $3 billion in debt for Stuyvesant Town, and speculation abounded that its reserves could be depleted before the close of 2009.
The partners purchased the 110-building complex in 2006 for $5.4 billion; the most recent appraisal valued it at just $1.9 billion.
“Today’s announcement has no immediate impact on tenant services or the day-to-day operations of the community,” the companies said in the statement. Furthermore, the statement said, “the debt for Stuyvesant and Peter Cooper Village is secured exclusively by the property and is not cross-collateralized with any others. It does not impact, nor is it impacted by, any other properties in which Tishman Speyer or BlackRock may be invested.” TRD
After months of controversy surrounding Stuyvesant Town and Peter Cooper Village, embattled group Tishman Speyer Properties is finally getting some good news. Over 1.05 million square feet of Tishman-owned space was leased in December, the Post’s Lois Weiss noted today, and on the heels of yesterday’s news that CB Richard Ellis had renewed its 125,000-square-foot lease at the firm’s MetLife Building, more lease signings are making news. Simon & Schuster has reportedly signed a deal to extend its lease for five more years at Tishman’s 1230 Sixth Avenue, while Michael Kors has extended his lease for 15 more years at 11 West 42nd Street. Although Robert Speyer, president of Tishman, wouldn’t comment on the tenants for Weiss’ report, he did say that he believes “rents are back to 2005 [levels].”