NYC real estate in brief

Jan.January 16, 2009 03:12 PM

REIT CEOs see equity holdings cut in half
A recently released study by Steven Hall & Partners and Equinox
Partners found that the value of equity holdings among CEOs of real
estate investment trusts, or REITs, has been cut in half as stock
prices have fallen. CEOs at 159 public REITs began 2008 with $12.1
billion in equity value, the study says, but lost $5.6 billion at the end of the year. Stock price performance for those companies fell a median of 46
percent over the same time.

Coffee shop signs at 514 Columbus Avenue
Robert K. Futterman
& Associates recently leased 525 square feet at 514 Columbus
Avenue, between 84th and 85th streets, to Joe the Art of Coffee. The
retailer is expected to open in the spring. The coffee shop has four
other locations in the city, Including 141 Waverly Place, 8 East 13th
Street, 405 West 23rd Street and Grand Central Terminal.

Brooklyn Chamber of Commerce president responds to Bloomberg’s address
response to Mayor Michael Bloomberg’s state of the city address
yesterday, Carl Hum, Brooklyn Chamber of Commerce president and CEO,
said he was glad the mayor made his address in Brooklyn. Hum said the
mayor’s “commitment to invest in public infrastructure projects is
particularly important to Brooklyn as private construction cools in the
borough.” Hum said he encourages the mayor to look in neighborhoods
like Red Hook, where many sites need public investment. TRD

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