Leasing brokers on one of the city’s “ugliest” buildings bring home REBNY’s Most Ingenious Deal award

CBRE’s Gregg Rothkin and Gerry Miovski earn top nods for leasing at 375 Pearl Street

TRD New York /
Apr.April 10, 2019 12:00 PM
CBRE’s Gregg Rothkin and Gerry Miovski (middle) at REBNY's annual cocktail party Tuesday evening.

CBRE’s Gregg Rothkin and Gerry Miovski (middle) at REBNY’s annual cocktail party Tuesday evening.

One of Manhattan’s ugliest buildings ended up being a real eye catcher for the city’s top brokers.

CBRE’s Gregg Rothkin and Gerry Miovski – leasing agents on the former Verizon building in the Financial District – took home the Real Estate Board of New York’s Most Ingenious Deal of the Year award for their work helping to transform the former eyesore.

375 Peal Street (Credit: Wikipedia)

375 Peal Street (Credit: Wikipedia)

The “brazen leasing duo” took home the Henry Hart Rice Achievement Award for their work with building owner Sabey Corporation to lease up 15 floors at 375 Pearl Street, Savills’ Woody Heller, co-chair of REBNY’s Sales Brokers Committee, announced at the group’s annual cocktail party Tuesday evening.

“Despite the failed attempts of prior owners and eight years of vacancy, our winners convinced their client to re-clad their section of the building, transforming it into a viable office space on the speculative premise that if it was built, someone might come,” Heller explained. “And come they did.”

Rothkin and Miovski first leased about 250,000 square feet to city agencies, a spread that eventually grew to 615,000 square feet. But they still had the challenge of leasing up the building’s penthouse floor, which the city couldn’t afford.

The CBRE brokers brought in Rafael Viñoly Architects, which took the penthouse space.

The Kaufman Organization’s Jeffrey Rosenblatt nabbed the second-place Robert T. Lawrence Memorial Award for his work leasing 51,000 square feet of Times Square space at 1601 Broadway to Open Jar Studios, which will use the space as one of the city’s largest rehearsal studios.

Colliers International’s Alan Desino brought home the third-place Edward S. Gordon Memorial Ward for his deal representing Evercore in an expansion to 300,000 square feet at Park Avenue Plaza.

For all the festivities, though, there was a bit of a dark cloud hanging over the night’s celebration.

REBNY’s awards committee received only six submissions for this year’s contest, none of which represented sales deals.

“In the countless number of years I’ve been doing this, I’ve never witnessed as low a number,” Heller said. “It’s a sad indication of what’s happened to transaction volume in recent years, particularly in the sales market.”


Related Articles

arrow_forward_ios
CBRE CEO Bob Sulentic; the firm has shifted its global HQ from LA to Dallas. (CBRE, Getty)

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market

“Sad day” in LA: CBRE’s corporate exit latest blow to dented office market
Columbia Property Trust CEO Nelson Mills and 245-249 West 17th Street (Photos via Columbia Property Trust; StreetEasy)

Columbia Property Trust collects 98% of its rent in Q3

Columbia Property Trust collects 98% of its rent in Q3
JLL CEO Christian Ulbrich and CBRE CEO Bob Sulentic (Getty; CBRE; Pixabay)

JLL, CBRE keep cutting as recovery drags

JLL, CBRE keep cutting as recovery drags
The Factory building at 30-30 47th Avenue with Square Mile Capital’s Craig Solomon and Invesco CEO Marty Flanagan (Photos via The Factory; Square Mile; Invesco)

Here’s what tenants are paying at the Factory in Long Island City

Here’s what tenants are paying at the Factory in Long Island City
Bob Sulentic (Getty, iStock)

CBRE income falls nearly 10%

CBRE income falls nearly 10%
From left: Paramount CEO Albert Behler, 1301 6th Avenue, 712 5th Avenue, 31 West 52nd Street (Getty; Google Maps)

Paramount Group back at work, but tenants waiting until 2021

Paramount Group back at work, but tenants waiting until 2021
Tony Malkin (Getty, iStock)

Empire State Realty Trust reports second consecutive quarterly loss

Empire State Realty Trust reports second consecutive quarterly loss
Michael Shvo and the Transamerica Building in San Francisco and  (Unsplash)

Shvo, Deutsche Finance close on Transamerica Pyramid for $650M

Shvo, Deutsche Finance close on Transamerica Pyramid for $650M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...