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

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
RXR Realty head Scott Rechler and CBRE Tri-State CEO Mary Ann Tighe
Rechler, Tighe know which real estate players will go extinct
Rechler, Tighe know which real estate players will go extinct
Alan Feldman, chief executive officer, president & chairman of the board, Resource REIT; Stephen Schwarzman, chairman, ceo & co-founder, Blackstone (Resource REIT, Getty Images, 1000 Spalding Apartment Homes)
Blackstone to pay $3.7B for REIT in latest rental push
Blackstone to pay $3.7B for REIT in latest rental push
360 Kingsland Avenue in Greenpoint, Brooklyn (Google)
Sitex Group pays $30M for Greenpoint industrial property
Sitex Group pays $30M for Greenpoint industrial property
(Getty)
Intel investment in new Ohio chip plant could reach $100B
Intel investment in new Ohio chip plant could reach $100B
In the days after Hong Kong circulated its latest virus measures this month, several shops, bars and eateries said they would close (Geology.com, iStock)
Hong Kong businesses struggle with fallout of city’s zero-Covid policy, supply chain woes
Hong Kong businesses struggle with fallout of city’s zero-Covid policy, supply chain woes
No Joke: Pete Davidson (left) and Colin Jost just purchased a Staten Island Ferry boat. (Getty)
Floating real estate: Colin Jost, Pete Davidson buy Staten Island Ferry boat
Floating real estate: Colin Jost, Pete Davidson buy Staten Island Ferry boat
Vicky Ward (CNN)
Vicky Ward breaks down New York State’s Trump investigation
Vicky Ward breaks down New York State’s Trump investigation
Lloyd's of London headquarters at Lime Street (Lloyd's of London/CC BY 2.5 - via Wikimedia Commons, iStock)
Lloyd’s of London may exit “Inside Out” home after three decades
Lloyd’s of London may exit “Inside Out” home after three decades
arrow_forward_ios

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

Loading...