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Volume 25 ■ Issue 06
Green Buildings
Project of the Month / GB / PAGES 9-11 Special Insert
SWBR Architects’ MCC Gleason Hall project receives LEED Gold certification
special insert
Green Buildings
Special Insert
Section
New York Real
Estate
Journal Alfa Developm March 2013 Project targetedent tops out Chelsea Green; for LEED Gold certification
NEW YORK, NY
Alfa Development’s minium in its newest condoGreen Collection opments, Chelsea of Green, has toppedsustainable develavailable units, out penthouse. This including the building’s and sold all four-bedroom building’s launch caps off a sales campaign Green is expected in mid-2012. Occupancy since the at Chelsea later this year. “Alfa Development’s commitment able design, to sleek, sustaincombined with sea location, created a rare the building’s prime Cheland the response opportunity has been exceptional,”for our buyers Shown (from Namer, CEO left) are: Gary and founder of said Michael Management; Spindler, Park-It what we have Alfa. “We’re Matthew Namer, very accomplished VP taking the best and are looking proud of Alfa; John Hauer; Michael Namer, of development, of everything forward to Green and continuing we’ve learned founder & CEO and Alfa; to build our Green at Chelsea sea Green Jake Namer, executive 245 West 14th VP, Alfa. was envisioned Collection at St., tion on another where we will soon begin as a sanctuary with the building’s for renewal, construceco-luxury condo amenities focused LEED Gold project targeting healthy living, including certification.” on the concept its Wellness Center of Chelsea Green’s of a lounge, fitness comprised room, spa to three bedrooms 51 residences will be a mix of one room, and a rooftop lounge. with sauna and treatment penthouse featuring layouts, with one Marking its first four-bedroom collaboration a private roof by the architects with a residential terrace. Designed ing, each residence of Stephen B. features The buildPoggenpohl, Jacobs Group, designed by Eric Eric Ripert Kitchen by Chel- er of Ripert, the chef the Michelin-starred and ownLe Bernardin. Chelsea Green’s Adhering to LEED Gold kitchen will combine certification target, each sustainability gonomics; with the highest quality with design and erances and water-conserving eco-friendly applifaucets designed by Grohe. The station at the Russo joins Greenberg vehicle charging Solaire is one of the first of 80 electric stations Traurig of New York NYSERDA invested being installed by ChargePoint. environmental as chair $1 million into the program. practice NEW YORK, SEE PAGE 12 NY sioner and general The deputy commisYork State Dept. counsel to the New of Environmental Mark Bourbeau servation (NYSDEC), Con.............................................. Green Building Steven will be joining ............................ Experts .............................................. the international Russo, Steven 2 Greenberg Traurig law firm .............3-8 Russo York environmental as chair of the New practice. fice of general Russo supervised the NYSDEC’s ofdepartment and counsel, as well as the legislative facebook.com/nyrej office of environmental affairs pleted the revision justice. He comof new environmental forms under twitter.com/nyrej the assessment Printed on recycled Act (SEQRA), State Environmental Quality paper launched Review the current ongoing streamlining effort SEQRA tal audit policy. and preparation of a new environmen-
Kristy Leibowitz
nyrej.com
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March 26-April 8, 2013
Digital Edition nyrej.com Quick Read
ChargePoint launches station at Albanese’s charging Solaire
Also Inside 20 Pages
This Week’s Sections ROP, New York City, Connecticut, Billboard
Cover Stories
Meridian Capital and Pi Capital Partners execute $36m in financing NY / cover A
Company of the Month NYC / PAGEs 14-15B
Rapid Realty NYC redefines what it means to be a real estate brokerage company
Executive of the Month NYC / PAGE 5B
Jacob Frydman, chairman and CEO of United Realty Partners, started his career at age 14
CBRE brokers 130,000 s/f lease to Liberty Mutual at 55 Water St. NYC / cover B
Features
NYC Finance Expo 2013 SPECIAL INSERT
04.04.2013 New York City Bar Building | Great Hall | 8:00am-5:00pm
4 Forums • 40 Speakers • 40 Exhibitors • 1,200+ Attendees
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Follow the show @NYCFE For live updates #NYCFE
New York City Financial NYC / PAGES 18-25B New York City Retail NYC / PAGES 26-33B
Columnist
C. Jaye Berger, Esq. Attorney NY / PAGE 2A
New York City
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Quick Read Hakimian and Esh of HPNY handle $56.5m sale to Toll Brothers
Section B
CBRE brokers 130,000 s/f lease to Liberty Mutual at 55 Water St. Mutual Insurance has signed a 10-year lease with New Water Street Corp., the owner
Brad Gerla
Featuring March Contributing Authors
James Wacht, Lee & Associates See page 8B
Matt Schnurr, Transwester See page 9B
36 Pages Executive of the Month ...............5 Company of the Month......... 14-15 Professional Profiles................. 17 New York City Finance ........ 18-25 New York City Retail ............... 26-33
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March 26 - April 8, 2013
gerla, tighe, fiddle and haskel rep. tenant and new water st. corp.
NEW YORK, NY Liberty
See page 2B
New York Real Estate Journal
Mary Ann Tighe
and manager of 55 Water St. At 54 stories and 3.8 million s/f, 55 Water St. is one of NYC’s largest office buildings and the second largest privately owned office building in the country. This lease agreement between Liberty Mutual and 55 Water St. was negotiated by CBRE Group Inc., who represented the owner, and Cresa, who represented the tenant and was one of the city’s first major downtown leases in one of the areas hardest hit by Hurricane Sandy. The deal, which includes 130,000 s/f of commercial real estate on two floors, doubles Liberty Mutual’s footprint at 55 Water St., demonstrating the company’s commitment to the building as well as the downtown community. The transaction is another sign of the success that landlords of Sandy-stricken downtown buildings are having in convincing tenants to
renew and in some cases even expand their offices. The CBRE team representing 55 Water St. includes Mary Ann Tighe, CEO; Brad Gerla, executive vice president; Howard Fiddle, vice chairman; and Evan Haskel, vice Howard Fiddle president. Owner and manager New Water Street Corp. invested close to $200 million in repairs and storm-proofing measures to prevent damage from future storms following Hurricane Sandy. “We’ve invited tenants to see what we’re planning and the work we’re doing so they can be assured,” said Harry Bridgwood, an executive at New Water Street Corp. who led 55 Water St.’s restoration team. The work, which he said included the relocation of critical infrastructure and electrical systems to building’s third floor, has eased any lingering concerns about the property’s vulnerability to future storms. 55 Water St. is owned by the Retirement Systems of Alabama and managed by the New Water Street Corp. •for full story visit nyrej.com•
Swig Equities, LLC completes 11 leases totaling 144,000 s/f in Financial District NEW YORK, NY According to Kent Swig, president of Swig Equities, LLC, the firm has completed 11 leasing transactions in its Financial District commercial office portfolio in 2012, totaling over 144,000 s/f. “These leases demonstrate the overwhelming support that our properties have in the FiDi office market. Our existing and new tenants continue to demonstrate confidence in our buildings, as evidenced by these lease renewals, expansions and new leases. We appreciate the brokerage community’s continued support and assistance in many of these transactions, and look
forward to working together on future deals,” said Swig. Leases were completed at 48 Wall St. and 110 William St. In addition, the Swig portfolio includes ownership interests in 80 Broad St., 90 Broad St., 44 Wall St., and 5 Hanover Sq. “There is high demand for our properties and the outstanding commercial amenities and services each of them offers. Our portfolio is very attractive to tenants seeking an office building in a prime business location with strong, experienced management,” said Jonathan Dean, seniorVP, director of commercial leasing for Swig.
55 Water Street - New York, NY
Jungreis, Kooris and Scheer of Rosewood Realty Group handle two sales- $5.365m Brooklyn, NY Rosewood Realty Group has closed a $4.015 million sale at 60 East 196th St. in the Ford-
buyer, the Morgan Group, investment group. In Brooklyn, Rosewood closed the sale of 827 Nostrand Ave. in Crown Heights for $1.35 million. The 7,165 s/f four-story walkup apartment building features David Scheer Samuel Kooris Aaron Jungreis 10 apartments ham Manor section of the Bronx. and one commercial unit. The The 62,548 s/f five-story walk-up building was built in 1912 and sold apartment building built in 1924, for 9.5 times the rent roll. consists of 46 apartments. It sold Rosewood’s Samuel Kooris reprefor seven times the rent roll. sented the seller, 827 Nostrand LLC Aaron Jungreis of Rosewood and Rosewood’s David Scheer repRealty Group represented both the resented the buyer, a local family seller, 60 East 196 LLC and the investor, Barry Nathan III LLC.
The Orbach Group acquires 210, 220 and 230 West 107th St. for $70 million from Dermot Company New York, NY The Orbach Group has
acquired a three-building NYC apartment portfolio, totaling 178 rental units, for $70 million, from Dermot Company. With these acquisitions, The Orbach Group now owns and manages 700 units in just a threeblock radius on Manhattan’s Upper West Side, with plans to acquire additional properties. The three newly acquired Upper
West Side apartment buildings–210, 220, and 230 West 107th St.–are located between Amsterdam Ave. and Broadway, and include a mix of 1-bedroom, 2-bedroom, and 3-bedroom units. “Manhattan’s Upper West Side is a vibrant community with high-quality, well-located rental units at a premium,” said Meyer Orbach, president of The Orbach Group.