By Robert Knakal

From the Opinion section:

Q. What will be the best performing property type in the Manhattan investment sales market in 2011?

A. Interestingly, we just held our first quarter 2011 press conference yesterday to review investment sales market results thus far in 2011, which were better than anticipated. One of the things we discussed was that we expect retail properties in Manhattan to do extraordinarily well in 2011. Read more...

By Daniel Geiger

Since leaving Mayor Bloomberg’s administration last summer, Bob Lieber has stepped from government to the front lines of the real estate downturn. Speaking at a breakfast yesterday in Lower Manhattan hosted by New York Law School’s Center for Real Estate Studies, Lieber discussed how Island Capital Group, the real estate investment firm he joined after working as the deputy mayor of economic development for two years, has positioned itself to take advantage of the wave of distress he still expects will hit the market. Read more...

By Daniel Geiger

After getting sucked into the eye of one of Manhattan’s most memorable meltdowns, William Macklowe said he would use conservative leverage levels and target smaller office buildings in his recently launched real estate investment company. The company acquired 636 Sixth Avenue in partnership with the institutional money manager ING Clarion in January for $45.2 million. Macklowe said that the purchase is a template for the types of transactions he was looking to do with his new venture. Read more...

By Roland Li

RREEF, the real estate arm of Deutsche Bank, has purchased a retail condo at 473-475 Broadway for $42.9 million, according to city records. The seller was Manhattan-based Premier Equities. The ground-floor retail space spans over 9,000 s/f among two buildings, as well as an 8,000 s/f basement storage space, said a Carol Hensley, director of real estate management at Premier Equities. Scoop NYC, an apparel retailer, has a long-term lease. Read more...

By Roland Li

Israel-based Harel Insurance Company, Ltd. has purchased a commercial condo at 254 Park Avenue South for $15.97 million, according to city records. The property is the ground floor retail space in the building, which is occupied by Duane Reade. Gaia Real Estate will manage the property, according to a spokesman for Gaia. Harel Insurance is a subsidiary of the Harel Group, one of Israel’s largest public companies on the Tel Aviv Stock Exchange, and the third largest insurance group in Israel. Read more...

By Roland Li

For Andrew Ackerman, there’s no place like home. “I always had a passion for New York City,” said Ackerman, who grew up just north of the city, in Mamaroneck, N.Y. As a leasing associate at Vornado Realty Trust, he has been a significant force in moving tenants into the company’s New York office portfolio of over 22 million s/f. While at the REIT, Ackerman has been involved in 80 leases, totaling roughly 700,000 s/f. Read more...