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Brokers Weekly, Featured »

[23 Jan 2015 | No Comment | ]
Most promising agent looking to be the best

By Holly Dutton
At just 26, Corcoran broker Antony Bitar is a rising star in NYC residential real estate, earning honors for his high volume of transactions and REBNY’s “Most Promising Salesperson of the Year” award, all in just under three years in the business.
Bitar, a native of Little Falls, NJ, came to real estate from a musical background, and recently moved to Corcoran from Coldwell Banker AC Lawrence in December.
“I got into it (real estate) thinking it was just something I’d do on the side,” said Bitar. “I didn’t realize …

Brokers Weekly, Featured »

[22 Jan 2015 | No Comment | ]
Brokers keep busy even when market is in hibernation

By Holly Dutton
If residential real estate were like football, consider this month pre-season training.
In an industry that’s always moving, residential real estate has historically had two times during the year that are considered “down” times — the thick of summer in August, and at the height of the holidays in December — those being the times when families are away at summer beach homes and enjoying holiday times with family, when buying or selling real estate is at the bottom of the priority list.
But that doesn’t mean brokers and agents …

Deals & Dealmakers, Headline »

[31 Dec 2014 | No Comment | ]
Japanese real estate giant pays $259M for stake in 55 Hudson Yards

By Holly Dutton
Japanese real estate giant Mitsui Fudosan plunked down $259 million for a stake in 55 Hudson Yards, Related’s forthcoming Far West Side office tower, according to city records filed today (Tuesday).
Documents show Mitsui Fudosan America, based in Tokyo, paid $258.8 million earlier this month for a stake in Related’s 1.3 million s/f tower that will rise at 11th Avenue between 33rd and 24th Street.
Designed by Kohn Pederson Fox, construction on 55 Hudson Yards is slated to begin this spring.
Mitsui Fudosan has more than $40 billion in international real …

Brokers Weekly, Featured »

[12 Dec 2014 | No Comment | ]
New York City brokers take luxury listings to Shanghai’s super rich

By Holly Dutton
With the explosion of Chinese buyers in the U.S. residential market, two TOWN brokers are jumping on the trend, attending a luxury property showcase in Shanghai.
According to research from the National Association of Realtors, China accounted for $12.8 billion of the $68.2 billion in foreign real estate transactions in the US last year.
So far this year, Chinese buyers have accounted for 24 percent of the market share, an increase from a 19 percent share last year.
The Asian nation is the second largest economy in the world and there …

Brokers Weekly, Featured »

[10 Dec 2014 | No Comment | ]
Choppy market is plain sailing for Rutenberg boss

By Holly Dutton
Rutenberg COO Michael Barbolla is working to make his firm even better.
Barbolla, who was recently promoted from general manager to COO, is leading a re-branding campaign for his company, including revamping its website.
A native of upstate New York, Barbolla attended the College of St. Rose in Albany, where he earned bachelors and masters degrees in communications and educational psychology. Following graduation, he moved to New York City in 2000.
While still upstate, he ran a foundation for people with learning disabilities called Wildwood Programs. He also worked at the …

Deals & Dealmakers, Featured »

[8 Dec 2014 | No Comment | ]
Brookfield leasing boss Ed Hogan pitching next big thing to retailers

By Holly Dutton
When the International Council of Shopping Centers convenes in New York next week, Broookfield Property national director of leasing Ed Hogan will be selling visitors the city’s future.
The veteran leasing broker is leading the drive to tenant the massive Manhattan West development with retailers.
And he says he has already seen a lot if interest for space in the area he believes will be the city’s next hot spot.
“I definitely think the far west side of Manhattan is going to be the new hot spot,” said Hogan. “It really …

Deals & Dealmakers, Featured »

[3 Dec 2014 | No Comment | ]
Moinian is shooting high with 5th Avenue retail wish list

By Holly Dutton

The Moinian Group is making a big push for its prime retail on Fifth Avenue, after a revitalizing and renovating the multi-level spaces.
In the midst of one of Manhattan’s busiest retail corridors, Moinian’s building at 535-545 Fifth Avenue has just finished a redesign by architectural firm Gensler and the company is marketing its multi-level retail spaces, looking for top retailers. “We’ve got a hit list of tenants we think are appropriate for the building and we know they’re looking on Fifth Avenue,” said Karen Bellantoni, who is part …

Deals & Dealmakers »

[1 Dec 2014 | No Comment | ]

By Holly Dutton
TerraCRG partner and senior vice president Adam Hess is cornering the market in Park Slope — and he’s just getting started.
In 2013, a year that saw total multi-family sales in New York City hit $7.5 billion, TerraCRG handled 40 percent of sales in Park Slope, said Hess.
“I looked at my team and thought, we’re really on to something here,” he said. “To be able to take a neighborhood like Park Slope that has such a high-profile and such competition and have that high of a market share, we …

Deals & Dealmakers, Featured »

[12 Nov 2014 | No Comment | ]
Housing, infrastructure top CRE agenda

By Holly Dutton
Housing and infrastructure topped a list of hot topics city real estate executives want Mayor Bill de Blasio to focus on.
Asked at last week’s Young Jewish Professionals Deal Makers Summit what they would talk to the mayor about, speakers were unanimous.
“There’s a real shortage of affordable housing. We can’t just have housing for very wealthy people,” said David Schonbraun, co-chief investment officer at SL Green Realty.
Schonbraun was joined on the panel by Brahm Cramer, from Alliance Bernstein, and Michael Lehrman, co-founder of CCRE.
The keynote panel was moderated by …

Retail »

[11 Nov 2014 | No Comment | ]
Retail space near High Line prime property for gallery owners

By Holly Dutton
A space is up for grabs right near the booming High Line in Chelsea – and leasing agents are hoping to bring in a big-name gallery.
Eastern Consolidated is exclusively marketing a 4,774 s/f corner retail space at 547 W. 20th Street, also known as 120 11th Avenue. The ground-floor space has 13-foot ceilings, exposed brick, and 965 s/f of storage space.
“The space is ideal for a gallery,” said Brad Cohen, senior director of retail leasing at Eastern Consolidated, who is marketing the space on behalf of the building …

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