ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS the Sky’s the Limit

to Celebrate Top Real Estate WE BELIEVE Pros at Annual Banquet THE CLIENT

GIVES EVERY INVESTMENT PURPOSE. his past year was an exciting one for New York EVERY PROPERTY A SOUL. EVERY TRANSACTION A PULSE. City real estate. The NYC residential sales market

hit a record high, with the value of all completed Real estate is a powerful asset. It helps define the business of a company. home sales transactions reaching $13.6 billion in The spirit of a startup. The values of an investor. We’re 43,000 employees the third quarter of 2016, according to the 2016 in over 60 countries, helping our clients put ideas into action in Statistical Abstract published by the Real Estate Board of New York and around the world. Across industries. Within budgets. T(REBNY). The average sales price for a home in the third quarter And without fail. What can we do for you? cushmanwakefield.com/action was $1,018,000. And the action was not confined to ; both and Staten Island saw a significant increase in sales Member activity, and and also posted gains.

There were some bumps. Manhattan retail leasing saw an adjustment after record asking rents in 2015, and investment sales settled in New York City in the first half of 2016, following accelerated activity in the first half of 2015. Broker confidence in the current market and the market six months from now has dipped, according to REBNY’s Broker Confidence Index, conducted after the third quarter of 2016.

Nonetheless, New York City’s real estate contributed $20.4 billion to locally generated tax revenue in the city in 2016, up 24.4% from fiscal 2013 to fiscal 2016.

Sparking all of the activity are the city’s real estate professionals. On Jan. 19, at its 121st Annual Banquet, REBNY will present seven awards to the movers and shakers who have had a powerful impact on the city’s real estate and are shaping the future of New York. For more insight to REBNY and the winners of the awards, read on. IDEAS INTO ACTION S1

Untitled-5 1 1/3/17 4:02 PM CN018143.indd 1 1/6/17 6:43 PM 1/6/17 6:30 PM 12/30/16 11:08 AM SOLID TO THE CORE THE SOLID TO COMMERCIAL | RESIDENTIAL | FINANCE | RETAIL NEW YORK CITY’S LARGEST OWNER OF COMMERCIAL REAL ESTATE CN018137.indd 1 SLG-2370 SL Green REBNY Corporate Ad-2017_Crains_10.875x14.5_V2.indd 1 S4 S1 S7 S3 S3 S9 S11 S11 S17 S15 S12 S31 S19 S41 S37 S25 S22 S35 S23 S28 S29 S36 S6, S20 S6, S13 – S14 S13 ...... MacQuesten ...... Realty MRP ...... SPS NYU ...... International Princeton ...... Group Rockefeller LLP SAX Sebastian Capital Sebastian Advertiser Page ...... Green SL Table of Contents ...... Introduction ...... Advertisers Index of ...... Publisher from Letter ...... in Review Year The Financing...... Creative ...... Education Continuing ...... Profile Holliday Marc ...... Profile Carl Weisbrod ...... Profile Bill Dacunto ...... MaryAnne Gilmartin Profile ...... Profile Riguardi Peter ...... Profile Ornstein Lindsay ...... Profile Jed Walentas ...... Building Technology ...... Sustainability ...... Snapshot REBNY S5 S8 S21 S16 S18 S24 S38 S40 ...... Emerge 212 ...... Emerge ...... Feil ...... Fisher Brothers Handler...... & Sons Jack Resnick ...... Kamber Durst ...... Consolidated Eastern Advertiser Page ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS NEW TO CRAIN’S SUPPLEMENT ADVERTISING S2 S30 S10 S27 S32 S33 S26 S34

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S3 Avison Young (1501 #1)...... (1501 Broadway Young Avison #2)...... (1501 Broadway Young Avison #3)...... (1501 Broadway Young Avison ...... (Corporate) Young Avison National Bank...... City ...... Cushman & Wakefield Elliman...... Douglas Argo Kaplan Jill R. and Publisher President Vice Business York New Crain’s

We are honored to partner with the Real Estate Board of New York (REBNY) York New of Board Estate with the Real partner to honored are We and the individuals within it who the industry of the contributions celebrate to learn you’ll pages, In the coming York. on New impact had a profound have rec- being publicly who are leaders finest the industry’s of some about more them for congratulate We Annual Banquet. 121st 19 at REBNY’s Jan. ognized achievements. their remarkable Thanks to the dedication and commitment of the real estate professionals professionals estate the real of and commitment the dedication to Thanks and evolve grow, to continue our neighborhoods boroughs, five the throughout play. yes, and, and work live to Yorkers New for opportunities new – creating thrive New York’s Real Estate Community New York’s Real — stories These is a unique story. buildings majestic York’s New of Behind each the city’s to — contribute and deal-making innovation creativity, architectural of the world. around from visitors for a lure that are communities uniquely vibrant a building of in front in awe stand as they tourists the sight of by struck I’m often and appreciate stop us to all of to — an important reminder while taking photos meeting. our next rushing to before city our incredible of the grandeur Celebrating the Power of Celebrating the Advertiser Page Index of Advertisers Sky’s the Limit Timeless Design. TWO WORK IN MONTHS Timeless Location. FREE* BY MENTIONING THIS AD Time for You. Expires 02/28/17 STYLE An2icon2of2mid-century2modern2architecture, 12712Avenue2of2the2Americas2has2always2used2design to2inspire2and2elevate2the2workday.2An2extensive2top-to- bottom2renovation2will2dramatically2improve2views2and2 light2with2a2new2exterior2façade,2revive2the2plaza,2and2 reimagine2the2lobby’s2bold2design.2 FULLY FURNISHED www.1271AoA.com

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Sky’s the Limit Thank You. starting to level off, which is resulting in more The fact that financing became more difficult, BRANDED CONCEPT DEVELOP- GLEN EQUITIES LTD NEWMARK GRUBB KNIGHT FRANK REBNY Recap: MENT deals being made,” said Romer. “Sellers are as well, contributed to a decline in the condo We are grateful to the Alan Schwartz Jordan Brustein James Race Matthew Leon realizing that there is room for negotiations. market, as well—particularly on the “uber- The Year in Review New York brokerage Alexandra Turboff GOCHMAN GROUP Buyers are realizing that, as well. It’s giving luxury” end, Mermelstein said. community for your Mike Gochman OLMSTEAD PROPERTIES iven the hotly contested presidential the buyers more leverage than they’ve CAPSTONE REALTY ADVISORS, Steven Marvin INC. JLL election in November, 2016 was an had in the past. And given the number of “At the same time, when November came support in helping us Matthew Kurzban Robert Ageloff RKF eventful one for the country. The newly developed condos on the market, we about and there was concrete word on the lease over 900,000 SF Christian Allen Michael Pastor Gmood of the nation during the campaign are seeing more and more sponsors and street that 421-a was going to be back, in 2016. CBRE Matthew Astrachan Ariel Schuster affected New York City’s real estate market, developers starting to make concessions in there was definitely a sense of hope,” said Chris Corrinet Erin Grace Jackie Totolo Ramsey Feher Martin Horner by many accounts in the industry. Coupled order to sell units.” Mermelstein. “Prices started to rebound. Jared Freede Paul Ferraro SAVILLS STUDLEY with what some see as an oversupply of You are going to see more land sales and Paul Haskin Matt Ogle Lance Leighton condos, co-ops and hotel rooms in the city, Still, Romer has found that while units priced transactions take place in the first quarter Annette Healey Scott Panzer Evan Margolin Nick Hilton Bill Peters Richard Schuham the market saw a slowdown in some areas, at $3 million and below are selling on a of 2017 than we did in 2016.” Douglas Durst Rocco Laginestra Shannon Rzeznikiewicz Greg Taubin according to REBNY’s Statistical Abstract for regular basis, the market north of $3 million Meredith Maher Patrick Smith SRS REAL ESTATE PARTNERS 2016. Here are some highlights. has been moving much slower. The hotel sector Joseph Mangiacotti Derek Trulson Molly Peters Dan Turkewitz Mark Kapnick Zachary Price Deborah van der Hayden The condo and co-op market Retail leasing The number of visitors, both from within the Clyde Reetz Damla Yerdelini TRANSWESTERN U.S. and overseas, has inched up since last Jonathan Durst Stephen Siegel Corey Zolcinski Andrew Hawkins Michael Wellen Although prices for condos went up, there REBNY’s Statistical Abstract shows that year. That has made for a hotel sector where KAUFMAN ORGANIZATION Rory Murphy Lindsay Ornstein COLLIERS INTERNATIONAL was less activity in the market than last year. average asking rents for retail in Manhattan inventory has ticked up to accommodate Elliot Warren Jonathan Tootell Sales of co-ops and condos in New York City, rose in 2016, with Midtown, the West Side and increased tourism. REBNY’s Statistical Peter Simel LEE & ASSOCIATES VICUS PARTNERS including Manhattan, dipped slightly from Upper Manhattan seeing an uptick. However, Abstract found that upscale and mid-priced THE CORCORAN GROUP Peter Braus Bert Rosenblatt 2015, though 2016 statistics only included asking rents dipped sharply on the East Side hotels are averaging the highest occupancy Paul Wexler Richard Kave Leo Russel the months through September 2016. and declined somewhat in . rates, however, with luxury hotels seeing a Josef Yadgarov Brad Schwarz Jack Sheresky decline from 2015. The average daily room JP Sutro CUSHMAN & WAKEFIELD, INC. WHARTON PROPERTY ADVISORS However, developer David Ennis, founder of “It’s a terrible market,” said broker Norman rate for luxury hotels was just over $400, MURRO REALTY Richard Bernstein David Alperstein The Daten Group, a New York City commercial Bobrow, president of Norman Bobrow & Co., with room rates for upscale hotels averaging Andrew Braver Cosmo Montemurro Ruth Colp-Haber and residential developer, noted that when a tenant-representative commercial real over $200 and for mid-price hotels just under Frank Cento Connor B. Daugstrup WINICK REALTY the figures for 2016 are annualized, they estate firm. “There’s just not enough people $200. Robert Eisenberg Steven Baker could still exceed 2015. that are shopping in the stores to support the Glenn Isaacson Ken Hochhauser rents the landlords need to get in New York Jerry Swartz, the senior partner and founder Josh Kuriloff Jeff Winick David Rosenbloom One factor that may be contributing to City, other than on the major streets. Those of HKS Capital Partners, a real estate capital Justin Royce current trends, according to Ennis, is an are the only ones that are strong.” advisory firm, has found financing for hotel Heather Sloan oversupply of residential condos. “There isn’t deals scarce. “Hotels are on the low end Tara Stacom Maria Travlos a collection of developers that gets together “It’s one thing if you’re asking $50 dollars a of the wish list of lenders right now,” said Peter Trivelas with the city and says, `Okay, how much foot or $80 a foot,” said Bobrow. “If you’re Swartz. “It’s very difficult to get them done.” Mark Weiss housing do we need?’” said Ennis. “It doesn’t asking $300 a foot you have to be doing a lot Barry Zeller work that way. It’s like the herd mentality. of business to pay those rents—unless that For completed hotels that have been DAVID S. KRISS REALTY Everyone rushes to develop when money is line of tourists comes in.” operating for less than a year, the sources David Kriss cheap and demand is high.” of financing tend to be hedge funds, equity Kevin Schenone Residential housing permits funds or opportunity funds, he said. When “That’s what always causes these short- hotels have been operating for at least a year, term fluctuations but the long-term trend 2016 saw a steep decline in housing permits, conventional lenders are an option, he says. of [prices going] up is still in effect and will according to REBNY’s Statistical Abstract. be for the foreseeable future,” he said. “You While they hit 56,248 in New York City in Swartz isn’t alone. “In New York City, we are need to ride out structural issues that the 2015 — a number Michael Slattery, senior definitely seeing fewer hotel financings,” markets may be facing.” These may include vice president for research at REBNY, called said Ari Hirt, managing director of debt and rising interest rates, weaker demand, higher “unprecedented,”— that number dipped to equity financing for Mission Capital Advisors, unemployment, or oversupply of product 12,293 as of October 2016. a diversified real estate capital markets relative to demand, he said. solutions firm headquartered in New York City. One reason was the expiration of 421-a, a tax Michael Romer, managing partner of Romer break for affordable housing that had been One reason is the law of supply and demand. Debbas, a law firm focused on real estate and extended until the end of 2015 but has not yet “There was concern about the supply of hotel other areas, believes the residential market was been reinstated. rooms in New York and about the number on hold while the election was being sorted out. of hotels coming online,” said Hirt. “While “When it became a reality [that] it was lenders are concerned about [supply] in “What we found is post-election, people not going to be back, that sort of stunned New York. I don’t believe they need to be as realized that the world will go on,” said Romer. the industry,” said residential developer concerned. New York has always absorbed “Deals were being made. And we really saw an Adam Mermelstein, a principal of Treetop whatever it has built—apartments, hotels.” uptick in our business after the election and Development. “You saw a sharp decline in the weeks since.” both in construction starts and land prices. Hotels being built today tend to be affordable Especially in secondary localized markets hotels, such as Holiday Inns and Hampton For 2017, Romer anticipates normalization within New York City, land prices dropped Inns, said Slattery. “We’re not building more in local real estate markets. “Price tags are dramatically.” Waldorf Astorias,” said Slattery. S7

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, e i r t r n e e a r n z g o r t o w t e Based on interviews conducted by Greenwich Associates in 2015 with more than 2200 executives at small and mid-sized businesses in California with sales of $1-500 million. CNB results are are CNB results $1-500 million. of sales with in California businesses mid-sized and small at 2200 executives than more in 2015 with Associates Greenwich by conducted on interviews Based or colleague? a friend to [bank] recommend to you are likely How question: on the following competitors leading to compared Top Ranked in Client Referrals.* in Client Ranked Top * RESERVED. RIGHTS ALL BANK. CITY NATIONAL ©2017 C O V A to learn more. learn to 461-2515 Call (775) City National is the bank is the National City referrals. on client built CN018142.indd 1 multifamily rental building in Long Island City. rental building multifamily in loans closed of a number of such It was one said. recent months, he in this case, was not aHowever, the lender, company—and notbank. It was an insurance in the market.the only one active filling the gap“Debt funds are effectively are having a toughwhere other institutions leverage level or when bankstime swallowing a in abelieve they have too much exposure specific asset class,” said Kapahi. In what has proved to be a very liquid going toenvironment “you don’t know who is for risk,”win what deal, based on their appetite Kapahi said. situationNot all developers are finding their $3 millionchanging, however. “I just closed a saidloan at 3.25%. It wasn’t too complicated,” Mitchel Maidman, president of Townhouse andManagement, which owns 70 residential Thecommercial buildings in New York City. Upper Eastdeal was for a 17-unit walkup on the Side. And some players on the local real estate optimisticmarket, like Leonard Strindberg, are about what rising interest rates bode for the city’s real estate market. Strindberg is president of Compass, a Manhattan firm that specializes in the marketing of high-end New York real estate. “When interest rates rise, they usually indicate a strengthening economy,” said Strindberg. “When you look at the average interest rates, the interest rate for a 30-year mortgage is the equivalent of April 2014—a very strong real estate market. We know real estate markets have done very well with this level of interest rates.” Strindberg and other observers are also optimistic about what Trump’s policies will mean for New York City real estate. Trump’s transition team has said it will work to dismantle the Dodd-Frank Act, which has been blamed by critics for stifling lending. “Regulation may be reduced,” said Strindberg. According to Strindberg, some of the Dodd- imposed cumbersome have Frank Act that don’t make sense in obtainingrequirements people“If you open up the ability for a mortgage. to get mortgages that could be spectacularly effective in boosting first-time home buyers,” he said. “Easing the Dodd-Frank regulations will be a mammoth injection in the real estate market.” Right now, however, many will be waiting to see what Trump does in his first 100 days before predicting what is to come. “In New York City, we’re seeing a pullback in construction financing,” said Hirt. “There aren’t as many lenders that are lending for new construction. Particularly on the bank side, there has been a reduction in leverage due to regulations but nonbank lenders are filling in some of that space, especially for well- conceived projects with good sponsors.” The pullback is particularly pronounced, he said, in the construction of higher-end condos. “There is concern about how many buyers there are for high-ticket luxury condos,” said Hirt. Ayush Kapahi, principal and founding partner of real estate finance firm HKS Capital, has also turned to nonbank lenders, paring them with banks, in the current climate. “We just closed out a very large construction loan when everyone has been saying over the last 12 months [construction is] dead,” said Kapahi. The $150 million, nonrecourse loan was made to the private developer of a 467-unit, Brooklyn, Manhattan and Queens, Shorenstein Manhattan and Queens, Brooklyn, lenders, rather turning to hard-money has been financing in the 9% tothan banks, securing range. “The only loans you12% interest rate loans where you haveget are high-interest-rate business plan at acquisition,”to fund the entire he said. managing director ofSimilarly, Ari Hirt, at Mission Capitaldebt and equity financing real estate capitalAdvisors, a diversified in Newmarkets solutions firm headquartered York City, has found that on both short-term, therefloating-rate deals and long-term deals, That hashas been an increase in interest rates. area.had implications for projects in the ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING

ric Margules, president of real estateric Margules, president Margules Properties ininvestment firm that banks areManhattan, has found

Creative Financing Developers turn toDevelopers With Markets Changing, Markets With S9 To finance acquisitions of vacant buildings in of a deal and delay it.” “It’s definitely slower,” said Shorenstein. “Everything is moving at a slower pace. Sometimes the rate will go up in the middle David Shorenstein, principal of Silvershore Properties, which invests in multifamily buildings in Brooklyn, Manhattan and Queens, has seen deals taking an extra month to six weeks to close since the increase. Manhattan has in recent years dominated housing starts in New York City and was home to 68% of the value of new construction starts in New York City in the first nine months of 2016, according to a New York Building Congress analysis of construction data from Dodge Data & Analytics. For the five-year period spanning 2011-2015, Brooklyn and Queens were each home to 16% of the value of new construction starts — and the percentages were about the same in 2016. The Bronx accounted for 6% of the value and Staten Island 4%. At the moment, the interest-rate hike is already affecting many in both residential and commercial real estate, with the boroughs outside of Manhattan hit hardest. “Things that were not a problem a year or“Things that were not a problem a year saidtwo ago are all of a sudden problems,” in theMargules, whose deals are typically New YorkMargules is not alone in finding that ManyCity’s real estate market is changing. arein the development and financing realms the recentfinding their projects affected by whichinterest-rate hike by the Federal Reserve, to .75% inraised its federal funds range by .5% has givena unanimous vote Dec. 14. The hike and arise to an increase in nonbank lending manyslowdown in construction lending. But Donaldanticipate that the recent election of Trump as president may counterbalance this, ushering in a more relaxed regulatory climate and increased mortgage lending. getting stricter with their lending requirementsgetting stricter with office and retail projects. for his multifamily, are looking$10-$20 million dollar range. “Banks anyfor deposit relationships, security accounts, They arekind of money they can get deposited. to be.” much more insistent than they used E Sky’s the Limit 1/10/17 4:43 PM FIND YOUR FUTURE SELF MS Estate Real in CONCENTRATIONS: Finance and Investment Real Estate Asset Management Development MS Estate Real in CONCENTRATIONS: The Business Development of Development Sustainable Global Real Estate Pub/Issue Date: Crains NY - REBNY 1/16/2017 Date 1/10/17 Artist: pw #: 2 Proof Note: sps.nyu.edu/msre1b • sps.nyu.edu/msred1h NYUSPS Office of Strategic Marketing and Communications NYUSPS Office , which integrate theory real-world with integrate , which Job Number: a1617-0609 MS Real Estate/REDevelop COMBO Product: Size: 10.875” X 14.5” Bleed: N/A Color/Space: New York University is an affirmative action/equal opportunity institution. ©2017 NYU School of Professional Studies. action/equal opportunity institution. ©2017 NYU School of Professional University is an affirmative New York PREPARED sps.nyu.edu/graduate-events6b VISIT: A Graduate Information Session February on Saturday, 11, 10 a.m. 212-998-7100 REQUEST sps.nyu.edu/applygrad INFORMATION: sps.nyu.edu/gradinfo6b TODAY: APPLY practice. Learn directly from seasoned from practice. directly Learn industry the heart in veterans capital the world. Extraordinary of estate real NYC—the networking of firms,opportunities, international and some the top at study of internships opportunities education around the stellar the globe,away and the provide and career. now throughout success your your ensure to required vision STUDY REAL ESTATE, IN THE HEART OF REAL THE STUDY ESTATE, MARKET GLOBAL REAL ESTATE seeing markets are sustained estate real commercial growth, Today’s must be industry, able who pursue to but those careers evolving this in including trends demographic developing and react to shifts,anticipate increased urbanization, technologies, new and regional connectivity, the demand The NYU sustainability. for School Professional of Studies Schack Institute Real of Estate offersthe MS in Real Estate and the MS in Real Estate Development ATTEND: REGISTER: CALL: WELL- CN018147.indd 1 REBNY will also will also REBNY a be continuing called offering new Speaking Public and Presentation six-week a Skills, course, non-credit a in addition to non- of variety seminars credit with panel discussions by and lectures leaders. industry group “The first graduates of the completed course and they thoroughly enjoyed it,” said said it,” enjoyed thoroughly and they course so designed was “The course Barbaccia. their ability enhance could our members with confidence, themselves express to and with clarity information articulate groups.” large to speak skills to develop continue will Another popular offering REBNY “It channel. YouTube on its Series How-To is its facing the issues of on some a deeper dive gives “The instructional Barbaccia. said the industry,” up into broken are videos and educational on the go. brokers for ideal segments, bite-sized that is as a podcast offered is also This series iPhone users.” to available take professionals estate real of Hundreds Barbaccia. said annually, courses REBNY’s at course the NYRS took himself Randolph his assuming before ago, six years REBNY surprised He was at REBNY. role leadership accreditation the nine-week of the power by “It has really his career. elevate to program with a wider range connect helped me to “It has allowed Randolph. said brokers,” of involved with the sponsors network me to attorneys such as banks, in the program, It has name a few. to agents, and insurance as a serving by helped me with clients also and my in professionalism approval of stamp the industry.” to commitment “Energy efficiency and conservation are more more are conservation and efficiency “Energy John said before,” than ever today important why “That’s president. REBNY III, Banks, H. run our building systems ensuring that all of is critical.” performance at peak educational adding a new will be REBNY In 2017, to wanted “We of agency. topic offering on the agency on and clarity understanding ensure during a real created that are relationships the New in alignment with transaction, estate mandated State’s of Department State York and sellers,” buyers for requirements disclosure for president vice senior Barbaccia, Joseph said at REBNY. and education services brokerage designation, which offers a similar level of similar level a offers which designation, and members, commercial to programming Certified Master Expert, Negotiation Certified Buyer Certified and Expert Negotiation Representative. a new Camp, Boot The Sustainability is spring, past offering launched this educational training and sustainability efficiency an energy building managers, York New for program The and engineers. operators superintendents, with the Mayor’s is run in collaboration program and Owners Building of Sustainability, Office NY), (BOMA York New of Association Managers Council. Green and Urban ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING

nderstanding the mindset of home of mindset the nderstanding estate real local for is essential buyers deals. close to want who brokers

Knowlege is Power Knowlege Recognize thatRecognize REBNY Education:REBNY ProsReal Estate S11 The NYRS accreditation program is one of is one of program accreditation The NYRS programs education continuing of a variety to looking to brokers offers that REBNY include Others in their careers. advance Professional Commercial York the New “There is increasing quality of life in this life of quality is increasing “There along that comes and the complexity city, Randolph, Jarrod said with that is immense,” for committee on the executive co-chair Group, JGR consulting of and principal NYRS in luxury that specializes a firm in Chelsea ranges, all price At advisement. residential to have “you on the high end, particularly without pushing an intrinsic value create Randolph. said clients,” The New York Residential Specialist (NYRS) (NYRS) Specialist Residential York The New them helps at REBNY program designation in programming with specialized that, do just and marketing. ethics negotiation, finance, U Sky’s the Limit ARTIST RENDERING

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princeton.indd 1 1/6/17 1:36 PM CN018135.indd 1 1/6/17 6:35 PM CN018126.indd 1 1/6/17 6:34 PM ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS Marc Holliday | Harry B. Helmsley Distinguished New Yorker Award

Sky’s the Limit Building Skyscrapers cializes in bringing more cost-efficient capital on our laurels. With every achievement, we to real estate products throughout the coun- look forward to the next avenue of growth.” Is Hard Work, But This try. “I recognized the opportunity to take my own path and apply emerging capital market Holliday’s father, Morton Holliday, was an im- Ambitious Executive techniques to an industry that was slow to portant influence on him. He was a managing Is Undaunted adapt,” he said. director of the real estate finance company Sonnenblick-Goldman. xcavation for the one-block develop- Holliday’s strong partnership with Andrew ment site at 1 Vanderbilt is complete Matthias, president of SL Green, has also been “Clearly, I would say observing my father and vertical steel construction is slated a powerful asset in achieving his goals. “It’s over the many years was probably the great- Eto start in August, but project developer Marc been a great journey for us to have that kind of est influence in setting myself up to be in an Holliday is well aware of the considerable long-term track record of success together with industry I’ve come to love,” said Holliday. “It work that lies ahead in creating the tallest still so much ahead of us,” said Holliday. “It is was in the blood, as it were. I can recall times skyscraper in . The proj- something not a lot of partnerships out there in when I would be sitting in my father’s offices ect, located next to , real estate in New York City can match.” on 6th Avenue, watching him make some big will also introduce $220 million in transit deals with some of the largest owners and improvements to the area. lenders doing business at that time. I found that to be extraordinarily exciting.” “We’ve done much but we still have much to go,” said Holliday, CEO of SL Green Realty When he is not working, Holliday’s passion Corp., the commercial property firm behind and second career is in horse breeding and the project. horse racing. “It’s a great diversion for me in my downtime from work,” said Holliday. “It Holliday, who knows the power of sticking keeps my competitive juices flowing.” with big pursuits, is not daunted by huge tasks. The assemblage of the parcels took a Holliday lives in Scarsdale with his wife Sher- decade, culminating in SL Green’s full control ree—with whom he will be celebrating a 25- of the site in 2011. year wedding anniversary this year—and their three children. “She’s been an extraordinary Holliday hopes the project will serve as a partner to me,” said Holliday. model for others in the city. “It will serve as a blueprint for how the best of commercial The couple is very active in the nonprofit development in public-private partnership will sector and philanthropy. Holliday is a gov- TIMELESS VIEW, NEW VISION. proceed in the future,” said Holliday. ernor on the Board of Directors of the New Holliday has faced many challenges in his ca- York Racing Association and a member of Holliday is the recipient of REBNY’s Harry B. reer. The biggest, he said, was a project that the Executive Committee of the Real Estate Helmsley Distinguished New Yorker Award for didn’t come to fruition: It was a failed attempt Board of New York and has received the 2016. “I’m very honored to be able to accept it to obtain the gaming license at Aqueduct Humanitarian Award for his efforts in support on behalf of myself and SL Green,” he said. racetrack in the late 2000s. of National Jewish Health. In 2011, he created the Holliday Memorial Fund for Lung Cancer Holliday joined SL Green nearly 20 years ago “That was a project that spanned four gover- Research, for which he has raised more than as chief investment officer. He rose to CEO in nors and many years,” said Holliday. “It was $3 million. 2004 and has since led the firm to become a political process that wasn’t always on the New York City’s largest commercial landlord, levelest playing field. It was a good lesson in In 2014, the Holliday Foundation made a $5 with investment interests in more than 50 mil- what it takes to be successful in the business million gift to the Integrated Real Estate at lion square feet of commercial space. on projects where business has a tangent Lehigh program, through which students with the political process. In that particular can minor in real estate. Holliday earned Unlike many of its competitors, SL Green, situation, we gave it our best shot but came his Bachelor of Science degree in business traded on NYSE, is a real estate investment away without the prize.” and finance from Lehigh. In 2009, Columbia trust (REIT). An indication of the firm’s University’s Graduate School of Architecture, health, it increased its common dividend for Throughout setbacks and victories, SL Planning, and Preservation—Holliday earned the sixth year in a row in December. Green’s team has kept Holliday inspired. The a Master of Science degree in real estate de- firm has about 300 corporate employees and velopment at the university—established the “Everything we do in assembling the highest another 800 who work on its properties. Holliday Professorship of Real Estate Devel- quality, largest, most-profitable portfolio in New opment, as a result of a gift the couple made York City is done with an eye not toward legacy “One of the great aspects of this firm is to Columbia University. but toward maximizing share price for share- coming to work every day with the team that holders,” said Holliday. “That’s our number one Andrew Mathias and I have assembled, which Holliday has watched the program grow into priority. We take all the steps necessary to give I do believe is the best, brightest and most one of the leading real estate programs in the For availability information, please contact: us the best chance of achieving that.” ambitious in the New York City market,” said country. “It offers a holistic view of the devel- Holliday. “There is an energy in the culture at opment process, trying to train future leaders MARC S. PACKMAN 212.940.6255 CLARK BRIFFEL 212.940.6821 JESSICA KANFER 212.940.6890 Holliday’s background in finance has helped the firm that really excites me and drives us in the real estate field to build both profitably him succeed. Prior to joining SL Green, he year after year to grow and improve the port- and responsibly,” he said. That’s a perspective worked at Victory Capital Group, which spe- folio and our tenant base. We never really rest he tries to bring to SL Green, as well. S15

FSH-1338 Fisher Brothers 2017 Corporate-4Buildings_Crains_10.875x14.5_v2.indd 1 1/5/17 2:15 PM CN018125.indd 1 1/6/17 6:36 PM ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS Carl Weisbrod | The John E. Zuccotti Public Service Award

Sky’s the Limit A Dedicated Public Development Corporation, where he helped to Asked what his greatest challenges have been, lead the recovery of downtown neighborhoods Weisbrod said the work he did to improve Times Servant Never Tires of after the September 11 attacks. He also spent a Square and his work during the post-9/11 recov- decade as founding president of the Alliance for ery are at the top of the list. Transforming New York Downtown New York, the largest business im- provement district in the nation. From 2005 to However, he believes the work he is doing at the arl Weisbrod didn’t intend to pursue a 2010, Weisbrod was president of the real estate moment to be his most challenging. NOBODY CLOSES career in city planning. After graduating division of Trinity Church. from New York University School of Law, “The [city’s] population is at an all-time high,” Che became an attorney at Mobilization for Youth Asked what it takes to serve the public interest said Weisbrod. “Crime is at an all-time low. We’re Legal Services on the Upper West Side, rep- best as a leader, Weisbrod stresses the impor- a growing city. How do we continue to grow and resenting low-income New Yorkers and immi- tance of appreciating the perspectives of the revitalize neighborhoods and assure that the grants seeking housing. various constituencies involved in key issues. people who have lived in those neighborhoods continue to live there? How we do it in a way LIKE WE DO “I was constantly suing the city for things that embraces both the past and future is really I thought the city could be doing better,” challenging, exciting and tremendously gratify- recalled Weisbrod, now director of the New ing? People are concerned about change and York City Department of City Planning under wary of it for good reason.” Mayor de Blasio, and chairman of the New York City Planning Commission. Weisbrod lives with his wife, Jody Adams, a retired family court judge, on Governor’s Island. But Weisbrod’s plans changed after he sued His son Billy, a journalist, lives nearby in Astoria the city and Mayor John Lindsay’s Commis- and writes for DebtWire. sioner of Relocation, Amalia V. Betanzos, became a mentor. One reason he loves Governor’s Island, he said, INVESTMENT SALES is its unparalleled views of New York City. “She was an extraordinarily smart, savvy woman who really challenged me to—instead “From Governor’s Island you can see our mag- of suing her all the time—join city govern- nificent skyline, Brooklyn, the Statue of Liberty, RETAIL LEASING ment to try to solve the wrongs I saw from the the harbor,” said Weisbrod. “There are no other outside,” said Weisbrod. “Unless you really appreciate and respect all of views like that just about any place in the world.” those points of view and address them on their That advice from Betanzos, who died in 2011, merits and engage with them on their merits, When he is not working, Weisbrod is very active CAPITAL ADVISORY inspired Weisbrod to bring his legal skills to I don’t think you can be an effective public ser- in New York City Outward Bound, where he the Department of Relocation during the vant,” said Weisbrod. previously was chairman. He has been involved Lindsay administration—and touched off a in the nonprofit, which helps teens learn how long career that has spanned both the public In a career that also included forays in pri- to overcome life challenges through outdoor and private sector. vate industry, Weisbrod served as a partner adventures, for more than 40 years. “I’m a great at HR&A Advisors, an urban-development supporter of what they do,” said Weisbrod. “Out- Weisbrod, the recipient of REBNY’s John E. consulting firm, from 2011 through February ward Bound has been very, very effective.” Zuccotti Public Service Award, has played a 2014. In that capacity, he managed the rezon- key role in the administrations of four mayors ing of the Hudson Square area in Manhattan Weisbrod himself tries to go on annual Outward since Lindsay. Mayor Koch appointed him to into a hub for creative industries and a loca- Bound-like trips to remote places. “Getting lead the city’s efforts to transform a crime-rid- tion for new housing. into nature is tremendously relaxing,” he said. ONE CONSOLIDATED TEAM den and he served as executive His trips have included rafting down the Grand director of the New York City Department of Weisbrod saw how the private sector could help Canyon and diving in Iceland. City Planning and Chairman of the New York the public during the city’s fiscal crisis of the WWW.EASTERNCONSOLIDATED.COM City Loft Board in that same era. During that 1970s. John Zuccotti was chairman of Olympia He is also an obsessive Mets fan. “I follow period, Weisbrod also became president of & York, which owned the World Financial Center, them religiously and have for 50 years or New York State’s Development at the time. When the international firm de- more now,” he said. Project, making the area friendly for tourism. clared bankruptcy, Zuccotti decided to keep its USA operations, based in New York City, from fil- But Weisbrod is even more passionate about Weisbrod later became the founding president ing. That meant Olympia & York would continue his work. of the New York City Economic Development to pay real estate taxes—a significant decision, Corp. under Mayor David Dinkins. He negotiated given that it was then one of the largest taxpay- “I think of myself as unbelievably fortunate to the United States Tennis Association’s 99-year ers in the city, if not the biggest, Weisbrod said. have the opportunity to do the kinds of things lease in Flushing Meadows-Corona Park and the I’ve done and work with the kinds of people transaction that brought Harlem its first major “It exemplified John’s ability to be a leader in I’ve worked with,” s said Weisbrod. “People with supermarket, a Pathmark on 125th Street. the public sector and in the private sector,” whom you work in city government, particularly, Weisbrod said. “To me, the act that really are just amazing and don’t get the credit they Under the Bloomberg administration, Weisbrod demonstrated John’s true commitment to should get for the extraordinary work they do. became a board member of the Trust for Gov- the city was making sure that Olympia & York It’s a very sophisticated, very competent govern- ernors Island —where he was recently appoint- paid its taxes at a time when it would have ment. The citizens of this city are fortunate to ed chairman—and of the Lower Manhattan been really easy not to.” have the competent public servants they have.” S17

CN018132.inddCN018117.indd 1 1/6/171/3/17 7:273:52 PMPM 1/6/17 4:56 PM RockefellerGroup.com For nearly nine decades,For nearly Group has been Rockefeller namestrusted most the of one committed toin real estate, own- selective investment, ofership and development worldwide.premier properties worldwide.premier properties our projects extend our projects extend Today Today far beyond our legacy infar beyond our legacy in but remain rooted but remain rooted New York, New York, in the same innovation that in the same innovation that pioneered large-scale urbanpioneered large-scale urban development. development. mixed-use mixed-use HIGHLY HIGHLY SELECTIVE SELECTIVE CN018139.indd 1 As Dacunto rose in his field, he won two two won he his field, in rose Dacunto As Griffin H. John Awards—the other REBNY and the in 2015, Award, Service Community the of Executive Management Corporate of the one was Griffin in 2005. Award, Year 11 attacks. in the Sept. who died colleagues award service community Griffin John H. “The Dacunto. said me,” for emotional very was a month Silverstein for work to came “John people I the last one of John was 9/11. before a great He was on 9/11. on the 88th floor saw himself. service in community involved guy, off the floor. the other employees all of He got in the award receive To man. a good John was me.” for honor a great his name was Dacunto and in his time off, Both at work is a He in charitable activities. is active Eight, Donate member of board founding an organization LiveOnNY, run by a project the need to of awareness that raises and registration, donation organ increase of Board Foundation is on the LiveOnNY donation is an important “Organ Directors. he said. me,” for cause the for drive a blood established He has also collection and food Blood Center York New the throughout programs Harvest City for portfolio. Properties Silverstein and enjoys life family has an active also Dacunto and two Karen, spending time with his wife, in He lives 23. Andrew, and 25, Kristen, children: Island. on Long Massapequa, whether dine out, time to has When Dacunto it is often associates, or business with family on restaurant rustic a tiny, Trattoria, at Gigino Street. Greenwich a “It’s he said. there,” meal had a bad never “I’ve relax.” to place low-key nine the past for student martial arts An avid belt who is studying is a brown Dacunto years, and jiu-jitsu. kickboxing, of a type Thai, Muay is a “There Dacunto. said release,” a great “It’s to good always It’s involved. factor discipline with. the people I train I enjoy discipline. have doing it as keep to I want competing. I like long as I can.” taking in the by recharges also Dacunto World 7 at his office from view unobstructed he has an his window, From Center. Trade the George that spans view unobstructed Bridge Street the 59th to Bridge Washington in between. and everything “I look out he said. granted,” it for take “I don’t day.” every there World Trade Center. As fate would have it, it, have would fate As Center. Trade World during the attack. not in the office he was at a breakfast floor, in the ground He was a number “I had left meeting in the Marriott. he said. a meeting,” to go to employees of did not survive. the firm of employees Four rebuilt, was Center Trade World the As with Silverstein’s work to continued Dacunto in the involved and was portfolio existing which Center, Trade World 7 of rebuilding owned. Silverstein Dacunto others, that period and many During the chairman of that Larry Silverstein, said was an important mentor. firm, think about but if you corny, “It might sound gone constantly he’s through, gone what he’s what no matter and progressed, forward Dacunto. said or did,” said anyone himself found Dacunto the attacks, After Avenue at 521 Fifth office at Silverstein’s collapsing. was Center Trade World as 7 he had and that he the strength see to “Just so be done was what needed to understood said. Dacunto me,” for powerful Although he has relished his role, it often it often role, his he has relished Although the of One challenges. with steep came the firm signed the after arrived biggest July 2001. in Center Trade World the for lease of in charge be the person to going “I was Dacunto. recalled operations,” changed 11 attacks the Sept. months later, Two onimpact and had a deep history of the course difficult the most “It was Properties. Silverstein he said. life,” my time of was in the office Dacunto’s the time, At of the on the 88th floor offices company’s ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING

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ne thing many people don’t know about know people don’t ne thing many of president vice executive Bill Dacunto, is Properties, at Silverstein operations

Bill Dacunto Secret: Loyalty Bill Dacunto’s SuccessBill Dacunto’s S19

“It’s a collaborative effort,” said Dacunto. said effort,” a collaborative “It’s - in an environ he thrived found also Dacunto in involved were all departments ment where building, each of and construction the design unique expertise. its contributing with each “It was a first-class operation all the way, which way, all the operation a first-class “It was the of “All he said. me,” to impressive really was manner.” run in a first-class were buildings In the course of his work, Dacunto had a Dacunto his work, of In the course owned the firm on buildings work to chance his which cemented Manhattan, throughout choice. about his career excitement As Dacunto worked on entry-level code- on entry-level worked Dacunto As projects, and environmental issues compliance friend had been so his why he understood dynamic,” so was “The department enthusiastic. and I could important, was “The work he said. York.” in New estate in real a future see Dacunto may never have started working for for working started have never may Dacunto from graduating after years five Silverstein at Brockport York New of University the State a friend, of the persuasion not for if it were at the there employed who was Kelly, Pete place about what a great “He talked time. Dacunto Dacunto. recalled work,” to it was a for interviewing after joined the firm in 1987, department. operations job in the firm’s “A lot of things have happened in New York York happened in New have things lot of “A Dacunto. said in 30 years,” and at Silverstein from growth the company’s of be part “To are we where to when I started were we where is a highlight in itself.” now From Dacunto’s point of view, his company his company view, point of Dacunto’s From for opportunities offered has always with the He has stuck growth. professional mom-and- a small, from evolved firm as it has privately- a 360-person, into pop operation development, estate real full-service held, As powerhouse. and management investment he gradually the ranks, through rose Dacunto the managing all of for responsible became portfolio. in the firm’s properties “I’ve never thought once about moving on, on, about moving thought once never “I’ve the Dacunto, said else,” looking somewhere Brooker M. George REBNY’s of recipient Award. Year the of Executive Management that he doesn’t have a resume. In his 30 years In his 30 years a resume. have that he doesn’t he has said Dacunto Properties, at Silverstein job. another look for to had the desire never O Sky’s the Limit 250 PARK AVENUE SOUTH Levien & Company, Inc. 841 BROADWAY ARG Realty Consultants, Ltd. Tudor Realty Alan R. 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resnick.nyc 212.421.1300 Successful is a Host of of isa Host Brokers and Behind Every New York City in 2016. York New Building Owner as our existing Tenants that as that existing our Tenants renewed their commitment to who represented them, as well them, as well represented who Steadfast Tenants. Jack Resnick & Sons thanks & Sons Resnick Jack the Incredibly Talented Talented Incredibly following Firms and the Brokers RES-1097 Resnick Thank You Ads_Crains_10.25x14_V2.indd 1 CN018136.indd 1 20 Crain’s Developing Pacific Park reinforced the reinforced Park Pacific Developing is in what she deeply believing of importance and tried and called will be tested “You doing. a project do in you everything defend upon to in it from “I believed said. Gilmartin that,” like input and the community believe I one. day has today are we where us to that got process project.” made it a better Enterprise’s City Forest company parent Selling Nets and the Brooklyn Center in Barclay’s stake purchaser The challenging. also was in 2015 Mikhail Prokhorov. billionaire Russian was when I drive say if I didn’t you be lying to “I’d super I feel day that building every past of sense small a have “I Gilmartin. said proud,” the building of a piece not having longing for longer.” any be has to estate “Real Gilmartin adds, Nonetheless, the company. of the good for It was unemotional. out housing.” on building focused are We both her Gilmartin who earned from degree and master’s undergraduate out intending start didn’t University, Fordham She began developer. estate a real become to Fellows Urban City’s York in New her career in the years seven for and worked program the city’s now Corp., Development Public she When Corp. Development Economic law to go to she intended her career, began of juveniles. for the rights fight to school she did in the Public the projects It was that helped her discover Corp. Development I had quickly discovered “I very her true calling. in my development estate real professional Gilmartin. said veins,” Gilmartin spends When she is not working, “My first her time with her family. much of Gilmartin. said children,” my is always passion 19—a Devin, sons She has three: Under 20 who co-founded the sustainable who co-founded Under 20 17, Studio—and Eidan, Querencia firm design 13. Tess, and daughter a Garage, at Le relax to like often They really “It’s in Brooklyn. restaurant Vietnamese Gilmartin. said home,” from away our outpost family.” us like treat “They Barre Pure Gilmartin turns to reboot, To sanity my keep I try to “That is where classes. she said. and exercise,” she finds. her field, in is essential Recharging Gilmartin, said City, York in New project any With live.” they before times die three “they and live be relentless to how learn to have “You Gilmartin. said urgency,” of sense with a great Ratner, a longtime mentor, supported her effort supported a longtime mentor, Ratner, the were “We she recalls. the business, chase to the Brooklyn were “We Gilmartin. said outlier,” office Avenue not a Park were We developer. developer.” selected finally was Ratner City When Forest 2000, Day, Valentine’s on as the developer career-changing “It was Gilmartin recalled, amazing people. of It put me in front me. for with an amazing partnership It created my inside of me, It allowed the newspaper. building.” of ways new explore to company, Park Pacific 22-acre The controversial first its and opened to begun in 2007 project, another important was in 2016, residents as Pacific known Now Gilmartin. for milestone includes development the Brooklyn Park, well as units, and affordable modular rentals ground which broke Center, as Barclay’s delays encountered The project in 2010. eminent over arguments lawsuits, of because Recession. Great and the domain, on developer the senior But Gilmartin, into “I stepped it moving. kept the project, super invigorating, that was something important,” and really controversial challenging, a fire drinking from like “It was Gilmartin. said a long time.” for hose pace to managing it was for Her secret by it day and took “I did what I do best herself. she said. day,” first occupied in 2007, was a pivotal one she a pivotal was 2007, in occupied first project.” “breakout her calls position a leadership into thrust probably “I was a“It was Gilmartin. said years,” my beyond executive [Ratner, Bruce tell me to for stretch I really that Ratner] City Forest chairman of to was which win this business, to wanted a client that Lady, the Gray to be the partner years.” 100 every moves ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING

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MaryAnne Gilmartin MaryAnne

Iconic Deals Are ParIconic Deals For This Developer,For This for the Course S23 New York by Gehry was one of many iconic iconic many one of Gehry was by York New Gilmartin has made her where buildings in Ratner City joining Forest mark since the of led the construction She also 1994. in Manhattan headquarters Times York New Park Pacific the 22-acre and is overseeing Atlantic as known formerly development, such of a result As in Brooklyn. Yards, repeatedly Gilmartin has appeared projects, on the That conversation enabled the high-profile enabled the high-profile That conversation “It turned out to as planned. continue to project Gilmartin. said did,” ever thing we be the best “I will babysit for the families who live at the top who live the families for “I will babysit it to for what it takes that building if that’s of her. Gehry telling Gilmartin recalls going,” keep Gilmartin had soon negotiated an negotiated Gilmartin had soon would the developers where arrangement for Gehry his usual royalties pay to not have a building. attaching his name to “What can I do to make sure that doesn’t sure make I do to “What can her. him telling she recalls Anne?” Mary happen, “New York is in a state of absolute turmoil,” turmoil,” absolute of is in a state York “New the change to have may “We Gehry. she told the building.” height of Although Gilmartin was an advocate of building of an advocate Although Gilmartin was with tasked she was full height, its to the tower the broach to architect phoning the famous it down. scaling subject of “There was panic inside of the company the company inside of panic was “There exposure,” estate much real had too that we in the company Some Gilmartin. remembers the building to limit the height of to wanted costs. construction reduce When the September 11 attacks on the World World on the 11 attacks When the September City Forest in 2001, place took Center Trade the for on the loan closed had just Ratner Gehry, by York New called now skyscraper Gehry building Frank 867-foot a 76-story, blocks a few Street, at 8 Spruce designed away. recipient of REBNY’s Bernard H. Mendik H. Bernard REBNY’s of recipient Award— Estate Real Leadership Lifetime the of some of lines has been on the front York City. in New deals highest-profile

For Gilmartin, the deal for the Times building, building, Times the for the deal Gilmartin, For A Sky’s the Limit 1/10/17 3:37 PM CN018138.indd 1 - - competitors. They have done even better here here better done even have They competitors. than before.” work is still there acknowledges But Riguardi not have we the places of “One be done. to being top of goal our and achieved done well invest York has been our New the market of The firm has been in the he said. ment sales,” acknowledges. he pack, the middle of catch that business have to optimistic “We’re “Some said. Riguardi our other business,” up to try to going We’re on. moving our people are of being us up to raise additions to some make to in that space.” or three two the top these, like challenges internal he navigates As facing ones external of aware is well Riguardi the industry. sure is making challenge “I think the biggest with the expansion is consistent job growth need “We Riguardi. said the marketplace,” of with office that is on pace job growth have to development.” “I a concern. also are rates Rising interest he it,” has been managing into think everyone I think it will have increase, the rates “As said. real traded of publicly an effect on the pricing I think the market Right now, stocks. estate increase.” the rate absorb can in chari- is active Riguardi work, of Outside Amer the and is chairman of table activities which Center, Medical Rabin of Friends ican at treatments medical innovative supports one million for Center Medical Rabin Israel’s other among a number of per year, patients charitable activities. time and places find more trying to “I’m really to the back in giving a difference make I can he said. community,” Linda in both New with his wife lives Riguardi grown He has four N.J. and Rumson, City York and a Alex, and Nicolas Peter, sons—Edward, Edward Jen who is married to daughter-in-law granddaughters, his two and is the mother of and Eleanor. Emma our spare and I do spend a lot of “My wife my “That’s Riguardi. said time with them,” main focus.” to escape to like the Riguardis vacations, For Barts. or St. Paris - visit the muse to I love “When I’m in Paris morning until from the streets ums and walk like I don’t Barts, “In St. Riguardo. said night,” will there knows, he well As do anything.” to back. when he gets do him to for be plenty “I’ve had some really fortunate relationships relationships fortunate really had some “I’ve offered with people who have in the industry Riguardi. said advice,” me great about oversees Riguardi role, In his current offices seven from people who work 2,000 in New including two area, Tri-State in the - include broad His responsibilities City. York by platform York New ening the company’s leading client relationships, key developing estate real maintaining senior major projects, relationships and political contacts industry talent. new and recruiting - pro of team a great put together “We’ve other and are each who respect fessionals Riguardi. said do,” at what they good really work we The more leaders. market are “They been.” have the results the bigger together, about $350 million worth does JLL Currently, said annually, City York New in business of $10-12 from That number has grown Riguardi. million when he joined the firm. places, a number of from comes That growth start people to had good “We Riguardi. said and grown people have “These he said. with,” recruited also We’ve their careers. elevated our talent from top really some and attracted - a white me gave basically “They Riguardi. need us what you tell `You and said, board the It was supportive. very were They do.’ to have situation I could entrepreneurial most entered.” have to fortunate was Riguardi Along the way, his father, to In addition mentors. had several Jerry Speyer, developer turned to he he said the controls Tishman Speyer firm whose Build- the Chrysler and Center Rockefeller and managing director ing; and Bill Lewis, at Lazard banking investment of co-chairman & Co. Freres ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING - The Louis Smadbeck Broker Recognition Award Broker Recognition Smadbeck The Louis

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ne of the most valuable pieces of of pieces valuable the most ne of chairman Riguardi, that Peter advice - re York the New of and president

Peter Riguardi Peter Influential Broker Influential Naturally To An Naturally Clients Comes Clients Comes Serving High-Profile High-Profile Serving S25 “They wanted to develop a business in New in New a business develop to wanted “They recalled in class,” best that was City York In 1994, Riguardi was ready for a new chal- a new for ready was Riguardi In 1994, ABR Inc., Colliers and helped form lenge He and principal. chairman vice he was where 2002. in JLL the firm and joined sold Riguardi, who has a BA in marketing and in marketing who has a BA Riguardi, career his started College, Iona from finance the enjoyed “I really in 1983. Williams at GVA a were “There Riguardi. said people there,” I liked and characters. personalities lot of and the entrepreneurialism the creativity, He eventually people.” senior to the access in president vice senior the youngest became history. the firm’s Later, at JLL, which he joined in 2002, he and he joined in 2002, which JLL, at Later, when America Bank of represented a team at One feet 1.5 million square to it relocated Park. Bryant Building a stellar reputation has allowed has allowed reputation Building a stellar the of in some role a leading play to Riguardi In 1998 York. in New deals profile highest leasing the largest he helped orchestrate the history, City York in New transaction move Authority’s Transportation Metropolitan as at , feet square 1,631,166 into At team. representative the tenant of part chairman and principal vice he was the time, which he had helped to Inc., ABR Colliers of Riguardi. Tener in 1994 as Koeppel form gion for commercial real estate services and services estate real commercial gion for ever has JLL, firm management investment - Ed Edward. his father, from came received, property of “dean as the some to known ward, as manag York,”retired in New management Smad- Louis REBNY’s the winner of Riguardi, and a mem- Award Recognition beck Broker took Governors, of Board the group’s ber of of minute “Every seriously. advice his father’s he said. that credo,” by I live the day “He advised me that my reputation was the was reputation me that my “He advised I should honor important thing—and most for all operations who leads Riguardi, said it,” and Jersey New York, in New the company Connecticut. ing director at Jones Lang LaSalle in the New in the New Lang LaSalle Jones at ing director Group. Transactions York O Sky’s the Limit the

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CN018122.indd 1 1/10/17 10:55 AM CN018140.indd 1 1/6/17 6:39 PM ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS Linsday Ornstein | The Young Real Estate Professional of the Year Award

Sky’s the Limit A Rising Star Helps founding and managing Ads On Tags, a new in marketing to her work. In her tenant advisory advertising medium, and serving as marketing role, for instance, she focuses on branding 345 Fifth Avenue Transwestern Make director for Camdens, an ecommerce firm. and space design. And in her agency leasing Its Mark on New York Early in her career, she was an associate at the role, she develops the strategy and marketing public relations firm Nike Communications. approach for her assignments. Directly Facing the Main Entrance to the She graduated Summa Cum Laude and top or Linsday Ornstein, co-leading the New of her class as a communications major at the “Given that marketing and branding is such a York office of commercial leasing firm University of Pennsylvania. huge part of my background and what I enjoy, Empire State Building Transwestern has provided plenty of bringing that into my real estate practice has Fopportunities to put her skills to the test. One thing that drew Ornstein to Transwestern is been hugely beneficial, both for my clients and its culture, shaped by an unusual compensation for my own satisfaction,” she said. Transwestern, which has 2,200 employees in 34 model. In a traditional brokerage model, brokers locations around the country, opened its New are paid on commission. No so at Transwestern. Ornstein juggles her career with a busy York office in 2011. Ornstein, who runs the office When Transwestern gets paid by clients, personal life. She resides on the Upper West with Northeast Market Leader Steve Purpura, is Ornstein explains, the revenue goes into a single Side of Manhattan with her husband Gus and a leader in all areas of the business with specific bucket, which gets divided up and paid out via their three children: Maya, 10; Zoe, 7, and Remy, responsibility for overseeing the firm’s branding 2. Her secret to juggling it all is organization. “I consulting practice across the Northeast pack 36 hours into 24, every day,” said Ornstein. region, including New York City, New Jersey and Boston. She has recently served clients such The family spends considerable time on sports as JPMorgan Chase; New Balance; Mitsubishi; and outdoor activities, from tennis to hiking. Advent International; The Children’s Aid Society Gus, a former pro football player, played for and The Robin Hood Foundation, an anti-poverty teams including the New York Jets—and also group, as they hunt for office space. played first base for the Yankees. He is now athletic director of Fieldston School. “It’s very entrepreneurial, which suits my personality and my ambitions,” said Ornstein, One of Ornstein’s favorite ways to relax is hiking a Transwestern partner. “To take a storied through local parks. “We like to explore the brand like Transwestern and put our own local parks around New York City a lot,” said Ornstein. stamp on it and our own local spin on what “We go to Riverside Park, and we think the future of real estate brokerage Palisades Park in New Jersey.” looks like is really important.” For vacations, the Ornsteins like to go to Mexico The high-energy winner of REBNY’s Young every year and are skiing buffs. “If there’s any Real Estate Professional of the Year Award, reason to go out West, I’ll go,” said Ornstein. Ornstein is particularly proud of the New York bonuses at year’s end. That means all team office’s agency leasing practice, which saw an members are incentivized to work together. Ornstein, who started the women’s varsity eight-fold increase last year. “We have huge golf team at University of Pennsylvania, also momentum and velocity on that side of the “It’s entirely different from the way all the plays in many charitable golf tournaments. business,” said Ornstein. other brokerage shops run,” she said. “We’re But given her busy schedule, she said, “It’s one team. There are no silos. We all work not nearly as often as I’d like.” The team’s transactions included securing together collaboratively.” a 10.5-year lease for Mic, a media site aimed Ornstein spends considerable time on other at millennials, which moved to 1 World Trade Helping to shape the culture of the New York charitable activities. Since 2005, she has served Center this past summer. The office also office has been important to Ornstein. It on the cabinet for Israel Bonds, sold to support negotiated a lease for 34,100 feet of space recently won the number one spot in the Crain’s Israel; and has been co-chair of the Community for Bustle, an online women’s publication, Best Places to Work ranking. “That is hugely Outreach Group at the Mandell School, a New at 315 Park Ave. South, on two floors Credit meaningful for me,” said Ornstein. “It speaks to York City private school, since 2009. Suisse previously occupied. In December, the culture we’ve built.” Transwestern represented Eurazeo, a French She is also chairman of the junior board of investment firm, in a lease for its first office in Ornstein also takes pride in serving the Green Chimneys, a nonprofit that provides the U.S. at 745 Fifth Ave. nonprofit sector. Finding space for nonprofits nature-based therapeutic treatment and in New York City can be challenging, given the education for children with special needs. 5,565 SF Ground Floor with 60’ Frontage on Fifth Avenue. Ornstein brings a combination of real estate cost of leasing. However, Ornstein said there Through the program, she has mentored a Space can be divided or extended vertically to the second and third fl oors. experience and marketing smarts to her work. is a solution for everyone. The key, she has young girl for 15 years. Prior to coming on board at Transwestern, found, is tuning into a client’s needs. Ornstein was principal of Centric Real Estate She is also the incoming chair of the Young Advisors, a boutique tenant representation “It’s understanding what motivates the Men’s/Women’s Real Estate Association Exclusive Leasing Agent: brokerage, consultancy and advisory firm. She nonprofit and their board and the constituency of New York, which often gets involved in FAITH HOPE CONSOLO [email protected] started her career in real estate at The Staubach they serve, and finding the right balance— charitable projects around the city. This past Company in 2003, where she was initially always mindful of budget,” she said. Thanksgiving, as part of that involvement, 212.418.2020 director of marketing and later became a broker. Ornstein’s family cooked for people in need. Whether serving private-sector clients or “My two-year-old was washing potatoes,” said Before that, Ornstein worked in the tech sector, nonprofits, Ornstein tries to bring her expertise Ornstein. “It was a great day.” S29 345fifth.com www.faith-consolo.com www.elliman.com

39117CN018131.indd Crains NY 1Business10.25x14.indd 1 1/10/17 2:203:38 PM helped by a number of mentors, of which of mentors, of a number helped by Ratner, Bruce is his father. among them chief and Mary Ratner, City Forest chairman of also were and CEO, president Anne Gilmartin, he said. influential in his career, respect us with tremendous treated “They had accomplished we before and decency and remembered always “I’ve said. he much,” that.” appreciated Multi- Fargo Wells of head group Wiener, Alan Two for financing who handles Capital, family - Walen guide, been a trusted has also Trees, tas has found. a grownup, me like treated “He has always be, to deserve when I didn’t at times probably the things of us in terms out for and looked Walentas. said did,” we - Com Related of president Jr., Beal, Bruce helped him, also have and his team, panies, a on together worked never have though they out looked always have guys “Those project. shared and questions me and answered for he and bad,” both good their experiences me and our broader treated “They’ve said. well.” incredibly here family Much way. in his own back gives Walentas is focused at the moment, his attention, of local options to educational on bringing new includes project Street The Dock children. for public middle school 300-seat a new art and engineering, technology, science, teaching which began studies, math (STEAM) the school “Seeing in September. students proudest my is one of Street open at Dock he said. moments,” be to more is far there believes Walentas But He be- in the city. children educate done to when talking about the impassioned comes - economi from children for in education gaps families. disadvantaged cally fundamental economic the best “I think it’s said make,” can as a society we investment a kid not educating of “The cost Walentas. add up the public You incalculable. is almost rates increased productivity, lost issues, health think about all of you incarceration—when of it will me, to costs, and economic social the real our generation.” of issue the civil rights become and goes and tennis golf he plays unwind, To skiing. he and his where York, New to back Then it’s are Engelbrecht, Kate photographer wife, in 3, and Filo, 5, Theo, children, two raising said York,” in New “I’m born and raised NoHo. our city.” “I love Walentas. ect on the Far West Side of Manhattan “which Manhattan Side of West ect on the Far and in 2008”; the recession built through we Water at 60 project Street the 300-unit Dock in DUMBO. St. Dock Street get the to we tried time “The first a chal- “It was he said. failed,” we rezoned, site screwed That one we meet. didn’t we lenge with Dealing it right. got we before up once a is always and communities government way.” a healthy challenge—in is one of project factory Sugar The Domino In at the moment. priorities key Walentas’s indus- the former acquired Trees Two 2013, for waterfront Williamsburg on the trial site it into convert plans to Walentas $185 million. apartments. 2,800 create and space office park, will include a five-acre The development begun. has already which construction for the complete hope to and his team Walentas 2018. the summer of by park he says Walentas the project, of Regardless in mind. one big goal keep and his team neighborhoods better leave try to always “We done than before,” were our projects off after that every accomplished we’ve “I feel he said. a very there’s In DUMBO, worked. we’ve place ago.” years 20 what it was to contrast stark he has been said Walentas Along the way, in June for $18 million, after being on the being on after $18 million, for June in years. five for market Asked ones. bigger led to projects early Those Walentas challenging, the most which were Fort Green’s near Ashland, 300 off rattles - construc a pure “from Music, of Academy at 300 The development tion standpoint.” 90 among them 390 units, includes Ashland by occupied center a cultural ones, affordable Brooklyn Music and the of Academy Brooklyn also The list and a public plaza. Library, Public - proj House Mercedes the 32-story includes ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING - The Kenneth R. Gerrety Humanitarian Award Humanitarian R. Gerrety The Kenneth

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ed Walentas, principal of Two Trees Man- Trees principal Two of ed Walentas, his passion attributes Company, agement that his parents the fact to estate real for Jed Walentas Young People Educating the City’sEducating Personal Passion:Personal A Real Estate Scion’s Estate A Real S31 His father soon tasked him with building tasked soon His father Trees Two for office a 3,000-square-foot Tow the Clock and converting in Dumbo “It wasn’t so much a conscious decision, decision, much a conscious so “It wasn’t said. Walentas really,” a into at 1 Main Street, nearby er Building, - con building with 124 250,000-square-foot contract into went penthouse The triplex dos. Walentas didn’t work for the family firm the family for work didn’t Walentas the Uni- from graduating after immediately Trump He joined the Pennsylvania. of versity en- when his father However, organization. he business, join the family him to couraged in 1997. on board and came resist didn’t “It is what you talk about at dinner,” said said at dinner,” talk about “It is what you about in the car.” talk what you “It’s Walentas. in New public education in improving Active the a member of is also Walentas City, York Hood Foundation, the Robin of board advisory the and chairman of group an anti-poverty which commissions Time, at Creative board public art projects. and presents The civic inclinations of the Walentas family, who family, Walentas the The civic inclinations of through neighborhood schools to grants provide rubbed also Foundation, Family Walentas their of REBNY’s recipient who is Walentas, off on Award. Humanitarian Gerrity R. Kenneth “When you run a business that affects so that affects run a business “When you ‘being at no real there’s lives, people’s many “It’s Walentas. said ‘not at work,’” or work’ the way That was thing. an all-consuming a From business. the ran of sort parents my in immersed completely I was age, early very and as a two on job sites running around it, old.” year three - Walen David billionaire self-made His father, Trees, Two founded tas, Brooklyn-based - it devel a portfolio and manages which owns than $4 billion, more worth oped that is now include holdings Its ago. 50 years nearly and 3 million apartments, than 2,000 more real and industrial commercial of feet square His in DUMBO. largely City, York in New estate art director a former Walentas, Jane mother, with her husband partnered Lauder, Estée for firm. in running the family took their work home with them. with them. home work their took J Sky’s the Limit Adventureland Dennis Karr | Newmark Grubb Knight Frank

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BRIAN Vice Chairman Chairman Vice (212) 372-2299 [email protected] EVERYWHERE CN018134.indd 1 - ergy to further reduce reliance on the power on the power reliance further reduce to ergy the down coming such technology One grid. - is piezoelectric line in building construction in materials electricity which generates ity, and then be harvested which can flooring like source. as an auxiliary power used buildings from come also will saving Energy in oth- electricity their own that generate senior Ionna, Robert to according er ways, the New of managing director and principal an engineer Hennessy, Syska of office York will individual buildings He predicts ing firm. using locally electricity generate eventually savings energy Further fuel cells. their own on variable reliance increased from will come for which allows technology flow refrigerant through and cooling simultaneous heating Ionna, to according But overall, one system. lies smartbuilding management of the future what that will anticipate technology in sensor it is he says, And, need it. you need before you in the future. not that far - devel technology cellphone fast how “Given years of only a couple probably are we oped, on the making a stamp this really from away everyone “When it does, Ionna. said market,” money.” save to do it, to want to is going that the Ionna notes it will. money And save down each, $5 or $10 is now sensors of cost a just “It’s long ago. not too $1,000 from out the right data points figuring of matter more overall buildings make to analyze,” to said. he and efficient, comfortable - compre that broad-stroke, agrees Ibrahamini applied in smart buildings systems hensive the future. of the wave are badge my scan a building, into “When I walk electric my or park a turnstile, through or go and when I arrive know the building will car, said me,” for waiting will be there the elevator Ibrahamini. revolution technology The smart-building the and for think, than we sooner occur may building not by moment it is being driven and shareholders. but tenants managers, smart to transformation the If anything, entrenched by is being slowed buildings hostage that hold buildings systems legacy Ibrahamini doing things. of ways outdated to will come and developers owners predicts the risk and analyzed have they once around on investment return the potential see can brings. building technology that advanced these of and the normalization new all very “It’s said. Ibrahimi a long time,” take to is going tools and at the mo- a big role, will play “Education out there.” what’s know ment people don’t - building services via comprehensive apps like like apps via comprehensive building services to is designed Digital Ceiling Comfort. Crowd - with building applica connectively be used the board. tions across high tech more even dimming gets Daylight onto coming now glass with programmable it Glass, Dynamic View Called the market. coating metal-oxide an electrochromic uses out sun filter light to with exterior that reacts cloud cover to and adjust glare reduce rays, View, by Developed and nighttime conditions. it has Valley, in Silicon based a company into incorporated been successfully already - com campuses, college hospitals, numerous in the U.S. buildings and government mercial and air station — including a Marine Corps both in California. Base, Sustainability NASA and temperature of control Such customized vast to will lead environments light in interior and less consumption in electrical reductions are But engineers grid. on the energy strain en- of sources up with alternative coming also Crowd Comfort, from Crowd Comfort, Inc. Inc. Comfort, Crowd from Comfort, Crowd moni- comprehensive provides in Boston, an app through spaces commercial in toring their from troubleshoot to users that allows management The app gives smartphones. of problems and photos notification real-time to prioritize staff allowing arising in a building, build- saving and accordingly, and respond and on paperwork costs huge ing owners building allows The information manpower. better to assets of control better managers their tenants. serve - is another com Texas, in Elgin, Hoist, Data smart for multiple systems integrating pany - regu to analytics elevator It uses buildings. and troubleshoot, availability, elevator late on It works advertising. in-elevator customize from in a building, elevators number of any be applied and can bank, an entire to one cab systems. all elevator across Systems’ Cisco California-based Jose, San light site-specific provides Digital Ceiling one step technology sensor ing that takes uses Digital Ceiling it illuminates, As further. - envi the throughout sensors integrated all data and coordinate gather to ronment ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS YORK BUSINESS NEW NEW TO CRAIN’S TO CRAIN’S SUPPLEMENT SUPPLEMENT ADVERTISING ADVERTISING - - - hen it comes to improving energy improving to hen it comes building of and the cost use older York’s New of management

Technology Building Management What’s the Future inWhat’s the What’s New Now and New Now What’s S35 - Radia from Cozy, buildings, residential For of is a smart slipcover in Brooklyn, Labs tor the steam of the power that harnesses sorts in old, the temperature regulate to radiator Controlled buildings. apartment overheated over which is placed the cover, an app, by being heat of the level monitors the radiator, it accordingly. or lowers and raises generated 35%. up to of savings an energy of It boasts ing increased productivity as a collateral as a collateral productivity ing increased Califor Oakland, app from A new benefit. is popular in co-working Comfy, nia-based regulate individual to each It allows spaces. cubicle his or her own of the temperature eliminating the all-too- a smartphone, from staff half the scenario where office common a chill while the other is bundled up against overheat half is peeling off clothing in an automation Comfy’s room. ed conference and raising the costly an end to puts system temperatures. office of lowering Energy efficiency and savings is the goal of goal is the savings and efficiency Energy bring often tools, building technology many “More and more, the internal brain of the build- the of brain the internal and more, “More phone,” your of system the operating ing is like is manager the facilities of “The role she said. function.” an IT of more into evolving According to Mariel Ibrahamini, co-founder and co-founder Mariel Ibrahamini, to According that an annual conference Disrupt CRE, of CEO estate the real for technologies new showcases about a building managing anything industry, as using a smartphone. be as easy will soon Systems now available enable tenants to cus- to enable tenants available now Systems summon in a cubicle, the temperature tomize and adjust their cars park as they an elevator a room. enter they and music when the lights - sys HVAC regulate can Building managers a laun- shut down on and off, turn water tems, and field cameras security monitor dry room, an app. from all remotely tenants, from alerts commercial and residential building stock, building stock, and residential commercial both have or rebuild renew to the choice Updating an older building their advantages. fewer far requires efficiency 21st-century to New it. it and replacing than razing resources a builders gives meanwhile, construction, that technology new implement to blank slate and how perform buildings how revolutionizes or offices. with their residences interact tenants W Sky’s the Limit ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS

Sky’s the Limit Eco-friendly and say passive house criteria add 7 – 8% to the practice leader at Thornton Tomasetti, an cost of construction, but that is recovered in engineering consulting firm in New York City. Green-building Trends energy savings over five to six years. Energy “These aren’t new ideas, there just aren’t consumption can drop by as much as 75 – 80 enough people doing it.” FRESH MOUNTAIN AIR COMES TO NYC opulation density is a constant concern % per year, noted FXFowle’s Kaplan. It is also among urban planners, and as New cost-effective because property owners are If sophisticated products like View Dynamic York City hurtles toward the nine-mil- not spending on boilers, radiators or pipes but Glass, which automatically filters sun and Plion mark, and structures get taller and taller, investing in features like more energy-efficient glare, are out of reach, Hubbard has a more sustainable building methods are becoming windows which are increasingly affordable. low-tech suggestion for commercial space, more the norm than the exception, as they “Put the desks along the window.” once were when programs like the LEED rat- For many property owners, it’s not just about ings system came to the fore back in 2000. energy savings, said Zakrzewski. “Folks who have In almost every sector of building mainte- allergies have fewer of those types of issues in nance and structure, products designed with Local building codes grow increasingly strin- this kind of controlled environment,” he said. sustainability in mind are coming down in gent, calling for more recycled materials in price, making eco-friendly buildings more ac- construction, energy-efficient LED lighting Currently in New York, there is 500,000 cessible to all levels of the market. Matt Palla- and HVAC systems, low-flow toilets, tighter square feet of passive house design under dino, project manager for general contractors control of water runoff and more exposure to construction, and 2.3 million square feet of EW Howell, based in Long Island City, noted natural light and better air quality for resi- passive house structures in the design phase, how ubiquitous low-flow and dual-flow toilets dents and office workers. Courtyards, green said Zakrzewski. That is up from only 20,000 have become since their prices plummeted. roofs and setbacks with lushly landscaped square feet five years ago, the Zakrzewski said. Likewise LED bulbs, the cost of which has common terraces reinforce the notion that dropped by 75%. Palladino credits the public green is good and that we should all do our The City of New York is a big proponent of sector with driving the trend by mandating part to preserve the environment. passive house desing, issuing numerous RFPs their use. for compliant affordable housing, among And while subway platforms and sidewalks may other projects. Zakrzewski predicts that blow- “Municipalities adopt the standards first then seem perilously crowded, high density may be er-door testing will be mandated citywide as the private sector can ride the coattails to best for sustainability, according to architect early as next year. reap the benefits of lower cost and quicker Dan Kaplan, senior partner, FXFowle Architects. return on investment,” he said. A dormitory on the Cornell Tech campus on “It’s pretty clear at this point that concentrat- Roosevelt Island is also slated to be built un- Incorporating nature into building design is ing folks in the city to use the shared resources der passive house design standards. “It is the also something of a new standard, whether it of infrastructure, energy, water and roads has wave of the future,” said Kaplan. be new construction with beautifully orches- the lightest impact on the environment,” said trated, landscaped setbacks on multiple Kaplan, whose firm designed Circa Central floors, or renovations that turn the once-ne- Park, an 11-story mixed-used residential build- glected roofs of 100-year-old warehouses ing designed to manage natural light as effi- into green roofs, common areas or vegetable ciently as possible and maximize park views. gardens. The purpose is twofold: enhancing WE ARE PROUD TO BE THE quality of life through exposure to green The green-building trend getting the most plants while keeping rainwater from becom- ST buzz is “passive house” design. This is a ing undesirable runoff that gets discharged system whereby a structure functions as a across pavements. 1 hyper-sealed envelope encapsulating a highly NYC BUILDING WITH stable environment with little variation in At Via Verde, a low-income complex in the temperature. To measure the airtight efficien- Bronx developed by Jonathan Rose Com- PROVEN BREAKTHROUGH cy of the seal, a giant fan either blows air into panies, residents cultivate vegetables on AIR PURIFICATION TECHNOLOGY the home or building, or pulls air out of it, in the roof. Circa Central Park was designed what is known as a blower-door test. This pin- Another energy-saving trend coming to the to expose nature to residents by providing points the amount and location of air entering fore involves more-efficient use of light and views of the park, a large courtyard, a rooftop Fresh air means a healthy, happy and escaping through openings like window heat from the sun. Increasingly, new build- lounge and three-level outdoor space. In Dan and door frames, PTAC units (through-the- ings are being oriented to take maximum Kaplan’s view, living with access to greenery, more productive work environment. wall air conditioners), or cracks in masonry. advantage of sunlight throughout day. Con- daylight and sky is critical to the well-being Whether newly constructed or renovated, the structing a building so that it faces the sun of city dwellers and key to perpetuating the most successful passive house buildings have at its strongest intensity can reduce reliance important notion of sustainability. He called it the lowest level of air loss and therefore the on mechanical heating systems, while canny the architectural mission of our time, which is Kamber lowest variations in temperature, according to use of design features like vertical sunshades a unique period in the history civilization. Management Stas Zakrzewski, founding principal, Zakrze- or ordinary blinds can keep a space cool and Company LLC wski + Hyde Architects, who is also a member reduce air-conditioner use. Solar orientation “In the pre-modern world, humankind was in of the board of the nonprofit advocacy group also exploits the use of natural light, likewise opposition to the natural world which seemed New York Passive House. saving money on energy. scary and dangerous,” said Kaplan. “Mod- ernism and the Industrial Revolution were all Less variation in temperature means less “Orienting a building to the climate and using about conquering the natural world, while the For inquiries regarding units 1,500 – 26,000 rsf please contact: Exclusive fuel consumption—a savings for the environ- the sun wherever possible should be a driver,” current post-industrial phase is about living in Leasing Agent: ment as well as on an energy bill. Estimates said Gunnar Hubbard, principal sustainability harmony with it.” Mitti Liebersohn Arthur Mirante Michael Gottlieb James Lizmi Nathan Kropp Gregory E. Kraut S37 212.729.7734 212.729.1896 212.729.6809 212.729.4857 212.858.9361 212.729.3203 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]

CN018127.inddKAMBER 16-0004 1 Crains full_10.875x14.5.indd 1 10/24/161/6/17 11:33 6:36 PMAM Some closed transaction in 2016 MOVING FORWARD Over $1.5 Billion In Deals on MANY FRONTS Thank you to all who helped make it happen…

We are actively seeking to participate in SOLD SOLD SOLD SOLD investment partnerships or acquire Rego Park, NY Brooklyn, NY East Harlem Portfolio Bronx, NY properties for our own account. $136,000,000 $161,000,000 $347,500,000 $140,000,000 16 Story Elevator Bldg 8 Story Office Bldg 47 Buildings Portfolio Sale Our range of activities include 418 Residential Units Office Redevelopment 1,130 Residential Units 38 Buildings 2 Commercial 550,000 SF 51 Commercial 938 Residential Units Ownership 503,000 SF 712,500 SF 24 Commercial Strategic Acquisitions

Agency Representation SOLD SOLD SOLD SOLD SOLD Tenant Representation Atlantic City, NJ Manhattan, NY Manhattan, NY Manhattan, NY Bronx, NY $14,650,000 $36,000,000 $14,875,000 $34,400,000 $84,000,000 Property Management 251 Residential Units 6 – 5 Story Walkup Bldgs 8 Story Elevator Bldg 3 – 5 Story Walkup Bldgs 25 Story Elevator Bldg Garden Style Complex 136 Residential Units 44 Residential Units 58 Residential Units 383 Residential Units HAP Contract 7 Stores 4 Commercial 5 Stores 416,000 SF 100,000 SF 60,000 SF 52,000 SF HAP Contract

SOLD SOLD SOLD SOLD SOLD Manhattan, NY Manhattan, NY SOLD Brooklyn, NY Bronx, NY $39,000,000 $16,000,000 $21,500,000 $17,000,000 $26,000,000 3 – 6 Story Elevator Bldgs 6 Story Elevator Bldg Brooklyn, NY 6 Story Elevator Bldg 2 - 9 Story Elevator Bldgs 130 Residential Units 55 Residential Units 6 Story Elevator Bldg 60 Residential Units 98 Residential Units 135,000 SF 58,000 SF 28 Residential Units Parking Garage Affordable Housing 4 Commercial 70,000 SF 95,000 SF

SOLD SOLD SOLD SOLD SOLD Brooklyn, NY Bronx, NY SOLD Brooklyn, NY Manhattan, NY $36,000,000 $9,075,000 $9,000,000 $3,770,000 $11,450,000 3 – 5 Story Elevator Bldgs 3 – 5 Story Walkup Bldgs Bronx, NY 2 – 5 Story Walkup Bldgs 5 Story Walkup bldg. 144 Residential Units 76 Residential Units 4 – 5 Story Walkup Bldgs 14 Residential Units 41 Residential Units HAP Contract 5 Parking Spots 57 Residential Units 3 Commercial 5 Commercial Scott Galin, Principal 125,000 SF 49,000 SF 52,000 SF 15,000 SF 40,000 SF 646.747.4688

Steven Vegh Direct: 212 335 0797 Handler-re.com [email protected] westwoodra.com

HRE-1145 Handler Corporate 2017 REBNY Crains_10.875x14.5.indd 1 1/4/17 10:45 AM CN018121.indd 1 1/6/17 6:29 PM ADVERTISING SUPPLEMENT TO CRAIN’S NEW YORK BUSINESS

Sky’s the Limit REBNY SNAPSHOT: NYC REAL ESTATE MARKET A Market In Transition: Changing conditions shape the residential and retail sector

11% Growth in Average Residential Home Sales Price 3Q2015 vs. 3Q2016

24% 8% 7% 6% 3% Avg. price Manhattan Brooklyn Staten Island Queens Bronx

STILL RISING (in thousands) $1,997 $891 $466 $523 $400

SOURCE: REBNY 3rd Quarter 2016 New York City Residential Sales Report

”The market is really strong for two-, three- and four-bedroom homes. There are people who see their choices and are making rational decisions. They are looking at prices and floor plans, deciding what is best for them and buying.” — Joseph Cohen, principal and co-founder, East River Partners.

Manhattan Retail Corridors Undergo Shift $13.6 billion Average asking rent: Available ground floor space only Posted by NYC residential sales Fall 2015 vs. Fall 2016 market for citywide total consid- eration 3Q16, a new all-time high

SOURCE: REBNY Statistical Abstract 2016 20% 8% 5% Financial Columbus Ave. Fifth Ave. 12,293 District 66th-79th Street 42nd-49th Street The number of housing permits from from $375 to from issued through October 2016, $308 to $403/sq. ft. $1,203 to down from 56,248 in 2015 $369/sq. ft. $1,259/sq. ft. SOURCE: REBNY Statistical Abstract 2016

-23% -11% -11% -18% Broadway West 34th Street: Madison Ave. Drop in REBNY’s Real Estate 14th-23rd Streets 5th and 7th Avenues 57th-72nd Streets Broker Confidence from $510 to from $836 to from $1,613 to index from $390/sq. ft. $745/sq. ft. $1,433/sq. ft. 2Q2016 (7.04) to 3Q2016 (5.79)

SOURCE: REBNY 3rd Quarter 2016 Broker Confidence Index Report SOURCE: REBNY Manhattan Retail Report Fall 2016 Fall Report Manhattan Retail REBNY SOURCE: S41