Special Advertising Section

PS001_CN_20140113.indd 1 1/9/14 3:12 PM New York’s Real Estate Community: Like No Other Special Advertising Section

A NOTE FROM OUR PUBLISHER The real estate industry in New York is unlike any other in the world: spectacular architecture, iconic buildings, a storied skyline and a consortium of talented professionals who all coalesce to create a bustling and philanthropic business community. To celebrate this distinct group, Crain’s Custom Connections Studio has created this special section, dedicated to showcasing what makes this community tick. In the first article, which starts on Page S4, Crain’s Custom Connections Studio will take a deep look at the philanthropy of the real estate industry, and how marquee-name CEOs and presidents are giving back to their city in the form of generous donations and stunning renovations. We then look on Page S6 at REBNY’s pivotal role in the real estate industry - from creating a sense of community and advocating for its needs to providing educational programs and curating a robust database of real estate information. The last section is a series of interviews with real estate professionals who discuss their thoughts

Special Advertising Section on the industry, their ideas for the year ahead and how the real estate landscape will continue to evolve in an ever-changing marketplace. We hope you enjoy New York’s Real Estate Community: Like No Other, and if you have any thoughts or comments, please reach out to us. We love hearing from our readers. Best,

Jill Kaplan V.P. & Publisher Crain’s New York Business

TABLE OF CONTENTS

S2 Introduction S17 TF Cornerstone S3 New York University S18 Goulston + Storrs S4 In , the Real Estate Industry’s S19 Cushman & Wakefield Philanthropy is a Matter of Course S20 Douglas Elliman S5 U.S. Green Building Council S21 EVO Real Estate Group S6-10 The Real Estate Board of New York: Serving a Community Vital to the City’s Prosperity S23 The Vortex Group LLC S7 Avison Young S25 Paragon S8 Paramount Building – 1501 S26 The Marino Organization S9 3 Hudson Boulevard S27 Sherwood Equities S11 Lee & Associates S29 Jack Resnick & Sons S12 Moinian S30 Handler Real Estate Organization S13 Emerge 212 S31 PI Capital S14 CBRE S33 Jones Lang LaSalle S15 The S35 SL Green S16-36 Interviews with Industry Executives and Veterans S37 Silverstein Properties

New York’s Real Estate Community: Like No Other is published by Crain’s Custom Connections Studio. For more information, please contact Trish Henry at (212) 210-0711 or [email protected]. The digital edition can be viewed online at crainsnewyork.com/realestate2014. S2

PS002_CN_20140113.indd 1 1/9/14 5:33 PM What does it take to move ahead in real estate & construction?

Determination, discipline, and the hunger Spring Course and Certificate Highlights Include: to succeed. Financial savvy, strategic Commercial Real Estate Credit Analysis: vision, and a strong professional network. * !./0* %*#ƫ/$ƫ(+3ƫđƫ(+(ƫ The acquisition of new knowledge and !(ƫ/00!ƫ.*/ 0%+*/ƫđƫ!.0%ü 0!ƫ%*ƫ Commercial Property Management the ability to deliver properties and !.0%ü 0!ƫ%*ƫ+),10!.ġ% ! ƫ!/%#* projects on time and within budget. Using AutoCAD and more!

The NYU School of Continuing and On-site, online study options Professional Studies Schack Institute of Register for Spring Real Estate delivers world-class, noncredit scps.nyu.edu/x635 programs in real estate and construction 212-998-7150 that push boundaries, broaden horizons, and provide outstanding education in a Attend an Information Session way that only NYU can. Thursday, January 23 Construction: 5:30–6:30 p.m. Real Estate: 6:30–7:30 p.m. Midtown Center - 11 West 42nd St. scps.nyu.edu/x635/events

That’s what it takes.

New York University is an affirmative action/equal opportunity institution. ©2014 New York University School of Continuing and Professional Studies. New York’s Real Estate Community: Like No Other Special Advertising Section

IN NEW YORK CITY, THE REAL ESTATE INDUSTRY’S PHILANTHROPY IS A MATTER OF COURSE

The city’s iconic museums, performing arts centers and non-profits all benefit from a generous real

estate community The real estate titans who develop and manage the the KIPP NYC College Prep, a charter high school in buildings that define New York City are also pillars of . The foundation has also raised nearly $80 philanthropy. They sustain and strengthen a wide-range million over the last quarter century to fund the grants of non-profits by not only providing generous financial for its projects. support, but also sharing their resources and expertise. Annual unrestricted contributions from real estate At , a $10 million gift from Judith Res- leaders total about $50 million for UJA-Federation of nick and Burton Resnick – chief executive officer at New York, said Mark Medin, a senior vice president. Jack Resnick & Sons, Inc. – is part of the more than That helps 100 agencies across the metropolitan area $205 million raised towards the $224 million renova- provide human, educational and leadership services. tion of the Studio Towers atop the landmark building. The overhaul, to be completed this year, includes new “The real estate community is among the most, if not ensemble rooms, practice rooms and teaching studios, the most, committed, long-term philanthropic element said Susan Brady, director of development at Carnegie of the New York Jewish community when it comes to Hall. the UJA- Federation as with much of the New York philanthropic community,” Mr. Medin said. Similarly, at Lincoln Center, Tamar Podell – the senior vice president of planning and development – called Larry Silverstein, the chief executive officer of Silver- its 40-year-old real estate development council “a true stein Properties, is among the major players “who give partner in our evolution and development.” The council themselves as mentors, leaders and role models to has raised more than $23 million for the arts organiza- encourage others to become active in supporting UJA,” tions and training academies on the 16-acre campus. Mr. Medin added.

“They made a huge difference, providing unrestricted At the newly expanded Queens Museum in Flushing operating support” that keeps the lights on and helps Meadows-Corona Park, a fundraising campaign asks Lincoln Center bring performing arts programs to developers to “ adopt” for “tens of thousands of dollars” schools, libraries and other communities, Ms. Podell or add models of their new buildings to the 895,000 said. structures in the museum’s 9,500-square-foot Pan- orama of the City of New York, said Tom Finkelpearl, Support from the real estate industry to help the Robin president and executive director. Hood Foundation’s 240 poverty-fighting organizations “is immeasurable,” said Susan Sack, the managing The campaign, which supports educational program- director of real estate. “The real estate community has ming, “has been quite attractive to the real estate com- come in, time and time again,” with expertise to nego- munity,” he said. To date, the real estate industry has tiate a lease, design a building or find the right contrac- brought in about $30,000 of the $100,000 raised. tor, Ms. Sack added. And in choosing to renovate the miniature Battery Park Pro bono help from The Georgetown Company, a City or build a Lilliputian model of the new Yankee Sta- developer, along with reduced fees from the architec- dium, the real estate community upholds its tradition tural firm Gensler and the design consultancy Penta- of enriching the city with its visionary philanthropy. gram, made it possible last fall for Robin Hood to open

S4

PS004_CN_20140113.indd 1 1/9/14 3:14 PM Global leaders like Skanska are using the LEED® green building program to meet their business goals. Better buildings, better business.

Beth Heider Senior Vice President of Green Markets Skanska USA

usgbc.org/LEED

CN016378.indd 1 1/7/14 10:29 AM New York’s Real Estate Community: Like No Other Special Advertising Section

THE REAL ESTATE BOARD OF NEW YORK: SERVING A COMMUNITY VITAL TO THE CITY’S PROSPERITY

REBNY wears countless hats on behalf of the real From the two-family homes that dot Staten Island to “We are non-partisan and support candidates that are the that line the island of , the pro-good job creation and pro-environment that would estate industry – city’s real estate industry continues to leave its enduring generate investment for the city of New York,” said signature on residential and commercial landscapes. Mr. Spinola.

from teacher to Fostering a sense of community within the industry And with real estate accounting for 34 percent of the and lending a voice to their concerns in its working locally-generated tax revenues, “the city is dependent advocate to reporter relationships with the city and state – as well as provid- on the real estate industry,” Mr. Spinola added, “and we ing the information, professional tools and networking are dependent on the city. Our objective is to make sure gatherings critical to development, ownership, manage- the city continues to grow so that the 34 percent can ment and brokerage – is the 118-year-old Real Estate continue to rise.” Board of New York (REBNY). A GUIDE TO REBNY’S SERVICES “We bring together every element of real estate – resi- dential and commercial brokerage, owners, managers, Meeting the Industry’s Needs financial institutions, attorneys, architects and plan- A multi-faceted association, REBNY provides a pletho- ners,” said REBNY President Steven Spinola. “And at ra of services. Here’s a snapshot of its activities: different times, every element is sitting in the room, Brokerage Services oversees all issues and meetings sharing their efforts and making it a better and more associated with commercial and residential brokerage. professional industry.” Within commercial and residential brokerage are more As a trade organization, REBNY enables members to than 27 standing committees organized by geographic stay abreast of issues and trends important to their location, according to Eileen Spinola, senior vice presi- work. Its efforts encompass running accrediting licens- dent of brokerage services and education. Meetings are ing programs, seminars and panel discussions, as well opportunities to share timely information about devel- as producing real estate market reports. And last year, opments or trends in specific areas and exchange ideas it implemented a transmission system that updates for strengthening or overcoming a challenge in the shared residential listings every hour. locale. The meetings also facilitate networking among As an advocacy organization, REBNY articulates the members working in those locations. real estate community’s concerns, providing input in Among its other efforts, commercial brokerage bestows the city’s direction and policies, from recommending awards for “The Most Ingenious Deal of the Year for incentive programs that helped in rebuilding Lower Sales and Leasing,” “The Most Ingenious Deal of the Manhattan after 9/11 to proposing ways to protect Year for Retail” and “The Most Promising Commercial buildings from storms following Hurricane Sandy. Sales Person (Rookie) of the Year.” Additionally, “The REBNY’s advocacy work is informed not only by its Louis Smadbeck Memorial Broker Recognition Award” members’ experiences, but also by top experts in vari- pays tribute to a commercial practitioner for lifetime ous fields, such as planners and attorneys specializing achievement. For commercial retail, REBNY bestows in zoning issues. two “Most Ingenious Deal of the Year” awards – one Last year and for the first time ever, REBNY – through for creativity and the other for impact upon an area. its Jobs for New York committee – actively supported Within the residential division, REBNY presents “The 22 city council candidates in local races, with 18 elected Most Ingenious Deal of the Year for Sales and Rent- to office. als Award,” “The Henry Foster Lifetime Achievement

(continued on S10) S6

PS006_CN_20140113.indd 1 1/9/14 6:29 PM A Different Approach To New York Real Estate Avison Young thanks our clients for their confidence in our professionals which made our first year in business in New York a great success.

Avison Young is a different kind of commercial real estate company. Our culture and Principal-led collaboration translates into a better client experience – and better results.

Serving owners and occupiers from 53 offices across the U.S. and Canada.

Partnership. Performance. www.avisonyoung.com HISTORY REMASTERED

$50 MILLION CAPITAL PROGRAM

,QWHULRU)LQLVKHV‡(OHYDWRUV‡$GGLWLRQDO/REE\(QWUDQFHRQUG‡1HZ:LQGRZV

ZZZSDUDPRXQWEXLOGLQJFRP

For more information and leasing inquiries, please contact the Avison Young team:

Arthur Mirante Michael Gottlieb David Cohen Thomas Hines Principal; Tri-State President Principal Senior Associate Associate 212.729.1896 212.729.6809 212.729.3751 212.729.4296 [email protected] [email protected] [email protected] [email protected] SOMETHIN G’S NEW UNDER THE SUN

NEW YYORK’SORK’S MMOOST INNOINNOVATIVETIVE LEED PLATINUM OFFICE TOWER

Congratulations to This Year's Honorees. We look Forward to a Successful 2014.

s At the new No. 7 Subway Station.

s Anchoring Hudson Boulevard Park.

s On a full city block between 34th and 35th Streets/ 11th Avenue.

s Across the Avenue from the High Line and Javits Center.

Exclusive Leasing Agent

Arthur J. Mirante II Michael Gottlieb Anthony LoPresti 212.729.1896 212.729.6809 212.729.3901 [email protected] [email protected] [email protected]

World-Class Development Team

CN016409.indd 1 1/9/14 11:51 AM New York’s Real Estate Community: Like No Other Special Advertising Section

(continued from S6) Award” and “The Most Promising Residential Sales Publications produces Diary & Manual, an annual Person (Rookie) of the Year Award.” book that includes REBNY committees, a complete ros- ter of REBNY members and the organization’s services, Education encompasses professional development and also covers issues like code of ethics and practices initiatives, including a formal continuing education and land-use regulations. The department also pro- program for licensed agents and qualifying courses duces the annual journal for the gala banquet, which it to become licensed agents. It also offers coursework organizes, too. for attaining the designation of New York Residential Specialist and Certified Negotiation Expert. Plans are Public Affairs collaborates with government affairs underway to launch coursework for Certified Buyer and other departments to advance issues important Representative in the spring and Certified Commercial to REBNY’s membership, according to Jim Whelan, representative in the fall. senior vice president of public affairs. The department addresses big picture policy and political issues facing Management Services keeps members informed on the industry, including assembling coalitions of diverse important matters – from best practices to new regula- members to partner on common priorities, such as job tions – through committee meetings, special seminars creation, landmark reform and smart-growth policies. and guest speakers. And with REBNY members providing the lion’s share of private-sector unionized construction jobs and Last year, REBNY formalized the new sustainability unionized building service workers, Public Affairs is committee, whose activities range from advising the developing additional strategies for helping to facili- city on pertinent issues and bills to supporting a 30 tate the creation of good jobs and housing for all New percent reduction in carbon emissions, according to Yorkers. Angela Pinsky, senior vice president of management services. Research offers members not only a database of real estate information, but also prompt responses to phone As a primary liaison between different levels of govern- calls on everything from a property’s size and tax as- ment and owners and managers, management services sessment to its landmark status. It also issues a quar- assists city agencies in formulating new policies and terly, citywide residential sales report and a bi-annual regulations by providing additional expertise. The retail report on major Manhattan corridors – and last department also helps members navigate different year, it created two reports on New York City land- agencies for their individual projects, and it pursues mark-designated areas that showed impact of land- policy reform to address systemic concerns. marking on housing development. The division looks forward to creating positive and Looking ahead, research will focus on housing produc- open relationships with the new mayor and the city tion, with particular attention on developing affordable council, said Ms. Pinsky, and also submitting proposals units. to facilitate the industry’s ability to satisfy the mayor’s property development agenda. “It’s an important city need, and important for our industry to build housing that meets that need,” Membership expedites applications to join REBNY said Michael Slattery, senior vice president in charge and responds to members’ inquiries. Within REBNY, of research. there are different levels of membership, but “there’s something available for anyone who wants to join,” said Maryann Aviles, vice president of membership and publications. S10

PS010_CN_20140113.indd 1 1/9/14 3:16 PM CN016380.indd 1 12/26/13 1:49 PM 180 Maiden Lane 245 3 3 Hudson Boulevard The Moinian Group CONGRATULATES THIS YEAR'S HONOREES AND GIVES A SPECIAL THANKS TO OUR BROKER PARTNERS FOR ALL OF THEIR HARD WORK WE LOOK FORWARD TO A SUCCESSFUL 2014

Avison Young Thomas P. Reilly & Co. Prime Manhattan Realty Cassidy Turley Bold Realty Corp Roberta Panos CBRE Group Murr ay Hill Properties Rudder Property Group Colliers International Kaufman Leasing Company Savitt Partners Cushman & Wakefield Benchmark Properties Studley Hank McManus Real Estate Jones Lang Lasalle Tarter Stats O’Toole The Lawrence Group Transwestern Coldwell Banker Commercial Newmark Grubb Knight Frank Fountain Realty Group Platinum Realty Group Norman Bobrow & Co. Williamson Picket Gross

The Moinian Group t 3 Columbus Circle t 23rd Floor

New York, NY 10019 t 212.808.4000 t www.Moinian.com

Gregg Weisser SVP ext. 252 t Michael Leary VP ext. 227

Isabelle Sedghi VP ext. 277 t Matthew Klimberg Asst. VP ext. 571

450-460 South 535-545 Fifth Avenue Battery Place North and South 60 TWO MONTHS FREE* BY MENTIONING THIS AD Expires 2/28/14

28 West 44th Street 125 Park Avenue 3 Columbus Circle Turn-Key Manhattan Oce Spaces for Rent! New York City. It’s the place to be for your innovative, growing, ahead-of-the-curve business. Be smart and avoid spending time, energy and resources on a traditional Manhattan oce lease. Emerge212 Boutique Oce Space gives you the Class A-quality Midtown oce space you want in a turn-key solution. Ideal for small businesses, satellite oces, swing space, outsourcing, up-and-coming entrepreneurs, solo professionals, short-term disaster recovery and more. Emerge212 Boutique Oce Space oƒers three prestigious Manhattan locations. Focus on what you do best and be surrounded by other visionary companies. Learn about the advantage and the experience of Emerge212 Boutique Oce Space for your business. Not ready for an oce? Check out our Boutique Virtual Space solution.

Advantages Services Technology Fully furnished, fully wired, fully serviced Comprehensive menu of business services State-of-the-art technology infrastructure Flexible/custom lease terms Support from onsite concierge Fully redundant voice & data platform A variety of suite configurations Conference rooms, coƒee lounges, wet bars VoIP Phones with a variety of features Exquisite build-outs in Class A buildings Live call answering & forwarding Support from onsite IT team

Fully Furnished. Fully Wired. Fully Serviced. Call Now: 888.572.3793 emerge212.com Emerge212 Boutique Space is a wholly owned subsidiary of SL Green Realty Corp. *Oer valid on 12 month term

CN016298.indd 1 11/29/13 12:35 PM New Year

a year of promise is ahead. New developments will recast our skyline. Transportation solutions will streamline our commutes. Technological innovations will enhance our connectivity. Commercial real estate has been a force like never before in helping our city prosper. we see the expanding horizon ahead—and it’s a beautiful thing. New York

#1 in real estate services worldwide www.cbre.com/nyc 212.984.8000

CN016390.indd 1 1/7/14 10:39 AM TWe arehank grateful to our tenants and the New YYoork brokerage communityu for your support during the past year.

Douglas Durst Jonathan Durst

We especially acknowledge the following individuals and firms with whom we worked closely in 2013: David Berke Zachary Price CUSHMAN & WAKEFIELD CBRE Keith Cody Ken Rapp CBRE CBRE Chris Corrinet Michael Rizzo CBRE CBRE Joseph DeRosa Laurence Roberts STUDLEY ARCH BROKERAGE Rob Eisenberg Bob Savitt NEWMARK GRUBB KNIGHT FRANK SAVITT REALTY Nicholas Farmakis Ira Schuman STUDLEY STUDLEY David Glassman Philip Silverstein CUSHMAN & WAKEFIELD SILVERSTEIN SOLUTIONS Jared Horowitz Steven Strati CUSHMAN & WAKEFIELD CUSHMAN & WAKEFIELD Jeffrey Kilimnick Tatiana Tarassenko CBRE STUDLEY Tatsuru Kono Wayne Van Aken NEWMARK GRUBB KNIGHT FRANK CASSIDY TURLEY Robert Kluge Edward Weiss CBRE CUSHMAN & WAKEFIELD Gary Linder Mark S. Weiss NEWMARK GRUBB KNIGHT FRANK NEWMARK GRUBB KNIGHT FRANK Michael Liss Nicholas Weld CBRE CBRE Phil Metzidakis Steve Winter JANSIZIAN GROUP CBRE Chris Mongeluzo Robert Yaffa NEWMARK GRUBB KNIGHT FRANK CASSIDY TURLEY Silvio Petriello Brett J. Zelner CBRE LCB26 ENTERPRISES Michael Poch Ross Zimbalist CBRE CBRE

Member · ONE BRYANT PARK · 4 · 1133 AVENUE OF THE AMERICAS · 1155 AVENUE OF THE AMERICAS ®

114 WEST 47 STREET · 655 · 675 THIRD AVENUE · 733 THIRD AVENUE · 825 THIRD AVENUE · 205 EAST 42 STREET REAL ESTATE BOARD OF NEW YORK www.durst.org

CN016394.indd 1 1/7/14 10:43 AM New York’s Real Estate Community: Like No Other Special Advertising Section

INTERVIEWS WITH INDUSTRY EXECUTIVES AND VETERANS The real estate community is made up of a vast number of professionals who span multiple verticals and each have unique skill sets that bring value to their organization. In this section, Crain’s Custom Connections Studio interviewed past REBNY rookie of the year award winners, executives and veterans of the New York City real estate scene and asked them to share their thoughts on market opportunities, predict upcoming challenges and growth potential, sound off on the intersection of real estate and technology and more. Additionally, these real estate leaders share their personal stories and advice, such as what drew them to the New York City sphere, and how clients can pinpoint the perfect broker for their specific needs. Read invaluable wisdom from leaders like Randy Modell, Investment Sales Professional at Ariel Property Advisors; James Nelson, Partner, Massey Knakal; David Stockel, Associate Director, Cushman & Wakefield; Stephen C. Winter, Vice President, Related Companies; and Simon Ziff, President, Ackman-Ziff.

What prompted your entry into real estate? What are the top three qualities clients should con- During college, I spent my summers interning at a real sider when searching for a broker? estate company and fell in love with the physical, tangi- Firstly, and most importantly, clients should find ble characteristics of the industry. You can see it, touch someone who exhibits honesty and integrity. Secondly, it and improve it – and actually see the results. they should seek a broker who is hungry and eager to succeed on the client’s behalf. Thirdly, clients should What’s the largest deal you’ve done in your career so look for a successful track record of negotiating and far? closing transactions. I’m working on it now, so I can’t actively discuss the deal, but prior to this my largest was the sale of a What advice would you give to someone who is inter- 130,000-square-foot office building at 160 Fifth Avenue. ested in becoming a real estate broker? Find a senior broker who is honest, well-known in the Who is your role model in the industry? Why? industry and willing to take on and mentor a junior I admire the self-made individual—anyone who started broker. The knowledge and guidance of a veteran is an at home plate without contacts, family backing or unmatched resource when starting off in the real estate special connections, but managed to build a successful industry. Ariel Property career in real estate. Bio Advisors How is being a broker in New York City different Randy Modell joined Ariel Property Advisors as a Vice from being a broker elsewhere? President of investment sales in 2012. He is responsible The competition in New York City real estate is fierce for executing sales of the company’s exclusive listings – definitely more so than in other major metropolitan and business development initiatives in Manhattan areas around the nation. To succeed as a sales profes- below 96th Street. sional you must be tenacious and continually striving to be the best. Mr. Modell began his real estate career at ABS Partners in January 2001 where he assisted the firm’s principals How is technology changing the work you do? in all aspects of acquisitions, leasing, and management Technology enables me to gather the latest market for their in-house portfolio, and handled numerous information, stay organized and work deals more effi- investment sales and retail and office tenant repre- ciently on a daily basis. sentative assignments. He also served as a consultant for several high net worth clients of the firm, assisting What neighborhoods in the city represent hidden them with leasehold and minority interest valuations RANDY gems, and why? and strategies. The Upper East Side, from Lexington to the East River, MODELL, offers a great deal of opportunity for land assemblages In 2006, Mr. Modell’s brokerage activity was recognized and development. The avenues are zoned with a high by the Real Estate Board of New York (REBNY), which Floor Area Ratio (FAR), and the vast majority of the presented him with the coveted Young Broker of the properties aren’t landmarked or located in a historic Year Award. INVESTMENT district. After leaving ABS in 2010, Mr. Modell joined Extell What are the biggest opportunities/challenges the Development where he assisted developer Gary Barnett SALES real estate community faces in 2014? in site assemblages, tenant buyouts, and off-market The biggest challenge will be interest rates—when acquisitions. they will rise, how quickly, and how that will impact PROFESSIONAL the market. The biggest opportunity will be economic Mr. Modell earned a master’s of science degree in Real growth, which has picked up over the last several Estate Development from the quarters and could help property values despite in- Graduate School of Architecture, Planning, and Preser- creasing rates. vation, and a bachelor’s degree in Finance from Yeshiva Ariel Property University. He is a member of the Young Men’s/Wom- What’s the outlook for the residential market in en’s Real Estate Association of New York and REBNY, Advisors 2014? where he also has served as an instructor for continu- The population of New York City is growing, so the ing education courses. demand to either rent or buy housing will remain great in the New Year. The challenge, then, will be develop- Originally from Michigan, he lives with his wife, Re- ing enough housing to keep up with demand – and becca in the Upper West Side of Manhattan. He can be also offering housing alternatives that meet a variety of reached at 212.544.9500, ext 17 or via email at income levels. [email protected]. S16

PS016_CN_20140113.indd 1 1/9/14 4:43 PM WE ARE PLEASED TO ANNOUNCE RECORD-BREAKING 2013 LEASING ACTIVITY THROUGHOUT OUR NEW YORK PORTFOLIO. THANK YOU TO THE FOLLOWING TENANTS & THEIR PARTICIPATING BROKERS.

OFFICE RETAIL PARKVIEW INTERNATIONAL INC. 101 MAIDEN LANE CBRE | Silvio Petriello, Nicholas Weld TRES CARNES 152 WEST Winick | Steven Baker, Kenneth Hochhauser SCOPIA CAPITAL MANAGEMENT LLC J.W. Burke Realty | Jonathan W. Burke ABC MANAGEMENT CORP. Studley | Erik Schmall, Michael Mathias Newmark Grubb Knight Frank 95 HORATIO Howard Kesseler Jr., Jordan Gosin THORNE RESEARCH, INC. BY KILIAN CBRE | Ben Friedland, Rob Kluge, RKF | Karen Bellantoni, Beth Rosen ALTAI CAPITAL MANAGEMENT LP Adam Shultz CBRE | Sinclair Li, Conor Denihan 200 WEST 26TH STREET CHELSEA PEDIATRIC DENTISTRY WALTON INTERNATIONAL ASIAN CENTURY QUEST Winick | Steven Baker, Aaron Fishbein GROUP (USA), INC. CAPITAL, LLC Masserano Real Estate & Consulting | John Masserano Interactive Properties | Michael Elkin CBRE | Ben Friedland, Jared Freede 4545 CENTER BLVD WINVEST ADVISORS I LOVE KICKBOXING ASPERION GROUP LLC NORTH AMERICA, LLC Winick | Steven Baker, Aaron Fishbein Newmark Grubb Knight Frank Murray Hill Properties | Marc Miller RKF | Jonathan Krieger Robin Fisher, Taylor Scheinman WOLVERINE WORLD WIDE, INC. MIMI & MO BELVEDERE CAPITAL Winick | Steven Baker, Aaron Fishbein Newmark Grubb Knight Frank MANAGEMENT LLC Chris Mongeluzo, Eric Zemachson NEW YORK KIDS CLUB Newmark Grubb Knight Frank Winick | Steven Baker, Aaron Fishbein David Falk, Kyle Ciminelli 645 MADISON AVENUE NCO Ltd. | Neal Ohm COMBINATORICS CAPITAL, LLC 60TH STREET QUIK PARK Newmark Grubb Knight Frank Ace Capital | Howard Greenberg Jamie Jacobs, Brittany Silver BASSWOOD PARTNERS, L.P. Newmark Grubb Knight Frank 4610 CENTER BLVD DSA REALTY SERVICES LLC Chris Mongeluzo, Eric Zemachson RBT RESTAURANT MHP Commercial Brokerage Services Winick | Steven Baker, Aaron Fishbein Daniel Lolai FALCONHEAD CAPITAL, LLC Signature Partners | Harris Bulow Jones Lang LaSalle 23 EAST 10TH STREET GAIA REAL ESTATE HOLDINGS, LLC Alexander Chudnoff, Adam Haber MATHNASIUM OF MANHATTAN Newmark Grubb Knight Frank Winick | Steven Baker, Aaron Fishbein WHITEHAVEN ASSET Jamie Jacobs, Aaron Maltz Rice & Associates | Curtis Woodside MANAGEMENT L.P. GEIGER INTERNATIONAL, INC. Newmark Grubb Knight Frank 310-312 EAST 23RD STREET CBRE | Michael Laginstra, Justin Royce Dan Hassett, John Moran, III MASSAGE ENVY Winick | Steven Baker, Aaron Fishbein GREYSTONE & CO. INC. For offi ce space leasing Sabre Real Estate Group | Scott M. Sher Newmark Grubb Knight Frank opportunities, please call Jamie Jacobs METRO PCS Winick | Steven Baker, Aaron Fishbein Matthew T. Leon Kassin Sabbagh Realty | Hy Escava HAIDER CAPITAL MANAGEMENT LLC Newmark Grubb Knight Frank Newmark Grubb Knight Frank Executive Managing Director R&M BANILIVI Arthur Draznin, Hunter Berman 212-372-2041 Winick | Steven Baker, Aaron Fishbein, Richard Smith [email protected] ICE CANYON, LLC 7 EAST 14TH STREET Jones Lang LaSalle | Cynthia Wasserberger, LE CAFÉ COFFEE Palmer “Chip” Sealy, III Randy Abend, Alexis Tener Winick | Steven Baker, Josh Siegelman TF Cornerstone Prudential Douglas Elliman | Robert Knabu LIONEYE CAPITAL MANAGEMENT LLC VP, Director of Office Leasing For retail leasing opportunities, please call CBRE | Brad Needleman 212-984-1767 [email protected] Steve Gonzalez NAGASHIMA OHNO TF Cornerstone & TSUNEMATSU NY LLP Director of Retail Leasing Vortex Group | Rick Marek, 212-984-1768 Tim Freydberg WWW.TFC.COM [email protected]

CN016398.indd 1 1/7/14 5:02 PM We salute

®

and the 2014 Awards Honorees

for their contributions to the New York real estate industry

Learn more about Goulston & Storrs. Scan the QR Code with your smart phone.

CN016395.indd 1 1/7/14 12:14 PM 3877,1* &/,(176 ),567

$W&XVKPDQ :DNHÀHOGSXWWLQJ RXUFOLHQWV·QHHGVDQGREMHFWLYHV ÀUVWKDVEHHQRXUFXOWXUHVLQFH

2XUHQWUHSUHQHXULDOVSLULWDOORZV RXUSURIHVVLRQDOVWRGHOLYHUÁH[LEOH DQGLQQRYDWLYHVROXWLRQVWRGULYH PHDQLQJIXOYDOXHWRRXUFOLHQWV

3XWWLQJFOLHQWVÀUVW7KDW·VWKH &XVKPDQ :DNHÀHOGZD\

FXVKPDQZDNHÀHOGFRP EXCLUSIVE RETAIL OFFERINGS 536 MADISON AVENUE 895 MADISON AVENUE BETWEEN 54TH & 55TH STREETS / WEST SIDE NORTHEAST CORNER OF 72ND STREET

PRIME PLAZA DISTRICT PREMIER CORNER Appx 1,700 SF - Ground Level Appx 1,700 SF - Second Level Appx 728 SF - Ground Level Appx 1,221 SF - Basement Level Appx 1,300 SF - Basement Appx 25 Feet - Frontage Appx 42.5 Feet - Frontage NEIGHBORING RETAILERS: NEIGHBORING RETAILERS:

1031 THIRD AVENUE LONG ISLAND’S GOLD COAST NORTHEAST CORNER OF 61ST STREET GLEN COVE ROAD AT NORTHERN BLVD.

BLOOMIE’S COUNTRY NEW RETAIL DEVELOPMENT Appx 900 SF - Ground Level Appx 900 SF - Second Level Building One - Appx 12,000 SF Building Two - Appx 4,000 SF Appx 30 Feet - Frontage Parking 80 Spots NEIGHBORING RETAILERS: NEIGHBORING RETAILERS:

FAITH HOPE CONSOLO THE RETAIL GROUP JOSEPH AQUINO CHAIRMAN EXECUTIVE VICE PRESIDENT [email protected] [email protected] www.elliman.com/retail 212.418.2020 www.faith-consolo.com

CN016396.indd 1 1/7/14 2:16 PM For Tenants & Owners For Offi ce & Retail For Leasing & Management For Service & Success...

...MOVE FORWARD WITH

EVOLVING SINCE 1969

TENANT & LANDLORD REPRESENTATION • MANAGEMENT COMMERCIAL CO-OP & CONDO SERVICES • RETAIL & HOSPITALITY • CONSULTING

212.519.2000 evo-re.com

CN016406.indd 1 1/8/14 1:00 PM New York’s Real Estate Community: Like No Other Special Advertising Section

DAVID STOCKEL ASSOCIATE DIRECTOR Cushman & Wakefield

What prompted your entry into real estate? simultaneously, or utilizing tools such as LinkedIn I was initially planning on interning at a financial and Facebook to network and get in touch with new institution after my sophomore year of college, but the prospective clients, technology enables me to work internship fell through. I spoke with several people efficiently and accomplish more each day. close to me, and a family friend mentioned commercial real estate. He put me in touch with a couple executives What neighborhoods in the city represent hidden at different brokerage firms and I ended up interning in gems, and why? the business for a handful of summers, learning what a I believe the Times Square South neighborhood pres- dynamic work environment it was. I initially interned ents tremendous value. With the tech firms and the rest in research and had some interaction with office leasing of the Technology, Advertising, Media and Informa- brokers, which was when I realized that office leasing tion (TAMI) sector we work with getting pushed out specifically was of most interest to me. I started work- of due to price and availability. Times ing at Cushman & Wakefield in January of 2007 and Square South has become an area with more favorable have been here since. pricing, great amenities and transportation, and great loft buildings that allow for a variety of creative office What is the largest deal you have done in your career installations. so far? My team represented C.V. Starr & Co. (now known as What are the biggest opportunities/challenges the Starr Companies) in their New York headquarters re- real estate community faces in 2014? location/expansion for about 140,000 rental square feet I believe the new West Side office developments offer in 2009. I believe it was the seventh largest relocation great opportunities for companies who want to be in throughout New York City that year. a fresh neighborhood with brand new office supply, while still having convenient transportation and great Who is your role model in the industry? Why? amenities. For large users, there seem to be excellent I don’t know that I have one role model in the industry, branding opportunities, as well. but a couple people I would name include John Picco, a Cushman & Wakefield Executive Director, for his One challenge we have encountered is the lack of professionalism and industry knowledge, and Peter Van growth in the financial sector compared to past years. Duyne, a Cushman & Wakefield Executive Director, Given that this sector has historically been the largest, for his creative thinking and problem solving. My role there is some concern as to what effect that will have on model in life has always been my father. the market overall. Some of the ‘60s and ‘70s skyscrap- ers that traditionally housed these financial institutions How is being a broker in New York City different could face some leasing challenges next year. from being a broker elsewhere? The first difference that comes to mind is the complex- What are the top three qualities clients should con- ity of the New York City office market. Being a broker sider when searching for a broker? involved in corporate work in other markets within The top three qualities a client should consider when and outside the U.S., I have noticed that the business searching for a broker include choosing a reputable terms and leases have a higher level of sophistication firm, choosing a broker that’s experienced and well- here. The other glaring difference is the size of the New versed on the commercial real estate market, and York City market. With an office inventory around 400 choosing a broker that you’re comfortable with. One of million square feet, we actually have three sub-mar- our most successful brokers once told me “at the end kets (downtown Manhattan, and of the day, it is about whether or not you trust your Midtown South) that are comparable in size to other advisor” – and I believe that to be true. in the U.S. What advice would you give to someone who is inter- How is technology changing the work you do? ested in becoming a real estate broker? Through my entire career, technology has played an Firstly, getting an internship or applying to a training integral role in how I accomplish my day-to-day tasks. program like Cushman & Wakefield’s new Professional Whether it’s going to meetings and answering emails Real Estate Program (PREP) is a great way to get in (continued on S24) S22

PS022_CN_20140113.indd 1 1/9/14 3:17 PM he Vortex Group is known for Tits focus on tenant representation, keen insight, creative deal-making and proven dedication to the success of its customers and clients.

SENIOr-level experience Grounded in tenant-only 570 , 34th Floor, New York, NY 10022 representation T: (212) 486-1800 F: (212) 486-6496 www.vortexre.com

CN016377.indd 1 12/26/13 1:51 PM New York’s Real Estate Community: Like No Other Special Advertising Section

(continued from S22)

the door and learn how a full-service commercial real › Represented Amherst Securities Group LP in estab- estate firm operates. Be prepared to work hard, work lishing their first New York office at 444 Madison efficiently and work creatively for a very long time. Most Avenue. people probably do not realize this career is a marathon, › Represented Bryan Cave LLP in the disposition of not a sprint. It is easy to work long days, make a ton of 13,000rsf at 1290 Avenue of the Americas. cold calls and do what is asked of you for six, 12 or 18 months. The key is sustaining that level of work. Those › Represented EisnerAmper LLP in the disposition of who get complacent will have a tough time lasting in 16,000rsf at 6 East 43rd Street. this business given the high level of competition. Education, Memberships and Awards Bio › Bachelor’s Degree in Business Management, Boston David Stockel joined Cushman & Wakefield in January University School of Management. of 2007 as an Associate Broker. Prior to joining the › Member of the Real Estate Board of New York, team with John Picco and Peter VanDuyne, he was fin- Boston University Real Estate Alumni Association, ishing his requirements at Boston University’s School CoreNet Global. of Management. His client list includes C.V. Starr & › Benefit Committee member for the Samuel Waxman Co., Inc., General Reinsurance, Doral Bank, O’Connor Cancer Research Foundation’s Millennial Society for Davies Munns & Dobbins LLP, Bryan Cave LLP, Eisne- the past three years. rAmper LLP, Amherst Securities Group LP, Desmarais LLP, Progress Software, AppNexus, C&K Properties, › Recipient of SL Green’s 2009 “Rookie of the Year” Siemens and The United States Olympic Committee. award, given to the top producing broker with three years’ experience or less. Key assignments › Active member of Israel Bonds New Leadership › Represented C.V. Starr & Co., Inc. in their New York Division. Headquarters relocation of 141,000rsf at in what was the 7th largest new lease in Man- › Active member of C&W’s Innovation Initiative hattan in 2009. Committee. › Represented Desmarais LLP in the leasing of › Active member of C&W’s Emerging Broker Program. 45,000rsf at 230 Park Avenue. › Active member of the Young Men’s & Women’s Real Estate Association.

S24

PS024_CN_20140113.indd 1 1/9/14 3:18 PM OUTSTANDING SUBLEASE OPPORTUNITY Class-A Corporate Office Space at a Significantly Below Market Rent

195 FROEHLICH FARM BOULEVARD WOODBURY, LONG ISLAND

5,689 Square Feet Immediate Occupancy Term to October 31, 2017 10-12 offices with a high window ratio. Large open area. Kitchen/break room, computer/phone room and conference room. Furniture can be made available. Ideal offices for medical, tech, professional, etc. Immediate access to LI Expressway and Northern State Parkway.

For further information, please contact exclusive broker: Gerald Widen 516-336-5440 Ext. 15 [email protected]

All information is submitted subject to errors, omissions, changes of rental, sale price or other conditions, prior sale, lease or nancing, or withdrawal from the market without notice.

CN016391.indd 1 1/7/14 10:39 AM To learn more about The Marino Organization, please visit us at: www.themarino.org

171 Madison Avenue Proud to Represent Phone (212) 889-0808 New York, NY 10016 Email [email protected] to all of the brokers who made thank2013 a great successyou with 29 deals!

KAT HWANG CURTIS WOODSIDE SKH Realty Rice & Associates, LLC

SINCLAIR LI BRIAN SIEGEL CBRE, Inc. The Lawrence Group, LLC

DANIEL WILPON JONATHAN BOCK CBRE, Inc. Coldwell Banker Commercial Alliance PETER SHIKAR CBRE, Inc. ROBERT MEHLMAN Regency Realty Advisors, Ltd. PETER ROSENLOW Adam Weissleder Winslow & Company, LLC SHAI SUSTIK Jill Burrowes Manhattan Residential, Inc. 212.370.9800 BRETT MASLIN Adams & Company, LLC BRETT GARTNER Winslow & Company, LLC 370 Lexington Avenue SIMONE LILLIAN New York, NY 10017 Sinvin Realty, LLC WAYNE SIEGEL Coldwell Banker WILLIAM W. CARR Commercial Alliance 370lexnyc.com Williamson, Picket, Gross, Inc. SETH KESSLER MARC O. ELLMAN Cornerstone Group Real Estate Services Ellman Realty Advisors

Another Premium Property By

SHERWOODEQUITIES

CN016387.indd 1 1/2/14 8:10 PM New York’s Real Estate Community: Like No Other Special Advertising Section

SIMON ZIFF PRESIDENT Ackman-Ziff

What prompted your entry into real estate? the residential market – perhaps too much. But I was first drawn to the real estate industry as a student. overall, I would say there is a positive outlook for I took a course at Penn State University in 1985 – Real the coming months. Estate 301 with Professor Ken Lusht – and soon after decided to enter into the real estate arena. What are the top three qualities clients should con- sider when searching for a broker? What’s the largest deal you’ve done in your career Clients should keep these three qualities top of mind so far? when seeking the right broker: first, look for a high-lev- The largest deal of my career isn’t a property transac- el relationship that will invite success and help realize tion, but a business partnership. In 1994, I forged a your vision; secondly, find a broker who displays partnership with Larry Ackman, who currently serves integrity and trust; and third, match yourself with a as the chairman of Ackman-Ziff. strong, functioning team committed to accomplishing your goals. Who is your role model in the industry? Why? There are a great deal of professionals I admire, but What advice would you give to someone who is inter- Larry Silverstein – the chief executive officer of Silver- ested in becoming a real estate broker? stein Properties – and Burton Resnick, chief executive For young professionals just getting their start in the officer of Jack Resnick & Sons, are at or near the top of real estate industry, my advice is simple: work hard to my role model list. They get it – they’re savvy, peerless find a great team. Working with colleagues who are as and consummate philanthropists. talented and passionate as you are will challenge you, force you to learn and operate at your best, and, ulti- How is being a broker in New York City different mately, place you on a path to success. from being a broker elsewhere? There’s certainly a major distinction between being a Bio broker here in New York City and practicing real estate Simon Ziff serves as president of Ackman-Ziff, a posi- elsewhere. The primary difference is the level of sophis- tion he assumed in 1995. Since joining the firm as an tication on the capital side of the business. There’s a lot analyst in 1989, Simon personally has arranged over more that goes into it here. $20 billion of debt, mezzanine and equity financings for some of the nation’s foremost real estate developers and How is technology changing the work you do? owners while solidifying the firm’s relationships with Technology plays a pivotal role in my work – and as it key capital sources. Simon has engineered the firm’s advances, so does the way I conduct business. The real collaborative culture which functions as a magnet for estate industry is using technology to enhance every financial talent. aspect of what we do, from deal management to market research to mining capital sources. Even something Simon received a B.S. in Finance from Pennsylvania as simple as communicating with clients and building State University, and an M.S. in Real Estate Finance relationships is linked to and influenced by new tech- from New York University. In May 2002, New York nologies. University awarded Simon its distinguished Real Estate Alumni Award. He has also been recognized by the What are the biggest opportunities/challenges the Real Estate Board of New York, the Most Promising real estate community faces in 2014? Commercial Salesperson of the Year Award” and six One issue facing the real estate community could be times as the recipient of its “Most Ingenious Deal of the too much momentum. Real estate professionals have Year award. In January 2010 Simon was named a mem- to stay grounded in order to effectively perceive the ber of the Real Estate Board of New York’s commercial market around them and make the wisest decisions board of directors for the second time. possible. In January 2012, Simon received the Louis Smadbeck What’s the outlook for the residential market Broker Award from the Real Estate Board of New York in 2014? in recognition of his positive influence over the past 17 Again, there seems to be a great deal of momentum in years. Please contact Simon at [email protected].

S28

PS028_CN_20140113.indd 1 1/9/14 3:18 PM Behind every successful Building Owner is a host of incredibly talented Brokers and steadfast Tenants. Jack Resnick & Sons thanks the following Firms and the Brokers who represented them, as well as our existing Tenants that renewed their commitment to New York City in 2013.

City University of New York Fairway GS LLC UMG Recording, Inc. 255 GREENWICH STREET 255 GREENWICH STREET 1755 BROADWAY represented by: represented by: represented by: Stephen Siegel, David Hollander & Allen Cooperman of Welco Realty & Jason Pruger Scott Gottlieb of CBRE, Inc. Richard Levine of CBRE, Inc. of Newmark Grubb Knight Frank Epsilon Data Management LLC Lenox Hill Hospital/North Shore-Long Island NYCHSRO Medical Review, Inc. 199 WATER STREET Jewish Health Systems, Inc. represented by: 199 WATER STREET 110 EAST represented by: Stephen Bellwood & John Boyle III Mark Ravesloot & William Iacovelli represented by: of Cassidy Turley of CBRE, Inc. Brian Waterman & Brent Ozarowski of Newmark Grubb Knight Frank Bloom Real Estate Group LLC Olympus U.S. Management LLC 485 MADISON AVENUE The Weisscomm Group, Ltd. represented by: 485 MADISON AVENUE 199 WATER STREET represented by: Scott M. Bloom represented by: of Bloom Real Estate Group Gary Greenspan, Jonathan Serko, Robert Yaffa & Wayne Van Aken Mitchell Barnett, Barry Zeller, David Malawer of Cassidy Turley & Andrew Ross of Cushman & Wakefi eld An American Craftsman, Inc. 205 WEST 57TH STREET Applegreen LLC represented by: Made Man Barbershop, Inc. 485 MADISON AVENUE Francine Kayden 170 WEST 23RD STREET represented by: of Midtown Commercial Real Estate represented by: Shawn S. Harooni & Norman Bobrow Matt Cohen of Norman Bobrow & Co., Inc. of The Lansco Corporation First Avenue Liquors, Inc. First Southwest Company 1516 FIRST AVENUE 485 MADISON AVENUE represented by: Panthera Corporation Shannon McAlister of SLMC Corp. 8 WEST 40TH STREET represented by: represented by: Michael Moorin James Saunders & Earle N. Cutler of Newmark Grubb Knight Frank Beech Hill Securities, Inc. of Newmark Grubb Knight Frank 880 THIRD AVENUE Microdot LLC represented by: 133 EAST 58TH STREET Lisa Kiehl of Jones Lang LaSalle Braun & Goldberg 110 EAST 59TH STREET Ninepeaks Capital Management, LP Zibro Family Management 880 THIRD AVENUE 485 MADISON AVENUE Quick Park Chesapeake LLC represented by: 401 EAST 80TH STREET John Brod & Laura Pomerantz Ban’s Custom Tailor of PBS Real Estate 401 EAST 80TH STREET Neil Kaplan, D.D.S. 133 EAST 58TH STREET Escape Nail Spa, Inc. United States of America 401 EAST 80TH STREET 315 HUDSON STREET Cynthia R. Gomez, D.D.S. Garden of Eden 133 EAST 58TH STREET Cubit Corporation 133 EAST 58TH STREET 170 WEST 23RD STREET

Parkstar Clean Corp. Manhattan Sports Performance LLC Martin Kent, D.D.S. 401 EAST 80TH STREET 133 EAST 58TH STREET 133 EAST 58TH STREET

Carl Meese, D.D.S La Crosta Pizza Restaurant Defi nitions Personal Fitness, Inc. 133 EAST 58TH STREET 430-36 EAST 72ND STREET 133 EAST 58TH STREET

New York Public Library Knickerbocker 72, Inc. Wells Fargo Bank, N.A. 110 EAST 59TH STREET 430-436 East 72nd St. 1755 BROADWAY

Jack Resnick & Sons Owners &Builders Since 1928 110 East 59th Street New York, NY 10022 212-421-1300 www.resnicknyc.com

Proud to be a member of

Proud to be a member of

CN016393.indd 1 1/7/14 10:43 AM TIME OUT… to say “thank you.”

Every now and then, it’s important to take a breabreak from the usual course of businessbus and acknowledge those who havhave helped you get where you are.

As we move into the New Year, the principles and associates of Handler Real Estate would like to stop and say “thank you” to the brokerage community. We’re grateful for all of your support this past year – and we’re pleased to note that our building portfolio is now effectively 100% leased. Thanks for your help in achieving this milestone at our premium properties: 561 7th Avenue, 263 West 38th Street and 315 West 39th Street.

We wish you all the best in 2014 – and we look forward to our future work with the brokerage community. Together, we make quite a successful team.

Contact Scott Galin: [email protected]

212.398.1888 handler-re.com Owner • Developer • Manager

PRIME RETAIL SPACE FROM 1,350 TO 4,500 SQ. FT.

High Traffic Prime Corner • Frontage on Broadway & Queens Blvd. Steps from Train and Buses • 14' Ceilings • Suitable for Restaurant Anchors 2 New Residential Buildings

CURRENT TENANTS INCLUDE: Starbucks • Subway • First American Bank • Carvel

www.picapitalpartners.com 718-779-4395 • [email protected] 136-18 39th Avenue, 12th Floor, Flushing NY 11354 New York’s Real Estate Community: Like No Other Special Advertising Section

JAMES NELSON PARTNER Massey Knakal Realty Services

What prompted your entry into real estate? with very little inventory in 2013 after the mass selloff It was luck that brought me into real estate. While a se- in 2012 due to the capital gains increase. As a result of nior at Colgate College, I wasn’t quite sure what I want- the supply demand imbalance, pricing rose close to 15 ed to do after graduation. Several of my friends were percent in Manhattan this year. Discretionary sellers headed to New York City, so I figured I’d visit the career began to list their properties, and inventory has now service center and explore relevant opportunities. As risen. Thus, we think it should be ideal circumstances luck would have it, Massey Knakal had their résumé for sales in 2014 – leading to a record year. deadline that day, so I gave it a shot. I was hired to work as an associate for Bob Knakal’s team, which was What’s the outlook for the residential market the best experience I could ask for getting started in the in 2014? business. That was 15 years ago – the rest is history. I’m equally bullish on the residential market for 2014. The Manhattan listing inventory was also severely What’s the largest deal you’ve done in your career depleted after 2012 – it dropped from 7,500 listings to so far? 5,000 in 2013. There is very little new supply coming I sold 102-08 West 57th Street (formerly Shelly’s) to market, as only three percent of the Manhattan to Hilton Land Vacations for $63 million. It was a landscape is available land, so there is virtually nowhere 100,000-plus building square feet site. Today, I’m asking left to build. $139 million for 100 Vandam. If it sells, it will be more than double my largest sale. What are the top three qualities clients should con- sider when searching for a broker? Who’s your role model in the industry? Why? When selecting a broker, an owner should: be confident Bob Knakal and Paul Massey, without question. Even the broker is looking out solely for their best interests, after being in the business for years, there are always even if the advice is not to sell at the present time; pick questions that pop up – and if neither Bob nor Paul a specialist with a proven track record in their neigh- has the answer, there may not be one! They have also borhood, plus a product type; and select the broker developed a platform second to none while receiving with access to the largest pool of buyers and a willing- universal respect in the business. ness to cooperate with the brokerage community.

How is being a broker in New York City different What advice would you give to someone who is from being a broker elsewhere? interested in becoming a real estate broker? I’ve never brokered in another city, but I would imagine My advice would be to specialize in a specific discipline our market is far more competitive. I’ve heard there are – like investment sales, residential rentals or retail leas- over 20,000 brokers who work in New York City. Every ing – in a defined neighborhood. Then, align yourself major firm in the world is here. However, once you with a firm possessing the best platform and training obtain the business, it’s a lot easier to sell, since we have for your chosen discipline. interested buyers from around the globe. A broker in a secondary or tertiary market may not have that benefit. Bio James Nelson brings to every real estate transaction How is technology changing the work you do? he works on the determination to win, the tenacity I was at first skeptical of social media, but now I em- and hard work to succeed, and the confidence that brace it. I use Twitter, LinkedIn and YouTube. I also comes from years of experience in the field. At Massey have a monthly e-blast with my blog. Now, when I Knakal Realty Services since 1998 and a partner since attend an industry event, several people will say, “I saw 2004, James has been involved in the sale of approx- your video” or “I read your blog.” It’s a great way to stay imately 260 properties and loans with an aggregate top of mind for my audience. value of over $1.9 billion. He is also a partner in MKRO I, Massey Knakal’s value-added private equity real What are the biggest opportunities/challenges the estate fund. real estate community faces in 2014? Owners have an opportunity: to sell at premium prices while rates stay low for buyers to lock in. We started

S32

PS032_CN_20140113.indd 1 1/9/14 3:19 PM INSPIRED

750 Seventh Avenue Prepare to be inspired

Current Availabilities Entire 19th Floor – 16,662 rsf Entire 18th Floor – 17,155 rsf Can combine to create 33,817 rsf Partial 17th Floor – 6,625 rsf

• Distinctive Class A property • Floor-to-ceiling windows • Terrific natural light and views • Efficient side core floor plate • Convenient to Times Square and • Close proximity to world-class amenities • Immediate access to all forms of mass transportation (1, N, Q, R at building entrance)

Jonathan Fanuzzi Charles Gerace Paul N. Glickman Frank Doyle [email protected] [email protected] [email protected] [email protected] 212-812-6044 212-812-5708 212-418-2646 212-812-5759 New York’s Real Estate Community: Like No Other Special Advertising Section

STEPHEN C. WINTER VICE PRESIDENT Related Companies

What prompted your entry into real estate? At Related, everyone from the mailroom to the Chair- I grew up in a hardworking, blue-collar Brooklyn man’s office is a pro. My core team – led by Jay Cross neighborhood – my father was a cop and my mother a and anchored by Bruce Warwick, Philippe Visser, nurse. They were extremely supportive and encourag- Andrew Cantor, Andy Rosen, Michael Samuelian and ing, but our thinking was limited in terms of business Dean Shapiro – are all professionals I truly admire. opportunities. “Successful” people would strive to be- Additionally, Stephen Ross, Jeff Blau and Bruce Beal come doctors or lawyers, so I worked incredibly hard to are individuals I admire deeply. No organization can be land an internship at the Brooklyn District Attorney’s great without great leadership. Office, working there the summer prior to my junior year of college. I had an incredible experience and was How is being a broker in New York City different fortunate to meet a great mentor – I truly admired his from being a broker elsewhere? work, and by the end of the internship, I was sold on Sheer size. The Manhattan Market is 340 million square law school later returning to the DA. feet. To put that into perspective, the amount of avail- able space in Manhattan (46.6 million square feet with At the end of the summer, I asked for my mentor’s a 12.2% availability rate) is higher than the entire in- guidance; much to my surprise, he said, “go make ventory in Downtown Los Angeles (31.3 million square money – I promise you crime will still be here if you feet) or the Dallas CBD (28.8 million square feet). The later decide this is what you want to do.” I took that fluidity and competitive nature of the New York City advice to heart, and throughout my junior and senior marketplace is unmatched. years of college, I researched and canvassed every New York City real estate organization I could find. I landed How is technology changing the work you do? at Massey Knakal the next summer, working within the The information exchange and prospecting of the Investment Sales market. I knew brokerage would allow tenant world has changed drastically. Everything hap- me to learn the business. However, I ultimately believed pens incredibly fast today, and you need to be in front there was more action and opportunity in leasing. I of it all. When Bob Alexander and other legends of the found the Wheel Program at CBRE (an 18-month, brokerage industry were growing up in the business, highly competitive rotational program offered by the they had to read every trade publication that existed to firm), and was fortunate enough to be selected by man- remain up-to-speed on the market and uncover oppor- agement. The rest is history. I became obsessed with the tunities. Today, if you’re not constantly on the phone, real estate business and the New York City market. reading about the marketplace or attending breakfast, lunch and dinner meetings, you’ll get left in the dust. What’s the largest deal you’ve done in your career so far? What neighborhoods in the city represent hidden Negotiating my deal with Jay Cross to join Related. gems, and why? Jay Cross, Hudson Yards and Related were the only My colleagues and the New York City community can opportunities capable of convincing me to leave CBRE. certainly argue I’m biased, but if you don’t think Hud- CBRE was an incredible organization and I learned son Yards is the next big thing in our city, I’d invite you from the top professionals in the brokerage world, but to our offices to see what we’re doing. This year, we will the chance to join Related and work on the lease-up of see tremendous development momentum as we finalize Hudson Yards was unbeatable. plans for a marquee anchor tenant at 30 Hudson Yards and commence construction on the platform and the Who’s your role model in the industry? Why? remaining towers in the Eastern Rail Yards. The new #7 I have many. In both business and life, it’s important to subway station will also open this year along with the know how to lead, but it’s equally important to know last section of the High Line. It’s absolutely incredible, how to follow – especially in the commercial real estate and with all of the momentum we have, it is no longer a world, where the learning curve is steep and many ar- dream – it’s a reality. eas require expertise. When I was at CBRE, I looked up to Bob Alexander, John Maher and Paul Myers. They What are the biggest opportunities/challenges the were instrumental in the early days of my career. real estate community faces in 2014? Eighty percent of buildings in New York City are over

(continued on S36) S34

PS034_CN_20140113.indd 1 1/9/14 4:53 PM 810 CORPORATE SEVENTH HEAVEN

SWEEPING VIEWS

FULL TOWER FLOORS OF 17,320 SF EACH

PARTIAL FLOORS FROM 5,798 –11,600 SF

UP TO 11 5,000 SF CONTIGUOUS

Tara I. Stacom, Executive Vice Chairman Whitten M. Morris, Associate Director 810seventh.slgreen.com 212-841-7843 212-841-5026 [email protected] [email protected] Jeremy Bier Vice President Barry J. Zeller, Executive Vice President Scott Silverstein, Senior Leasing Associate 212-216-1722 212-841-5913 212-713-6797 [email protected] [email protected] [email protected] New York’s Real Estate Community: Like No Other Special Advertising Section

(continued from S34) 70-years-old, and Manhattan has added very little new What advice would you give to someone who is inter- product in the past 20 years, especially relative to other ested in becoming a real estate broker? global markets. London in the past two decades has First, I would highly recommend the brokerage busi- added roughly 40 percent of new product to the mar- ness to anyone looking to enter the real estate busi- ket, and Hong Kong has added just below 60 percent ness. The brokerage business is incredibly challenging, of new office product. New York has added less than 10 but for someone starting out, there’s no better way to percent of new product to its office stock. learn. Train yourself to be fearless, but also smart and calculated. Canvass every brokerage firm in the city, big Blue chip corporations demand efficient floor plates, and small. Meet with as many brokers as you can. Align state-of-the-art technology, resilient infrastructure yourself with a great mentor. And once you enter the systems and unparalleled amenities to remain globally brokerage world, keep your head down for at least 18 competitive. We need to continue to add new office months. Learn every building and every tenant that ex- product to allow businesses to run their organizations ists in your market. Read every lease you can get your in New York efficiently and effectively. hands on. Live at the office, protect your reputation and be ethical. What’s the outlook for the residential market in 2014? Bio We have seen very strong demand for high-end luxury Stephen C. Winter, vice president at Related Companies, condominium product, as evidenced by the swift sales was the 2012 winner of the Real Estate Board of New pace at One Madison. We expect that in 2014, the York’s “Most Promising Commercial Salesperson of demand from local as well as international buyers will the Year” award. Prior to joining Related Companies, continue for quality, for-sale residences in marquee Stephen was with CBRE where he completed the locations. The rental market also remains strong, and company’s highly competitive Wheel Program. While we have already seen demand for new rental product as at CBRE, Stephen played an integral role in Baker and evidenced by several inquiries for new space launching Hosteller’s 148,000 s/f renewal and expansion lease soon at 500 West 30th Street. at 630 Fifth Avenue, as well as obtaining prestigious tenants at Boston Properties’ 140,000 s/f vacancy at 399 What are the top three qualities clients should Park Avenue. Stephen holds a B.A. from Sacred Heart consider when searching for a broker? University and graduated summa cum laude. Market knowledge, market knowledge and market knowledge.

S36

PS036_CN_20140113.indd 1 1/9/14 5:05 PM 1177 Avenue of the Americas 120 Broadway 120 Wall Street 529 Fifth Avenue 7 World Trade Center

Silverstein Properties would like to thank the following brokers for a successful 2013:

Benchmark Properties Coldwell Banker Lee & Associates Michael Beyda Thomas P. Sullivan Kenneth Salzman Francisco Rodriguez Cresa Newmark Grubb Knight Frank Cassidy Turley Jeffrey A. Baker Barry Goodman Harry Krausman Michael McKenna Matthew T. Leon Eric J. Thomas Marcus Rayner Jane Roundell Norman Bobrow & Co. CBRE Ed Wartels Shawn Harooni Jason Frazier Richard Levine Cushman & Wakefield Rosenhaus Real Estate Silvio Petriello David Glassman Richard Rosenhaus Nicholas Weld Joseph Cabrera Ross Zimbalist Whitten Morris Studley Rory Murphy Michael Glavan Colliers International James Searl William Montana Alan J. Desino Ira Schuman David Ervolina Fountain Realty Group Marc Shapses Eric Ferriello David Gomez Robert D. Goodman Vortex Group Robert Kennedy Jones Lang LaSalle Tim Freydberg Leon Manoff Howard Hersch Rick Marek Robert Tunis Brian Higgins Kevin Wong Christopher Kraus Williamson Picket Gross Mitti Liebersohn Brian Kapchan Kenneth A. Siegel

Roger Silverstein Joseph Artusa Jeremy Moss Camille McGratty Executive Vice President Senior Vice President Senior Vice President Vice President 212.732.9700 212.732.9700 212.732.9700 212.551.7376 [email protected] [email protected] [email protected] [email protected]

CN016367.indd 1 12/26/13 1:44 PM