AT THE CENTER OF recognizes WHAT’S New York City’s luminaries at annual banquet NEXT t’s been an exciting year for the real Google senior vice president and chief financial officer, Iestate community in New York City. in announcing the decision. With a dominant global footprint, more than 100 years of local “As the Real Estate Board of New York celebrates its 123rd Still, the year also came with challenges. For example, market expertise, and a full spectrum of real estate services, year, we are proud to report that the real estate industry is just New York City home prices and home sales have dropped Cushman & Wakefi eld leasing and sales brokers are some of as vibrant as the city itself,” REBNY President John H. Banks in the past year, as have Manhattan retail rents in many said. “Generating billions in annual tax revenue that funds vital neighborhoods (although Brooklyn retail rents increased the most powerful, well-connected professionals in the industry. city services, New York City’s real estate industry remains the in many neighborhoods). The Tax Cuts and Jobs Act of engine behind New York’s economy.” 2017, which limits the deductibility of state and local taxes, In 2018, professionals in the Tri-State Region alone won more than contributed to a decline in residential demand in high-tax 80 industry awards recognizing their talents. And they aided in Among many positive indicators, Banks points to the booming states, such as New York and New Jersey. one out of every three signifi cant* transactions in New York City. economy and record job growth, with unemployment and crime rates at historic lows. One thing New York City’s world-class real estate community brings, however, is the resilience to take on these kinds of The key to their success? Their ability to understand client needs, “This success is attracting the country’s leading entrepreneurs challenges. In the pages that follow, you will meet some of craft optimal property solutions, and hand pick the right team and technological innovators,” Banks said. the movers and shakers who are shaping the city’s skyline, of cross-functional experts who are uniquely qualifi ed to execute. neighborhoods, quality of life and civic institutions. One major development for the city was Amazon’s decision— Be a part of what’s next in commercial real estate. announced Nov. 13—to open a headquarters in Long Island This year’s honorees are a who’s who of leading players on the cushwakenytristate.com/leadership City that will employ 25,000 people. Many hope the move will city’s real estate scene and, in some cases, families that have bring development to the neighborhood’s industrial landscape. shaped the city’s history for generations. *Leases over 250,000 sf and sales over $250 million Construction is expected to begin as soon as 2020. The award winners who will be honored at REBNY’s 123rd In late December, Google announced plans to expand its annual banquet include Alex Bernstein, executive vice footprint in the city. It is looking to spend more than $1 billion president/new business at Bernstein Real Estate Group; on capital improvements to establish a new 1.7 million-square- Helena Rose Durst, a principal at The Durst Organization; foot campus, Google Hudson Square. New York City was Carol Kellermann, former president of the Citizens Budget Google’s first office outside of California when it came to the Commission; Ira Z. Fishman, a partner at HSP Real Estate city nearly two decades ago, and it now houses more than Group; Daniel R. Tishman, principal and vice chairman of 7,000 employees. Tishman; Diane M. Ramirez, chairman and CEO of Halstead Real Estate; and Bernard Warren, chairman and president of “New York City continues to be a great source of diverse, Webb & Brooker. Read on for a glimpse of how they are making world-class talent—that’s what brought Google to the city their mark on New York City and helping to shape its path to in 2000, and that’s what keeps us here,” said Ruth Porat, the future. cushwakenytristate.com S1 | An Advertising Supplement to Crain’s New York Business Celebrating those who make a difference in real estate A Bigger Apple ear after year this is one of our favorite special sections at Crain’s: It features the honorees at the Real Estate YBoard of New York’s annual banquet. COMMERCIAL • RESIDENTIAL • RETAIL • FINANCE The real estate professionals chosen for these awards have shaped the city where we live and work in countless ways, but their contributions are often imperceptible. The stories you will read here will give you a glimpse of the important work they do as they run the city’s commercial real estate business. As someone who has grown up in New York City, gone to college here, and lives here with my husband and two children, I count myself lucky to have the opportunity to go about my daily life amid the city’s spectacular architecture. It’s easy to take it for granted as we rush to work, but when I notice the tourists who come here, cameras in hand, to capture the sights, I’m reminded of this city’s greatness and how fortunate we are to live in it. We are delighted to partner with REBNY to shine a spotlight on the industry and the movers and shakers within it as they continue to find ways to enhance life in the five boroughs. In the pages to come, you’ll meet the luminaries who NEW YORK CITY’S LARGEST OWNER OF COMMERCIAL REAL ESTATE will receive public recognition Jan. 17 at REBNY’s 123rd annual banquet. We extend an enthusiastic round of applause for their outstanding achievements. Irene Bar-Am Advertising Director Crain’s New York Business THEM US At Bryan Cave Leighton Paisner, we take the complexity out of Real Estate Private Equity and REITs. Our unique “one firm” approach brings to bear best-in-class talent from our 32 offices worldwide—creating teams that blend global reach and local knowledge. We simplify even the most complex transactions and leverage proprietary tools and technology to give our clients a decidedly competitive edge. Looking for a firm that can raise your game? Visit BCLPlaw.com to learn more. LAWYERSOFFICESYEARSBCLPLAWCOM SLGREEN.COM S3 | An Advertising Supplement to Crain’s New York Business SLG-2493 SL Green REBNY Ads - 2019_Crains 10.875 x 14.5_V3.indd 1 1/3/19 5:02 PM Table of Contents WE ARE THE Introduction ...............................................S1 Opening letter ........................................... S3 REBNY President’s 2018 overview .......... S9 FUTURE Alex Bernstein ..........................................S13 OF REAL ESTATE Helena Rose Durst ...................................S15 NEWMARK KNIGHT FRANK IS BREAKING Ira Z. Fishman ..........................................S19 BOUNDARIES IN REAL ESTATE TECHNOLOGY and advancing the way owners and occupiers achieve Carol Kellermann .....................................S21 their business objectives. Diane M. Ramirez ....................................S23 Developing the industry’s premier suite of proprietary and cutting-edge technology tools, we help our clients Daniel R. Tishman ................................... S25 improve their real estate functions and rapidly track, From left to right: Alex Bernstein, Helena Durst, Daniel R. Tishman, Bill Rudin, Diane M. Ramirez, record and maximize the value of their data in markets John Banks, Bernard Warren, Carol Kellermann and Ira Z. Fishman. Bernard Warren ....................................... S27 Photo Credit: David Chen Photo throughout the world. Our innovation and foresight leads to business success. Businesses looking to the future look to Newmark Knight Frank. Advertiser Index ngkf.com Cushman & Wakefield ............................... S2 650 Fifth ................................................... S14 Bryan Cave Leighton Paisner ....................S3 The Durst Organization ........................... S16 SL Green Realty Corp. ...............................S4 Handler Real Estate Organization ...........S17 Newmark Knight Frank .............................S6 Paramount Building ................................S18 The Feil Organization .................................S7 Jack Resnick & Sons ...............................S20 George Comfort & Sons, Inc. ...................S8 Rockefeller Group ....................................S22 CIT . .......................................................... S10 Halstead ...................................................S24 Kasirer .......................................................S11 The Carlton Group ..................................S26 Kamber Management Co. ....................... S12 Ogden Cap Properties ............................S28 S5 | An Advertising Supplement to Crain’s New York Business A Special Thank You To the Brokers and Tenants Who Helped Make 2018 a Successful Year! FRED F. FRENCH BUILDING Franklin Weinrib Rudell & Vassallo P.C. 261 FIFTH AVENUE 841 BROADWAY Colliers International 551 5th Avenue Advance Denim Limited Ernst & Young Jonathan Zuckerman Appomattox Advisory, LLC CBRE Cushman & Wakefield CBRE City Hats Adam Leshowitz Sam Clark CREATIVE BY CONWAY+PARTNERS SCG Retail Chris Corrinet / Robert Hill / Hilary Whittier Dan Klores Communications, Inc. Amanda Keller / Grant Holtan JCJ Business Corp Newmark Knight Frank 853 BROADWAY Kaufman Leasing Company, LLC Indochino Gregory Wang 25 Madison The Dartmouth Company / Fritz Kemerling Newmark Knight Frank Jared Steinberg Distribio Biologique Bialow Realty / Corey Bialow Ben Shapiro / John Cilmi Maynard Cooper & Gale, P.C. Cushman & Wakefield Cushman & Wakefield Jack Erwin Barry Zeller 145 WEST