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	<title>The Commercial Observer &#187; Roland Li</title>
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		<title>The Commercial Observer &#187; Roland Li</title>
		<link>http://commercialobserver.com</link>
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		<title>30 Rock Premiere! South African Retailer Opening This Fall</title>

		<comments>http://commercialobserver.com/2010/07/30-rock-premiere-south-african-retailer-opening-this-fall/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:17:42 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/30-rock-premiere-south-african-retailer-opening-this-fall/</link>
			<dc:creator>Roland Li</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/30rock_3.jpg?w=300&h=199" />
<p align="left"><strong>30 Rockefeller Plaza</strong></p>
<p align="left">Alec Baldwin might be leaving the hit television show <em>30 Rock</em> in 2012, but at least the building will have <strong>Rain Africa</strong>. The South African bath, body and home retailer is taking <strong>1,247 square feet</strong> at 30 Rockefeller Plaza.</p>
<p align="left"><strong>Michael Stone</strong> of <strong>Cushman &amp; Wakefield</strong> represented the tenant. <strong>Tishman Speyer</strong>, co-owner of the complex, represented itself.</p>
<p align="left">The asking rent was <strong>$200 per square foot annually</strong>, according to the <em>New York Post</em>, which had news of the lease on July 7.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/30rock_3.jpg?w=300&h=199" />
<p align="left"><strong>30 Rockefeller Plaza</strong></p>
<p align="left">Alec Baldwin might be leaving the hit television show <em>30 Rock</em> in 2012, but at least the building will have <strong>Rain Africa</strong>. The South African bath, body and home retailer is taking <strong>1,247 square feet</strong> at 30 Rockefeller Plaza.</p>
<p align="left"><strong>Michael Stone</strong> of <strong>Cushman &amp; Wakefield</strong> represented the tenant. <strong>Tishman Speyer</strong>, co-owner of the complex, represented itself.</p>
<p align="left">The asking rent was <strong>$200 per square foot annually</strong>, according to the <em>New York Post</em>, which had news of the lease on July 7.</p>
<p>&nbsp;</p>
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		<title>Citibank to Blow Past Half-Century Mark at 411 Fifth</title>

		<comments>http://commercialobserver.com/2010/07/citibank-to-blow-past-halfcentury-mark-at-411-fifth/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:17:24 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/citibank-to-blow-past-halfcentury-mark-at-411-fifth/</link>
			<dc:creator>Roland Li</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/411-fifth-avenue-property-shark.jpg?w=197&h=300" />
<p align="left"><strong>411 Fifth Avenue</strong></p>
<p align="left"><strong>Citibank </strong>has signed a <strong>15-year</strong> renewal at 411 Fifth Avenue, where it has occupied space for 46 years. A branch office will occupy the ground floor and mezzanine, and the bank will also use part of the basement. The building will undergo light renovations, but they won't affect business.</p>
<p align="left"><strong>Newmark Knight Frank Retail</strong> represented the tenant. <strong>David Levy</strong> of <strong>Adams &amp; Co.</strong> represented the landlord.</p>
<p align="left">The asking rent was <strong>$225 per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on July 8.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/411-fifth-avenue-property-shark.jpg?w=197&h=300" />
<p align="left"><strong>411 Fifth Avenue</strong></p>
<p align="left"><strong>Citibank </strong>has signed a <strong>15-year</strong> renewal at 411 Fifth Avenue, where it has occupied space for 46 years. A branch office will occupy the ground floor and mezzanine, and the bank will also use part of the basement. The building will undergo light renovations, but they won't affect business.</p>
<p align="left"><strong>Newmark Knight Frank Retail</strong> represented the tenant. <strong>David Levy</strong> of <strong>Adams &amp; Co.</strong> represented the landlord.</p>
<p align="left">The asking rent was <strong>$225 per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on July 8.</p>
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		<title>Joymaker Diageo Takes Two Floors at Moinian’s 530 Fifth</title>

		<comments>http://commercialobserver.com/2010/07/joymaker-diageo-takes-two-floors-at-moinians-530-fifth/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:16:52 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/joymaker-diageo-takes-two-floors-at-moinians-530-fifth/</link>
			<dc:creator>Roland Li</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/johnny_walker.jpg?w=197&h=300" />
<p align="left"><strong>530 Fifth Avenue</strong></p>
<p align="left">Booze juggernaut <strong>Diageo North America </strong>has leased <strong>56,156 square feet </strong>at 530 Fifth Avenue, taking the entire fourth floor and part of the third for <strong>five years</strong>. The Connecticut-based company has more than 20,000 employees in 80 countries and produces a variety of spirits wine and beer. Guinness, anyone? Or perhaps some Johnny Walker? A Red Stripe in the heat?</p>
<p><strong>Scott Klau</strong> of <strong>Newmark Knight Frank </strong>and <strong>Joe Garvey</strong> of <strong>CLW Real Estate</strong> represented the tenant.<strong> Howard Kesseler</strong>, <strong>Brian Waterman</strong> and<strong> Jordan Gosin </strong>of Newmark Knight Frank represented the landlord, <strong>the Moinian Group</strong>, which acquired 530 Fifth from Silverstein Properties in 2004 for $210 million.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/johnny_walker.jpg?w=197&h=300" />
<p align="left"><strong>530 Fifth Avenue</strong></p>
<p align="left">Booze juggernaut <strong>Diageo North America </strong>has leased <strong>56,156 square feet </strong>at 530 Fifth Avenue, taking the entire fourth floor and part of the third for <strong>five years</strong>. The Connecticut-based company has more than 20,000 employees in 80 countries and produces a variety of spirits wine and beer. Guinness, anyone? Or perhaps some Johnny Walker? A Red Stripe in the heat?</p>
<p><strong>Scott Klau</strong> of <strong>Newmark Knight Frank </strong>and <strong>Joe Garvey</strong> of <strong>CLW Real Estate</strong> represented the tenant.<strong> Howard Kesseler</strong>, <strong>Brian Waterman</strong> and<strong> Jordan Gosin </strong>of Newmark Knight Frank represented the landlord, <strong>the Moinian Group</strong>, which acquired 530 Fifth from Silverstein Properties in 2004 for $210 million.</p>
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		<title>True Religion Scampers to MePa with Gansevoort Deal</title>

		<comments>http://commercialobserver.com/2010/07/true-religion-scampers-to-mepa-with-gansevoort-deal/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:16:21 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/true-religion-scampers-to-mepa-with-gansevoort-deal/</link>
			<dc:creator>Roland Li</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/true-religion-logo.jpg?w=300&h=199" />
<p align="left"><strong>71 Gansevoort Street</strong></p>
<p align="left">The shoemaker <strong>True Religion Footwear</strong>, which featured omega signs in its collection from 2008, has signed a <strong>4,617-square-foot</strong> lease on the third floor of 71 Gansevoort Street in the meatpacking district.</p>
<p align="left"><strong>Isaac Kashanian</strong> of <strong>Metropolitan Property Group</strong> represented the tenant. <strong>Darryl Romanoff</strong> represented the landlord, <strong>Romanoff Equities</strong>, in-house.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/true-religion-logo.jpg?w=300&h=199" />
<p align="left"><strong>71 Gansevoort Street</strong></p>
<p align="left">The shoemaker <strong>True Religion Footwear</strong>, which featured omega signs in its collection from 2008, has signed a <strong>4,617-square-foot</strong> lease on the third floor of 71 Gansevoort Street in the meatpacking district.</p>
<p align="left"><strong>Isaac Kashanian</strong> of <strong>Metropolitan Property Group</strong> represented the tenant. <strong>Darryl Romanoff</strong> represented the landlord, <strong>Romanoff Equities</strong>, in-house.</p>
]]></content:encoded>
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		<title>Skin Care Concern Takes Floor at W&amp;H’s One Grand Central</title>

		<comments>http://commercialobserver.com/2010/07/skin-care-concern-takes-floor-at-whs-one-grand-central/#comments</comments>
		<pubDate>Mon, 12 Jul 2010 21:15:25 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/skin-care-concern-takes-floor-at-whs-one-grand-central/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/skin-care-concern-takes-floor-at-whs-one-grand-central/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/one-grand-central-place1.jpg?w=197&h=300" />
<p align="left"><strong>One Grand Central Place</strong></p>
<p align="left">Skin care distributor<strong> Ales Group USA Inc.</strong> has signed a lease for<strong> 9,400 square feet</strong>, taking the entire 54th floor at One Grand Central Place for its U.S. headquarters. The company is a subsidiary of Parisian company Ales Groupe, and will relocate from 1350 Avenue of the Americas in the fourth quarter.</p>
<p align="left">"This is another major success in our plan to re-lease the tower floors at One Grand Central Place, eight of which have been taken by prestigious full-floor tenants in the past two years alone," said Fred Posniak, senior vice president of landlord <strong>W&amp;H Properties</strong>, in a statement. "The tower floor strategy is part of a repositioning program that has made the building the first choice for premier office space in the Grand Central District, for businesses large and small."</p>
<p align="left"><strong>Ira Rovitz </strong>of <strong>Grubb &amp; Ellis</strong> represented the tenant. <strong>Billy Cohen</strong>, <strong>Ryan Kass</strong> and <strong>Alison Coffey </strong>of <strong>Newmark Knight Frank</strong> represented the landlord.</p>
<p align="left">The asking rent was <strong>$60 per square foot</strong>.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/one-grand-central-place1.jpg?w=197&h=300" />
<p align="left"><strong>One Grand Central Place</strong></p>
<p align="left">Skin care distributor<strong> Ales Group USA Inc.</strong> has signed a lease for<strong> 9,400 square feet</strong>, taking the entire 54th floor at One Grand Central Place for its U.S. headquarters. The company is a subsidiary of Parisian company Ales Groupe, and will relocate from 1350 Avenue of the Americas in the fourth quarter.</p>
<p align="left">"This is another major success in our plan to re-lease the tower floors at One Grand Central Place, eight of which have been taken by prestigious full-floor tenants in the past two years alone," said Fred Posniak, senior vice president of landlord <strong>W&amp;H Properties</strong>, in a statement. "The tower floor strategy is part of a repositioning program that has made the building the first choice for premier office space in the Grand Central District, for businesses large and small."</p>
<p align="left"><strong>Ira Rovitz </strong>of <strong>Grubb &amp; Ellis</strong> represented the tenant. <strong>Billy Cohen</strong>, <strong>Ryan Kass</strong> and <strong>Alison Coffey </strong>of <strong>Newmark Knight Frank</strong> represented the landlord.</p>
<p align="left">The asking rent was <strong>$60 per square foot</strong>.</p>
<p>&nbsp;</p>
]]></content:encoded>
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		<title>Have It Up, 25 C.P.W.! Jazz Bar Closer to Liquor License</title>

		<comments>http://commercialobserver.com/2010/07/have-it-up-25-cpw-jazz-bar-closer-to-liquor-license/#comments</comments>
		<pubDate>Wed, 07 Jul 2010 14:23:36 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/have-it-up-25-cpw-jazz-bar-closer-to-liquor-license/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/have-it-up-25-cpw-jazz-bar-closer-to-liquor-license/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/25centralparkwest.jpg?w=225&h=300" />Community Board 7 voted on Tuesday night to recommend a liquor license for a proposed bar at The Century at&nbsp;25 Central Park West, at West 63rd Street, despite opposition from residents of the area.</p>
<p>The move comes with the stipulation that the bar and its managing partner, Greg Hunt, adhere to a list of 14 guidelines issued by residents, which include bans on outdoor seating, loud music and dancing. The board's recommendation is non-binding, but will factor into a review by the state's Liquor Authority. If any of the community's guidelines are broken following an approval, the liquor license would be revoked.</p>
<p>Mr. Hunt and his colleagues described the bar as a sophisticated, upscale amenity that would target patrons over 35, including visitors of the nearby Lincoln Center. It would have soundproofing and play the jazz of Billie Holiday, Miles Davis and John Coltrane, and not the thumping club music that opponents have insinuated. Light foods would be prepared off-site and heated in the bar's ovens, but no full kitchen would exist.</p>
<p>Mr. Hunt argued that the bar was consistent with the neighborhood's character, and he had responded to all of the community demands. A community board member said that the guidelines had been legally notarized as part of the liquor license application. "We're putting our money where our mouth is," said Mr. Hunt, a lifetime Upper West Side resident. "We've addressed every single one of their concerns."</p>
<p>Residents of 25 Central Park West and the nearby 15 Central Park West weren't satisfied, however.</p>
<p>A particular sour point is the closing time of the bar. Mr. Hunt insisted that the bar needed to stay open until 1:30 a.m. from Wednesday to Saturday, an hour later than the 12:30 a.m. closing time from Sunday to Tuesday, to attract the after-theater crowd. He added that the space only held around 65 patrons at once, so the additional four hours would be crucial for economic survival.</p>
<p>Residents disagreed, pointing to restaurants in the area that close earlier, although the proposed bar straddles the line between a full-service restaurant, which typically closes around midnight, and traditional beer bars, which stay open as late as 4 a.m.</p>
<p>An amendment proposed by a board member limiting the bar to a 12:30 a.m. closing time throughout the week was defeated, and the board ended up accepting the 1:30 a.m. closing time on some days, although residents remain opposed.</p>
<p>There's also the question of zoning.&nbsp;Twenty-five Central Park West is zoned for residential use, but a Gristedes supermarket previously occupied the ground floor of the building. The bar's lawyers argue that the fact that the space was used in a "non-conforming" way means that the bar can continue to use it in a commercial manner. But in accordance with the arcane approval process, the applicants first must obtain a liquor license before the zoning issue is even considered, and so the issue was downplayed by supporters of the bar.</p>
<p>Meanwhile, residents have hired a number of consultants to bolster their cause, including land use attorney Paul Silver, who is also representing Extell in their massive Riverside Center proposal. He argued against modifying the zoning of the building in order to accommodate the bar, as it would compromise the purely residential character of the area. (Ironically, Extell is attempting to get over a dozen zoning changes approved in its Riverside project.)</p>
<p>If approved, the project will go back to City Planning to sort out the zoning question, which will likely spark more opposition.</p>
<p>Until then, residents will have to get their Billie Holiday and wine fix elsewhere.</p>
<p><a href="mailto:rli@observer.com"><em>rli@observer.com</em></a></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/25centralparkwest.jpg?w=225&h=300" />Community Board 7 voted on Tuesday night to recommend a liquor license for a proposed bar at The Century at&nbsp;25 Central Park West, at West 63rd Street, despite opposition from residents of the area.</p>
<p>The move comes with the stipulation that the bar and its managing partner, Greg Hunt, adhere to a list of 14 guidelines issued by residents, which include bans on outdoor seating, loud music and dancing. The board's recommendation is non-binding, but will factor into a review by the state's Liquor Authority. If any of the community's guidelines are broken following an approval, the liquor license would be revoked.</p>
<p>Mr. Hunt and his colleagues described the bar as a sophisticated, upscale amenity that would target patrons over 35, including visitors of the nearby Lincoln Center. It would have soundproofing and play the jazz of Billie Holiday, Miles Davis and John Coltrane, and not the thumping club music that opponents have insinuated. Light foods would be prepared off-site and heated in the bar's ovens, but no full kitchen would exist.</p>
<p>Mr. Hunt argued that the bar was consistent with the neighborhood's character, and he had responded to all of the community demands. A community board member said that the guidelines had been legally notarized as part of the liquor license application. "We're putting our money where our mouth is," said Mr. Hunt, a lifetime Upper West Side resident. "We've addressed every single one of their concerns."</p>
<p>Residents of 25 Central Park West and the nearby 15 Central Park West weren't satisfied, however.</p>
<p>A particular sour point is the closing time of the bar. Mr. Hunt insisted that the bar needed to stay open until 1:30 a.m. from Wednesday to Saturday, an hour later than the 12:30 a.m. closing time from Sunday to Tuesday, to attract the after-theater crowd. He added that the space only held around 65 patrons at once, so the additional four hours would be crucial for economic survival.</p>
<p>Residents disagreed, pointing to restaurants in the area that close earlier, although the proposed bar straddles the line between a full-service restaurant, which typically closes around midnight, and traditional beer bars, which stay open as late as 4 a.m.</p>
<p>An amendment proposed by a board member limiting the bar to a 12:30 a.m. closing time throughout the week was defeated, and the board ended up accepting the 1:30 a.m. closing time on some days, although residents remain opposed.</p>
<p>There's also the question of zoning.&nbsp;Twenty-five Central Park West is zoned for residential use, but a Gristedes supermarket previously occupied the ground floor of the building. The bar's lawyers argue that the fact that the space was used in a "non-conforming" way means that the bar can continue to use it in a commercial manner. But in accordance with the arcane approval process, the applicants first must obtain a liquor license before the zoning issue is even considered, and so the issue was downplayed by supporters of the bar.</p>
<p>Meanwhile, residents have hired a number of consultants to bolster their cause, including land use attorney Paul Silver, who is also representing Extell in their massive Riverside Center proposal. He argued against modifying the zoning of the building in order to accommodate the bar, as it would compromise the purely residential character of the area. (Ironically, Extell is attempting to get over a dozen zoning changes approved in its Riverside project.)</p>
<p>If approved, the project will go back to City Planning to sort out the zoning question, which will likely spark more opposition.</p>
<p>Until then, residents will have to get their Billie Holiday and wine fix elsewhere.</p>
<p><a href="mailto:rli@observer.com"><em>rli@observer.com</em></a></p>
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		<title>TransitCenter Spreads Out at Blackstone’s 1065 Sixth</title>

		<comments>http://commercialobserver.com/2010/07/transitcenter-spreads-out-at-blackstones-1065-sixth/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:15:04 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/transitcenter-spreads-out-at-blackstones-1065-sixth/</link>
			<dc:creator>Roland Li</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/1065-ave-of-americas.jpg?w=197&h=300" />
<p align="left"><strong>1065 Avenue of the Americas</strong></p>
<p align="left">Nonprofit <strong>TransitCenter</strong>, which initiated the first commuter benefits program in the country, has expanded its headquarters at 1065 Avenue of the Americas to <strong>34,083 square feet</strong> on the fifth floor. The organization previously occupied 27,000 square feet on the 16th floor and part of the seventh floor.</p>
<p align="left"><strong>Pual Revson </strong>and <strong>Zev Holzman</strong> of <strong>Studley </strong>represented the tenant.</p>
<p align="left">"Moving from the higher floors in the building to a lower floor, with its larger floor plate, will provide TransitCenter with greater efficiencies than being split on two noncontiguous floors," Mr. Holzman said. "The building also provides easy access and convenience to TransitCenter's clients.&nbsp; Plus, ultimately, relocating within the property proved to be the most economically viable solution."</p>
<p align="left"><strong>Brian Waterman</strong>, <strong>John Fanuzzi</strong>,<strong> Brent Ozarowski </strong>and <strong>Lance Korman</strong> of <strong>Newmark Knight Frank</strong> represented landlord <strong>the Blackstone Group</strong>. Newmark took over leasing for the building from Cushman &amp; Wakefield in October.</p>
<p align="left">Asking rent was <strong>$45 per square foot</strong>.</p>
<p align="left">The <em>Post</em> had news of the lease on June 22.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/1065-ave-of-americas.jpg?w=197&h=300" />
<p align="left"><strong>1065 Avenue of the Americas</strong></p>
<p align="left">Nonprofit <strong>TransitCenter</strong>, which initiated the first commuter benefits program in the country, has expanded its headquarters at 1065 Avenue of the Americas to <strong>34,083 square feet</strong> on the fifth floor. The organization previously occupied 27,000 square feet on the 16th floor and part of the seventh floor.</p>
<p align="left"><strong>Pual Revson </strong>and <strong>Zev Holzman</strong> of <strong>Studley </strong>represented the tenant.</p>
<p align="left">"Moving from the higher floors in the building to a lower floor, with its larger floor plate, will provide TransitCenter with greater efficiencies than being split on two noncontiguous floors," Mr. Holzman said. "The building also provides easy access and convenience to TransitCenter's clients.&nbsp; Plus, ultimately, relocating within the property proved to be the most economically viable solution."</p>
<p align="left"><strong>Brian Waterman</strong>, <strong>John Fanuzzi</strong>,<strong> Brent Ozarowski </strong>and <strong>Lance Korman</strong> of <strong>Newmark Knight Frank</strong> represented landlord <strong>the Blackstone Group</strong>. Newmark took over leasing for the building from Cushman &amp; Wakefield in October.</p>
<p align="left">Asking rent was <strong>$45 per square foot</strong>.</p>
<p align="left">The <em>Post</em> had news of the lease on June 22.</p>
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		<title>Hedge Fund Servicer Takes Built-Out Sublease at 420 Fifth</title>

		<comments>http://commercialobserver.com/2010/07/hedge-fund-servicer-takes-builtout-sublease-at-420-fifth/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:14:52 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/hedge-fund-servicer-takes-builtout-sublease-at-420-fifth/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/hedge-fund-servicer-takes-builtout-sublease-at-420-fifth/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/420-5th-ave2.jpg?w=197&h=300" />
<p align="left"><strong>420 Fifth Avenue</strong></p>
<p align="left">Hedge fund specialist <strong>Reval.com </strong>has subleased <strong>29,406 square feet</strong> on the fifth floor of 420 Fifth Avenue. The company was previously at 100 Broadway. Reval decided to move based on a need for more space, following a two-year company expansion, and began searching in 2009. It will sublease the built-out space for six years from Macquarie Holdings USA, Inc., taking possession as of July 1.</p>
<p align="left"><strong>Dirk Hrobsky</strong>, <strong>Peter Rivelas</strong>, <strong>Gary Ceder</strong>, <strong>David Burton</strong> and <strong>Andrew Sansom </strong>of <strong>UGL Equis </strong>represented the tenant. <strong>Robert Tanzmann </strong>of<strong> Cushman &amp; Wakefield</strong> represented Macquarie.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/420-5th-ave2.jpg?w=197&h=300" />
<p align="left"><strong>420 Fifth Avenue</strong></p>
<p align="left">Hedge fund specialist <strong>Reval.com </strong>has subleased <strong>29,406 square feet</strong> on the fifth floor of 420 Fifth Avenue. The company was previously at 100 Broadway. Reval decided to move based on a need for more space, following a two-year company expansion, and began searching in 2009. It will sublease the built-out space for six years from Macquarie Holdings USA, Inc., taking possession as of July 1.</p>
<p align="left"><strong>Dirk Hrobsky</strong>, <strong>Peter Rivelas</strong>, <strong>Gary Ceder</strong>, <strong>David Burton</strong> and <strong>Andrew Sansom </strong>of <strong>UGL Equis </strong>represented the tenant. <strong>Robert Tanzmann </strong>of<strong> Cushman &amp; Wakefield</strong> represented Macquarie.</p>
<p>&nbsp;</p>
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		<title>Credit Analysts Double Space at Sherwood’s 370 Lex</title>

		<comments>http://commercialobserver.com/2010/07/credit-analysts-double-space-at-sherwoods-370-lex/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:14:42 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/credit-analysts-double-space-at-sherwoods-370-lex/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/credit-analysts-double-space-at-sherwoods-370-lex/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/370-lexington.jpg?w=197&h=300" />
<p align="left"><strong>370 Lexington Avenue</strong></p>
<p align="left"><strong>Credit Market Analysis Limited</strong> (CMA) doubled its space from 3,695 to <strong>8,144 square feet</strong> at <strong>Sherwood Equities</strong>' 370 Lexington Avenue. CMA will move from the seventh floor to the second floor.</p>
<p align="left"><strong>David Amsterdam </strong>and <strong>Rob Lowe </strong>of <strong>Cushman &amp; Wakefield</strong> and <strong>Holly Duran</strong> and <strong>Lois Durkin</strong> of <strong>Holly Duran Real Estate Partners LLC</strong> represented the tenant. <strong>Adam Weissleder</strong> and<strong> Jill Burrowes</strong> represented landlord Sherwood in-house.</p>
<p align="left">"We are delighted that CMA has chosen to extend its lease and more than double the size of its space in our building," Mr. Weissleder said in a statement. "CMA's commitment to 370 Lexington Avenue is a testament to the high level of service provided by the building to all of our tenants, along with our very convenient Grand Central location.</p>
<p align="left">Asking rent was in the <strong>$40s per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on July 28.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/370-lexington.jpg?w=197&h=300" />
<p align="left"><strong>370 Lexington Avenue</strong></p>
<p align="left"><strong>Credit Market Analysis Limited</strong> (CMA) doubled its space from 3,695 to <strong>8,144 square feet</strong> at <strong>Sherwood Equities</strong>' 370 Lexington Avenue. CMA will move from the seventh floor to the second floor.</p>
<p align="left"><strong>David Amsterdam </strong>and <strong>Rob Lowe </strong>of <strong>Cushman &amp; Wakefield</strong> and <strong>Holly Duran</strong> and <strong>Lois Durkin</strong> of <strong>Holly Duran Real Estate Partners LLC</strong> represented the tenant. <strong>Adam Weissleder</strong> and<strong> Jill Burrowes</strong> represented landlord Sherwood in-house.</p>
<p align="left">"We are delighted that CMA has chosen to extend its lease and more than double the size of its space in our building," Mr. Weissleder said in a statement. "CMA's commitment to 370 Lexington Avenue is a testament to the high level of service provided by the building to all of our tenants, along with our very convenient Grand Central location.</p>
<p align="left">Asking rent was in the <strong>$40s per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on July 28.</p>
<p>&nbsp;</p>
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		<title>Celebrate Brooklyn, Indeed! Arts Group to Two Trees’ 45 Main</title>

		<comments>http://commercialobserver.com/2010/07/celebrate-brooklyn-indeed-arts-group-to-two-trees-45-main/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:14:30 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/celebrate-brooklyn-indeed-arts-group-to-two-trees-45-main/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/celebrate-brooklyn-indeed-arts-group-to-two-trees-45-main/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/45-main-st2.jpg?w=300&h=199" />
<p align="left"><strong>45 Main Street, Brooklyn</strong></p>
<p align="left"><strong>BRIC Arts | Media | Bklyn</strong>, the nonprofit arts group that puts on the Celebrate Brooklyn! extravaganza each summer, is moving to-where else?-Dumbo. The group's executive and administrative staff will take <strong>3,387 square feet </strong>for two years at 45 Main Street.</p>
<p align="left"><strong>Caroline Pardo </strong>and <strong>Zannah Mass</strong> of <strong>Two Trees</strong> represented the landlord. No broker represented the tenant.</p>
<p align="left">Commercial suites in the building are asking between $2,650 and $13,000 monthly, according to Two Trees' Web site.</p>
<p align="left">"BRIC has helped shape the face of Brooklyn's artistic community for over 30 years, and we're thrilled to welcome them to Dumbo," said Ms. Mass, the cultural affairs director of Two Trees. "They will join a growing roster of impressive art galleries, artists, performance venues and other arts organizations in the waterfront community."</p>
<p align="left">Tech companies<strong> Cloverleaf Digital</strong> and <strong>Small Planet Digital</strong> also recently signed leases for <strong>1,590 square feet</strong> and <strong>1,343 square feet</strong>, respectively, at 45 Main Street.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/45-main-st2.jpg?w=300&h=199" />
<p align="left"><strong>45 Main Street, Brooklyn</strong></p>
<p align="left"><strong>BRIC Arts | Media | Bklyn</strong>, the nonprofit arts group that puts on the Celebrate Brooklyn! extravaganza each summer, is moving to-where else?-Dumbo. The group's executive and administrative staff will take <strong>3,387 square feet </strong>for two years at 45 Main Street.</p>
<p align="left"><strong>Caroline Pardo </strong>and <strong>Zannah Mass</strong> of <strong>Two Trees</strong> represented the landlord. No broker represented the tenant.</p>
<p align="left">Commercial suites in the building are asking between $2,650 and $13,000 monthly, according to Two Trees' Web site.</p>
<p align="left">"BRIC has helped shape the face of Brooklyn's artistic community for over 30 years, and we're thrilled to welcome them to Dumbo," said Ms. Mass, the cultural affairs director of Two Trees. "They will join a growing roster of impressive art galleries, artists, performance venues and other arts organizations in the waterfront community."</p>
<p align="left">Tech companies<strong> Cloverleaf Digital</strong> and <strong>Small Planet Digital</strong> also recently signed leases for <strong>1,590 square feet</strong> and <strong>1,343 square feet</strong>, respectively, at 45 Main Street.</p>
<p>&nbsp;</p>
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		<title>Trump’s 40 Wall Nails Two: 8,200-Foot Renewal, 10-Year New</title>

		<comments>http://commercialobserver.com/2010/07/trumps-40-wall-nails-two-8200foot-renewal-10year-new/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:14:20 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/trumps-40-wall-nails-two-8200foot-renewal-10year-new/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/trumps-40-wall-nails-two-8200foot-renewal-10year-new/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/40-wall-street-flickr-via-c-r.jpg?w=197&h=300" />
<p align="left"><strong>40 Wall Street</strong></p>
<p align="left">Two new deals have been signed at the Trump Building at <strong>40 Wall Street</strong>.</p>
<p align="left">Law firm <strong>Solomon Blum Heymann LLP</strong>, which specializes in international and domestic business, has renewed a lease for <strong>8,288 square feet </strong>on the 35th floor.</p>
<p align="left"><strong>John Moran</strong> and <strong>Adam Leshowitz</strong> of <strong>Newmark Knight Frank</strong> represented the tenant. <strong>Donald Trump Jr.</strong>; <strong>Jeffrey Lichtenberg</strong>, a special consultant; and <strong>Brad Gerla</strong> and <strong>Adam Foster</strong> of <strong>CB Richard Ellis</strong> represented the landlord.</p>
<p align="left">Asking rent was <strong>$36 per square foot</strong>.</p>
<p align="left"><strong>Xcitek Solutions</strong>, a software provider and market data consultant, signed a 10-year deal for <strong>6,288 square feet</strong> on part of the fifth floor. The company moved from 5 Hanover Square.</p>
<p align="left"><strong>Richard Levine</strong> and<strong> Michael Rizzo </strong>of<strong> CB Richard Ellis</strong> represented the tenant. T<strong>he Trump Organization was represented by Messrs. Trump, Lichtenberg, Gerla and Foster</strong>.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/40-wall-street-flickr-via-c-r.jpg?w=197&h=300" />
<p align="left"><strong>40 Wall Street</strong></p>
<p align="left">Two new deals have been signed at the Trump Building at <strong>40 Wall Street</strong>.</p>
<p align="left">Law firm <strong>Solomon Blum Heymann LLP</strong>, which specializes in international and domestic business, has renewed a lease for <strong>8,288 square feet </strong>on the 35th floor.</p>
<p align="left"><strong>John Moran</strong> and <strong>Adam Leshowitz</strong> of <strong>Newmark Knight Frank</strong> represented the tenant. <strong>Donald Trump Jr.</strong>; <strong>Jeffrey Lichtenberg</strong>, a special consultant; and <strong>Brad Gerla</strong> and <strong>Adam Foster</strong> of <strong>CB Richard Ellis</strong> represented the landlord.</p>
<p align="left">Asking rent was <strong>$36 per square foot</strong>.</p>
<p align="left"><strong>Xcitek Solutions</strong>, a software provider and market data consultant, signed a 10-year deal for <strong>6,288 square feet</strong> on part of the fifth floor. The company moved from 5 Hanover Square.</p>
<p align="left"><strong>Richard Levine</strong> and<strong> Michael Rizzo </strong>of<strong> CB Richard Ellis</strong> represented the tenant. T<strong>he Trump Organization was represented by Messrs. Trump, Lichtenberg, Gerla and Foster</strong>.</p>
<p>&nbsp;</p>
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		<title>Austrian Jeweler Takes Madison Space Asking $1K a Foot</title>

		<comments>http://commercialobserver.com/2010/07/austrian-jeweler-takes-madison-space-asking-1k-a-foot/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:14:10 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/austrian-jeweler-takes-madison-space-asking-1k-a-foot/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/austrian-jeweler-takes-madison-space-asking-1k-a-foot/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/727-madison2.jpg?w=300&h=199" />
<p align="left"><strong>7</strong><strong>27 Madison Avenue</strong></p>
<p align="left">Madison Avenue continues to be the go-to street for luxury retail.</p>
<p align="left">Austrian fashion jeweler <strong>Frey Wille</strong> will open its first New York store at 727 Madison Avenue, taking an <strong>883-square-foot </strong>space. The store will carry enamel jewelry and accessories for men and women.</p>
<p align="left"><strong>Ilyssa Rothfeld</strong> and <strong>Dan Harroch </strong>of <strong>PBS Real Estate</strong> represented the tenant.</p>
<p align="left">"This transaction is indicative of the renewed activity on Madison Avenue," said PBS principal <strong>Laura Pomerantz</strong> in a statement. "The demand for spaces of 750 to 2,000 square feet is keen, and Madison Avenue is a fashionable street where there has been availability. Frey Wille is a great example of a European brand with a strong point of differentiation that is now taking advantage of the New York market."</p>
<p align="left"><strong>Robert Gibson</strong> and <strong>Molly Beal</strong> of <strong>Cushman &amp; Wakefield </strong>represented landlord <strong>Furla</strong>.</p>
<p align="left">The asking rent was <strong>$1,000 per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on June 30.</p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/727-madison2.jpg?w=300&h=199" />
<p align="left"><strong>7</strong><strong>27 Madison Avenue</strong></p>
<p align="left">Madison Avenue continues to be the go-to street for luxury retail.</p>
<p align="left">Austrian fashion jeweler <strong>Frey Wille</strong> will open its first New York store at 727 Madison Avenue, taking an <strong>883-square-foot </strong>space. The store will carry enamel jewelry and accessories for men and women.</p>
<p align="left"><strong>Ilyssa Rothfeld</strong> and <strong>Dan Harroch </strong>of <strong>PBS Real Estate</strong> represented the tenant.</p>
<p align="left">"This transaction is indicative of the renewed activity on Madison Avenue," said PBS principal <strong>Laura Pomerantz</strong> in a statement. "The demand for spaces of 750 to 2,000 square feet is keen, and Madison Avenue is a fashionable street where there has been availability. Frey Wille is a great example of a European brand with a strong point of differentiation that is now taking advantage of the New York market."</p>
<p align="left"><strong>Robert Gibson</strong> and <strong>Molly Beal</strong> of <strong>Cushman &amp; Wakefield </strong>represented landlord <strong>Furla</strong>.</p>
<p align="left">The asking rent was <strong>$1,000 per square foot</strong>, according to <em>Crain's</em>, which had news of the lease on June 30.</p>
<p>&nbsp;</p>
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		<title>The Top 10 Lease Expirations of 2010</title>

		<comments>http://commercialobserver.com/2010/07/the-top-10-lease-expirations-of-2010/#comments</comments>
		<pubDate>Tue, 06 Jul 2010 14:13:04 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/the-top-10-lease-expirations-of-2010/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/the-top-10-lease-expirations-of-2010/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://www.commercialobserver.com/files/2010/07/FEAT1285-6th-Ave.-Louisa-Cannell_0-300x199.jpg" />The city had more than a dozen leases of more than 100,000 square feet that were set to expire in 2010, and the fate of each of the top 10 represents various trends in the market. A number of companies, such as law firm Paul Weiss, the National Basketball Association and pharma firm Forest Laboratories Inc., renewed in late 2009, representing tenants' increased confidence in a marketplace that seems to be recovering-at least, that is, if leasing brokers are to be believed.</p>
<p align="left">"Last year, leasing activity was one of the worst in the last decade, which means a lot of pent-up demand," said Robert Martin, vice chairman of Jones Lang LaSalle's New York City brokerage operations, who joined the firm in June from CB Richard Ellis</p>
<p align="left"><a href="/2010/slideshow/128801/no-1-1-new-york-plaza" target="_blank">VIEW SLIDESHOW &gt; THE TOP 10 LEASE EXPIRATIONS OF 2010</a></p>
<p>Another big tenant, the Gap, decided to move downtown from 620 Avenue of the Americas in order to save on rent, but overall, relocations are down.</p>
<p align="left">"It's expensive to move," said Mr. Martin. In addition to the actual costs of physically moving, there are the soft costs, such as attorney fees, notices of address change and new furniture.</p>
<p align="left">The main reasons to move are a change in business, a desire for a fresh start, an inefficient current building or a lack of renewal rights. Landlords tend to welcome large anchor tenants, particularly in new buildings (such as law firm Proskauer Rose's recent deal at a new tower at 11 Times Square) and may offer incentives such as a few months of free rent, which drives down the overall asking rents.</p>
<p align="left">"Tenants are more comfortable in today's environment," said Aaron Jodka, a senior real estate economist for CoStar Group, which provided the accompanying expiring leases data. "That fear that has gripped the market has dissipated."</p>
<p align="left">But the fate of many spaces on this list is uncertain-particularly for those that are in the financial industry. In the case of Lehman Brothers' old space at 1301-1315 Sixth Avenue, the firm has been swallowed by Barclays, and the old office space may no longer be needed. On the flip side, after Bank of America bought Merrill Lynch in 2008, it opted to renew Merrill's space at 717 Fifth Avenue through 2014.</p>
<p align="left">Goldman Sachs' office space at 1 New York Plaza is the largest on the list, but the firm has new digs on West Street and will likely let the old lease expire.</p>
<p align="left"><a href="/2010/slideshow/128801/no-1-1-new-york-plaza" target="_blank">Here's the list</a>.</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://www.commercialobserver.com/files/2010/07/FEAT1285-6th-Ave.-Louisa-Cannell_0-300x199.jpg" />The city had more than a dozen leases of more than 100,000 square feet that were set to expire in 2010, and the fate of each of the top 10 represents various trends in the market. A number of companies, such as law firm Paul Weiss, the National Basketball Association and pharma firm Forest Laboratories Inc., renewed in late 2009, representing tenants' increased confidence in a marketplace that seems to be recovering-at least, that is, if leasing brokers are to be believed.</p>
<p align="left">"Last year, leasing activity was one of the worst in the last decade, which means a lot of pent-up demand," said Robert Martin, vice chairman of Jones Lang LaSalle's New York City brokerage operations, who joined the firm in June from CB Richard Ellis</p>
<p align="left"><a href="/2010/slideshow/128801/no-1-1-new-york-plaza" target="_blank">VIEW SLIDESHOW &gt; THE TOP 10 LEASE EXPIRATIONS OF 2010</a></p>
<p>Another big tenant, the Gap, decided to move downtown from 620 Avenue of the Americas in order to save on rent, but overall, relocations are down.</p>
<p align="left">"It's expensive to move," said Mr. Martin. In addition to the actual costs of physically moving, there are the soft costs, such as attorney fees, notices of address change and new furniture.</p>
<p align="left">The main reasons to move are a change in business, a desire for a fresh start, an inefficient current building or a lack of renewal rights. Landlords tend to welcome large anchor tenants, particularly in new buildings (such as law firm Proskauer Rose's recent deal at a new tower at 11 Times Square) and may offer incentives such as a few months of free rent, which drives down the overall asking rents.</p>
<p align="left">"Tenants are more comfortable in today's environment," said Aaron Jodka, a senior real estate economist for CoStar Group, which provided the accompanying expiring leases data. "That fear that has gripped the market has dissipated."</p>
<p align="left">But the fate of many spaces on this list is uncertain-particularly for those that are in the financial industry. In the case of Lehman Brothers' old space at 1301-1315 Sixth Avenue, the firm has been swallowed by Barclays, and the old office space may no longer be needed. On the flip side, after Bank of America bought Merrill Lynch in 2008, it opted to renew Merrill's space at 717 Fifth Avenue through 2014.</p>
<p align="left">Goldman Sachs' office space at 1 New York Plaza is the largest on the list, but the firm has new digs on West Street and will likely let the old lease expire.</p>
<p align="left"><a href="/2010/slideshow/128801/no-1-1-new-york-plaza" target="_blank">Here's the list</a>.</p>
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		<title>$100 M.! Big CMBS Deal at Barney&#8217;s Flagship</title>

		<comments>http://commercialobserver.com/2010/07/100-m-big-cmbs-deal-at-barneys-flagship/#comments</comments>
		<pubDate>Thu, 01 Jul 2010 12:02:25 -0400</pubDate>
					<link>http://commercialobserver.com/2010/07/100-m-big-cmbs-deal-at-barneys-flagship/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/07/100-m-big-cmbs-deal-at-barneys-flagship/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/barneys-retail-condo-pr31.jpg?w=300&h=204" />In one of the biggest commercial mortgage-backed security deals in New York during the Great Recession, the retail condominium portion of the Barney's flagship store at 660 Madison Avenue will be refinanced to the tune of $100 million. The loan was arranged by Meridian Capital Group, LLC for landlord Flagship Partners LLC, which owns floors one through nine in the building. That retail condominium portion is 265,000 square feet.</p>
<p>The 10-year, fixed-rate loan will be part of a U.S. conduit offering priced later in the summer, which will be securitized by Goldman Sachs and Starwood Capital, according to Ronnie Levine, the managing director at Meridian who negotiated the loan.</p>
<p>"This transaction's size and structure are highly indicative of the reemergence of the large loan and CMBS markets," Mr. Levine said in a statement. "Meridian was able to quickly evaluate our client's financing options, vet the loan to our broad national network of capital providers, and develop an effective solution tailored to our client's financing needs. This is not a transaction that could have happened so quickly even six months ago."</p>
<p><a href="mailto:rli@observer.com"><em>rli@observer.com</em></a></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/barneys-retail-condo-pr31.jpg?w=300&h=204" />In one of the biggest commercial mortgage-backed security deals in New York during the Great Recession, the retail condominium portion of the Barney's flagship store at 660 Madison Avenue will be refinanced to the tune of $100 million. The loan was arranged by Meridian Capital Group, LLC for landlord Flagship Partners LLC, which owns floors one through nine in the building. That retail condominium portion is 265,000 square feet.</p>
<p>The 10-year, fixed-rate loan will be part of a U.S. conduit offering priced later in the summer, which will be securitized by Goldman Sachs and Starwood Capital, according to Ronnie Levine, the managing director at Meridian who negotiated the loan.</p>
<p>"This transaction's size and structure are highly indicative of the reemergence of the large loan and CMBS markets," Mr. Levine said in a statement. "Meridian was able to quickly evaluate our client's financing options, vet the loan to our broad national network of capital providers, and develop an effective solution tailored to our client's financing needs. This is not a transaction that could have happened so quickly even six months ago."</p>
<p><a href="mailto:rli@observer.com"><em>rli@observer.com</em></a></p>
]]></content:encoded>
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		<title>Malcolm Gladwell, and What Fleetwood Mac Can Teach the Real Estate Industry</title>

		<comments>http://commercialobserver.com/2010/06/malcolm-gladwell-and-what-fleetwood-mac-can-teach-the-real-estate-industry/#comments</comments>
		<pubDate>Fri, 25 Jun 2010 19:05:54 -0400</pubDate>
					<link>http://commercialobserver.com/2010/06/malcolm-gladwell-and-what-fleetwood-mac-can-teach-the-real-estate-industry/</link>
			<dc:creator>Roland Li</dc:creator>
				
		<guid isPermaLink="false">http://www.commercialobserver.com/2010/06/malcolm-gladwell-and-what-fleetwood-mac-can-teach-the-real-estate-industry/</guid>
		<description><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/colliers__gladwell1_0.jpg?w=300&h=199" />On Thursday evening at Lincoln Center, Malcolm Gladwell strolled into the Allen Room, a 467-seat amphitheater with a spectacular view of Columbus Circle. Aside from the lime-colored backpack and signature curls, he dressed for the occasion in business conservative, complete with dark suit and maroon tie.</p>
<p>Mr. Gladwell had the task of addressing a few hundred employees and clients of Colliers International, the massive commercial real estate brokerage with offices in 61 countries, which merged with the FirstService Real Estate group earlier this year.</p>
<p>Although the event was billed as the "tipping point" of commercial real estate, Mr. Gladwell drew mostly from his book <em>Outliers</em>, which focuses on qualities that make people successful. The speech was part pep talk, part theory, although Mr. Gladwell made it clear early on that square feet and asking rents were not going to be discussed.</p>
<p>"I'm not going to talk about real estate because I have a rule: I don't talk about something my audience knows more about than me," he said.</p>
<p>Instead, Mr. Gladwell talked about Fleetwood Mac.</p>
<p>"Everyone in this room has made out to a song by Fleetwood Mac," he said. "The first idea I had was to lower the lights and bring in a bong, and we would all get high and listen to songs by Fleetwood Mac."</p>
<p>Alas, such hedonism would violate Lincoln Center's fire code, so instead Mr. Gladwell narrated the band's arrival in America, which culminated in wild success with 1975's self-titled album and 1977's <em>Rumours</em>, which sprang from a chance meeting between Mick Fleetwood, Lindsey Buckingham and Stevie Nicks.</p>
<p>But Mr. Gladwell argued that the band's success was a long process, one that involved a full 15 albums -- including compilations, numerous lineup changes and former member Peter Green taking LSD and joining a German religious cult.</p>
<p>Through all the adversity, the band had four attributes that laid the foundation for success: the willingness to work hard for a long time (the standard for mastery is 10,000 hours, or about four hours a day, for 10 years); struggling through challenges (compensating for weakness rather than just building on strengths); a willingness to experiment and be creative; and having strong support (Atlantic Records, which stood by the band for a decade). In the process of expounding on these nuggets, Mr. Gladwell weaved a web of other examples, from classical musicians who practice long hours to less-regarded quarterbacks performing better than their highly-drafted peers.</p>
<p>No doubt these four principles were meant to stir the hearts of brokers and property managers, and Mr. Gladwell's ability to reveal what seem to be universal truths through entertaining anecdotes is the cornerstone of his own success. He is bright, modest (part of his Canadian upbringing, no doubt) and a charming speaker, punctuating statements with a softly intoned "right?"</p>
<p>Critics inevitably claim that Mr. Gladwell oversimplifies complicated cases into easy, bite-sized brain morsels. But accessibility is an asset, and his dominance of the book charts is a testament to the power of his prose and the appeal of his ideas.</p>
<p>All in all, Mr. Gladwell provided a measure of star wattage to Colliers, and the crowd was appreciative. Although the premise of the pensive, lanky author cheering on what often seems to be the world's least subtle industry still borders on the absurd, Mr. Gladwell was unafraid of embracing the unusual arrangement.</p>
<p>Undoubtedly it was part of the "willing to experiment" quality that he preaches.</p>
<p><em>rli@observer.com</em></p>
<p>&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyocommercialobserver.files.wordpress.com/2011/06/colliers__gladwell1_0.jpg?w=300&h=199" />On Thursday evening at Lincoln Center, Malcolm Gladwell strolled into the Allen Room, a 467-seat amphitheater with a spectacular view of Columbus Circle. Aside from the lime-colored backpack and signature curls, he dressed for the occasion in business conservative, complete with dark suit and maroon tie.</p>
<p>Mr. Gladwell had the task of addressing a few hundred employees and clients of Colliers International, the massive commercial real estate brokerage with offices in 61 countries, which merged with the FirstService Real Estate group earlier this year.</p>
<p>Although the event was billed as the "tipping point" of commercial real estate, Mr. Gladwell drew mostly from his book <em>Outliers</em>, which focuses on qualities that make people successful. The speech was part pep talk, part theory, although Mr. Gladwell made it clear early on that square feet and asking rents were not going to be discussed.</p>
<p>"I'm not going to talk about real estate because I have a rule: I don't talk about something my audience knows more about than me," he said.</p>
<p>Instead, Mr. Gladwell talked about Fleetwood Mac.</p>
<p>"Everyone in this room has made out to a song by Fleetwood Mac," he said. "The first idea I had was to lower the lights and bring in a bong, and we would all get high and listen to songs by Fleetwood Mac."</p>
<p>Alas, such hedonism would violate Lincoln Center's fire code, so instead Mr. Gladwell narrated the band's arrival in America, which culminated in wild success with 1975's self-titled album and 1977's <em>Rumours</em>, which sprang from a chance meeting between Mick Fleetwood, Lindsey Buckingham and Stevie Nicks.</p>
<p>But Mr. Gladwell argued that the band's success was a long process, one that involved a full 15 albums -- including compilations, numerous lineup changes and former member Peter Green taking LSD and joining a German religious cult.</p>
<p>Through all the adversity, the band had four attributes that laid the foundation for success: the willingness to work hard for a long time (the standard for mastery is 10,000 hours, or about four hours a day, for 10 years); struggling through challenges (compensating for weakness rather than just building on strengths); a willingness to experiment and be creative; and having strong support (Atlantic Records, which stood by the band for a decade). In the process of expounding on these nuggets, Mr. Gladwell weaved a web of other examples, from classical musicians who practice long hours to less-regarded quarterbacks performing better than their highly-drafted peers.</p>
<p>No doubt these four principles were meant to stir the hearts of brokers and property managers, and Mr. Gladwell's ability to reveal what seem to be universal truths through entertaining anecdotes is the cornerstone of his own success. He is bright, modest (part of his Canadian upbringing, no doubt) and a charming speaker, punctuating statements with a softly intoned "right?"</p>
<p>Critics inevitably claim that Mr. Gladwell oversimplifies complicated cases into easy, bite-sized brain morsels. But accessibility is an asset, and his dominance of the book charts is a testament to the power of his prose and the appeal of his ideas.</p>
<p>All in all, Mr. Gladwell provided a measure of star wattage to Colliers, and the crowd was appreciative. Although the premise of the pensive, lanky author cheering on what often seems to be the world's least subtle industry still borders on the absurd, Mr. Gladwell was unafraid of embracing the unusual arrangement.</p>
<p>Undoubtedly it was part of the "willing to experiment" quality that he preaches.</p>
<p><em>rli@observer.com</em></p>
<p>&nbsp;</p>
]]></content:encoded>
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