On the Market

Corn Popping: The Corn Exchange Building Just Finished a Hot New Renovation

81 East 125th Street.

After four years, the Corn Exchange Building at 81 East 125th Street has made it through the maize (er, maze) of redevelopment and is ready for tenants.

A lot of the economic rebirth in Harlem has featured big-box stores like Whole Foods Market and Bed Bath & Beyond, both of which are slated to open up on 125th Street. But some architecture that predates even the days of Langston Hughes and Bumpy Johnson, until recently, had fallen to the wayside. Read More

Lease Beat

Risk Management Firm Signs Lease at 205 Lexington Avenue

205 Lexington Avenue.

Global risk management firm Lombard Risk has signed a lease for the entire 14th floor at 205 Lexington Avenue, according to a press release issued by Colliers International.

The firm will take 7,318 square feet of space at the property, which sits between East 32nd and East 33rd Streets in Kips Bay. The press release noted that the London-based company is both relocating and merging its New York office at 489 Fifth Avenue between East 41st and East 42nd Streets with its Newark, N.J. office at the new location. Read More

Corporate News

Colliers International Spins Off From Parent Company

Jay Hennick, the founder & chief executive officer of FirstService.

Global real estate firm Colliers International has announced its intention to spin off from FirstService Corp., its parent company and Canada’s largest real estate services provider, according to a report from Bloomberg News.

Seattle-based Colliers anticipates that the spin-off will allow the company to redirect its resources to accelerate acquisitions and overall operate a more efficient business. It will also undergo a name-change, becoming Colliers International Group. Read More

The Lobby

Suzy Reingold Lands At Colliers [Updated]


Suzy Reingold, the former tri-state chief operating officer of Cushman & Wakefield, has moved on to rival brokerage Colliers International, Eastern Region President Joseph Harbert confirmed to Commercial Observer. She is consulting on the firm’s educational programs, he said.

Ms. Reingold departed C&W last December, after a lawsuit alleging gender discrimination that she filed in October of 2013Read More

The Lobby

Cynthia Foster Leaves C&W for Colliers

Cynthia Foster.

Cynthia Foster has joined Colliers International as the president of office services, representing Colliers nationally across the major office service lines, according to a press release issued today by Colliers.

“Cynthia is a strategic addition to our leadership team who further strengthens our investor and occupier services platform,” said Craig Robinson, the president of Colliers International, USA, in prepared remarks. “Her phenomenal background in both capital markets and brokerage gives our clients a unique perspective.” Read More

Lease Beat

Coral Reef Fund Migrates to Rock Center

45 Rockefeller Plaza

Worldwide energy investment company the Coral Reef Fund has relocated its headquarters roughly five blocks west to Tishman Speyer‘s 45 Rockefeller PlazaCommercial Observer has learned.

The company, which invests in oil, gas and other natural resources, moved last month from a smaller space at 757 Third Avenue by signing a 4,940-square-foot lease for a suite on the 23rd floor in the property that’s also known as the International Building and 630 Fifth Avenue, officials with Colliers International said. The space commanded an asking rent of $72 per square foot, they noted. Read More

The Lobby

CBRE Veteran Broker Eric Yarbro Joins Colliers

Eric Yarbro

Colliers International added Eric Yarbro to its team as an executive managing director on Dec. 9, Commercial Observer has learned.

Mr. Yarbro, who was previously a senior vice president at CBRE, arranged over $500 million in transactions during his 27 years there, he told CO. The office leasing agent who has represented clients like General Motors, AOL, Eastman Kodak, Prudential Financial, Fifth Third Bank, Western Union, Teachers Village, and Servcorp now joins a new team. Read More

Lease Beat, Acquisitions

Cure Urgent Care Prescribes New Location at the Monterey [Updated]

Cure Urgent Care

Cure Urgent Care will open the growing chain’s third location next spring at the Monterey apartment building on the Upper East Side, Commercial Observer has learned.

The company, which also offers walk-in clinic care at locations on Long Island and the Upper West Side, signed a 15-year, 2,900-square-foot lease to occupy a ground floor space in the 521-unit rental property that Rubin Schron owns at 175 East 96th Street. The building that’s between Lexington and Third Avenues commanded asking rents of $145 to $150 per square foot, officials at Cure said. Read More

Lease Beat

Orthopedic and Sports Medicine Group to Relocate in Midtown

57 West 57th Street.

The Mount Sinai Hospital-affiliated Manhattan Orthopedic & Sports Medicine Group will grow its Manhattan footprint in the spring by moving from a temporary Midtown location to the Cohen, Carmel and Getreu families’ 57 West 57th StreetCommercial Observer has learned.

The medical group that also has a Long Island City location signed a long-term lease for the entire 10,315-square-foot 15th floor of the 20-story property, said officials with Colliers International. Read More

Making History

Broker-History Buff Leads Financial District Tour

Richard Warshauer

Colliers International’s Richard Warshauer will partner with his friend from the Horace Mann School, attorney and historian James Kaplan, and the Museum of American Finance on the pair’s 27th annual Great Crashes walking history tour of Lower Manhattan tomorrow afternoon.

The three-hour tour starts at the museum and traces the history of the financial industry in the neighborhood from Henry Hudson to John D. Rockefeller, J.P. Morgan and the Panic of 1907, up to the Great Crash of 1929, the stock market collapse of 1987 and the 9/11 tragedy through visits to the actual historical location of the events. Read More