C&W Exec Killed in Amtrak Derailment

Laura Finamore.

A Cushman & Wakefield executive has been identified as one of the eight people killed when Amtrak train #188 derailed Tuesday night.

Laura Finamore was a managing director of the corporate occupier and investor services group at C&W in New York City, where she worked since 2008, her family said in a statement. She was on her way back to New York on the ill-fated train after attending a memorial service for her friend’s mother at Arlington National Cemetery, reported. Read More

MO's Top 50

Q&A: Anthony Orso, Executive Managing Director and Chief Executive Officer of Cantor Commercial Real Estate

Anthony Orso

Mr. Orso met with Mortgage Observer to discuss his entry into the business and the challenges he and his colleagues overcame to grow the commercial real estate finance business and secure their first stand-alone CMBS deal in 2014. The team of about 330 employees is reportedly preparing for an IPO to take place later this year, however, Mr. Orso declined to comment. Read More

Stat of the Week

Number of Contiguous Blocks of 100,000 Square Feet Rises


There are currently 89* contiguous blocks of 100,000 square feet and greater on the market.

As with most things in the world today, there is a caveat—and this is where that asterisk comes into play. This total number of 89 includes eight available blocks of space in buildings that are under construction. Compare that with 2010, when 78* such spaces existed (including five blocks under construction), and it is clear that today large blocks continue to be an impediment on market recovery. Read More

Lease Beat

Cohen & Steers Re-Ups for 87,000 Square Feet at 280 Park Avenue

280 Park Avenue (photo courtesy of Property Shark)

Cohen & Steers, a investment portfolio management firm that invests in global real estate securities and large cap value stocks, among other securities, has renewed its lease for 87,000 square feet for three floors at 280 Park Avenue, The Commercial Observer has learned.

The firm, which is currently on the 10th, 19th and 20th floors in the building, has extended its lease for 10 years, according to a person familiar with the deal. Asking rent for the building is in the low $100s-a-square-foot.

SL Green Realty Corp and Vornado Realty Trust partnered together in 2011 to assume $400 million in debt for the 31-story office building. Representatives for both firms worked on the deal in-house. Read More

Power Broker

The New Math: Michael Lehrman on his plan to introduce derivatives into New York City’s otherwise staid rental market.

Michael Lehrman.

Michael Lehrman thinks the commercial real estate services business is completely staid, calcified, old-fashioned.

He doesn’t use those words specifically. He’s a little more eloquent. He’s a Wall Street man now, and to him it’s practically laughable when major real estate services firms claim to be cutting edge when the heart of their analytical capacity is still rooted in the decades-old practice of collecting troves of market data and organizing them into endless charts in order to divine tomorrow’s market conditions. Read More

Lead Indicator

They Rent Houses, Don’t They?

Blitt - Chandan

Apartment investors dismiss the notion that houses for rent will compete for their tenants. They should think twice. Institutions ranging from the largest investment banks to the smallest private equity investors are lining up behind policymakers who see things differently. The financing structures necessary to support the new market are under development, even though the implications for housing are ambiguous and the realtors have voiced objections. Read More