Last week, Forest City Enterprises confirmed what had become an open secret in New York real estate circles: MaryAnne Gilmartin would succeed Bruce Ratner as president and chief executive of the company’s New York subsidiary, Forest City Ratner Companies. Ms Gilmartin spoke with The Commercial Observer on the day of the announcement last week about the process of deciding on a succession plan, what she will bring to the table and how her ascension to the top of FCRC will impact the way women are viewed in the real estate industry.
Bruce Ratner is stepping down as CEO of Forest City Ratner Companies, a source tied to the organization tells The Commercial Observer, confirming rumors that have been swirling around the industry for the past year.
Mr. Ratner, 68, will step aside this winter, assuming the role of company chairman and putting MaryAnne Gilmartin, the firm’s current executive vice president of development and leasing, at the helm of the firm’s day-to-day operations, the source said.
“It’s been in the works for a significant amount of time… over the last year or so,” the source said. “Everyone knows Bruce is a mentor to her (Ms. Gilmartin) and that she was being groomed for the role.”
“The stories are accurate,” he added, referring to the string of media reports that followed suit after an initial report published in Crain’s yesterday.
The decision begs the question of whether the man behind the Barclays Center and Metrotech Center in Brooklyn, and the 52-Story marvel and home to The New York Times at 620 Eighth Avenue, has simply had enough of the day-to-day squabbles that characterized the last decade of his tenure at the firm.
NYU’s Center for Urban Science and Progress will temporarily lease 26,000 square feet of space from Forest City Ratner at Downtown Brooklyn’s Metrotech Center, where it will host its inaugural class of 50 students this fall.
Construction has begun on the space at 1 Metrotech as the school awaits the completion of its new home at nearby 370 Jay Street, slated for completion in 2017.
The Metrotech space will include 83 offices and workstations for faculty and staff; collaborative spaces at the corners of the building; and at least three labs, according to NYU.
Glenn Markman first began to pay attention to Brooklyn long before there was a Barclays Center to crystallize the borough’s rise.
Like so many success stories in real estate, buying in early was key.
Having done deals in Brooklyn for 20 years, Mr. Markman by now is known as an expert in office leasing in the borough, though he is also prolific in Manhattan. From his résumé, there’s no mistaking his prominence as a Brooklyn dealmaker.
In 2008, he represented Spike Lee in finding a Dumbo office for the film director’s advertising company, Spike DDB.
Earlier this year, when the Brooklyn Nets decided to relocate the team’s executive offices from New Jersey to be closer to the new Barclays arena, Mr. Markman, who is a leasing executive at Cushman & Wakefield, led a C&W team that brought the Nets into 35,000 square feet at 15 MetroTech Center in Downtown Brooklyn.