Marilyn Kane doesn’t miss being a schoolteacher. “People ask me that all the time,” Ms. Kane said. “And I don’t really. But I do enjoy explaining things well to people and seeing that light go on.”
Ms. Kane is the president and a founding partner of Iridium Capital, a real estate fund management company with an emphasis on retail properties (including Walgreens and 7-Eleven) and an exclusive focus on triple net leases. Hatched by Ms. Kane, her husband David Kane and Chief Financial Officer Sean Shanahan during the depths of the Great Recession, Iridium aims to mint what Ms. Kane calls “mini-moguls,” opening its doors to investors lacking beaucoup capital and investment expertise.
Although she no longer teaches in the classroom, Ms. Kane is a fixture on the financial lecture circuit, and she takes pride in introducing largely female audiences to the possibilities of real estate investment. She aims to erase “that deer in the headlight look” that often greets an economics crash course, “especially with women,” Ms. Kane said. “They’ll say, ‘Oh, finance—I don’t know that.’ And I tell them, ‘Do not say that to me.’”
Korea-based financial institution Hana Bank has signed a 10-year, 7,318 square-foot office lease renewal on the 15th floor at 650 Fifth Avenue, where ownership plans to reap the rewards of an ongoing capital improvement project.
The 36-story, 382,500 square-foot office building located in the Plaza District on 52nd Street, on the northern edge of Rockefeller Center, recently underwent an $11 million lobby renovation, completed in July.
“The building has always treated them well and we’re fortunate to retain them in the building,” said CBRE’s Paul Haskin, who represented owner 650 Fifth Avenue Company along with Robert Stillman and Zachary Freeman. “I think they’re excited to stay, particularly given the renovations the owner has completed, as they continue to improve the property.”
The Maison Dellos Group, owned by Andrei Dellos, is set to open a new four-story restaurant in the Meatpacking District called Manon.
The restaurant will be located at 407 West 14th Street and will feature a mix of French, American, and Pan-Asian cuisines. The restaurant will span 19,740 square feet with the restaurant occupying the first two floors and a part of the third, a wine cellar on the rest of the floor, and then offices on the fourth floor.