By Gus Delaporte 5/15 10:30am

Lease Beat

120_wall_street_2

Nonprofit Relocates to 120 Wall Street

The American Institute of Chemical Engineers has signed a long-term, 16,506-square-foot lease at Silverstein Properties’ 120 Wall Street, it was announced today.

“After a two-year search of both Midtown South and Downtown, which included inspections of over 50 properties, AIChE elected to relocate to 120 Wall Street, one of the few buildings to provide an incentive program for not-for-profits,” said Leon Manoff, vice chairman at Colliers International, who represented the tenant, in a prepared statement. Read More

By Billy Gray 4/11 4:54pm

Lease Beat

120 Broadway

YMCA Retirement Fund Leases 52,000 Square Feet at 120 Broadway

The YMCA Retirement Fund signed a 15-year, 52,000-square-foot lease at Silverstein Properties‘ 120 Broadway, The Commercial Observer has learned.

Roger A. Silverstein and Joseph Artusa of Silverstein Properties represented the landlord. Robert D. Goodman of Colliers International represented the tenant. Asking rent was $38 per square foot.

The non-profit tenant will relocate to the full 19th floor of 120 Broadway from 48,000 square feet at 140 Broadway, which it leased in 1999 when Silverstein owned that property. Silverstein sold 140 Broadway in 2004. Read More

By Al Barbarino 3/19 12:49pm

Controversies

Ms. Quinn has emerged as the clear favorite in terms of overall contributions from the real estate industry, having received $1.3 million

Campaign Finance Analysis Shows Real Estate Execs Buttering Up Multiple Mayoral Candidates: Daily News

Did you ever uncover that your grandmother had numerous “favorite” grandchildren, or that your brother or sister was earning a bigger allowance?

If so, you might have felt like the city’s mayoral candidates as they come to realize that they might not be so special in the eyes of some real estate executives.

An article published in the New York Daily News shows that some real estate executives are throwing cash at more than one mayoral candidate in what critics believe is an attempt to butter up the next mayor – whoever it may be – to better suit their interests.

“Critics say it’s proof that some donors are not supporting a vision for the city — they just want a sympathetic ear from whoever wins,” the report stated. Read More

By Al Barbarino 11/14/12 3:10pm

Post-Tropical Storm Sandy

120 Wall Street (Credit: Silverstein Properties)

Silverstein Properties Reopens 120 Wall

Silverstein Properties reopened 120 Wall Street Wednesday morning for the first time since Hurricane Sandy flooded the 600,000-square-foot building’s basement and damaged electrical distribution equipment.

The company pumped more than one million gallons of water out from the building’s basement and removed contaminants before methodically checking all base systems to get them back up and running, Jeremy Moss, the firm’s vice president of leasing told The Commercial Observer.

“Since the storm we’ve been working around the clock to get the building up and running and to bring tenants back – we succeeded this morning at 8 a.m,” Mr. Moss said. Read More

By Daniel Geiger 7/10/12 7:00am

Power Broker

Marty Burger.

Can Larry Silverstein’s Heir Apparent, Marty Burger, Rise to the Occasion?

During a ski trip to Colorado several months ago, Michael May, an executive at Cantor Fitzgerald, remembers his eagerness to hit the slopes. He rose at the crack of dawn and found his friend Marty Burger, who had organized the trip, waiting in the lodge with the same idea in mind.

Traveling with a large group of executives, they skied all day. Mr. May remembers being exhausted, but Mr. Burger convinced him to join him and few others for some indoor tennis back at the hotel. A couple of games, at Mr. Burger’s urging, turned into a couple of sets. Read More