Development

Greenburger Set to Construct A ‘Legacy’

(Photo: Time Equities)

Developer Francis Greenburger of Time Equities has secured $400 million in financing to move forward with a Helmut Jahn-designed downtown Manhattan residential tower at 50 West Street.

The Wall Street Journal reported last night that the financing gives the developer the go to begin construction on the long-stalled 63-story residential project, which will overlook Battery Park and the Hudson River, in the fall. Read More

Power Broker

The Storm Chaser: Alexander Chudnoff on Post-Sandy NYC Recovery Efforts

Alex Chudnoff.

Alexander Chudnoff, a commercial leasing broker who takes pride in strengthening relationships with clients through “impeccable service,” was especially busy in the aftermath of Hurricane Sandy.

The Jones Lang LaSalle executive managing director was dividing his time last week between volunteer efforts in the Rockaways, where he provided hot pizza and coffee to storm victims, and getting on the phone to make sure his Downtown Manhattan clients could stay open. Though it was a difficult time, the activity of making connections was just what attracted Mr. Chudnoff to the business in the first place.

“I love to make calls. I love to canvass,” he said. “I like to develop the relationship.”

In some cases, the storm required short-term arrangements, such as lining up space with other clients or in Jones Lang’s own offices, he said. In others, clients were able to proceed with minimal disruption, as when Dentsu Holdings USA returned to work at 32 Avenue of the Americas when Rudin Management opened the building the Monday after the storm. Read More