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Power Broker

Power Broker

Ed Hogan’s Making Manhattan’s Newest Shopping District

Ed Hogan. (Will O'Hare Photography)

It would seem that Ed Hogan’s job at Brookfield Place is nearly complete, but the national director of retail leasing for Brookfield Office Properties told Commercial Observer last week that a new phase is just beginning.

The 35,000-square-foot, 600-seat food hall Hudson Eats is open and nearly leased up, with counters taken by Blue Ribbon Sushi, Sprinkles cupcakes and others. The 25,000-square-foot (plus 10,000-square-foot outdoor area) Le District marketplace is fully leased by HPH restaurant group partners Peter Poulakakos and Paul Lamas. And the 250,000-square-foot retail center is 90 percent spoken for. Read More

Power Broker

Staying Power: Bruce Mosler of Cushman & Wakefield

Bruce Mosler. (Lea Rubin)

The list of chief executives who have stayed involved with a company for a significant period of time after leaving the CEO role is a short one. According to consulting firm RHR International, just 50 percent of departing CEOs stay involved with a company as a member of the board, and even then only for an average period of eight months.

Cushman & Wakefield’s Bruce Mosler has defied those statistics. The real estate firm’s chairman of global brokerage is still at C&W four years after stepping down as chief executive. Read More

Power Broker

Tom Donovan: Massey Knakal’s King of Queens

Tom Donovan. (Photo: Arman Dzidzovic)

To say Massey Knakal’s Tom Donovan knows Queens like the back of his hand might be an understatement–so much so that his colleagues call him “MapQuest” when it comes to the borough.

He derived his GPS-like abilities from delivering pizzas across Queens as a youth, and later as an NYPD cop patrolling the borough’s streets. Read More

Power Broker

Lee & Associates’ Harlem Shakers

Stan Lindenfeld and Henry Goldfarb

Mr. Goldfarb grew up on Rivington Street on the Lower East Side back when people sat on their stoops for entertainment, when you knew everyone in the neighborhood by name, and before the cramped, railroad-style tenements stretching from South to 15th Streets were razed and turned into projects. Read More

Power Broker

Mega Millions: Sam Sidhu of Megalith Capital Management

Sam Sidhu. (Sasha Maslov)

Deep in the midst of the market downturn, Samvir Sidhu, a veteran of Goldman Sachs and Providence Equity, was thinking about where he could capitalize once the market inevitably turned. Examining real estate, the native Pennsylvanian identified the residential and multifamily sectors as areas of opportunity.

With his strategy in mind, Mr. Sidhu, who goes by Sam, began raising money from family offices and other high-net-worth investors for a real estate investment fund shortly after leaving Providence Equity. In 2009, Megalith Capital Management was born. Read More

Power Broker

Bet on Brett Maslin, Adams & Co.’s No-nonsense Broker

Brett Maslin, Senior Managing Director of Adams & Company, LLC

A lot has happened since Brett Maslin of Adams & Co. made Commercial Observer’s 30 Under 30 list in 2012. He’s fully blossomed into one of the firm’s top-producing brokers. He also got married, so after eight grueling years climbing the company ladder, he finally got a break with a skiing trip in Vermont at the end of January—the first of two trips he and his wife would take to celebrate their vows. Read More

Power Broker

Ready to Launch: Jerry Larkin’s Vision for Manhattan West

LR_Larkin_030

Earlier this year, a machine known as The Launcher got to work on the foundation upon which Brookfield Office Properties’ 7.2-million-square-foot mixed-use Manhattan West project will rise.

So far, the metallic-yellow workhorse has methodically placed three of 16 concrete bridge spans atop a set of uncovered Amtrak tracks that lead to Penn Station, the rest of which are expected to be in place by year’s end.

As The Launcher continues to work ahead of schedule at the task, the “neighborhood of the future” is becoming more and more of a reality, as marketing efforts to land an anchor tenant for the development’s first commercial tower intensify. Read More

Power Broker

EVO’s Ira Fishman Talks About Acquiring Winoker and Growing the Family Business

Ira Fishman

Ira Fishman is walking around his office with carpet and base molding samples in his hand. EVO Real Estate Group President Dana Moskowitz wants his input on the color scheme for the company’s new offices. He says Ms. Moskowitz has better taste than him, but she wants him to weigh in on the color scheme anyway. He is her father after all.

In the end, he agrees with Ms. Moskowitz: White walls and light gray tones (including gray base) with blue accents are the way to go. Read More

Power Broker

Family Matters: Tara Stacom on 1 World Trade Center

Tara Stacom. (Credit: Cushman & Wakefield)

The Stacom name has become almost synonymous with the country’s biggest real estate projects and deals. The foundations of that reputation were laid back in 1962 when the late Matthew Stacom brokered the sale of the development site that would become the Sears Tower, the Chicago office property that would later be declared North America’s tallest building.

Mr. Stacom’s daughters, Tara and Darcy, grew up with a constant reminder of their father’s landmark transaction: a photo of the Sears Tower on the wall of the family’s home. Read More

Power Broker

Welcome to the Big Leagues: Andrew Scandalios Makes HFF a Contender

Andrew Scandalios, senior managing director at HFF. (Credit: Elizabeth Graham)

With competitors like CBRE and Eastdil Secured seemingly closing deals on high-quality institutional assets every week, HFF’s New York office could be forgiven for operating with an inferiority complex when it comes to the Big Apple’s investment sales market. But in a testament to the firm’s commitment to steady growth, the Houston, Texas-based real estate firm is slowly but surely catching up to its more high-profile competition in the city.

Since closing just $700 million in regional business in 2010, $400 million of which was in New York City, HFF’s investment sales group has grown by nearly 200 percent, to $1.2 billion of business in the New York market last year.

At the head of it all is Andrew Scandalios, the senior managing director and newly minted co-head of HFF’s New York office, who is keen to see the business continue to grow. Read More

Power Broker

Adding Value with Neil Kessner

Photo by Mike Nagle

On June 17, 2013, the head of SL Green’s in-house legal team, Neil Kessner, hopped on the subway with the firm’s president, Andrew Mathias, and headed to 1 Saint Andrews Place to meet retail bigwig Jeff Sutton for a meeting with the U.S. Attorney’s Office’s head of forfeiture, Sharon Cohen Levin.  

The SL Green/Sutton team had won an RFP issued in October 2012 to purchase the 49-year leasehold interest on the roughly 32,000-square-foot retail condo at 650 Fifth Avenue, signing a letter of intent for the leasehold on January 2013.  Read More

Power Broker

Grade A Meatpacking: Michael Shah of DelShah Capital

Michael Shah

After graduating first in his class from Harvard Law School in 2003, Michael Shah was seemingly destined for the very top of the legal profession. A post-graduate position in the mergers and acquisitions group at Wachtell Lipton Rosen & Katz led to key roles in a number of high-profile and complex deals, including the $4.5 billion initial public offering of financial advisory firm Lazard.

But despite early success, something was missing. Working between 80 and 120 hours per week, Mr. Shah knew his future lay elsewhere. Read More

Power Broker

May the (Work)Force Be With You: Phoenix Realty Group’s Keith Rosenthal

Keith Rosenthal

Jaws continue to drop around the city with what seem to be weekly announcements of new skyscraping luxury apartment developments from 57th Street to the Financial District. And the drumbeat of stories about the low-income housing crisis should only build with the incoming mayor’s arrival at City Hall. 

But a third sector of the residential market—working-class housing—hasn’t received as much attention at this pivotal juncture in the city’s recent history. Phoenix Realty Group, an owner and fund manager of multifamily properties across the city and country, has made Class B and C residential buildings its bread and butter over the past 15 years. And its New York-based management is eager to see how Mayor-elect Bill de Blasio approaches the housing of New Yorkers who are neither oligarchs nor impoverished.  Read More

Power Broker

Silver Foxes: Massey Knakal Turns 25

Messrs. Knakal and Massey at their firm's 275 Madison Avenue headquarters. (Credit: Will O'Hare)

In the midst of the Savings and Loans Crisis of the early 1990s, Massey Knakal, a three-year-old commercial sales brokerage, was facing the prospect of going out of business for the second time in a matter of months.

By late 1990, the commercial sales market had all but dried up. Rather than pounding the pavement closing deals, Paul Massey and Robert Knakal were instead sitting in the office cold calling and playing solitaire—not on a computer but with a real deck of cards. Things got so bad that the firms’ partners had to fill out applications for numerous credit cards—$60,000 worth—to make ends meet. Read More