From a field of 15 nominations, Studley's Daniel O. Horowitz and Ira Schuman secured REBNY's first-place Henry Hart Rice Award, announced Tuesday evening. The second-place Robert T. Lawrence Award was presented to Eric Deutsch and Ken Meyerson of CB Richard Ellis for arranging the 265,083-square-foot relocation of Gap Inc. to 40 Worth St. Cushman & Wakefield's Michael Rotchford received the third-place Edward S. Gordon Award for the sale-leaseback of a 750,000-square-foot condominium interest at the New York Times Co. headquarters building, 620 Eighth Ave.
In the course of their work on behalf of Hunter, Horowitz and Schuman arranged the sale of the Hunter College School of Social Work's outmoded 127-133 E. 79th St. and the purchase and construction of a new facility on East 118th Street. Each transaction depended on the other: Hunter could not move the school from the East 79th location if it didn't have a new home, but it couldn't commit to buying and building a new facility if it didn't sell the old one.
The lease that Deutsch and Meyerson negotiated on behalf of Gap Inc. was the third largest office deal last year as well as the largest relocation of '09. It also marked the largest relocation Downtown in over five years, and took place amid one of the most challenging leasing environments in memory.
Similarly, Rotchford's finance deal took place as the credit markets were virtually shut down. Moreover, the sale-leaseback transaction he negotiated was bound by restrictive bond covenants.
In order to select this year's winners, the judges first had to choose the top deal in the sales, leasing and finance categories, said Hauspurg, chairman and CEO of Eastern Consolidated. They then had to choose which of the three should receive the first, second and third place awards. Hauspurg's fellow judges were Vincent Carrega, executive managing director of Grubb & Ellis New York; Gino Martocci, SVP and head of lending at M&T Bank; Jay Anderson, COO of the Feil Organization; and Robert J. Ivanhoe, chair of the global real estate practice at Greenberg Traurig LLP.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
