NEW YORK CITY-Today's the day for the formal spin-off of the residential-development unit of locally based Brookfield Properties. Brookfield Homes, trading separately on the NYSE, positions the parent as a pure-play office entity.

NEW YORK CITY-Reps for law firm Cahill Gordon & Reindel scouted roughly 10 buildings before opting to re-up for 250,000 sf at 80 Pine St. Those options simply underscore the massive mess the Manhattan market is in.

NEW YORK CITY-The broker formerly known as Morton G. Thalhimer may, like the rock star, revert to its original name. The Richmond-based firm that became Insignia/Thalhimer last year and I/ESG have severed their year-long relationship. Sources say there were "philosophical differences.

NEW YORK CITY-GlobeSt.com has learned that the deal is done, and Mitch Steir is now at the helm of Julien J. Studley Inc. Michael Colaccino and Mark Jaccom were also part of the management buyout. A new board is expected to be installed shortly.

TORONTO-The two deals bring the firm's '02 Toronto leasing tally to more than one million sf. CIBC and Unisen Inc. are the focus of the two newest deals.

NEW YORK CITY-As FASB changes to synthetic leases loom ever nearer, WP Carey executives look at the potential implications. As soon as draft wording meets with standards-board approval, they say, the rules will change.

NEW YORK CITY-Five months after departing his post as Grubb & Ellis COO, Mark Costello is about to take up his old duties as partner in Ernst & Young's real estate advisory operation. Scheduled to return next week, Costello will report to managing partner Mark Smith.

NEW YORK CITY-The two deals bring the firm's '02 Toronto leasing tally to more than one million sf. CIBC and Unisen Inc. are the focus of the two newest deals.