John Salustri has covered the commercial real estate industry for nearly 25 years. He was the founding editor of GlobeSt.com, and is a four-time recipient of the Excellence in Journalism award from the National Association of Real Estate Editors.
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.
NEW YORK CITY-Ownership of the Rockefeller Center property has launched a joint venture management operation with Clarion Partners to handle the day-to-day operations on selected properties across the nation. The new group is ready to pull the trigger at 1211 and Boston's One Federal St.
NEW YORK CITY-Papers filed last week by the major World Trade Center insurers spell out the problems with a pending appeal by master leaseholder Larry Silverstein. Meanwhile, his attorneys accuse the opposition of disinterest in rebuilding Lower Manhattan.