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Back Cover December 15, 2020-January 4, 2021 New York Real Estate Journal nyrej.com
USA $4.95
Dec. 15, 2020-Jan. 4, 2021
Project of the Month
NY PAGE 6A
Hastings Development completes renovations for
7,000 s/f LI industrial and warehouse building
JNY Capital, United Hoisting Executive of the Month
to build 425,000 s/f NY PAGE 11A
The Oasis–$175m Christopher Rotio takes a
NY COVER A
hands-on, personable approach
as executive VP at
Town Title Agency
Question of the Month
NY PAGE 10A
Stantec completes $14m project
at Good Samaritan Hospital
Ron Lanzo
AFR Furniture Rental Inc.
Cronheim Mortgage secures What’s a networking
$42.1m for multifamily portfolio professional to do when
COVID-19 shuts
NYC COVER PAGE 27A
D/B COVER PAGE 13A down onsite meetings?
nyrej.com This Week’s Sections DON’T
Front Section MISS
Sign up for Daily RE Cap! New York City
Visit nyrej.com/newsletter THE
Featuring Finance & Retail YEAR IN COMING
Columnist
Robert Renda
Volume 32 • Issue 24 Design/Build REVIEW DEC. 22!
Inside Front Cover December 15, 2020-January 4, 2021 New York Real Estate Journal nyrej.com
Certified
Protection
® Professional
40
NY/NJ SECURITY GUARDS
December 15, 2020 -
January 4, 2021
Volume 32 • Issue 24
Quick Read
Koenigsberg of
American Inv.
Properties brokers
$2.45m sale
LEE & ASSOCIATES HANDLING PRE-LEASING OF PASSIVE HOUSE OFFICE BLDG. IN LIC
SEE PAGE 4A JNY Capital, United Hoisting to
Stantec completes
$14m project build 425,000 s/f The Oasis–$175m
at Good Samaritan QUEENS, NY In a move that signals faith
in the future of NYC, JNY Capital and
feature 343,500 s/f of office space,
50,000 s/f floor plates, 17,000 s/f
Hospital United Hoisting Co. have teamed up
to bring a 425,000 s/f $175 million
of rooftop bar or restaurant, 30,700
s/f of event space, and 34,700 s/f of
commercial project called The Oasis ground-floor retail. The Oasis will
to Long Island City that will include also feature 30,000 s/f of terrace
office, retail, entertainment and event and exterior green space, dispersed
spaces. throughout each floor along with on-
The 11-story mixed-use devel- site parking for more than 650 cars.
opment, at 38-42 12th St., is located “As offices begin to repopulate in
in a prime opportunity zone and is the wake of COVID-19, the Oasis’
slated to be the largest spec office large open floor plates, passive house
“Passive House” construction project construction and generous outdoor
in the country, pursuing a voluntary green spaces offer a paradigm shift for
standard for energy efficiency by office space that will be attractive for
SEE DESIGN/BUILD, PAGE 13A substantially reducing the building’s Rendering courtesy of Archimaera companies that want to entice work-
energy usage. ers away from their working from
The Oasis recently entered the it as ideal for biotech, life sciences, “The overall scale of the project, home setups,” added Nick Liberis
with an excess of 50,000 s/f floor plans
Cronheim Mortgage pre-leasing stage and the developers
–who will build to suit–have targeted
media, engineering, commercial
office and retail tenants. and open green space enabling social
of Archimaera, the Brooklyn-based
architectural firm designing the Oasis.
secures $42.1m The development is expected to
break ground in the second/third quar-
distancing, are extremely unique to the
area,” said Moshe Pinsky,VP at JNY.
A Lee & Associates NYC team of
Mitchell Salmon, Corey Abdo, Cath-
for multifamily ter of 2021 and slated to be delivered With views of New York City and erine O’Toole and Stephanie Moore
Community Preservation in the third/fourth quarter of 2022. Long Island City, The Oasis will is handling pre-leasing at the project.
portfolio Corp. achieves carbon
neutral operations
NEW YORK, NY The Community 14,030 S/F AT 1050 OLD NICHOLS RD. IN ISLANDIA
Preservation Corp. (CPC), a leading
nonprofit affordable housing and
community revitalization finance
company, has achieved carbon neu-
Zere of Zere Real Estate Services sells
tral operations. CPC is the first real
estate nonprofit to set and achieve this
goal, demonstrating a commitment to
class A office building for $4.2 milion
ISLANDIA, NY Marie Zere, president
industry leadership in sustainability, and CEO of Zere Real Estate Ser-
SEE NEW YORK CITY, PAGE 27A while providing innovative and prac- vices, sold 1050 Old Nichols Rd.
tical financing solutions for building The sale price
owners and lenders.
36 Pages
was $4.2 million.
CPC achieved carbon neutral The building is a
operations in 2020, reflecting oper- 14,030 s/f class
R. Renda................................................2A ational emissions from activities in A commercial
fiscal year 2019. The company used office building
Project of the Month..........................6A a three-pronged approach: Measur- situated on 1.4
IREON Member Profiles...................9A ing operational carbon emissions, acres off the
developing an emissions reduction Marie Zere Long Island Ex-
Question of the Month....................10A 1050 Old Nichols Road - Islandia, NY
strategy focused on employee educa- pressway (LIE) Exit 59 Service Rd.
Executive of the Month...................11A
tion and engagement, and offsetting Built in 2012, the two-story elevator
DESIGN/BUILD............................12-25A remaining emissions. The first step commercial office building features a
Professional Profiles........................25A was completing a Greenhouse Gas security system, solar rooftop, energy Axiom Capital arranges two loans totaling $25.3 million
NEW YORK CITY........................ 26-33A Assessment (also known as a “car- efficient,ThinkLite Driverless LEDs, MONTGOMERY, NY Axiom Capital improved with a 99,400 s/f building
bon footprint”) to measure and track sprinkler system, 2,700 s/f basement Corp. has arranged the following: that was constructed in 1995.
Billboard.............................BackPage A total emissions annually for Scope 1, for storage, and public transportation • $15 million in permanent financ- • $10.3 million in permanent fi-
Scope 2, and select aspects of Scope bus route. ing for the refinance of a grocery nancing for the refinance of a grocery
New York 3. CPC retained EcoAct, a respected As one of the owners of the property anchored retail plaza. The Property is anchored retail plaza in Colonie. The
Real Estate Journal international sustainability consultan-
cy, to help develop and implement its
Zere sold the building on behalf of located less than half a mile from I-84, 90,953 s/f property has access and
her partners directly with no other a major local highway with a 42,634 visibility with more than a 16,000
nyrej.com carbon neutral strategy. brokerage firm involved during the annual average daily traffic count.The annual average daily traffic count at
For full story visit nyrej.com COVID 19 Pandemic. property consists of a 14.30-acre site its location on Albany Shaker Rd.
Inside Cover A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
e Space: 71 500 sf
imension: 25' x 100'NYC SPACE AVAILABLE
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INVESTMENT* OFFICE * INDUSTRIAL
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Tel: 781-878-4540
nyrej.com New York Real Estate Journal December 15, 2020 - January 4, 2021 1A
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2A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
WHAT DO THESE C OMPANIES Robert
Renda
Law
HAVE IN COMMON... BROOME COUNTY NY
Nassau Cty. reassessment:
What we know so far
Kristine Wolf, x245 John Picard, x250
RELOCATE TO BROOME NY On November 1, 2020, the 2020/21
School Tax bills were mailed to prop-
erty owners across Nassau County.
Publishing Director
kwolf@nyrej.com
President
jpicard@nyrej.com
These were the first tax bills to be
David Sullivan, x210 David Denelle, x283
based upon the much anticipated
Chief Financial Officer General Manager
“Nassau County Reassessment.”
dsullivan@nerej.com ddenelle@nyrej.com
The Reassessment was the first
countywide reassessment in nearly Roland Hopkins, Founder
WE
a decade. From tax year 2011/12
through 2019/20, real estate tax as- Phone: 781-878-4540 | Toll Free: (Outside Mass.) 1-800-654-4993
CAN
sessments were based on a “frozen
roll” in Nassau County. While real Section Publishers
HELP
estate tax assessments were subject to
New York State............................................John Picard, x250, jpicard@nyrej.com
change as a result of assessment chal-
lenges, as well as the construction and Design/Build.............................................Jeff Wallace, x240, jwallace@nyrej.com
destruction of improvements, Nassau Long Island .....................................................Kristine Wolf, x245, kwolf@nyrej.com
START YOUR CONVERSATION TODAY. County did not update property tax New York City...............................................John Picard, x250, jpicard@nyrej.com
6O7.584.9OOO theagency-ny.com assessments to reflect the ebb and flow Owners, Developers & Managers.....Jeff Wallace, x240, jwallace@nyrej.com
of the real estate market. Billboard, Auctions & Classified.............John Picard, x250, jpicard@nyrej.com
As a result, the 2020/21 School
Spotlights ........................................................Kristine Wolf, x245, kwolf@nyrej.com
Tax was not only a source of great
anticipation and angst, it was also Upstate ............................................Michael Campisi, x284, mcampisi@nyrej.com
viewed as a bellwether for commer-
cial real estate taxes for the years Section Schedules
to come. So, what have we learned
from the recently issued tax bills?
Week 1 Week 3
Owners, Developers & Managers New York City
The answer is, unfortunately, we have Long Island
(Featuring Finance and Retail)
not learned enough. While there are Design/Build
Upstate Spotlight
property owners who have experi-
enced dramatic changes in their tax
bills as a result of the Reassessment, Production Staff
the Reassessment’s full impact has Heather Devaney, Managing Editor, hdevaney@nyrej.com;
not yet been felt. This is due to state Jeanne Hardman, Art Director, jhardman@nyrej.com;
and local statutes which require the Kathi Ferry, Art Specialist, kferry@nyrej.com;
Reassessment to be “phased-in” over Tuyen Pham, Billing, tpham@nyrej.com;
a 5-year period. Consequently, while
the 2020/21 School Tax bills provide
some insight as to what can be expect-
NYREJ Events
Contact us for a FREE consultation ed, they do not paint a complete picture Rick Kaplan, rkaplan@nyrej.com,
John Picard, jpicard@nyrej.com
for property owners. Over the next five
when buying or selling real estate years, things will continue to change
New York Real Estate Journal
investment property or to for property owners, in some cases
significantly, as the Reassessment is
Published semi-monthly for $99 per year by East Coast Publications
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owners to speak with a tax certiorari Mailing Address: P.O. Box 55, Accord, MA 02018
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REAL ESTATE JOURNAL
commercial real estate tax burden.
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From: KW
Run Date: 08/18/20
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nyrej.com New York Real Estate Journal December 15, 2020 - January 4, 2021 3A
DEC
US Bankruptcy Court EDNY • In Re: 720 Livonia Development LLC, et al. • Case # 19-47797 (CEC)
BANKRUPTCY
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Qualification Deadline:
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4A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
PART OF 22-ACRE MIXED-USE DEVELOPMENT, PACIFIC PARK
Koenigsberg of American Inv.
Properties brokers $2.45m sale Greenland Forest City Partners and
Brodsky Org. top out 18 Sixth Ave.
HICKSVILLE, NY American Investment East Hills, and mixed use building
Properties completed the sale of 313 in Cold Spring Harbor.”
W Old Country Rd.The sale price was The buyer and seller wish to remain
$2.45 million. anonymous at this time.
Ron Koenigs- “With success on the two previous
berg of Ameri- listings, it came time to sell his office
can Investment building on 313 W. Old Country Rd., BROOKLYN, NY Greenland Forest City livering a transformative mixed-use
Properties was Hicksville. We signed the exclusive Partners and The Brodsky Organiza- project for all New Yorkers.”
the broker. right to sell for the property on Febru- tion celebrated the topping off of con- “The Brodsky Organization is
According to ary 1st, 2020. Within days the climate struction at 18 Sixth Ave. (parcel B4) delighted to see the topping out of
Ko e n i g s b e rg , for doing business began to change, at Pacific Park, the new 22-acre mixed- 18 Sixth Ave., the ongoing progress
Ron Koenigsberg “This is the third COVID-19 looked to be a game use project. The milestone comes on of Pacific Park, and proud to play a AECOM Tishman, the construction
assignment from the same seller. We changer. I had to sell this building so schedule despite the pandemic and role in keeping New York’s economy manager on the project.
exclusively represented the seller the tenant could move out and focus created more than 500 construction moving safely during this challenging At over 500 feet tall, 18 Sixth Ave.
before on his retail strip center in on his business,” said Koenigsberg. jobs. Pacific Park’s largest residential year,” said Dean Amro, principal at offers 360-degree views of the bor-
building will deliver 858 mixed-in- The Brodsky Org. “Along with our ough. Designed by Perkins Eastman,
come residential units, including 258 investment at 662 Pacific St., we are the residence will bring amenities
Largo secures two loans totaling $4.7 million units of affordable housing. proud to bring much-needed afford- to its over 800 mixed-income resi-
ROCHESTER, NY Ned Perlman of Largo tions out of Largo’s Albany office, “The topping off of 18 Sixth Ave. able housing and a public school to dential units. Located on Sixth Ave.
Capital’s Buffalo office arranged a arranged $2.3 million to refinance the is another major milestone for Pacific this community.” and Atlantic Ave., 18 Sixth Ave. will
$2.4 million permanent loan for a existing debt on a retail/office devel- Park,” said Scott Solish, executive “The topping out of 18 Sixth Ave. be a dynamic addition to the area’s
portfolio of multifamily properties. opment in Schenectady. The property vice president of development at is a tremendous milestone at Pacific ever changing skyline. The Brodsky
Perlman negotiated 80% acquisi- features 22,989 s/f of rentable space Greenland Forest City Partners. “Pa- Park Brooklyn. Our team has worked Org. has also recently topped off
tion financing at a low ten-year fixed and is occupied by a mix of national cific Park is a landmark project for tirelessly to ensure that work contin- construction at 662 Pacific St. (parcel
rate, 25-year amortization and no and local tenants. Guidarelli secured Brooklyn and New York City, and the ued this year safely and productively, B15), which includes a mixed-income
prepayment penalty. a competitive ten-year rate with a progress at 18 SixthAve. demonstrates helping to create hundreds of jobs rental residential building and a new
In a second transaction, Matthew 25-year amortization on behalf of our ongoing commitment to providing when New York needs them the public school.
Guidarelli, vice president of origina- the borrower. modern affordable housing and de- most,” said Jay Badame, president of For full story visit nyrej.com
Financing for the
22,813 sq. ft.
medical office
building was
arranged by the
undersigned with
Ameritas Life
Insurance Corp.,
whom we represent
as mortgage loan
correspondent.
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NE NY Tel: 781-878-4540
96648_5_NG_CI_NewOppAD_NYREJ ( New York Real Estate Journal ) T: 10.25” x 13.25” B: NA L: 10.25”x 13.25” 4c
nyrej.com New York Real Estate Journal December 15, 2020 - January 4, 2021 5A
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96648_5_NG_CIMF_NewOppAD_NYREJ.indd 1 12/7/20 9:45 AM6A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
Project of the Month
Hastings Development completes renovations for
7,000 s/f LI industrial and warehouse building
WEST BABYLON, NY Hastings Devel-
opment has completed renovations to
it’s 7,000 s/f industrial and warehouse
building at 70 Bell St. The company
has owned the building for ten years,
and the project, undertaken originally
to address maintenance issues, was
expanded to include all exterior
elements including all new brick
cladding. The result transforms the
late 1960s industrial building into
a refreshed, inviting classic brick
structure that will endure for decades.
“The building had an old style adding ornamental features includ- were in the building during construc- on the building exterior. appeal, was upgraded. “The tenants
industrial feel, of brick and block and ing rosettes, a diamond pattern, and tion. “We found out that they had In addition, the roof was removed are very happy and we have gotten
was tired looking. We stripped every- various flourishes. a very good sense of humor,” said and replaced with a rubber roof, as strong words of praise from the town
thing down to bare bones, performed Outside exterior walkways have Birnbaum. “The tenants were very well as all metal work around the building department,” said Birnbaum.
roof and masonry repairs–demolished all new pavers, new aprons for the cooperative,” he said. While there outside.
block walls, the roof, certain joists.
And then we worked on revamping
driveways, and decorative lighting
by each entrance door.
were some interior improvements,
the bulk of the work was completed
The landscaping–which serves
to create a welcoming, professional
70 Bell Street Project Team
the exterior in a classic brick design The building contains three units John Cruz & Son Asphalt Contractors
that would be attractive at the street and is fully occupied – housing a RS Paint
level,” said Bob Birnbaum, of Hast- security company, a food service Designs by Vera
ings Capital. distributor, and a fleet maintenance Arditto Mason Contractors
Hastings chose classical designs company. Two of the three tenants Milicia Electrical Contractors
for the brick patterning–adding saw Ira Levine, Esq.
tooth, herringbone, bump-outs with Six G’s Roofing
fluted columns, and a 20-ft. retaining Wood Art Construction
wall in the front. Bob Graham Plumbing & Heating
“The goal was to create a timeless HJR Landscape Architects
building, that will last for decades to Ronald’s Fence Co.
come. The brick is durable, and the Impact Media Productions
patterns are classic,” said Birnbaum. JM2 Architects
In addition the company added a new Catering by Kathy
brick sign box, detailed the exterior House of Color Painting
with faux finishes on the cast stone,
Developer
631-293-1998
Construction / Development
Brownfields / Site Remediation
Complete Turn Key
All Phases of Construction
Thank you to the entire
project team
for all their hard work!
Tel: 781-878-4540nyrej.com New York Real Estate Journal December 15, 2020 - January 4, 2021 7A
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232 EAST 35 ST., NYC NY 10016, 212.889.70778A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
CREWNY collaborates with CREW Foundation and
NEW for “DIG This: A CREW Careers Program
journeys. It included CRE Jeopardy
Barbara and other educational segments, as
Champoux well as CREWNY Conversations
facilitating relationship-building
Champoux Law among CREWNY members and
Group PLLC NEW graduates.
The Program culminated on No-
CREWNY DIGs This vember 7th with a Mock RFP Team
Challenge, in which teams of NEW
During three Saturdays in October, graduates developed, and presented
CREWNY proudly presented “DIG to a panel of judges, exceptional
This: A CREW Careers Program,” proposals responding to a Mock
an amazing collaboration among RFP for the fictional development
CREWNY, CREW Foundation and of new headquarters for NEW. The
NEW (Nontraditional Employment proposals reflected knowledge gained
for Women). The program focused on throughout the program, as well as
the Development Lifecycle to educate the innate talent and abilities of NEW
NEW graduates about: team competitors.
• Substantive elements of that CREWNY’s 2020 DIG This
Lifecycle; competition winners were: Olivia
• Where their roles as tradeswomen Walsh and Kim Spicer of Team Elite Olivia Walsh and Kim Spicer of Team Elite Women Developers, one of the Mock RFP Team Challenge winners
fit in it; Women Developers. Team Achieve-
• How their acquired jobsite skills ment Award winners included: Loli be recognized in the next issue.
and knowledge can be translated to Cheung; Elsie Ingabire; Esther We are profoundly grateful to
other CRE roles; and Minton; Leslianette Ramirez; Linda program sponsors:
• CRE career opportunities beyond Ramirez-Gonzalez; Keana Rivas and Gilbane Building Co.;
the trades. Robin Sokoloff. Zetlin & DeChiara LLP;
Its overarching goal was to inspire, JLC Environmental Consultants;
encourage and motivate all partic- 46 CREWNY members and CRE Phase Integration;
ipants to pursue and achieve their leaders invested time, wisdom and Arbor Realty Trust; and
full potential. experience in the program’s success, Welby Brady & Greenblatt, LLP.
The program was comprised of encouraging and supporting NEW
10 extraordinary featured speakers, women in the CRE pipeline, including To comment on this story
including CREW Network CEO, featured speakers Heidi Blau, Leisa visit nyrej.com
Wendy Mann, who focused on CRE Crawford, J.J. Falk, Linda Foggie,
thought-leadership from develop- Wendy Mann, Ines Olesen, Kasey Barbara Champoux is the principal of
ment industry leaders, as well as Pace, Carrie Pianin, Kennetha Pettus, Champoux Law Group PLLC, New York,
inspiring stories from senior CRE Karen Ramos, Beatrice Sibblies and
executives on their respective CRE Alana Sliwinski.All contributors will
N.Y. Speakers for Session 1, Development Panel
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NE NY Tel: 781-878-4540nyrej.com New York Real Estate Journal December 15, 2020 - January 4, 2021 9A
IREON New Member Profiles
Brian Earley Adam Kapner
Client Account Executive Principal
Metropolis Group, Inc. NYC Apartment Management
Name: Brian Earley Name: Adam Kapner
Title: Client Account Executive Title: Principal
Company: Metropolis Group, Inc. Company: NYC Apartment Management
Location: 22 Cortlandt Street, 10th Floor New York, NY 10007 Location: 157 Columbus Avenue, 4th Floor, NY NY 10023
LinkedIn: https://www.linkedin.com/feed/ Birthplace: Long Island, NY
Birthplace: New Haven, CT. Grew up in Hamden, CT. Education: New England College
Education: Southern Connecticut State University – BA - Communication; University of First job: Bond analyst at Fidelity
New Haven – M.ed - Education First job in real estate or allied field: I was a junior property manager for a large real
First job: 6th Grade Math Teacher in Hamden, CT estate fund with over 10,000 units across the country; with over 750 units in NY.
First job in real estate or allied field: Working with Metropolis Group in the Certificate What do you do now and what are you planning for the future?:I’m currently oversee-
of Occupancy Division as a project manager. ing the management of 50 buildings across NYC and Brooklyn. We hope to grow our
What do you do now and what are you planning for the future?:Work closely on business to over 100 buildings over the next two years. We offer boutique property
developing relationships with our clients, both existing and potential new, along with management services. Our hands-on approach allows us to be selective in the build-
serving as a liaison between our clients and our operations. Help identify and pros- ings we bring on board.
pect client leads and qualify new opportunities. How do you unwind from a busy day?:A three-mile run. My goal is to always run in
How do you unwind from a busy day?:Most days unwind with a daily gym workout under 24 minutes. I’m constantly pushing myself. I find it’s important to let out your
followed by dinner and family time before bed. stresses in the most useful way running.
Favorite book or author: James Patterson Favorite book or author: “Am I being to subtle” by Sam Zell
Favorite movie: “Miracle” Favorite movie: “Wall Street”
Last song/album that you purchased/downloaded?:Country music is a favorite, cur- Last song/album that you purchased/downloaded?:“Free Fallin” by Tom Petty
rently Chris Stapleton or Luke Combs One word to describe your work environment: Relentless
One word to describe your work environment: Challenging Rules to live by in business: Treat others how you would like to be treated
Rules to live by in business: I believe that we become what we are surrounded by. If you could invite one person to dinner (living or dead, but not related to you) who
By surrounding yourself with positive mentors, driven, hardworking people, you will would it be and where would you go?:Warren Buffett and we would go to Peter
succeed. Additionally, never stop learning or become complacent. Lugers
If you could invite one person to dinner (living or dead, but not related to you) who What is your DREAM job? (something other than your current job):There is no dream
would it be and where would you go?:Herb Brooks in Lake Placid, New York. job, I’m living it. When you come from corporate America you learn to appreciate the
What is your DREAM job? (something other than your current job):Professional golfer freedom you have of running your own business.
on the PGA Tour. Only need to shave another 36 strokes off the handicap!
Dimitri Mortsakis Michael Nerenberg
Owner Partner
CRS Corporate Relocation Systems, Inc. Borah, Goldstein, Altschuler,
Nahins, & Goidel, P.C.
Name: Dimitri Mortsakis Name: Michael Nerenberg
Title: Owner Title: Partner
Company: CRS Corporate Relocation Systems, Inc. Company: Borah, Goldstein, Altschuler, Nahins, & Goidel, P.C.
Location: Queens, NY Location: New York, NY
LinkedIn: linkedin.com/in/dimitri-mortsakis-3aa110114 LinkedIn: linkedin.com/in/newyorkattorney
Birthplace: Athens, Greece Birthplace: Syosset, NY
Education: Gettysburg College Education: B.A. Political Science/Journalism, George Washington University; J.D.
First job: Bartending Brooklyn Law School
First job in real estate or allied field: Relocation sales First job: Camp counselor
What do you do now and what are you planning for the future?:Helping companies First job in real estate or allied field: Summer intern, International Real Estate Law Firm
move in NYC and around the U.S. What do you do now and what are you planning for the future?:I practice in trans-
How do you unwind from a busy day?:Read actional real estate–sales and acquisitions of residential, commercial, and industrial
Favorite book or author: “Who Moved My Cheese?” by Spencer Johnson assets, office/retail leasing, coop/condo board representation, and landlord/tenant
Favorite movie: The Harry Potter series matters. I look forward to further expanding mine and my firm’s practices to touch on
Last song/album that you purchased/downloaded?:”Inside In/Inside Out” album by areas of real estate law that we currently do not service.
The Kooks (Naïve) How do you unwind from a busy day?:Reading, watching sports, attending live events
One word to describe your work environment: Exciting Favorite book or author: Colum McCann
Rules to live by in business: Always strive to provide more value to others than you Favorite movie: “The Descendants”
receive One word to describe your work environment: Immersive
If you could invite one person to dinner (living or dead, but not related to you) who Rules to live by in business: Practice law in a manner so that you can sleep at night,
would it be?:Gary Vaynerchuk ensure that you can work with your adversaries after the deal is done, and ensure that
What is your DREAM job? (something other than your current job):Musician clients never have any issue getting their calls answered and concerns alleviated.
If you could invite one person to dinner (living or dead, but not related to you) who
would it be and where would you go?:Shimon Peres, and after the pandemic, I’d be
open to virtually anything.
What is your DREAM job? (something other than your current job):Travel writer10A December 15, 2020 - January 4, 2021 New York Real Estate Journal nyrej.com
Question of the Month
What’s a networking professional to do
when COVID-19 shuts down onsite meetings?
Sarah Marsh of Marsh Architects. Only Networking Breakfast,” which went virtual thanks to the new video request be it an incoming lead, an
This group met on the third Friday of was held on the second Thursday of streaming technologies like ZOOM existing customer or a referral we’re
Ron Lanzo the month, 11 months per year. The each month, and yes it too was held and Microsoft TEAMS. In the nine contacting the client’s promptly. Also
AFR Furniture month of August was the exception at 8:00 AM. We made lots of close months since this pandemic literally following up with specific informa-
Rental Inc. due to the number of members on tion about the project to include an
vacation during this summer month. Our sales efforts continue using the phone and email accurate rental proposal, complete
As a career sales professional and
Sarah liked to start off the meeting
with, “…Marshland Connections is a
to stay in touch with our customers. We’ve seen literature on what’s being quoted,
verifying the inventory is available
now more than 12-year veteran here at non-fee-based networking group that many new opportunities arise using this distance and scheduling the delivery date. It’s
AFR Furniture Rental, Inc., network- meets promptly at 8:00AM.”Another sales approach. Of course, we’re being hyperactive because of this effort to both continue
ing was a mainstay for developing new group BNI, or Business Networking networking and to stay in touch with
business. I had become dependent International, was not a free group, and responsive to each request be it an incoming our customers that we’ve managed
upon several networking groups and many of their chapters met at lead, an existing customer or a referral we’re con- to maintain at least a portion of our
or organizations to meet potential 7:30 AM! I made a few of these as previous pre-pandemic business.
new customers. Networking was an an invited guest but catching a train tacting the client’s promptly. In conclusion, we’re as committed
integral part of my efforts to find at 4:30 AM didn’t provide me enough today to our basic sales principals
and develop new business. It was a motivation to make me beat the personal friends, and to this day, the shut down most of our office complex- that customers come first, and that
critically important part of my annual roosters up in the morning to attend. same familiar faces can be seen at es across the nation, we were quick to we will go the extra mile however
sales plan, which I often shared with With the annual membership fee, I networking events across the city of adopt this new technology and put on difficult that might be to provide our
our sales team, “Networking Works!” felt was a large commitment when New York. Well that was before the a nice shirt and a happy face! Rumors customers with timely, rental furniture
Networking is not a guaranteed you factored in both the membership Coronavirus, or COVID-19 pandemic ran rampant about many attendees still solutions that help them continue in
way of uncovering new business, and fee and the weekly attendance costs. struck. We enjoyed many personal in their pajama bottoms or shorts as business generating revenues. As a
if done incorrectly will not produce It was also a bit too structured for referrals that turned into long-term the summer months approached, but sales force, the commercial segment
the desired results. A major commit- my sales style, and so I never chose customers as a result of these rela- with a nice shirt, a broad smile and here at AFR Furniture Rental, Inc.,
ment and dedication are required to to become a member, but still recog- tionships. hopefully some nice lighting (we’re all remains committed to providing ex-
consistently attend these sessions. nize how valuable this organization The commitment one makes to now just discovering the importance ceptional service to all our customers,
Since most of my networking groups has been for those who have actively joining, and to attending on a regular of lighting) we’re able to continue and we look forward to helping you
were very early morning events which participated. basis makes networking work! Mem- networking with the same people with your next requirement.
started at 8:00 AM, it required getting Another organization of which I bership in the right organizations and each month only virtually.
up early, well before first light! Sales was a member, was the New York networking are critically important Our sales efforts continue using the To comment on this story
professionals usually attend a mini- Chapter of IFMA (The International aspects to achieving your goals of new phone and email to stay in touch with visit nyrej.com
mum of 3 to 4 networking sessions per Facility Management Association). I relationships built and new business our customers. We’ve seen many new Ron Lanzo is the National Account
month! I was a member of two groups chaired the Networking Committee developed. As I had previously, men- opportunities arise using this distance
quite seriously, Marshland Connec-
Manager for AFR Furniture Rental Inc,
for more than two years, and religious- tioned all of these in person meetings sales approach. Of course, we’re being
tions, founded, organized and run by ly attended the monthly “Member’s became a thing of the past, as they all hyperactive and responsive to each
New York, N.Y.
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Executive of the Month
FULL-SERVICE TITLE INSURANCE AGENCY GIVES BACK WITH #TOWNTITLEGIVESBACK INITIATIVE
Christopher Rotio takes a hands-on, personable
approach as executive VP at Town Title Agency
important to us. From sponsoring Rotio: Town Title is a leading pro-
seminars for young lawyers, to help- vider of title insurance and settlement
ing fund scholarships for law school services in the markets we serve. In
students, to holding a seat on the addition to some 200 monthly residen-
Bergen County tial purchase and
Bar Foundation’s “Our company has a refinance clos-
Board of Direc- hands-on, personable ings, Town Title
tors, Town Title insures many
continues to invest approach with our cli- notable com-
and make a differ- ents that has allowed us mercial transac-
ence in the local tions. This year,
legal community. to be successful in such our most notable
We are also ded- a competitive market.” deals involved
icated to working commercial
alongside the Hackensack University spaces, especially for retail net
Medical Center Foundation in its lease spaces and logistics company
Christopher Rotio cardiac research efforts, while also transactions.
providing financial support to the In the third quarter, alone, we’ve
NEW YORK, NY The New York Real Tomorrows Children’s Fund and the insured over $197 million in deals
Estate Journal (NYREJ) recently Diabetes Research Institute, among throughout the East Coast and
sat down with Christopher Rotio, others. Mid-Atlantic. idential offerings. to be a driving force in 2021.
executive vice president at Town Title In 2016, we hosted our first major NYREJ: What industry and types NYREJ: How does New York NYREJ: What do you expect to
Agency, for a question and answer fundraising event, our inaugural golf of assets have you been seeing the City commercial current deal flow see in the commercial market for
session.– outing. In its first four years, we raised most activity in? compare to other regional markets? 2021 nationally?
NYREJ: Can you tell us a little bit over $300,000. The outing continues Rotio: Locally and nationally, we Rotio: Unfortunately, commercial Rotio: Retail net lease spaces, in-
about Town Title Agency? to be a highly anticipated annual event are seeing net-lease deals trending volume in NewYork City remains low. dustrial assets, and logistics company
Rotio: We are a full-service title and in October, we hosted the golf upward for certain property types, However, in other regional markets, transactions will continue to stay
insurance agency with more than 100 outing at The Ridgewood Country including gas and convenience stores, such as Bergen and Essex Counties strong into 2021. We will likely see
years of combined experience in resi- Club and raised over $125,000 for logistics companies, and tractor sup- in New Jersey, and across the East a lot of refinancing or restructuring of
dential and commercial title services. three programs of Hackensack Me- ply stores. We are also seeing heavy Coast Mid-Atlantic, we are seeing loans in the hospitality industry next
Since 2001, we have processed in ridian Health. activity in multifamily apartment strong deal flow that is being driven year, but I’m confident hospitality
excess of 20,000 title searches—and NYREJ: What have some of your developments, locally and nationally, by favorable commercial lending, will make a comeback in New York
we’re still growing. In addition to most notable transactions been this with many warehouse and industrial interest rates and distressed oppor- City. I expect healthcare to experience
some 200 monthly residential pur- year? properties being developed into res- tunities. These factors will continue success into the new year as well.
chase and refinance closings, Town
Title Agency insures many notable
commercial transactions across a
wide array of industries, with par-
ticular expertise in healthcare, retail
net-lease, logistics company and car
dealership properties. Town Title has
also had the privilege of insuring some
of the largest transactions in NewYork
and New Jersey, which speaks loudly
to the trust and confidence that our
clients have in our agency.
Our company has a hands-on,
personable approach with our clients
that has allowed us to be successful
in such a competitive market.
Over the last 19 years, we have
developed and perfected a com-
prehensive service delivery model
that allows us to provide an array of
services that cover the full spectrum
of our clients’ needs. In addition, our
Settlement Division gives our clients
the opportunity to use our experienced
staff of attorneys and paralegals to
assist with any step of the closing pro-
cess – or even to handle the transaction
completely from inception to closing.
NYREJ: Town Title launched a
community relations initiative. Tell
us more about that.
Rotio: In 2015, we launched the
#TownTitleGivesBack initiative. We
are committed to giving back to the
local community.The agency’s goal is
to continuously build up the character
of our team while also building up
the community it serves. We strive
to make what’s important to them,
Town Title Agency’s 5th Annual Golf Outing at the Ridgewood Country Club14B March 24 - April 6, 2020 Design/Build New York Real Estate Journal
12A December 15, 2020 - January 4, 2021 Design/Build New York Real Estate Journal
UNVEILS NEW LOBBY MEZZANINE AMENITY LEVEL
Pestana Hotel opens,
iBUILT launches: New design NEW PREBUILT SUITES RANGE FROM 1,000 S/F TO 45,000 S/F
by Gene Kaufman Architect MKDAGinsburg
unveils Development
1501 Broadway Co.with
design-build-operate firm reinvents 50 Main St. office building
NEW NY iBUILT, a new
YORK,(GKA)-designed
Architect
sign-build-operate
Rosemark, Levin Mgmt. & Newmark
MANHATTAN, NY The Gene Kaufman
de-
Pestana
Hotel located at 23 company
East 39th St. powered
is now
buildings are built—a large-scale
offsite factory, new proprietary tech- WHITE PLAINS, NY Ginsburg Develop-
by technology,
open. The 27-story officially
hotellaunched
from Por- to nologies, and a C-Suite of innovative ment Cos. principal
MANHATTAN, Martinin
NY Newmark Ginsburg
coordi-
transform
tugal-based thePestana
world’s Hotels–dubbed
largest industry leaders across the design, construc- celebrated
nation withthe grand
1501 openingowner-
Broadway of the
—construction.
Pestana NY East–is Thethe
new company
second projectis tion, technology, development and first phase
ship of his reinvention
have unveiled new enhancementsof the 50
focused on solving the
in the city from the Pestana Group.developer’s automation industries.” Main
of thisSt. office
asset and building
the next phase that stands
of its
pain pointsin
Located inMidtown
the development
East between pro- iBUILT is redefining the construc- at the gateway
exciting capitalentrance
improvement to the city.plan.
cess.
MadisonTo achieve
and Fifththis,Aves.,thethecompany
40,000 tion value proposition by re-imagin- Ownership
The new unveils
mezzanine a series of prebuilt
amenity level
aims to redefine the96construction Pestanadesign,
ing the entire Hotel lobby
development units,
featuresbrand new turn-key
a modernized options and
cafeteria, fit-
s/f structure contains hotel rooms,
paradigm
gym for guests, a barend-to-end
by using and an outdoortech- and construction processes
have full-length rotating mirrors to create
with new
ness corridors
center with designed
yoga motion by MKDA, room,
nology and offsite
patio. Rooms manufacturing
feature bespoke inte- to end products—buildings—that
hangers attached, TVs, USB sockets are and
lecturenames Newmark’s
hall, lounge Matthew
with billiards and
eliminate inefficiencies
riors and large windows, at some
each stage
with more sustainable,
and high-speed meet the highest
wifi. Leon, Stephen
private dining andGordon,
meeting rooms. Andrew
of the building
balconies andlifecycle,
views oftothe build high-
Empire standards
“With thenationally and areof“smarter”
introduction new ho- Margolin
Ginsburg and
alsoNathan
unveiled Kropp as the
renderings
er
State Building. Design features the
quality smart buildings in half in- than
teliers to New Yorkfrom
those that result City,athetraditional
design leasing
of the new agents forwhich
lobby, the reimagined
will begin
time
cludeand at significant cost
Portuguese-made lightsavings.
fixtures development
of amenities and approach. iBUILT’s pro-
room configurations 850,000 s/f property.
reconstruction soon and will feature
To
andachieve approximately
headboards 20% lower
and photography prietary
continues software
to evolve and
in process
new andensure
excit- theRosemark
same level of Management,
finishes and artwork Levin
construction cost and
by Cátia Castel-Branco. All 50% faster con-
rooms each project’s financial
ing ways that ultimately givesviability with
travelers Management
as the amenity andmezzanine.
Newmark “When collab-
struction, iBUILT uses technology guaranteed budgets and timelines.
more choices in where they stay,” said orated with into
people walk MKDA50 Main to create
St., weawantpre-
and controlled offsite manufacturing, iBUILT has launched with $150
Kaufman. built
themsuite
to feelcampaign
the energy thatandreflects
vibe of thea Shown (from left) are: GDC Principal Martin Ginsburg; ArtsWestchester CEO Janet
Langsam; Business Council of Westchester president and CEO Marsha Gordon and
Mahady joins AKF
and integrates design, detailing, fab-
rication and onsite assembly.
million in signed deals and $600
million of new deals in negotiation,
latest
boutique
homage
design
be activated
sensibilities
hotel
to the
where the
as aArt
while
lobby
Deco history
yet another
paying
common
will
of White Plains mayor Tom Roach
NEW“The development
YORK, NY According process
to AKF,has reflecting interest from developers the landmarked
gathering building.
space within theInbuilding,”
addition
been dysfunctional for developers and owners. Upcoming iBUILT to
saidthe upgraded design, the new
Christina
and
joinedowners
Mahady, P.E.,
the firm’s
LEED
for healthcare
decades—projects
AP, has
practice.
Triton Construction
work includes a multifamily condo
Ginsburg.
prebuilt
A keysuites,
featureranging
of the new in sizeentryfromto
are always over budget With and behind
experience launches
project in BrooklynTriton Interiors
leveraging smart 1,000
50 Main s/f St.
to 45,000
will bes/f, will feature
a monumental
schedule. While other sectors have
designing me- building
NEW YORK,technology; a 100-unit
NY Triton Construction the latest COVID-19
sculpture in front of the safety measures
building that FCA selected to conduct Hoboken Feasibility Study
improved efficiency with systems
chanical techno- affordable
has launched housing
Triton development
Interiors, a new in and
will protocols.
be chosenNew from turn-key options
three finalists NEW YORK, NY According to Francis to upgrade the city’s infrastructure
logical advances, the construction
for healthcare fa- Baltimore; and a 80,000 s/f
division specializing in diversified market also
that include full-floor
participated in anboutique tower
international Cauffman Architects (FCA), they and provide lasting solutions for
industry has largelycilities,remained stag-
Mahady residential
interiors building inMark
construction. NewCherchio
Haven, suites with views
competition ranging in by
coordinated sizeGDCfrom have been selected by the city of Hoboken’s future.
nant. The COVID-19 haspandemic and
built a port- Conn.lead
will iBUILT
the new is also designing
division as theya 2,000 to 3,500 s/f.
and ArtsWestchester. Hoboken, the Hoboken Public Li- The firm will work alongside East
current economic recession have only
folio spanning numberinto
break of the
branded hotels
interior in North
construction “This
“With is thisanexciting
iconic building
new space with
in brary, Stevens Institute ofTechnology, Egg Project Management (East Egg
accelerated the industry North disruption
America, and South America. The
market while continuing to providecompany’s a50rich history and character
Main, we are creating a common that has resent
and the highest
Propelify LLCvalue
to leadproposition
an innova- ments
PM) toincluding
carry out a new lobby that was
a six-month-long
Christina Mahady
underway to developEurope,
more productiveAsia, unique with
clients approach to designing and
the professionalism and been
amenityupgraded
area totobeembrace
enjoyedits byart
alldeco
ten- of any
tion building
center in Midtown.”
feasibility study in the city. relocated
study fundedfrom byBroadway to 43rdEco-
the New Jersey St.,
approaches
and Australia. to construction. Today, it’s
Mahady’s healthcare constructing
dedication sustainable,
expected “smarter”
from Triton. past
ants ininthe
a building
modern,that forward-thinking
reflects today’s 1501
With Broadway’s
an estimated landmarked
completion of May new
nomicoperable windows
Development throughout
Authority. The
more importantexperience
engineering than ever to find ways
includes buildings will transform
Triton Interiors the devel-
will specialize fashion,”
warmer casual said Leon
work of Newmark.
environment, exterior
2020, theisstudy
known forenable
will its four-faced
the city the
goalbuilding, newiselevators
of the project and the
to understand es-
to build more efficiently,
large-scale critical and ambulatory effectively opment process across asset
in outfitting commercial, retail classes,
and “Tenants will appreciate
punctuated by beautiful art through- the efficient clock
to topped
secure by anstate
further ornamental
funding glass
for a calators, upgraded common corridors
physical, programmatic, and policy
and
caresafely,” saidAyall
facilities, Schanzer,infra-
campus-wide chief including affordable
educational buildings with the and market
full layouts
out. We are introducing manyfocus
and hospitality design of thein globe, and its iconic marquee
master plan that will help breathe facing
new and restrooms
initiatives and the
necessary installation
to support en-
strategy
structureofficer
upgrades,at iBUILT. “With
and multiple housing, student
capabilities housing,support
of Triton’s hospitality,
and asame
storied property
resort class that is conveniently
amenities found in Times
life intoSq.
theBeginning
area. Thisin 2018,
news owner-
comes on of Macchiato Espresso
trepreneurship & Wine
and innovation inBar
the
iBUILT, we areprojects.
proton therapy bringing together all retail and along
services, more. with their bonding located
our luxury and well-priced.”
residential properties,” shipheels
the kickedof off a $50 redevelopment
massive million capital as
citya and
food,the
drink and lounge
Hudson Countyamenity
region.
the critical
EHI half page pieces to transform
ad v2 4/5/06
For full story visit nyrej.com how
11:37 AM Page 1 For full
and insurance story visit nyrej.com
resources. Gordon
said Ginsburg. said, “These new suites rep- improvement
projects acrossproject with enhance-
the city—with plans for tenants.
For full story visit nyrej.com
We evaluate the risks.
Environmental Health
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