Industry Vets Break Bread with Time Equities

On Tuesday, December 8th, Francis Greenburger, Michael Rudder and Mike Heller of Time Equities met with six veteran New York commercial real estate brokers to discuss office condominiums and the general state of the market.  The group enjoyed lunch at Francis’ beautiful Greenwich Village townhouse.  Discussions quickly turned to everyone’s vacation plans over the holiday, as well as Francis’ unique art collection.  Attendees included: Sloane Rhulen, CBRE; Matt Bergey, CBRE; Eric Schmall, Studley; Bill Montana, Studley; Nick Berger, Newmark Knight Frank; and Howard Kesseler, Newmark Knight Frank.

/by

Unique Financing for Office Condominium Buyers

http://www.observer.com/2009/real-estate/it-depends-what-your-definition-manufacturing

Good article on a $5m transaction I am working on at 70 West 36th Street. I declined comment to the NY Observer, but I think in cases like this sale government assisted loans, like IDA loans, are a smart way to stimulate the economy. 

/by

Taxi Cab Medallion Lender Purchases Office Condo

http://www.globest.com/news/1528_1528/newyork/181947-1.html

See the story about our recent sale of an office condominium to Progressive Credit Union. While at the closing Robert Familant, Progressive’s CEO, discussed how he recalls sharing a 700 sq. ft. office in the Bronx with his father. Now they are the owner of a $7m piece of a midtown office building. Congrats Robert!

/by

NYC is Still Tasting Good

http://ny.eater.com/archives/2009/09/final_opening_tally_summer_09.php

I’m shocked by this statistic: 95 NYC restaurants closed since June, 136 have opened. It goes to show that even during the midst of a major recession NYC restaurantuers are some of the most entrepenuerial and daring business people. Those who find success balance a perfect combination of economic, creative and marketing skills…..and lots of luck.

Best of luck to all 136 restuarants that have opened…thanks for helping keep NYC the best place on Earth.

/by