commercial observer power 100 section 2011

26 May 3, 2011

This list in 2009 and 2010 reflected a recessionary New York, one thoroughly upended by economic maelstroms like high unemployment and the odd major bank collapse. No one had need of more office space; no one had financing for investments; no one had much to do save get on the blower and commiserate, or, on the odd workday, try to set up sit-downs or walk-throughs. The president of the United States was No. 1 in 2009, because everyone looked to the government for help. Toss me some TALF!

Then, inevitably, as these things seem to go in New York and not in places like Vegas or Mobile, a thaw began. The first inklings came amid the end of landlord concessions, whether for office tenants or those in apartments. Then, round about the summer of 2010, the news of major leases trickled out—foremost, perhaps, that of Si Newhouse (No. 51) intending to park his Condé Nast publishing engine in 1 World Trade, where the development has been organized by the Port Au-thority, led by Chris Ward (No. 70), and where Douglas and Jody Durst (No. 1) have the big private stake. (And simply that there is a 1 World Trade, more than halfway to its 1,776 feet now, is itself a sign of recovery.)

Then, the statistics across the board began to validate the gratingly chipper chatter as office leasing and investment sales picked up, and the housing market steered well clear of an assumed double dip. Suddenly, by the close of 2010, it wasn’t all so much bullshit; the recovery was hap-pening.

The list now is meant to reflect that. Three big things about it:Not since our inaugural Power 100 in 2008 has the upper echelon been so dominated by the

familiar moguls, but not all are patronymically so. There’s a rustling at the top. There are the Durst cousins, yes, and Anthony Malkin (No. 12), Donald Trump (No. 14), the Speyers (No. 15) and Richard LeFrak (No. 20)—and, for that matter, Andrew Cuomo (No. 2)—but also the boot-strap-

py likes of Mort Zuckerman (No. 5) and Andrew Farkas (No. 11), and our very own Richest Guy in Town, Michael Bloomberg (No. 7). We also have relative newcomers, like the benignly voracious Gary Barnett (No. 6); the seemingly ruthless Mikhail Prokhorov (No. 24); and the oddly familiar Scott Rechler (No. 19), back in Manhattan in a big way.

Also, the highest-ranking workaday brokers (aside from REBNY’s chairwoman, Mary Ann Tighe, at No. 18) are Mitchell Steir and Michael Colacino at No. 33, right behind moguls Larry Sil-verstein and Bill Rudin, respectively. Messrs. Steir and Colacino run Studley, a leading tenant-rep firm—not a bad spot to be in now that the commercial market has turned in favor of landlords, and tenants need hand-holding. Other brokers, particularly those in office leasing and invest-ment sales, sprinkle the list’s top two-thirds in the Studley gentlemen’s wake.

Finally, you’ll note the likes of Jay Sugarman (No. 21) and Charles Spetka (No. 27). They and a couple of others have rushed the market in the past year or so to capitalize, literally, on those dis-tressed assets ankling into the recovery. There are more special servicers, as they’re euphemisti-cally called in the industry (thumb breakers would be too direct), on the list than ever before.

A few final notes. As in previous years, the list remains overwhelmingly male (there are 10 women) and white (China’s president, Hu Jintao, at No. 9, is the highest-ranking exception), quite the feat amid the world’s most diverse city. Twenty-seven names from last year didn’t make the cut this year; last year’s Power 100 runs along the bottom of this spread, and an entrant’s 2010 rank appears in parentheses after his or her name, if relevant.

The list was chosen internally by The Observer using subjective criteria, and any comments can be made through our Web site, or by shouting from a moving Town Car on West 44th Street. Slow as you near the InterContinental Hotel; face left.

the power

100The Most Powerful People in New York Real Estate

the commercial observer | observer.com May 3, 2011 27

observer.com | the commercial observer28 May 3, 2011

1Douglas and Jody Durst (8)Chairman and president, respec-tively, of the Durst Organization

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The third-generation heads of this sto-ried real estate family were at the LEEDing edge of pushing green buildings a decade ago, and now they may just lead us out of the recession. Durst/Fetner is working on a residential site on 31st Street and Sixth Av-enue that may be one of the first major proj-ects out of the ground post-Lehman. But it is their BIG pyramid at 57th Street and the Hudson that could ensure the new wave of brash buildings did not wash away with the recession. And need we mention draw-ing Condé Nast from their 4 Times Square to 1 World Trade? We need to: It could help upend the relationship between midtown (bride) and downtown (always the brides-maid).

2Andrew Cuomo (15)Governor of New York

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The onetime enfant terrible of the Dem-ocratic machine has come into his own. But why would this Albany macher with Queens roots be so high on a list dominated by Man-hattanites? Because so much of what Big Real Estate cares about in this town comes down to Mr. Cuomo’s pen or pulpit, includ-ing, but not limited to, rent regulation, 421-a and property taxes. The industry teems with fans of his—Jerry Speyer (No. 15) was

Mr. Cuomo’s biggest individual donor in 2010—a love his dad most definitely never felt.

3Marc Holliday and Andrew Mathias (2)CEO and president, respectively,

of SL Green. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

While its status as the city’s larg-est commercial landlord can be disputed (see No. 4), what can’t be argued is that un-der Messrs. Holli-day (pictured) and Mathias, SL Green has posted some of the most enviable numbers in New

York in recent memory. To wit: As of last month, the REIT owned a financial stake in 61 properties across the city. As it and other REITs gobble up distressed hospitality as-sets as part of a cresting hotel boom, expect those numbers to continue rising.

THE POWER 100


1Jody and Douglas

Durst


THE CADILLAC SRX

IN A WORLD OF LOOK-ALIKES, A CROSSOVER WITH A POINT OF VIEW ALL ITS OWN.

CADILLACTRISTATE.COM

THE NEW STANDARD OF THE WORLD

©20

11 G

ener

al M

oto

rs. C

adil

lac®

SR

X®

PLEASE DO NOT SIT ON THE FENCE.


4Steve Roth and Michael Fasci-telli (4) Chairman and president-CEO,

respectively, of Vornado Realty Trust. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Vornado has qui-etly become the most widely spread REIT in town, with a full or partial in-terest in 95 prop-erties. Just within the past year, they took a 25 percent stake in special servicer LNR Prop-erty Corporation, bought a $600 mil-lion stake in JCPen-ney and joined with SL Green to recapi-talize 280 Park Ave-nue. Mr. Roth’s bud-dy Bill Ackman (No. 17) summarized it best: “Vornado,” he said, “is the only REIT that’s oppor-tunistic.”

5Mort Zuckerman (3)Chairman of Boston Properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Boston Prop-erties just needs one major tenant and it could break ground on 125 West 55th Street, the first office develop-ment since SJP’s 11 Times. Mean-while, the landlord has brought No. 85 Harry Macklowe’s former 510 Madi-

son back to life, with rents north of $100 per square foot and a possible lease by SAC Capital. The REIT owns or has a stake in 14 properties around the city, focusing on the high-end office properties that are coming out of the recession especially strong.

6Gary Barnett (58)President of Extell Develop-ment

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In July 2009, this newspaper dubbed Mr. Barnett “the busiest man in New York real estate.” We weren’t lyin’—though the Extell chief has taken it up a notch of late. The International Gem Tower on 47th Street started to go

vertical this year, and workers are busy at a 70-story hotel-condo on 57th Street. Plus, Mr. Barnett has recently been buying prop-erties like mad near the Gem Tower. More to come coming out of the recession? You will read it here first.

7Michael Bloomberg (9) Mayor of New York. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Christmas blizzard, Cathie Black and a high real unemployment rate haven’t been good for a mayor suffering from third-term flu. But Mr. Bloomberg remains immensely influential for Big Real Estate, especially when it comes to incentivizing develop-ment and ensuring plenty of fresh spaces for it (read: rezonings). It doesn’t hurt that he’s the richest guy in town—this is New York, so that matters—and that he uses his office to advocate the sorts of pro-business policies that make the industry swoon.

8Jonathan Gray (5)Senior managing director and Real Estate Group co-head at

Blackstone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Blackstone, the world’s largest pri-vate-equity group, walloped analysts’ expectations in the first quarter of this year and boasted its best three months since becoming a public company several years ago. The firm’s success was largely cred-

ited to its real estate investments, led by Mr. Gray. The boy wonder finally cracked 40 this year, and recently Blackstone an-nounced that it is planning to raise its next real estate fund, with a target of about $10 billion, later this year.

THE POWER 100

Stephen Ross1. Marc Holliday and 2. Andrew MathisMort Zuckerman 3.

Steve Roth and 4. Michael Fascitelli Jonathan Grey 5. Barry Sternlicht6.

LAST YEAR’s POWER 100

LEADERS IN OWNER REPRESENTATION

absre.com

AND ALL OF THE

NEW YORK OBSERVER’S

100 MOST POWERFUL PEOPLE

IN REAL ESTATE

EARLE ALTMAN

We Congratulate

Earle S. Altman

Steven Hornstock

James Caseley

Alan S. Cohen

Jason Fein

Mary Gallagher

Robert Hadi

Jay Kreisberg

Keith Lipstein

Wynn Mazey

Douglas Regal

Michael Sass

Tom Schwartz

Steven Solomon

Dean Valentino

Gregg L. Schenker

Peter Burack

John Ambrosini

Martin Cappa

Jay Einbender

Ken Findley

John L. Gols

Jason Kling

Joseph LaRosa

Adam Maxson

Rick Meyerson

Amy L. Murwaski

Hector Rodriguez

Ilyse Schwartz

Jack Selig

Mark Tergesen


TD Bank, N.A. | Loans subject to credit approval. Equal Opportunity Lender

You’ve built your business on relationships, why should your banking experience be any different? At TD Bank, we are committed to offering a higher level of personal service. With access to experienced local decision makers who understand your business, your dedicated relationship manager provides innovative solutions — helping you work toward achieving your business goals.

• Commercial Real Estate • Commercial Lending• Asset Based Lending • Cash Management• Equipment Financing • Foreign Exchange

To learn what TD Bank can do for your business, call 1-888-751-9000 or connect to www.tdbank.com.

THE RELATIONSHIP YOU WANT,

FROM THE PEOPLE YOU CAN TRUST.

observer.com | the commercial observer32 May 3, 2011 the commercial observer | observer.com May 3, 2011 33


9Hu Jintao China’s president and general secretary of the Chinese Communist Party

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mr. Hu represents the Chi-nese investors who have beat a steady march to iconic New York properties recently. Li&Fung signed one of the largest leases since Lehman, nearly 500,000 square feet, at the Empire State Building. Vantone Industrial is the only private tenant to have closed a deal at the erstwhile Freedom Tower. A Chinese con-struction firm also purchased the landmarked American Bank

Note Building. Chinese banks also quietly helped refi-nance local towers, in a sign the original other Red State is here to stay.

10Stephen Ross (1), Jeff Blau and Bruce Beal Chairman and CEO, president

and executive vice president, respectively, of the Related Companies. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In Miami he may be best known as the owner of the Dolphins, and in Michigan as an active philanthropist; but if Mr. Ross’ name rings a bell in New York, he has real estate to thank for that. With his net worth at reportedly $4.5 billion, Mr. Ross and the leadership team of Mr. Blau (he works big-picture development mostly) and Mr. Beal (he works day-to-day oversight of said development) have consistently stewarded big ideas, notably the de-velopment of the Time Warner Center and now the cre-ation of the mini-city over the old Hudson Yards.

11Andrew Farkas (12)Chairman and

CEO of Island Capital......................................

Since liquidating nearly all of his co-investments with Dubai World following what can fairly be described as seven of the most devel-opment-crazy years ever recorded in the emirate, Mr. Farkas (pictured with his wife, Sandi) has continued to invest across the world. When he isn’t building high-end marinas and five-star hotels, the babe magnet and real estate magnate is likely yachting or glad-handing the most powerful people in the world (including his former employee, Andrew Cuomo, No. 2).

12Anthony Malkin (18)President of Malkin Holdings. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Following lengthy litiga-tion against former investment partner Helmsley-Spear that resulted in the financial untan-gling of 10 Manhattan proper-ties, Mr. Malkin led a mission to reposition each and every one, including the Empire State Building. The work now nearly completed on all of them, the company has seen dramatic leasing activity throughout its portfolio of buildings. Not too shabby for a supposedly great recession.

THE POWER 100


10Stephen Ross

TIME, OPPONENT, DATE AND CLUB ROSTERS AND LINEUPS, INCLUDING THE NEW YORK YANKEES ROSTER AND LINEUP, ARE SUBJECT TO CHANGE. DISTRIBUTION OF PROMOTIONAL ITEMS IS FOR GUESTS IN ATTENDANCE ONLY, WHILE SUPPLIES LAST. PROMOTION DATES, ITEMS AND DISTRIBUTION ARE SUBJECT

TO CHANGE AND/OR CANCELLATION. * For a limited time only. Tickets are subject to availability. Additional service charges apply. Tickets in select areas of the Terrace Level Outfield, Grandstand Level or Bleachers for $5.RE

F: C

O15

Boston Red Sox – May 13th - 15thMay 13th @ 7:05 p.m.

May 14th @ 7:10 p.m.

May 15th @ 8:05 p.m.

Kansas City Royals – May 10th - 12thMay 10th @ 7:05 p.m. $5 Game*

May 11th @ 7:05 p.m.

May 12th @ 7:05 p.m. $5 Game*

For tickets: call (877) 469-9849 or visit

Game Day Suites are also available on an individual game basis! s@

Upcoming Homestand

Group Party AreasHost your next group outing in one of our unique party areas.

Areas include the Champions Suite, Jim Beam Suite, Malibu Rooftop Deck and the brand new Turkey Hill Ice Cream Group Picnic Area.

[email protected]/grouppartyareas


13Janette Sadik-Khan (95)Commissioner of the Depart-ment of

Transportation......................................

Love her or hate her, no one has trans-formed more of the city over the past two years than the strong-willed transportation czarina. From Broad-way to Water Street to Dumbo, Ms. Sadik-Khan has created sim-ple sanctuaries with little more than as-phalt, paint and some folding chairs. More plazas are on the way,

as are fancy new bus lanes, from the East Side to 34th Street and into the heart of Brooklyn. But it is another set of exclusive lanes, ones involving bicycles, that have shown her true power as Mrs. Moses.

14Donald Trump (16)CEO of the Trump Organiza-tion

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

On page 198 of his 2007 book, Think Big & Kick Ass in Business and Life, Mr. Trump advises, “Because I get screwed all the time, I go after peo-ple. You know what, people don’t want to mess with me as much as others. They know if they do they are re-ally in for a big fight.

Always get even.” The developer of such city sites as the Trump International and Trump Place is not to be trifled with—he remains the personification of New York real estate for the masses.

15Jerry and Rob Speyer (11)Co-CEOs of Tishman-Speyer. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For the average New Yorker, “setbacks” in-clude heavy traffic on the BQE, say, or rain de-lays at a Mets game. For the Speyers, a typical setback might include the $5.4 billion debacle of Stuy Town. Even as that big investment un-raveled alongside the economy, it remained business as usual for the mega-landlords, who have continued to gobble up trophy assets all

across the globe, including a $95 mil-lion asset in Paris and office towers in Washington, D.C.

16Barry Sternlicht (6)Chairman and CEO of Starwood Capital

Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Even three years after the re-cession first sent shivers down the spines of real es-tate investors, money is still hard to find. But not for Mr. Stern-licht’s Starwood, which only a month ago deployed $352 million through three—three!—

separate transactions. Among them, the origination of a $30 million mezz loan on an Upper East Side boutique hotel put the private firm on top of a hospitality boom that experts believe will continue, unimpeded, through the near future.

17Bill AckmanFounder and manager of Per-shing Square Capital

He may be a hedge fund manager, but an upbringing in the bare-knuckle world of New York City real estate made Mr. Ackman one of Wall Street’s shrewdest investors. From his failed takeover of Target (and subsequent suc-cess at JCPenny with No. 4 Steve Roth) to his jaw-dropping buy of bankrupt General Growth Properties, he looks at publicly traded compa-nies as if they were property. Like Stuy Town, where he may not have won out but still broke even by making CW Capital buy him out.

18Mary Ann Tighe (7)Regional CEO of CB Rich-ard Ellis and chairwoman of

REBNY. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Last year, Ms. Tighe was sworn in as the first female chair ever (and first broker in 30 years) of the Real Es-tate Board of New York, the 114-year-old group that secretly runs the city. For the industry, it was a major milestone, but hardly the first big achievement in Ms. Tighe’s prolific career. Her current clients in-

clude biggies like Condé Nast, the Times Com-pany and the Catholic archdiocese of New York.

19Scott RechlerChairman and CEO of RXR Realty

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Formed shortly after the sale of Reckson As-sociates to SL Green in 2006, RXR and its chief

e x e c u -tive, Mr. R e c h l e r, sat on the

sidelines throughout the dark-

est days of the econom-

ic collapse—in part because of a non-compete agreement with SL Green. Now back in action since 2009, the company has amassed some $4 billion in assets and about 11 million square feet of property. Most recently, the group bought into a partnership in-terest at 340 Madison Avenue and took 1330 Avenue of the Americas.

20Richard LeFrak (10)Chairman and CEO of the LeFrak Organization

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If you’ve ever driv-en through Brooklyn, Queens or New Jer-sey, chances are you’ve come across one of the more than 70,000 mostly blue-collar apartments developed by the LeFrak Organi-zation since its start in 1901. But under the blunt Mr. LeFrak, the company’s third-gen-eration president, the group has swerved in a new direction, primarily toward upscale resi-dential assets and loads of commercial office properties, which now represent 40 percent of its income.

21Jay Sugarman (52)CEO and chairman of iStar Financial

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Look no further than the ticker to see that among mortgage REITs, iStar Financial is the leader of the pack. Last month, in fact, the group outper-formed all competi-tors by posting a 77 percent gain in trad-ing activity on April 17. Meanwhile, after months of shopping

around $84 million in debt at the foreclosed-upon 47 East 34th Street, Mr. Sugarman, it ap-pears, may have finally found a buyer in the investment firm CIM Group. If the troubled building changes hands, it will be another ac-complishment.

22Sheldon Silver (17)Speaker of the New York State Assembly

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If you’re reading this paper, chances are you’re a real estate in-dustry professional. What’s also somewhat likely is that you pull in more than $300,000 a year. If that’s you, then Mr. Silver is your guy. In office since God was a boy, the speaker is calling for a controver-sial expansion of rent-regulation laws that would offer protection to some of the city’s wealthiest people. Love him or hate him, Mr. Silver will not be ignored.

23Howard (21) and Steve Rubenstein Chairman and president,

respectively, of Rubenstein Communica-tions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Talk to a reporter, likely a member of the so-called liberal me-dia, and most will say it isn’t the oil barons, gun lobbyists or Sar-ah Palin that truly ruf-fle their feathers but, rather, the spokespeo-ple representing them and others. Be that as it may, these are the gatekeepers who keep their clients on top and the journalists at bay. For this father-son duo (father pictured), that strategy is routinely applied to many of the names on this list.

24 Mikhail Prokhorov (43)Controlling owner of the New Jersey Nets

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

When Mr. Prokhorov stepped forward last year as the new owner of the New Jersey Nets, he not only established himself as the latest real estate investor to interlope the city’s grid-lock of property assets, but also forced himself onto Gotham’s cultural scene. So much so that New York magazine named him as the leader of the city’s “Global Russians.” Whether he can really make it in this town has yet to be seen, but, either way, for now he’s bought himself a ticket to the top.

THE POWER 100


17Bill Ackman


24Mikhail

ProkhorovMary Ann Tighe7. Douglas and Jody Durst8. Mike Bloomberg9.

Richard LeFrak10. Jerry and Rob Speyer11. Andrew Farkas12.

Carlos and Tony Slim13. Craig Newmark14. Andrew Cuomo15.

LAST YEAR’S POWER 100


AP

PLA

US

EWe salute

our leaders

Marc HollidayChief Executive Offi cer

and

Andrew MathiasPresident

on being recognized

by The New York Observer

for the third consecutive

year among the Top 100

Most Powerful People

in Real Estate.

Congratulations to

all the honorees.


25Robert Stuckey, Mark Schoenfeld, and Andrew Chung (50)

Managing directors of the Carlyle Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

How could the Carlyle Group and its partners possibly top last year’s bonanza $300 million lease to Japanese retail cloth-ier Uniqlo at 666 Fifth Avenue? Why, by en-listing Messrs. Stuckey, Chung (pictured) and Schoenfeld to do more of the same. As managing directors, the team has been be-hind some of the city’s biggest deals of the last few years, and few real estate observ-ers believe that their pace will slow soon.

26Christine QuinnSpeaker of the New York City Council

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

No public official has been quite so vocal a critic of Wal-Mart’s entry into New York as Ms. Quinn. “Wal-Mart is something I am not supportive of,” she said plainly back in

December. Since then, she’s met with exec-utives at the retail behemoth and watchers say she is trying to strike a middle ground. If the country’s largest retailer does secure entry into the city, it will no doubt signal a rush of new real estate activity across the boroughs. That is, if Ms. Quinn, a 2013 may-oral hopeful, allows it.

27 Charles Spetka (32)President of CW Capital

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

When the econ-omy tanked, Mr. Spetka of CW Capi-tal Asset Manage-ment came running. As a “special ser-vicer,” the company has been behind the complicated finan-cial restructurings of some of the city’s most mammoth properties, includ-ing Stuyvesant Town and Peter Cooper Vil-lage, Riverton and the W Hotel Downtown. Slowly but surely—and very quietly, too—the group is becoming a big player.

28Christoph Kahl, Matt Bronfman and Michael Phillips

Founder and managing directors, re-spectively, of Jamestown Properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

For the 27-year-old Jamestown Proper-ties, moderation has been a guiding light, and never more so than during this latest economic cycle. For Messrs. Kahl, Bronf-man and Phillips, the strategy has paid off. While inching toward what may well be a whopping $1.9 billion sale of its 2.9 mil-lion–square–feet building at 111 Eighth Av-enue to Google, the owner of more than 80 U.S. properties is also swooping up assets across the country.

THE POWER 100


26Christine

Quinn

Donald Trump16. Sheldon Silver17. Peter and Anthony 18.

MalkinSam Zell19. Chris Ward20.


To purchase a subscripTion To The commercial observer,

please call 212.407.9331To adverTise in The commercial

observer, please conTacT robyn Weiss, 212.407.9382

561 SEVENTH AVE, 15TH FL NY, NY 10018 212.398.1888 HANDLER-RE.COM

HANDLER REAL ESTATE

ORGANIZATIONWE CAN HANDLE IT

INNOVATIVE RETAIL

ALL NEWHANDLER

WE ARE PLEASED

TO ANNOUNCE THAT

TIR NA NOGAN IRISH BAR AND GRILL

HAS EXPANDED TO A SECOND

NEW YORK LOCATION AT

315 WEST 39TH STREET.THE COMPANY ALSO

OPERATES RESTAURANTS IN

PHILADELPHIA & BALTIMORE.

315 WEST 39TH STREET IS OWNED AND MANAGED BY HANDLER AND ITS AFFILIATES


Anchin, Block & Anchin LLP

Accountants and Advisors

1375 Broadway, New York, NY 10018

At Anchin, we have a large team of professionals

experienced in the complexities of real estate accounting

and taxation. Our professionals excel at creating innovative

solutions to intricate issues, utilizing tax laws and incentives

to our clients’ greatest advantage. We serve owners, brokers,

developers and property managers. To learn how Anchin can

Your Expert Partner.

Marc Wieder, CPA

Rise to the Top. 29Lloyd Goldman (36)President of BLDG Man-agement

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

“I can tell you he’s licking his chops about buy-ing property in the next few months,” one colleague of Mr. Goldman’s told The Observer back in 2008. It was an apt assessment of the mega-private mega-landlord footing the bill at some of

No. 31 Larry Silverstein’s developments at ground zero. Indeed, the magnate has been buying properties like 1372 Broadway at a deep discount since the recession struck and seems to be continuing his brisk pace with no immediate plans to slow down.

30Jeffrey Feil (23)CEO of the Feil Organi-zation

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Like Lloyd Goldman (No. 29), Mr. Feil is one of the “New York guys” who repeated-ly helms some of the biggest deals in the city while remaining fairly anonymous. He was a part of the team that bought the

Sears Tower in Chi-cago, and his com-pany owns local properties like 200 West 57th and 488 Madison. Most no-table, however, was his role in the $590 million purchase of Worldwide Plaza in 2009.’

31Larry Silverstein (33)President and CEO of Sil-verstein Properties

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

From his office at 7 World Trade Center, Mr. Silver-stein has estab-lished himself as a sort of patriarch of downtown. He con-tinues cheerleading for the World Trade Center site, includ-ing inking a major lease with the city at 4 WTC; he’s also signed a number of nonprofits at 120 Wall Street. With discernible progress on the WTC towers, which are set for completion in 2013, he has his hands on some of the city’s only large available Class A office space.


33Mitch Steir

THE POWER 100

LAST YEAR’s POWER 100Howard Rubenstein21. Steven Spinola22. Jeffrey Feil23. Bill Rudin24. Mitch Rudin25. Jeffrey Gural, Barry 26. Gosin, Jimmy Kuhn

and David FalkPeter Riguardi27. Mitch Steir and Mike 28. ColacinoRonald Kravit29. Keith Barket and Adam 30. Schwartz

To purchase a subscripTion To The commercial observer,

please call 212.407.9331To adverTise in The commercial

observer, please conTacT robyn Weiss, 212.407.9382


32Bill Rudin (24)Vice chairman and CEO of Rudin Management Com-

pany. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

After a rush of re-financing between 2006 and 2008, the relatively debt-free Rudin Management Company swung back into business, includ-ing its push for luxury condos at St. Vincent’s Hospital in Greenwich Village. But like most family-owned real es-tate companies, Rudin

has remained cautious, choosing to renovate existing buildings, rarely selling assets and only acquiring the best properties for some meaty leases, including the NFL in 345 Park last summer. Touchdown!

33Mitch Steir and Michael Co-lacino (28)Chairman-CEO and presi-

dent, respectively, of Studley. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Under the leadership of Messrs. Steir and Colacino, Studley landed the city’s two larg-est deals of 2009 (242,464 square feet for Wa-chtell, Lipton, Rosen & Katz and 230,000 feet for Ralph Lauren). Last year, the firm inked a 260,000-square-foot office deal for Tiffany & Co. So what does a tenant-rep firm like Stud-ley do to top itself in 2011? With the economy looking sunnier, we’re betting on much more of the same.

34Adam Schwartz (30)Head of U.S./Europe Real Estate at Angelo, Gordon

& Co.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

It was in early 2010 that Keith Barket, An-gelo, Gordon’s long-time real estate head, and Adam Schwartz undertook a joint ven-ture with Extell De-velopment to pur-chase the Helmsley Carlton House Hotel for $170 million. Only nine months later, Barket died of stom-ach cancer, leaving Mr. Schwartz to guide An-gelo, Gordon’s stealth real estate ship.

35David Denison President of the Canadian

Pension Plan Investment Board. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The future of more than 17 million graying Canucks rests with New York real estate. The fund, paid into by Canadian taxpayers, is entrusted with a whopping $140 billion in funds, includ-ing at least $8 billion for in-vestment in real estate (in Canadian dollars, now worth slightly less than the greenback). It burst onto the scene in 2010, buying a 45 per-cent interest in SL Green’s 1221 Sixth Avenue for $576 million. An Ontario pension fund has also invested in Related’s Hudson Yards proj-ect.

36Doug Harmon, Adam Spies (47) and Ben LambertSenior managing directors

and chairman, respectively, at Eastdil Se-cured

......................................

Mr. Harmon and his colleagues, Messrs. Spies (pictured) and Lambert, have the an-swer to one of the must-buzzed-about ques-tions of last month: Who is the buyer, per-haps famous, of the storied Chelsea Hotel? Eastdil Secured acted as the broker, but have,

thus far, refused to reveal his or her identity. It is as close to a mystery as we can hope for in the world of real estate, and the powerful trio is at the root of it. All the while, they’ve been inking other deals, like a $2 billion half-stake at 1633 Broadway.

37 Ric Clark (39)CEO of Brookfield Properties

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Barely four months into a young year, Brookfield is already busy. In January, the publicly traded land-lord purchased a stake in General Growth Properties valued at $1.7 billion, and in March it signed two huge leases at 2 World Financial Center. The largest downtown landlord, with 12.9 square feet, Brookfield is also planning one of the city’s largest new de-velopments, a 5.4 million–square–foot mixed-use project at 400 West 33rd Street.

38Doug Shorenstein (37) and Mark Portner Chairman-CEO and manag-

ing director, respectively, of the Shoren-stein Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Shorenstein Proper-ties is in a league of its own when it comes to raising equity. Last month, the San Francisco–based private real estate management concern put the lid on an investment fund—its 10th, in fact—valued at $1.23 billion. No doubt, a goodly portion of that capital will be focused on scooping up office properties in New York, a city that the company penetrated with zeal 10 years ago under the pictured Mr. Shorenstein’s leader-

ship (Mr. Portner’s their guy in the Eastern U.S.). With 14 Wall and 450 Lex already in its portfolio, expect big acquisitions in the firm’s near future.

39Jeffrey Gural, Jimmy Kuhn, Barry Gosin and David Falk (26)

Chairman, president, CEO and tristate president, respectively, of Newmark Knight Frank......................................

With Mr. Gosin as a lead broker, Newmark Knight Frank was the runner-up for the Real Estate Board of New York’s 2011 “Most In-genious Deal of the Year” award for the 247,433-square-foot deal for Local SEIU 32BJ. (Another New-mark broker took first place.) Such are the signs that the firm’s in-fluence, not only in leasing but in ownership, continues to increase under the ultimate helm of the likable lefty, Mr. Gural (pictured).

40Darcy Stacom and Bill Shanahan (46)Vice chairmen at

CB Richard Ellis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Ms. Stacom is synonymous with big deals: the $5.4 billion sale of Stuyvesant Town and Peter Cooper Village in 2006; the sale of the former AIG headquarters at 70 Pine Street in 2009; and don’t forget the record-shattering $2.8 billion sale of the General Motors build-ing in 2008. No slouch himself, Mr. Shanahan has been ranked first among CBRE profession-als worldwide for the past five years running.

THE POWER 100

Adam and Amy Rose31. Charles Spetka32. Larry Silverstein33. Amanda Burden34.

Jeff Horowitz35. Lloyd Goldman36. Doug Shorenstein37. Howard and Edward 38.

MilsteinRic Clark39. Thomas Hughes40. William Mack, Lee 41.

Neibart, Richard MackHoward Lutnick, Steve 42. Kantor and Anthony OrsoMikhail Prokhorov43.



40Bill Shanahan

and Darcy Stacom


TEN ART DECO BUILDINGS. SIX NEW YORK CITY BLOCKS. NINE MILLION SQUARE FEET OF OPPORTUNITY.

ROCKEFELLER CENTER.

ACQUISITION

DEVELOPMENT

LEASING

PROPERTY MANAGEMENT

INVESTMENT MANAGEMENT

tishmanspeyer.com

At Tishman Speyer, we

convert opportunity into

value through our expertise

in every aspect of real estate.

Our global professionals work

collaboratively across disciplines

and borders to bring together

our market-driven insights,

experience and expertise.

All of which allows us to

create properties of enduring

value around the world.


Massey Knakal Commercial Real Estate Investment Summit

Join us on Friday, May 20 in Midtown Manhattan and earn continuing education credits for a full day of discussion, debate, and networking designed for the commercial, o�ce, retail, hotel, and industrial real estate professional.

Save 25% with the promo code OBSERVER for all Commercial Observer readers

Featured Speakers include:

Visit www.greenpearlevents.com/mkcreis for program information and to register. Questions? Contact [email protected] or call +1 646 862 6136

May 20, 2011 McGraw-Hill Conference Center New York, New York

o�ce.retail.hotel.industrial.

Richard Clark President & CEO

Brook�eld Properties

Sharif El-Gamal Chairman & CEOSOHO Properties

Harry Macklowe Founder & Chairman Emeritus

Macklowe Properties

Larry Silverstein President & CEO

Silverstein Properties

41 Toby Cobb and Justin KennedyCo-CEOs of LNR Property

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Sprung from Wall Street, where both enjoyed fruitful careers, Messrs. Cobb and Kennedy joined LNR Property in Octo-ber. Under the ownership of Vornado Re-alty Trust, the group has wasted no time in spearheading a number of investment goals, partly with a $200 million fund launched last year.

42Scott Latham, Rich-ard Baxter, Yaron Co-hen and Jon Caplan

(48)Capital Markets team at Jones Lang LaSalle. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

When Jones Lang LaSalle last spring poached this team from Cushman & Wakefield, the news clanged around the industry—how dare they? What lured the dapper quartet, to hear it from well-placed sources, was the firm’s willing-ness to expand the group’s investment sales and capital markets platforms. By all accounts, they’ve taken what was given to them by JLL and run with it.

43Steven Spinola (22)President of the Real Es-tate Board of New York

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Real Estate Board of New York is among the most powerful trade groups in the country, if not the world. Its president since 1986, Mr. Spinola (pictured below) re-mains the go-to guy on industry issues, in-cluding, but not limited to, 421-a, rent regs, property taxes, J-51 and the 9/11 terror tri-als, which were supposed to take place downtown—until Mr. Spinola and his team pulled some strings in Washington. That’s power, kids.

David Levinson and 44. Rob Lapidus Arthur and William 45. ZeckendorfDarcy Stacom and Bill 46. ShanahanDoug Harmon and 47.

Adam SpiesScott Latham, Richard 48. Baxter, Yaron Cohen and Jon CaplanGlenn Rufrano49. Robert Stuckey, 50. Mark Schoenfeld and



42Jon Kaplan,

Richard Baxter, Ron Cohen and Scott Latham

THE POWER 100


212.602.0867 TrinityNYC.comAvailabilities updated weekly

A Triple Play:3 Deals - Over 300,000 SF

We’re pleased to announce:

Omnicom Grouphas leased

147,000 SF at 1 Hudson SquareLee N. Feld and Andrew Beckler of Feld Real Estate LLC represented the tenant.

Robert Constable, Andrew Peretz, Mikael Nahmias and Carlos Suarez

of Cushman & Wakefi eld represented ownership.

Penguin Grouphas renewed its lease of

136,000 SF at 345 Hudson StreetRichard Berzine, Robert J. DeAngelis and Richard A. Fenn

of Richard Berzine & Company, Ltd. represented the tenant.

Horizon Mediahas leased an additional

33,000 SF at 1 Hudson Square

and now occupies a total of 150,000 SFBrian Cohen, Chris Mongeluzo and Moshe Sukenik of Newmark Knight Frank represented the tenant.

Robert Constable, Andrew Peretz, Mikael Nahmias and Carlos Suarez

of Cushman & Wakefi eld represented ownership.

Assistant Vice President of Real Estate Leasing

Peter Fontanetta212.602.0854

Assistant Vice President of Real Estate Leasing

Tom Lynch212.602.9693

Senior Vice President of Real Estate Leasing

Marc Packman212.602.9678

PresidentJason Pizer

212.602.0819

For leasing information, please call:


44Leonard Litwin and Gary Jacob (51)Chairman and executive

vice president of Glenwood Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Long before the recession turned condo developers across the city into rental mavens, Messrs. Lit-win (pictured) and Jacob were focusing exclusively on the rental market. Now more than ever, the strategy has paid off, as even the most stable New York-ers turn away from pricey condos in ex-

change for rentals they can more easily walk away from. So it’s no surprise that, after buy-ing land from Fordham for $125 million earlier this year, Glenwood is doing more of the same: a planned 54-story rental tower at 160 West 62nd Street near Lincoln Center.

45Dottie Herman and How-ard Lorber (63)President-CEO and

chairman, respectively, of Prudential Douglas Elliman. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The city’s biggest brokerage just keeps getting bigger, having added 822 brokers last year—during some of the darker days of the downturn, no less. A big part of their secret is chasing all those punch-drunk condos, helping to unwind the whole mess. The firm has also been ramping up its own eponymous Developments division. And as a side project, Mr. Lorber has been quietly flipping tony townhouses that he bought on the cheap during said downturn.

46 Pam Liebman (66)CEO and president of the Corcoran Group

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Corcoran may not have the cachet of some of its competition on this list, but they own much of the middle market, especial-ly in Brooklyn, where Ms. Liebman led an aggressive charge in recent years. There have been some embarrassments over the past year, including a discrimination suit from an overweight ex-employee. Still, the firm’s chief has done much to cut costs and keep it afloat, despite takeover rumors.

47David and Jed Walentas (82)Founder and director of

daily operations, respectively, at Two Trees Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Everybody knows about Dumbo, the land of pollutant-belching manufacturers that, relatively speaking, became a New York wonderland overnight. Now, with the build-ings built and the space leased, what else are David and son Jed to do but hop over to Manhattan to re-create another swath of land in their own image. To be sure, the duo started construction on a 900-unit rental on 54th Street near 11th Avenue and inked a deal for a 340,000-square-foot office loft at 50 West 23rd.

Andrew ChungLeonard Litwin, Gary 51. JacobJay Sugarman52.

Bruce Ratner53. Stephen Seigel54. David Paterson55. Stefan Solow56.



47David and Jed

Walentas

THE POWER 100

Leasing. Property Management.Investment Sales. Advisory Services.absre.com.212.400.6060

In today's complex and changing real estate marketplace, you need to work with experts who share your vision for success and have the experience to make that vision a reality.


New York University is an affirmative action/equal opportunity institution. ©2011 New York University School of Continuing and Professional Studies. Photograph by Nelson Bakerman, Photographer.

scps.nyu.edu/x633

If it’s about to happen in real estate, it’s already happening at NYU Schack.

Over 500 Industry CoursesProfessional Licensing ProgramsGraduate Degrees Certificate Programs

Susta

inabil

ity

TechnologyGlobal

Publi

c/Pr

ivate

Divers

ity

Continuing Education Information Session: Tuesday, May 10, 6–8 p.m. Graduate Information Session: Wednesday, June 15, 6–8 p.m.Visit our website for more information on all our programs and Information Sessions.

Technology. Sustainability. Diversity. Public/Private partnerships. All operating in an increasingly global environment. The dynamic forces that shape — and will continue to shape — real estate de�ne the curriculum at NYU Schack, real estate’s premier institute of higher learning. Our faculty is comprised of the industry’s foremost practitioners, who combine real-world insight, theory, and empirical research to prepare the next generation of leaders for the highest levels of professional success. Visit us online to learn more.

For information on noncredit programs: 1 800 FIND NYU, ext.633For information on credit programs: 212 998 7100


48Bruce Ratner (53)Chairman and CEO of Forest City Ratner

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With the last of the lawsuits behind him, Mr. Ratner began work on what may still be the most cutting-edge arena in the country, even without Frank Gehry designing it. The developer is struggling to find financing for the first apartment tower on the site—but if he does, there are rumors it could be the largest prefabricated structure in the world, and something with the possibility to transform the way New York builds. And there is a certain Manhattan apartment building he and Mr. Gehry managed to fin-ish together.

49David Levinson and Robert Lapidus (44)CEO-chairman and

president-CIO, respectively, of L&L Holding Company. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

When L&L Holding Company completed the $135 million renovations of 200 Fifth Avenue—formerly the International Toy Center—it was the most costly private en-deavor of its kind in the city. That the very expensive repositioning happened in 2009 and 2010—at a time when few others were willing to spend that kind of coin—seemed to mirror Messrs. Levinson and Lapidus’ fearlessness in the face of an unsteady economy.

50Constantine Dakolias and Chris LinkasManaging directors of

Fortress Investment Group. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Since the middle of last year, the For-tress Investment Group has seen its profits rise after a long lull. And so the hedge fund has once again begun gobbling up both big companies and properties with abandon. Speaking of the latter, it has been thanks to the leadership of managing directors Con-stantine Dakolias and Chris Linkas that the company has regained its footing and in-vestment savvy with regard to real estate.

Avi Banyasz57. Gary Barnett58. Peter Duncan59. Ray Kelly60. Charles Bagli61. Dan Tishman62. Howard Lorber and 63. Dottie HermanJay Walder64.

Peter Hauspurg and 65. Daun ParisPam Liebman66. Stanley and Haim 67. CheraJonathan Mechanic 68. and Stephen LefkowitzJoe Ficalora69. Robert Knakal and 70.



48Bruce Ratner

THE POWER 100THE SUCCESS OF 40 WALL STREET CONTINUES...

WE WOULD LIKE TO THANK THESE TENANTS AND BROKERSWHO HAVE LEASED OVER 350,000 SQ. FT.

For more information please contact:Jeffrey A. Lichtenberg • Special Consultant to the Owner • 516.314.4458

Adam Foster 212.618.7088 • [email protected] Gerla 212.618.7066 • [email protected]

Michael Higgins 212.618.7011 • [email protected] Rothkin 212.984.8192 • [email protected]

40WALLSTREET.COM

Solomon Blum Heymann LLPJohn Moran, Adam Leshowitz, Newmark Knight Frank

XcitekSolutionsPlusRichard Levine, Michael Rizzo, CB Richard Ellis

HAKS Engineers and Land Surveyors Mark Shapses, Cushman & Wakefield

Telstra IncorporatedRobert Tanzmann, Cushman & Wakefield

Brokerage & Management CorporationJohn Johnson, Nicholas Farmakis, Studley

Core Staffing Services Mike Zaleski, Zaleski Properties

NYG Capital LLCAriel Cohen, Prudential Douglas Elliman

RRZ Management Inc.Ariel Cohen, Prudential Douglas Elliman

Managed Health Network Inc.Scott Panzer, Jones Lang LaSalle

Direct Access Partners LLC Ruth Colp-Haber, Wharton Property Advisors

GDS Publishing, Inc.Jared Freede, CB Richard Ellis

Spyker Consulting,Inc.Jared Freede, CB Richard Ellis

Infinitel Communications, Inc. Joseph Hilton, Grubb & Ellis

Accounting and Compliance InternationalWes Rudes, Richard Doolittle, Murray Hill Properties

XO Communications Services, Inc.Brian Reiver, Scott Cahaly, Jones Lang LaSalle

Zaremba Brownell & Brown PLLCDan Suozzi, Jones Lang LaSalle

Star Alliance Trading Group LLC Dan Suozzi, Jones Lang LaSalle

Country Wide Insurance CompanyMark Weiss, Newmark Knight Frank

Vertex Capital Management Dawn Frojen, Prudential Douglas Elliman

Clancy Financial Services, Inc. Oakwood Asset Management, LLC Rosen Greenberg Blaha LLP Rosabianca & Associates PLLC

WALL STREET PRESTIGE.

TRUMP ELEGANCE.

www.cbre.com

1. REBNY brokers are bound by a Code ofEthics that serves the client’s best interests.

2. REBNY brokers have exclusive access to the most comprehensive computerized NewYork City property data file and the largestreference library of any realty association inthe city.

3. The Commercial Listing Exchange (CLE) per-mits REBNY broker and owner members toexchange their exclusive New York City com-mercial space listings weekly.

4. The Retail Report, with the cooperation ofNew York City retail brokers and owners ofstore space, is the most authoritative sourceof retail information for Manhattan.

5. REBNY brokers are highly knowledgeableabout laws, regulations and other publicpolicies affecting real estate because of theBoard’s Government Affairs programs, spe-cial bulletins and publications.

To check if your broker is a member of the Real Estate Board ofNew York, and for more information, visit www.rebny.com or call212.532.3100.

5Reasons why youshould

insist on a REBNYBroker

for yourcommercial

Property

Over 100 Years of Building and Serving New York

REAL ESTATE BOARD OF NEW YORK


BUILDER | OWNER | MANAGER Equal Housing Opportunity.

Glenwood Proudly Congratulates

LEONARD LITWIN, Chairman andGARY JACOB, Executive Vice President

and all “The Power 100” honorees

Stylishly Green,Elegantly Glenwood

The Finest Manhattan Rentalsin the

Neighborhood of Your Choice

Uptown LuxuryLeasing Office

212.535.0500

Downtown LuxuryLeasing Office

212.430.5900

Open 7 days, 10AM–6PM • No FeeFree parking while viewing apts

GlenwoodNYC.com


BLOOMFLOWERS.COM

© 2010 Friedman LLP. All rights reserved. An Independent Member Firm of DFK with Offices Worldwide

NEW YORK | NEW JERSEY | LONG ISLAND

Real Estate is about more than steel and glass.

It’s about a myriad of timely business decisions

essential to maximizing the return on your

properties. That’s why you need an accounting

firm with real expertise. For over 85 years Friedman

LLP has successfully guided our clients through

the financial complexities of the ever-changing

market, and helped them recognize and take

advantage of every opportunity along the way.

So when your real estate business needs

expertise, build a relationship with Friedman.

FRIEDMAN – THE NAME YOU SHOULD KNOW.®

E PERTISE

51Si NewhouseChairman of Condé Nast

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Condé Nast, the parent company of magazines like Vogue and Vanity Fair, demonstrat-ed it had affordable yet decidedly fash-ion-forward taste in office space in the ’90s, moving from Madison Av-enue to the Durst

Organization’s then-new 4 Times Square and helping kick off a boom in property val-ues. Hopes are high that Condé will likewise boost the downtown office sector, now that it’s submitted a letter of intent to take 1 mil-lion square feet at another Durst work: 1 World Trade Center.

52Dean SkelosMajority leader of the New York State Senate

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The Long Island Republican, more than any other elected official at the state level, is taking a stand against the extension of rent-regulation laws—and that’s a power move that, it’s safe to say, most in the real estate industry are rooting for.

53Ron Kravit (29)Managing director at Cerberus Real Estate

Capital Management. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

As one of the largest private-equity in-vestment firms in the U.S., when Cerberus sneezes markets move. So it’s on Mr. Krav-it, who specializes in real estate private equity, to make sure that the trains run on time. The former Blackacre Capital head has overseen high-profile acquisitions of the discount chain Mervyns and grocery store Albertsons while also overseeing the financing for a number of commercial and residential projects across the country.

54Paul Pariser and Charles BenditCo-CEOs at Taconic In-

vestment Partners. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Going into the recession, Taconic Invest-ment Partners had an ace in the hole in that they had just made a $300 million profit on 450 Park, which they sold at the market’s peak for $500 million. And while Mr. Pariser (pictured) admit-ted to The Observer in 2009 that times were indeed tough, he and Mr. Bendit bounced back with the titanic sale of 111 Eighth to none other than Google.

Paul Massey Jr.Jeff Sutton71. Robert Ivanhoe72. Robert Lieber73. Philip Green 74. Arnold, Kenneth, 75. Steven and Winston Fisher

Archbishop Timothy 76. DolanMike Fishman77. John Sexton and Mike 78. AlfanoJames Cooper79. Diane Ramirez80. Aby Rosen81.


THE POWER 100


52Dean

Skelos


P R U D E N T I A L D O U G L A S E L L I M A Nproudly congratulates our own

D O T T I E H E R M A N , H O W A R D L O R B E RA N D R A P H A E L D E N I R O

on being honored among The New York Observer’s

“ 1 0 0 M O S T P O W E R F U L P E O P L E I N N E W Y O R K R E A L E S T A T E ”

CONGRATULATIONS

©�� An independently owned and operated member of the Prudential Real Estate Affiliates, Inc. is a service mark of Prudential Insurance Company of America. Equal Housing Opportunity.


Catch every RBIlike a VIP.

REF:

CO

16

Game Day Suites are now available on an individual game basis.

Bring your family, friends or business associates to Yankee

Stadium for a group outing and enjoy Yankees baseball

in the comfort and privacy of your own suite!

Suites can accommodate groups as small as 12 and up to

382 guests with all-inclusive food and non-alcoholic

beverage packages. Make your special occasion legendary!

(212) YANKEES

Preferredby

A Proud Tradition. A Legendary History.

55Stanley and Haim Chera (67)Principals of Crown Ac-

quisitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With the pur-chase early last year of the St. Re-gis retail condo-minium, the Cheras catapulted to the more regal ranks of the real estate lions. With 24,700 square feet of space, leased to no less shabby a re-tailer than De Beers

Diamond Jewelers, among others, the deal commanded a whopping $117 million.

56Jay Walder (64)Chairman of the Metro-politan Transit Authority

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The looming sale of its midtown head-quarters and two Madison Avenue build-ings. The relinquishment of development rights over the West Side Yards. And the give-away of air rights at the Brooklyn rail yards. Indeed, sometimes it’s easy to forget that the M.T.A.’s job is to make the trains and buses run on time sometimes. But un-der Mr. Walder, the first transit pro to hold the job, New York’s corpuscular labyrinth of tracks has played second fiddle only to the agency’s real estate dealings.

57John Sexton, Mike Alfano (78) and Alicia Hurley

President, executive vice president and vice president of government af-fairs, respectively, of New York Uni-versity

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Like Columbia University, its equally capable collegiate counterpart, N.Y.U. has been on an expansion tear. To read the blogs and listen to preservationists, the push to develop 2 million square feet of new classroom space, dormitories and of-fices is a death knell for Greenwich Village. But under this trio, the school is doing what it believes needs to be done to com-pete in academia.

58Jeff Sutton (71)President of Wharton Properties

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .It’s easy to imagine that Mr. Sutton walks

the streets with his head down, eyes fo-cused on the ground floor. Again and again, he succeeds in his real estate investments by repositioning retail properties from the ground up—namely through his keen sense of sidewalk-facing retail pursuits. He brought American Girl to 609 Fifth and Abercrombie & Fitch to 720 Fifth, and was heavily involved in the Aeropostale deal at 1515 Broadway.

59Mitch Rudin (25), Rob-ert Alexander and Ste-phen Siegel (54)

Tristate president and CEO, tristate chairman and global brokerage chair-man, respectively, of CB Richard Ellis. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Under Messrs. Rudin, Alexander and Siegel (and Ms. Tighe, No. 18), the city’s largest commercial real estate brokerage has tallied endless best-of-the-year acco-lades, curated many of the biggest deals of the past few years and, generally, stayed afloat in the recession, only seeming to grow in size and influence. Their clients span this list.

THE POWER 100


57John

Sexton


David and Jed 82. WalentasHall Willkie83. Joseph Strasburg84.

Peter Ward85. Veronica Mainetti86. Ralph Herzka87. Nochi Dankner88.


60Peter Riguardi (27)President of Jones Lang LaSalle

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Jones Lang Lasalle has earned its reputa-tion as one of the industry’s most aggressive brokerages, scoring a high-profile investment-sales team from Cushman & Wakefield led by Mitchell Konsker, along with new leasing as-signments, such as 625 Sixth Avenue. The firm is charged with leasing Goldman Sachs’ for-mer hub at 85 Broad Street, too, currently the emptiest building in the city.

61John Pelusi and Mike Tepe-dino CEO and senior managing

director, respectively, of HFF. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Debt placement, investment sales, structured finance and distressed assets are all specialties that HFF, the capital markets and commercial

real estate servicer, has used to its advantage during the tumultuous throes of the Great Re-cession. Under Messrs. Pelusi and Tepedino, the group has taken advantage of markets from here to Dallas, closing, on average, two deals daily, each valued at $1 million or more.

62Paul Massey and Robert Knakal (70)CEO and chairman, re-

spectively, of Massey Knakal Realty Ser-vices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One holds a black belt in tae kwon do and the other has great hair. But beneath the sur-

face stuff, Messrs. Massey and Knakal over the past 22 years elevated their concern into liter-ally New York’s busiest investment sales bro-kerage. This year, coming out of the recession, they have begun to expand big time, launch-ing a retail-leasing division under Benjamin Fox and a capital-markets group under Gar-rett Thelander. What does Rahm Emanuel al-ways say? Never let a crisis go to waste.

63Glenn RufranoCEO and president of Cushman & Wakefield

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .Since taking the reins of Cushman & Wake-

field in March 2010, Mr. Rufrano has taken

pains to visit many of the 230 offices the firm operates across 60 countries. What’s more impressive is his ability to stave off wide-spread rumors that he was brought in to boost the business for an eventual sale. “The reason I was brought in—and what my tour is—is to maximize the value of Cushman & Wakefield,” he told The Times. Either way, the proven ex-ecutive will continue to have his hands full.

THE POWER 100


62Robert Knakal

Dolly Lenz89. Lee Bollinger90. John Burger91. Robert LiMandri92. Lockhart Steele93. Young Woo94. Janette Sadik-Khan95. Kirk Henckels96. Joel Seiden and Offer 97. YardeniMark Jaccom98. Paula Del Nunzio99. Veronica Hackett100.



THE POWER 100

64Peter Hauspurg and Daun Paris (65)Principals of Eastern Consolidated

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Long before Lehman Brothers collapsed and eco-nomic instability reigned, this handsome husband and beautiful wife were exploring ways to expand Eastern Consolidated’s loan sales platform. And while the en-deavor took longer than expected to get off the ground, the group is now among the city’s leaders with regard to navigating the era’s new value metrics. Meanwhile, Eastern continues to aggressively pursue debt procure-ments in all corners of the city—Brooklyn, Queens and the Bronx included—as well as to broker investment sales like mad.

65Peter Duncan (59)President-CEO of George Comfort & Sons

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Ask anybody in the real estate game, and they’ll tell you that George Comfort & Sons held a pretty low pro-file. That is, before July 2009, when the group snapped

up the last of No. 85 Harry Macklowe’s distressed com-mercial buildings, including the 1.8 million–square–foot Worldwide Plaza. At $590 million, the purchase was at the time the biggest to hit the city post-Lehman. And, just like that, the visionary Mr. Duncan had put the firm on the map. Two years later, he’s still making stra-tegic plays.

66Howard and Edward Milstein (38)Principals of Milstein Properties, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The completion of two Battery Park City condomin-ium towers a couple of years back marked a revival of sorts for Milstein Properties, which, due in part to a series of family legal disputes, had been largely inac-tive during the building boom that inspired so many of their competitors. But even as the third-generation sci-ons remain somewhat quiet, the company’s 20 million square feet, including 50,000 apartments and 8,000 ho-tel rooms, continue to line the brothers’ pockets.


66Howard Milstein

InvestIng In Our Infrastructure— Let’s Put PeOPLe Back tO WOrk

The only issue both parties agree on in 2011 is the need for jobs creation. We MUST take people out of unem-ployment and put them back to work.

The $780 billion stimulus package of 2009 is viewed at least partially as a failure by many because the money never reached its intended goal— much needed shovel ready projects. Funds instead were diverted and used to plug huge State deficits.

A second stimulus can succeed if it is administered in a way that will guarantee that it is channeled directly to infrastructure projects.

This is not wasteful spending, it is investing in our State’s and our nation’s future. This is rebuilding America.

WDF has always been uncompromising in the rigorous qualifications we require of our employees. Yet we have been finding highly skilled, experienced men and women among the unemployed and we are hiring them with out-standing results. The more infrastructure projects that are budgeted for, the more WDF will be hiring people.

There are those who remain skeptical.

Numbers don’t lie. The Queens Midtown Tunnel, which turned 70 last November, cost approximately $58M to build in 1940. In 2009, 27.7M vehicles paid an average of $5 each in tolls to cross (between the E-Z pass and regular rate). Do the math. The total is close to $140M IN JUST ONE YEAR in revenue: more than double the cost of building the tunnel – an impressive statistic even if the difference between 1940

and 2010 dollars is factored in. ThAT iS NOT SPENDiNG!

ThAT iS iNVESTiNG!

We need to restore our belief in people and trust that as-sets can and will increase in value. Spending creates no as-set value. Public projects are durable assets that produce lasting value.

Investing in our infrastructure will make America competi-tive once again with other parts of the world while creat-ing REAL JOBS with REAL BENEFITS for ALL AMERI-CANS.

Larry RomanChairman & CEOWDF Inc.

This is not a giveaway.

This is not throwing money out of a helicopter.

This is not giving people entitlements to sit unproductively at home.

This is putting people back into the workforce, and making them productive members of society.

The New STaNdard of CoNSTruCTioN

This is not a giveaway.

This is not throwing money out of a helicopter.

This is not giving people entitlements to sit unproductively at home.

This is putting people back into the workforce, and making them productive members of society.


Some show up just to rev their engine. We’re focused on pulling ahead as the �rst true alternative to real-estate-as-usual. We’ve put the pedal to the metal to help our clients race forward with investments in new markets, top talent, and a uni�ed global brand in more than 480 o�ces in 61 countries worldwide. We’ve got the inside track on service to accelerate your success.

Putting the pedal to the metal.

www.colliers.com

FASTERFORWARD

Colliers International congratulates all of this year’s POWER 100 honorees.


67Amanda Burden (34)Chair of the Planning Commission and di-rector of City Planning

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

While her power has waned since construction came to a near halt during the downturn, the socialite–turned–pub-lic servant still may be the most respected—some might say loathed—person in all of local real estate. With the power to bend developers to her wishes, Ms. Burden is responsible for many buildings on this list (Durst’s BIG Project, Extell’s River-side Center) looking as daring as they do.

68Aby Rosen (81) and Michael FuchsPrincipals of RFR Holding. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

He has been harassed by Orthodox Jews over his develop-ment interests in Israel, has sparred with Tom Wolfe in the pages of The Times and last year split with longtime-sometime business partner Ian Schrager. But Mr. Rosen (pictured) —the tragically hip, art-collecting owner, along with Mr. Fuchs, of such trophies as the Seagram Building and Lever House—manages to hang on. With the purchase of 530 Park last year, he and Mr. Fuchs hope to turn the rental building into high-end condos. The sun has yet to set for the city’s most flamboyant investor.

69Harry GrossChairman of Granite Broadway Develop-ment

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

After the Time Warner Center’s Mandarin Oriental, the soon-to-be Marriott Central Park has bragging rights as New York’s tallest hotel. “But since that’s a big ol’ mixed-use proj-ect, with apartments, offices and even a mall,” wrote our own Matt Chaban of the Mandarin back in January, “that doesn’t count.” The hotelier behind the 716-foot-tall hotel on 54th Street is Mr. Gross, a guy who registers almost no Google or Nexis hits, rendering him all but invisible. But we do expect his Web traffic to spike.

70Chris Ward (20)Executive director of the Port Authority of New York and New Jersey

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With the portentous 10th anniversa-ry of 9/11 fast approaching, credit goes almost entirely to one of the smartest bureaucrats in the city (sorry, Larry!). Mr. Ward set new schedules for com-pleting the memorial plaza in time for the hallowed day, and the four office buildings on the site are progressing in their own fitful ways. This would be job enough, but Mr. Ward is also un-dertaking modernization efforts at the region’s airports, container terminals, bus depots and bridges.

71Arnold, Kenneth, Steven and Winston Fish-er (75)Principals of Fisher Brothers

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If ever a real estate company could be counted as members of the mile-high club, the Fishers (Winston pictured) would be the group’s Class A ambassa-dors. With skyscrapers like 605 Third, 299 Park and 1345 A of A all boasting upward of 1 million square feet each, the 96-year-old company has a thing for heights. But with the sale last year of its minority stake in 229 Park, a.k.a. Park Avenue Plaza, the group sent a sig-nal that size doesn’t always matter.

72Jeff Citrin and Craig SolomonPrincipals of Square Mile Capital. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

After beating up Kent Swig and taking a bunch of his stuff in 2008, Square Mile Capital, the lender that was launched only two years earlier, gained some power. But not without earn-ing a bittersweet rep as the company above all others willing to show fangs to delinquent borrowers. Since teaming with Taconic Investment Partners in the ill-fated purchase of 29 of the 32 commercial condo units at the universally loathed Veri-zon building, Messrs. Solomon and Citrin have shuffled their feet to sandboxes outside of New York.

73James Cooper (79)Rector of Trinity Church

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Along with Trinity Real Estate pres-ident Jason Pizer, Mr. Cooper has con-tinued to reposition the Episcopal church’s 6 million square feet in Hud-

son Square into appealing office space for creative tenants. As recently as 10 years ago, the vacancy rate for the area might have hovered around 20 percent. But with the likes of New York magazine, Penguin Putnam, Getty Images and WNYC there, Mr. Cooper’s property tabernacle now appears especial-ly secure.

THE POWER 100


67Amanda Burden


74Danny Meyer CEO of Union Square Hos-pitality Group

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mr. Meyer might be the most influential restaurateur in the city—and not because of the food he cooks, phenomenal as it may be. It is the way that everywhere he goes, he trans-forms neighborhoods. Union Square in the ’90s, Madison Square in the ’00s; and now he has set his sights all over town and beyond, as his Shake Shack empire expands into Con-necticut, Battery Park City and Brooklyn’s Ful-ton Mall. He just opened Untitled inside the Whitney, bringing barnyard hominess to the starched hood.

75Timothy Dolan (76)Roman Catholic Archbishop of New York

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Columbia and N.Y.U., as this newspaper noted earlier this year, may be gaining on the Catholic Church as New York’s biggest private landlord, but Archbishop Dolan still oversees as sole proprietor vast and valuable proper-ties in Manhattan, the Bronx and Staten Is-land. St. Patrick’s Cathedral alone has more than $191 million in assets, not to mention a prime Fifth Avenue location (God forgive us for being so cynical).

76Ruby SchronLandlord

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The mysterious Mr. Schron is one of the city’s largest individual landlords—estimates peg his holdings at 15 million square feet, in-cluding tens of thousands of outer-borough apartments and stakes in such commercial properties as the Woolworth Building. He plays his work close to his chest, relying, it

is said, on his several sons (there’s eight kids and at least 50 grandkids in total) and quiet-ly investing in things beyond real estate, like banks and nursing-home chains.

77Elizabeth Stribling and Kirk Henckels (96)President of Stribling & As-

sociates and director of Stribling Private Brokerage, respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

As if having charm-ingly stepped from some casting call for highbrow real estate brokers, the elegant Ms. Stribling (her real estate chops go back to 1967!) and the stately Mr. Henckels (bow ties and all!) em-body in appearance and deed the luxu-ry end of Manhattan

housing. A cursory scan of Mr. Henckels’ lat-est listings, for instance, shows a $27.5 million ask at 810 Fifth and an “Estate in Umbria” for $17,418,440.

78Diane Ramirez (80)President of Halstead Property

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Ms. Ramirez co-founded Halstead in 1984; she inked her last multimillion-dol-lar real estate deal as a broker for none oth-er than Calvin Klein, three years later; now the firm’s president, she spends much of her time reshaping

the firm in her own classy image. Last year, she personally appealed to then free agent LeBron James to sign with the Knicks and move to New York while also working behind the scenes to sell Senator Kirsten Gillibrand’s Hudson Valley home.

79Robert TierneyChairman of the Land-marks Preservation Com-

mission. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Since taking over the Land-marks Preserva-tion Commission eight years ago, Mr. Tierney has overseen one of the largest expan-sions of protec-tions for the city’s historic fabric, with a particular focus on the out-er boroughs. Per-haps he has been too successful, as a massive district along West End Avenue—among others—is taking fire from Big Real Estate for stifling develop-ment. Recessionary knee-jerk or a coming backlash?

80Arthur and William Lie Zeckendorf (45)Principals of Terra Hold-

ings and Zeckendorf Realty. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Under the brothers’ leadership (Arthur pictured), the family’s real estate legacy has since expanded to in-clude the ownership stakes in brokerages like Brown Harris Ste-vens and Halstead. Meanwhile, they have scooped up some of

the city’s most regal real estate, and maybe the world’s. Indeed, 515 Park has hosted pro-ducer L.A. Reid, and 15 Central Park lays claim to former Citigroup chair Sandy Weill, Gold-man Sachs chief executive Lloyd Blankfein and Denzel Washington.

81Raphael De NiroManaging director at Pru-dential Douglas Elliman

. . . . . . . . . . . . . . . . . . .

. . . . . . . . . . . . . . . . . . .

A raging bull with the intense quietude of his father, Rapha-el De Niro has gone from famous kid to famous broker in just a few short years. This year, he led the top-selling team at Douglas El-liman, after a sixth-place showing the

year before. His client list reads like an invite to a party at his Soho loft: Naomi Campbell, Mark Ronson, Pink and Mickey Rourke.

82Matthew Wambua and Marc JahrCommissioner of the De-

partment of Housing Preservation and Development, and president of New York City’s Housing Development Corpo-ration, respectively. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In March, Mayor Bloomberg took a vaca-tion from appointing outsiders by naming Mr. Wambua as the city’s latest housing commis-sioner. As a senior policy adviser back in 2002, he led bids for affordable housing in upper Manhattan and the South Bronx. Along with Mr. Jahr, the entrenched pair of do-gooders likely ruffle some feathers within the indus-try. So be it.’

-83Hall Willkie and Paula Del Nunzio (99)President and senior vice

president, respectively, of Brown Harris Stevens. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With the market, and particularly the market for town-houses, heating up again, the doyenne of uptown living is the broker to beat. Ms. Del Nunzio (pictured) still holds the all-time single residential re-cord for the $53 mil-

lion Harkness Mansion, and she had the biggest sale last year when the Duke-Semans manse went from Tamir Sapir to Carlos Slim for $44 million. Meanwhile, the redoubtable Mr. Willkie manages the many personalities under the BHS umbrella, including 350-plus brokers doing $3.4 billion in sales annually.

84Norman Sturner and Neil SiderowPresident and chairman,

respectively, of Murray Hill Properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

In the early ’00s, Murray Hill really blasted off by origi-nating a handful of high-net-worth funds. Since then, Messrs. Sturner (pic-tured) and Siderow, the firm’s founders, have raised more than $300 million in individual funds and, subsequently,

escalated their little something into a major player. In the meantime, they did yeoman’s work last year to keep Pepsi from moving its bottling division in Westchester to Connecti-cut. The intense negotiations over three years netted the largest transaction in the county’s history.

85Harry MackloweFounder and chairman emeritus of Macklowe

Properties. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F. Scott Fitzger-ald’s immortal words, “There are no sec-ond acts in American lives,” couldn’t have anticipated Mr. Mack-lowe. After a buying binge that would have made some of Fitzger-ald’s protagonists en-vious, the develop-er saw his fortunes crumble in dramatic fashion. But as recent-

ly as last month, cranes appeared at the rubble-strewn site of the former Drake Hotel—an asset he won, then lost, and, in a joint venture with CIM, seems to have wrestled back into his fold.

THE POWER 100


74Danny Meyer


We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status or national origin.

Senior Vice President, Managing Director

Licensed Associate Real Estate Broker

212-906-9207

[email protected]

445 Park Avenue

New York, NY 10022

Of the eight largest residential townhouse sales, Paula had represented the seller of seven, the seller and buyer of one, and sold one twice.

Highest townhouse sale ever. Highest townhouse sale for

2006 and highest residential sale ever for any property type.

The Harkness Mansion. At approx 22,000SF and featuring

grand 14’ ceilings as well as elegant, expansive living spaces,

this residence has retained all of the grandeur and breadth

that originally drew so many notable names throughout the

years. Spanning 50’ in width, this property presented the ideal

opportunity to create an unparalleled private residence in NY.

Highest townhouse sale for 2008 and highest residential sale

in 2008 for any property type.

The Milbank Mansion. Created by Jeremiah Milbank who

combined 14 and 16 East 67th Street in 1919, this 48 foot-

wide 21,000 square foot residence features a 30 foot swimming

pool in a double-height space, numerous outdoor spaces, a

suite of staff quarters on top, and superb entertaining spaces.

Highest townhouse sale for 2010 and highest residential sale

in 2010 for any property type. Resold for 10% more than

owner paid in 2006.

The Duke-Semans Mansion. An incomparable corner location

on Fifth and 82nd Street, with 103 feet of frontage on the

side entry and 27 feet in width, the extraordinary living and

entertaining spaces of landmarked Duke-Semans Manison.

Recognized as one of the top-producing brokers in New York City, Paula Del Nunzio has specialized in townhouses, penthouses and townhouse equivalent spaces for more than 20 years.


86Burton and Jonathan ResnickChairman-CEO and presi-

dent, respectively, of Jack Resnick & Sons. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Less than two years ago, Burton and Jona-than—the latter, the last of three sons to re-main at Resnick & Sons—spearheaded the acquisition of 250 Hudson Street, a former printing building that they converted into of-fice space for the wave of creative types mov-ing to the area. The deal was a good invest-ment for the family firm, which opened in 1928. But they’ve been relatively quiet, and, thus, there’s no way to tell what’s next for one of New York’s more dependable real estate names.

87Bruce Mosler and Arthur MiranteFormer CEOs of Cushman

& Wakefield. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

When Mr. Mos-ler (pictured) stepped down as chief executive of Cushman & Wake-field last year, it wasn’t entirely clear what his plans were, other than returning to broker-age. And so when it was announced this Janu-ary that he would be teaming with another former Cushman chief executive, Mr. Miran-

te, to form a new brokerage services group, the news was akin to Bob Dylan, Tom Petty, George Harrison and Roy Orbison coming to-gether as the Traveling Wilburys. The pair has been rocking big leases ever since.

88Jonathan Mechanic and Stephen Lefkowitz (68)Chairman of the real es-

tate department and partner, respective-ly, at Fried Frank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Throw a rock during the Real Estate Board of New York’s annual gala and you’re sure to hit one of the pictured Mr. Mechanic’s current or former clients. Hope it’s the latter because, while charming and personable, he and Mr. Lefkowitz won’t hesi-tate to chew you up on

behalf of said clients, who include[d] Donald Trump (No. 14), Jerry Speyer (No. 15), Mi-chael Bloomberg (No. 7), Steven Roth (No. 4), Stephen Ross (No. 10), Bruce Ratner (No. 48), Douglas Durst (No. 1), Mort Zuckerman (No. 5) and Sheldon Solow, to name a small fraction.

89Mark Jaccom (98)CEO of New York tristate for Colliers International

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

He’s among the most outspoken real es-tate leaders locally—but God love him. Since the merger with FirstService last year, Mr. Jaccom has led all New York firms in a hir-ing splurge so big that if it had happened in a

small town the finan-cial push would have single-handedly re-vived the community’s economy. And while Mr. Jaccom tends to speak in superlatives, the heft of his rhetoric has yet to overshadow the recent activity of his brokers.

90Jeff WinickFounder and CEO of Win-ick Realty Group

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With Duane Reade hell-bent on opening a new store on every corner of the city, its bro-kerage of choice, Winick Realty Group, could have chosen to hit the snooze button a thou-sand times and still wake up in a pile of cash. But never one to rest on laurels, Mr. Winick has aggressively expanded the firm’s leasing capabilities to include retailers both big and small.

91Ralph Herzka (87)President and CEO of Merid-ian Capital Group

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Capitalizing on the economic recovery is something of a spe-cialty for the boys and girls over at Meridian Capital Group. Just visit its busy com-munications depart-ment, which tireless-ly churns out news of new financial deals several times a week. Here’s an absolute

fact: From the Upper East Side to Lower Man-hattan, Mr. Herzka’s powerful financing mus-cle flexes for miles.

92Joseph Strasburg (84)President of the Rent Sta-bilization Association

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Forget about the gun, cigarette and alco-hol lobbies. It’s Mr. Strasburg and his confus-ingly named Rent Stabilization Association that should draw your attention—and some-times does, like when the RSA president in March warned landlord advocates that Gov-ernor Cuomo (No. 2) “will crush you like his father did.” (The governor didn’t care for that: “I can’t believe they mentioned my fam-ily,” he thundered privately.) With legislation coursing through Albany that would extend rent regs set to expire in June, Mr. Strasburg remains a key player in an only–in–New York fight.

93Mike Fishman (77)President of SEIU 32BJ.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mr. Fishman’s on a roll. In the fall of 2009, he backed the successful candidates for mayor, public advocate and city comptrol-ler; and a year later he was at No. 2 Andrew Cuomo’s back (as well as the winning AG and state comptroller candidates’), securing more powerful ears for his powerful union. He is perhaps the first labor leader in the Rolodexes of every big landlord on this list.

94Charles CohenCEO of Cohen Brothers Realty

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

If he wasn’t so damn talented, Mr. Cohen might be perceived as an egomaniacal real es-tate tycoon of the worst kind: prone to silly whims and, even worse, terrible investments. But when his interest in design inspired him to develop hubs across the country for design-ers, it worked. And,

more recently, when he followed his muse to Hollywood, the movie he produced earned Os-car nominations. While still a full-time real es-tate pro, he’s now juggling multiple film proj-ects. Good show!

95Earle AltmanChairman of ABS Partners Real Estate

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With eyes on Chinatown, Tribeca and, re-ally, most of New York, Mr. Altman and ABS Partners Real Estate has been on a leasing binge. Besides a recent push to sell or net-lease 250 Canal, the group worked behind the scenes to revamp 185 Franklin, a small office building that under ABS leased three big spac-es just last month.

96Robert Ivanhoe (72)Chairman of the New York office of Greenberg

Traurig. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

With astonishing regularity—for a lawyer, at least—Mr. Ivanhoe has played a huge role in shaping the city’s skyline. As No. 31 Larry Sil-verstein’s lawyer, he helped erect the luxury Silver Towers on West 42nd Street and over-saw the purchase of the Plaza Hotel for El-Ad Properties. More than perhaps anyone else in this city with a JD, Mr. Ivanhoe has acted as an unofficial urban developer for years.

97Serena BoardmanSenior vice president at Sotheby’s

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Is Ms. Boardman the biggest residential broker in the city? Nobody knows because she is certainly its most discreet, but that is where The Wall Street Journal pegged her a few years ago. The socialite-turned-broker has handled some hefty listings, including many of brother-in-law Aby Rosen’s mansions and the infamous Madoff home. Other boldface clients include Eli Broad, Jimmy Fallon and a handful of Rockefellers.

98Lockhart Steele (93)Founder and publisher of the Curbed Network

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Not only does Mr. Steele have the list’s best name, but his is the first name in street-smart blogging. There is the ever-so-snarky Curbed—which has launched editions in Chicago, Washington, Miami, Se-attle and a glossy na-tional site—as well as the premier restaurant and retail blogs in these cit-ies. He has helped define the look, feel and sound of a million hyper-local blogs chronicling the mi-nutiae of the city. And just look at his shirts.

.

99Jonathan MillerCEO and president of Mill-er Samuel

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Mr. Miller authors perhaps the most close-ly watched housing re-ports in the U.S. (sorry, Dr. Shiller): the Douglas Elliman quarterly snap-shots. Long decisive for Manhattan condos and co-ops, they now include surrounding areas and the rental markets. Plus, Mr. Miller remains re-freshingly free of spin. In January, he said of Man-

hattan housing: “Best case, we move sideways, but I’m more inclined to think we’re seeing a price or sales erosion in 2011.” Which is exactly what the stats have been showing.

100Steve Cuozzo Real estate colum-nist and an editor for

the New York Post . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Last November, Mr. Cuozzo bellowed from the tab’s pages that “the culture of self-con-gratulation in the retail-leasing industry is so entrenched, it’s almost impossible to get an acknowledgement of how dysfunctional our retail climate can seem to even casual ob-servers.” It was trademark Steve—equal parts Andy Rooney and Howard Beale—making him not only a scoop machine, but the seminal bullshit detector in the industry.

THE POWER 100


97Serena

Boardman

Photos by Getty Images, Patrick McMullan, Joe Fornabaio, Daniel M. Weiss, Shravan Vidyarthi, Brian Letwin, Kurt Raschke, James Ham-ilton.


www.durst.org


HERON TOWER ONE WORLD TRADE

commercial observer power 100 section 2011

Documents