- Condolences to Peter Kalikow and family
on the death of his mother, Juliet Kalikow
Levene. Contributions in her memory may
be made to the Juiet Kalikow Levene memorial
fund, New York Presbyterian Hospital.
Douglas Durst won't be among the bidders
for the Weiler/Arnow/Milstein site on the
southeast corner of 42nd and Eighth.
packages went out to 11 bidders, 9 from
the 70 percent owners on the Weiler/Arnow/Seymour
and Philip Milstein side, and 2 from the
30 percent Paul and son, Howard, Milstein
in waiting Cisco Systems is among those
that asked for the packages which are available
from the referee, Judah Gribetz at Richards
& O'Neil, on recommendation from one
of the two sides, each of which can choose
will have to make a minimum bid of 100 million,
put up a $1 million deposit by noon on Tuesday,
January 16. Bids will be opened at 3 p.m..
48 hours later, the winning bidder will
have to fork over $4 million more. Closing
takes place 90 days from January 16.
Want to be whisked around town for at least
four hours in either a Mercedes or Hummer
limo? Simply design a face for MrOfficeSpace
that can become part of the logo for the
commercial office space search site.
an entry form, e-mail info@MrOfficeSpace.com
or call (212) 868 1900 x 228 and leave your
address for a snail mailed copy. Some entrants
have already protested the sexist site name
and designed MsOfficeSpace logos instead.
So far, those entries have not been round
filed, but we may have to ask for a recount
Zar Realty will be turning over the leasing
of 90 Washington to a major brokerage in the
next 30 days. Zar owns the ground lease on
the 350,000 square-foot building formerly
occupied by the Bank of New York. "I think
90 Washington will be a wonderful location
and facility for some company," said Zar's
Mark Stein. Once its rented, Stein says they
will also let another firm redevelop and manage
the property, and simply cash the checks.
Since it acquired the lease in December 1998,
Zar has considered a hotel conversion as well
as the sale of its lease.
Port Authority is culling bids. Charles
Bagli reported in The New York Times
that Silverstein Properties, Vornado, Boston
Properties and Brookfield Properties are
left standing. "Who in their right
mind would bid for the World Trade Center?,"
quipped Larry Silverstein with a sly grin
to his NYU Real Estate Institute Class,
the day that appeared.
- Silverstein has teamed up with GMAC as
- Don't count Brookfield out in this.
John Zucotti is pitching his best shots,
having also worked with the Port Authority
on the Olympia & York development across
the West Side Highway and onward to his
present post at its successor, Brookfield.
week's New York Observer article
by Andrew Rice says the company has two
financial partners and is ready to refinance
or sell ownership positions to raise money
for the Twin Tower takeover.
list includes Equity Office and Vornado
but most money is on Boston Properties walking
away with Rockefeller Center. And now they're
getting the money. On October 26 the company
announced it sold 15 million shares of stock
for a $556 million net through Goldman Sachs
and Morgan Stanley Dean Witter. The proceeds
will be used to fund a portion of "development
pipeline" i.e. Times Square Tower if
need be, and "to fund other land and
Cisco has been courting Lawrence Ruben Co.
and Vornado for around 300,000 square feet
at 20 Times Square, the 1.3 million "dancing"
square feet on the top of the Port Authority
Bus Terminal being pitched by Cushman &
is also bidding on the Milstein/Arnow/Weiler
parking lot at 42nd and Eighth Avenue.
Cisco kids also have Manny Stern to wave
at EDC and Empire State Development where
they can afford to take 500,000 sf at 77
Hudson Street in Jersey. Ira Schuman of
Studley is getting familiar with the PATH
trains as they go back and forth.
Schuman's wife, Amy Paulin, was a schu-in
for the New York State legislative seat
being vacated by Audrey Hochberg. Congratulations!
Trevor Davis, Aby Rosen and Michael Fuchs
are planning a Rosewood hotel on their site
at East 56 Street. The empty land is next
to Heron Tower and was once going to be
developed by Howard Ronson. It went to the
Bernstein Bros., the Homestead Village before
the RFR/Davis group picked it up last year
with plans to make it an Envoy Club extended
brand. Rosewood is very luxurious and just
started a long and short term apartment
program in Saudi Arabia in a gorgeous cone
tower owned by the King Faisel Foundation.
They also have a hotel, banquet facilities,
and health club on the lower floors and
a restaurant at the top of the 875-foot
office building. It is close to being financed.
CBS/Viacom wants to get rid of Black Rock
through a 1031 exchange to beat the tax
person. The seven lenders led by Equitable
are dismissing the idea of giving up the
much larger 1515 Broadway where Viacom has
its headquarters, but the tax swap search
continues and may include several other
buildings. If they can't complete their
scheme soon, watch for the building to become
a straight sale through Insignia/ESG.
Which developer through a snit fit because
his deal partner got his picture in the
paper and he didn't? His head shot is now
on the editor's desk.
Move over Donald J. Trump. Another developer
is talking with Columbia University about
a new building. Trump would like to cut
a deal with Columbia to create a mini-campus
on his commercial site at Trump Place, and
build three residence halls on what would
otherwise become apartment buildings. But
a nearby owner has other plans in mind.
Columbia is all ears.
Condolences to Newmark's Jimmy Kuhn whose
wonderful mom, "Sunnie," passed
away in late October.
Steven Spinola, president of REBNY, warned
YMWREA's luncheon not to count out the unified
bulk zoning proposal. It's off the table
now, he said, but Planning Commissioner
Joe Rose can recertify it yet again. Among
its 532 pages, Spinola advised it could
limit heights in Harlem so that new residential
towers wouldn't have views of Central Park.
It's time to give out the first fire safety
notices to residential tenants for the inside
of their apartment doors and post the warnings
in the common areas. You can also mail the
notices in January with the annual window
guard notices. But beware, test "stuffings"
have found the envelopes to be way too thick.
A proposed law would restrict parades. Most
ominous, if you've never had a parade on
Fifth Avenue, you can never get a permit
to hold one on the avenue.
2000 Lois Weiss