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Rebny Awards 2010

Rebny Awards 2010

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Published by Anna C. Lindow

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Published by: Anna C. Lindow on Jan 28, 2010
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power brokerSig’s Tdd knon Dntn
DaTa Galore!T Finncing,rf Ds  4QleaSe beaT40 wst 53d Stt
512 bdy 
Jny 19, 2010
The Weekly NeWspaper of NeW york’s CommerCial real esTaTe iNdusTry
$5.00
My ann Tig bcmsFist wmn t Ci rebNY—N, t bsinss!
bY JoThaM SeDerSTroM
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observer.com
|
the commercial observer 
24
 January 19, 2010
the commercial observer 
|
observer.com
 January 19, 2010
25
T
heRealEstateBoardoNewYorkonJan.21planstohonorseveralcommercialrealestateproessionalsatits114than-nualbanquet.Fourothehon-oreesareeaturedbelow,andcheckoutonpage30ourPow-erBrokerproleoToddKorrenoSwigEquities,winnerothe2010YoungRealEstateManotheYearAward.

SamuelH.LindenbaumCounsel,KramerLevinNaftalis&FrankelLLP
WinnerotheHarryB.HelmsleyDis-tinguishedNewYorkerAward,whichmemorializesHelmsley,hisgeneration’smostadmiredrealestateexecutive.
SandyLindenbaumisocounseltoKramerLevinNatalis&Frankelandamemberoitsland-usedepartment.Formorethan40years,Mr.Linden-baum’sextensiveexperienceinlanduseandzoninghasbeenputtoworkinhan-dlingspecialpermits,zoningchanges,variances,landmarkproceedings,airrightstransers,taxabatementsandeco-nomicdevelopmentincentivesormanyothecity’smostprominentcommercialandresidentialdevelopmentsandortheexpansionprogramsomanyothecity’sleadingnonprotinstitutions.HisaliationsincludetheRealEs-tateBoardoNewYork,vicepresidentandmemberotheexecutivecommit-teeotheBoardoGovernors;Met-ropolitanMuseumoArt,honorarytrustee;AmericanFriendsotheIsra-elMuseum,honorarychairmanotheexecutivecommitteeotheBoardo Directors;PeggyGuggenheimCollec-tioninVenice,memberotheadviso-ryboard;GuildHalloEastHampton,memberotheBoardoTrustees;Cen-tralSynagogue,memberotheBoardo Trustees;JewishAssociationorSer-vicesortheAged,chairotheexecu-tivecommittee;AssociationoraBet-terNewYork,ounder,directorandvicepresident;UJAFederationoNewYork,memberotheboardotherealestatecommittee;RealEstateInstituteoBa-ruchCollege,memberotheBoardo Trustees;NewYorkStateCouncilontheArts,member,1976-1986,1994-1999.Mr.LindenbaumearnedaB.A.cumlauderomHarvardCollegein1956andaJ.D.cumlaudein1959romHarvardLawSchool.Atergraduatingromlawschool,hewasawardedaFulbrightFellowship.HemarriedLindaM.Lewisin1957.Theyhavetwomarrieddaughters,Er-icaTishmanandLaurieLindenbaum,andsixgrandchildren.

DavidR.GreenbaumPresident,VornadoRealtyTrust,NewYorkdivision
WinnerotheBernardH.MendikLie-timeLeadershipinRealEstateAward,whichisnamedorBernardH.Mendik, REBNY’schairpersonrom1992untilhisdeath,in2001.
DavidR.Greenbaumispresidento VornadoOce,theNewYorkocedi-visionoVornadoRealtyTrust,whichownsacommercialrealestateportolioinNewYorkCitythatencompasses52buildingstotaling22millionsquareeet.Mr.Greenbaumoverseesallaspectso theNewYorkCityportolio,includingground-updevelopment,redevelop-ment,leasingandbuildingoperations.Hestartedhiscareerasataxattor-neyatWeilGotshal&Manges,andthen joinedtheMendikCompany,aprivateownerocommercialrealestate,whichmergedintoVornadoRealtyTrustin1997.Mr.Greenbaumisatrusteeandmem-berotheexecutivecommitteeotheCitizensBudgetCommission,aprivatewatchdogorganizationthatmonitorsthecity’sandstate’sscalpolicies;amemberotheexecutivecommitteeotheBoardoGovernorsotheRealEstateBoardo NewYork;amemberotheRealtyAdvi-soryBoard;andamemberotheBoardo Directorsorthe34thStreetPartnership,theGrandCentralPartnershipandtheTimesSquareAlliance,allpublic-privateefortstoenhancemidtown.HeisalsoamemberotheNewYorkUniversityRealEstateInstitute’sadvisoryboardandtheexecutiveroundtablecommitteeo theadvisoryboard.Mr.GreenbaumalsoservesontheboardsotheJewishNa-tionalFundasapresidentialadviser,theJewishGuildortheBlindandtheJe-eryModellFoundation.HewasselectedbytheNewYorkCityPartnershiptopar-ticipateintheDavidRockeellerFellowsProgram.

RobertA.KnakalChairman,FoundingPartner,MasseyKnakalRealtyServices
WinnerotheLouisSmadbeckBro-kerRecognitionAward,whichhonorsthememoryooneotheproession’smostesteemedpractitioners.
RobertKnakalgraduatedromtheWhartonSchooloBusinessattheUni-versityoPennsylvaniawithabach-elor’soscienceineconomicsin1984.HemajoredinrealestatenanceandentrepreneurialmanagementandwasamemberotheWhartonSchool’sRealEstateClub.In1981,Mr.KnakalwashiredbyColdwellBankerCommercial,nowCBRichardEllis,asamarketresearchin-tern.Hereturnedtheollowingsum-merasco-leaderoitssummermarketresearchgroupand,in1983,obtainedhisrealestatesaleslicense.HeworkedthatsummeratColdwellBankerasanassistanttoaseniorbroker.Atergrad-uation,hestartedasaull-timeinvest-mentpropertyspecialistwithCB’smid-townoce.In1984,Mr.KnakalcollaboratedwithPaulMasseyJr.toestablishapropertysalesgroupinManhattan.Theyservedasco-directorsorthenewspecializa-tion,and,in1986,sharedCB’spresti-gioustopsalesmanawardinNewYork.(Atthattime,CBemployedanaverageo60peopleinitsManhattanoce.)Messrs.KnakalandMasseyretainedthistoprankinguntiltheylettherminNovember1988tostarttheirownbusiness,MasseyKnakalRealtyServic-es.Todate,Mr.Knakalhasbeenrespon-sibleorthesaleomorethan1,050propertiesworthover$5.8billion.Mr.Knakalwasin1993electedpresi-dentotheNationalRealtyConerence,whichmadehimtheyoungestpresidentintheorganization’s58-yearhistory.HeisalsoaveryinvolvedmemberoREB-NY.Hehasservedonnumerouscom-mittees,includingtheethicscommitteeandthearbitrationcommittee,andhasbeenchairmanoitssalesbrokerscom-mittee.HewasalsoontheCommer-cialDivision’sBoardoDirectors,andwaselectedtotheBoardoGovernors.In2003,Mr.KnakalwasappointedtoREBNY’sexecutivecommittee.Mr.Knakalwon,alongwithbrokerMarkMassey,theprestigiousRobertT.LawrenceAwardintheREBNYMostIngeniousDealotheYearcontestortheirnine-yearassemblageotheeast-erlyblockrontoSecondAvenuebe-tween54thand55thstreets.In2005,Mr.Knakalledthemarket-ingteamorthe$138.5millionsaleo theVanderveerEstatesinBrooklyn,thelargestprivatelyownedapartmentcomplexintheborough.Theproper-tyconsistedo2,500apartmentsin59elevatorbuildings.Thesalepricewas$138,500,000.In2006,Mr.Knakalledthemarketingteamintheassem-blageotheentirewesternblockrontonSixthAvenuebetween30thand31ststreets.ThismarkedMasseyKnakal’slargestdevelopmenttransactiontodate,atapriceo$117,500,000.

RalphJ.DiRuggieroVicePresident,PropertyManage-ment,ParamountGroup,
WinnerotheGeorgeM.Brooke ManagementExecutiveotheYea Award,whichhonorsthememoryothelateMr.Brooker,thefrstvicepresident orREBNY’sManagementDivisionandoneotheproession’smostrespectedmembers.
RalphDiRuggieroholdsabachelor’soscienceromtheUniversityoScran-tonandamaster’sopublicadministra-tionromBaruchCollege.Healsoattend-edHarvard’sJohnF.KennedySchoolo Governmentprogramorseniorexecu-tivesinstateandlocalgovernment.Mr.DiRuggierobeganhiscareerasabudgetanalystatthecity’sOceoMan-agementandBudget.HethenworkedastheassistantbudgetdirectororEs-sexCounty,N.J.,eventuallyrisingtobe-cometheassistantcountyadministratororNewJersey’slargesturbancounty.In1987,hejoinedWilliamsRealEstateCompanyasadistrictmanagerrespon-sibleoramidtownportoliooocebuildings,andshortlythereaterwaspromotedtoassistantvicepresident.Mr.DiRuggierothenjoinedSwigWeil-er&ArnowManagementCompanyasitsvicepresidentooperationsrespon-sibleor6millionsquareeetoClassAocesinManhattan.In1989,hejoinedEquitableRealEstateInvestmentMan-agementasassetmanager,and,orthenext10years,wasresponsibleorestab-lishingtheNewYorkregionaloceo CompassManagement&Leasing,asub-sidiaryoEquitable.In1994,hewaspro-motedtoseniorvicepresident,respon-sibleorCompass’nationalcorporateaccounts,includingAT&T,LucentTech-nologies,AMPInc.andGeneralMotors.Mr.DiRuggierocompletedassignmentsinMexicoCityandintheNetherlandsorLucent,andwasamemberoCom-pass’managementcommittee.AsthermmergedwithJonesLangLaSalle,Mr.DiRuggierowaspromotedtoexecu-tivevicepresidentwithresponsibilitiesorcorporateclients.In1999,Mr.DiRuggierojoinedtheTrammellCrowCompanyasseniorvicepresidentopropertymanagementandasitsregionaldirectorortheNortheast,responsibleorclientsincludingHSBCBankandAmericanExpress.Mr.DiRug-gierojoinedParamountGroupin2001asvicepresidentopropertymanagement,andisresponsibleorallaspectsoprop-ertymanagementoperationsandsecu-rityorthecurrentportolioo12millionsquareeet,inNewYork,WashingtonandSanFrancisco.Mr.DiRuggieroes-tablishedParamount’sSanFranciscopresenceandisresponsibleorleasinginthatmarket.
Lindenbaum, Greenbaum, Knakal, DiRuggiero and Korren snag top honors
The 2010 Real EstateBoard of New York Honorees
FEIL
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




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Partners to the Real Estate Industry and Architects for 56 Years
OP-ED
 
observer.com
|
the commercial observer 
26
 January 19, 2010
I
was sincerely humbled to learnthat I was going to be this year’srecipient o the Real EstateBoard o New York’s Louis Smad-beck Broker Recognition Award.I’m extraordinarily appreciativeto REBNY, Steve Spinola, Bill Mon-tana and the commercial board o directors or this honor—and toeveryone who has, even tangen-tially, been a part o this wonder-ul ride.Probably the nicest thing aboutbeing notied that I would receivethis award is that it made me takea step back and consider the wholehistory o my career. Andwhen I did that, I imme-diately started thinkingo all the people who’vehelped me along the way,without whom I wouldnever have been consid-ered or this recognition.My rst serious expo-sure to the real estate in-dustry took place by acci-dent, during spring breako my reshman year atthe Wharton School, in1981, when I, along with just about every oth-er Wharton kid, wanted to be thenext hot shot to take over WallStreet. I wanted a summer job thatwould look good on my résumé, soI applied at every commercial bankand investment bank I saw in Ber-gen County (which is where I grewup). I walked out o a Paine Web-ber oce in Continental Plaza and,across the hall, I saw “ColdwellBanker.” I thought it was anotherbank, so I dropped my résumé o there, too.Just a ew hours later, I receiveda phone call asking me to come inor an interview the next day. Therewas no Web in 1981, so I went to thelibrary prior to the interview to dosome research on this bank so thatI’d be prepared. When I discoveredthat Coldwell Banker was a real es-tate company, I almost didn’t goto the interview. But I went, and itwas the only company to oer mesummer employment, so I took the job somewhat reluctantly.From my rst day there, I lovedit. It was an energetic environmentwith hardworking people makinga lot o money and having a lot o un. The result was three collegesummers working at CB. It wasthere that I developed riendshipswith two senior brokers who werewilling to beriend a young, wide-eyed kid. Jack Fatigati was alwayswilling to answer any o the hun-dreds o questions I had, and TomMallaney taught me that, despitethe commonly accepted rule, niceguys can nish rst. I’m ortunateto count Jack and Tom among mygood riends to this day, nearly 30years later.
A
ter graduating rom Whar-ton, I decided to take a ull-time position with CB in theirManhattan oce. On my rst dayon the job, I met this other youngguy named Paul Massey. He hadworked or CB in thesame summer program,in Boston, and he’d alsodecided to give the build-ing sales business a go inthe Big Apple. CB hadabout 50 oce leasingbrokers in New York atthe time, and our build-ing sales brokers, includ-ing Paul. The three othersales brokers each hadabout 20 years o expe-rience and wanted noth-ing to do with the youngkids—so, on my secondday on the job, Paul and I ormeda partnership that has lasted or26 years and counting. Thousandso days and tens o thousands o conversations later, I can say thatI have been so lucky to have a greatbusiness partner who has drivenme to do better than my best everyday. Thank you, Paul.The CB years were so much un.There was a group o us who allstarted together and went throughthe “start-up phase” o what was avery challenging but exciting busi-ness. Johnny Maher, Kevin Danehy,Paul Myers, Bob Stella, Bob Law,Kim Mogul, Jackie Manseld andmany others were all there withPaul and me, and we all ought tomake our mark on the industry.Dinners oten consisted o one pur-chased beer and the systematic dis-mantling o the ree hors d’oeuvresbar at the Charley O’s in the groundfoor o 437 Madison Avenue.Paul and I closed our rsttransaction in March o 1985, a20,000-square-oot commercialbuilding located at 1421 Third Av-enue that almost burned down thenight beore the closing. But thebuilding survived; the sale closed;and when we got back to the oce,our mentor, Gerry Bridges, washappy to take “the rookies” to agrand dinner at Smith & Wollensky.Gerry was a 50-year veteran o CBwho could not have been nicer tous. Unortunately, he passed awaylast year, but Paul and I will alwaysremember his kindness to us in ourormative years. In two weeks, ourrm will present the 21st annualGerald W. Bridges Salesman o theYear Award to our top agent.In the early days o prospecting,I was ortunate to stumble uponLouis Brause, who owned two prop-erties in the territory I was cover-ing. In my rst cold call to him, I ex-plained that I wanted to meet withhim to discuss what Paul and I wereup to in our new division at Cold-well. Lou suggested a meeting athis oce at 52 Vanderbilt Avenue. Isaid, “Vanderbilt Avenue? Where’sthat?” I can just imagine what kindo second thoughts that responsemust have given him. Fortunatelyor Paul and me, Lou kept the meet-ing and became a great riend to us.Another o our company awards isnamed in his honor, recognizing allo the guidance he provided.As our careers progressed, Pauland I became aware o the Real Es-tate Board o New York and the tre-mendous work it does on behal o our industry. In the mid-1980s,we both set the goal o becomingmembers o REBNY’s Sales BrokersCommittee—and ater months o harassing Jack Hill, who oversawthe committee in those days, wenally did. It was on that commit-tee that we made several o therelationships that we still cherishto this day. The comradely natureo the sales brokerage business inNew York would surprise manypeople. Among our competitors,we’ve met a lot o people whomwe regard very highly and consid-er our good riends. In addition tomany others, these include DarcyStacom and Bill Shanahan at CBRichard Ellis; Ron Cohen, RichardBaxter, Scott Latham and Jon Ca-plan at Cushman & Wakeeld; Pe-ter Hauspurg and Brian Ezratty atEastern Consolidated; and WoodyHeller at Studley. They are all thenest o proessionals and amongthe nicest people you could meet.Other brokers have helped mein many ways. Mary Ann Tighe hasbeen an inspirational leader in ourindustry and I congratulate her onbecoming the rst woman to chairREBNY. Steve Siegel is my real es-tate big brother who has alwaysbeen there with the right adviceat just the right time, and I couldnever orget one o the rst bro-kers I co-brokered a sale with, Sid-ney Rosenthal, who taught me a lotabout what being a sales brokerwas all about.I’m especially honored and fat-tered when I note that this awardputs me in the company o so manylegendary brokers whom I respectand admire, including Steve Sie-gel, Ray O’Keee, Dan Gronich,Stephen Riker, Ben Fox, Mary AnnTighe, Eugene Hegy, Bruce Mos-ler, Earl Atlman and my partner,Paul Massey, who was the recipi-ent three years ago. This recog-nition is particularly meaningulto me as Lou Smadbeck was oneo those early members o theSales Brokers Committee whom Ilearned so much rom. He was gra-cious enough to send Paul and mea kind letter in November o 1988,congratulating us on the openingo our rm. That letter, and a photoo Lou, hangs in the reception areao our Manhattan oce.
I
can also think o so many clientsto whom I owe so much. I apol-ogize to each o you or not be-ing able to mention you all here byname. I must, however, acknowl-edge a ew. I’ll be orever grateulto Harry Macklowe or allowing meto represent him in several transac-tions, including the sale o his mul-tiamily portolio, one o the mostrewarding transactions I’ve everworked on. Beore Oer Yardeni be-came the maverick investor that heis today, he was a sales broker, andwe completed the sale o a prop-erty on West 28th Street togetherin the early 1990s. I’m honored tocount him as one o my clients to-day, having sold many propertiesor him over the years.Gary Barnett and Dov Hertz con-tinue to impress me with their in-sightul knowledge and straight-orward approach. Seventeen yearso transactions later, I remain ap-preciative o what they’ve done orme. Frank Patao, Russ Appel andJoel Wiener continue to show con-dence in me year ater year, andI’m very grateul. Joe Sitt has beenconsistently great to work with,and Andy Davido has not onlybeen a wonderul client but has be-come a valued riend.But no matter how small thetransaction, without the con-dence and trust o each client, atrack record cannot grow. There-ore, I’m extraordinarily thankulto each and every client with whomI’ve ever worked.The many past and presentmembers o my Massey Knakalamily have had a huge hand inthat track record—rom all o mypartners, including John Ciraulo,Tom Donovan, James Nelson, Shi-mon Shkury, Christy Moyle, andMike Wlody; to our managementteam, including Gia LaMarca, KyleMast and Ken Krasnow; to eachbroker; to our part-time interns.My personal team members, JonHageman, Elysa Berlin, Tom Wil-loughby, Kevin Gleason and GregPostyn, and my personal assistant,Erin Mitchell, are second to nonein terms o supporting my eorts.Past team members include DannyHagan, Mike Desjadon, Mike So-leimani, David Kalish, Casey Mc-Cormack, J.J. Stanton, MeyrickFerguson, Michael Decheser, PeterDeCheser and James Nelson, whois not only a partner but is a topproducer at the rm.All I can say is thank you to allo you, mentioned here or not,who have participated in transac-tions with me. This is a business inwhich success cannot be attainedwithout signicant help. I’ve beenvery lucky to have had so manywonderul people to enjoy this in-credible job with, and also lucky tohave accidentally ound a vocationI love so much.
rknakal@masseyknakal.com Robert Knakal is the chairman andfounding partner of Massey Knakal Realty Services, and has brokeredthe sale of more than 1,050 proper-ties in his career.
This REBNY honoree has many to thank for success in hisaccidental vocation
A Thank-You Note
There was no Web in 1981,so I went to the library prior to the interview to do someresearch on this bank sothat I’d be prepared. WhenI discovered that Coldwell Banker was a real estatecompany, I almost didn’t goto the interview.
CONCRETE THOUGHTS
Robert KnakalColumnist
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