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THE DEAL SHEET

New York

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Sales Transactions

A Brazilian real estate developer purchased the Hammacher Schlemmer Building at 145 E. 57th St. from Jenel Management for $34M. CBRE's Darcy Stacom, Paul Gillen, and Robert Garrish represented the seller. The entire 62.5k SF building is net-leased by the Hammacher Schlemmer catalogue company, whose lease is set to expire later this year, along with the remaining office subleases. (We hear new leases will be sold on page 45, next to the robotic vacuum that's also a camera and coffee machine.)

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Memorial Sloan-Kettering Hospital purchased a six-story, 41-unit elevator rental building at 311 E. 54th St. from an estate for $10M. The hospital plans to use the building for staff housing. Rosewood Realty Group's Devin Cohen, Michael Guttman, and Aaron Jungreis represented both the buyer and seller.

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Atlantic Hoisting and Scaffolding purchased an 8.5 acre site with 85k SF of buildings at 700 Commercial Ave. in Carlstadt, NJ for $8.3M. Team Resources SBWE's Greg Sholom and David Cantor brokered the deal. The buyer plans to relocate its Brooklyn operation to the property.

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Massey Knakal sold three properties: a 29-unit walk-up apartment building at 36-52 35th St. in Long Island City for $3.3M cash (brokers:Al Holloman and Evan Daniel); a mixed-use building at 415 E. 78th St. for $2.3M cash (broker: Thomas Gammino Jr.); and a mixed-use building at 248-250 Prospect Park West in Park Slope, Brooklyn for $1.7M cash (brokers: Adam Hess and Paul Massey Jr.)

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14 SMRR LLC purchased the 25k SF 14 Saw Mill River Rd. in Hawthorne, NY for $2.7M. NAI Friedland's Ellen Benedek and Carl Silbergleit represented both the buyer and seller, Margaret S. Brown Trust.

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Petro Real Estate Development purchased 71-unit The Vista at Fleetwood, 550 Locust St. in Mount Vernon, NY. The property was purchased at auction conducted under Section 363 of the US Bankruptcy Code, and was owned by Locust Street Developers. Newmark Knight Frank Capital Group's Matthew Schnürr, Jacklene Chesler, and Brittain Youngblood handled the sale, while Michael Petrillo represented the buyer in-house.

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Core Services Corp. purchased the 50k SF 130 Belmont Dr. in Edison, NJ for its HQ and dual-path power data center. Cushman & Wakefield's Mary Ryan represented the buyer, while CBRE represented the seller, a major Wall Street bank.

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A jewelry importer purchased the 43k SF 60 Commerce Way in Hackensack from Prism Capital Partners for its new HQ. Jones Lang LaSalle's Michael Schaible represented the seller, and Young Star Realty represented the buyer.

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Lowe's Home Center purchased the Commack Multiplex at the LIE and Commack Rd. in Commack, Long Island. Island Associates Real Estate's Chris Nicholson represented both the buyer and seller.

Lease Transactions

Continental Terminals signed a 190k SF lease at 45 E. Linden Ave. in Jersey City. Team Resources SBWE's Greg Sholom and Ron Sholom brokered the transaction.

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NAI Friedland brokered eight transactions:

  • WJL Equities' 16k SF lease at 1162 A Grinnell Pl. in the Bronx and 4k SF at 1162 B Grinnell Pl. (broker: Tony Lembeck; landlord: ST1 Realty)
  • Brightside Academy's 11k SF lease at 50 Belmont Ave. in Brooklyn (tenant rep: NAI's Kathy Zamechansky; landlord rep: NAI's Rick Stassa; landlord: RESJ Realty Corp.)
  • David Yurman's 7k SF lease at 712 Madison Ave. (broker:Gene Meer; landlord: Duell)
  • Residential Home Funding's 5.2k SF sublease at 707 Westchester Ave., White Plains from Bohler Engineering(brokers: Ellen Benedek and Carl Silbergleit)
  • Silver Mattress' 5k SF lease at 1162 Grinnell Pl. (tenant broker: Marcos Quimbaya; landlord broker: Lembeck; landlord: ST1 Realty)
  • Cheeburger Cheeburger' s 3.3k SF lease at 84-86 Mamaroneck Ave., White Plains (tenant rep: Landmark Commercial Real Estate Services' Greg Mallory; owner rep: NAI's Joan Simon; landlord: Silverman Realty)
  • Women's Empowerment Self-Defense Academy's 1.6k SF lease at 2138 E Tremont Ave. in the Bronx (brokers: Robin Herko, Steve Lorenzo, and David Scotto; landlord:Parchester Condominiums)

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Team Resources SBWE brokered two leases for 141 and 135 West Commercial Ave. in Moonachie, NJ: SunTaiyang's 32k SF lease at 141 (brokers: Joe Manganaro and David Cantor); and Holiday Imaging's 45k SF lease at 135 (broker: Greg Sholom)

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280 Park Ave. saw six deals: Essex Woodlands Health Ventures' 8.7k SF lease (tenant reps: Cushman & Wakefield's Barry Zeller and Jeff Lovell); Danske Bank's 8.6k SF lease (tenant rep: CBRE's Matthew McBride); Viking Global Investors' 6.1k SF lease (tenant rep: C&W's Michael Burgio); ExlService Holding's 8.7k SF lease (tenant rep: CBRE's Scott Bogetti); Pacific Coast Capital Partners' 5.6k SF lease (tenant rep: Cogswell Realty's Anthony Stapleton); and Private Export Funding Corp.'s 10.6k SF renewal. CBRE's Peter Turchin, Paul Amrich, Gregg Rothkin, and Sam Seiler represented owner Investcorp International in all six leases.

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Copack International signed a long-term, 40k SF lease at 23 Carol St. in Clifton, NJ for its food processing business. Team Resources SBWE's Greg Sholom, David Cantor, Ron Sholom, and Stephen Ulin brokered the lease.

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10 E. 53rd St. saw four deals: Metropolitan Bank's 5k SF renewal;New Millennium Group's 2k SF renewal; Financial Services Volunteer Corp.'s 10-year, 17.8k SF lease (tenant reps: CBRE's Jim Emden, now with Colliers International, and Grubb & Ellis' Ira Rovitz); and USS Holding and Gridley & Co.'s 7.4k SF lease (tenant reps: Centric Real Estate Advisors' Patrick Robinson and Lindsay Ornstein). Cassidy Turley's Jim Frederick and Dick Michaels represented the owner in each deal.

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Saks inked a 10-year, 27.8k SF lease at three connected buildings,53 W. 23rd St., 49 W. 23rd St., and 30 W. 24th St. Adams & Co.'s James Buslik and Alan Bonett represented both the tenant and owner. Terms were not disclosed, but the asking price was $32/SF.

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IntegraMed America renewed and expanded its offices to 27.4k SF at 1 and 2 Manhattanville Rd., also known as The Centre at Purchase, in Purchase, NY. The tenant represented itself, while Peter Duncan, Dana Pike, and Andrew Joseph represented owner George Comfort & Sons in-house.

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Intrasphere Technologies inked a seven-year, 18.5k SF sublease at Harborside Financial Center Plaza 10 in Jersey City. Colliers International's Robert Goodman repped the subtenant, while Jones Lang LaSalle's John Wheeler repped sublessor Gramercy Realty.

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286 Madison Ave. saw six deals: McGovern & Co.'s 5.6k SF renewal; Josephson Luxenberg Kance Maybaum & Dolinger CPAs' 5.6k SF renewal and expansion; Eureka Capital Markets' 3.2k SF renewal; Frederic R. Horowitz' 2k SF lease; Levine & Princes' 1.6 k SF renewal (tenant rep: Rick Clyne) and Woodcrest Management Corp.'s 930 SF renewal (tenant rep: Clyne). Cushman & Wakefield's David Rosenbloom, Joshua Goldman, and Larry Lazerwitz represented owner APF Properties.

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Kintetsu World Express inked a 15k SF lease at One Jericho Plaza in Jericho, Long Island. NAI Long Island's John LaRuffa represented the tenant, while The Rochlin Organization's Adam Rochlin represented owner One-Two Jericho Plaza Owner, part of Onyx Equities.

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276 Fifth Ave. saw six deals: David Horowitz PC's five-year, 4.9k SF lease; Mavrides, Moyal & Associates' five-year, 4k SF lease; Paul Greene's 10-year, 2.2k SF lease; Creative Marketing's one-year, 1.4k SF lease; the Handel House of Fabrics' five-year, 1.5k SF lease; and Geto and de Mily's seven-year, 3.3k SF lease (tenant broker: Bergson Strategies' Alan Eagle). Winoker Realty's Elliot Klein represented owner 276 Managers in the six transactions and the tenant in five.

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Ford Models inked a long-term, 11.2k SF deal at 57 W. 57th St. Colliers International's Michael Thomas and David Libertson represented the tenant, while Christel Engel represented the ownership, a partnership that includes several Colliers execs.

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Monster Mini Golf inked a 9.8k SF lease at Executive Plaza shopping center, Route 9 and Union Hill Rd. in Marlboro, NJ. CBRE's Jason Pierson represented the owner, Renaissance Properties.

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1156 Avenue of the Americas saw three deals: Florek & Andres' 3.7k SF lease (tenant rep: Interactive Properties Corp.'s Michael Elkin); Vimco Diamond Corp.'s 2.5k SF renewal; and American Originals Corp.'s 2k SF lease (tenant rep: George Comfort & Sons'Dennis Someck). Cushman & Wakefield's David Rosenbloom,Joshua Goldman, and Larry Lazerwitz represented owner APF Properties.

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Breitling inked an 8.5k-SF lease at 5 E. 57th St. for its first US retail store. Crown Retail Service's Stephanie Synder worked with CBRE's Annette Healey, who represented Nokia, the former occupant of the space. The deal was negotiated directly with owner Duell Management.

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Wilton 372 in Wilton, Conn. saw three deals totaling 8k SF:Relocation Taxes' expansion; Northwestern Mutual Financial Network's relocation lease; and Systra Consulting's lease. Newmark Knight Frank's John Goodkind, Gilbert Ohls, and Richard Rosencrans represented the owner Luzern Associates.

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Foursquare has signed into the sixth floor of 36 Cooper Square, where it has taken a 7.6k SF lease (will it become its own mayor?). It was sharing offices with Curbed and Hard Candy Shell, and outgrew Curbed's space. In a twist, Foursquare invited Curbed and Hard Candy Shell to share its new premises. Studley's Jason Schwartzenberg and Marc Shapses represented the tenant; as part of the transaction, they negotiated for Curbed to be excused from its sublease obligation on the fifth floor. Tarter Stats O'Toole's Daniel Creighton represented owner Hartz Mountain.

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Lyoness US inked a five-year, 6k SF lease at the Empire State Building. Prudential Douglas Elliman's Christine Traina represented the tenant, while Newmark Knight Frank's Billy Cohen, Ryan Kass, and Julie Christiano repped owner W&H Properties.

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25 W. 45th St. saw two deals: Advertising Women of New York's 1.4k SF renewal, and the Jewelers Vigilance Committee's 2.1k SF renewal. Cushman & Wakefield's David Rosenbloom, Joshua Goldman, and Larry Lazerwitz were the sole brokers; APF Properties in the owner.

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KiptonART inked a six-month, 2.2k SF lease for its pop-up space at Hyatt's Andaz Hotel, 75 Wall Street. The art exhibition will lease the retail space while Winick Realty Group's Darrell Rubens and Annie Shinn seek a long-term tenant.

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Charter School Business Management signed a 2.1k SF lease at 237 W. 35th St. Savitt Partners' Jeffrey Ram and Brian Neugeboren represented the tenant, while The Kaufman Org.'s Michael Kaufman represented owner 35th Street Associates.

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Clearwire Communications inked a 2k SF retail lease at 865 Broadway, which it plans to open in the fall as part of a Tri-State rollout. Northwest Atlantic's Jacqueline Klinger represented the tenant, while Winick Realty Group's Benjamin Fox represented the owner. According to Northwest Atlantic, several more leases will be signed shortly, and the tenant is looking in Manhattan, the boroughs, and suburbs.

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Freshii inked a 10-year, 1.4k SF deal at 1407 Broadway for its first NYC restaurant. Gettinger Management's Bob Forman brokered the deal; the Kaufman Org.'s Grant Greenspan, Michael Heaner, and Sommer Scafidi are the exclusive leasing agents for the building. Although the terms weren't disclosed, the asking price was $200/SF.

Financing

NCB FSB arranged $61M in new loan originations, including a $5M first mortgage and $500k line of credit for a 324-unit co-op at 20 E. 9th St. (arranged by Mindy Goldstein); a $5.7M first mortgage for Lincoln Spencer Apartments, a 237-unit co-op at 140 W. 69th St. (arranged by Sheldon Gartenstein); and a $7.4M first mortgage for a 187-unit co-op at 132 E. 35th St. (arranged by Edward Howe III).

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GCP Capital Group arranged mortgage financing for three deals:$13.9M for a package of six multifamily properties totaling 325 units throughout the Bronx and Queens (arranged by Adam Brostovski);$7.4M for an 18-story, 187-unit co-op building on E. 35th St. (arranged by Alan Perlmutter); and $1.2M for two six-story walk-up co-ops on E. 51st St. (arranged by Brostovski).

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The Board of the NYC Capital Resource Corp. gave preliminary approval for ESmith Legacy Harlem to receive an allocation of up to $19.7M in Recovery Zone Facility Bonds to assist in the development and construction of an approximately 100k SF hotel at 100 W. 125th St. in Harlem. The NYC Industrial Agency Board also approved a $1M tax incentive package for Rolling Steel Industries' acquisition of a 20k SF vacant parcel of land at 1145 Rockaway Ave. in East New York, Brooklyn, where it will construct a 20k SF industrial facility. Together, the two projects will create 89 permanent jobs and 129 construction jobs.

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CBRE Capital Partners originated first mortgage financing on Riverhouse, a 262-unit condo project at One Rockefeller Park in Battery Park City North. The collateral for the loan comprises the remaining 77 units, which are in the process of selling out.

Business

NAI Global formed an alliance with Chicago-based NRC Realty & Capital Advisors to dispose of single commercial properties and real estate asset portfolios via online sealed-bid auctions. NRC, through its proprietary technology, database, and sealed-bid marketing and sales process, conducts accelerated sales programs for commercial real estate nationally.

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Colliers International expanded into Long Island with the addition of Sutton & Edwards. The Long Island firm will now operate as part of the Colliers International New York Tri-State hub and adapt the Colliers name and branding, adding to its Manhattan, Connecticut, and NJ regional offices.

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Colliers International also launched its Tri-State Life Science Practice Group to handle leasing, investment sales, and dispositions in the life science sector throughout NY, NJ, and Connecticut. Princeton-based John Cunningham will lead the group, and Parsippany-based Andrew Tarvin will focus on the Northern NJ and NY markets.

Executive Moves

Cushman & Wakefield named John Santora CEO of client solutions, a new position overseeing one of the firm's largest operating units, with more than 7k employees. He previously served as president and CEO of the firm's Americas region since '08, and was global COO before that. A search is underway to fill the regional CEO position, and John will serve in both capacities until a replacement is identified.

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Robert Martin joined Jones Lang LaSalle as vice chairman with its NYC brokerage operations, providing executive oversight of the firm's NYC brokerage activities and helping drive growth of all its service lines. He was previously with CBRE, and held a position with Grubb & Ellis. In the past five years, he arranged more than 6M SF of transactions, totaling over $3B. He is a graduate of the Wharton School of Business.

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Rick Migliorelli joined JLL as business development manager for its Mobile Engineering Services Group, based in Ridgewood, NJ. He was previously with Donnelly Facilities Services, and was national director of design services for Toys "R" Us. During his career, Migliorelli has steered the design, construction and approval of hundreds of new stores for major retailers across the country, including Steve & Barry's, Ann Taylor, and Bed Bath & Beyond. He's a graduate of NJIT.

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James Emden joined Colliers International as vice chairman, responsible for further growing the firm's tenant rep division, transacting leases, acquiring new business, and developing the firm's broker roster. He was previously with CBRE, and was an original member of predecessor Edward S. Gordon Co., which became Insignia/ESG and then CBRE. He's negotiated more than $500M in regional leases, including Viacom's 450k lease at 1515 Broadway.

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Lauren Davidson joined Newmark Knight Frank as director of biz dev at the Empire State Building, responsible for introducing brokers and prospective tenants to the property. She was previously with Grubb & Ellis, and also held positions at Cushman & Wakefield, Citigroup, and Marsh. She's an NYU and UPENN grad.

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Chad Johnson joined Meridian Capital Group as managing director in its Commercial Originations Group, originating loans nationally. He will report to Marty Lanigan and will work out of Kansas City and NYC. Previously, he held senior origination and mortgage banking roles with GMAC Commercial Mortgage, UBS, Deutsche Bank, and Wachovia.

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John Tamborino joined Skanska USA's NY flagship office as VP of preconstruction, responsible for overseeing preconstruction work in the Metro NY region. He was previously with Bovis Lend Lease. He is a graduate of Syracuse University.

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NAI James E. Hanson promoted Anthony Cassano to VP. He was previously associate VP, and is responsible for office and retail lease negotiations in Northern NJ. He completed 20 deals worth $12M in '09, and has worked with a number of NJ's current and former financial institutions including TD Bank and Bank of America. He's a graduate of Fairleigh Dickinson and Xavier.

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Rosenberg & Estis promoted Luise Barrack to managing partner, taking over the day-to-day management from chairman Gary Rosenberg. She joined the boutique real estate law firm in '84, and heads the firm's litigation practice.

Related Topics: CBRE, JLL, Skanska, Newmark Grubb Knight Frank, Meridian Capital Group, Empire State Building, Rosewood Realty Group, Michael Guttman, TD Bank, Aaron Jungreis, Evan Daniel, Mount Vernon, Northwestern Mutual, Hartz Mountain, APF Properties, Adam Hess, John Wheeler, Patrick Robinson, Benjamin Fox, East New York, Northwest Atlantic, John Cunningham, Winoker Realty, Kansas City, NAI Global, Deutsche Bank, James Buslik, Ryan Kass, Northern NJ, Bed Bath, George Comfort, Grant Greenspan, Winick Realty Group, Mindy Goldstein, Sheldon Gartenstein, Edward Howe III, Bohler Engineering, Peter Turchin, Onyx Equities, Paul Amrich, Robin Herko, David Scotto, Steve Lorenzo, Capital Advisors, Rick Stassa, Alan Bonett, Michael Heaner, Darrell Rubens, Ann Taylor, Alan Perlmutter, Carl Silbergleit, Michael Kaufman, The Centre, Bovis Lend Lease, Street Associates, Lindsay Ornstein, Marc Shapses, Ellen Benedek, Brian Neugeboren, Team Resources SBWE, Kaufman Org, Elliot Klein, Memorial Sloan, Barry Zeller, Annie Shinn, Centric Real Estate Advisors, Gregg Rothkin, Prism Capital Partners, Kathy Zamechansky, Cogswell Realty, Greg Sholom, Joan Simon, David Rosenbloom, Michael Burgio, Michael Thomas, Robert Martin, David Cantor, Al Holloman, Julie Christiano, Lauren Davidson, Jim Frederick, Tarter Stats, Larry Lazerwitz, Gordon Co, Cooper Square, John Goodkind, Pacific Coast Capital Partners, 1 Realty, Robert Goodman, Adam Rochlin, Fairleigh Dickinson, Peter Duncan, Dennis Someck, Thomas Gammino Jr, Sam Seiler, Paul Gillen, The Board, NRC Realty, Syracuse University, Devin Cohen, James Emden, Scott Bogetti, David Yurman, Anthony Cassano, Tony Lembeck, Anthony Stapleton, Jason Schwartzenberg, Ira Rovitz, Commerce Way, John LaRuffa, Recovery Zone Facility Bonds, Matthew McBride, Ron Sholom, Chad Johnson, Marty Lanigan, Prospect Park West, NYC Capital Resource Corp, Gramercy Realty, BusinessNAI Global, Joshua Goldman, Gilbert Ohls, Grinnell Pl, Annette Healey, Jenel Management, Andrew Tarvin, Robert Garrish, Harborside Financial Center Plaza, Joe Manganaro, Executive Plaza, Paul Massey Jr, Christel Engel, Jeffrey Ram, Brightside Academy, Christine Traina, Dana Pike, GMAC Commercial Mortgage, Luzern Associates, Investcorp International, Kintetsu World Express, The Long Island, David Libertson, Andaz Hotel, One Jericho Plaza, Renaissance Properties, Paul Greene, Gettinger Management, Home Center, Jason Pierson, Island Associates Real Estate, Daniel Creighton, Crown Retail Service, Charter School Business Management, Danske Bank, Mary Ryan, Young Star Realty, Gene Meer, The Rochlin Organization, Bergson Strategies, Alan Eagle, Richard Rosencrans, Hard Candy Shell, Bob Forman, Battery Park City North, Linden Ave