Regions Northeast
CBRE Promotes Reicher to Vice Chairman
Aug 6, 2008

CB Richard Ellis said today that Craig Reicher, a 21-year commercial real estate veteran, has been promoted to vice chairman, joining the ranks of the firm’s executive leadership in the New York Tri-State Region.  Reicher focuses on developing and implementing creative real estate strategies for a wide variety of New York City’s leading owners and corporations.  Over the course of the last five years, he has negotiated close to 1 million square feet on behalf of Bloomberg L.P. and led the team that renewed Fried Frank’s 380,000-square-foot lease at One New York Plaza.  He has also represented Marsh & McLennan, Guy Carpenter, The Port Authority of New York and New Jersey, Empire Blue Cross, The Conference Board, Duquesne Capital, The Legal Aid Society, Kaye Scholer and Jackson Lewis in assignments in Manhattan and across the country.  Reicher’s brokerage practice also includes landlord representation and investment sales work.  In March, he was part of the team that closed the $525 million sale of 120 Park Avenue on behalf of the seller, Altria Group, together with the leaseback of 100,000 square feet at 120 Park by Philip Morris International and Altria. 

 
Recent Northeast Headlines
NYC Real Estate Whiz Busted
Aug. 29, 2008
Manhattan District Attorney Robert Morgenthau has brought down NYC real-estate investor Adam Hochfelder, according to news reports. The DA arrested and charge Hochfelder with allegedly bilking associates and banks out of more than $17 million.  The most serious charge, grand larceny, for lying on and forging various documents, could earn him a whopping return--25 years in jail. The 37-year-old was chairman & CEO of Max Capital Management Corp.
$25M Loan in Place for 276,000-SF Jersey Office Portfolio
Aug. 29, 2008
A joint venture involving Ivy Equities and Urdang Capital Management has gotten its hands on nearly $25.2 million in financing for a group of four office buildings in Parsippany, N.J.
Suburban Boston Industrial Property Snapped Up for $39M
Aug. 29, 2008
Cabot Properties has just become the new owner of I-290 Industrial Park, having shelled out $39 million for the 577,000-square-foot property in Northborough, Mass.
Catskills Hotel Project Gets $525M in Redevelopment Funding
Aug. 29, 2008
Redevelopment of the site that was once home to the Borscht Belt’s legendary Concord Hotel, in Kiamesha Lake, N.Y., has taken two major steps forward. In one, Concord Associates L.P., joint venture partner of Empire Resorts Inc., has completed a $225 million equity loan financing with Entertainment Properties Trust, a REIT based in Kansas City. In the other, the County of Sullivan (N.Y.) Industrial Development Agency has announced a $300 million bond financing for the resort’s redevelopment, the agency’s first major funding for the $1.1 billion project.
Fire Brought Down 7 WTC: Report
Aug. 28, 2008
At a technical briefing this week, Shyam Sundar, lead investigator for the federal building and fire investigation of the World Trade Center disaster conducted by the National Institute of Standards and Technology, revealed in detail how fire brought down the 7 World Trade Center building. The reports conclusions were first announced last week.