Mary Ann Tighe and Gregory Tosko of CBRE Group, Inc. have won the 2014 Real Estate Board of New York's (REBNY) first place Henry Hart Rice Most Ingenious Deal of the Year Award (DOTY) for representing Coach, Inc., in the purchase of a 737,774 s/f office condo at Hudson Yards. The REBNY DOTY award is an all-time record eighth for Tighe and the sixth award for Tosko.
"CBRE and I congratulate Mary Ann and Greg on winning our industry's most prestigious award," said Matthew Van Buren, president, N.Y. Tri-State region, CBRE. "As this first place award demonstrates, it is hard to top the Coach deal for its complexity, size and impact on N.Y. real estate, including helping to initiate the largest development in the U.S. and what will be a new central business district in Manhattan. However, Mary Ann and Greg have shown why they consistently set the bar higher and higher for themselves and their customers and continue to rise above it."
Tighe and Tosko are the "winningest" team in REBNY history, together bringing home five REBNY Deals of the Year since 1996. Add to this Ms. Tighe's three more REBNY awards, for a total of eight, and she has set the record for the most wins in the history of the award - a history that goes back a full 70 years to the award's inception in 1944.
This year's award marks CBRE's 30th Deal of the Year honor, an unmatched accomplishment across the commercial real estate industry. All told, CBRE has won 12 Henry Hart Rice Awards, 11 Robert T. Lawrence Memorial Awards, three Edward S. Gordon Awards and four Retail Deal of the Year Awards.
Ms. Tighe, CEO of the New York Tri-State Region, and Mr. Tosko, vice chairman, CBRE Consulting Group, won for their submission: "Jumpstarting the Future: Coach Buys in to Hudson Yards," which outlined their work in negotiating luxury leather goods maker Coach's purchase of its new headquarters. Lauren Crowley Corrinet, first vice president, CBRE Consulting Group, assisted Ms. Tighe and Mr. Tosko in executing the deal.
Currently occupying space in 516 West 34th Street and 450 West 33rd Street, Coach began its search for a new headquarters in 2007 with the assistance of the CBRE team. When the company moves to the South Tower at Hudson Yards in 2015, it will own its office condominium of 737,774 sq. ft. on floors 9 through 24. Coach also has the option to either buy or lease the 25th and 26th floors.
The deal was completed in April 2013 when Related Companies and partner Oxford Properties signed other leases and agreements with the land owner, the Metropolitan Transportation Authority.
The LEED Gold South Tower, designed by acclaimed global architects Kohn Pedersen Fox Associates (KPF), will stand 895 feet tall, offering state-of-the-art commercial office and ground floor retail space. The building features panoramic views of the city and the Hudson River, with a total of 15,000 square feet of terrace space on three levels. Construction on the 1.7 million square foot tower - at the corner of 10th Avenue and the north side of 30th Street - began last year. The South Tower promises to be one of the most unique buildings in the city due to its integration with the celebrated High Line and direct connection to a public plaza. Tags: