Winners 2007 most ingenious commercial deal unveiled

The Real Estate Board of New York has named the three winners of its Sales Brokers' Most Ingenious Deal of the Year Awards for 2007, presented last night at the REBNY Sales Broker Committee annual cocktail reception at the 101 Club. Chosen from among 39 real estate dealmakers in 21 sales, leases or finance transactions, the three award winners were recognized for deals that demonstrated the highest levels of ingenuity, creativity, and professional skill. The first place Henry Hart Rice Award, which memorializes Rice as a past Most Ingenious Deal of the Year Award winner and five-time Robert T. Lawrence Award recipient, was presented to Mary Ann Tighe and Gregory Tosko of CB Richard Ellis for the leasing transaction, "Adding color to grey: the winding road to Grey Group's 370,000 s/f anchor lease at 200 Fifth Ave.," a deal that incorporated redeveloping the former Toy Center, previously slated for residential conversion, while reinvigorating both the Madison Sq. Park area as well as the 90 year-old advertising agency by providing a work-space to house its employees. The second place Robert T. Lawrence Award was presented to brokers Moshe Sukenik and David Noonan of Newmark & Co. Real Estate (d/b/a Newmark Knight Frank) for a sale and leaseback deal titled "The land swap that led to the new Lincoln Sq. Synagogue," a deal consisting of one of the most complex land assemblages in Manhattan while helping create the largest new synagogue in Manhattan since Temple Emanu-El in 1927. The third place Edward S. Gordon Award was presented to Andrew Singer and Kathleen McSharry of The Singer & Bassuk Organization for the finance deal, "50 Murray St.," a deal that enables World-Wide Holdings, the ground lessor of 50 Murray St., to arrange replacement permanent financing for the rental housing development. "Those who received this year's awards for the Most Ingenious Deal of the Year demonstrated the creativity and ability aspired to by all REBNY members," said REBNY president Steven Spinola. "The details of these deals prove New York City real estate can often be a tricky road to navigate when you have your clients' best interest in mind. These professionals showed amazing wit and knowledge and not only satisfied their clients but made an indelible impact on New York City and its economy." Judges for the competition were: Robert Epstein, Finkelstein Newman Ferrara LLP; Peter Hauspurg, Eastern Consolidated; David Lebenstein, Colliers ABR, Inc.; Scott Resnick, SR Capital, LLC; and James Yasser, Milstein Properties. Sponsors for the cocktail reception were CB Richard Ellis, Cushman & Wakefield, Estreich & Company, Marcus & Millichap, M&T Bank, The New York Times, Studley, Inc. and Vornado Realty Trust.