Zaken, Cregan, O’Hara, Balsamo, and Jeudy join JAACRES; firm secures exclusive listings

April 07, 2020 - Front Section
Joseph Aquino

 

David Zaken

 

Barry Cregan

 

Owen Crowley O’Hara

 

Olivia Aquino Balsamo

 

Vicky Jeudy

 

New York, NY Under the leadership of Joseph Aquino, JAACRES has expanded its team of real estate professionals and become a leader in the commercial real estate industry. Joining the firm are David Zaken, Barry Cregan, Owen Crowley O’Hara, Olivia Aquino Balsamo, and Vicky Jeudy.

Zaken has owned 12 David Z shoe and sneaker stores in New York City and Las Vegas, and has a terrific network of contacts in the shoe and apparel business. David has also owned three commercial buildings: on Fifth Avenue, on Broadway in Union Square, and in Soho. David knows all the ropes when it comes to operating a commercial property, including filing for permits, working with contractors, and adding value to a building.

Cregan heads the hospitality division of JAACRES. He has spent 35 years in the hospitality industry, including a stint as president of The Plaza Hotel. He also operated four casinos in Atlantic City, Puerto Rico, and Connecticut, and presided over hotels in Chicago, and the South Beach area of Miami.

O’Hara loves real estate and has adapted quickly to canvassing new tenants for our clients’ industrial and retail properties, as well as hotel opportunities.

Balsamo has 15 years of brokerage experience in Queens, N.Y. She specializes in the industrial and retail sectors, and recently leased 50,000 s/f at the Swingline Building in Long Island City to Newel Props and Rentals.

Jeudy is an actress who appeared in 59 episodes of Orange is The New Black. Her second love is real estate, and when she’s not filming, she is assisting JAACRES on retail and office properties in Northern Manhattan. Her wonderful attitude and work ethic give us star quality.

The JAACRES team has also been selected as exclusive leasing agents for the retail space at 298 Fifth Ave., at the southwest corner of Fifth Ave. and 31st St. The space consists of 3,400 s/f at ground level, plus 3,300 s/f at the lower level. The building is next door to a new 21-story Le Meridien Hotel, currently in the development process. Aquino, president of JAACRES, will be spearheading the leasing along with Zaken. Further north, JAACRES is representing two 300 s/f stores with mezzanines and basements at 1034 Lexington Ave. at 74th St. In Southampton, on Long Island, JAACRES is handling the leasing and/or sale of a two-story building at 52 Jobs Ln. The store is being delivered vacant—and the buyer or tenant has the option on a one-bedroom upstairs apartment. 

“I’m confident that we will be either leasing it to an apparel or shoe tenant, or even a bank, since this is a prime Fifth Ave. corner,” said Zaken. “Midtown South has been one of Manhattan’s most dynamic retail districts for the past generation. This is prime retail space that stands between two of Manhattan’s best-loved landmarks—the Empire State Building and the Flatiron Building—and just a short walk from Macy’s department store, as well as a neighborhood known as Little Korea, which is flourishing.”

“In good and bad times, Fifth Ave. has always been the place to shop, and I’m sure this space will be leased quickly,” Aquino said. “It lays out nicely and has more than 100 ft. of frontage that wraps the corner. It’s hard to find that type of presence in any market.”

JAACRES has been building its international presence with The Secret Broker Society. Outside firms like Lunson Mitchenall (London) and The Weitzman Group (Dallas), plus 20 other brokers, feed JAACRES prospective tenants and other assignments to keep our team ahead of the curve.

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Jeff Margolis 4/7/20, 12:08 PM

Wow. Great to hear of expansion ..some bright news in this gloomy commercial leasing environment. Congrats Joe and new colleagues! Looking forward to some good networking. Jeff Margolis, Principal, The Margolis Law Firm

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