Wednesday, June 16, 2010

This Week's News Roundup

Click on any of the following links to read the stories -- this week's interesting real estate business news:

Crain's New York Business notes that restaurateur Ed Martinson signed a 20-year, 5,000-square-foot lease at 45 E. 30th St. Peter Braus and Peter Levitan of Sierra Realty Corp. represented both the tenant and landlord, 43 Park Owners Group. Mr. Martinson's new restaurant is scheduled to open this summer.

REBNYʼs annual Retail Deal of the Year awards highlighted the Best of 2009. Above, Ripco Real Estateʼs Peter Ripka (joined by Sierra Realtyʼs Peter Braus) holds his award for the deal that “Most Significantly Benefits Manhattan” -- the leasing journey of the 475k SF East River Plaza, which turned a dilapidated manufacturing plant into a retail destination.

M. Marianne Thorsen and An-Chi Miau of Sierra Realty are handling Hotel East Houston at 151 East Houston, between Eldridge and Allen streets, on the market for $25 million. The newly constructed hotel, comprising 15,395 square feet and six stories, has 42 rooms with custom-made furniture, wood finishes and marble bathrooms. In addition, the hotel has a banquet facility, nearby parking and a rooftop terrace and lounge that overlook the Hudson River.

Sierra Realty Corp. launched Sierra Development, its new construction and development division, which will be led by Gary Zaid. This expands the companyʼs service lines to include construction and project management, owner and tenant representation, general contracting, value engineering, and development services.

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