Cushman & Wakefield picked an industry veteran with stops at multiple top brokerages to lead its Midwest region and replace its current executive, who is soon to retire.
Damla Gerhart will join the company on March 2 as executive regional director of the Midwest. She will oversee the brokerage’s operations and growth initiatives in the region, which includes Chicago, Cincinnati, Columbus, Detroit, Indianapolis, Kansas City, Minneapolis and St. Louis.
Michael Colacino, a 35-year brokerage veteran, quit his job at JLL less than a month after he was promoted to lead leasing operations across a large part of the world.
The government website is meant to connect Americans with drug companies to buy prescriptions directly with their own money. It is not clear how many patients will save money.
Brookfield is reaching into its own pocket to refinance a piece of lower Manhattan’s crown jewels. The Canadian investment manager is nearing an $800 million CMBS loan for 225 Liberty Street, a 44-story, 2.4 million-square-foot office tower that’s part of Brookfield Place, Bisnow reported. Brookfield is contributing roughly $173 million of fresh equity to help refinance a $900 million CMBS loan that dates back to 2016 and comes due this week. The financing, originated by Citi Real Estate Funding, JPMorgan Chase, Bank of Nova Scotia and Wells Fargo, carries a fixed rate of just under 5.9 percent on a five-year […]
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Manhattan office landlords fearful of losing JPMorgan Chase leases to its debuting headquarters at 270 Park Avenue need not yet worry. The bank expanded its presence at Brookfield’s 5 Manhattan West by 139,000 square feet in the fourth quarter, according to the Commercial Observer. The expansion, disclosed in a Colliers office report, brings JPMorgan’s footprint at the Midtown West building to 565,000 square feet. Further details of the deal, including the length of the expansion and the asking rent, were not reported. But the average asking rent in Midtown in the fourth quarter was $84.24 per square foot, according to […]
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Brad Karp’s resignation as chairman of the law firm Paul Weiss underscores a further reflection in the corporate world over the latest revelations.
Elected officials should honor the wishes of tenants who vote for them, right? Not necessarily. In upstate New York, the newly Democratic-controlled City Council just announced it will implement good cause eviction. “Clearly, this is something that the voters wanted,” Council President Sue Steele told the Times Union. “They made it very clear in the outcome of the last election.” One thing I’ve learned from years of covering politics is that no one knows exactly why people vote the way they do. The reasons vary tremendously from one voter to the next. Rarely do they come down to one issue […]
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Sen. Brian Kavanagh will not seek reelection, leaving his seat and his role as housing chair up for grabs. Kavanagh, who announced this week that he will leave office after his term ends this year, has been chair of the Senate Committee on Housing, Construction and Community Development since January 2019, which proved to be a pivotal year for the real estate industry. Buoyed by the Senate’s newly-gained majority that year, the legislature approved the Housing Stability and Tenant Protection Act of 2019. The legislature also passed good cause eviction, created a state-based housing voucher program and approved a replacement […]
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There were 196 transactions totaling $266 million filed in New York City records in the 24 hours before 4 p.m. on Wednesday, Feb. 4, 2026. 🏆 Commercial: The priciest transaction to hit records was in Queens, where MEM Realty LLC, linked to Manuel Mejia, acquired two commercial units at 83-17 Broadway, a four-story, mixed-use building, in Elmhurst for a combined $5.8 million. The seller was Broadway FMFM LLC, tied to George Mantikas, which had previously purchased the properties for $6.4 million in 2014. Each unit spans 8,400 square feet. 🏆 Residential: The top home sale recorded was for a residential […]
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WK Kellogg is promoting Raisin Bran with William Shatner during the big game as cereal sales decline. It’s also tapping the latest health and wellness trend.