Commercial investors may look to Worldwide Plaza as model

Commercial investors may look to Worldwide Plaza as model
October 23, 2009 12:10 PM

Real estate investor Peter Duncan, who scored a deal on the 49-story Worldwide Plaza building in July, now has the chance to shape the New York commercial real estate market’s investment landscape. Duncan, who is president of George Comfort & Sons, purchased the property at 825 Eighth Avenue for $590 million, roughly a third of what Harry Macklowe paid for it in February 2007. The price means Duncan might be able to lease out the first 14 floors, which stand vacant as the second-largest empty space in the city, for as little as $30 or $40 per square foot, according to Robert Sammons, research director at Colliers ABR. Whereas Midtown office buildings have had a rough year — CB Richard Ellis Group reported that there have been no single leases in the area for more than 250,000 square feet — low prices may hasten leasing activity for the space in Duncan’s building formerly occupied by advertising firm Ogilvy & Mather. That could, in turn, encourage other investors to take on risk in buying up more New York office buildings, said Jim Frederick, also of Colliers. [Bloomberg]

http://therealdeal.com/blog/2009/10/23/commercial-investors-may-look-to-peter-duncan-s-worldwide-plaza-as-model/

NYC Tower Buyers Wrestle Towering Vacancy Dilemma (Update1)

NYC Tower Buyers Wrestle Towering Vacancy Dilemma (Update1)
By David M. Levitt - October 23, 2009 13:08 EDT

Oct. 23 (Bloomberg) -- Real estate investor Peter Duncan, who negotiated the nation’s biggest property deal of the year in buying Manhattan’s Worldwide Plaza, is now in charge of a skyscraper that’s 40 percent empty.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aJG1.l7fPiik

Frankfurt: Grounds for optimism in spite of upheaval

Property

Frankfurt: Grounds for optimism in spite of upheaval

By James Wilson in Frankfurt
Published: October 2 2009 16:02 | Last updated: October 2 2009 16:02

Frankfurt’s property market professionals are surprisingly optimistic about the city’s prospects in spite of the inevitable upheaval that the deep banking crisis has caused in Germany’s financial capital.

http://www.ft.com/cms/s/0/c0b8a95a-ad13-11de-9caf-00144feabdc0.html#axzz2PXw36Vqx

Fund-Performance Scorecard for Third Quarter

http://www.realert.com/ranks.php

Fund-Performance Scorecard for Third Quarter

HIGH-YIELD DEBT FUNDS

Executive Interview with Chris LaBianca

Executive Interview with Chris LaBianca
September 17th, 2009 | Author: Dave Jacobs

Christopher LaBianca
President
RCG Longview

Christopher LaBianca joined the RCG Longview series of Real Estate Debt Funds in April of 2008 and serves as the President of their current high yield debt fund RCG Longview Debt Fund IV, L.P. His responsibilities include oversight of the origination, underwriting, closing, servicing and asset management of all fund investments. Since the inception of RCG Longview Debt Fund Series in 1999, the managers, Peter Cohen and Michael Boxer (Ramius Capital Group, LLC),Jeffrey Feil and Jay Anderson (The Feil Organization), Morton Olshan (Mall Properties), and Jon Estreich (Estreich & Company), have originated more than $1.8 billion in real estate mezzanine debt and other related instruments through RCG Longview fund vehicles. The investment strategy of the funds is driven by the collective experience of the managers as owners and operators of real estate. RCG Longview thus differentiates itself from its competition by focusing on opportunities where its experience and operational capabilities add additional value beyond financial structuring. During its ten years in business, RCG Longview has been active in practically every major US real estate market. It has made more than 350 investments secured by over $9 billion of real estate.

http://llenrock.com/blog/executive-interview-with-chris-labianca/

Hard Times in Office Space

Hard Times in Office Space
Conversation over lunch at Nocello with William E. Hartman, Executive Vice President, Cushman & Wakefield

BY ALEXEI BAYER
September 1, 2009

Who: William E. Hartman, Executive Vice President, Cushman & Wakefield
Where: Nocello, 257 West 55th Street, New York City, July 27, 2009
On the Menu: Gnocchi, salmon and real estate travails

Nocello, a midtown Italian restaurant I reserved for a lunch interview with Cushman & Wakefield's William Hartman, happens to face a long blue construction fence stretching the entire length of a city block. Behind the fence, the foundation of another huge Manhattan skyscraper looks nearly complete.

http://www.advisorone.com/2009/09/01/hard-times-in-office-space

BRICs Emerging From Recession - CNBC.com

Emerging Markets: Out of Recession

BRICs Emerging From Recession - CNBC.com

Some emerging markets have rebounded strongly. Goldman's Jim O'Neill talks about when it's time to get in.

Clothes: Investments That Wear Well Over Time - CNBC

Investments That Wear Well Over Time - CNBC

Leave it to Hollywood to give used clothes cache.

Once considered taboo to wear previously owned frocks, the red carpet is now crawling with A-list celebrities—Penelope Cruz, Kirsten Dunst, Kate Moss and Sarah Jessica Parker—sporting vintage gowns, handbags and even accessories. ...

Coins: Precious Metals, Rare Mints And Tales of Intrigue - CNBC

Coins: Precious Metals, Rare Mints And Tales of Intrigue - CNBC

Stockpiling coins is no longer just for the collector, nowadays even the average investor can find profits in pennies.

Well, maybe not pennies, but some coins are worth their weight in gold, literally. ...

Variety Can Bring Vitality For Your Portfolio - CNBC

Variety Can Bring Vitality For Your Portfolio - CNBC

In a market characterized by manic mood swings, it’s hard to stomach the notion of adding alternative asset classes—which can be very volatile—to your portfolio. ...