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A Special Edition from Sokol Media, Inc.

JUNE 2014

TOP WOMEN IN

DESIGN AND

PHOTO BY THOMAS H. KIEREN

CONSTRUCTION

SHELBY JOHNSON CEO, Theodore Williams Construction Company, LLC


Contents 2

PUBLISHER’S PAGE

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INDUSTRY NEWS From retail deals to bidding wars, REBNY takes center stage.

10

TOP WOMAN IN DESIGN & CONSTRUCTION Shelby Johnson, CEO of Theodore Williams Construction Company, brings all new meaning to the term ‘Down To Earth’.

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DISTRICT FOR DESIGNERS Faith’s Fashion Focus - Heaven in the Hamptons

21

10

CALENDAR The hottest industry happenings in June, July and August

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MNS Report: Brooklyn Rentals Come see which Brooklyn rentals are on the rise.

26

MNS Report: Manhattan Rentals Doorman vs.

on-Doorman - What’s the true cost

17

www.sokolmediaonline.com • 1


Publisher’s Page Built Upon Honesty For Shelby Johnson, CEO of Theodore Williams Construction Company, LLC, one of the keys to her rm’s success is that she and her sta are honest, through and through,’ she says. And by spending ust a few minutes in her company, it becomes clear that her telling it like it is’ policy is not only refreshing, but one that has surely contributed to the trust she has built among her clients, sta , and sub-contractors, as this issue’s cover story reveals. And an increasing level of trust is what we can all use, particularly among ew ork City residents who have been uestioning when the warm seasonal weather would nally arrive. Fortunately, it now has, and the Hamptons is back to welcoming crowds of shoppers, as evidenced in this issue’s ‘Heaven in the Hamptons’. But even more importantly, it has become resoundingly clear that the ew ork area’s rental properties are again building in value, particularly when comparing April 201 to 2014 levels. The inside M S Report illustrates this point through its review of both Manhattan and Brooklyn rentals to-date. So, ust as we can trust that the four seasons will ultimately arrive, we can also trust that ew ork City- based real estate will ultimately thrive, allowing us all to nd some time to hopefully relax this Summer. See you in the Hamptons En oy the issue Lori Sokol, Ph.D. Founder & Publisher Please address all comments and questions to lori@sokolmediaonline.com

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Sokol Media, Inc. FOUNDER & PUBLISHER Lori M. Sokol ART DIRECTOR Kerstin Vogdes Diehn PUBLISHING CONSULTANT James Janson CONTRIBUTING WRITER Faith Hope Consolo COPYWRITER/ RESEARCH ASSISTANT Jason H. Greenberg WEB DESIGN Design Disegno ACCOUNTING Citrin Cooperman PRINTING AmericasPrinter Sokol Media, Inc. 75 West End Avenue, #P15F New York, NY 10023 Ph: 973-769-7012 www.sokolmediaonline.com Copyright by Sokol Media, Inc. No part of the publication may be reproduced or transmitted in any form or by any means without prior written consent from the publisher. The publisher reserves the right to accept or reject any advertising or editorial materials. Advertisers and/or their agents assume the responsibility for all content of published advertisements and assume responsibility for any claims against the published based upon the advertisement. Editorial contributors assume any claims against the publisher based on the published work. No part of this publication may be reproduced in any form or by any electronic ormechanical means, including information storage and retrieval systems without permission in writing from the publisher. All items submitted to Sokol Media, Inc. become the sole property of Sokol Media, Inc. Editorial content may not necessarily reflect the views of the publisher. All correspondence and inquiries should be addressed to: Sokol Media, Inc., 75 West End Avenue, #P15F, New York, NY 10023.


Congratulations to

SHELBY JOHNSON

‘TOP WOMAN IN DESIGN & CONSTRUCTION’

CMS Electrical Services 46 Carnation Avenue Floral Park, NY 11001 Tel: 646-415-9133 www.cms-electrical.com


INDUSTRY NEWS

STELLA TOWER IS MORE THAN 60 PERCENT SOLD Contracts Average $2,000 Per Square Foot In The Ralph Walker Building REAL ESTATE DEVELOPMENT TEAM JDS DEVELOPMENT GROUP AND PROPERTY MARKETS GROUP, in partnership with Starwood Capital Group, are pleased to announce that the newest Ralph Walker condominium conversion Stella Tower, which o cially launched sales last month, is already more than 60 percent sold. Located between Ninth and Tenth Avenues at 425 West 50th Street in Manhattan’s Hell’s Kitchen neighborhood, the 1 -story, Ralph Walker condo conversion pro ect has signed contracts for 1 of its 51 residences, with an average price per s uare foot of 2,000. Some of the apartments are under contract for more than ,000 per s uare foot. Prices like this were previously unheard of in this neighborhood, which continues to transform and attract smart, creative buyers, said Michael Stern, managing director of JDS Development roup, co-developer of Walker Tower in Chelsea, also with Property Markets roup, which currently holds the record for the most expensive residential sale ever in downtown Manhattan. Originally designed in 1 27 by preeminent Art Deco architect Ralph Walker and completed in 1 0 for the ew ork Telephone Company, Stella Tower o ers oneto three-bedroom residences range in si e from 1,000 to 2,200 s uare feet, with current asking prices from 1. to

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6.2 million. The penthouses are as large as ,600 s uare feet and are slated to command between 10 and 14 million. The original Art Deco ornamentation, brick fa ade and the building’s iconic crown - removed in the 1 50s are being refabricated and restored. CetraRuddy Architecture D.P.C. is the architect of record. “Like Walker Tower, Stella Tower is poised to be a neighborhood game changer, said Elliott Joseph, a principal of Property Markets roup. Vickey Barron and Michael raves of Douglas Elliman Development Marketing are the exclusive marketing and sales agents. Barron is also sales director at Walker Tower. It’s de a vu all over again, she said, making a parallel between the success in both buildings. Stella Tower features oversi ed tilt-and-turn windows, with ceiling heights ranging from 10 to nearly 14 feet. At 1 stories the residential building soars above its neighbors, o ering dramatic 60-degree views. Select residences also boast replaces and some include private outdoor space. Stella Tower will have a 24-hour attended lobby tness center a resident’s lounge with pantry and bar a bicycle storage room temperature controlled grocery storage and an outdoor garden lounge. For more information, visit stellatower.com.


Richard B. Hodos of CBRE wins the Most Ingenious Retail Deal of the Year Peter Ripka of Ripco Real Estate Corp. takes home the Most Significant Retail Deal of the Year THE REAL ESTATE BOARD OF NEW YORK (REBNY) bestowed top honors for the most creative and signi cant ew ork City retail deals of 201 on June 10th at the annual Retail Deal of the ear Awards. The top two knock-out deals selected from an array of 1 retail transactions were announced at the Retail Committee’s annual cocktail reception held at Club 101. •

The Most Ingenious Retail Deal of the ear that demonstrates exceptional broker acumen (ingenuity creativity) was presented to Richard B. Hodos of CBRE, Inc. for A Marriage Made in (Marketing) Heaven The Polo Ralph Lauren Lease at 711 Fifth Avenue. The Most Signi cant Retail Deal of the ear that recogni es the most signi cant retail deal in its overall characteristics and importance to the ew ork City retail market was awarded to Peter Ripka of Ripco Real Estate Corp. for A C Retail Journey Barneys Comes Home 107 Seventh Avenue.

We congratulate Richard Hodos and Peter Ripka for their tremendous creativity, persistence, and success in negotiating these outstanding deals, said Steven Spinola, REB President. The brokers overcame numerous obstacles with the utmost ingenuity and professional skill to bring even more color to ew ork City’s most prominent retail corridors with these transactions. The competition reached a new high this year and we were thoroughly impressed by all of the submissions received, added Peter Braus, Managing Principal for Lee Associates C and chair of REB ’s Retail Committee. We commend all of the nominees and look forward to a year of even more retail growth and success for 2014. Richard B. Hodos of CBRE, winner of the Most Ingenious Retail Deal of the ear that demonstrates exceptional broker acumen (ingenuity creativity), created a match made in marketing heaven by arranging a ,000-s uare-foot lease on behalf of Ralph Lauren at Coca-Cola’s 711 Fifth Avenue. Prior to the expiration of The Walt Disney Company’s global agship store’s lease for the corner ground oor retail space, a number of potential tenants expressed interest in the space. However, there was a catch Coca-Cola had vested interest

in making the space into a virtual venue for The Coca-Cola Experience. It was also important to Coca-Cola that a new tenant’s brand would be compatible with their own. That’s when Hodos thought of Ralph Lauren, whom he had completed leases for throughout the country. He saw the fashion retailer as both a perfect t in brand alignment and a prime opportunity for Coca-Cola to obtain an income-producing tenant, rather than incurring costs for developing the experience concept and keeping the space for their own use. With a never give up attitude, Hodos overcame many challenges over four years by making the case to the landlord and the tenant, educating both sides on the market and value of the transaction, rising above the competition, and securing the lease with an aggressive o er, which has grown into a global brand alliance that now stretches far beyond ew ork City. The Most Signi cant Retail Deal of the ear, presented to Peter Ripka of Ripco Real Estate Corp., recogni ed his transaction that brought Barneys back to 107 Seventh Avenue as the most signi cant retail deal for its overall characteristics and importance to the ew ork City retail market. The 57,000-s uare-foot Chelsea retail condo had originally been home to Barneys before the high-end department store decamped to Madison Avenue and the space was leased to Loehmann’s. ears later, when Loehmann’s re uested a lease extension, Ripka helped ownership to reali e the property’s full potential and served as a reliable industry source for six years throughout the value o -price retailer’s ups and downs as it continued to pay only half of what the space could be worth. This relationship proved to be invaluable when Ripka was invited to sell the building and procured E uity One as the sole buyer. After securing a Women’s Wear Daily article on the sale of the property, he was contacted by Barneys about its interest in moving back to 107 Seventh Avenue via ewmark rubb Knight Frank Retail. Following several series of negotiations and through steady perseverance, the nine year ourney concluded after Ripka successfully demonstrated the value of the new lease to all parties involved. This transaction provided ownership with greater upside potential, brought Barneys back home to Chelsea, and had a ma or impact on ew ork City’s retail landscape.

INDUSTRY NEWS

REBNY’S TOP RETAIL DEALS BRING GLOBAL BRANDS TOGETHER AND A LUXURY RETAILER BACK HOME

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INDUSTRY NEWS

REBNY ROUNDTABLE: INDUSTRY EXPERTS TALK BIDDING WARS, RENT STABILIZATION & SOCIAL MEDIA Downtown Committee event explores hot residential real estate topics INDUSTRY PROFESSIONALS WERE GIVEN THE INSIDE SCOOP on navigating today’s competitive and tech-savvy real estate market at the Real Estate Board of ew ork’s (REB ) Annual Downtown Roundtable Breakfast Discussion on Friday hosted by the Downtown Committee. Participants spent 20 minutes learning about, discussing, and asking uestions on a topic, before moving to the next table to interact with another expert. From putting together the perfect board package to estate sales and the use of social media, we had a dynamic mix of engaging topics for this year’s roundtable driven by a crop of ew ork City’s top industry specialists, said Richard rossman, Co-Chair of REB ’s Downtown Committee and Executive Vice President Managing Director for Halstead Property, LLC. The discussions gave participants the opportunity to seek advice on the latest trends and challenges in the market, while gathering new perspective from each of the speakers to improve upon their own success, added Concetta Ra , Co-Chair of REB ’s Downtown Committee and Senior Managing Director for CitiHabitats, Inc. Topics and speakers were Competitive Bidding by Richard rossman Preparing Buyers for this Market by Concetta Ra Time Management by Sara Rotter, Executive Director for Halstead Property, LLC sing Social Media to Help Build our Business by Matt Leone, Director of Web Marketing Social Media for Terra Marketing Assignment Assumption of Mortgage by Craig Price, Es ., of Belkin Burden Wenig oldman, LLP Do the Tenants Have to Stay nderstanding Rent Stabili ation by Jamie Heiberger Harrison, Es ., President and Founder for Heiberger Associates, P.C. The Perfect Board Package by Ellen Leon, Senior Managing Director for The Corcoran roup Estate Sales and Various Trusts sed to Ac uire Real Estate by Michael J. Romer, Es ., Partner Founding Member for Romer Debbas LLP. Richard rossman, Executive Vice President and Managing Director for Halstead Property covered the intricacies and process for winning multiple bid situations. He identi ed the most important aspects of competitive bidding transparency, communication with all parties

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involved, management of expectations, asking uestions, thoroughly preparing the buyer seller, and getting written commitment. rossman explained that the agent that is most transparent and responsive, without giving away their clients’ secrets, can e ectuate the most successful multiple bid situation, while maintaining a positive reputation in the industry. Concetta Ra , a Senior Managing Director at CitiHabitats, o ered valuable tips on preparing buyers for today’s market and emphasi ed that the most important part of the preparation process is getting one’s team and tools in place. This allows the broker to consult with buyers and discuss what the process will entail as soon as they express interest in buying, putting them ahead of the competition. Ra also stressed the need for brokers to obtain proof of funds, educate the client, and be as professional and organi ed as possible. Sara Rotter, an Executive Director at Halstead Property, recogni ed time management as the most important skill for brokers to hone and de ned it as the space between an action and its outcome. Rotter listed noise, fear, doubt, and other emotional responses as some of the roadblocks that can get between an idea and an action a reactive behavior that is often what causes people to veer o course. To counter this, she urged attendees to practice more proactive behavior to accomplish their goals with swiftness. Matt Leone, Director of Web Marketing Social Media for Terra Marketing, identi ed the four most important mediums of social media that brokers should maintain and consistently communicate through Facebook, Twitter, LinkedIn, and some form of blogging. He advised brokers to set aside time every day to interact through these platforms that their clients are actively engaged with, noting that this builds trust with existing clients and fosters a good rapport with potential new clients. Leone also covered keys to success for using social media in real estate, such as talking local and becoming a neighborhood expert, sharing personal successes, and being positive and consistent with time commitment. Craig Price, Es . of Belkin Burden Wenig oldman spoke about the di erences between the assignment and the assumption of a mortgage. Complete with a handout of sample scenarios, Price gave an in-depth explanation of


board package. She put particular emphasis on knowing as much as possible about the transaction and the people involved in it, regardless of which side of the transaction you are on. By doing this, she noted that the chances of one being unpleasantly surprised at board package time is signi cantly diminished. Leon also stressed the importance of reading clients’ tax returns, and knowing what their source of income is, especially if they work from home. Michael J. Romer, Es ., Partner Founding Member for Romer Debbas LLP gave attendees an inside look at estate sales and the use of various trusts. He emphasized that a surrogate needs to have an attorney and the owner’s will, letters testamentary, and estate waiver when acquiring real estate. Romer also explained how much estate taxes account for, the di erence between an irrevocable and revocable trust, and how buying into a trust can protect one’s identity.

INDUSTRY NEWS

the bene ts of assigning a mortgage, which can generate a signi cant amount of savings and bene ts for both the buyer and the seller. He also gave advice speci cally relating to ew ork State mortgage laws, which can di er among states in continuing lean deductions, among others. Jamie Heiberger Harrison, Esq., President and Founder of Heiberger & Associates, led a discussion on rent stabilization and how brokers can help an owner or seller to understand the system. She walked participants through a wide range of scenarios on the di erences between a curable and non-curable tenant situation, to how tenant demographics in uence their likelihood to stay within a market-rate building, while urging brokers to make sure that their clients do their due diligence and maintain consistent records. Ellen Leon, a Senior Managing Director at Corcoran roup Real Estate, shared her expertise on how to create the perfect

SHERWOOD EQUITIES TOPS OUT 500 WEST 21ST STREET CONDOMINIUM ALONG THE HIGH LINE 32 Elegant Residences in the Heart of West Chelsea Will Offer Great Views in a Lush Garden Setting DEVELOPER SHERWOOD EQUITIES has topped out its distinctive new condominium development, 500 West 21st Street, situated directly adjacent to the High Line in the heart of West Chelsea. The concrete superstructure was completed yesterday, and exterior wall sections will be erected shortly. Sales started approximately three months ago, and sales activity has been brisk. “The level of interest and enthusiasm for this property has been tremendous, says Sherwood president Je rey Katz, who adds that the residences are slated for completion in Spring 2015. Complementing the park ambience of the High Line, 500 West 21st Street will o er 2 spacious and elegant, one-tofour-bedroom residences set within a lush garden landscape with 40-foot-high

trees and mature foliage. The residences will look out upon the High Line, as well as the two-century-old neo- othic eneral Theological Seminary nearby, and the iconic Manhattan skyline, including the Empire State Building. The design of 500 West 21st Street, which includes distinctive “industrial” features typical of residences built in Paris and London in the early 20th century, is by international architects Kohn Pedersen Fox Associates (KPF), under the direction of Paul Katz. The gardens are the creation of TriBeCa-based Rees Roberts Partners LLC, designed as a response to the proximity of the High Line. Mark e , president of his eponymous interior design rm, designed the building’s interior features, which drew

inspiration from the structure’s exterior and industrial motif. “500 West 21st Street presents an opportunity to own much more than a remarkable living space,” says Mr. Katz. “It encompasses the proximity to the High Line, the excitement of one of Manhattan’s most vibrant communities, and the unobstructed views of iconic landmarks, all of which place these new residences among the most desirable that ew ork City has to o er. Sherwood Equities is a New York City based, privately held real estate investment and development company established in 1952. Long known for its contribution to the development of Times Square, Sherwood has become a major player in the High Line and Hudson Yards area, as well as other parts of Manhattan.

www.sokolmediaonline.com • 7


INDUSTRY NEWS

THE DURST ORGANIZATION AND THE PORT AUTHORITY OF NY & NJ SIGN LEASE WITH AD AGENCY KIDS AT ONE WORLD TRADE CENTER KiDS will be located on 87th floor, highest occupied office space in New York City THE DURST ORGANIZATION has signed KiDS Creative, LLC to a 15-year, 4,775-s uare-foot, full- oor lease on the 7th oor of One World Trade Center. Headed by founder and chief creative director Pascal Dangin, KiDS is an ad agency driven by fearless creativity with a distinctive strategic approach. Counting some of the world’s most in uential brands on its roster, from Balenciaga, Alexander Mc ueen and Alexander Wang, to Lanc me and RCA, KiDS o ers a full range of advertising and brand strategy services. The oor will also occupy the photography and lm departments of Mr. Dangin’s world-renowned post-production house, Box, including a state-of-the-art theatre for private screenings. KiDS and One World Trade Center make a perfect match, said Eric Engelhardt, Director of One World Trade Center Leasing at The Durst Organi ation. KiDS is destined to a bright future at the top of One World Trade Center, the world’s most prestigious business address. KiDS’ 7th- oor setting will be a highly coveted work environment that combines unmatched views with highly exible and adaptive space, he said. The agency’s tower oor tenancy serves as an ideal complement to Cond ast. We expect to sign more leases with companies in the creative, media and tech world. Today’s lease announcement is further proof that One World Trade Center will continue to attract worldclass tenants and serve as a center for obs and commerce in our region, said Port Authority of J Director

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of World Trade Center Redevelopment Erik Horvat. KiDS is about keeping an open mind, breaking free from the past to create something new and exciting, and that’s exactly what One World Trade Center represents, said Mr. Dangin. Pascal Dangin instantly recogni ed the value of 60-degree views witnessed through oor-to-ceiling glass, said Tara Stacom, executive vice chairman of Cushman Wake eld. He knew this extraordinary light would elevate his team’s creative spirit and productivity. KiDS focused exclusively on the 7th oor, among the world’s highest o ce spaces. Mr. Dangin also recogni ed that this internationally recogni ed business address enhances KiDS’ own brand before global customers, she said. KiDS and Cond ast form a critical mass of media and creative energy, and are ideally suited for Downtown’s vibrant, 24 7 community. With the closing of this tower oor transaction, the iconic, .0-millions uare-foot o ce tower is now 56-percent leased. Tower oors occupy the 64th through 0th oors. International publishing giant Cond ast, the property’s anchor tenant, is undertaking interior construction for nearly 1.2 million s uare feet between the 20th and 44th oors. The space will serve as the company’s global head uarters. One World Trade Center will mark its o cial opening toward the end of this year when KiDS and Cond ast begin to move their personnel into the building. China Center ew ork LLC, a division of Vantone Industrial Co., Ltd.,

holds a 202,7 2-s uare-foot lease and will occupy the entire 65th through 6 th oors, as well as a portion of the 64th oor. Other tenants include the .S. eneral Services Administration -- leasing 272, 5 s uare feet between oors 50 through 55 -- and Legends Hospitality roup, which will operate the property’s 75,000-s uare-foot Observatory set to open in 2015. Durst is conducting the building’s global marketing campaign in conunction with Cushman Wake eld, whose leasing team is led by Ms. Stacom and includes Alan Stein, James Searl and Justin Royce, along with Jodi Pulice of JRT Realty. One World Trade Center last year won formal designation as the hemisphere’s tallest building by the Height Committee of the Council on Tall Buildings and rban Habitat, the entity recogni ed as the nal arbiter of global building heights. The building features a comprehensive Marketing Center on the 6 rd oor. This dynamic venue showcases the building’s rst-rate features and amenities, and presents several furnished, built-out vignettes that demonstrate the e ciencies of the property’s column-free space. The Durst Organi ation o ers a pre-built build-to-suit program setting aside a total of 4,000 s uare feet on the 45th and 46th oors for the small space re uirements of companies that recogni e the value of the building’s uni ue stature to enhance their own brand. Suites with high- uality nishes will be available for ovember occupancy in si es ranging from 2,000 to 20,000 s uare feet.


INDUSTRY NEWS

M·A·C COSMETICS TO BEAUTIFY UNION SQUARE AT FEIL’S 853 BROADWAY M·A·C COSMETICS is staking a claim to nion S uare, signing a long-term lease at 853 Broadway, announced The Feil Organization, the building’s owner and manager. The store is expected to open in time for the holiday 2014 shopping season. M·A·C Cosmetics will occupy space on the ground oor, and have a two-level storefront with 25 feet of frontage along 14th Street, giving it tremendous visibility in the expanding retail district, says Brian Feil, Vice President of Leasing for The Feil Organization. “In recent years, Union Square has become a new headquarters for style. Other retailers in the area include Nordstrom Rack, lululemon athletica, an upcoming Reebok Fit Hub and CrossFit gym, and one of the best Whole Foods Markets in the country,” says Feil, who represented the building in the transaction. “M·A·C Cosmetics is a perfect complement to that fashionable shopper.” M A C (Make-up Art Cosmetics), a leading brand of professional cosmetics, was created in Toronto, Canada, in 1984 and is part of The Estée Lauder Companies, Inc. The company’s popularity has grown through a tradition of word-of-mouth endorsements from makeup artists, models, photographers and journalists around the world. M·A·C is now sold in 92 countries/territories worldwide. M·A·C was represented in the lease transaction by RKF’s Robert Cohen and Jackie Totolo. Located at the southwest corner of Broadway and 14th Street, the 157,000-s uare-foot 5 Broadway is in the heart of the rapidly growing retail district in and around Union S uare. Pedestrian tra c totals 50,000 people daily, and nearly 250,000 consumers visit the nearby nion S uare Greenmarket weekly. The Union Square subway station is the fourth busiest in New York City, with more than 34 million riders yearly. A fa ade renovation for the rst ve oors of the 21- oor

o ce building will be completed in July. In addition, Feil is upgrading the rest of the storefront around M·A·C. With a stunning new glass fa ade extending four oors, this will be a standout building in Union Square,” Brian Feil adds. The addition of M A C will make it even more of a landmark in the area.”

ABOUT FEIL The Feil Organi ation is a private, established commercial real estate rm head uartered in ew ork City. A powerful force in real estate for over 60 years, the company owns and operates a nationwide portfolio of over 26 million s uare feet of retail and commercial space, and over 5,000 residential rental units. The Feil Organization also maintains regional o ces in Chicago, ew Orleans, St. Petersburg and on Long Island.

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Photo: Thomas H. Kieren

Where Construction i


W

e’re an honest company,” says Shelby Johnson, CEO of Theodore Williams Construction Company, LLC (TWCC), “We’re very down-to-earth.” And it is perhaps this strong level of trustworthiness that has catapulted her firm into the success it is today, having tripled its volume in 2011.

(left and right) Coates Building Lobby Renovation

Having rst oined TWCC in 1 1 as a pro ect manager, Johnson is now 0 percent owner, and credits her success to making sure all of the work not only always got done well, but on time. By the end of my rst two years in the industry, I was doing my boss’s ob, she says. But that’s not the only reason. The rm, launched in 1 72, was a general contractor that took on only smaller pro ects. Johnson, however, was accustomed to running much larger pro ects during her tenure with ICO Construction. I therefore applied what I learned at ICO and transformed TWCC into one that could handle the large pro ects, Johnson says. I was able to put together the right kind of team to handle any si e pro ect. Her success in recon guring the company enabled Johnson to rise to Vice-President in 1 4, President in 2000, and then ma ority owner of the rm in 2001.

Photo Thomas H. Kieren

Photo Thomas H. Kieren

n is ‘Down-To-Earth’ “

www.sokolmediaonline.com • 11


Smith Barney Executive Suite

Smith Barney Grande Staircase

Executive Boardroom


Key Goals 1

To provide competitive prices to our clients without compromising quality.

2

To cater to our client’s needs, no matter how minute, and to be available at all times in providing superior service by our professional staff.

3

To explicitly follow the Architects’/Engineers’ instructions and plans to ensure the integrity of each project.

4

To maintain the highest standards in the industry and efficiently manage even the most intricate and complex projects.

5

To promote an open and fair bidding practice within the construction industry.

Her ascension in the rm, however, was built upon a foundation that began long before that. Her father was an electrician, and her brother an electrical engineer, so Johnson believed she could easily enter the eld as well. She rst applied to college at The Citadel, never reali ing that being a woman could be a barrier. If I don’t expect there should be a problem doing something that hasn’t been done before, people respond to that, and then there usually isn’t any, she says. Johnson didn’t end up going to The Citadel, but chose Texas Tech niversity instead, where she earned a Bachelor of Science in Construction Engineering Technology. Since then, Johnson has been bestowed with Texas Tech’s highest honor, Distinguished Engineer’ (200 ), and sits on its Dean’s Council. I am one of only a few women who has ever received that award, Johnson comments. She also values those formative years, and therefore appreciates the importance of mentoring others who are considering entering the construction eld. As such, Johnson mentors high school and college students, providing them

with everything from a full week interning at her company, Which is paid, she adds. She also participates in the Port Authority’s mentor prot g program so that all subcontractors, no matter how new, or how small, are given the same opportunities. And, when called in to speak to women in other construction companies, she readily imparts the strategies that have helped her achieve success in what she deems a man’s world’. I tell them that women should not go into construction looking to change the rules. This is still primarily a man’s business, she says. Instead, women need to approach the industry without the feeling of being di erent due to their gender. By feeling neutral, and treating men in a neutral manner coupled with respect, the issue of gender simply goes away, she says. All of these ualities have contributed to paving the way for Johnson to become one of only a handful of successful women who occupy leadership roles in the construction industry, which is further exempli ed by the array of notable www.sokolmediaonline.com • 13


The Blackstone Group L.P. Conference Room

RECENT PROJECT COMPLETIONS

PARTIAL CLIENT LIST

345 PARK AVENUE (More than 32,000 square feet of prestigious commercial/ executive office space)

Alfred P. Sloan Foundation Bayern Landesbank The Blackstone Group L.P. Bristol Myers Squibb Company Bulgari Corporation of America Citigroup Global Markets Estee Lauder, Inc. Jaros, Baum & Bolles Jack Resnick & Sons, Inc. Regus Reuters of America Rodney Corporation Rudin Management Company, Inc. Tishman Speyer L.P.

450 LEXINGTON AVENUE (Buildout of 27,000 square feet of high-end commercial/ executive offices) 31 WEST 52ND STREET (Construction of 45,000 square feet of hi-end commercial/ executive offices) 590 MADISON AVENUE (Build-out of 30,000 square feet of high-end commercial/ executive offices)

The Blackstone Group L.P. Conference Room

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pro ects the rm has completed. Its successful clientele has included everyone from Rudin Management Company, Inc. and Bristol Myers S uibb, to Citigroup lobal Markets, and Reuters of America, ust to name a few. And today, as a growing woman-ma ority-owned business, TWCC takes great pride in a ording women and minority owned companies the opportunity to service TWCC’s business needs. We give all uali ed contractors a shot at our business, particularly those that are W MBE certi ed, since I believe it is the right thing to do, Johnson says. By all of us working together, she says, We can establish strong business relationships and promote a stimulating working environment. It comes as no surprise, therefore, that 0 of TWCC’s new pro ects come from previous clients, and why Shelby Johnson was named a nalist in the Ernst oung Entrepreneur Of The ear 2012 program in the ew ork region. This award, which recogni es outstanding entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, nancial performance and personal commitment to their businesses and communities, re ects the standards of uality and e ciency that the entire rm exudes. This is our primary focus, she says. Every decision can’t solely be based upon pro t. uality and integrity are e ually important to us.


PORT RICHMOND architectural metal & glass

Congratulations Shelby on this prestigious award ! George d. wade President 1288 Forest avenue Staten Island, ny 10302 718-720-1616


We Are Pleased to Honor

Shelby Johnson a TOP Woman in Design & Construction GODSELL CONSTRUCTION CORP.

DRYWALL * ACOUSTICAL CEILINGS * RELATED CARPENTRY 351 Duffy Avenue Hicksville, NY 11801 516-939-0280 www.godsellcc.com

Philip Kaplan Glass and Mirror, LLC Congratulates

SHELBY JOHNSON on her selection as a

TOP Woman in Design & Construction

Philip Kaplan Glass and Mirror, LLC

288 Hamilton Avenue • Brooklyn, NY 11231 Office # (212) 269-0031 • Fax # (212) 406-4603 pk.glassllc@verizon.net


DISTRICTS FOR DESIGNERS

FAITH’S FASHION FOCUS:

Heaven in the

Hamptons B

et you thought summer would never come! Even I, the eternal optimist, had doubts. But it’s here, and it’s time to get thee to the Hamptons, our own local summer resort. And a number of retailers and eateries, new and old, also are spending their summers by the sea.

ABOUT THE HAMPTONS Of course, “The Hamptons” include a number of towns and villages, some of which are divisions of each other. The town of Southampton 18 hamlets and 7 incorporated villages and distinct shopping and dining districts. The Town of East Hampton, literally to the east of Southampton, has almost 70 miles of waterfront on three sides (the Atlantic

Ocean to the east and south, and Gardiner’s Bay to the north), and includes Montauk, Amagansett and Wainscott. An interesting development in the last year or so is the growing interest just a bit west of the traditional divider of The Hamptons the Shinnecock Canal. More homeowners are buying in areas including Hampton Bays and uo ue so expect retail to ourish there in years to come.

By Faith Hope Consolo Chairman, Retail Leasing and Sales Division Prudential Douglas Elliman

www.sokolmediaonline.com • 17


SHOP THE HAMPTONS Southampton has two main shopping streets (Main Street and Jobs Lane), with retailers nding new locations each season. C. Wonder has opened at 5 Main Street (as well as 4 Main Street in East Hampton). Bandier o ers luxury workout apparel, music and even a Bra Bar at 44B. Lexington Clothing Co. has a new concept store at 46 Main. Stock up on more beach items at Lisa Perry at 67 Main. Soludos opened an in-shop bouti ue at 1 Main Street. Find a huge Theory store at -100 Main Street. Gone Local’s home goods have relocated from Amagansett to 0 orth Main Street. On Jobs Lane, Cruciani D’s outpost (2 D) has accessories and ewelry. Find sportswear and beachwear from Maui at Letarte, newly arrived at 60B Jobs Lane. Dash comes from the Kardashian family to 64 Jobs Lane. East Hampton, too, has a couple of main retail areas, with a number of newcomers this summer. ewtown Lane boasts Orlebar Brown’s designer swimwear and resort apparel at 2 . Zimmermann’s Australian take at beachwear has come to 27 ewtown Lane. Kate Spade’s newest shop is at 17 ewtown Lane. Theory is at 45 ewtown Lane. La Perla’s ne lingerie is back in town at 66 ewtown Lane. West/Out East spotlights West Chin’s collection of home furnishings at accessories at 25 ewtown Lane. Take an online spinning class at home with a bike from Peloton, 5 Main Street. JANGEORGe expands from Sag Harbor to a home furnishings showroom at 55 Main Street. White’s Apothecary 18 • www.sokolmediaonline.com

at 1 Main now has estheticians. Elsewhere, Pink Chicken is moving to 156 Main Street in Amagansett. Keep in shape at Barry’s Bootcamp, new at 1 Main Street in Amagansett. SurfPanda has come to 760 Montauk Highway in Water Mill, sharing the address with a new West Elm branch. atural fragrance company LURK is opening its rst retail store at 2 West Water Street, Sag Harbor. Samantha Drew Interiors has an extraordinary amount of home furnishings at its showroom at Main Street, Westhampton Beach. Blow Hampton brings the blowout bar phenomenon east at 2462 Main Street in Bridgehampton. ew or coming soon to Tanger Factory Outlets in Riverhead on the way to the Hamptons Hartstrings, Vineyard Vines, Gadgets & Gizmos, and The Body Shop.

DINE AT THE HAMPTONS The brand-new Katana Restaurant and Bar (11 Stearms Point Road, Shelter Island Heights) Thai and Indonesian cuisine, and a sushi bar. Georgica returns with a new menu focused on local seafood at 1 Wainscott Stone Road, East Hampton. Also boasting a new menu is Sienna at 44 Three Mile Harbor Road in East Hampton. Bay Kitchen Bar comes from Eric Mill to ann Road in East Hampton. ightclub 1 Oak expands from ew ork City, Los Angeles and Las Vegas to 125 Tuckahoe Lane in Southampton. Longer term, the pper East Side’s Le Charlot will open a year-round restaurant at 6 Main Street.

The Harbor Raw Bar & Lounge is new to Montauk at 44 West Lake Drive. Cyril’s Fish House (Montauk) has opened at 2167 Montauk Highway in Montauk. Craving Chinese Try the new Red Stixs at 1020 Montauk Highway, Water Mill. Naturally Good Foods & Café o ers breakfast, lunch and dinner at 77 Main Street in Montauk. Down the road, visit Westlake Fish House at 52 West Lake Drive Harlow East comes from Richie otar with fresh sh and local produce at Long Wharf in Sag Harbor. Or look for Italian food at Doppio East, 126 Main Street I Sag Harbor.

STAY AT THE HAMPTONS Book early for a taste of history at the 1708 House (126 Main Street, Southampton), which really does date from 170 Even older, despite its name is the 1770 House at 14 Main Street in East Hampton, which was a private home when it was built in 166 . The Maidstone (207 Main Street, Southampton) is comparatively brand new, dating from 1 40. Families should head to Hartman’s Briney Breezes Motel (6 Old Montauk Highway, Montauk, ) or the pet-friendly Maison Blanche (11 Stearns Point, Shelter Island). The Montauk Yacht Club ( 2 Star Island Road, Montauk), Southampton Inn ( 1 Hill Street, Water Mill) and Surf Lodge (1 South Edgemere Street, Montauk) remain classic. And always, always consider a stay at Gurney’s Inn Resort and Spa, 2 0 Old Montauk Highway in Montauk. Happy Summer and Happy Shopping


Congratulations Shelby Johnson

MASONRY • PLASTER • FIREPROOFING • CONCRETE

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130 W. 29th Street, Suite 3F, New York, NY, 10001 TEL: (212) 868-5500 www.premierelectric.us


Calendar of Events

JUNE-SEPTEMBER 2014 JUNE

AUGUST

Sunday, June 22-Tuesday, June 24, 2014

Thursday, August 7, 2014

BOMA International Every Building Conference & Expo 12:00 AM Orlando, FL The most comprehensive education conference in the industry. Expert-led sessions offer the opportunity to increase knowledge, build skills and earn continuing professional development credits while addressing the topics and issues that are vital to your success.

Lessons Learned - Boston Marathon Bombing 8:00 a.m. Registration & Breakfast; 8:30 - 10:30 a.m. Program Club 101, 101 Park Avenue at 40th Street There is something for all of us to learn at our August 7th seminar tailored specifically for commercial real estate using real life examples from our colleagues in the Boston area. Look for more details soon on this opportunity to learn critical skills for the new security paradigm.

Friday, June 27, 2014 AREW - NYCREW Joint Event 8:00 – 9:30 a.m. Visit www.arew.org for more information

July Thursday, July 10, 2014 CREW Coffee 8:00 am - 9:30 am

September Wednesday, September 30-Friday, October 3, 2014 2014 CREW Network Convention & Marketplace 8:00AM Loews Miami Beach Hotel

Saturday, July 12, 2014 Midtown Manhattan: Modernism Evolving - Crosstown Section: 53rd St. East to West 10:30 AM - 1:00 PM View a variety of classic Modern, late Modern and Postmodern designs by SOM, Philip Johnson, Edward Larrabee Barnes, Eero Saarinen, Kevin Roche, Kohn Pederson Fox and others. Highlights include Lever House, the Seagram Building, Citicorp Center, the CBS Building, and the Museum of Modern Art’s multi-building complex. Smaller gems like the former American Folk Art Museum, the Austrian Cultural Institute and Paley Park are also included.

Congratulations Shelby Johnson

Wednesday, July 16, 2014 Leading Ladies in Real Estate: Breakfast Series 8:30 am - 10:00 am Akerman Senterfitt, 666 5th Avenue, 20th Floor

Wednesday, July 23, 2014 See New York City’s Financial District Like You’ve Never Seen it Before 4:00 pm - 7:00 pm Atrium of the Deutsche Bank Building at 60 Wall Street (in front of Starbucks)

Techno Acoustics Holdings LLC 5885 57th Street Maspeth, NY 11378

Tel 718-784-3730 www.technoacoustics.com

www.sokolmediaonline.com • 21


NATIONAL INTERIORS INC.

Congratulations to

Shelby Johnson

LARSEN-RUGGIERO MECHANICAL CORP. 12 Cross Street Staten Island, NY 10304 212-925-7501

145 PALISADE STREET DOBBS FERRY, NY 10522

Tel: (914) 478-9200 Fax: (914) 478-9199

www.nationalinteriorsinc.com

Congratulations To This Year’s Top Woman in Design & Construction Honoree

Shelby Johnson

ADCO Electrical Corporation is a full-service Electrical and Telecommunications services firm providing a range of solutions designed to assist our clients in today’s rapidly changing environment.

Congratulations Shelby Johnson Top Woman in Design & Construction 2014

Main Office: Scholes Electric Elmsford Office: 12 Hunter Lane 201 Edward Curry Ave & Communications Elmsford, NY 10523 Staten Island, NY 10314 1021 Centennial Ave T. 718.494.4400 Piscataway, NJ 08854 T. 914.347.0005 F. 718.494.2947 T. 732.562.1900 F. 914.347.0009 F. 732.562.0900

CONTRACTORS


MNS Brooklyn Rental Market Report April 2014 Brooklyn Rental Market Report April 2014

A QUICK LOOK Overall rents increased slightly compared to last month, rising 1.09% from $2,635 in March to $2,664 in April. This marks the first month since January that overall rental pricing in Brooklyn changed more than one percent. It can be expected that incoming rental inventory throughout Brooklyn in the coming months will have an upward effect on pricing Most notably, average rent prices jumped up 9.43% from this time last year from $2,434,27 to $2,663.93.This is due to a growing demand and supply of luxury Studio and One-Bedroom units in neighborhoods like Bedford-Stuyvesant and Boerum Hill. Pricing for studios increased 45.40% in BedfordStuyvesant and 59.23% in Boerum Hill since the previous year.As new developments continue to be built in Brooklyn neighborhoods, we can expect to continue to see a steady rise in price for these types of units. Bedford-Stuyvesant again saw the highest increase in pricing this month relative to the rest of Brooklyn. Each unit type pricing increased: Studio units in Bedford-Stuyvesant increased 21.6%, One-Bedroom units increased 5.2%, and Two-Bedroom units increased 6.0% since April of last year. The increase in studios is due to four new units on the market off of Greene, Franklin, Park, and Marcus Garvey Boulevard. Now that spring rental season has officially begun, we can expect to see a high influx and turnover of these types of units in Brooklyn.

Notable Trends Building (Average Prices) Type

Most Expensive

Least Expensive

Studios

DUMBO 2,758

PLG $1,308

One-Bedrooms

DUMBO $4,160

Bay Ridge $1,525

Two-Bedrooms

DUMBO $5,239

Bay Ridge $2,014

$

MNS Brooklyn Rental Market Report April 2014 page 4

www.sokolmediaonline.com • 23

Gramercy Park I Chelsea I Williamsburg

mns.com


MNS Brooklyn Rental Market Report April 2014 Brooklyn Rental Market Report April 2014

A QUICK LOOK Year Over Year Price Change By Neighborhood

> 10% Change 5.5% - 10% Change 4.0% - 5.4% Change < 4.0% Change

3.3% Greenpoint Clinton Hill Fort Greene

3.2%

Williamsburg

Downtown Brooklyn DUMBO

1.1%

Brooklyn Heights

3.0%

Cobble Hill

9.0%

8.0%

Bushwick

N/A 4.8% 10.3%

3.5%

21.1%

Bed-Stuy

Boerum Hill 2.1% Park Slope

10.3%

Crown Heights 2.7%

Prospect Lefferts Gardens

10.5% Bay Ridge

Brooklyn Rents: April 2013 vs. April 2014 Type

April 2013

Studios

$

One-Bedrooms

$

Two-Bedrooms

$

April 2014

1,863

$

2,406

$

3,190

$

24 â&#x20AC;˘ www.sokolmediaonline.com Gramercy Park I Chelsea I Williamsburg

Change

2,129

14.3%

2,566

6.6%

3,297

3.3%

MNS Brooklyn Rental Market Report April 2014 page 8

mns.com


MNS Brooklyn Rental Market Report April 2014 Brooklyn Rental Market Report April 2014

BROOKLYN PRICE TRENDS Studio Price Trends Over 13 Months

2,200 2,025 1,850 1,675 1,500

Apr 1,863

May 1,879

Jun 1,894

Jul 1,917

Aug 1,980

Sep 2,010

Oct 2,082

Nov 2,061

Dec 2,041

Jan 2,069

Feb 2,030

Mar 2,030

Apr 2,129

Aug 2,501

Sep 2,528

Oct 2,574

Nov 2,485

Dec 2,469

Jan 2,515

Feb 2,527

Mar 2,544

Apr 2,566

Aug 3,316

Sep 3,410

Oct 3,439

Nov 3,304

Dec 3,237

Jan 3,267

Feb 3,335

Mar 3,331

Apr 3,297

One-Bedroom Price Trends Over 13 Months

2,600 2,463 2,325 2,188 2,050

Apr 2,406

May 2,438

Jun 2,420

Jul 2,456

Two-Bedroom Price Trends Over 13 Months

3,600 3,425 3,250 3,075 2,900

Apr 3,190

May 3,192

Jun 3,251

Jul 3,320

MNS

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MNS Manhattan Rental Market Report April 2014

Manhattan Rental Market Report April 2014

A QUICK LOOK Rent prices in Manhattan rose by approximately 1% from $3,806 in March to $3,842 in April. Similarly, rent prices in Manhattan increased only 1.1% compared to April of 2013 from $3,800. Listing inventory increased 15% compared to last month from 6,696 to 7,676. This reflects an increase in marketing units in preparation for the anticipated increase in spring seasonal move-ins. We can expect to continue to see a high number of units coming to market and high turnover of these units over the next two months. Additionally, the ratio of Non-Doorman units to Doorman units rose slightly from the previous month as the percentage of NonDoorman units increased from 37.7% to 44.1% and the percentage of Doorman units fell from 62.3% to 55.9%. The largest upswing since the previous month and since April of 2013 was seen in Harlem. Overall rents jumped 7.4% from $2,353 in March to $2,528 in April and rose 13.9% from $2,220 in April of last year to $2,528 this year. All unit types, except Non-Doorman Studios, increased in price this month. Most notably Doorman One-Bedrooms jumped 14.6% to $2,967, the fourth consecutive month prices rose for this unit type. This upwards trend is most likely due to an increasing number of new development units with doorman amenities located upwards of 110th Street. As the NYC real estate market rebounds, Manhattan rent prices will continue to increase and current tenants will look towards the outer neighborhoods for lower rents. The largest increase in listing inventory was in Upper East Side where 747 new units came to market, an 86.4% increase in inventory from last month. These new units were probably listed in preparation for the spring seasonal increase in demand.

page 4

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MNS Manhattan Rental Market Report April 2014

Manhattan Rental Market Report April 2014

A QUICK LOOK Notable Trends: Manhattan Highs and Lows (Average Prices)

Type

Most Expensive

Least Expensive

Non-Doorman Studios

TriBeCa $4,350

Harlem $1,506

Non-Doorman One Bedrooms

TriBeCa $6,325

Harlem $1,942

Non-Doorman Two Bedrooms

TriBeCa $7,130

Harlem $2,590

Type

Most Expensive

Least Expensive

Doorman Studios

TriBeCa $3,668

Harlem $2,276

Doorman One Bedrooms

SoHo $5,316

Harlem $2,967

Doorman Two Bedrooms

SoHo $8,911

Harlem $3,888

Where Prices Decreased (monthly)

Battery Park City Doorman One-Bedroom -3.0%

Harlem Non-Doorman Studios -6.2%

Chelsea Non-Doorman Two-Bedroom -0.2%

Lower East Side Doorman Studios -9.0% Doorman One-Bedroom -10.5% Non-Doorman Studios -2.1%

East Village Doorman One-Bedroom -2.3% Financial District Non-Doorman One-Bedroom -2.5% Doorman Studios -1.5% Gramercy Non-Doorman Two-Bedroom -1.3% Doorman Two-Bedroom -1.8% Non-Doorman One-Bedroom -3.7% Doorman Studios -3.4% Greenwich Village Doorman Studios -3.1% Doorman One-Bedroom -0.7%

Midtown East Non-Doorman One-Bedroom -4.4% Non-Doorman Two-Bedroom -3.0% Midtown West Doorman One-Bedroom -2.9% Non-Doorman Two-Bedroom -3.0% Murray Hill Non-Doorman One-Bedroom -12.1% Non-Doorman Two-Bedroom -2.3% Doorman Studios -9.8% Doorman One-Bedroom -2.6%

SoHo Non-Doorman Studios -2.6% Non-Doorman One-Bedroom -1.2% Doorman One-Bedroom -1.5% Tribeca Non-Doorman Two-Bedroom -1.3% Upper East Side Doorman Two-Bedroomb-2.4% Non-Doorman Studiosb-7.0% Non-Doorman One-Bedroom -5.0% Non-Doorman Two-Bedroom -6.7% Upper West Side Doorman Studios -0.3% Non-Doorman Studios -4.0% Non-Doorman One-Bedroom -2.3% Non-Doorman Two-Bedroom -1.2% Doorman One-Bedroom -0.4%

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MNS Manhattan Rental Market Report April 2014 Manhattan Rental Market Report April 2014

A QUICK LOOK Where Prices Increased (monthly)

Battery Park City Doorman Studios 1.3% Doorman Two-Bedroom 0.3%

Gramercy Non-Doorman Studios 4.2% Doorman One-Bedroom 5.8%

Chelsea Non-Doorman Studios 2.8% Doorman One-Bedroom 3.0% Doorman Studios 3.3% Doorman Two-Bedroom 1.0% Non-Doorman One-Bedroom 2.4%

Greenwich Village Non-Doorman Studios 4.8% Non-Doorman Two-Bedroom 12.1% Doorman Two-Bedroom 1.7% Non-Doorman One-Bedroom 1.3%

East Village Non-Doorman Two-Bedroom 0.3% Doorman Studios 0.8% Non-Doorman Studios 4.7% Non-Doorman One-Bedroom 0.0% Doorman Two-Bedroom 11.3% Financial District Non-Doorman Studios 1.5% Doorman One-Bedroom 1.1% Doorman Two-Bedroom 1.9% Non-Doorman Two-Bedroom 0.6%

Harlem Non-Doorman Two-Bedroom 4.2% Doorman Studios 14.8% Doorman One-Bedroom 14.6% Doorman Two-Bedroom 8.5% Non-Doorman One-Bedroom 3.9% Lower East Side Non-Doorman One-Bedroom 3.6% Non-Doorman Two-Bedroom 2.5% Doorman Two-Bedroom 13.9% Midtown East Non-Doorman Studios 3.4% Doorman Studios 2.4% Doorman Two-Bedroom 6.7% Doorman One-Bedroom 2.6%

Midtown West Non-Doorman Studios 0.0% Doorman Studios 4.0% Doorman Two-Bedroom 0.4% Non-Doorman One-Bedroom 1.1% Murray Hill Non-Doorman Studios 5.2% Doorman Two-Bedroom 0.6% SoHo Doorman Two-Bedroom 0.7% Non-Doorman Two-Bedroom 0.8% Doorman Studios 2.2% Tribeca Non-Doorman Studios 2.4% Non-Doorman One-Bedroom 10.6% Doorman One-Bedroom 1.4% Doorman Two-Bedroom 4.2% Doorman Studios 11.8% Upper East Side Doorman Studios 1.6% Doorman One-Bedroom 3.7% Upper West Side Doorman Two-Bedroom 3.7%

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MNS Manhattan Rental Market Report April 2014 Manhattan Rental Market Report April 2014

A QUICK LOOK Year Over Year Price Change By Neighborhood

> 4.0% Change 13.9%

Harlem

1.6% - 3.9% Change 0.5% - 1.5% Change < 0.4% Change

Upper West Side W

Centra rall Park

2.0%

Midtown West W

Upper East Side

-2.5%

-5.4%

-0.8%-

Midtown East

2.9% Chelsea

-0.4%

3.2%

Gramercy Park 6.5%

2.8%

Greenwich Village SoHo

Murray ay Hill

-2.2% 0.9%

Battery Park City Batt

Lower East Side

-3.4%

TriBeCa

8.1% Financial District

East Village V

4.0%

2.9%

Financial District

Year Over Year Price Change Manhattan Rents: April 2013 vs. April 2014 Type

April 2013

April 2014

Non-Doorman Studios

$

Non-Doorman One Bedrooms

$

Non-Doorman Two Bedrooms

$

Type

April 2013

April 2014

Doorman Studios

$

Doorman One Bedrooms

$

Doorman Two Bedrooms

$

2,395

$

3,138

$

4,382

$

Change

2,481

3.6%

3,216

2.5%

4,215

3.8%

2,797

$

3,915

$

6,029

$

Change

2,889

3.3%

4,009

2.4%

6,062

0.6% page 10 www.sokolmediaonline.com â&#x20AC;˘ 29

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