Wentworth, of course, was a co-founder with Stan Gale of Gale & Wentworth, now the Gale Co. He left the firm in 1999 to assume the role of president of YankeeNets, the holding company for the New York Yankees, the New Jersey Nets and Devils, and the YES cable sports network. With the pending sale of the Nets, possible sale of the Devils and likely dissolution of the YankeeNets as it is currently constituted, Wentworth has returned to his real estate roots. He remains a shareholder in the sports organization.
Welsh, as well, came from the Gale & Wentworth organization, where he was director of acquisitions. Before co-founding Normandy Real Estate Partners, he also had a stint as vice president of Morgan Stanley Real Estate Fund.
Since its founding, Normandy has acquired a reported $250 million of real estate assets, including the 35-story 1370 Avenue of the Americas in Manhattan. And late last week, the company closed on 305 Madison Ave. in Morristown, paying Newkirk Crostex $36.5 million for the 202,000-sf office building, which serves as the HQ for insurance broker Crum & Forster (see earlier story).
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