One of Merchants National Properties more notable assets is the Cross County Shopping Center in Yonkers.

NEW YORK CITY—Merchants' National Properties has named Craig Deitelzweig, a former managing director with Building and Land Technology of Stamford, CT, as its new president and CEO.

Deitelzweig, who also has 20 years experience in commercial real estate, joined the company officially last Thursday, the New York City-based real estate investment firm states. He replaced Claude Chandonnet, who resigned in early November as CEO of the company as well as its wholly-owned subsidiary Marx Realty & Improvement Co., Inc. Chandonnet had been CEO of MNP since 2007 and helped oversee the redevelopment and expansion of many assets within MNP's portfolio, including the major redevelopment of its 1.1-million-square-foot Cross County Shopping Center in Yonkers.

MNP chairman, Jamie Better says of Deitelzweig's hire, “Craig brings a wealth of experience in asset management, leasing, and redevelopment across all classes of real estate and we are excited to have him lead MNP in the next phase of our repositioning and growth.”

Deitelzweig served as a managing director and head of asset management overseeing a diverse portfolio of office, multifamily and hotel assets across the United States for Building and Land Technology. Previously, he oversaw the office division of Rockrose Development Corp., and earlier led the leasing and asset management activities of the Ruben Company's 4 million square feet of retail and office space in New York, Washington, DC and Boston. Deitelzweig is also an attorney having worked in the real estate group at Skadden Arps.

Between November and last week, the company's operations were led by the Office of the Chairman composed of Better, Jagdish Shah, the company's chief financial officer, and John Usdan, an MNP Board member and president and CEO of Midwood Investment and Development of New York City.

Merchants' National Properties, founded in 1928, owns interests in 48 properties in 16 states. Among some of its major holding include the Cross County Shopping Center in Yonkers, 545 Madison Ave., 201 East 57th St. and 708 Third Ave., where the firm maintains its corporate headquarters.

NEW YORK CITY—Merchants' National Properties has named Craig Deitelzweig, a former managing director with Building and Land Technology of Stamford, CT, as its new president and CEO.

Instant Insights /

BLT's Deitelzweig Takes Over as CEO of Merchants' National Properties

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