NEW YORK CITY-A building sale that overcame a variety of mortgage and litigation complexities took top honors in the Real Estate Board of New York’s annual Most Ingenious Deal of the Year awards Monday night. The first-place Henry Hart Rice Award, was presented to David L. Noonan and Jennifer Schwartzman of Newmark Knight Frank for their work on the sale of 31 W. 15th St., a 42,340-square-foot property that had been on the market for four years.
Schwarzman and Noonan’s colleagues at Newmark Knight Frank came in second, receiving the Robert T. Lawrence Award. A Newmark Knight Frank team of Robert Eisenberg, Barry Gosin and Mark Weiss negotiated a 247,433-square-foot lease with a purchase option at 620 Ave. of the Americas for SEIU-32BJ. The deal they structured will save New York City’s largest private labor union more than $15 million per year, according to REBNY.
The third place award went to the investment sales duo of Darcy Stacom and William Shanahan at CB Richard Ellis, who negotiated the sale of leasehold development rights at 250 E. 57th St. and the creation of a public/private partnership to build three new public schools totaling 320,000 square feet, 115,000 square feet of retail space and 485,000 square feet of residential apartments. The deal took more than five years to complete.
“Each year the circumstances of negotiating these deals seem to become more intricate and challenging,” REBNY president Steven Spinola says in a release. Massey Knakal Realty Services chairman Robert Knakal officiated at Monday evening’s awards ceremony, during the annual cocktail reception of REBNY’s Commercial Sales Brokers Committee at Club 101. The award recipients were selected from a field of 13 sale, lease and finance transactions.
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