Studley represented United Synagogue in the acquisition of 820Second Ave. and in the sale of 155 Fifth Ave., procuring the buyer,155 Fifth Ave. LLC, an affiliate of Philips International HoldingCorp. The owner of the new headquarters, also a Philips affiliate,Second 820 Owner LLC, was represented by Newmark Knight Frank inthe sale of the two floors. Senior managing director of StudleyMarc Shapses, EVP Ira Schuman, and executive managing director KurtHandschumacher juggled a number of options for theorganization.
155 Fifth Ave. had been acquired 30 years ago and neededupdating and renovation. United Synagogue had to decide if itshould stay put and invest in costly renovations and then lease outthe ground floors; sell the property and lease new office space; orsell the property and buy new space. "Ultimately, we determinedthat the most economically viable solution was for United Synagogueto acquire the 25,300-sf, two-floor office condominium at 820Second Ave., a 19-story building situated at the intersection ofEast 44th Street," Shapses says.
The move is planned for the early 2008. "Although the condospace on floors 10 and 11 at 820 Second Ave. is slightly smallerthan its former office on Fifth Avenue, the space itself is muchmore efficient and therefore can accommodate the organization'sexisting headcount, as well as provide room for some futuregrowth," Schuman notes.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
