Volume 18 • Issue 16 | September 09 - 15, 2005

UnderCover


Carey energy
Tim Carey, president and C.E.O. of the Battery Park City Authority, is leaving his post. The Pataki appointee is giving up the city and state agency that oversees Battery Park City for a new gig at the New York State Power Authority where he will take on the job of C.O.O. He is currently a Power Authority board member.

Carey is most recognized for implementing the neighborhood’s strict environmental guidelines for new buildings. The Solaire New York State’s first (and only) LEED Certified Gold building, was developed under his charge.

All eyes are on the authority’s current C.O.O., James Cavanaugh, to fill Carey’s post, said Leticia Remauro, an authority spokesperson.


New stage for Actors Studio
“Inside the Actors Studio,” the James Lipton-hosted movie-geek favorite, has found a new home, Pace University. The Bravo program was tossed out of its longtime home, The New School, by president Bob Kerrey earlier this year. Known for its lengthy interviews with actors about the “method,” the show’s 12th season will air from Pace’s Michael Schimmel Center for the Arts, with Pace students peopling the audience. Taping begins this fall.


Broad sale
The residents of 25 Broad St., a luxury conversion in the Financial District, have a new landlord, Swig Equities. The firm, one of the Downtown’s largest commercial landlords, announced the deal on Wednesday, but has remained mum about whether the building will be converted to condos.

Real Estate mogul Bruce Menin—husband of Community Board 1 chairperson and Wall Street Rising founder Julie Menin—was one of the principal owners of the 21-story former office building, known as The Exchange. The Menins rent a penthouse apartment in the building, and Julie Menin told UnderCover in May that her family had no plans to relocate.

Bruce Menin and his Florida-based partners Russell Galbut and Sonny Kahn converted the 1901 building to a 346-unit rental property in 1997.

The team likely turned a hefty profit on the sale. They purchased 25 Broad St. in 1994 with Hirschfeld Realty for a modest $5 million and quickly bought out Hirschfeld’s interest. Menin et al then sunk about $55 million into a Costas Kondylis-revamped interior.

Although Swig’s chief, Kent Swig, did not disclose the purchase price, the New York Post reported in May that the building could vet “well north of $200 million” for the sale.


Pizer unpacking
Jason Pizer just couldn’t stay away from Downtown. The real estate agent is heading back to his old haunts, Trinity Real Estate, after less than a year away. Pizer briefly fled Trinity last November so he could work on W & M’s Westchester and Fairfield suburban portfolios. The prospect of “a shorter commute” and “a new challenge” lured him away, he told UnderCover.

Last Monday, Pizer reclaimed his original job title — director of commercial real estate leasing — but with a new boss: the former Downtown Alliance maverick Carl Weisbrod, who jumped ship for Trinity this summer. “The opportunity to work with Carl Weisbrod was one that I couldn’t turn down,” he gushed.

His Hudson Sq. return has so far been smooth sailing, he said. “When you come back to a place after such a short hiatus you can really hit the ground running.”


Twins of Hudson Sq.
Trinity is on a roll. The real estate firm lured Bob and Harvey Weinstein’s new movie company to Hudson Square. “That’s very exciting for us to get a tenant of that ilk in our portfolio,” said Trinity’s Jason Pizer. At 345 Hudson Sq. the Twins of Tribeca will not be far from Tribeca Film Studio’s home at the Robert De Niro-owned 375 Greenwich St. The new film company—tentatively called the Weinstein Company—officially emancipates from Disney-owned Miramax on Oct. 1.


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