Halstead Goes Commercial

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According to the New York Observer, “Residential brokerage powerhouse Halstead Property announced today it has launched an investment sales division to broker commercial real estate deals. The division will be headed by John D. Goldman as managing director and will be headquartered at 770 Lexington Avenue. Goldman comes from Murray Hill Properties, where, according to a Halstead release, he sold over $100 million in Manhattan buildings and development sites. It’s not the most auspicious time to be delving into investment sales: 2008, because of the Wall Street collapse and the tighter credit markets, is shaping up to be a comparatively paltry year for Manhattan investment sales. Still, opportunities abound, especially in the mid-range market.” Here’s the actual press release:

HALSTEAD PROPERTY MAKES COMMERCIAL DEBUT WITH LAUNCH OF INVESTMENT SALES DIVISION

NEW YORK, November 10, 2008 – Halstead Property, LLC, a leading residential real estate brokerage firm in New York City, is pleased to announce its entry into the commercial market with the formation of the Investment Sales Division. With John D. Goldman as Managing Director, the launch of this division will allow Halstead to expand and strengthen its scope in the commercial markets. “Halstead Property has a reputation for being innovative, thorough and smart in the residential market. It was a natural progression for our company to explore opportunities in the commercial and investment markets, and we are confident that the new Division will match the success we have had in the residential arena,” said Diane M. Ramirez, President of Halstead Property. “With John’s extensive expertise, a talented and seasoned Investment Sales team and a wide-reaching network, this Division is poised for tremendous growth that all of Halstead’s agents, clients and customers can benefit from.” Headquartered at 770 Lexington Avenue, the Investment Sales Division has already begun handling deals ranging from small and large properties, land, buildings as well as occupied and vacant buildings. Under Goldman’s supervision, the Division ensures a successful transaction for investors through advising on all matters including pricing, bidding, portfolio analysis, strategic planning and structuring, innovative marketing and negotiations. “In times such as these, albeit challenging, it is advantageous to launch an organization with fresh ideas,” said Goldman, who has more than 40 years of extensive experience in commercial and investment real estate. “The energy of new people with complementary strength and experience will successfully forge many new opportunities.” In addition to managing the execution of transactions, Goldman is responsible for the strategic growth of the Division and recruitment. Goldman brings a wealth of diverse knowledge to the Investment Sales Division, having worked as a developer, owner and manager, broker and attorney for some of the leading brokerage firms in New York City. Prior to joining Halstead, Goldman was an Executive Managing Director of Murray Hill Properties, where he sold more than $100 million worth of Manhattan buildings and development sites. Some of his recent major deals include the Brill Building in Times Square, the sale of the Sherry-Lehman building on Madison and the lease of the store on Park Avenues; earlier, as a developer, he built or converted such projects as 55 White Street, Clinton Court and 10 Bleecker Street.

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