• New York City

Tri-State EDSF Team Named as Most Important Figures of Commercial Real Estate Finance

In a recent ranking of the 50 Most Important Figures of Commercial Real Estate Finance released by Commercial Observer, Cushman & Wakefield’s Steve Kohn, Dave Karson, Gideon Gil and John Alascio were collectively named 27th on the list of most influential people in New York’s commercial real estate finance industry. The team also includes Alex Hernandez, Chris Moyer, Mark Ehlinger, Sri Vankayala and Alex Lapidus.  The impressive jump from 46th last year to 27th this year is no surprise as they have completed some of the largest and most significant financing transactions in New York City.

Independence Plaza

“We had an incredibly strong year securing some of Manhattan’s largest financings in 2018, including the $675 million refinancing of Independence Plaza, a 1,327-unit, three-building multifamily property located in Manhattan’s Tribeca neighborhood for Vornado Realty Trust and Stellar Managment,” said Steve Kohn, Vice Chairman, President of Cushman & Wakefield’s Equity, Debt & Structured Finance, “and we anticipate continued success leading into 2019.”

Early in 2018, the team secured the financing for Oxford Properties Group and Canada Pension Plan’s acquisition of St. John’s Terminal, which will become a newly renovated 1.3 million square foot commercial asset in Hudson Square.

Another transaction of note was the $415 million of floating-rate financing secured by 575 Lexington Avenue, a 745,000 square-foot, Class A office property in Midtown for affiliates of Angelo Gordon & Co, Normandy Real Estate Partners and George Comfort & Sons.

Additionally, the team secured a $381 million loan on behalf of Waterside Plaza, a mixed-use complex located in the Kips Bay neighborhood of Manhattan for Brookfield and Richard Ravitch.. Also in Manhattan, the team worked on $260 million in financing for the acquisition, capital improvements and lease-up of 101 West End Avenue, a 506-unit multifamily property on the Upper West Side for The Dermot Company, USAA Real Estate and PGGM, collectively.

“Many of our transactions utilize Cushman & Wakefield’s vast global platform,” added Kohn. “We work closely with other service lines, but most notably with the Institutional Capital Markets team headed by Doug Harmon and Adam Spies.”

Cushman & Wakefield’s EDSF service line provides a full spectrum of financial services for both domestic and international clients including structuring and arranging debt and equity for new acquisitions and recapitalizations, repositioning strategies, note sales and hotel investment sales. The team works on transactions for all asset classes including office, multifamily, retail, lodging and leisure, healthcare and senior housing facilities, industrial and land.

  • New York City

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