NEW YORK—The Real Estate Board of New York (REBNY) has named Newmark Grubb Knight Frank (NGKF) as the first place winner of its Most Ingenious Deal of the Year Awards. NGKF’s Barry M. Gosin, Brian S. Waterman and Romel Canete received the first place Henry Hart Rice Award for their Morgan Stanley lease at One New York Plaza.
Representing two years of analysis, strategy, and negotiations with various parties, the NGKF team played key roles in returning 2,300 financial services back-office jobs to New York City. From creating a long-term occupancy strategy for Morgan Stanley’s back-office functions in New York and New Jersey, to crafting a unique transaction structure that enabled Morgan Stanley to pursue an early renewal, with minimal impact on its P&L run-rate during the early years of the lease, the NGKF professionals walked the transaction through step by step.
The second place Robert T. Lawrence Award was presented to Helen Hwang and Nat Rockett from Cushman & Wakefield for the sale of 88 Leonard Street, while the third place Edward S. Gordon Award went to Scott A. Singer and Jeffrey C. Moroch from The Singer & Bassuk Organization for the construction financing of 50 Oceana Drive West in Brighton Beach.
More than 35 deals were considered for the honors. Winning deals were selected based on submissions that demonstrated the highest levels of ingenuity, creativity and professional skill.