PRESS

Featuring Robert Kaplan

Robert C. Kaplan was drawn to the real estate industry because of it’s fast pace,
the opportunity to work with a wide range of businesses, and what he sees as the industry’s “unlimited potential for success.” After graduating from Rutgers University
with a bachelor’s degree in urban studies and planning and a certificate in housing
and real estate development, he decided to venture into real estate.

He joined Hidrock Realty, a private real estate firm with properties throughout the
East Coast that provides fully integrated real estate services, as a leasing associate. Now, four years later, he serves as the firm’s Senior Director.

A joint venture between Manhattan, New York City-based Hidrock Realty and Meritage Properties has acquired the Mary McFadden Building, a 17-story, 162,000-square-foot office tower located at 240 W. 35th St. in New York City. The property is fully occupied
by a roster of approximately 40 tenants, including Doubledown Media, First Funds and
A Better Chance.

Hidrock Realty has arranged five leases – three new and two renewals – at the Hollywood 95 Office Center in Hollywood, Fla. as the office park continues to bustle with activity. The 37,000 s/f office center, at 2700-2750 North 29th Avenue is approximately 90% occupied.

Abraham Hidary, president of Hidrock Realty, is planning to turn the ugly duckling
he paid $58M for into a swan.

As REW reported September 3, a joint venture of Hidrock and Meritage Properties purchased the 162,000 s/f office building, known as the Mary McFadden Building,
at 240 West 35th Street, between Seventh and Eighth Avenues.

A joint venture of Hidrock Realty and Meritage Properties has purchased the Mary McFadden building at 240 W. 35th St. from Eretz Group for $58 million. The 17-story building contains 162,000 square feet and sits between Seventh and Eighth Avenues.

Hidrock is also the owner and landlord of three properties along West 36th Street –
35, 53, and 65 – all located between Fifth and Sixth Avenues.

A joint venture of locally based Hidrock Realty and Scarsdale, NY-based Meritage Properties has acquired a 162,000-sf office building, known as the Mary McFadden Building, at 240 W. 35th St., between Seventh and Eighth avenues. According to
a source close to the deal, the purchase price was $58 million. The seller was the
Eretz Group, who couldn’t be reached by deadline for comment; however the source
tells GlobeSt.com that the reason for selling was simply that it was “offered a good
price,” for the asset.

The Futures Group Holdings, Inc. has leased 2,023 SqFt on the sixth floor of 53 West 36th Street for its headquarters, according to Abraham J. Hidary, President of Hidrock Realty, the building’s landlord. The asking rent was $45 per SqFt.

The tenant, a boutique-recruiting firm that specializes in the financial industry, will take immediately occupancy of the space for a term of seven years.

53 Design Corp. has leased 2,000 s/f of retail space on the ground floor of 53 West 36th Street, announces Abraham J. Hidary, president of Hidrock Realty, the building’s landlord. The asking rent was approximately $85 per square foot.

The tenant has a string of fashion boutiques on Seventh Avenue and decided to open a new wholesale division due to the stores’ popularity. 53 Design Corp. will conduct its wholesale operations from the new retail space.

By Abraham Hidary

During an economic downturn, commercial landlords have one primary focus – to keep their buildings filled and their vacancy rates low. Of course, at such times it is extremely important that both the owners and their brokers take an active role in retaining and attracting tenants. But during tough times, this poses a significant challenge that is
easier said than done.

One of the first things that landlords and brokers should do in this economy is evaluate their companies’ business plans and determine if their current strategies would suffice
in a tougher economy.