PRESS

Eyal and Karen Hen started off as roommates.

Mr. Hen came to New York from Israel a dozen years ago after serving in the Israeli army, and shared a large apartment in Kensington, Brooklyn with several other Israelis.

A few years later, he recieved a Facebook message from Karen Rehany, who was from the same Israeli town, Nahariya. She was interested in coming to New York. His apartment had an available room; she jumped at the opportunity. He picked her up at the airport.

Each year, hundreds of enthusiastic young real estate agents find themselves rolling off the bus and landing in the city’s biggest brokerages, having left behind hometowns and college campuses in search of fame and fortune, wealth and wisdom—or, perhaps, just enough money to pay the monthly rent.

But commercial real estate has never been for the faint of heart, and thus for every college graduate who makes the cut as a junior broker at Jones Lang LaSalle and Avison Young, an equal number of determined peers find themselves marveling at just how disciplined the competition can be.

Manhattan-based commercial real estate owner Hidrock Realty announced today that it has signed Greek bakery Artopolis to a ten-year, 2,100-square-foot lease at 512 Broome Street. The property is a single occupancy retail building in SoHo that Hidrock acquired for $2.8 million earlier this year as part of a 1031 Exchange. The lease marks Artopolis’ first foray into Manhattan; the bakery currently has a location in Astoria, Queens.

Hidrock Realty Inc. announced today that it has secured a $1 million refinance on its construction loan for Stillwell Townhouses, located at 1729 Stillwell Ave. in the Bensonhurst section of Brooklyn. Sterling Bank provided the financing, which allows Hidrock the flexibility to retain and rent the property’s five unsold units. Hidrock originally took out a $7 million construction loan to build the 24-unit condominium in 2011.

When The Commercial Observer first set out to survey New York City’s most venerable commercial real estate owners in our inaugural Owners Inquisition last year, the old guard at some of Manhattan’s largest public relations firms pushed back, presuming their clients might wilt in the face of questions about their personal role models, biggest fears and market forecasts.

One year later, however, our second annual Owners Magazine is better than ever, with even more real estate owners gamely discussing topics as serious as what the next mayor’s priorities should be and as silly as what actor they would choose to play them in the movie of their life (Hint: George Clooney in most cases).

Hidrock Realty and Marriott International welcomed more than 200 guests to celebrate the grand opening of Courtyard by Marriott in Herald Square. The ribbon cutting ceremony was led by Mayor Michael Bloomberg, Hidrock Realty CEO Jack Hidary and David Marriott
of the Marriott hotel chain. Guests enjoyed a reception at the hotel’s rooftop lounge, Monarch.

Hidrock Realty and Marriott International recently welcomed more than 200
guests to celebrate the grand opening of New York’s newest Courtyard by Marriott
at 960 Sixth Ave. in Herald Square. The official ribbon cutting ceremony was led by
Mayor Michael Bloomberg; Jack Hidary, CEO of Hidrock Realty; David Marriott, COO,
Eastern Region, The Americas at Marriott International; and George Fertitta, CEO
of NYC & Company.