Manhattan Office and Retail Firm to Become Part of Growing NYC Brokerage Powerhouse
NEW YORK, Jan. 24, 2014 /PRNewswire/ — The New York office of Coldwell Banker Commercial (CBC) Alliance has announced that prominent New York City commercial real estate firm Tarter Stats O'Toole (TSO) has joined its growing brokerage operation.
TSO has served the office and retail commercial real estate market in Manhattan for over three decades. It is the exclusive broker for over 3 million square-feet of properties in total, including such prominent landlords and assets as LPC Realty Advisors I, Ltd. and 250 west 39th Street; Zamir Equities and 587 5th Avenue; Hartz Mountain Industries/Leonard Stern; and Renaissance Properties and Kenneth Fishel. The company is listed in CoStar's most recent ranking of top ten New York City commercial real estate firms. The firm's three partners, Catherine O'Toole, Stephen Tarter, and Nora Stats, as well as a staff of seven brokers, are now part of CBC Alliance, significantly strengthening the firm's NYC operation. CBC Alliance is overseen by managing principals Richard Selig and Peter Sabesan.
The New York office is part of the CBC Alliance national organization, comprised of several firms in major markets across the country, dedicated to serving private investors, property owners and tenants, and small/mid-cap users of real estate nationwide.
"With the addition of TSO, we are well ahead of our growth strategy within the New York City market," said Obie Walli, CEO for CBC Alliance.
"The talented professionals that make up the Tarter Stats O'Toole organization have worked with top landlords all across the city and represent another key component in CBC Alliance's growth into a commercial real estate leader," said Peter Sabesan, Managing Principal for CBC Alliance. "The TSO expertise in landlord representation combined with our asset management division headed by Steve Pressler puts us well on our way to creating an unmatched full-service brokerage firm for New York City businesses and landlords."
Richard Selig, Managing Principal for CBC Alliance, adds, "The TSO team brings the highest caliber of commercial real estate professionalism to all aspects of this business and most importantly, they share our commitment to outstanding client service. We are extremely excited about this merger and are ready to capitalize immediately on our new, combined strength."
"We have been successfully serving the New York City commercial real estate market for over 30 years and this was an opportunity to take our firm to the next level," said Catherine O'Toole, who will also serve as a managing principal of CBC Alliance. "Our decision to join this organization is driven by its potential for continued growth and success. We have a high regard for the national network CBC Alliance is building and we are excited to deliver a broader range of value-added services to our clients. With the combination of a nationally recognized brand, an arsenal of tools and a strong source of capital, we are producing a true recipe for success."
About Coldwell Banker Commercial (CBC) Alliance
Coldwell Banker Commercial Alliance is a national commercial real estate brokerage company headquartered in New York City, dedicated to serving private investors, owners, and small/mid-cap corporate users of real estate. The firm currently has offices in New York, Los Angeles and Orange County, Calif., Dallas, Miami, and Denver, 150 professionals, $800 million in closed transaction value and over six million square feet under management. The company is also an independently owned and operated affiliate of the international Coldwell Banker Commercial® organization and one of the top offices in the firm's global network of over 200 offices and 3,000 brokers.
CBC Alliance was founded by Waterfall Asset Management (Waterfall), an investment manager with approximately $3.0 billion in client assets under management. Waterfall has also acquired more than $1 Billion of small-balance commercial loans nationally for its clients.
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