LEGAL CORNER: NYC Passes the FARE Act and Restricts the Payment of Commissions by Tenants
The real estate industry has expressed concerns regarding the potential repercussions of the FARE Act.
Helmsley Spear, LLC recently announced the addition of three executive managing directors to the New York City-based firm.
Fernando Murillo has joined the firm and will focus on tenant and landlord representation.
Murillo has more than 30 years of experience in corporate real estate across multiple service platforms including, portfolio solutions, location strategy and, transaction management. He has built relationships spanning more than 20 years with tenant occupiers ranging from international companies to real estate developers. Previously, Murillo served as a Senior Vice President at Cushman & Wakefield where he represented many notable clients in lease transactions in the greater New York area such, as Xerox, Fiat Chrysler Automobile, Alorica and, Humana.
He began his career at KPMG in New York City prior to initiating his career in commercial real estate at Edward S. Gordon, followed by serving as Senior Managing Director at Murray Hill Properties.
Newly appointed executive managing director Len Zimmerman will focus primarily on tenant representation.
Previously, Zimmerman served as Executive Managing Director and Principal at Lee and Associates. His experience in healthcare and with non-profits, includes past clients such as Mount Sinai, Continuum Health Partners, CUNY, Clark School for the Deaf, and the Screen Actors Guild. He has also completed many large transactions for major for-profit companies, including 500,000 square feet and a 490,000 square feet transaction for Qwest Corporation, a 48,000 square feet transaction for Intermap Network Services, and a 50,000 square feet transaction for Meridian Capital Group.
Throughout his real estate career, Zimmerman has served in several senior management positions. He worked with CBRE, Inc. on new business acquisitions, establishing strong relationships with national and international companies. Prior to joining CBRE, he was with Grubb and Ellis for nine years, where he provided tenant representation services for office and data sites, including strategic real estate planning and implementation, market research and lease negotiations.
Before entering the real estate industry, Zimmerman lived and worked throughout Southeast Asia for 16 years, including Hong Kong, Korea, Taiwan and the Philippines, where he owned an import/export business and was involved with manufacturing as a partner in an athletic footwear factory.
Richard Rosenthal will focus primarily on strategic real estate planning and implementation, transaction structuring, tenant and landlord representation, lease negotiation and property sales.
Prior to joining Helmsley Spear, Rosenthal served as the Executive Managing Director and Principal for Lee & Associates NYC with its office brokerage division. He has represented many notable clients including National General Corp., SIAC, Williams College, News America Publishing, HarperCollins Publishers, The Kaplan Thaler Group, Polo/ Ralph Lauren, Mount Sinai and MicroTek. He has also
represented some of New York City’s most prominent properties such as 460 Park Ave., 555 Madison Ave., 750 Seventh Ave., 666 Fifth Ave. and 1500 Broadway.
Rosenthal started his career as a licensed real estate broker more than 30 years ago at Wm. A. White & Sons which evolved into Grubb & Ellis. During that time Rosenthal had the distinction of having twice been selected as the recipient of the Real Estate Board of New York’s prominent Most Ingenious Deal of the Year award. He earned his first award for the assemblage of properties, and the planning and the structuring of a major office lease with National General Corp. culminating in the construction, by joint venture, of a 33-story, 478,000 square foot office building at 1500 Broadway. The second award was for a transaction enabling Actors Equity to maintain its identity and enhance its financial position at 1560 Broadway, a 17-story 213,000 square foot office building now known as the Actors Equity Building.
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