What was the motivation for that hire? What did you see in him?
He understood the real estate business, having serviced clients looking for office furniture. He understood the sales business very well.
Have the last few months been busy for you guys?
A couple of our largest tenant reps: We did an 11,000-foot office deal with Superior Office Systems. It was closed a couple months ago, and we moved them to 49 West 37th Street. Another deal was a private-equity firm that we renewed their lease at 1133 Avenue of the Americas for 7,000 feet.
How long were those leases?
Superior Offices was 12 years, and the other was, I believe, five years.
Give me your forecast for 2010 and any developments you expect at Savitt Partners.
We’ll start seeing some acquisition opportunities over the next 12 to 18 months and on the leasing front. … Leasing activity has picked up the last four or five months, and I think it will continue to do so. I think rent will probably stay flat for the near future; but I do think there’s a real positive sign in the real estate market that tenants are committing to long-term leases and now they’re having confidence in their business going forward.
Has the market hit bottom?
I believe the leasing market has hit bottom. We don’t really know where the sales market is because there are so few transactions.
You were a professional tennis player for a while. Do you still play?
I do. I play a little tennis, and I play a little more golf than I do tennis these days. I played for a year after college on the pro circuit, so I enjoy playing tennis with my little son, and I play mostly with a few other friends once a week or so.
You’re involved with the Fashion Center BID. Did you hit the fashion show circuit last month during Fashion Week?
I used to go to a lot of them. I go to less of them now, but I do go from time to time. It’s one of the trappings of the partners of the Fashion Center Business Improvement District, which started many years ago to improve the security and sanitation in the fashion center. It’s had a huge impact in the area.
I imagine that going to some of the events is kind of a perk?
It is. It’s fun. They’re very exciting and there’s a lot of energy.
Ever pal around with Ashton Kutcher? Demi Moore?
I don’t. I don’t really travel in those circles. I live in Connecticut with my wife and three kids, and I spend a lot of time with them when I’m not in the office.
jsederstrom@observer.com
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