Winoker launches new division.

In response to growing demand, Winoker Realty Company, Inc. has announced the formation of a new Commercial Co-op and Condominium division headed by Jonata Dayan. David Winoker, president of Winoker Realty, made the announcement.

Cooperative and condominium ownership of their commercial space has become a more attractive option to many companies in New York as office rents continue to rise. This option is particularly attractive to companies that have limited expansion plans for the foreseeable future.

"Demand for commercial co-ops and condos is definitely on the rise," said Ms. Dayan, a director at Winoker Realty Company who spent over 20 years running a highly successful fashion manufacturing company and investing in commercial and residential real estate before joining Winoker in 2001.

"While this form of ownership has been popular among some foreign companies for many years, lately we are seeing more and more demand among domestic tenants, such as non-profits, professional and medical offices, fashion and entertainment companies, as well as other service businesses."

Winoker reports that prices for commercial coops and condos have increased 25 to 30 percent over the past two years alone. Despite this growing demand for product, Dayan says that there are only 40 to 50 buildings throughout Manhattan, in whole or in part, currently offering commercial co-op and condominium space for sale.

Winoker's new Commercial Co-op and Condo division will work not only with companies clamoring for this limited space, but with owners to encourage the creation of new product to meet this growing demand.

Winoker Realty Company has seen a vast increase in interest and has closed or is in contract for a half dozen commercial co-op and condominium transactions during the first quarter of 2005 on behalf of both buyers and sellers. Of these six deals, five of them were commercial co-ops, which previously were less popular among buyers than commercial condominium purchases. The reason for this upswing in interest in commercial coops is simple, according to Ms. Dayan: there is so little condominium product available that committed buyers have little option.

To assist these buyers, Winoker Realty has compiled a proprietary database of commercial co-op and condo availabilities throughout Manhattan.

Working with Ms. Dayan in Winoker Realty's new Commercial Co-op and Condo division are Senior Managing Director Richard Price and Managing Director David Kahane, industry veterans with over 45 years' experience combined.