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ESG announces division for asset management.

The Edward S. Gordon Company, Inc. (ESG) has formed an asset management department, Gordon Property Advisors, which initially will oversee 18 high-profile commercial office buildings throughout the New York metropolitan area. Stephen B. Siegel, ESG's president, made the announcement.

ESG's Mitchell Rudin, senior managing director, will head the new department. Rudin has been with ESG since 1989. Prior to that, he was a partner at the international development firm, Tishman Speyer Properties, where he was responsible for the leasing of 2 million square feet in its multi-billion dollar New York area portfolio. Prior to Tishman Speyer, he practiced law with an emphasis on real estate transactions. Throughout his career, he has specialized in major lease transactions and the repositioning of commercial projects. Most recently, he oversaw the $100 million renovation of One New York Plaza and negotiated the lease with Prudential Securities for over one million square feet.

The purpose of the new department is to provide owners with the strategic direction and services to maximize the value of any property. In addition, it will enable the delivery of an even more sophisticated level of managing, leasing and construction supervision services with a higher level of accountability by establishing a single advisor for each building, who will be responsible for coordinating the activities of all disciplines involved in an assignment.

Among prestigious Manhattan properties in ESG's asset management portfolio are: 717 Fifth Avenue, One Chase Manhattan Plaza, 135 East 57th Street, 645 Madison Avenue, 522 Fifth Avenue, One New York Plaza, 6 East 43rd Street, 375 Park Avenue, and 350 Park Avenue and a number of high-profile properties in New Jersey, Connecticut and Westchester. Institutional owners represented by ESG include Aetna Life and Casualty, The Boston Company, Chase Manhattan Bank N.A., Equitable Life Assurance Company, Morgan Guaranty-Trust Company of New York, New York Life Insurance Company, Prudential Life Insurance, Teachers Insurance and Annuity Society of America and The Travelers Companies.
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Title Annotation:Edward S. Gordon Company Inc. forms asset management department named Gordon Property Advisors
Publication:Real Estate Weekly
Date:Jun 30, 1993
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