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Maidman addressed B 'nai B'rith.

Mitchel A. Maidman, president of Townhouse Management Company, was the keynote speaker at B'nai B'rith's Real Estate Unit November luncheon at the Cornell Club. Maidman's topic was "What's Changed and What's Not Changed in Upscale Housing in New York."

"Mitchel Maidman is an accomplished real estate attorney, developer, and owner, whose family manages and owns more than 20 major residential buildings in Manhattan, with 800 units and rent rolls exceeding $15 million," noted Sam J. Jemal, co-chair of the B'nai B'rith Real Estate Unit. "His outlook for future real estate investment, acquisition, management, and development is much anticipated."

Maidman has been responsible for Townhouse Management's day-to-day operations since 1996. His company's notable new projects include gut renovation of two townhouses at 35-3 7 E. 63rd St. into a single, 20,000-SF mansion; the conversion of the 22-story tower at 113 W. 42nd St. into luxury residences, a hotel, and a gourmet restaurant; and an investment in two joint ventures for extended-stay corporate housing.

Corporate housing is a new direction for Maidman and Townhouse Management, whose partner in this venture is Pine Equity-N.Y. The corporate customer is ExecuStay, the corporate housing services division of Marriott International, Inc. In consideration for guaranteed long-term leases, Townhouse has been building or renovating to ExecuStay's specifications. The first renovation included The Chelsea at 160 W. 24th St., a 204-unit apartment building. Other new construction going up for ExecuStay is at 554-556 Third Ave.
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Title Annotation:president of Townhouse Management Company
Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 5, 2001
Previous Article:Grubb & Ellis report: tenants have bargaining power.
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