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Walter & Samuels forms alliance with Silk & Halpern.

Walter & Samuels, Inc. (W&S) has formed a strategic alliance with Silk & Halpern, Inc. (S&H), announced David I. Berley, W&S chairman and Richard Halpern, S&H chairman.

As part of the new alliance, W&S becomes asset manager for six S&H buildings, comprising over 400,000 SF of office and retail space.

"This new alliance will combine the asset management expertise of W&S with the extensive management and retail experience of S&H," they say. "It will unite the integrity and stability of two elite New York real estate firms."

The relationship became effective June 1. In addition, S&H will move its management operation into W&S's offices at 419 Park Avenue South, says Berley.

Furthermore, Berley and two of his W&S partners -- managing directors Steve Forest and Peter Weiss -- have purchased equity interests in the Silk & Halpern portfolio of properties.

"Walter & Samuels has become a leading third-party asset management firm in recent years for some of New York's premier real estate owners," says Forest. "With Silk & Halpern's Madison Avenue and other locations, we are extending our portfolio into a key midtown Manhattan area."

Professionally and socially, Berley has known Mr. Halpern and his father, William Halpern, for more the 30 years.

The six buildings involved are: 501 Madison Avenue, 425 Madison Avenue, 6 East 45th Street, 136 East 57th Street, 31-33 West Eighth Street and 719 Seventh Avenue.
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Jun 20, 2001
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