Gary R. Blum Joins Greiner-Maltz as Director of Conversion Development
Long Island City,
NY, June 10, 2002 -- Gary Blum, a 20-year real estate industry veteran,
has joined Greiner-Maltz as Director of Conversion Development. He will
be spearheading a team of brokers who are focusing on the vast, underutilized
industrial base of Queens, Brooklyn and the Bronx.
Throughout his lustrous
career, Gary brought to fruition complex industrial, commercial and retail
transactions. From the beginning, he consummated several significant industrial
leasing and sales transactions, such as:
- The representation
of both the Larry Silverstein Group as seller and Irwin Cohen Development
in the purchase of the excess 500,000-sq. ft. warehouse resulting from
the merger of Gimbel's and Macy's.
- Brokered the first
significant industrial condominium transaction with the sale of a 150,000-sq.
ft. division of a 300,000-sq. ft. building to Lord West Tuxedo; a $7.5
- Repositioned a
180,000-sq. ft. loft complex in the heart of Long Island City to sell
to three separate buyers having a transaction value of $12 Million.
Anticipating the growing
trend for retail conversion of existing industrial properties, Gary completed
transactions which were instrumental in turning the Northern Blvd. corridor
into a retail destination as well as the transformation of the Whitestone
Expressway landscape into a shopping mecca.
Gary's first significant
industrial to retail conversion resulted from Hershey Foods backing his
vision for the marketing of the obsolete 400,000-sq. ft. Ronzoni Pasta
Plant on Northern Blvd. Correctly evaluating the site as having retail
potential, Gary's structured marketing campaign resulted in an $18 Million
sale to Kmart. The Home Depot subsequently placed their seal of approval
on the site by acquiring it from Kmart for $21 Million.
development transactions included long-term leases for:
- Old Navy, valued
at $6 Million
- Kids R US, valued
at $16 Million
- T.J. Maxx, valued
at $12 Million
- Toys R US, valued
at $25 Million
- The Sports Authority,
valued at $11 Million
- Marshalls, valued
at $15 Million
- Babies R US, valued
at $20 Million
Gary is an adjunct
professor at New York University and at Iona College and holds a Masters
Degree in Business Communications from the University of MD.
For more information
on Greiner-Maltz, Greinermaltz.com or any available properties in the
metropolitan area please contact John Maltz at 718-786-5050 x 207, via
email at email@example.com.
Since 1953 Greiner-Maltz has been engaged exclusively in the leasing, selling, appraising and managing of industrial, commercial, and investment property in Manhattan, Brooklyn, Queens, Long Island, New Jersey, Westchester, and Connecticut. The firms five offices are actively managed by Principals: John Maltz and Sharone Levy in Brooklyn and Queens; Swain Weiner, metro area investments; Tom Attivissimo in Long Island, Raymond Musalo in New Jersey, and Ayall Schanzer in Westchester. www.GreinerMaltz.com