CB Richard Ellis Inc. has promoted Ken Rapp, a commercial real estate veteran known for his prolific leasing work with some of Manhattan\u2019s biggest corporations and other high-profile clients, to vice chairman for CBRE\u2019s New York Tri-State region. Rapp, who has been with CBRE 20 years, is the youngest CBRE Tri-State executive to be promoted to vice chairman. Named a \u201cTop 10\u201d producer in CBRE\u2019s New York office more than 10 times, he has also been honored as one of the top sales professionals in the United States. Rapp has arranged more than 10 million square feet in transactions for an aggregate value of more than $8 billion and completed more than 300 lease transactions. \u201cYou need to be involved here and participate and help the company grow,\u201d Rapp told CPN when asked whether there would be any changes in his duties along with his promotion. Rapp, who marked his 20th anniversary with the firm in May, said he has grown along with CBRE, which was known as Coldwell Banker & Co. when he started. \u201cWe had maybe 30 or 35 brokers in New York, now we have 350,\u201d he noted. Rapp added that CBRE\u2019s acquisition of Insignia\/ESG in 2003 and others has helped the company go \u201cfrom having basic services to having a strong, broad platform in every way. Consulting, capital markets, appraisals, project management–we didn\u2019t have that 20 years ago.\u201d The power broker is known for providing creative solutions to tenant needs. A June 21, 2006, CPN report noted that Rapp\u2019s team came up with an unusual way to get more space for longtime law firm client Simpson Thacher & Bartlett, which wanted to lease in the Chrysler Building East but was unable to find space. Rapp\u2019s team arranged for the law firm to lease 78,255 square feet in the neighboring Chrysler Building and then break through the walls to create one contiguous floor between the two skyscrapers. Specializing in Midtown and Downtown Manhattan, Rapp has arranged 450,000 square feet for Aon Corp.; 250,000 square feet for Simpson Thacher & Bartlett; 230,000 square feet for Hogan & Hartson; more than 500,000 square feet for the City of New York and 100,000 square feet for AIGSunAmerica Asset Management. He has worked on numerous deals for Legg Mason, coordinating more than 700,000 square feet of transactions for the global asset management firm, including dispositions and relocations in Manhattan and a 200,000-square-foot lease restructure in Stamford, Conn. On the agency side, other assignments have included the General Motors Building, 55 Water St. and Three World Financial Center. As reported yesterday by CPN, Rapp\u2019s colleague Craig Reicher has also been promoted to vice chairman for CBRE\u2019s New York Tri-state Region. Reicher, a 21-year commercial real estate veteran is also an attorney. Over the past five years, he has negotiated close to 1 million square feet on behalf of Bloomberg L.P. and led the team that renewed Fried Frank\u2019s 380,000-square-foot lease at One New York Plaza. Reicher\u2019s brokerage practice also includes landlord representation and investment sales work. In March, he was part of the team that closed the $525 million sale of 120 Park Avenue on behalf of the seller, Altria Group, together with the leaseback of 100,000 square feet at 120 Park by Philip Morris International and Altria.<\/p>\n","protected":false},"excerpt":{"rendered":"
CB Richard Ellis Inc. has promoted Ken Rapp, a commercial real estate veteran known for his prolific leasing work with some of Manhattan\u2019s biggest corporations and other high-profile clients, to vice chairman for CBRE\u2019s New York Tri-State region. Rapp, who has been with CBRE 20 years, is the youngest CBRE Tri-State executive to be promoted…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1003836646","post","type-post","status-publish","format-standard","hentry","category-regions"],"acf":[],"yoast_head":"\n