M Myers Mermel

Acted as advisor on over $42B of advisory transactions, $23B in private financial advisory transactions and 25MM square feet of acquisition advisory assignments. Significant transactions include:

Advisory:

Air Rights:

Family office focused on Commercial Real Estate and Media (www.mermc.com).

Significant investments include:

• 660 Madison Avenue (Barneys) 253,000 sq.ft. Managing Member, purchased in 2003 for $160MM, consisting of $15MM in equity, $135MM in a first mortgage with Greenwich Capital/RBS and $10MM in mezzanine financing from the seller. Sold to Risanamento SpA, in 2007 for $375MM, resulting in a 57% IRR. By targeting and repositioning the building for hedge fund occupancy achieved the highest office rent in history at that time at over $120 psf, achieving parity with global real estate markets in London and Tokyo. Sold the building at the second highest per square foot price for office in history at that time.
• 104 West 40th Street (Springs Industries) 210,000 sq.ft. Managing Member, purchased in 2005 for $82.5MM, consisting of $46.0MM in equity and $36.5MM in an assumed first mortgage with Bank of America. Sold to Principal Life for $145MM in 2007, resulting in a 59% IRR
• 48 Wall Street (Bank of New York) 324,000 sq.ft. Co-Managing Member, purchased in 1998 for $37.5MM, consisting of $4.2MM in equity, $32MM in a first mortgage with Credit Suisse and $1.3MM in mezzanine financing. Sold interest to partners in 2013 at $113.4MM valuation
• Radio Vermont Group Managing Member, purchased in January 2024 the distressed seven frequency radio cluster, from family who founded stations in 1931. Consists of Vermont's largest News/Talk/Sports station WDEV AM-FM, and WCVT, and WLVB. Currently is now third largest radio broadcaster in Vermont and cash flow positive.