ROLE & RESPONSIBILITIES
August A. DiRenzo is Vice Chairman and member of the Americas Board of Advisors of Cushman & Wakefield, Inc. His long and distinguished career at C&W has encompassed virtually every phase of commercial real estate, navigating clients through a wide range of complex solutions involving unique ownership positions and major lease negotiations.
Two of his most notable transactions are the sale of the 10.2 million sf World Trade Center in 2001, representing The Port Authority of New York, as well as the sale of, Con Edison’s “five city block” parcel on First Avenue, near the United Nations Headquarters. Both were among the most intricate transactions represented by C&W in New York City, each taking over 3 years to execute.
The Word Trade Center disposition assignment was awarded by the Port of New York and New Jersey. C&W assembled a joint advisory team of professionals including a partnership with J.P Morgan Chase, providing the investment banking expertise, and C&W providing real estate advisory services.
The Con Edison “First Avenue” land disposition was approved by Con Edison following C&W’s review of Con Edison’s real estate portfolio, identifying key surplus properties. The First Avenue property housed a “steam” generating” plant, almost a “century” old; the sale of the property posed a multitude of issues including environmental, zoning, etc., as well as the Public Service Commission approval. The result of CW’s work was the sale of the 5 block parcel to a major developer with approvals for approx. 5 million sf. of mixed use commercial and residential zoning.