Max Capital's 1440 Broadway

Real Estate Weekly, March 29, 2000 by Lois Weiss

One's loss is another's gain. When iVillage lost its deal at Max Capital's 1440 Broadway to Conde Nast, its Cushman & Wakefield brokers Bruce Mosler and Mitchell Konsker went back to "start."

But fast calls to the Jimmy Kuhn-led Newmark team representing Joseph Moinian's building at 500-512 Seventh Avenue brought a speedy resolution. Contracts were drawn up on Friday and were negotiated through 5 a.m. Tuesday. That's when the women's 106,000 square-foot website was signed, sealed and being readied to install for an August delivery.

Now Max Capital made way for Conde Nast at the urging of Insignia/ESG's Mary Ann Tighe, because it's a more credit worthy tenant. Our sources say that to ensure iVillage lives up to its signature, and the ownership won't be foiled by the Dot No Dollar Bill Blues, a two-year letter of credit worth some $9.5 million was impaled by Kuhn for the ownership.