Bertelsmann Building advances to national competition

Real Estate Weekly, April 5, 2000

The prestigious Bertelsmann Building at 1540 Broadway, owned by Bertelsmann, Inc. and managed by Insignia/ESG, Inc., was the recipient of the Building Owners and Managers Association of New York's (BOMA/NY) Pinnacle Award for Excellence in the category of Corporate Facility of the Year 1999-2000. The award was presented at the BOMA/NY Awards Dinner held at the Windows of the World last month.

The Mid-Atlantic Conference (MAC) Region of BOMA International has also selected the Bertelsmann Building to receive its TOBY Award for Regional Office Building of the Year in the Corporate Facility Category. This award will be presented at the MAC Conference in April. It now places the building in competition with the award-winners from each of BOMA's international regions for the international award, which will be announced and presented at the Annual Convention to be held in San Diego, California in June.

"We at Bertelsmann are very proud of our facility and strive to have it reflect the strength and quality of our business," said William Tung, vice president of Corporate Real Estate for Bertelsmann. "Insignia/ESG has worked diligently with us to achieve this honor."

"We are honored to receive this award and look forward to maintaining the very high standards we have set for the Bertelsmann Building and the other properties we manage," said Gregg Popkin, senior managing director for Insignia/ESG's Property Management Group. The Award is presented in recognition of quality, excellence in building management, physical attractiveness, efficiency of operation and the impact it has on the community. Insignia/ESG has been managing agent of the building for six years.

The 45-story Bertelsmann Building, completed in 1992, is one of Midtown Manhattan's most prestigious corporate addresses and the home of Bertelsmann's publishing and media subsidiaries, such as Random House and Bertelsmann Music Group (BMG). The multi-use property on Broadway between 45th and 46th Streets is also home to the world's largest record store, the Virgin Megastore; the first Official All Star Cafe'; and a four-plex Loews movie theater.