Citi Habitats forms commercial group

Real Estate Weekly, May 7, 2003

Citi Habitats, Inc., New York's largest residential real estate leasing firm and one of the largest sales firms has officially launched CH Commercial Real Estate Group, LLC, a new commercial real estate division of Citi Habitats. Located at 30 East 33rd Street, in Citi Habitats' corporate headquarters, CH Commercial will work closely with the residential powerhouse to better serve its clients looking to buy, sell or lease commercial property in Manhattan and throughout the five boroughs.

CH Commercial is. a dynamic and full service brokerage company designed to assist Citi Habitats agents and its affiliates with office, retail and investment sales transactions. It will greatly add to the array of services that Citi Habitats currently offers its clients, and reach new, previously untapped markets. The group was formed in part to meet the growing needs of previous clients looking for commercial property, and to make each Citi Habitats agent and manager more marketable. To ensure an elevated level of service and integrity, CH Commercial's staff has been hand picked for their professionalism, knowledge and expertise in the New York commercial market.

The new commercial division is one of the many additions that has been part of the nine year old firm's massive expansion within the past year. Citi Habitats has also opened over 16,000 SF of space in seven new state-of-the-art branch offices, a new corporate training and relocation facility at 450 Park Avenue South, Citi Furnished a furnished rental division, Citi Move-In Solutions a move-in solutions company, and Citi Relocation which specializes in corporate relocation.

Michael Forrest, an accomplished commercial real estate attorney and commercial broker, will be heading the group as executive managing director. He is a graduate of The George Washington University Law School, where he was the recipient of the Alan Dershowitz Fellowship. Most recently, he worked as a top producing commercial broker at one of Manhattan's largest commercial firms. Forrest is also an active member of the Real Estate Board of New York (REBNY) and the New York State Bar Association (NYSBA).

Forrest is encouraged by the enthusiasm and support that he has already received from Citi Habitats and the real estate community. "I am extremely excited about the opportunity to build a platform that leverages Citi Habitats existing relationships," says Forrest. He adds, "CH Commercial will expand upon these associations in order to offer our landlords and tenants a full spectrum of real estate services.

"With this new addition, Citi Habitats will have the ability and resources to close on commercial real estate transactions including, retail, office, and investment sales," says Andrew Heiberger, president and chairman of Citi Habitats. "This is an exciting step for everyone involved in this new venture, and a huge statement regarding our company's recent growth." The addition of CH Commercial will also strengthen the company's status among the "Big 4;" New York's largest real estate firms.