\n
![\"Attendees](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/09\/windows-PowerGala7WTC22Sept2026GMorris_97_9745-WEB.jpg\" "\\"A")
Attendees take in the view at the Commercial Observer Power Gala at 7 World Trade Center. PHOTO: Greg Morris\/for Commercial Observer<\/p>\nWhile power defines the annual soiree, honorees\u2019 tenacity earned this year\u2019s highest praise. Over the past 12 months, New York City\u2019s commercial real estate sector has made significant strides toward recovering its pre-pandemic vigor, including setting new records for office rents<\/a> and leasing demand<\/a> despite interest rate hikes and credit concerns.<\/p>\n The 25th anniversary of the Sept. 11, 2001, attacks also loomed large over the event. The significance of the night\u2019s setting and its host, Silverstein Properties<\/a>, was not lost on anyone. Joseph Meyer, chairman of Observer Media<\/a>, remembered witnessing the tragic day\u2019s events as a newly hired analyst at Lehman Brothers, and watching the rebirth of Manhattan in its wake.<\/p>\n \u201cThis market is defined by rapid evolution,\u201d Meyer said. \u201cAnd it\u2019s really a privilege to stand in front of you, the executives who have done some of the most transformational transactions in the industry.\u201d<\/p>\n CO Editor-in-Chief Max Gross noted that one of Commercial Observer\u2019s first galas following the pandemic was held at 7 World Trade Center.\u00a0<\/p>\n \u201cI think most of the people here tonight understand that whatever bad things come our way \u2014 and many have, and there will be other bad things in the future \u2014 the answer is to roll up our sleeves and get to work,\u201d Gross said.\u00a0<\/p>\n His words kicked off the night\u2019s awards ceremony, which began with Investment Deal of the Year. Mark Mindick, partner and real estate practice leader at Citrin Cooperman<\/a>, presented the award to Miki Naftali, recognizing the Naftali Group<\/a>\u2019s $810 million acquisition<\/a> of 800 Fifth Avenue in 2025.\u00a0<\/p>\n \u201cAt a time when investors are navigating higher costs of capital and shifting valuations in a rapidly changing market, Naftali Group made a decisive bet among the most irreplaceable locations in the world,\u201d Mindick said.\u00a0<\/p>\n Aaron Casden and his team at J.P. Morgan Chase<\/a> received the Finance Deal of the Year award for their $4.3 billion construction financing<\/a> at One Beverly Hills, the hotly anticipated, 17.5-acre mixed-use development by Cain<\/a> in partnership with Eldridge Industries<\/a>.<\/p>\n Brian Cohen, director and chair of New York real estate at Goulston & Storrs and the award\u2019s presenter, praised the J.P. Morgan team\u2019s understanding of the project\u2019s vision and sponsors, as well as the long-term opportunity in the Beverly Hills market.<\/p>\n \u201cIn a market where lenders are carefully evaluating risk, capital costs and fundamentals behind every major development, bringing billions of dollars in financing to a project of this magnitude requires more than just capital,\u201d he said.\u00a0<\/p>\n Newmark<\/a>\u2019s Adam Spies was next up to the podium to award the Urban Developer of the Year to Vornado Realty Trust<\/a>\u2019s Steven Roth, Glen Weiss and Barry Langer, for their $2.5 billion revitalization of the Penn District, development of Sunset Pier 94 Studios, and undertaking the Citadel<\/a>-anchored office tower at 350 Park Avenue.<\/p>\n \u201cWho else is it going to go to?\u201d Spies said of the award, tying in the New York Knicks\u2019 history-making run at Madison Square Garden and the menu at the neighborhood\u2019s Blue Ribbon Sushi into his praise of the Penn District.<\/p>\n The Office Deal of the Year came as no surprise, either, awarded to the partnership between Silverstein Properties and American Express<\/a> for the banking giant\u2019s new global headquarters at 2 World Trade Center, comprising nearly 2 million square feet. Presenter Jonathan Knipe, co-chair of real estate at Cozen O\u2019Connor, presented the award.<\/p>\n \u201cBecause of where we are, and because this is the 25th anniversary year of 9\/11, tonight carries special weight,\u201d Knipe said. \u201c7 World Trade Center was the first tower to rise after the attacks. The deal we recognize tonight makes it possible for the final office tower on the campus to rise.\u201d<\/p>\n American Express\u2019 Paul Gioioso and Silverstein\u2019s Dino Fusco accepted the award arm-and-arm.<\/p>\n Gross returned to present the night\u2019s final honor, the Executive Leadership Award, to Lisa Silverstein, acknowledging her role in transitioning the firm\u2019s leadership<\/a> and expanding its platform beyond office assets.<\/p>\n In her remarks, Silverstein paid a tribute to the wise words of her father, Larry Silverstein, who was also in attendance: \u201cA beautiful building is a rented building.\u201d<\/p>\n The award was an homage to the company\u2019s tenants and their trust in Silverstein, Lisa Silverstein said, as well as their development partners.\u00a0<\/p>\n \u201cThe World Trade Center has become more than Class A skyscrapers, and that would have been enough,\u201d she said. \u201cIt\u2019s evolved into a thriving ecosystem of vibrancy and life.\u201d<\/p>\n After sprinkling in some Winston Churchill, Lisa Silverstein brought the event to a close. Many attendees filtered out, but a few stayed to rub elbows at the open bar \u2014 doubtlessly cooking up bold plans and bigger deals that will be vying for next year\u2019s round of awards.<\/p>\n![\"Attendees,](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/09\/crowd-PowerGala7WTC22Sept2026GMorris_88_9730-WEB.jpg\" "\\"A")
Attendees, including Mary Ann Tighe, mingle at the Commercial Observer Power Gala at 7 World Trade Center. PHOTO: Greg Morris\/for Commercial Observer<\/p>\n![\"Attendees](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/09\/Will-Silverman-Dan-Berman-PowerGala7WTC22Sept2026GMorris_118_9783-WEB.jpg\" "\\"A")
Attendees including James Nelson (from left), Will Silverman and Dan Berman mingle at the Commercial Observer Power Gala at 7 World Trade Center. PHOTO: Greg Morris\/for Commercial Observer<\/p>\n![\"Attendees](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2026\/09\/crowd-PowerGala7WTC22Sept2026GMorris_87_9728-WEB.jpg\" "\\"A")
Attendees mingle at the Commercial Observer Power Gala at 7 World Trade Center. PHOTO: Greg Morris\/for Commercial Observer<\/p>\n