In 2002, six Manhattan towers supervised by Wien & Malkin, and formerly managed by Helmsley-Spear, saw their leasing and management taken over by New York's three leading management and leasing firms. After less than a year of reorganization and planning, they were re-branded last fall as W&H Properties. In a coordinated effort of direct mail, e-mail and advertising, accompanied by massive broker and tenant outreach, the brokerage and tenant communities were educated about the exceptional, shared advantages of all W&H buildings.

"When we launched the W&H brand, we promised a renovated and upgraded product, first quality service to brokers and tenants, and direct ownership involvement... and we delivered," says Anthony E. Malkin, president of Wien & Malkin Supervisory Services. "The response from the marketplace has been a massive increase in broker participation and more deals consummated with higher quality, better credit tenants. This portfolio is seeing the greatest interest and excitement since Mr. Wien and Mr. Helmsley were involved day-to-day in the business. The program is adding value to these properties and investors are beginning to see the rewards."

The buildings in the portfolio are: The Lincoln Building at 60 East 42nd Street; 250 West 57th Street (The Fisk Building); 501 Seventh Avenue; 1359 Broadway; and The International Toy Center, comprising 200 Fifth Avenue and 1107 Broadway.

The central promise made to brokers and tenants is: visit any W&H building, any business day, with or without an appointment; see buildings either upgraded or in the process of upgrade with state-of-the-art technological and comfort amenities in excellently located pre-war-style properties; enjoy the best access to major transportation facilities and amenities; and work with proactive management in close cooperation with financially rock-solid, long-term ownership, eager to get deals done under terms that make sense for all parties.

"We demonstrated the seriousness of our commitment immediately," says Mr. Malkin, who notes that refinancings made under favorable terms set the stage for property enhancements that already total more than $150 million in work that is completed. The final figure will exceed $250 million of reinvestment in the six properties.

Also right at the outset, innovative, trade-marked, incentive programs were put in place, including a leasing referral program for existing W&H tenants. "There has been an enormous outreach effort to brokers and tenants, through direct face-to-face contact, written communications, advertising, advertorials, public relations and special events," says Mr. Malkin, adding, "We asked simply to be given a chance to compete for their business."

So quickly did the W&H brand gain recognition that barely a month after the program was formally launched, The New York Times prominently included W&H in a major story about the growing importance of branding in real estate, positioning the W&H logo alongside several of the biggest corporate names in the real estate industry.

A Success By Any Measure

"By any measure, the W&H Properties brand and investment transformed properties with a less than desirable market reputation into clearly differentiated, viable alternatives for brokers and tenants alike. In year two, our focus is completing the transformation into market leadership, creating more valuable assets for their ownerships," says Mr. Malkin.

"What can we say to investors about W&H Properties?" he asks. "The same thing we tell brokers and tenants:

We Perform For You."