Commercial Observer's 2015 Power 100
April 29, 2015

21. Mitchell S. Steir and Michael Colacino (27)

Mr. Steir has been with Studley since 1988 and led the brokerage through its $260 million sale to London-based Savills last May, and Mr. Colacino has been president of the firm since 2002. Mr. Steir announced the deal last May, which was paid out to the 130 partners of the firm over the following three years. The longtime Studley leaders retained their role in the merger.

That wasn’t the only big move for the firm with the past year: in March it acquired the management consulting firm KLG Advisors. Its six employees, who specialize in corporate management and realignment, have since moved into Savills Studley’s headquarters at 399 Park Avenue. A Savills Studley team negotiated a 20-year lease extension and restructuring for law firm Kirkland & Ellis at 601 Lexington Avenue where it occupies more than 400,000 square feet of office space. Studley made a splash in January 2014 by representing Time Warner in its megadeal for 1.5 million square feet at Hudson Yards, along with the spun-off magazine unit, Time Inc., in its move to 700,000 square feet at 225 Liberty Street. “It will be hard to top our incredible performance in 2014,” Mr. Steir said in prepared remarks, “but we are certainly going to try.”

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