Privilege Underwriters, IFMG ink new leases
By ALEX PHILIPPIDIS :: December 18, 2006

Two new leases to report from CB Richard Ellis:

At Gateway (1 North Lexington Ave.), the 530,000-square-foot downtown White Plains office building, Privilege Underwriters Inc. will take 12,000 square feet. The lease raises occupancy at Gateway to 94 percent, says William V. Cuddy Jr., a senior vice president with CB Richard Ellis Inc. and leasing agent for Gateway. Privilege Underwriters was represented by Rick Rakow of Rakow Commercial Realty Group Inc. of White Plains.

According to the Web site of Stone Point Capital L.L.C., which is financing the company, Privilege Underwriters is a managing general agent for high net worth personal lines insurance products formed in January 2006.

Independent Financial Marketing Group Inc. (IFMG) has renewed its lease for 39,000 square feet at 100 Manhattanville Road, the 280,000-square-foot office building in Purchase. Cuddy represented IFMG; 100 Manhattanville was represented by Jones Lang LaSalle.