NEW YORK (July 7, 2021) – Savills is pleased to announce that Ira Schuman, vice chairman, and Richard Eaddy, senior managing director, were the recipients of the Real Estate Board of New York’s (REBNY) Sales Brokers Most Ingenious Deal of the Year Award. Marc Shapses, vice chairman, was also an integral member of the team.

The duo was awarded the Edward S. Gordon Memorial Award for representing the National Urban League (NUL) in its historic decision to relocate its headquarters back to Harlem, the neighborhood in which it was founded over 100 years ago. The team’s submission was entitled, “Coming Home: How the National Urban League Returned to its Historic Home and Built an Impactful Community Facility.” Schuman has been the recipient of the Most Ingenious Deal of the Year Award four times in the previous 12 years, most recently for his work with the Jewish Theological Seminary.

“We are honored to be recognized by REBNY for our work on a transaction that transcended real estate,” said Schuman. “In a few short years, the National Urban League will open doors to a complex that will have a significant positive impact on the community for decades to come, and we couldn’t have been prouder to play a role in making their longstanding goal a reality.”

The NUL hired Savills as an advisor in 2011. As its headquarters lease was coming to term on Wall Street, it became apparent to the NUL that it could more closely align its real estate strategy with its core mission of economic development and the empowerment of underserved communities.

Savills outlined to the NUL’s leadership the benefits of outright ownership or the financial equivalent through a very long-term ground lease. The team also highlighted the benefits that the organization could achieve, including a real estate tax exemption, borrowing at historically low interest rates, especially on a tax-exempt basis, and the zero cost of capital to the extent donations could be generated.

The team recommended that the NUL create a 420,000-square-foot mixed-use facility to include a Civil Rights Museum to bolster local tourism and educate the youth, retail space to support the organization, affordable and supportive housing, and offices and conferencing facilities for the NUL. The project has been dubbed the Urban League Empowerment Center. The 17-story complex is slated to open in 2023 and will be located on 125th Street, between Adam Clayton Powell, Jr., Boulevard and Lenox Avenue.

“It’s no secret that the Most Ingenious Deal of the Year Award is generally considered the highest honor in New York City commercial real estate. I speak for everyone at Savills when I say that we are proud to call Ira, Richard and Marc colleagues – their tireless efforts have resulted in a legacy-defining project. They represent the very best Savills stands for,” said Janet Woods, vice chairman, director and Northeast region lead.