ARCHSTONE'S $131M KIPS BAY PLAY; THE DEAL SHEET
| An Archstone-sponsored partnership has snapped up Eastbridge Landing—a 209-unit high-rise apartment community in Kips Bay—from Madison International Realty and RFR Holding for $131M. It'll now be known as Archstone Kips Bay. | ||||
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| The building, which is located at 377 E 33rd St across from NYU Langone Medical Center, has studio and one- to four-bedroom floor plans. Cushman & Wakefield Sonnenblick Goldman's Dave Karson,Kate Pelet, Mark Ehlinger, and Michael Henry, along with Helen Hwang and Nat Rockett from C&W's investment sales group, advised the sellers. | ||||
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| SALES | ||||
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| The Kalikow Group and Waterbridge Capital purchased 30 units in three adjoining five-story buildings at 113-117 Elizabeth St for $12.6M—Kalikow's first NYC acquisition in 20 years. David Kessler repped Waterbridge in-house, while Aaron Siegel repped Kalikow in-house. The property will be managed by Kaled Management, Kalikow's operations arm.***Ariel Property Advisors sold two Upper Manhattan buildings: a 13k SF, 10-unit walk-up apartment building at 280 Manhattan Ave for $2.3M (brokers: Victor Sozio, Michael Tortorici, and Jesse Deutch); and an 8,500 SF mixed-use walk-up building at 1804 Third Ave for $1.9M (brokers: Tortorici and Sozio). *** Massey Knakal sold two properties: a 5,100 SF, five-story, six-unit townhouse at 133 E 36th St for $3M in a 1031 exchange (brokers:Michael Azarian and John Ciraulo) and a 5,800 SF mixed-use building at 138 Union St, Brooklyn for $1.8M cash (brokers:Stephen Palmese and Winfield Clifford). *** Marcus & Millichap sold the five-story, 9,600 SF mixed-use building at 307 E 85th St for $3.6M. The firm's Peter Von Der Ahe, Joe Koicim, and David Lloyd brokered the deal. *** NAI Friedland sold two properties: Wild Edibles' purchase of the 10k SF 740 Barry St, Bronx from ST 1 Realty for $1.2M (broker: Tony Lembeck); and MacQuestern Development's purchase of the 20k SF 130 Mount Vernon Ave, Mount Vernon from Cava Realty Holdings for $2M (broker: Andy Grossman). LEASES Regus signed a 52k SF lease at 112 W 34th St. CBRE's Mark Ravesloot and William Iacovelli repped the tenant, while Cushman & Wakefield's Mitchell Arkin, Kelli Mekles, and Haley Klein repped owner W&H Properties. *** The Fashion Institute of Technology inked a seven-year, 45k SF renewal and extension at 236 W 27th St. The Kaufman Org's Grant Greenspan repped the owner, while Colliers International's Perry Mesmer repped owner 236 W 27 LLC. *** Video Equipment Rentals inked a 8.5-year, 43k SF sublease from Schindler Elevator Corp at 620 Twelfth Ave. CBRE's David Hollander and Colin Meagher repped the subtenant. *** Alzheimer's Association's NYC chapter signed a 15-year, 30k SF lease at 360 Lexington Ave, doubling the size of its space in the building. JLL's David Kaplansky repped the tenant, while Cassidy Turley's David Hoffman, Robert Billingsley, and Wendy Miller repped the owner. *** | ||||
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| Skandinaviska Enskilda Banken signed a long-tem, 21k SF lease at 245 Park Ave. Cassidy Turley's Aron Schreier and Jonathan Schindler repped the tenant, while Duncan McCuaig repped owner Brookfield Office Properties in-house.***James W. Giddens, as Trustee for the SIPA Liquidation of Lehman Brothers, renewed its 20k SF lease at 100 Wall St. Cushman & Wakefield's Gus Field repped the tenant, while JLL's Mitch Konsker,Scott Cahaly, and Brian Reiver repped owner Savanna. *** American Apparel inked a short-term, 17k SF retail lease at the Chelsea Landmark luxury rental building on Sixth Avenue. Thor High Street Advisors' Chris DeCrostas repped the tenant, while Rose Associates' Bruce Spiegel and Bill Bergman repped the owner. *** 5 Columbus Circle saw two deals: Riverside Associates' 11k SF lease (tenant rep: JFW Realty Corp) and 1Life Healthcare's 5,500 SF lease (tenant rep: CresaPartners' Edward Wartels). Newmark Knight Frank's Jeffrey Rosenblatt repped the owner in both deals. *** Pelham Bay Professional Center at 3250 Westchester Ave, Bronx, saw two deals: Surgicare Ambulatory Center's 9,300 SF lease and Suma Medical Associates' 2,700 SF lease. NAI Friedland's Robin Herko, Steve Lorenzo, and David Scotto repped the tenants and landlord, The Hampshire Cos, in both deals. *** Ligne Roset signed a 9,200 SF lease renewal at 250 Park Ave South. Cushman & Wakefield's Joanne Podell repped the tenant, while Brian Feil and Randall Briskin repped owner The Feil Org in-house. *** Amida Care inked a five-year, 9,000 SF lease at 253 W 35th St. Newmark Knight Frank's Allen Gurevich repped the tenant, while Adams & Co's Alan Bonett and Nicholas Zagar repped the owner. *** Jones Lang LaSalle renewed and expanded its space at First Stamford Place, Stamford, Conn., taking a total 6,400 SF. JLL was repped in-house by Bob Ageloff, while Jeffrey Newman repped owner Malkin Properties in-house. *** Violator Management assigned its 5,000 SF lease at 36 W 25th St to Peer39. Savitt Partners' Elliot Zelinger repped Violator, while CBRE's Justin Royce and John Silva repped Peer39. *** NAI Friedland brokered two deals: United Car Care's 4,500 SF lease at 7 Intervale St, White Plains (broker: Andy Grossman; landlord: Benerofe Properties Corp) and Luanna's 1,300 SF lease at 5 W Main St, Elmsford (broker: Steve Kaufman; landlord: Tarry-Elm Associates). *** Turkish Cultural Center inked a 4,000 SF lease at 535 Fifth Ave. Prudential Douglas Elliman's Faith Hope Consolo, Joseph Aquino, and Dawn Ferrer repped the tenant, while Cassidy Turley repped the owner. *** Gateside Corp signed a five-year, 2,200 SF lease at 500 Mamaroneck Ave, Harrison. CBRE's William Cuddy Jr repped the tenant, while Jeffrey Newman, Kimberly Zaccagnino, and Tara Long repped owner Malkin Properties in-house. *** Xerox Corp signed a 2,000 SF lease at 250 W 57th St. JLL's Bill Pickrell, Douglas Neye, and Amanda Deaton repped the tenant, while Cushman & Wakefield's Mitchell Arkin, Haley Klein, Harry Blair, and Sean Kearns repped landlord W&H Properties. *** | ||||
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| Galileo Investment Management US inked a 2,000 SF lease at the Lipstick Building. The subtenant had previously been in the building as a subtenant of law firm Bragar Wexler Eagel & Squire. Grubb & Ellis' Michael Mandel repped the tenant, while Newmark Knight Frank's Scott Klau repped the owner. Herald Square Properties and IRSA International are co-asset managers.***Fay Da Bakery signed a 1,700 SF lease at Sky View Center in Flushing, Queens. Super Connections' Ricky Wong repped the tenant, while Onex Real Estate Partners repped the owner. *** Sushi-teria opened in 1,000 SF at 601 Lexington Ave. Construction of the new concept, which is in the Atrium Shops + Cafés, was handled by John Gallin & Son, while (CQ) did the design. It's the first of 30 planned outlets by restaurateur Victor Chan. The building owner is Boston Properties. FINANCING NCB FSB arranged $63M in new financing for November, including: a $11.2M first mortgage and $1M line of credit for a 132-unit co-op at 444 Central Park West (arranged by Sheldon Gartenstein); a $5.7M first mortgage and $500k line of credit for Seminole Owners Corp, a 352-unit co-op at 76-61 113th St, Forest Hills (arranged by Edward Howe); and a $2.8M first mortgage and $500k line of credit for a 75-unit co-op at 284-285 Central Ave, Lawrence (arranged by Mindy Goldstein). *** GCP Capital Group arranged over $48M in financing, including:$23.7M for a package of 10 properties comprised of 12 apartment buildings (337 units and nine stores) throughout Upper Manhattan(arranged by Adam Brostovski); $12.3M for three five-story walk-up apartment buildings totaling 52 units and four stores on the Upper East Side (arranged by Matthew Classi); and $6.3M for three five-story elevator apartment buildings totaling 81 units on Beck Street, Bronx and $4.4M for a five-story, 45-unit elevator apartment building on Davidson Avenue, Bronx (both arranged by Paul Greenbaum). *** Meridian Capital Group arranged over $44M in new mortgage financing, including: $15.5M for a 73k SF, 22-story office building on Seventh Avenue (arranged by Carol Shelby and Dani Sabesan); two mortgages totaling $11.7M on a 66-unit multifamily building on West 242nd Street and a 45-unit multifamily on Claflin Avenue, both in the Bronx (arranged by David Hayum and Moe Rosenblum);$6.5M for a 41-unit, five-story multifamily building on 64th Street, Flushing (arranged by Ami Levin); and $5M for a 10-unit, four-story mixed-use building on East 53rd Street (arranged by Shelby and Sabesan). CONSTRUCTION & DEVELOPMENT | ||||
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| Whole Foods Market began the build-out of its new 38k SF store on the ground floor of 250 E 57th St, a $700M mixed-use project being built. The World-Wide Group is the owner.BUSINESS The former US CRE arm of Louis Dreyfus Group transitioned management ownership and has been renamed Property Group Partners. It's the completion of a process begun several years ago when European-based Louis Dreyfus Group began to take steps to gradually exit the US development biz. This arm's existing management team has remained in place, with Jeffrey Sussman at the helm of the firm. EXECUTIVE MOVES Josh Lipton joined Massey Knakal as first VP of sales, focusing on West Harlem. He was previously with Latham and Watkins and held a position at First Winthrop Corp and Froesch. He's a Boston College Law School and Bucknell University grad. *** Efrat Sharon joined TerraCRG as SVP of debt financing. She was previously with Metropolitan Funding Corp and held a position at CBRE Capital Markets. She's a Tel Aviv University and Columbia Business School grad. *** Richard Vivenzio joined Thornton Tomasetti as VP in the building performance practice. He was previously with Chester, Ploussas, Lisowsky Partnership LLC and is a University of Southern Mississippi grad. *** Stephen Del Percio joined URS Corp as construction counsel, providing general legal counsel to and negotiating design and construction contracts for URS offices and projects around the country. He joins from Arent Fox and also worked at Zetlin & DeChiara. He's a Columbia and William & Mary Law School grad. *** Mark Freeman joined The TLM Group as VP of corporate interiors. He was previously at Cross NY and has been involved in major projects for NBC Universal, Rockefeller Group, New York Historical Society, and Viacom. *** Architects Georgina Lalli and Shi (Lydia) Guo joined BAM Architecture Studio. Georgina was previously with Columbia University's Graduate School of Architecture, Planning and Preservation and has held positions at various international architecture firms. She's a Columbia and University of Florence grad. Lydia joins from LMW Engineering Group, and held positions at the Newark Downtown Core Redevelopment Corp, Zeidler Partnership Architects, and DGN Construction Institute and is an NJIT and Beijing University of Technology grad. | ||||
| HOME FOR THE HOLIDAYS | ||||
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| Kaled Management VP of operations Jordan Platt and one of 41-72 Judge St's youngest residents have reason to smile: 33 displaced families from the Elmhurst apartment complex have returned after a five-alarm fire ripped through their homes in the aftermath of 2010's blizzard. (It took 200 firefighters nearly three hours to get the flames under control.) Last week, Kaled Management welcomed the residents home with a party in the building's lobby. |
