GHOSTS OF BISCOTTI; THE DEAL SHEET
| Perhaps it was the leftover whiffs of margherite cookies or roasted garlic breadsticks. Metropolitan Realty Associates and Angelo, Gordon & Co snapped up the former Stella D’oro Bakery site at 184-190 W 237thSt in the North Bronx for $18.8M. | ||
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| The new owners are planning a 162k SF shopping center anchored by a national wholesale club at the 5.2-acre site, which is bounded by Broadway, Major Deegan Expressway, and West 238th Street (right now, the site is occupied by the two-story factory and one-story garage/retail complex). The deal comes two weeks after the JV sold 1000 Stewart Ave in Garden City, Long Island to David Werner and Carlton Associates for $39.3M—a vacant pharma plant it turned into a modern mixed-use property with tenants like Lifetime Brands and Nassau Community College. It also owns 711 Stewart Ave, a 335k SF office building being transformed into a mixed-use complex with a 121k SF BJs Wholesale Club. Massey Knakal’s Karl Brumback and Josh Rubin brokered the deal. | ||
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| SALES TRANSACTIONS Samson 51 LLC purchased a 4,000 SF retail condo at 11 W 51st St(at the base of the Jewel Hotel) from 11 West 51 Realty for $17.5M. Robert K Futterman & Associates’ Jeff Fishman, Mark Kapnick,Brian Segall, and Jonathan Butwin brokered the deal. In a separate transaction, Mark arranged the 4,000 SF lease of Spanish tapas restaurant Lizarran on behalf of Masterworks. *** Massey Knakal sold three properties: two adjacent, mixed-use buildings at 450-452 Amsterdam Ave for $8.1M cash (brokers: Hall Oster and Paul Smadbeck) and a development site at 2439-45 86th St, Brooklyn for $1.7M cash (brokers: Jeffrey Shalom and Mendy Inglis). *** A developer purchased two tax lots with frontage on Flatbush Avenue and Lincoln Road in Brooklyn for $6.5M. The site, which was originally slated for a 32-story glass condo tower, will now be repositioned into a mixed-use, 140-unit rental project. TerraCRG’s Ofer Cohen, Melissa DiBella, Peter Matheos, and Michael Hernandez brokered the sale. *** PD34 LLC purchased the 16-unit apartment building at 83-05 34th Ave, Jackson Heights from 83-05 34th Avenue LLC for $2.3M. Rosewood Realty Group’s Michael Guttman repper the seller, while the firm’s Aaron Jungreis repped the buyer. *** King Penguin Properties purchased the five-story, 10-unit 422 St. Nicholas Ave in Central Harlem for $1.8M. Ariel Property Advisors’Victor Sozio brokered the deal. LEASE TRANSACTIONS | ||
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| ABN AMRO Holdings USA inked an 11-year, 32k SF lease at 100 Park Ave. JLL’s Chris Kraus and Mercedes Fernandez repped the tenant, while Cushman & Wakefield’s Peter Alden and SL Green’s Larry Swiger repped owner SL Green.***Western Beef signed a 28k SF deal at 605 Woodfield Center, Hempstead, Long Island for an aggregate rental of $4M. Island Associates’ Roger Delisle and John Messineo repped both the tenant and landlord. *** Cicatelli Associates inked a long-term, 25k SF renewal and expansion at 505 Eighth Ave. Studley’s Marc Shapses, Jason Schwartzenberg, and Joe Messina repped the tenant, while Newmark Knight Frank’s Eric Gural and Allen Gurevich repped owner Newmark Holdings. *** Uniqlo inked a 12k SF temp lease through fall at 155 Fifth Ave. The Lansco Corp’s Christine Emery and Yair Staav repped the tenant, while Robert K Futterman & Associates’ Karen Bellantoni and Brandon Singer, along with Eretz Group’s Melissa Rose, repped the landlord. *** Swiss Post Solutions inked a 11k SF lease at the Falchi Building,31-00 47th Ave, Long Island City. Midtown Commercial Realty repped the tenant, while Kalmon Dolgin Affiliates’ Jeffrey Unger repped the owner. *** 100 Church St saw three long-term retail deals: Aroma Espresso Bar’s 4,400 SF lease (tenant rep: DLL Real Estate’s David Latman);Pret A Manger’s 2,500 SF lease (tenant reps: Newmark Knight Frank’s Jeffrey Roseman and Ben Birnbaum); and Anne Frank Center’s 2,500 SF lease (tenant rep: S. Sunshine & Associates’Suzanne Sunshine). Robert K Futterman & Associates’ Ariel Schuster, Michael Worthman, and Ross Berkowitz, along with SL Green’s Larry Swiger and Elaine Anazagasty, repped the landlord. ***
*** Sur La Table took 6,200 SF at Hearst Tower for a flagship store that will open later this year. *** | ||
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| Panera Bread signed a 6,000 SF lease at 452 Fifth Ave. The owner is IDB Group. ***112 W 34th St saw two deals: Acess.1 Communications Corp’s 4,200 SF prebuilt (tenant rep: Wharton Property Advisors’ Ruth Colp-Haber) and SolArc’s 1,100 SF lease (tenant rep: JLL’s Chad Beck). Cushman & Wakefield’s Mitchell Arkin, Kelli Mekles, and Haley Klein repped owner W&H Properties. *** SOS Security locked in a long-term, 3,000 SF lease at 561 Seventh Ave. Newmark Knight Frank’s Allen Gurevich repped the tenant, while Handler Real Estate Org’s Scott Galin and Peter Simel repped the landlord. *** Polarn O. Pyret inked a 10-year, 2,600 SF lease at 200 Chambers St for its first NYC store. The Lansco Corp’s Robin Abrams repped the tenant, while Dennis Brady and Fran Delgorio repped owner Jack Resnick & Sons in-house. FINANCING NCB FSB originated $108M in new loans for 21 co-op properties, including: a $50M first mortgage for Rivercross Tenants Corp, a 365-unit co-op at 531 Main St, Roosevelt Island (arranged by Mindy Goldstein); a $10M first mortgage for The Townsend House Corp, a 96-unit co-op at 176 E 71st St (arranged by Sheldon Gartenstein); and a $9.5M first mortgage for Bryant Gardens Corp, a 409-unit co-op at 1-15 Bryant Crescent, White Plains (arranged by Edward Howe III). *** GCP Capital Group arranged nearly $40M in five deals, including:$17M for a five-story, 111-unit elevator loft building on Taaffe Place, Brooklyn (arranged by Adam Brostovski); $13.2M for nine two-story garden apartment buildings totaling 148 units in West Babylon, Long Island (arranged by Matthew Classi); and $4M for a six-story, 84-unit apartment building on West 10th Street, Brooklyn, and $2.7M for a one-story retail taxpayer building with 10 stores on Merrick Boulevard in Queens (both arranged by Paul Greenbaum). *** Meridian Capital Group arranged nearly $35M in six deals, including: a $10.6M new mortgage for a 36-unit, nine-story multifamily building on Park Avenue South and $5.5M new mortgage on a 39-unit, six-story multifamily building on Westminster Road, Brooklyn (both arranged by Allan Lieberman); and a $7.7M new mortgage on a 40-unit, five-story multifamily building on MacDougal Street and $5.9M new mortgage on an 86-unit, six-story multifamily building on East 18th Street, Brooklyn (both arranged by Carol Shelby and Dani Sabesan). EXECUTIVE MOVES CBRE promoted Matt Van Buren to president of the New York Tri-State region. He joined the firm in ’06, and previously served as executive managing director, overseeing the Midtown brokerage division and activities relating to the firm’s operations at its 200 Park HQ. He’s a SUNY Albany grad. *** Matthew Holberton joined AREA Property Partners as VP, supporting the firm’s marketing, capital raising, and investor relations activities. He was previously with Allied Realty, and held positions at St. Charles Town Co, Black Creek Capital, and Merrill Lynch. He’s a Columbia and Bucknell grad. *** Gerard Picco joined UGL Services as SVP of brokerage and client advisory services. He was previously with CresaPartners, and also held a position at Mohr Partners. He’s a SUNY Fredonia grad. *** Colin Shinners joined Gaia Real Estate as investment manager and asset manager. He was with the firm for a year as a real estate intern, and held a position at KPMG. He’s a Columbia and SUNY Binghamton grad. |
