OPPENHEIMER TAKES 270k; THE DEAL SHEET
| Downtown scores again! Oppenheimer & Co inked a 15-year, 270k SF lease (that’s seven floors) in the 1.1M SF 85 Broad Street. |
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| The new digs will house Oppenheimer’s corporate HQ and consolidate its primary biz lines—asset management, investment banking, and trading and capital markets divisions—into one location. The SOM-designed building, once home to Goldman Sachs, has 28 column-free office floors (37k to 39k SF) and two sub-concourse floors, perfect for large investment and consumer banks, JLL’s Cynthia Wasserberger told us last year. (We should have her predict tonight’s winning lotto numbers.) Cynthia repped the owner, a subsidiary of MetLife, along with JLL’s Peter Riguardi, Frank Doyle, and Alexis Tener. Cushman & Wakefield’s Steven Bauer and Jon Herman with JLL’s Matt Astrachan and Mitch Konsker (who started the assignment while at C&W) repped the tenant. We’ll have even more great Downtown stories in tomorrow’s issue after Bisnow’s “The World Trade Center and Future of Downtown” event at 7 WTC tomorrow (sorry folks—it's sold out). |
| Sales Transactions The Drug Policy Alliance purchased a commercial condo at 131 W 33rd St from Time Equities for an undisclosed price, where it will move its offices to 8,200 SF on the entire 15th floor. Cushman & Wakefield’s Carri Lyon repped the buyer, while Suzi Wilson and Brandon Madeiros repped the seller in-house.*** Highcap Group’s Josh Goldflam sold 90-11 through 90-21 31st Ave in Elmhurst, Queens for $1.7M. The one-story, 7,500 SF retail building has six mom-and-pop retail tenants and is 100% occupied. Lease Transactions Studley’s Daniel Posy and Joe Messina brokered two hedge fund deals: Visium Asset Management’s 40k SF lease at 888 Seventh Ave (which more than doubles its size) and Pine River Capital Management’s 25k SF lease at 590 Madison Ave. *** Plaza Construction is relocating its national HQ to 35k SF at 1065 Avenue of the Americas, where it inked a 12-year lease. Plaza and HOK Architects worked on the interior design of the new space, while Cosentini Associates was consulting engineer. Newmark Knight Frank’s Paul Ippolito and Michael Ippolito repped the tenant, while NKF’s Lance Korm an repped the owner. *** The New York Blood Center inked 29k SF worth of deals, including 26k SF at 125 Park Ave and a 2,700 SF renewal at 853 Broadway. Cassidy Turley’s David Lebenstein, Debra Wollens, Robair Reichenstein, and Edward Kent repped the tenant. *** Ithaka signed a 25k SF lease at 2 Rector St, where Stellar Management is the owner. *** Orion Consultants inked a 10-year, 10k SF lease at 230 Park Ave, sharing a floor with Simon Property Group. CBRE’s Paul Amrich and Monday Properties’ Jordan Berger repped the owner. *** CresaPartners’ Bob Stella and Justin Halpern brokered two leases:Triad Retail Media’s 5,600 SF sublease from Invision at 420 Lexington Ave (landlord rep: George Comfort & Sons’ Dennis Someck for SL Green); and WorkFlowOne’s five-year, 4,800 SF lease at 1040 Avenue of the Americas (landlord reps: Newmark Knight Frank’s Billy Cohen, Matt Leon, and Ryan Kass for Garden Homes). *** Adams & Co’s David Levy and Brett Maslin brokered over 8,700 SF in eight deals at 110 W 40th St, including: SPIRE Creative Group’s five-year, 2,500 SF expansion; Liberty Fabrics’ six-year, 1,600 SF lease (tenant rep: Savitt Partners); Beverly Brown’s seven-year,1,200 SF renewal; and IBC-PM’s six-year, 1,200 SF lease. One Ten West Fortieth Associates is the landlord. *** Adams & Co also brokered 8,600 of Midtown leases, including:Enterproid’s three-year, 2,800 SF lease at 49 W 38th St (tenant reps: Adams’ Jeffrey Buslik, Staci Goodman, and Matthew Lorberbaum; landlord reps: Newmark Knight Frank’s Ron Zimmerman and Andy Udis for Heskel’s Properties); JC Edward Corp’s 10-year, 2,400 SF lease at 185 Madison (tenant reps: Buslik, Goodman, and Lorberbaum; landlord reps: Hilson Management’s Fred Schwalbe and Jason Schwalbe); Intrepedius Group’s three-year, 2,100 SF lease at 119 Fifth (tenant reps: Buslik and Goodman; landlord rep: Adams’ Jeffrey Schwartz); and Fredericks of Hollywood’s three-year, 1,600 SF lease at 8 W 38th St (tenant reps: Buslik and James Buslik; landlord reps: Zimmerman and Udis). *** AIESEC signed a 3,500 SF lease at 11 Hanover Square. Savitt Partners’ Elliot Zelinger repped the tenant, while Mount Pleasant Management’s John Cryan repped the owner. *** Chinese news agency The People’s Daily inked a 3,000 SF office suite lease at the Empire State Building. CBRE’s Clyde Reetz and Yuan Tang repped the tenant, while Newmark Knight Frank’s Billy Cohen and Ryan Kass repped owner W&H Properties. *** SBF Industries inked a 2,100 SF lease at 530 Seventh Ave. Savitt Partners’ Marc Schoen and Michael Schoen repped the tenant, while Savitt Partners’ Bob Savitt repped the owner. *** Tracy Anderson signed a 2,000 SF lease for its fitness and aerobic brand at 903 Montauk Hwy in Water Mill, Long Island. Winick Realty’s Michael Gleicher repped the tenant, while owner Center of the Hamptons was repped in-house by Elliott Meisel and Prudential Douglas Elliman’s Lori MacGarva. *** Joyful Nails painted a 1,300 SF lease at 35 Avenue A. Winick Realty’s Tatiana Jung and Richard Smith repped the tenant. *** Aaron Basha is relocating to 1,100 SF previously occupied by the Ivanka Trump Collection at 685 Madison Ave. Prudential Douglas Elliman’s Faith Hope Consolo and Joseph Aquino brokered the deal. Financing NCB FSB originated more than $42M in new co-op loans, including: an $8.5M first mortgage for Parkview Apartment Corp, a 202-unit co-op at 117, 119, and 121 South Highland Ave in Ossining(arranged by Edward Howe III); a $6.5M first mortgage for Mitchell Gardens No. 2 Cooperative, a 419-unit co-op at 28-02 141st St,Flushing (arranged by Sheldon Gartenstein); and a $2.1M first mortgage and $500k line of credit for One Plaza Owners Corp, a 58-unit co-op on One Plaza St, Brooklyn (arranged by Mindy Goldstein). *** GCP Capital Group arranged over $38M in financing, including:$25M for a 14-story elevator apartment building with 120 units and four commercial units on St. Marks Avenue, Brooklyn and $5.5M for a three-story, 12k SF commercial building on Broadway (arranged by Adam Brostovski); and $3.5M for a six-story, 72-unit apartment building on Ocean Avenue, Brooklyn and $2.5M for a six-story, 60-unit elevator apartment building on Neilson Street, Queens(arranged by Paul Greenbaum). Construction & Development Starwood Hotels & Resorts opened new flagship hotel in Stamford, Conn., the 379-room Sheraton Stamford Hotel at 700 Main St. The hotel, which is owned by a JV of RockBridge Partners and Davidson Hotels & Resorts, underwent a multi-million dollar renovation in recent months, including a full makeover to the lobby, restaurant, and an upgrade to all guestrooms. It includes 13k SF of meeting facilities. *** Faros Properties and Gould & Co launched a multi-million dollar renovation project and leasing and marketing initiative at the 70k SF Holly Pond Plaza, 1281 E Main St in Stamford, Conn. Interior improvements, led by Perkins Eastman, include new designs for the entryway, main lobby, common corridors, elevator cabs, restrooms, and more. The building entrance will feature a new façade, canopy, signage, parking garage updates and more (designer: Eric Rains Landscape Architecture). Capital improvements will be completed by year’s end. Cushman & Wakefield is the exclusive leasing agent. Business Attorney Marc Fitapelli launched Fitapelli Law, which will focus on all areas of transactional real estate, including office and retail leases and acquisitions and dispositions of commercial and residential assets. He was previously with Gibbons and Epstein Becker & Green. He’s a St. Francis College and Hofstra grad. Executive Moves Harry Blair and Sean Kearns joined Cushman & Wakefield as senior director and director, respectively. Both joined from Colliers International. Harry also held positions at Helmsley-Notes and is a St. John’s grad. Sean was a newspaper reporter for the Los Angeles Daily News and Long Beach Press Telegram and is a University of Southern California grad. *** Gregory Bonsignore joined JLL as director of occupancy planning in the firm’s strategic consulting group, responsible for driving innovation and product enhancement within the occupancy planning practice. He was previously with Einhorn Yaffee Prescott, and is an NYIT grad. *** Larissa Belova joined The Praedium Group as AVP, heading Pradium’s investor relations operations. She was previously with the NYC Economic Development Corp and Lexington Realty Trust. She’s a Columbia and Dartmouth grad. *** Jeffrey Altman joined Houlihan Lokey as managing director of the firm’s newly formed real estate strategic advisory group. He was previously with Lazard and Arthur Andersen’s corporate finance group. He’s a Washington University grad. *** Michael Lee joined HKS Capital Partners to originate commercial mortgages and analyze and underwrite transactions. He was previously manager of a family owned organic farm in Peconic, Long Island, and worked at Cornell’s Extension Research Lab. He’s a Cornell grad. *** Mark Lindenmann and Susan Edwards joined Madison Commercial Real Estate Services as regional business directors, based in Garden City, Long Island. They’ll develop and expand MCRES’ New York and LI clients and handle the account management of commercial and residential settlement/escrow services and title underwriting. They were both previously with Titleserv National. Mark is a University of Buffalo grad. *** Richard Esposito joined Stalco Construction as an estimator, responsible for developing cost estimates for all trades, negotiations with subcontractors, bid package preparation, and value engineering analysis. He was previously with RJE Contracting, Island Contracting and Design, NRI Construction, and Conor Construction Consultant. *** Israel Berger & Associates promoted Jeffrey Somerlot to principal. Since ’03, he’s worked on many IBA projects, including 7 WTC, Silver Towers, Trump SoHo, and Millennium Tower Residences. *** MKDA promoted Edin Rudic to the newly created position of creative director, where he will oversee the firm’s design processes, provide creative vision and direction to the firm’s junior designers, manage client relationships, and create solutions to improve creative product. He’s been with the firm since ’06, and is a Pratt and School of Visual Arts grad. |
