THE DEAL SHEET
| Sales Transactions The 176-unit Cooper Landing Apartments in Cherry Hill, NJ, sold to a private investor for $13.5M. Gebroe-Hammer Associates’ Joseph Brecher and Joel Schwartz represented both the buyer and the seller, The Orbach Group. The sale was part of a 1031 exchange.*** Massey Knakal closed five transactions: a 4.2k-SF community facility at 150 Kenilworth Pl. in Flatbush, Brooklyn to a neighborhood developer and retailer for $900k cash (broker: Eric Greenfield); a 9.3k-SF residential development site at 1117 Intervale Ave. in the Bronx for $850k cash (broker: David Simone); a 10.9k-SF commercial building at 1345-47 Cromwell Ave. in the Bronx for $463k cash (broker: Simone); and two office buildings at 372 and 378 Willis Ave. in Mineola, Long Island, for $1.2M cash (broker: Nalini Chugh). *** Marcus & Millichap sold the 3.9k-SF mixed-use 481 7th Ave. in Brooklyn for $1.5M. The firm’s John Horowitz and Matthew Fotis represented both the seller and private-investor buyer. *** CB Richard Ellis’ Private Client Group completed the sale of two NJ bank facilities: the 14.1k-SF 2 North Ave. in Cranford and the 11.3k-SF 460 Park Ave. in Scotch Plains for $1.2M. CBRE’s Dean Marchi and Gehane Triarsi represented the seller, Gramercy Capital Corp. The respective buyers were a real estate company and local investor. Lease Transactions L'Occitane inked a 15-year, 21.3k-SF lease for the entire second floor of 1430 Broadway, to be its North American HQ. The space features a private escalator and lobby signage. Newmark Knight Frank's Dan Segal represented the tenant, while Newmark's Ricky Kramer and Ken Kronstadt represented owner Steinberg & Pokoik. *** D.H. Blair Investments signed a 15.8k-SF lease at 44 Wall St. The Lawrence Group’s David Ofman and Brian Siegel represented the tenant, while Todd Korren represented owner Swig Equities in-house. *** 477 Madison Ave. saw two relocations: Wyper Capital Management’s three-year, 5.7k-SF lease, and CRG Partners’ seven-year, 8k-SF lease. Centric Real Estate Advisors’ Lindsay Orenstein represented Wyper, while Wharton Property Advisors’Ruth Colp-Haber represented CRG. Colliers ABR’s David Hoffman and Wendy Miller and Cooley, Godward & Kronish’s Shira Nadich Levin represented the owner, J.A.B. Madison Associates. *** Ideal Properties Group brokered four Brooklyn leases: Sculptured Flame’s five-year, 2.4k-SF lease for a web design school at 298 Bond St. in Boerum Hill (broker: Maria Sartori-Spencer); a Carroll Gardens bar owner’s 10-year (with five-year option), 1.8k-SF lease for a full-liquor bar at 543 Third Ave. in Gowanus (broker: Martine Shandles); LV Technologies’ three-year, 3k-SF warehouse lease at 228 48th St. in Sunset Park (broker: Brad Einhorn); and Shalhevit Deutch’s 10-year lease for a sports lounge at 895 Fulton St. in Fort Greene. *** Ladder Capital Finance inked a 6.5-year, 8.8k-SF lease at 600 Lexington Ave. Newmark Knight Frank’s James Saunders and Noel Flagg and Centric REA’s Mimi Hockman represented the tenant, while Jones Lang LaSalle’s Barbara Winter and Douglas Neye represented owner Hines. *** 10 W. 33rd St. saw four transactions, all brokered by David Levy of Adams & Co: Silver Rock’s nine-year, 4.4k-SF lease; Claudio Nucci’s six-year, 2k-SF lease; E Chabot’s four-year, 902-SF lease, and I Love Accessories five-year, 882-SF lease. Although the leases’ terms were not disclosed, asking rents ranged from $39 to $40 PSF. *** Endurance U.S. Holding Corp. leased 6.3k SF at 300 First Stamford Pl. in Stamford, Conn. Madison Partners’ Bradley Feld and Gretsch Commercial Real Estate’s Richard Gretsch Jr. represented the tenant, while Jeffrey Newman and Kimberly Zaccagnino represented owner W&M Properties in-house. W&M Construction Corp. will build out the tenant’s space. *** The CarbonNeutral Co. is relocating and expanding through an eight-year, 5k-SF sublease at 10 E. 40th St. It will move its North American regional office from 2k SF of space at 527 Madison Ave this month. The Lansco Corp.’s Howard Dolch and Nick Zarnin represented the tenant, while Newmark Knight Frank’s Chris Mongeluzo and Eric Zemachson represented the sublessor. *** Blue Fish Commodities signed a one-year, 5k-SF renewal at 80 Broad St. Tenant representation was not disclosed, but Todd Korren represented owner Swig Equities in-house. *** Cleo & Patek signed a long-term 1.4k-SF retail lease at 425 Broadway. Baron Realty’s Shelley Finkelstein represented the tenant, while Sierra Realty Corp.’s James Wacht, Peter Braus, and Peter Levitan represented the owner, 609 Realty LLC. Both Peters also secured a five-year, 2.2k-SF lease for Terra Plana at 254 Elizabeth St., representing both the tenant and owner KGS Elizabeth. *** Drabkin & Margulies inked a five-year, 2.8k-SF lease at 120 Broadway. The Kaufman Org.’s Elliot Warren and Rafael Reihanian represented the tenant, while Silverstein Properties’Stuart Christie represented the owner. *** Hudson Institute signed a one-year, 2.5k-SF renewal at 90 Broad St Newmark Knight Frank’s Eric Zemachson and Chris Mongeluzo represented the tenant, while Todd Korren represented owner Swig Equities in-house. *** Tasti D-Lite signed a long-term, 1.2k-SF retail lease at 110 Newark Ave. in Jersey City. NAI James E. Hanson’s Michael Jamgotchian represented the tenant, while Twill Realty’s George Twill represented owner SK Properties. Financing National Consumer Cooperative Bank arranged $22M in new loan originations, including $14.2M in mortgages and $7.8M in lines of credit for 13 local properties. The largest was a $4.2M first mortgage and $500k line of credit for a 124-unit co-op at 207 E. 74th St., arranged by Edward Howe III. Other transactions included a $3M line of credit for The Estates at Bayside Owners, a 479-unit co-op at 67-83 223rd Pl. in Bayside, Queens, arranged by Mindy Goldstein, and a $1.6M first mortgage and $600k line of credit for the 27th Street Apartments Corp., a 52-unit co-op at 250 W. 27th St., arranged by Sheldon Gartenstein. *** CBRE Capital Markets’ Keith Braddish, Jason Gaccione and Rayna Karaivanov arranged a $6M fixed-rate first mortgage on behalf of Time Equities to refinance 9-15 Dutch St.’s loan. The non-recourse loan was arranged in-house by CBRE Multifamily Capital with a five-year term on a 30-year amortization schedule at 5.57% *** Holiday Fenoglio Fowler arranged a $4.9M refinancing on behalf of The Tower Management Co. for Tower Spring Gardens II, a multifamily complex at 851 Springfield Ave. in New Providence, NJ. The firm’s Tom Didio placed the five-year, fixed-rate loan with a regional bank, and proceeds were used to take out an existing construction loan. ALSO AROUND NEW YORK... Exec Moves Amy Luparella Boyle rejoined ING Clarion Partners as SVP and CFO of one of the firm’s core-strategy products, after three years as VP and controller at GoldenTree InSite Partners. During her previous tenure at ING, she held several positions on the core-strategy portfolio team. She holds degrees from SUNY Plattsburgh and NYU. *** Bill Miller joined Jones Lang’s Retail Outsourcing Group. He was previously with Starbucks, responsible for strategic real estate development and asset management in the New York metro. He is a graduate of the University of Wisconsin. *** Steven Rock was named director of Marcus & Millichap Capital Corp.’s Manhattan office. Prior to joining MMCC, he was an SVP at the Carlton Group and held an advisory role at Citigroup Private Bank, responsible for managing more than $500M in assets. |
