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THE DEAL SHEET

New York

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BIG DEAL!
Orrick, Herrington & Sutcliffe inked a 15-year, 213k-SF lease at 51 W. 52nd St. Newmark Knight Frank’s Barry Gosin and Moshe Sukenik represented the tenant, while Jones Lang LaSalle’s Peter Riguardi, Frank Doyle, Barbara Winter, and Andrew Flint represented owner CBS Broadcasting. The firm is relocating from 666 Fifth Ave.
Sale Transactions 201 LLC sold an 86-unit mixed-use apartment building at Third and E. 35th to 35 East Associates for $28M. Eastern Consolidated’s Brian Ezratty and Scott Ellard represented the seller; Eastern’s George Moss procured the buyer. The building features five retail stores ranging from 550 to 1k SF.***Massey Knakal sold three buildings: a five-story townhouse apartment building at 338 W. 77th St. for $2.1M cash (broker: Paul Smadbeck); a three-story mixed-use building at 640 Manhattan Ave. in Greenpoint, Brooklyn, for $1.6M cash (broker: Mark Lively); and a retail convenience store at 40-10 Broadway in Fair Lawn, NJ for $650k cash (seller: Zero Twenty Four Gas Station; buyer: Armo Fuel; brokers: Landon McGaw and Gregory Sans).

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Sovereign Bank sold a 2.1k-SF retail building at 246 South Ave. in Fanwood, NJ for redevelopment purposes. CB Richard Ellis’ Dean Marchi, Gehane Triarsi, and Charles Berger represented the seller. Redevelopment plans are in progress, which aim to transform this building into a mixed-use multi-family and retail complex.

Lease Transactions

Package All Corp. inked a five-year, 98k-SF direct lease at 2005 Orville Dr. in Ronkonkoma, Long Island. Prior to the lease signing, it was a subtenant in the property where it will continue to house its northeast distribution center. Atlantic Property Services’ James Dunn represented the tenant, while Harry Stavro and Robert Stein represented owner Rechler Equity Partners in-house.

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230 Park Ave. saw three renewals and expansions exceeding 44k SF, all brokered by CBRE and owner Monday Properties: Forensic Investigative Associates’ 14.5k-SF renewal and 6.7k-SF expansion (tenant broker: CBRE’s Ivan Hillman); Orion Consultants’ 5.4k-SF renewal and 2.6k-SF expansion; and Westrock Advisors’ 7.3k-SF expansion, adding to its existing 13.7k SF.

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The Patrolmen’s Benevolent Association of the City of New York signed a new 15-year lease for 39k SF at 125 Broad St. FirstService Williams’ Mark Friedman and Annie Yao represented the tenant, while CB Richard Ellis’ Mark Ravesloot, Scott Sloves, and Lisa Cear represented owner Mack-Cali.

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Montville Business Center in Pine Brook, NJ, saw five transactions totaling 31.8k SF. Colliers Houston & Co.’s Howard Weinberg,Matthew Turse, and Austin Godfrey represented owner First Industrial Realty Trust in all leases:

  • Med Graphix’s 6.1k-SF expansion (tenant brokers: Lee & Co.’s Lew Solomon and Jones Lang’s Alex Previdi);
  • Refine Technology’s 6.1k-SF HQ lease (tenant broker: SBWE’s Irv Weiss);
  • Canvas 4 Life’s 5.4k-SF HQ lease (tenant brokers: Allied Realty’s Ron Kraft and Scott Kraft);
  • Unitek’s 7.3k-SF warehouse and storage lease (tenant broker: JLL’s Steven Beyda);
  • PCR Technology’s 6.9k lease, including an expansion (tenant brokers: Weinberg, Turse, and Godfrey).

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Anthropologie signed a 16.2k-SF lease at Chelsea Market, 75 Ninth Ave. The McDevitt Co.’s Wade McDevitt and Stephen Plourde represented the tenant, while Robert K. Futterman & Associates’Robert Futterman and Karen Bellantoni represented the owner,Jamestown Chelsea Market.

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National Support Services inked a 10.4k-SF lease at 105 Maxess Rd. in Melville, Long Island. Jones Lang LaSalle’s Jim Wenk, Paul Formichelli, and Mark Leonardis represented the tenant, while Craig Weiss and Jennifer Lynch represented owner T. Weiss Realty Corp. in-house.

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Film Production company Left/Right signed a 10k-SF, ten-year lease at 39 W. 19th St. in a relocation and expansion. Miyad Realty’s Michael Rozenrouch repped the tenant, while FirstService Williams’Perry Mesmer represented the owner, Abner Properties Co.

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Dollar General signed a 10-year, 9.6k-SF lease at 2010 Kennedy Blvd. in Union City, NJ. Winick Realty Group’s Bob Weber and Lou Novick represented the tenant.

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The United Nations World Food Programme signed a 10-year,7.4k-SF lease at 733 Third Ave. Colliers ABR’s Nicky Heryet and Stephen Bellwood represented the tenant, while John Grotto represented owner The Durst Org. in-house.

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A major production house inked a short-term lease for 7k SF at 375 Stuyvesant Ave. in Bedford-Stuyvesant, Brooklyn for filming. Project17 Realty’s Waleed Cope was the sole broker in the transaction, which leased for $13.75 PSF.

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10 W. 33rd St. saw two deals: Viewmark USA’s five-year, 2.9k-SF lease, and S&L Handbags International’s five-year, 2.6k-SF lease. Adams & Co.’s David Levy exclusively brokered the transactions, which had asking rents of $39 PSF.

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Lawyers Title Insurance Co. renewed its 4.7k-SF lease at Ten Bank Street in White Plains for the third time, where they will remain until ’15. Howard Properties’ Howard Greenberg and Orion Realty Group’s Bo Hoban represented the tenant, while Jeffrey Newman and Kathleen Caracappa represented owner Malkin Properties in-house.

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231 W. 39th St. saw four transactions: Heaven Sent Too’s 2.2k-SF lease; Forum Showroom’s 1.8k-SF lease; Rudsak’s 1k-SF lease; and Rubin Associates’ 893-SF lease. Adams & Co.’s James Buslik and Jeffrey Buslik exclusively brokered the transactions, which has asking rents of $35 PSF.

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PVM Oil Associates signed a five-year, 3.9k-SF office lease at 5 Marine View Plaza in Hoboken. FirstService Williams’ Doug Rowe and Leslie Meril represented the tenants, while Glenn DiGiacomo represented owner Hoboken Associates in-house.

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Time Equities’ Michael Rudder and Michael Heller brokered two leases: E.E. Cruz & Co.’s two-year, 2.2k-SF sublease at 40 Rector St., where they represented the sublandlord, and Sogecos Spa’s five-year, 780-SF lease at 55 Fifth Ave. (tenant broker: Prime Manhattan Realty’s Omar Sozkesen). Asking rents were $39 and $62 PSF, respectively.

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Indibar Technologies signed a three-year, 1.3k-SF office lease at 510 Thornall St. in Edison, NJ. NAI James E. Hanson’s Robert Rubin represented both the tenant and owner 510 Venture.

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La Maison du Chocolat opened a 463-SF store at the entrance to the Empire State Building’s Observatory in the Fifth Avenue lobby. The Lansco Corp.’s Christine Emery represented the tenant, while CB Richard Ellis’ Andrew Goldberg, Eric Gelber, and Matthew Chmielecki represented the landlord, W&H Properties.

Construction & Development

J.G. Petrucci Co. completed two repeat projects for the Garden State Tile Co. and ICO Polymers in South Brunswick and Bloomsbury, NJ, respectively. GST’s project, at 2250 Route 130, included a new store front, renovation of the existing showroom and office area, new roof, and rebuilding and enclosing the loading dock of the 22.2k-SF building. The ICO job involved the complete restoration of an existing facility, including re-skinning and re-insulating.

Business

The Alliance for Downtown New York and the NYC Economic Development Corp. launched Hive at 55, a 4k-SF co-working facility at 55 Broad St. The office provides shared workspace and support to small businesses, freelancers, and entrepreneurs. More than 40 people can utilize the space at one time in open seating and three private workrooms.

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Prism Capital Partners launched a third-party consultation and property management service programs for commercial lenders holding distressed and/or REO assets. The new service enables loan underwriters, servicers, and offices to leverage the in-house resources of Prism.

Executive Moves

Richard Cassin joined Newmark Knight Frank’s capital group as senior managing director. He was previously with TD Bank/ Commerce, where he managed a commercial real estate portfolio of nearly $4B. He also held positions at Washington Mutual and Chase Manhattan Bank. He is a Fordham grad.

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Peter Smith joined AION Partners as principal and managing director, sourcing new investment opportunities and securing financing for the firm’s acquisitions. He was previously with Credit Suisse and was a founding member of UBS’s global commercial real estate group. He began his career at Heller Financial.

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Shane Neuringer joined Sierra Realty Corp. as SVP of acquisitions and finance, responsible for acquisitions and debt and equity finance of investment properties in the greater NY metro. He was previously with CB Developers, and has held positions at Stellar Management,Rockrose Development, and Sentinel Real Estate. He is a graduate of NYU and UC-Boulder.

Related Topics: CBRE, Colliers, JLL, Credit Suisse, Empire State Building, The Lansco Corp, Karen Bellantoni, Monday Properties, TD Bank, Peter Riguardi, NYC Economic Development Corp, First Industrial Realty Trust, Andrew Flint, Union City, Time Equities, Chelsea Market, The Durst Org, Robert Futterman, James Buslik, Dollar General, Winick Realty Group, Stellar Management, Sierra Realty Corp, Jeffrey Buslik, Frank Doyle, Mark Lively, Paul Formichelli, Michael Rudder, Craig Weiss, Sovereign Bank, Rechler Equity Partners, Andrew Goldberg, Brian Ezratty, Stephen Bellwood, 666 Fifth Ave, Howard Greenberg, Eric Gelber, Ten Bank Street, Howard Properties, Perry Mesmer, Barry Gosin, South Brunswick, Jim Wenk, Paul Smadbeck, Prism Capital Partners, Kathleen Caracappa, Prime Manhattan Realty, Rockrose Development, Mark Ravesloot, Charles Berger, Harry Stavro, Annie Yao, Chase Manhattan Bank, Barbara Winter, Michael Heller, Leslie Meril, Washington Mutual, Landon McGaw, Howard Weinberg, Scott Sloves, Robert Stein, Matthew Chmielecki, John Grotto, Dean Marchi, Doug Rowe, Ivan Hillman, Christine Emery, Heller Financial, Scott Ellard, Allied Properties, Peter Smith, Aion Partners, Mark Friedman, Omar Sozkesen, Jennifer Lynch, Fair Lawn, Sale Transactions, Stephen Plourde, Weiss Realty Corp, George Moss, Bob Weber, Matthew Turse, Petrucci Co, CBS Broadcasting, Miyad Realty, The McDevitt Co, Marine View Plaza, Glenn DiGiacomo, Irv Weiss, Lou Novick, Michael Rozenrouch, La Maison, Orion Consultants, Wade McDevitt, Alex Previdi, Steven Beyda, Stuyvesant Ave