THE DEAL SHEET
| Sales Transactions |
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| A partnership between Vision Equities and Rubenstein Partnerspurchased the 194-acre former Alcatel-Lucent campus at 67 Whippany Rd in Whippany, NJ for an undisclosed price (although it was recently assessed by Hanover Township for over $42M.) Cushman & Wakefield’s David Bernhaut, Robert Donnelly Jr, andRobert Donnelly brokered the deal. The new owners plan to redevelop the property into a mixed-use campus with Class-A office, residential, retail, hospitality, and seniors living, and may renovate and reuse the current 500k SF of office and lab space.***Besen & Associates’ Amit Doshi closed on the sale of a portfolio of10 multifamily buildings, which contain 239 apartments and 25 stores in Northern Manhattan and the Bronx, for $22.3M. The buildings are located at 2100-2102, 2009-2011, 1619-1623, 1625-1635, and 1461 Amsterdam Ave; 646-50 W 160th St; 615-617 W 152nd St; 83-87 Audubon Ave; 554 E 149th St;1911-1915 Southern Blvd; and 265 E 176th St. The portfolio mainly consists of walk-upbuildings, except the elevatored 1619-1623 and 1625-1635, and average $990/month in rent.*** Highcap Group’s Christen Portelli sold 21 E 26th St (aka 16 E 27th St) for $13.5M. The property was delivered mostly vacant and the new ownership plans to convert it into luxury condos (the conversion project is scheduled to appear on Bravo’s Million Dollar Listing). *** Silverstone Property Group purchased 157 Suffolk St, a six-story, 22k SF residential apartment building with 33 units and two retail stores, for $8.8M cash. It plans to renovate the building to create ahigh-end boutique residential rental property, and lease the vacant retail space. Silverstone was repped in-house by Martin Nussbaumand Steven Figari. *** Time Equities purchased 153 and 155 E 37th St for $3.65M. The buildings have 17 apartments, which TEI will manage. Marcus & Millichap’s Christopher Sjurset and Bold New York’s Todd Jacobsrepped the seller, while Hy Schermer repped TEI in-house. *** Marcus & Millichap sold three properties: the Inn at the Blue, a 29-room boutique resort hotel in East Marion, Long Island, for $2M(seller reps: Steven Stoehrer, Christopher Marks, and Sean Mooney; buyer rep: Ken Hoff); a mixed-use building at 1966 Seventh Ave for $1.8M (brokers: Peter Von Der Ahe, Scott Edelstein, Sean Lefkovits, and Seth Glasser); and Fulton Street Retail, a 9,000 SF retail strip at 2862-2872 Fulton St in Brooklyn for$1.3M (brokers: Preet Sabharwal and Stoehrer). Lease Transactions Credit Suisse signed a six-year, 48k SF lease expansion at 315 Park Ave South, where it will occupy an additional three floors in the building. BCN Development is the owner. *** UniNet Imaging inked (or laser printed) a 40k SF lease at 721-725 Broadway Ave in Holbrook, Long Island. Ashlind Properties’Richard Cohen and Ashley Cohen repped the tenant, while Colliers International’s Michael Schefren repped owner Long IslandIndustrial Management. *** Apollo Health Street inked a 10-year, 35k SF office lease at theAllwood Atrium, 2 Brighton Rd in Clifton, NJ. Cushman & Wakefield repped the tenant, while DSR Group repped ownersCapstone Realty and KABR Real Estate Investment Partners. *** |
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| Three for the Empire State Building: Baum-Essex-Crossroads’ 12k expansion to 17k SF (tenant rep: CBRE’s Ross Zimbalist); Turkish Airlines' 5,863 SF lease (tenant reps: ITRA/New York Realty Group’sAlbert Duryea and Tina Duryea); and Enclos Corp’s 2,845 SF renewal (tenant rep: CBC Hunter Realty’s Richard Pugatch). Newmark Knight Frank’s Billy Cohen, Ryan Kass, and Lauren Davidson repped owner W&H Properties.***Pegalis and Erickson renewed its 9,800 SF lease at 1 Hollow Ln inNew Hyde Park, Long Island. CBRE’s Larry Weiss and David Zelinski repped the tenant, while Debbie Cox repped owner M. Parisi & Son Construction Co.*** Pantheon signed a 10-year, 9,380 SF lease at 1095 Avenue of the Americas. CBRE’s Keith Caggiano, Howard Fiddle, and Arkady Smolyansky repped the tenant, while CBRE’s Robert Alexander,Scott Bagetti, Zach Freeman, Brian Hay, and Robert Stillmanrepped the landlord. *** BLSTEL Holdings inked a five-year, 7,720 SF deal at 500 Mamaroneck Ave in Harrison, NY for its HQ. Signature Group’sNick DeLuca and Mark Jacobs repped the tenant, while Jeffrey Newman and Kimberly Zaccagnino repped owner Malkin Properties in-house. *** The lights are much brighter at 570 Seventh Ave for Theatrical Rights Worldwide, which expanded and took 3,940 SF at the building. CBC Hunter Realty’s Laurence Landis repped the tenant, while Stuart Christie repped owner Silverstein Properties in-house. Down the street, 499 Seventh saw two deals: TelAmerica Media’s 3,200 SF lease, and Concessi Engineering’s 4,800 SF lease (tenant reps: Intrepid Real Estate’s David Menaged and Jack Senior). Savitt Partners’ Alicia Popper and Carol Sacks repped owner 499 Fashion Tower LLC. *** Adams & Co brokered 11 Midtown leases, among them: 360 NYC Sweater Co’s five-year, 2,184 SF lease at 231 W 39th St (tenant rep: Newmark Knight Frank’s Ken Kronstadt; landlord reps: Adams’James Buslik and Jeffrey Buslik for 231/249 West 39 Street Associates); Underwraps Costumes’ three-year, 1,441 SF lease at1115 Broadway (brokers: Buslik, Buslik, and Nick Zagar; landlord: Eleven Fifteen Associates); Kathy Walker Showroom’s five-year, 1,392 SF renewal at 231 W 39th St (brokers: Buslik and Buslik); andCrowley Design Group’s three-year, 1,306 SF lease at 463 Seventh Ave (broker: David Levy; landlord: The Arsenal Co). *** Daily Mail/Associated Newspapers inked a four-year, 5,200 SFlease at 42-44 Greene St. CresaPartners’ Jamie Addeo repped the tenant, while owner Zar Property NY was repped in-house. *** Fruit importer Pacific Group Holdings went bananas for Newark’sMilitary Park Building at 60 Park Pl, taking 5,000 SF in a relocation from Staten Island. The Berger Org is the landlord. *** Omimi & Associates signed a six-year, 2,320 SF lease at 80 Broad St. Viscus Partners’ Sadal Ali repped the tenant, while Todd Korrenand Newmark Knight Frank’s Hal Stein, Mike McKenna, and Todd Stracci repped owner Swig Equities. *** Jay Kos Corp is relocating from Park Avenue to 1,300 SF at 293 Mott St for 10 years. Sierra Realty Corp’s Peter Levitan repped the tenant, while Newmark Knight Frank’s Jason Pruger and Ross Kaplan repped owner 55 Houston Realty. Financing GCP Capital Group placed $53.9M in mortgage financing for a portfolio of seven apartment buildings containing 127 units, 14 stores, and one office in the East Village. The firm’s Matthew Classi arranged the financing. *** NCB FSB arranged $51M in new loans, including: a $6M first mortgage and $1M line of credit for Garth Woods Owners Corp, a 198-unit co-op at 235 Garth Rd in Scarsdale (arranged by Edward Howe III); a $5M first mortgage and $1M line of credit for a 155-unit co-op at 444 E 75th St (arranged by Sheldon Gartenstein); and a$3.2M first mortgage for a 38-unit co-op at 255 W 90th St (arranged by Mindy Goldstein). *** Meridian Capital Group arranged $16.8M in new mortgage financing, including: $7.4M for a 123-unit multifamily building onHampden Pl in the Bronx (arranged by Morris Diamant and Jacob Rochlitz); $2.6M for a five-story, mixed-use building on E 37th St(arranged by Dovid Ostrov and Mindy Bergman); $2.5M for a 41-unit multifamily building on University Ave in the Bronx (arranged byAllan Lieberman); and $1.6M for a 20-unit multifamily building on St. Mark’s Pl (arranged by Diamant). Construction & Development Anbau Enterprises broke ground on a 16-story condo building at126 W 23rd St, the first new residential development in Manhattan to commence construction this year. The BKSK Architects-designed building will contain 34 studio, one- and two-bedroom, and penthouse condo units, as well as 4,000 SF of retail. It’s scheduled for ’12 completion. *** |
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| The Hebrew Institute of Riverdale’s new 35k SF, $9M building at3700 Henry Hudson Pkwy, which included a 24k SF addition and renovations to the 11k SF existing building, is completed. The team included Mc Gowan Builders, SLCE Architects, Horizon Project Advisors, DeNardis Engineering, and DiBari Engineering.***Russo Development is building a data center development known as Somerset Technology Park on a 71-acre land parcel near Exit 12 on I-287. The greenfield site can yield over 1.3M SF of developable area in multiple facilities. This is Russo’s ninth data center development in the past decade. Work will commence in Q2 and delivery of the first facility is scheduled for the second half of '12. Business CBRE brought its data center and critical environment work across the enterprise under a single entity, the CBRE Critical Environment Practice, which will consist of transaction management, facilities management, and project management specialties. Mitch Harris is the director of the practice. *** Swig Equities purchased clean, renewable energy for 80% of its commercial office buildings in the Financial District, signing a one-year contract with Green Mountain Energy Co to provide green electricity from sustainable sources, like wind. Executive Moves Shawna Menifee joined JLL as EVP, responsible for cultivating new business relationships throughout the US, with an emphasis on the NY metro. She was previously a senior director of a leading brokerage team, where she oversaw 1M SF in tenant representation and agency leasing assignments, and also worked for CBS. She’s aMichigan State and NYU grad. *** Garrett Thelander joined Massey Knakal as managing director, spearheading the firm’s capital services entrance. He was previously with Anglo Irish Bank, and held positions at Kimco Realty Corp, Euro Hypo, Deutsche Bank, and UFJ Bank. He’s aHarvard grad. *** Brian Keatts joined Zetlin & De Chiara as associate principal. He was previously with McElroy, Deutsch, Mulvaney & Carpenter, and is an experienced litigator in the state and federal courts of NY and NJ. The law firm also promoted Jaimee Nardiello to associate principal and Alexander Kipnis to senior associate. *** Joanne Cimiluca joined Studio 5 Partnership as director of marketing and business development. She was previously with theBergen County Economic Development Corp and Bernard Hodes Group. She’s a Rutgers grad. *** Gregory Rapp joined Russo Development as project engineer, responsible for the engineering and entitlement of Russo’s development projects including preparation of permit applications, reports, and interaction with government agencies. He was previously with Azzolina & Feury Engineering and Maser Consulting. He’s aRutgers grad. The firm also hired Carmen Andrade as associate general counsel, providing ongoing legal services. She was previously with KSI Capital Corp, and is a New York Law Schooland Montclair State University grad. |
