THE DEAL SHEET
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| SALES | ||
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| Savanna took the title to the 36-story, 417k SF 80 Broad St. In conjunction, it announced the closing of a $65.3M loan through Mesa West Capital, which will finance the acquisition of the property and the $23M capital improvement campaign that will go toward building improvements, leasing commissions, and renovations to tenant spaces. Estreich & Co's Jonathan Estreich and Christopher Barnett repped ownership in the financing.*** American Realty Capital New York Recovery REIT entered into contracts to purchase two properties for $37M: four fee-simple retail condos totaling 7,000 SF at 122 Greenwich Ave (the base of the 30-unit One Jackson Square residential building) and a freestanding fee-simple 9,800 SF Duane Reade at 162-30 Cross Bay Blvd in Howard Beach, Queens. *** Massey Knakal sold three buildings: a 5,700 SF townhouse at 113 E 61st St for $8.3M cash (brokers: Guthrie Garvin and Bob Knakal); an 8,200 SF elevator loft building at 449 Washington St for $6.9M cash (brokers: James Nelson and Nick Petkoff); and a 3,400 SF townhouse at 211 W 22nd St for $3.9M cash (brokers: Brock Emmetsberger and Nelson). *** Jayvanka purchased the five-story mixed-use 82 Christopher St from Beck Street Capital for $6.1M. Massey Knakal's James Nelson repped the seller, while Halstead's Rex Gonzalez repped the buyer. *** Ankasa NYC purchased a retail co-op at 424 Broome St from A. Verglas for $3.7M. Tarter Stats O'Toole's Greg Kim repped both the seller and buyer. LEASES | ||
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| Comprehensive Care Management signed a 31k SF lease for its HQ in Tower One of Hutchinson Metro Center. This is the second major lease for the company; it has leased nearly 60k SF in the building. Simone Development Corp is the landlord.*** Style NY-Tel Aviv signed a 10-year, 12k SF retail lease at 37 W 37th St. Colliers International's Perry Mesmer repped both the tenant and landlord Abner Properties. Perry also repped Abner in Left/Right Inc's eight-year, 10k SF lease expansion at 39 W 19th St, which brings it to a total of 20k feet at the building. Miyad Realty's Michael Rozenrouch repped the tenant. *** BK Inc subleased 13k SF from The Malcolm Group, which will retail 5,300 SF at 1412 Broadway. Colliers International's Steve Chasnoff repped the subtenant, while CresaPartners' Justin Halpern and Bob Stella repped the sublandlord. *** 324 S Service Rd in Melville, Long Island saw four deals: Lincoln Land Services' 4,000 SF lease (brokers: T Weiss Realty's Ted Weiss and Craig Weiss); Bluewolf Group's 1,400 SF lease (tenant rep: NAI Long Island's Carmine Inserra; tenant rep: C. Weiss);iTv.cn's 1,250 SF lease (broker: C. Weiss); and Versa Fitness' 1,800 SF renewal (broker: C. Weiss). T Weiss Realty is the landlord. *** 110 W 40th St saw three deals: Imago Sales USA's 10-year, 4,500 SF lease (tenant rep: Norman Bobrow & Co's Norman Bobrow); Nu Image Fabrics' seven-year, 3,000 SF lease; and Jiing Sheng USA's three-year, 2,200 SF lease. Adams & Co's David Levy and Brett Maslin repped the owner. *** | ||
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| Maggy London International division Muse & Anthracite renewed its 7,000 SF lease and took an additional 3,400 SF lease at 530 Seventh Ave. Savitt Partners' Marc Schoen and Michael Schoen repped the tenant, while the firm's Bob Savitt repped the owner in the long-term lease.***532 Broadhallow Rd in Melville, Long Island saw two deals: Lexel Corp's 1,800 SF lease (tenant rep: Park Place Realty's David Chinitz) and Town Total Compounding Center's 1,800 SF lease.Craig Weiss repped owner T Weiss Realty in-house for both deals. Craig also brokered Safeguard Storage Properties' 1,750 SF renewal for the firm's 105 Maxess Rd, Melville and Clearview Building Services' 1,400 renewal at 2150 Joshua's Path, Hauppauge. *** Aboff's Paints extended its 10k SF lease at 287 Larkfield Rd in East Northport, Long Island, where it's looking to sublease half the space. Island Associates' Roger Delisle repped the owner. *** CBRE brokered three deals: Duet Asset Management's 3,400 SF lease at 400 Madison Ave; Redwood Trust's 3,300 SF lease at 1114 Avenue of the Americas; and Three Ocean Partners' 3,100 SF lease at 551 Madison Ave. CBRE's Ramsey Feher and Arkady Smolyanksy repped the tenant in the first deal, while Arkady and Roger Griswold repped the other two tenants. *** Roberta Freymann signed a 8,000 SF lease at 336 W 37th St. Savitt Partners' Michael Schoen, Marc Schoen, and Brian Neugeboren repped the tenant, while Philippe Ifrah repped owner IGS Realty in-house. *** Tarter Stats O'Toole brokered four deals: Synergy Education's 3,400 SF lease at 256 W 36th St (tenant rep: CBC Hunter Realty's Wayne Siegel and Ryan Rozins; landlord rep: TSO's Catherine O'Toole and Greg Kim for 256-26 LLC); Matta NY's 2,200 SF lease at 376 Broome St (tenant rep: TSO's Stephen Tarter; landlord rep: TSO's Kim); Catalyst Advisors' five-year, 1,600 SF lease at 18 Harrison St (tenant rep: TSO's Kim; tenant rep: ABS Partners' Amy Murawski for 18 Harrison Street Development Associates); and Gimletta Holdings' 1,400 SF lease at 462 Broadway (tenant rep: TSO's Kim; landlord reps: Legacy Real Estate's Aliza Weston and Ken Fishel for Women Make Movies). *** Ripco brokered four transactions: Ko's long-term, 1,500 SF lease 1570 Second Ave (landlord rep: Ripco's Jason Pennington and Brad Cohen for Extell); Crumbs' long-term, 1,300 SF lease at 254 Park Ave South (tenant rep: Newmark Knight Frank's Jeff Roseman; landlord reps: Ripco's Cohen and Patricia Garcia for 254 PAS Property); Energy Kitchen's 1,200 SF lease at 455 Park Ave South (tenant rep: Ripco's Cohen; landlord reps: CBRE's David LaPierre and Sean Moran for Farbod Realty Corp); and Classic Kids Photography's long-term, 1,200 SF lease at 395 Amsterdam Ave (tenant rep: Walker Malloy; landlord reps: Ripco's Pennington, Cohen, and Zach Nathan for 172 West 70th LLC). *** David Z signed a 5,000 SF lease at 815 Broadway. KEM Co's Kimberly McCullough repped the tenant, while Winick Realty Group's Lori Shabtai, Monica Kass, and Kelly Gedinsky repped owner Magnum Real Estate Group. *** Medicsight inked a 2,800 SF lease at 500 Mamaroneck Ave,Harrison. Cushman & Wakefield's Matthew Lisk repped the tenant, while Jeffrey Newman and Tara Long repped owner Malkin Properties in-house. *** Alex and Ani signed a 10-year, 1,400 SF lease at 425 West Broadway for its first Manhattan location. Newmark Knight Frank's Amira Yunis repped the tenant, while Sierra Realty Corp's Peter Levitan repped owners 609 Realty and 574 Realty. FINANCING HKS Capital Partners' Jerry Swartz and Ayush Kapahi arranged a $12M acquisition loan for a 144-unit multifamily building on Austin Street in Kew Gardens, Queens; a $6M five-year fixed-rate mortgage on an 84-unit apartment building in the Bronx; and a $5M ground-up construction loan of 50 residential units and a community facility in the Bronx. *** GCP Capital Group arranged $2.2M in financing for a 21-unit, two-story apartment building on Rockaway Ave, Brooklyn (arranged by Paul Greenbaum) and $1.8M for a 13k SF office building in Oyster Bay, Long Island (arranged by Judd Volk). CONSTRUCTION & DEVELOPMENT Industry City, the creative enclave that comprises 40 acres at Bush Terminal in Sunset Park, Brooklyn, is undergoing a comprehensive full-scale renovation of the 16-building, 6.5M SF property. This will improve upon and modernize the substantial infrastructure of the historic property; long-term renovations include repaving the street that separate the property's buildings, bulkhead renovations to the buildings that line the waterfront, installation of overhead power, and modernization of 150 elevators. Façade work is already under way. *** | ||
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| Marriott Hotels & Resorts and Host Hotels & Resorts announced a $39M renovation of the New York Marriott Marquis in Times Square. It will include upgrades to the lobby (above), two restaurants and lounges, the hotel's nearly 2,000 rooms (to be complete by spring 2012), and a new high-tech 29k SF Broadway Ballroom. The architect is ForrestPerkins.***Choice Hotels International announced the development of a new Cambria Suites Hotel in White Plains, its first partnership with Meyer Jabara Hotels. A JV between the two companies will manage the hotel. The 130-room hotel will be part of a $47M mixed-use development at 250 Main St in downtown White Plains, which includes 30k SF of new retail space and 17k SF of retail and office space in an adjoining building. Construction on the retail portion of the development is already under way, and hotel construction will begin in March '12. It's anticipated to open in September '13. BUSINESS Net lease brokerage and advisory firm Stan Johnson Co opened up a New York office at 41 Madison Ave, its fourth new office to open under its national expansion plan it announced in '09. Jason Maier and Tom Georges joined the company as associate directors; Jason was formerly with Zenith Realty Advisors, while Tom was with CoStar and S pectrus Real Estate/DSBI Securities. EXECUTIVE NEWS Eric Anton and Ron Solarz joined Brookfield Financial as managing partners, charged with growing the NY team and expanding the firm's services, including property brokerage, advisory, and investment banking. They were previously principals at Eastern Consolidated. Eric also held positions at Starrett Corp and Bovis Lendlease and is a Columbia grad. Ron held a position at Solarz Realty and is a SUNY Buffalo grad. *** Gil Robinov rejoined Murray Hill Properties' International Advisory Group as executive managing director. He was previously with NAI Global's International Advisory Group and held positions at CBRE and Sylvan Lawrence Co. And Jesse Teitel joined the firm as director, also coming from NAI Global NYC. He's a Bucknell grad. *** David Leviton joined CBRE's Long Island office as SVP. He was previously with Cushman & Wakefield and is a SUNY Stony Brook grad. *** Lex Blakeley-Glover and Louis DiRosa joined VVA as associate project managers. Lex was previously with EC Harris in the UK, where he led and managed project teams for projects like a $190M flagship hotel in Central London. Louis worked at Delta Fountains in Jacksonville, Fla., and provided project management support for the National September 11th World Trade Center Memorial project. *** L&L Holding Co promoted Kevin Fallon to SVP. He's been with the firm since '07 and oversees legal aspects of acquisitions, development, and operations for the company and its portfolio. Prior to joining L&L, he was with Paul Hastings and a hotel/condo development firm. He's a Boston University and Fordham Law grad. |
