THE DEAL SHEET
| ||
| SALES Massey Knakal brokered four sales: three adjacent walk-up apartment buildings, totaling 56 units and one commercial unit, at 427-31 E 73rd St for $10.9M cash (broker: Guthrie Garvin); a four-story, 5,800 SF townhouse at 352 E 51 St for $2.6M cash (brokers:Clint Olsen, Hall Oster, and Dan Doherty); a two-story, 4,500 SF retail and office building at 157 E 25th St for $2.4M cash (brokers:John Ciraulo and Craig Waggner); and a 4,800 SF development site at 514 W 168th St for $1.4M cash (brokers: Rob Shapiro and James Nelson).*** | ||
 | ||
| Renaissance Properties purchased the 17k SF, 30-unit residential apartment building at 227-29 Waverly Pl (aka 184 Seventh Ave South) from Barnel Apartments for $10.7M. Eastern Consolidated’s Alan Miller and Paul Nigido, along with Massey Knakal’s James Nelson, repped the seller, while Alan and Eastern Consolidated’s Roberto Ortiz repped the buyer.*** A private investor purchased the 5,200 SF, two-unit townhome and carriage house at 249-251 E 82nd St from another private investor for $5.2M. Marcus & Millichap’s Peter Von Der Ahe, Scott Edelstein, and Seth Glasser brokered the deal. *** DelShah Capital purchased a 49% interest in 205 Chrystie St for an undisclosed price, then restructured the property ownership while the lender was foreclosing on the building and a partnership dispute was taking place among the shareholders. The five-story multifamily rental building has 13 units and a two-level, 2,500 SF restaurant/bar space. *** Simone Development Cos acquired the 24k SF Hillside Plaza retail center in White Plains from Joyce Leslie for an undisclosed price. Joyce Leslie, which anchors the center, is joined by Sleepy’s, a dry cleaner, and a deli. NAI Friedland’s Carl Silbergleit and David Scotto brokered the deal. LEASES Aircastle Advisors inked an 10-year early renewal for 19k SF at First Stamford Place, Stamford, Conn. Cushman & Wakefield’s Stephen Baker and Paul Kauffman repped the tenant, while Jeffrey Newman, Kimberly Zaccagnino, and Tara Long repped owner Malkin Properties in-house. *** FirstMark Capital signed a 11k SF lease at 100-104 Fifth Ave. Studley’s Bruce Rothman repped the tenant, while Grant Greenspan repped the owners, a JV between The Kaufman Org and Invesco, in-house. *** 1407 Broadway recently inked 15 deals totaling 20k SF, including:Top Fashion of NY’s 2,200 SF lease (tenant reps: The Kaufman Org’s Yvonne Chang and Jessica Kosaric); M&A Clothing Co’s 2,000 SF lease (tenant rep: Triboro Realty’s Suraj Advaney); Pure Elements Clothing Co’s 1,800 SF lease (tenant rep: Halstead Properties’ Jeff Yi); and Grip Collections’ 1,800 SF lease (tenant rep: The Kaufman Org’s Howard Rosenblum). Chang, Kosaric, and The Kaufman Org’s Grant Greenspan and Michael Heaner are the building’s leasing reps. *** Free People signed a 4,000 SF lease at the ground floor of Rockefeller Center’s 600 Fifth Ave, with an additional 3,000 SF in the mezzanine. McDevitt Co’s Stephen Plourde repped the tenant, and Tishman Speyer is the landlord. *** CoKinetic Systems Corp will relocate to 4,700 SF at 500 Mamaroneck Ave, Harrison. Howard Properties’ Howard Greenberg and Jon Marwell repped the tenant, while Jeffrey Newman, Kimberly Zaccagnino, and Tara Long repped owner Malkin Properties in-house. *** New York Doctors Walk-In Urgent Care leased its second location, this time in 2,700 SF at 205 Lexington Ave. A.C. Lawrence & Co’s Jean Bates repped the tenant, while Winick Realty’s Darrell Rubens, Lee Block, and Annie Shinn repped owner Somerset Management. *** Kiss It Goodbuy Consignment inked a five-year, 1,300 SF lease at 6160 Jericho Tpke, Commack, Long Island. Island Associates’Stephen McKnight brokered the deal. FINANCING Meridian Capital Group arranged over $37M in financing, including:$10.3M for three multifamily buildings totaling 100 apartment units on West 178th Street, Manhattan and Stratford Road, Brooklyn(arranged by Morris Diamant); $10M for a 35k SF retail building on Metropolitan Avenue, Richmond Hill (arranged by Carol Shelby);$6.2M for a 85-unit, six-story multifamily building on Pelham Parkway North, the Bronx (arranged by Avi Weinstock); and $4.9M for a 19-unit, five-story multifamily building on East 10th Street(arranged by Shelby and Dani Sabesan). *** GCP Capital arranged over $29M in financing, including: $14.1M for three six-story walk-up apartment buildings, totaling 86 apartments and 4,200 SF of retail space, on East 13th Street (arranged by Alan Perlmutter); $6.5M for a five-story, 28-unit elevator apartment building with 2,000 SF of retail on Waverly Place (arranged by Matthew Classi); $4.1M for a four-story, 53-unit walk-up apartment building in Port Chester (arranged by Paul Greenbaum); and $2.8M for a six-story elevator apartment building on East 176th Street(arranged by Adam Brostovski). *** Citi Community Capital, Next Street, Carver Community Development Corp, and NCIF joined Jackson Development Group to close permanent financing for 4469 Broadway, a recently completed eight-story, 85-unit residential and commercial building at West 192nd Street. The financing was structured through the New Markets Tax Credit Program; Citi provided $10.2M in equity and a $17M leverage loan for the project. CONSTRUCTION & DEVELOPMENT | ||
 | ||
| Rechler Equity Partners cut the ribbon on its new 20k SF, LEED certified office building at 85 South Service Rd, Plainview, Long Island, which houses its offices and the firm’s significant art collection. The adaptive-reuse building was a collaboration between the firm,ArrowStreet Architects, and CetraRuddy. Pictured: Nassau County IDA’s Paul O’Brien and Mary Dolan Grippo; Mitchell Rechler; Town of Oyster Bay supervisor John Venditto; and Gregg Rechler.BUSINESS Alter Group affiliate EnTrust Realty Advisors launched EnTrust Healthcare Properties to buy and manage MOBs and other healthcare assets around the country. It'll be headed by Raymond Braun and will acquire up to $100M a year, assembling and operating smaller portfolios and mid-cap assets. Raymond was previously president of McShane Medical Office Properties and has worked for CBRE and Great Lakes REIT. He’s a University of Illinois grad. EXECUTIVE MOVES CBRE promoted Paul Amrich to vice chairman, the youngest brokerage professional to achieve this highest-producer ranking. He’s been with the firm since ’06 and has been part of the firm’s top 100 producers circle ever since. He previously held a position at Cushman & Wakefield and is a Campbell University grad. *** Harbor Group International promoted Matt Jones to managing director, focusing on investments and acquisitions of multifamily assets throughout the East Coast and Mid-Atlantic regions. He’s been with the firm for 10 years and previously held a position at Legg Mason Wood Walker. He’s a Virginia Tech grad. *** Benjamin Schall joined Rouse Properties as COO. He was previously with Vornado. He’s a Harvard Business School and Swarthmore College grad. *** Kenneth Salzman joined Lee & Associates NYC as senior managing director and principal, focusing on tenant rep and corporate real estate advisory. He was previously with Newmark Knight Frank and is an NYU grad. *** Andrew Greco joined Massey Knakal as director of sales for Southern Westchester. He formerly owned Celtic Lawns and is a UCONN grad. *** Douglas Shafer joined Massey Knakal as sales team manager, working with James Nelson and his sales team. He was previously at Quest Diagnostic and held positions at Merck Pharmaceuticals and Virion Systems. He’s a Johns Hopkins and Hartwick College grad. *** Camille Renshaw and Joshua Pardue joined Stan Johnson Co to work with institutions in the acquisition and disposition of NNN properties throughout the US. Both were previously with Colliers International. |
SL Green closed on its previously announced acquisition of the 37-story, 390k SF 10 E 53rd St office building for $253M. In conjunction, the REIT sold a 45% JV ownership stake to Canada Pension Plan Investment Board, which made an equity investment of $57.4M. New York Commercial Bank is providing the JV with a five-year, $125M floating-rate mortgage financing.