THE DEAL SHEET
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| SALES Massey Knakal brokered four deals: a three-building multifamily portfolio totaling 154 apartments and 157k SF at 350 Empire Blvd,441 Brooklyn Ave, and 305 E 34th St, Brooklyn for $18.1M (brokers:Bob Knakal and Michael Amirkhanian); a three-building portfolio at 175-177 and 178 MacDougal St for $11.4M (broker: James Nelson); a seven-story, 15k SF apartment building at 183 Columbia Heights, Brooklyn for $6.6M (brokers: Knakal and Stephen Palmese); and an 8,000 SF vacant lot with a 6,000 SF building at 1621-29 61st St, Brooklyn for $1.7M (brokers: Jeffrey Shalom and Brian Hanson). *** Besen & Associates brokered four deals: apartment buildings at 245 Seaman Ave and 570 Isham St, Inwood for $6.7M (seller rep: Fenwick Keats’ Will Rogers; buyer reps: Besen’s Amit Doshi and Lynda Blumberg); a 27-unit, four-store elevator building at 3511 Dekalb Ave, Bronx for $4.4M (broker: Doshi); a four-story, 38-unit apartment building at 36-40 Linden St, Brooklyn for $3.8M (broker:Lev Mavashev); and a the 71-unit, five-store 2150 Wallace Ave, Bronx for $8.6M (seller reps: Doshi and Blumberg; buyer rep: Ronnie Shaban). *** | ||
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| An international group purchased three adjoining buildings at 546-52 W 146th St, West Harlem from Harlem 546-146 Associates for $8.9M. The portfolio totals 70 units and 46k SF. CitiHabitats’ Carlota Sosa and Mark Griffith repped the buyer, while Ariel Property Advisors’ Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Deutch repped the seller.***United American Land purchased the 50k SF Brooklyn Municipal Building (210 Joralemon St) for an undisclosed price and has begun negotiations with retailers to occupy the 180 feet of frontage on Court Street. Ripco’s Peter Ripka is leasing the space, which is expected to be fully occupied by the end of 2013. | ||
| LEASES US Bank National Association renewed its 28k SF lease at 100 Wall St for another seven years. Cushman & Wakefield’s Michael Burlant and Bernhard Weinstabel repped the tenant, while JLL’s Mitchell Konsker, Scott Cahaly, and Brian Reiver repped owner Savanna.*** Spector Group is relocating to 13k SF at 183 Madison Ave. *** Turtle & Hughes inked a five-year, 13k SF lease at Atlas Terminals’ Building 36. Right Time Realty’s Joe Ibrahim repped the tenant, while Neil Adamson repped owner A TCO Properties & Management in-house. *** AHQ signed a six-year, 10k SF lease at the Fashion Accessories Center (10 W 33rd St). Adams & Co’s David Levy repped both the tenant and owner, Ten West Thirty Third Associates. *** High 5 Games signed a 9,000 SF lease at 50 W 23rd St, which is owned by Two Trees Management Co. *** Carrier signed a 6,000 SF lease at 1350 Broadway. Cushman & Wakefield’s David Itzkowitz repped the tenant, while Newmark Grubb Knight Frank’s Robert Silver, Anthony Sciacca, and Neil Rubin repped owner W&H Properties. *** Regeneration Finance signed a 10-year, 4,100 SF lease at 300 First Stamford Pl, Stamford, Conn. Newmark Grubb Knight Frank’s Brian Carcaterra and Paul Gojkovich III repped the tenant, while Jeffrey Newman, Kim Zaccagnino, and Tara Long repped owner Malkin Properties in-house. *** Network Showroom signed a 2,000 SF lease at 545 W 25th St. Lansco Corp’s Lisa Rosenthal repped the tenant, while Besen Retail’s Hilly Soleimon repped owner The Nasso Daphnis Family 2000 Trust. Hilly also repped Environment Furniture in its 2,100 SF lease at 352 Bowery (landlord rep: RKF’s Zach Winkler for Three To Get Ready LLC). *** Swarovski inked a 2,100 SF lease at 365 Madison Ave for its eighth Manhattan location. RKF’s Robert Cohen and Jaclyn Totolo repped the tenant, while RKF’s Gary Alterman and Pamela Haber repped owner RHC Operating. *** Imperial Parking signed a 15-year, $6M lease for a 99-space garage at 215 E 24th St in Gramercy Park. Eastern Consolidated’s Adelaide Polsinelli repped the tenant as well as owner Penny Lane Cooperative. FINANCING Meridian Capital Group arranged over $87M in financing: $39M for a 14-building portfolio in Upper Manhattan (arranged by Morris Diamant); $31M for a 71-unit, 14-story multifamily building on West 88th Street (arranged by Carol Shelby and Dani Sabesan); $8.7M for a 33k SF office building on East 58th Street (arranged by Aaron Appel and Keith Kurland); and $5.2M for a 38-unit, six-story multifamily building on Haven Avenue (arranged by Isaac Filler). *** GCP Capital Group arranged over $39M in financing: $27M for 11 multifamily buildings totaling 547 apartments and 47k SF of commercial space in the Bronx, Brooklyn, and Manhattan (arranged by Paul Greenbaum); $5.3M for a portfolio of four apartment buildings totaling 25 apartments and one store in Brooklyn (arranged by Matthew Albano); $4.2M for two walk-up apartment buildings totaling 46 apartments and 4,200 SF of commercial space in Manhattan (arranged by Adam Brostovski); and $1.7M for a 20-unit, four-story apartment building on Sanford Avenue, Flushing (arranged by George Spanos). *** Eastern Union Commercial’s Abraham Bergman arranged $34M in refinancing for a four-building, 580-bed skilled nursing portfolio in NY and NJ. The loan, which was provided by M&T Bank, was financed at 5.03% fixed for five years. Three of the buildings are operational while one is under construction and is expected to be completed by the end of 2012. *** Soundview Real Estate Partners provided $20M in funding to complete the renovation of the JFK Airport Hotel into the 356-room Hilton New York JFK Airport Hotel. Upgrades included a redone lobby area, a dining option called Restaurant 144, an indoor heated pool, and new fitness center. *** | ||
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| Washington Trust provided a $10.4M commercial mortgage to MCR Development for the financing of the 128-room SpringHill Suites by Marriott at 2 Sawgrass Dr, Brookhaven, Long Island.CONSTRUCTION & DEVELOPMENT SL Green, Pace University, and AECOM’s Tishman Construction Corp topped out on the new 24-story Pace University dorm at 180 Broadway. The tower, which will open in 2013, will house 600 students, and the three lower levels are available for retail leasing. *** | ||
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| The NYC Economic Development Corp and Staten Island borough prez James Molinaro selected Guido Passarelli & Sons to develop a 10-acre site in Charleston, Staten Island with 130k SF of village-style retail. The developer will purchase the site for $7.1M and invest $25M to construct the project, and the proceeds of the sale will be used to jumpstart the development plan of approximately 58 acres of vacant, City-owned land known as the Charleston Municipal Site. What’s planned: the 22-acre Fairview Park, a new branch of the New York Public Library, senior housing, a public school, additional retail, and improvements to Englewood Avenue. Construction is expected to begin in 2014.BUSINESS MNS launched an investment sales and capital advisory division, which will be under the direction of MNS president David Behin. The division will focus on development consulting, funding, marketing, and sales of real estate opportunities throughout Brooklyn, Manhattan, and Queens. EXECUTIVE MOVES Michael Berne and Richard Donohue joined Lee & Associates NYC to spearhead the firm’s seniors housing and healthcare division. Michael was previously with JLL, where he founded and oversaw the national seniors housing group with Richard. He also held positions with the NYS AG’s office and the NYS Medicaid Fraud Unit. Richard also serves as consultant to the NYC Health and Hospitals Corp. Michael is a Dartmouth and Columbia Law School grad, while Richard is a CCNY grad. |
Jamestown Properties purchased the 241k SF 325 Hudson St from Young Woo & Associates and Bristol Group for $110M. CBRE’s Darcy Stacom and Bill Shanahan repped the sellers.