THE DEAL SHEET
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| SALES Rosewood Realty Group’s Aaron Jungreis brokered the sale of a 48-unit, six-story elevator apartment building at 2505 Bedford Ave, Flatbush for $5.2M. *** A private investor purchased a 20-unit apartment building at 2475 Hughes Ave, Bronx for $1.5M. Marcus & Millichap’s Marco Lala,Jack Lala, and David Raciti brokered the deal. LEASES Cullen and Dykman signed an extension and expansion agreement that will keep the law firm at 44 Wall St for 10 more years, taking a total of 28k SF. Cushman & Wakefield’s Edward Weiss, Josh Kuriloff, Frank Cento, and Edward Donnery repped the tenant, while Keith Lipstein, Jay Kreisberg, and Christina Dermond repped owner ABS Partners Real Estate in-house. *** | ||
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| Lankler Siffert & Wohl renewed its 23k SF lease and took another 5,100 SF at 500 Fifth Ave. Newmark Grubb Knight Frank’s Billy Cohen and Ryan Kass repped the tenant, while Cushman & Wakefield’s Harry Blair and Sean Kearns repped owner 500 Fifth Ave Inc.***The Family Center signed a 11k SF lease at 1295 Fulton St, Brooklyn. Cushman & Wakefield’s Carri Lyon repped the tenant, while CPEX’s Timothy King, David Muessel, and Nicholas Hector repped owner Ash Unlimited. *** Light Ming Trading inked a 8,000 SF lease at 503 Johnson Ave, Bushwick. Kalmon Dolgin Affiliates repped the tenant, while KDA’s Linda Wong repped owner AR Loft. *** Cohen Partners signed a 10-year, 3,800 SF lease at 104 W 40th St. Newmark Grubb Knight Frank’s Robin Fisher and Taylor Scheinman repped the tenant, while CBRE’s Mike Movshovich,Neil King, and Paul Amrich repped owner Savanna. *** Midtown Cardiovascular inked a 3,500 SF lease at 450-460 Park Ave South. Savitt Partners’ Elliot Zelinger repped the tenant, while The Moinian Group’s Jovani Rampersad repped owner 460 Park Avenue South Associates. *** Liz Russell Organics, an Aveda Lifestyle Salon, leased 3,400 SF at 113 E 60th St. Massey Knakal Retail Leasing Services’ Jill Lovatt repped the landlord. *** | ||
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| 7-Eleven is opening a 2,300 SF store at 1235 Second Ave. RKF’s Ariel Schuster repped the tenant, while Winick Realty Group’s Darrell Rubens and Annie Shinn repped owner Madison Capital.***Allen Edmonds inked a 2,000 SF retail deal at 69 Main St, Westport, Conn. DiMucci Partners’ Frank DiMucci repped the tenant; the landlord is Malkin Properties. FINANCING GCP Capital Group arranged: $46M for seven apartment buildings totaling 359 residential units and 27k SF of commercial space throughout upper Broadway (arranged by Adam Brostovski);$8.8M for two adjacent seven-story walk-up apartment buildings totaling 56 units on East 85th Street (arranged by Matthew Classi);$4M for a 59-unit, six-story elevator apartment building on Seaman Avenue (arranged by Paul Greenbaum); and $4M for a 27-unit, seven-story elevator apartment building on East 82nd Street(arranged by David Sessa). *** Meridian Capital Group arranged: $14.3M for a seven-building multifamily portfolio in the Bronx (arranged by Michael Kesselman);$9M for a 100k SF office building on Fulton Street (arranged by Dovid Ostrov); $3.3M for a 55-unit, 11-story co-op building on Park Avenue (arranged by Steve Geller and Nicoletta Pagnotta); and $3.1M on two multifamily buildings totaling 55 units on Isham Street and Seaman Avenue (arranged by Kesselman). *** Hudson Realty Capital funded a $5.3M first mortgage loan secured by a 14k SF mixed-use building with 15 residential units and two commercial units near the intersection of Kenmare Street and Bowery. BUSINESS Reznick Group and J.H. Cohn announced plans to merge and become the 11th-largest accounting, tax, and consulting firm in the US. The merger is anticipated to take effect in September. *** | ||
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| Gleeds CEO Richard Steer, Atlanta's Chris Soffe, and New York's Paul Reimer announced the London firm's arrival in NY with a rooftop party at the James Hotel. The firm is working with SOM for CornellNYC Tech on Roosevelt Island; as program manager for JetBlue's billion-dollar JFK redevelopment; and consultant to projects for Columbia University, The Durst Org, The New School, and Prospect Park Alliance.EXECUTIVE MOVES Joe Harkins rejoined Cushman & Wakefield as executive director in the Midtown office. He was previously with Grubb & Ellis, The Staubach Co, and Tishman Real Estate Services, and was with C&W for 15 years prior. He’s a Boston College grad and completed the real estate diploma program at NYU. *** Goodwin Procter promoted Michelle Duerr-Condia to chief administrative officer. She’s been with the firm since ’07 as director of firm real estate and administrative services. *** Stalco Construction promoted Scott Pavick to chief estimator. He’s been with the firm since ’02 and is responsible for developing cost estimates and budgets, while heading Stalco’s pre-engineered design/build division. He’s held positions with School Construction Consultants, JMB Architecture, and Bohler Engineering and is an NYIT grad. |
