THE DEAL SHEET
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| SALES Grouper purchased the 55k SF, six-story elevator multifamily building at 30-60 29th St, Astoria from a fund for $16M. Rosewood Realty’s Aaron Jungreis brokered the deal. *** Eastern Consolidated’s Adelaide Polsinelli brokered the sale of a pair of contiguous five-story walk-up apartment buildings—totaling 36 apartments and four ground-floor retail stores—at 521-523 E 12th St sold for $10.9M. *** An investor purchased a CVS retail store at 55 Cold Spring Rd, Syosset, Long Island from King Kullen Grocery Co for $9M NNN. Newmark Grubb Knight Frank’s Kenneth Zakin and Randall Liberman repped the seller, while NGKF’s Scott Berfas, Daniel Oliver, and Jordan Oliver, along with King Kullen’s James Johnston, repped the seller. *** A national multifamily investor purchased the pre-war, 21-unit apartment building at 6 W 107th St for $8.8M. Berko & Associates’Joe Berko repped the buyer, while Ariel Property Advisors’ Shimon Shkury, Michael Tortorici, and Victor Sozio repped seller Stonehenge Partners. | ||
| LEASES 90 Broad Street saw over 36k SF of deals, including: Linium’s five-year, 5,000 SF lease (tenant rep: JRT Realty Group’s Kate Pezzolla);Fogel Neale Partners’ three-year, 4,900 SF lease (tenant reps: Newmark Grubb Knight Frank’s Travis Wilson and Robert Satler);Engle Martin & Associates’ five-year, 4,800 SF lease (tenant rep: Colliers International’s Seth Hecht); and RealMatch’s five-year, 4,800 SF lease (tenant rep: Lee & Associates’ Ken Salzman). JLL’s John Ryan III, Edward DiTolla, and Scott Cahaly repped owner 90 Broad Street Owner LLC in all deals. *** | ||
| Sam Ash Music Stores is relocating and consolidating its Manhattan flagship store to 30k SF at 333 W 34th St for 15 years. Newmark Grubb Knight Frank Retail’s Jeffrey Roseman and Gregg Gropper, along with SL Green’s David Kaufman and David Amsterdam, repped owner SL Green in-house.***Carr Workplaces is opening a second business center for executive suits and flexible workspace in 27k SF at 745 Fifth Ave. *** Perkins Coie expended by 24k SF at 30 Rockefeller Plaza, taking an additional floor. *** Financo tripled the size of its HQ, taking 22k SF in a relo to 600 Madison Ave. *** C+T International signed a long-term, 19k SF lease at 52-35 74th St, Elmhurst. Kalmon Dolgin Affiliates’ Linda Wong repped the tenant, while KDA’s Vincent Lopez and Jacques Wadler repped the owner. *** Winoker’s Elliot Klein brokered four deals on behalf of landlords:Millenx Accessories’ five-year, 6,400 SF renewal at 29 W 30th St;Herbert Kunstadt Associates’ five-year, 2,500 SF renewal at 383 Fifth Ave; Di Seta Corp’s four-year, 1,800 SF lease at 16 W 36th St(along with colleague Howard Epstein); and Harold Matson Co’s three-year, 1,400 SF renewal at 276 Fifth Ave. *** Peter B. Cannell & Co inked a 10-year, 8,800 SF deal at 545 Madison Ave. Cushman & Wakefield’s Don Preate and Jon Mayeske repped the tenant, while CBRE’s Gregg Rothkin, Paul Milunec, Keith Cody, Robert Kluge, and Bob Flippin repped owner LCOR. The building is now 88% leased. *** 463 Seventh Ave saw over 7,700 SF in deals, including: Max Matson’s 2,100 SF renewal; Trimfit’s 1,600 SF lease; Rose and Olive’s 1,500 SF lease (tenant rep: Adams & Co’s Brett Maslin); and Supreme Trading’s 1,300 SF lease (tenant rep: Maslin). Adams & Co’s David Levy repped owner The Arsenal Co in each deal. | ||
| FINANCING Meridian Capital Group arranged over $77M, including: $41.2M for two multifamily buildings totaling 640 units on 41st Avenue, Flushing(arranged by Carol Shelby and Dani Sabesan); $8.6M for a 43k SF retail building on Fulton Street, Brooklyn (arranged by Rael Gervis); $7.7M on a 27k SF office building on Broadway (arranged by Michael Kesselman); and $5.3M for three co-op buildings totaling 128 units on Brighton 3rd Street and East 18th Street, Brooklyn(arranged by Morris Diamant). *** GCP Capital Group arranged over $25M, including: $13.6M for two attached six-story apartment buildings, totaling 217 units, on Junius Street, Brooklyn (arranged by Paul Greenbaum); $5.6M for a 74-unit, five-story walk-up apartment building with 4,600 SF of commercial space on the Grand Concourse, Bronx (arranged by Adam Brostovski); $2.7M for an eight-unit, five-story walk-up apartment building with 1,100 SF of commercial space on East 6th Street (arranged by Stephen Katz); and $2M for an a 11k SF, freestanding retail shopping center in Centereach, Long Island(arranged by Alan Perlmutter and George Spanos). *** Meridian Capital Group’s Aaron Appel and Jonathan Schwartz also arranged $25M in acquisition financing on behalf of Steiner Studios for the previously announced purchase of the Jardin, a Class-A multifamily building at 142 N 6th St, Williamsburg. The 10-year, floating-rate balance sheet loan was swapped to a fixed-rate and closed in 18 days. *** Hidrock Realty secured a $16.1M refi for 35 W 36th St from Assurant, the original lender, at a 3.89% interest rate. The firm acquired the 79k SF, Class-B property in 2007, renovated it, and now it’s 96% leased. *** Beech Street Capital closed $14.2M Fannie Mae DUS loans to refi a four-property multifamily portfolio totaling 226 units in Brooklyn. Meridian Capital Group’s Chaim Tessler originated the transaction. |
