THE DEAL SHEET
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| SALES Rosewood Realty Group brokered three deals: Black Spruce Partner III’s purchase of the 28-unit 203 W 144th St from Standard 144 Venture for $3.7M (broker: Aaron Jungreis); 599 West 188th St Inc’s purchase of the 33k SF 2420-2422 Prospect Ave, the Bronx from 2420 Prospect Ave Corp for $3.6M (seller rep: Ryan Perkoski; buyer rep: David Scheer); and a local private investor’s purchase of the 10-unit, four-story walk-up apartment building at 116 E 117th St from 117 Alexandria Property for $1.4M (seller rep: Michael Kerwin; buyer rep: Samuel Kooris). *** 854 West 180 LP purchased a 48-unit, six-story elevator apartment building at 854 W 180th St, Washington Heights from Cabrini Management Associates for $7.7M. Cignature Realty’s Lazer Sternhell and Peter Vanderpool brokered the deal. *** Ariel Property Advisors’ Shimon Shkury, Victor Sozio, and Michael Tortorici brokered the sale of six buildings in Upper Manhattan: a four-story parking garage at 316-320 W 118th St, Morningside Heights for $4.5M; and an assemblage of vacant lots at 1840, 1846, and 1854-1856 Park Ave, as well as 61 E 126th St, for $1.4M. *** The Municipal Hospital Employees Union purchased a 7,800 SF office condo at 70 W 36th St for $4.1M. JTK Cohen and Co’s Jonathan Cohen repped the buyer, while Time Equities’ Brandon Medeiros repped the seller. *** GreenBush Realty purchased the 4,100 SF, three-story 626 Manhattan Ave, Greenpoint for $3.4M. Eastern Consolidated’s Deborah Gutoff, Gabriel Saffioti, and Paul Nigido repped the seller, 626 Manhattan Ave Corp, and procured the buyer. *** Mondial Automotive purchased the 4,000 SF neighborhood building with eight units of retail and office at 54-30 48th St, Maspeth from Casino Concrete for $1.9M in an 1031 transaction. Right Time Realty’s Joe Ibrahim brokered the deal. | ||
| LEASES Hatch Mott MacDonald signed an 81k SF HQ office lease at MetroTop Plaza I and II in Iselin, NJ’s MetroPark. Studley’s Jim Schroeder and David Zimmel Associates repped the tenant, while Cushman & Wakefield’s Paul Giannone, Kevin Carton, and Eric Sobel repped owner Atlantic Realty & Development Corp. *** Rothschild North America signed a 70k SF renewal at 1251 Avenue of the Americas. The landlord is Mitsui Fudosan America. *** NAI Friedland’s retail division brokered four deals: Fiesta Adult Day Care’s 11k SF lease at 50 Belmont Ave, Brooklyn (broker: Rick Stassa; landlord: M&M Realty Corp); Dormitory Authority’s 7,100 SF lease at 2511 Westchester Ave, the Bronx (landlord: Abeken Apartments); Rent-A-Center’s 3,000 SF lease at 1405 Fifth Ave(brokers: Steve Lorenzo and John Rivera; landlord: Yuco Management); and Menchies Frozen Yogurt’s 1,400 SF lease at 3555 Johnson Ave, the Bronx (brokers: Robin Herko and David Scotto; landlord: Friedland Properties). *** NAI Friedland’s industrial division brokered three deals: Rugoua Trading Corp’s 13k SF lease at 524 South Columbus Ave, Mount Vernon (broker: Ross Schneiderman; landlord: Sandford Columbus Associates); and Franchise Contractor’s 2,900 SF lease and Ronjon Luxury Wheels’ 2,100 SF lease at 145 Saw Mill River Rd, Yonkers (broker: Steve Kornspun; landlord: Lubin Flowers). *** 5 Hanover Square saw two deals: Jones Jones’ expansion to 9,200 SF for an extended 10-year term (broker: Todd Korren for Savanna, in-house); and National Association of Pediatric Nurse Practitioners’ 11-year, 5,100 SF lease (tenant reps: CBRE’s Richard Levine and Zachary Price; landlord reps: Cushman & Wakefield’s Frank Cento, Jonathan Fein, and Carlos Suarez). *** Frank Hirth signed a 10-year, 14k SF lease at Wall Street Plaza (88 Pine St). The Kaufman Org’s Michael Kaufman repped the tenant, while Cushman & Wakefield’s Frank Cento repped owner Orient Overseas Associates. *** Legal Solutions Group signed a 3,700 SF extension and expansion at 80 Broad St. Landlord Savanna was repped in-house by Todd Korren. Additionally, Insight Out of Chaos inked an 11-year, 3,200 SF lease at the building. Jay G. Smith Commercial Real Estate’s Steve Hafif and David Scher repped the tenant, while Newmark Grubb Knight Frank’s Hal Stein, Adam Leshowitz, and Todd Stracci repped Savanna. *** Summit Security inked a 10-year, 5,300 SF lease at 16 W 36th St. Newmark Grubb Knight Frank’s Eric Cagner repped the tenant, while Winoker Realty’s Elliot Klein and Howard Epstein repped the owner. Howard also brokered Copen United’s two-year, 2,000 SF renewal at 37 W 39th St. *** Kaltex North America is expanding by 6,000 SF to 42k SF in the Empire State Building. Studley’s Michael Goldman, Chip Conklin, and Dan Posey repped the tenant, while Newmark Grubb Knight Frank’s Billy Cohen, Ryan Kass, and Shanae Ursini repped owner W&H Properties. *** Winn Residential signed a 4,000 SF lease at 26 Bruckner Blvd, the Bronx. NAI Friedland’s Steve Kaufman repped both the tenant and landlord 26 Bruckner LLC. *** Game Table inked a 3,300 SF lease at Quality Plaza Shopping Center (954 S Broadway) in Hicksville, Long Island. Southgate Realty Corp repped the tenant, while Sabre Real Estate Group’s Amanda Gordon repped owner Quality Plaza Realty. *** BRAC USA signed a six-year, 3,200 SF lease at 110 William St. Newmark Grubb Knight Frank’s Billy Cohen and Jonathan Travis repped the tenant, while Jonathan Dean repped owner Swig Equities in-house. *** NYCRS’s James Famularo and Ravi Idnani brokered three deals:Ivivva Athletica’s lease at 215 W 83rd St; RedStream Technology’s seven-year, 1,300 SF lease at 65 Fort Washington(landlord: Stellar Management); and IBid Prep’s seven-year, 1,500 SF lease at 2328 Broadway. *** Verizon Wireless renewed its 2,600 SF lease for another five years at 100 Wall St. Cushman & Wakefield’s Robert Gibson repped the tenant, while Todd Korren repped owner Savanna in-house. *** Sakhi for South Asian Women signed a 10-year, 2,600 SF lease at 50 Broad St. Adams & Co’s Jeff Buslik and Brett Harvey repped the tenant, while Cushman & Wakefield’s James Searl repped owner Fifty Broad Street Inc. *** Anthony’s Coal Fired Pizza signed a 2,500 SF lease at the Green Cove Shopping Center (90 Northern Blvd) in Greenvale, Long Island. Sabre Real Estate Group’s Jayson Siano repped the tenant; the landlord is Kabro Associates. *** Second Time Around signed a 2,000 SF lease at 238 W 72nd St, the chain’s seventh NYC location. Handler Real Estate Org’s Scott Galin and Darell Handler repped the tenant, while Harris Philip repped owner Alexander Hidalgo Real Estate in-house. *** Computer Solutions International signed a 2,000 SF lease at 60 Madison Ave. Synergy Realty’s Jake Cunningham repped the tenant, while Jovani Rampersad repped owner The Moinian Group in-house. *** Moe’s Sneaker Spot signed a 10-year, 1,800 SF lease at Atlas Park in Glendale, Queens. Right Time Realty’s Joe Ibrahim repped the tenant, while Nina Maurello repped owner Macerich in-house. *** Birch Coffee signed a 1,200 SF lease in the Archstone apartment building on Columbus Avenue between 96th and 97th streets. Thor High Street Advisors’ Kyle Allen brokered the deal. *** Pinkberry signed a 1,000 SF lease at 55 Washington St, DUMBO with Two Trees Management Co. | ||
| FINANCING Meridian Capital Group arranged over $24M in financing, including:$7M for a 46-unit, seven-story multifamily building on Bayard Street(arranged by Scott Assouline); $6.5M for a 28-unit, six-story multifamily building on West 50th Street (arranged by Charles Grussgott); $4M for an 83-unit, six-story multifamily building on Riverdale Avenue, Yonkers (arranged by Cary Pollack); and $3.5M for a 48-unit, six-story multifamily building on 84th Street, Brooklyn(arranged by Avi Weinstock and Josh Rhine). *** GCP Capital Group arranged over $14M in financing, including:$3.6M for a 65-unit, six-story apartment building with 1,200 SF of commercial space on West 238th Street, the Bronx and $3.2M for a 21-unit, six-story apartment building with 3,500 SF of commercial space on Essex Street (both arranged by Paul Greenbaum); $3M for two four-story apartment buildings totaling 15 units on East 35th Street (arranged by Matthew Classi); and $2.9M for a 45-unit, six-story apartment building with three retail units on Grand Avenue, the Bronx (arranged by Adam Brostovski). | ||
| CONSTRUCTION & DEVELOPMENT | ||
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| Mayor Bloomberg joined local community members, Whole Foods executives, and members of The World-Wide Group for a bread-breaking ceremony at the opening of the new Whole Foods Market on 57th Street. The market is part of the World-Wide Group’s larger redevelopment of the 57th Street block.BUSINESS Clayton, Dubilier & Rice announced a definitive agreement to acquire David’s Bridal for $1B. The retailer operates in over 300 US and five Canadian stores. *** Acadia Realty Trust closed on the Acadia Strategic Opportunity Fund IV, with total capital commitments of $541M and buying power of $1.5B. Fund IV will target both single property and portfolio transactions in high-barrier-to-entry markets. *** Shaun Henderson, formerly of Benenson Capital Partners, launched Henderson Capital Advisors, providing investors with consulting and advisory services to help conceive and execute asset enhancement programs for office, retail, industrial, and multifamily. |
HFF’s Cary Abod, Whit Wilcox, Mike Tepedino, and Tom Didio arranged the $200M refinancing of the 1.1M SF, Class-A Newport Tower in Jersey City on behalf of MEPT Newport Tower, a subsidiary of Multi-Employer Property Trust and advised by Bentall Kennedy. The seven-year, 3.5% fixed-rate loan was secured through Prudential Mortgage Capital Co.