THE DEAL SHEET
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| SALES Besen & Associates brokered four sales: a four-story mixed-use building at 1444 Third Ave and a separate two-story building sold as a development side with 26k buildable SF at 176-178 E 82nd St for $7.5M (seller reps: Assaf Tayar and Orly Hazan; buyer rep: Iris Rossano); a 60-unit, six-story elevator apartment building at 2288 Mott Ave, Far Rockaway for $5.9M (seller rep: Lev Mavashev; buyer rep: Ben Weiss); a 21-unit, five-story walkup apartment building at 2486 Morris Ave, the Bronx for $1.7M (broker: Amit Doshi); and a two-story mixed-use building with five apartments and five stores at 1884-1894 Grand Ave, Baldwin, Long Island for $1.4M(seller rep: Mavashev; buyer rep: Alex Frants).*** Raphael Properties purchased the 62-unit, six-story walkup apartment building at 3472 Knox Pl, the Bronx, from 3472 Knox Place Owner LLC for $5.7M. Rosewood Realty Group’s Aaron Jungreis repped the seller, while Rosewood’s Samuel Kooris repped the buyer. *** | ||
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| A real estate development group purchased a 100-foot-wide lot with approximately 40k buildable SF at 2620 Frederick Douglass Blvd, Central Harlem from a non-profit org for $3M. Ariel Property Advisors’ Victor Sozio, Michael Tortorici, and Jesse Deutch brokered the deal. | ||
| LEASES KMM Telecommunications inked a long-term, 196k SF warehouse sublease at 21 Constitution Ave, Piscataway, NJ. The tenant was repped in-house by John Campanelli, while JLL’s Frank Truesdell,Joel Lubin, and Brian Cass repped sublandlord Verizon New Jersey. In another industrial lease, The Hartz Mountain Corp signed a 25k SF industrial lease to relocate its R&D facilities from Bloomfield, NJ to 640 Gotham Pkwy, Carlstadt, NJ. JLL’s Tom Reilly, David Knee, and Blake Chroman repped the tenant, while JLL’s Rob Kossar and Chris Hile repped owner Prologis.*** Hub International signed a long-term , 21k SF lease at Summit Corporate Center (180 River Rd) in Summit, NJ. Newmark Grubb Knight Frank’s Henry Kobrin and Frank Recine repped the tenant, while CBRE repped owner The Silverman Group. *** Deal$ signed an 11k SF lease at 301 W 145th St, at the base of The Langston Condominium. Ripco’s Miles Mahoney repped the tenant, while Winick Realty Group’s Tatiana Jung and Richard Smith repped owner Langston Retail. *** Benartex inked a seven-year, 8,200 SF lease at 132 W 36th St. Kenneth Zund Realty Associates’ Jeff Zund repped the tenant, while The Kaufman Org’s Steven Kaufman and Barbara Raskob repped the owner. *** Murphy Burnham & Buttrick inked a 10-year, 6,800 SF renewal at 48 W 37th St. Adams & Co repped both the tenant and landlord Forty Eight Thirty Seven Associates. *** The Contemporary Fashion Center (231 W 39th St) saw four leases: Made 2 Fade Technology’s three-year, 1,800 SF lease (tenant rep: Capstone Realty Advisors); Olga Fontanillas’ three-year, 1,600 SF lease; The Dolan Group’s three-year, 1,400 SF lease; and Cyn & Luca’s three-year, 1,200 SF lease. Adams & Co’s James Buslik and Jeff Buslik repped all tenants (except Made 2 Fade) and owner 231/249 West 39 Street Associates. *** Net-lease real estate brokerage Stan Johnson Co is expanding from 600 SF to 4,600 SF at 180 Madison Ave in order to accommodate 17 brokers and support staff. Currently, the firm has six brokers and plans to hire more in the coming months. *** Adams & Co’s David Levy brokered: W Design Studio’s 1,100 SF lease at 110 W 40th St (with Adams’ Brett Maslin; landlord: One Ten West Fortieth Associates); and The Adoni Group’s five-year, 2,200 SF lease and Every Toe Covered/RWS Legwear Group’s five-year, 1,400 SF lease (tenant rep: Stacey-Robins Realty Corp) at 10 W 33rd St (landlord: Ten West Thirty Third Associates). *** Terrior Wine Bar opened in 2,200 SF at 284 Fifth Ave, Park Slope. ABS Partners Real Estate’s Mark Tergesen repped the tenant. *** Kava Cafe signed a long-term, 1,400 SF lease at MiMa, the 63-story, mixed-use glass tower on West 42nd Street. The landlord is Related Companies. | ||
| FINANCING Allianz Real Estate of America provided $96M in financing for two Greenwich, Conn. multifamily communities: $55M for the 266-unit Greenwich Place at 311 Putnam Green and $41M for the 130-unit Greenwich Oaks at 219 Weaver St. HFF’s Jon Mikula and Jim Cadranell arranged the two fixed-rate loans on behalf of borrower LCOR. *** Meridian Capital Group arranged: $14.6M for two multifamily buildings totaling 236 units on Yellowstone Boulevard and Grenfell Street in Forest Hills and Kew Gardens (arranged by Carol Shelby and Dani Sabesan); $12M for two mixed-use buildings totaling 35 units and 10k SF of commercial space on First Avenue (arranged by Issac Filler); $7.4M for an 82-unit, six-story multifamily building on Hawthorne Street, Brooklyn (arranged by Avi Weinstock); and $4.2M for a 59-unit, six-story multifamily building on Ocean Parkway, Brooklyn (arranged by Jacob Schmuckler). *** GCP Capital Group arranged: $10M for a 107-unit, seven-story elevator apartment building with 8,800 SF of commercial space on Broadway (arranged by Adam Brostovski); $8.3M for a package of four properties totaling 56 apartments and 5,100 SF of commercial space throughout Manhattan (arranged by Matthew Classi); $8M for an 81-unit, six-story elevator apartment building in Astoria (arranged by Brostovski); and $6.7M for a 92-unit, six-story elevator apartment building with 6,100 SF of commercial space on Virginia Avenue, the Bronx (arranged by Paul Greenbaum). CONSTRUCTION & DEVELOPMENT | ||
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| NYU-Poly | ||
| The Brooklyn Tech Triangle Coalition—led by Downtown Brooklyn Partnership, the DUMBO Improvement District, and the Brooklyn Navy Yard Development Corp (pictured above are their respective heads Tucker Reed, Tom Montvel-Cohen, and Andrew Kimball)—designated a design team led by WXY Architecture + Urban Design to create an area-wide master plan. Among its duties are recommending transportation and infrastructure improvements and real estate and policy strategies. The core team include HR&A Advisors, Sam Schwartz Engineering, and Control Group. Hear more whenTucker, Andrew, and DUMBO BID’s Alexandria Sica speak at Bisnow’s Future of Brooklyn event Nov. 30. (Sign up here!)BUSINESS Winick Realty Group launched a new office in Cranford, NJ, which will focus on the NJ retail market and will be led by SVPs Daniel Spector and Tyler Bennett. |
EBI, a subsidiary of medical device and implant manufacturer Biomet Spine & Bone Healing Technologies, inked a 102k SF HQ lease—including a 28k SF expansion—at 399 Jefferson Rd, Parsippany, bringing the 180k SF building to full occupancy. Owner Prism Capital Partners is fitting out the existing space and building to meet the tenant’s requirements, including R&D labs, offices, medical conference rooms, breakout areas, and a lunch area. Biomet will relocate in phases from its current location in Parsippany, which it recently sold. Cushman & Wakefield’s Andrew Schiffer and Robert Rudin repped the tenant.