The Deal Sheet
Sales Transactions
Massey Knakal sold five properties:
- a two-story building at 401 95th St. in Bay Ridge, Brooklyn for $3M cash (brokers: Matthew Giordano, Stephen Palmese, and Jonathan Berman);
- a four-story multifamily property at 3821 18th Ave. in Ditmas Park, Brooklyn for $2.8M cash (broker: Eric Greenfield);
- a three-story retail property at 260 Washington St. in Newark for $980k (broker: Geoffrey Bailey);
- a 13.5k-SF development site at 452 North Ave. in New Rochelle for $470k (broker: John Barrett);
- a commercial condo at 9729 4th Ave. in Bay Ridge for $284k(broker: Palmese).
***
Marcus & Millichap sold two Brooklyn properties: a 15.1k-SF medical office at 794 Union St. for $4M (broker: Naomi Shu); and a 5.4k-SF mixed-use property near 7th Avenue in Park Slope for $1.5M (seller’s brokers: John Horowitz and Matthew Fotis; buyer’s broker: Adelaide Polsinelli).
***
A real estate holding company purchased a 2.7k-F office condo at 305 Seventh Ave. for $1.7M. Winoker Realty’s Jonata Dayan and Adam Ben-Dayan represented the buyer, while LPR Realty’s Leith ter Meulen represented the seller, a non-profit.
***
NAI James E. Hanson sold a 3.4k-SF office condo at 58-60 Main St. in Hackensack, NJ for 52% of the original asking price, which was not disclosed. The firm’s Peter Cohen and Susan Trovati represented the seller.
***
Heritage Realty Services entered into a long-term net lease with the right to purchase a two-acre parking lot located at the corner of Steamboat Rd. and Oneida Dr. in Greenwich, Conn., which is owned by Steamboat Road Property.
Lease Transactions
1350 Broadway saw three leases totaling nearly 50k SF: Tarter Krinsky & Drogin’s expansion into 27k SF (tenant brokers: CB Richard Ellis’ Paul Amrich and Fernando Urrutia); Cary Kane’s expansion into 8.9k SF (tenant broker: Grubb & Ellis’ Ira Rovitz); and The Hawthorne Agency’s 12.3k-SF renewal (tenant broker: Jones Lang LaSalle’s Jay Lapham). Newmark Knight Frank’s Jonathan Fanuzzi, Brian Waterman, and Julie Christiano represented owner W&H Properties in each transaction.
***
The Atlantic Philanthropies will relocate its NY office to 1 Hudson Square in a 12-year, 40k-SF lease with The Parish of Trinity Church. Cushman & Wakefield’s Glenn Markman and Don Preate represented the tenant, while Trinity’s Jason Pizer and Cushman & Wakefield’s Andrew Peretz and Robert Constable represented the owner.
***
1180 Avenue of the Americas saw two deals: Distinguished Programs Group’s 15-year, 18.1k-SF lease (tenant brokers: Studley’s Michael Goldman and Dan Posy); and Corporation Service Co.’s 10-year, 15k-SF lease (tenant brokers: Newmark Knight Frank’s Pete Shimkin, Kyle Ciminelli, and David Falk). Murray Hill Properties’ David Greene and Louis Pappas represented owner Murray Hill Properties in-house for both transactions. The asking rents were respectively $60 and $50 PSF.
***
Jericho Atrium at 500 N. Broadway in Jericho, Long Island, saw 32k SF in leasing activity, including: ARS Financial Services’ 5.9k-SF renewal; Diversified Strategies Agency’s 3k-SF renewal; Peter's Way International’s 2.5k-SF lease; and Katz & Bloom’s 2.4k-SF lease. Real Estate Strategies’ Harris Rousso represented the landlord, Metropolitan Realty Associates, in all the deals. The landlord recently moved its own HQ into the building.
***
ECT Capital, a new division of Fortis Bank Nederland, inked a 20.6k-SF lease at 100 Park Ave. Newmark Knight Frank’s John Lizzul represented the tenant, while Cushman & Wakefield’s Paul Glickman, Tara Stacom, Mitti Liebersohn, Jonathan Tootell, and Diana Biasotti, along with SL Green’s Larry Swiger, represented owner SL Green.
***
Advance Telecom Resources signed a two-year, 20.3k-SF renewal at 141 Ethel Rd. West in Piscataway, NJ. Zimmel Associates’ David Zimmel represented both the tenant and owner, Denholtz Associates.
***
Ingram Yuzek Gainen Carroll & Bertolotti signed a 10-year, 20k-SF extension at 250 Park Ave. Byrnam Wood’s Gordon Ogden represented the tenant, while Colliers ABR’s David Hoffman, Robert Billingsley, and Wendy Miller represented the landlord.
***
The Riese Org. signed a lease extension for a 12.5k-SF food court in the Amtrak waiting room at Penn Station. The site, which has been closed for renovations since April, will reopen this week, featuring Tim Hortons, TGI Friday’s, KFC, and Pizza Hut, among others. The firm’s Mark Stempel represented the tenant.
***
Ideal Properties brokered five Brooklyn deals totaling 12.1k-SF, representing both the landlords and tenants:
- Homebody Boutique’s three-year, 450-SF lease at 449 7th Ave. in Park Slope (broker: Jennifer Rhodes);
- Lifeguard Financial’s three-year, 7k-SF lease at 60 12th St. in Gowanus (broker: Karen Christian);
- Power Express Mortgage’s two-year, 2.1k-SF lease at 378 93rd St. in Bay Ridge (broker: Justin Dower);
- Anorco’s one-year, 300-SF lease at 276 Prospect Park West in Windsor Terrace (broker: Brad Einhorn);
- Doctors Management Group’s 2.3k-SF lease at 808 8th Ave. in Park Slope (broker: Einhorn).
***
370 Lexington Ave. saw five new deals and a renewal/expansion, with Sherwood Equities’ Jill Burrowes and Adam Weissleder representing the owner in-house on all deals:
- Wallin Simon & Black’s 2k-SF lease (tenant broker: Newmark Knight Frank’s Arthur Draznin);
- The Phoenix Group Associates’ 2.6k-SF lease (tenant broker: Murray Hill Properties’ Jeff Fernholz);
- Becker CPA’s 2k-SF lease (tenant brokers: Burrowes and Weissleder);
- Park Avenue Mortgage Group’s 1.3k-SF lease (tenant brokers: Burrowes and Weissleder);
- Friends of Bezalel Academy of Arts and Design’s 840-SF lease (tenant broker: CitiHabitats’ Jeff Roth);
- Meridian Fund Services’ renewal and expansion into 4.9k SF (tenant brokers: Burrowes and Weissleder).
***
Leahey & Johnson renewed its 9.5k-SF lease for 10 years at 120 Wall Street. Studley’s Marc Shapses and Jason Schwartzenberg represented the tenant, while Roger Silverstein represented owner Silverstein Properties in-house.
***
The General Contractors Association of New York inked a long-term lease renewal for 9k SF at One Grand Central Place. Studley’s Daniel Horowitz represented the tenant, while Newmark Knight Frank’s William Cohen, Ryan Kass, Jonathan Fanuzzi, and Alison Coffey represented owner W&H Properties.
***
Nabbr signed a two-year, 6.8k-SF sublease at 70 W. 36th St. The Kaufman Org.’s Elliot Warren represented the tenant, while CresaPartners’ Paul Weir represented the sublessor. Although the lease terms were not disclosed, the asking price was $21 PSF.
***
Hard Tail Forever signed a four-year, 5.4k-SF renewal and expansion at 231 W. 39th St. Adams & Co.’s James Buslik and Jeff Buslik represented both parties in the transaction. Although the lease terms were not disclosed, the asking price was $40 PSF.
***
MLBKaye Interntational Realty’s Lewis Kaye brokered three deals:Eisen and Schulman’s seven-year, 3.5k-SF lease at 18 East 48th St.; Portrait Bug’s 10-year, 1.6k-SF lease at 2466 Broadway; and Verizon dealership MLC’s 10-year, 500-SF lease at 2464 Broadway(tenant broker: Peter Levine).
***
Airmont Village Square shopping center at 220 Route 59 in Suffern, NY saw three new long-term deals totaling 5.6k SF: H&R Block’s five-year, 1.3k-SF lease, and Airmont Eats and Airmont Hair’s combined 10-year, 4.3k-SF lease. NAI James E. Hanson’s Ronald Fotiu and Michael Jamgotchian represented the landlord,Troast, in all three transactions.
***
MetroPCS Communications signed a lease for a new store at the Hillview Towers at 345 W. 145th St. in Harlem. Prudential Douglas Elliman’s Faith Hope Consolo, Joseph Aquino, and Arthur Maglio secured the space. This is the second MetroPCS store the team has brought to Harlem, the first was 555 Lenox Ave. earlier this summer.
Financing
CBRE Capital Markets’ Keith Braddish, Jason Gaccione, Rayna Karaivanov, and CBRE Private Client Group’s Bruce Nelson arranged a $7.3M fixed-rate first mortgage to refinance senior debt on Woodbury Shopping Center at 404-422 South Oyster Bay Rd. in Hicksville, Long Island. The non-recourse loan, funded by a regional bank, was structured with a 7-year term on a 30-year amortization schedule at a fixed interest rate of 6.5%
Construction & Development
Sweetwater Construction Corp. is building the new HQ for the NJ Sharing Network, an organ procurement organization. The 47k-SF tenant build-out will include a 7k-SF accredited transplant testing laboratory, reception, waiting areas, interview rooms, and more at 691 Central Ave. in New Providence. The new facility is due to finish in October.
ALSO AROUND NEW YORK . . .
Exec Moves
Adam Rubenstein joined Metropolitan Realty Associates as director of acquisitions. He was formerly a director at Newmark Knight Frank in NYC, and also worked at CIBC World Markets and New York Life Investment Management. He holds degrees from the University of Michigan and NYU.
***
Howard Epstein and Alex Fazio joined Winoker Realty as associate directors. Howard comes from Hercules Realty Group, where he served as director of commercial leases, and worked in the women’s apparel business before entering real estate in ’08. Alex comes from UBS’s financial sponsors group, where he worked with private equity and hedge funds over multiple industry segments.
***
Sandra Kamerman joined Fox Residential Group as a sales associate. She was previously a director of two UES galleries and a private art dealer specializing in contemporary art. She holds degrees from Cardozo Law School and Rutgers.
***
Karla Baig joined Propark America as director of business development and special assignments, responsible for developing new business locations in NY and NJ. She was previously with Standard Parking and also held a position at Tishman Speyer Properties. She holds degrees from the University of Bridgeport and William Paterson University, and has engaged in post-Masters studies at Montclair State.
