The Deal Sheet
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Sales Transactions Massey Knakal sold two buildings: a one-story retail building at 178-182 7th St. in Garden City, Long Island, for $1.5M cash, $190k above the asking price, in a 1031 exchange (broker: Nalini Chugh); and a 4.3k-SF mixed-use building at 2941 Fulton St. in East New York, Brooklyn, for $225k cash (broker: Ed Gevinski). Lease Transactions NYC Office Suites signed an 11-year, 75k-SF sublease with Harper Collins at 1350 Avenue of the Americas. Jones Lang LaSalle’s Scott Panzer and Sean Black represented the subtenant, while Grubb & Ellis’ Joseph Harkins represented the sublessor. The landlord is SL Green. *** Waterfront Media inked a nine-year, 38k-SF lease for its new HQ at 345 Hudson St., relocating from Brooklyn. The first four years will be a sublease from CT Corporation, a subsidiary of Wolters Kluwer. The remainder will be a direct lease from owner Trinity Real Estate. Cushman & Wakefield’s Mitti Liebersohn and Scott Silverstein represented the tenant; FirstService Williams’ Mark Friedman represented the sublessor; and Jason Pizer and Tom Lynch represented the owner in-house. *** The US Department of Agriculture leased the entire 18.5k-SF seventh floor of Queens Tower at 88-11 165th St. in Jamaica, Queens. Stanley Markowitz negotiated the 10-year lease in-house on behalf of owner Muss Development. *** Genzyme expanded it HQ space by 14k SF at 521-33 W. 57th St., bringing its total footprint in the building to 112k SF. The transaction is co-terminus with the 10-year, 98k-SF renewal the tenant signed in July. Studley’s David Dusek, Peter Capuciati, and Alex Blue represented the tenant. *** Creative Realities subleased the entire 8.5k-SF 14th floor at 1140 Broadway from Perkins Eastman Architects for a five-year term.Newmark Knight Frank represented the subtenant, while FirstService Williams’ Ted Rotante, Michael Joseph, and Michael Leary represented the sublessor. *** Ed Schlossberg d/b/a ESI Design inked a five-year, 3.8k-SF deal at 9-11 E. 19th St. FirstService Williams’ Ted Rotante represented the tenant, while Rice & Associates’ Doug Rice represented owner M&M Real Estate. *** My Suit signed a retail lease for 3k SF at 360 Madison Ave. for its third Tri-State area store. Winick Realty’s Young Byunn represented the tenant, which is also looking for locations in the Wall Street and Columbus Circle areas. *** Kirshenbaum, Urban & Tan renewed its 2k-SF lease at Ten Bank Street in White Plains through ’15. The tenant represented itself, while Jeffrey Newman and Kathleen Caracappa represented owner Malkin Properties internally. *** Auffrance inked a retail lease at 237 E. 58th St., next to Duxiana and Urban Archaeology. The Lansco Corp. represented the tenant, while Prudential Douglas Elliman’s Faith Hope Consolo and Joseph Aquino represented owner Marolda Properties. Financing The Community Preservation Corp. announced a new public/private partnership to provide $1B in construction and mortgage loans to multifamily housing owners for energy-efficient upgrades and property retrofits. The program includes Freddie Mac, City and State public employee pension funds, several private financial institutions with Deutsche Bank acting as agent bank, State and City government agencies, and utility companies. The State of New York Mortgage Agency is providing critical mortgage insurance for the pension funds, and the New York City Department of Housing Preservation and Development will also be supporting the initiative through its Participation Loan Program.
John Kaye joined Cushman & Wakefield’s Edison, NJ, office as a director, focusing primarily on the Central NJ market and new broker training. His clients include Eastman Kodak, Motorola, and Merrill Lynch. He was previously a senior associatie at CB Richard Elli and is a graduate of the University of West Virginia. *** Kenneth Walsh Jr. returned to Adams & Co. as assistant director of operations. He began his career at the firm, and was most recently property manager for Vornado, overseeing 20 Broad St., 40 Fulton St., and 1740 Broadway. He is a graduate of St. Michael’s College. *** Timothy Oberweger joined Fidelity National Title as counsel and account representative in its Garden City, Long Island office. He was previously with First American Title, and holds degrees from Macalester College and Brooklyn Law. *** Stribling & Associates promoted company controller Lisa Crane Wacks to direct all accounting activities, succeeding Robert Blau, who is retiring. She has been with the firm for three years, and has more than 15 years of professional accounting experience. She holds degrees from the University of Florida and Florida International. |
