The Deal Sheet
| Sales Transactions A private buyer purchased the 251-unit Baldwin Oaks HUD-designated senior retirement rental community at 299 Baldwin Ave. in Parsippany from AIMCO for $19M. Gebroe-Hammer Associates'Joseph Brecher and Stephen Tragash represented both sides of the deal. *** Metropolitan Realty Associates and equity partner Angelo, Gordon & Co. purchased 711 Stewart Ave. in Garden City, Long Island from AVR Realty and Guardian Life Insurance for $15M. CBRE's Richard Karson and Marty Lomazow negotiated the deal. *** A private buyer purchased the 6k-SF 3-5 South 4th Ave. in Mount Vernon from the Family Service Society of Yonkers. NAI Friedland's Robin Herko, Steve Lorenzo, and David Scotto represented both the buyer and seller. Although the deal's terms were undisclosed, the asking price was $1.5M. *** Massey Knakal sold a three-story, mixed-use building at 2902 Fort Hamilton Pkwy. in Windsor Terrace, Brooklyn for $1.2M cash. The firm's Adam Hess was the sole broker. Lease Transactions Team Resources SBWE brokered five NJ transactions: a 29.5k-SF lease at 2 North Corporate Dr. in Riverdale (tenant reps: David Cantor and Eric Lewin); a 22.4k-SF lease at 200 Murray Hill Pkwy.(tenant/landlord reps: Cantor and Greg Sholom); an 8k-SF lease at 105 W. Dewey Ave. in Wharton (tenant reps: Jeff Fulton and Ed Schein); a 8.7k-SF renewal at 135 Grand St. in Carlstadt (tenant brokers: Sholom and Cantor); and a 5.4k-SF lease at 22 Caesar Pl. in Moonachie. (landlord rep: Lissa Roy). *** OfficeLinks signed a 24k-SF lease at 1140 Avenue of the Americas for its fourth serviced-office provider location in Manhattan and the second in Midtown. Cushman & Wakefield's Steve Strati and Phil Amarante represented the tenant. *** CSAV Agency renewed its 24k-SF HQ least at Metro Corporate Campus, 99 Wood Ave. South in Iselin, NJ. Cushman & Wakefield's Bill Brown and Robert Rudin represented the tenant, while C&W's Edward Duenas and Jeremy Neuer represented the owner, a fund managed by Cornerstone Real Estate Advisers. *** Great American Insurance Co. inked two leases, totaling 21k SF, at 65 Broadway. The deals included a renewal for 15.6k SF and a new lease for 5.4k SF. Jones Lang LaSalle's Martin Horner and Joseph Pollaci repped the tenant, while Paul Wasserman and Nat Wasserman repped owner AM Property Holding Corp. in-house. *** 400 and 465 Columbus Ave. in Valhalla saw four deals: MediaMax Network's 7.2k-SF renewal at 400 (tenant rep: Newmark Knight Frank's Hilary Siles and Michael McCall); Sleep Services of America's 5.2k-SF lease at 465; ETI Sales Support's 5.2k-SF lease at 465 (tenant rep: New York Commercial Realty's Michael Rao); and David A. Nigrelli PLLC's 1.3k-SF lease at 465 (tenant broker: McCall). CB Richard Ellis' Kevin McCarthy and William Cuddy Jr. repped owner Abbey Road Advisors in all four deals. *** Creative Research Solutions signed a 16.5k-SF lease at 1015 Hoyt St. in Ridgefield, NJ. Young Star Realty represented the tenant, while The William F. Connors Agency's William Connors Jr. represented the landlord. *** NAI Friedland brokered five deals:
*** Adams & Co. brokered four deals totaling 14k SF: Bloomsburg Carpet Industries' five-year, 5.6k-SF lease at 49 W. 23rd St. (brokers: James Buslik and Alan Bonett); Cullen's seven-year, 4k-SF renewal at 231 W. 39th St. (brokers: James Buslik and Jeffrey Buslik); Hosiery Network's 10-year, 3k-SF renewal at 10 W. 33rd St. (broker: David Levy); and Charmed Accessories' six-year, 1.3k-SF renewal and relocation at 10 W. 33rd (broker: Levy). *** Empire Office inked a 13.4k-SF lease at 105 Madison Ave. Newmark Knight Frank's Paul Davidson represented the tenant, while NKF's Michael Dreizen, Sandramara Dussin, and Andy Udis represented owner A&R Real Estate. *** Nationwide Mutual Insurance Co. renewed its 13.4k-SF lease at Taxter Corporate Park, 565 Taxter Rd. in Elmsford, NY. CB Richard Ellis' Budd Wiesenberg, William Cuddy Jr., Barbara Remington, and Charlene Hoobler represented the tenant, while Ivan Abry represented owner Mack-Cali in-house. *** AMSEC, a wholly owned subsidiary of Northrop Grumman Shipbuilding, leased 8k SF at 112 W. 34th St. CB Richard Ellis'George Relyea represented the tenant, while Cushman & Wakefield's Barry Zeller and Audrey Coe represented owner W&H Properties. *** Global Thematic Partners signed a 5.8k-SF lease at the newly renovated 681 Fifth Ave., the first since ownership acquired the property and finished a complete renovation and infrastructure replacement. CB Richard Ellis' Michael Movshovich represented the tenant, while Cushman & Wakefield's Mitchell Konsker, Matthew Astrachan, Robert Gallucci, and Scott Silverstein represented owner Metropole Realty Advisors. *** Ideal Properties Group brokered four Brooklyn deals totaling 5.2k SF: Seaport Flowers' five-year, 1.7k-SF lease at 309 Henry St. in Brooklyn Heights (broker: Justin Dower); Breuklyn Bier Merchants' five-year, 1.3k-SF lease at 186 Grand St. in Williamsburg (broker:Robert Caccomo); Juice Masters' five-year, 1.2k-SF lease at 77 Fifth Ave. in Park Slope (broker: Erik Serras); and Queen Bear's six-year, 1k-SF lease at 188 Havemeyer St. in Williamsburg (broker: Caccomo). *** TigerRisk Partners signed a 3k-SF relocation lease to 100 First Stamford Place in Stamford, Conn., moving from Shelton. CB Richard Ellis' Barbara Segalini-Stilley represented the tenant, while Jeffrey Newman and Kimberly Zaccagnino represented owner Malkin Properties in-house. *** Dunkin' Donuts and Greenwich Hair Salon signed two 10-year leases totaling 3k SF at The Greenwich Club Residences Building,88 Rector Street. The owner is Thor Equities. *** Topson Downs of California expanded its showroom at 530 Seventh Ave., adding 2.2k SF to its existing 3.4k-SF lease. Savitt Partners' Marc Schoen and Michael Schoen represented the tenant, while Savitt Partners' Bob Savitt acted on behalf of the owner. *** General Chemical Corp. extended it lease at Halsey Corporate Center in Parsippany, NJ. It had previously occupied 80% of the center for more than 25 years, and needed to downsize, creating 1.4k to 33.3k-SF of opportunity in the building. Jones Lang LaSalle's Dennis McConnell and Peter Politi worked on behalf of the landlord. *** Jimmy's Custom Framing Gallery signed a lease for the retail portion of 1035 Third Ave., joining Kusmi Tea, Variazioni, Arche Shoes and Morrell Wine Exchange. Prudential Douglas Elliman's Faith Hope Consolo and Joseph Aquino represented both the tenant and landlord. Financing An innovative program that raises capital for economic development projects in high unemployment areas across the nation has generated $60M in investment at the Brooklyn Navy Yard. The New York City Regional Center is providing the financing through the EB-5 visa program of the U.S. Citizenship and Immigration Services, which will be used to develop new industrial space and upgrade the Yard's infrastructure. Combined with $81M in City-funded infrastructure investment, the three-year project will result in more than 1.2k new jobs at the City-owned industrial park. *** Meridian Capital Group secured $31M to refinance a portfolio of office and retail buildings owned by Pi Capital Partners in Manhattan and Queens. The financing, provided by a local savings bank, has a fixed rate of 6% and a 5-year term that amortizes on a 30-year schedule. *** GCP Capital Group arranged financing for four properties: $20M in mortgage financing for a 260-unit, 55+ senior citizen apartment community in East Farmingdale, Long Island (arranged by Matthew Classi); $4.9M for a six-story, 83-unit elevator apartment building on 161st St. in Jamaica, Queens (arranged by Paul Greenbaum); $2M for a 21-unit rental building in Jersey City (arranged by Greenbaum); and $2M for a 90-unit luxury condominium building in Westbury, Long Island (arranged by Alan Perlmutter). *** Holiday Fenoglio Fowler's NJ office secured a $1.7M refinancing for Windsor Terrace Apartments, a 28-unity multi-housing community at 3 Provost Dr. in New Windsor, NY. The firm's Michael Klein and Thomas Dido worked on behalf of Tower Management Co. to arranged the five-year, fixed-rate loan with Oritani Bank. Business Cushman & Wakefield strategically aligned its Capital Markets Group, creating a NY metropolitan hub headed by vice chairman Andrew Merin. This move adds Manhattan into his team's coverage of the Tri-State region, offering debt and equity finance, investment banking, and investment sales. He and members of the New York Metropolitan Area Capital Markets Group will maintain offices in NY and NJ. *** NAI Global and Chesterfield Faring formed a JV to assist clients in need of financial restructurings. NAI Chesterfield Capital Advisors, which will be based out of NAI's NYC office, will provide advisory services critical to REO and distressed property sales for bank owners, investors, and corporate space users, enhancing the scope of NAI's Special Asset Solutions Group. Lawrence Selevan will lead the group as CEO. *** Natasha Attal launched Composure Marketing, a new age marketing agency that focuses on helping companies expand their presence through social media marketing and content creation. She was previously a marketing consultant for CPEX Real Estate and started her career in real estate marketing at Massey Knakal. *** Edward Reilly established Intelligent Building Solutions, a Totowa, NJ-based firm that will assist commercial real estate, financing, banking, telecommunications, media, and manufacturing clients with mission critical facility development and construction services. Previously, he was VP of Concept Technologies and Concept Construction Services, and also worked for Tishman Realty & Construction. *** Architect Susan Doban renamed her firm to Doban Architecture, and launched a multidisciplinary design studio, Think Fabricate, along with design director Jason Gorsline. The firm and studio will focus on residential, educational, and economic development projects. Executive Moves Grubb & Ellis announced that Richard Pehlke has stepped down as EVP and CFO, and Matthew Engel will serve as interim CFO until a permanent successor is named. Richard joined as CFO in '07, when he oversaw the financial integration following Grubb & Ellis' merger with NNN Realty Advisors. *** Richard Baxter, Jon Caplan, Ron Cohen, and Scott Latham joined Jones Lang LaSalle to lead its NYC Capital Markets business. The foursome, who were most recently at Cushman & Wakefield, have an investment sales transaction track record exceeding $20B in the past decade, with notable transactions including The Plaza Hotel, 666 Fifth Ave., The Seagram Building, and the MetLife Building. *** Cushman & Wakefield promoted Mitti Liebersohn to vice chairman. He joined C&W in '97, and now oversees one of the firm's largest national account portfolios and has been involved in many of the its largest tenant representation and portfolio assignments in the U.S. and globally. Clients represented include AXA Equitable, Deloitte, and New York Life. *** Bill Elder joined Cushman & Wakefield as senior managing director in its Strategic Agency Services Group, where he will be responsible for pursuing new leasing agency business and oversee the marketing and leasing programs for existing clients. He was previously with the Ruben Co., and held positions at SL Green, Reckson Associates, and Shorenstein. He is a graduate of Wagner College. *** Cushman & Wakefield promoted Robert Donnelly Jr. to executive director, based in the firm's Morristown, NJ office, where he specializes in corporate and investment sales as part of the Metropolitan Area Capital Markets Group investment sales team. He joined C&W in '02, and has been involved in more than $1.4B in sales. He is a graduate of Appalachian State University. *** Craig Robinson joined Cassidy Turley as president of Corporate Services, focusing on the expansion of the firm's real estate and outsourcing solutions for corporations, healthcare organizations, and public institutions, and assuming responsibilities for business development, account operations, and strategic planning. He was previously with CB Richard Ellis' Global Corporate Services, and held positions at AIG, Trammell Crow, Arthur Andersen, and Goldman Sachs. He is a graduate of Harvard Business School and MIT. *** Bob Martie joined Colliers International as EVP of the NJ region. He was previously with Kwartler Associates, and held positions at Advance Realty Group and The Gale Co. He is a graduate of the University of Oklahoma. *** Moshe Majeski returned to Meridian Capital Partners as managing director. He left in '08 to launch an investment sales business. *** Alicia Popper joined Savitt Partners as senior managing director, where she will be working closely with the firm's tenant and ownership brokerage on high-profile assignments throughout NYC. She was previously with Murray Hill Properties, and held positions at Newmark & Co. and Sylvan Lawrence Co. She is a graduate of SUNY Stony Brook. *** NAI James E. Hanson promoted Jeffrey DeMagistris and Thomas Vetter to VP. Both transacted almost 500k SF in deals valued at $25M last year, with specialization in the NJ Meadowlands market, and industrial landlord and tenant representation. *** Matt Weinreich returned to Hopkins Group, which he co-founded 15 years ago, as managing partner. He left in '98 to join Hines Interests, where he's worked for the past 11 years. He is a graduate of the University of Virginia and Columbia Business School. *** Joseph Barbaccia joined Essential New York Real Estate, the residential division of ATCO, as its new director. He'll oversee all leasing and sales activity for the company, and expand its business in sectors like corporate relocation, hospitality and extended stay, and onsite leasing. He previously owned boutique residential firm Joseph Gregory, and held positions at Prudential Douglas Elliman, Chase Manhattan Bank, and Barclays, among others. *** The NYU Schack Institute of Real Estate named professor Constantine Kontokosta as director of the new Center for the Sustainable Built Environment, which provides timely and practical knowledge aimed at facilitating innovation in sustainable development practices and technologies. He is a graduate of UPENN, NYU, and Columbia, and is completing his PhD in Urban Planning and Economics at Columbia. |
