The Deal Sheet
LEASING
Hughes Hubbard & Reed renewed 226k SF in the Rudins' One Battery Park Plaza (above) for 20 years. NGKF's Neil Goldmacher, Chris Mongeluzo, and Mark Weiss worked with Hughes Hubbard & Reed's Sam Sultanik, Jillian Kane, and Gerard Cruse, and Rudin's Thomas Keating repped the landlord.
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Big absorption on Sixth Avenue. Mayer Brown leased 187k SF in The Rockefeller Group's 1221 Ave of the Americas between 48th and 49th streets and will relocate late next year. CBRE's Bob Flippin, Andrew Sussman, Anthony Dattoma, and Lauren Crowley repped the tenant, and Rockefeller's Edward Guiltinan Sr. and C&W's John Cefaly repped the landlord.
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Meister & Seelig leased 57k SF in SL Green's 125 Park Ave. Avison Young's Jason Meister repped the tenant, and NGKF's David Falk, Brian Waterman, Peter Shimkin, Daniel Levine, and Jonathan Tootell repped the landlord.
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RainMen USA, repped by Cassidy Turley's Hal Lichtenstein, leased 52k SF long-term in Alfred Sanzari Enterprises' industrial campus in Norwood, NJ, consolidating from two buildings into 10 Maple St and increasing its footprint by 15k SF. MRH Real Estate's Mitch Helfman repped the landlord.
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Terreno Realty Corp leased 75k SF in Elizabeth, NJ, to a 3PL. The lease expires Dec. 31, 2018.
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Hill Wallack, repped by Mercer Oak Realty's Sab Russo, leased 44k SF in Roszel Square's 19 Roszel Rd, which will deliver in early 2015 in Princeton. Cassidy Turley's Milton Charbonneau repped the developers, Gottesman Real Estate Partners and Mountain Development Corp.
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Plaza College leased 40k SF in Muss Development's Forest Hills Tower for its main campus, relocating from Jackson Heights in a year. JLL's Ken Siegel, Bill Korchak, and Kyle Crennan repped the landlord, and CBRE's Roy Chipkin repped Plaza College. Muss is negotiating with new tenants as FEMA gives back the space it took immediately after Sandy.
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Alok Industries, repped by Evo's Barry Bernstein and Bloom Real Estate's Scott Bloom, leased 18k SF in 105 Madison Ave at 30th Street, and Prosek Partners, repped by DTZ's Joe Weinberg, took 13k SF there, relocating from Fifth Ave. NGKF's Paul Davidson and Michael Frantz repped the landlord.
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Tarte Cosmetics, repped by Hidrock Realty's Robert Kaplan, took 15k SF in Savanna's 1375 Broadway. Colliers' Eric Meyer, Martin Meyer, and Michael Thomas repped the landlord.
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Capstone Executive Offices leased 11k SF in 30 Wall St for 10 years, starting in the mid-$30s/SF after a year of free rent, according to CompStak.
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The Association of Magazine Media took 12k SF in RFR's 757 Third Ave for 10 years. Compstak reports that rent will start in the mid-$50s/SF after about six months of free rent.
FINANCING
The Bromley Cos closed a $48.4M, 30-year refi on the 236k SF office and retail building at 122 Fifth Ave between 17th and 18th streets (above). Meridian Capital Group's Aaron Appel arranged the financing with First Republic Bank.
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Meridian Capital's Alan Friedman also negotiated a $16.7M refi 188 units and 10 stores across 12 Bronx buildings.
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Madison Realty Capital bought seven loans with a balance of $24.5M from Capital One. The properties involved: a 138k SF mixed-use building with 89 residential units under construction in Coney Island, an 18-story condo building on 95th Street on the East Side with six units remaining for sale, a five-unit condo building with a medical office unit leased to a major hospital and a 70-space parking garage in Bushwick, a three-unit retail condo building on Baxter Street and an underground parking garage net-leased to the operator in Little Italy, and a retail condo leased to a restaurant/bar within a Midtown South residential high-rise.
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Madison Realty Capital also closed a $40.2M loan for a client to buy back from Lehman Brothers, at a discount, $50M of debt on a development site at 37th and 11th. The loan helped the borrower regain control of the site and funds predevelopment work for a 265k SF, 420-key hotel there.
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Hunter Hotel Advisors advised on the $11.5M recap of Inner Circle Capital's Ramada Plaza Hartford Downtown.
SALES
GLL Real Estate Partners acquired Two River Terrace, a 67k SF, 369-space parking facility at 300 Murray St in Battery Park City North that's net-leased to Goldman Sachs. JLL's Richard Baxter, Jon Caplan, Ron Cohen, and Scott Latham repped the seller. A source tells us the price was $53M.
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HFZ bought the 145k SF Splash Park at 140 Hopper Ave in Waldwick, NJ, for $22M. It's fully leased to 13 mostly sports-related tenants. NAI James E. Hanson's Hal Messer and Dominic Fittizzi repped the seller, Splash Park LLC.
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Onyx Equities and Artemis Real Estate Partners acquired the 230k SF, 64% occupied Mount Kemble Corporate Center in Morristown, NJ, and will reposition the office complex as a high-quality, low-cost alternative to the other Class-A properties in the submarket.
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Arrowpac, repped by C&W's Daniel Badenhausen and Andrew Stypa, bought the 77k SF warehouse at 85 Twin Rivers Dr in East Windsor, NJ, from Highstown Associates and will relocate from Secaucus.
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Terreno Realty Corp bought East Hanover, NJ's 54k SF 9 Melanie Ln, 81k SF 11 Melanie Ln, and 32k SF 15 Melanie Ln industrial properties for $20M. They're 94% leased to 37 tenants, including FedEx's full lease of 9 Melanie.
DEVELOPMENT
Riverhead Charter School's $14.1M, 50k SF 3685 Middle Country Rd on six acres in Calverton in Suffolk County. Once complete, the school's two existing permanent structures will be converted into storage and other miscellaneous uses.
