The Deal Sheet
DEVELOPMENT
BioMed Realty Trust is ready to break ground on 297k SF of lab and office space and a parking structure at The Landmark at Eastview in Tarrytown. The two buildings are pre-leased for 15 years to Regeneron Pharmaceuticals, which will take occupancy in late 2015 and use them for R&D. Regeneron also did an early renewal of 361k SF there through 2029 and has another 313k SF through 2024.
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MCR Development and The Brodsky Org's High Line Hotel on 20th Street will have a soft open next month. Originally student housing for the General Theological Seminary that delivered in 1895, the 60-room property overlooks the High Line and a private garden. The lobby will hold the East Coast's first Intelligentsia Coffee (from Chicago). The property includes the adjacent 3,300 SF Hoffman Hall (built in 1899) for events and meetings. The plot once was an apple orchard owned by Clement Clarke Moore and where he wrote 'Twas the Night before Christmas.
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Morris Court--a pair of apartment buildings totaling 201 units of affordable housing, 30k SF of ground-floor retail, and 185 underground parking spaces--is under construction in the South Bronx and will deliver in June '14. It's part of the Department of City Planning's 2009 Lower Concourse Rezoning.
LEASING
Nyack College/Alliance Theological Seminary has leased 166k SF, doubling its current space at 361 Broadway, at 2 Washington St in FiDi for 20 years, starting May 1. CBREs Gerry Miovski and Christopher Mansfield worked with the college for several years.
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Century 21 has leased three more floors totaling 60k SF at its Downtown flagship (22 Cortlandt St), which will include a Coffee Bean & Tea Leaf cafe and a MAC Cosmetics on the ground floor.
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InterPublic Group took 87k SF at W&H Properties 1400 Broadway and will relocate from 161 Ave of the Americas and 28 & 40 W 23rd St in Q4. JLL's Scott Panzer and Robert Romano repped the tenant, and Newmark Grubb Knight Frank's Scott Klau, Erik Harris, and Neil Rubin repped the landlord.
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A defense, security, aerospace, and transport tech company leased 61k SF in The Hampshire Cos' flex facility at 140 Centennial Ave in Piscataway, NJ. CBRE's Bob Ryan, Jeff Heller, and Robert Pine repped Hampshire, and JLL's Harry Klaff and Chuck Fern repped the tenant.
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Xerox subleased 14k SF from Novantas--which was repped by Cushman & Wakefield's Jonathan Serko, Andrew Ross, and Richard Serko--at 485 Lexington Ave between 46th and 47th streets. JLL's Doug Neye and Matt Astrachan repped the tenant.
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Doras Naturals expanded by 34k SF to 76k in South Hackensack's 21-23 Empire Blvd, which is owned by Alfred Sanzari Enterprises.
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Antillana Supermarket leased a 12k SF, one-story warehouse at 1339 Jerome Ave in the Bronx's Mt. Eden and will convert it to a Spanish-American-grocery store. Kalmon Dolgin Affiliates' Grant Dolgin and Dmitri Gourianov repped the owner, and VIP Realty's Victor Angelillo repped the tenant. KDA itself is converting a 7,500 SF industrial building in Williamsburg, 74 Guerney St, into retail and office space.
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Warburg Realty leased 7,000 SF at 654 Madison Ave between East 60th and 61st streets, relocating from 969 Madison Ave.
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Manhattan Business Interiors leased 5,300 SF for 10 years in 48 W 37th and renewed 8,700 SF there. Adams & Co's David Levy repped Forty Eight Thirty Seven Associates.
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Chelsea Market is adding a 5,600 SF pop-up retail arcade next to the waterfall. Six of the eight spots are already claimed, including by The Root's Questlove and Stephen Starr for Hybrid fried chicken (originally a food truck); NYC's first Los Tacos No. 1; The Nut Box (relocating within Chelsea Market); Cambodian sandwich shop Num Pang, repped by Newmark Grubb Knight Frank's Jay Gilbert; and Decatur & Sons barber shop.
SALES
An affordable housing group sold the 130-unit, 121k SF Logan Plaza at 1423-1425 Amsterdam in Hamilton Heights to a private investor. Ariel Property Advisors' Shimon Shkury, Victor Sozio, and Michael Tortorici arranged the deal. Along with Jesse Deutch, they also worked on the $8.6M sale of the 56-unit, 44k SF 500 Fort Washington Ave in Washington Heights.
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Onyx Equities and Artemis Real Estate Partners acquired the 219k SF Plainsboro Plaza near Princeton.
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The Great Atlantic & Pacific Tea Co and affiliates sold and leased back four A&Ps totaling 120k SF: 895 Paulison Ave in Clifton, NJ; 49 Old Hwy 22 in Clinton, NJ; 1886 Pleasantville Rd in Briarcliff Manor, NY; and 410 W 207th St in NYC. HFF's Jose Cruz, Andrew Scandalios, Kevin O'Hearn, Jeffrey Julien, and Marc Duval repped the seller.
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Besen & Associates'Glenn Raff and Ron Cohen arranged the $20.6M sale of 243, 244, 247, 333, and 335 E 33rd St in Murray Hill: two walk-up and three elevator buildings totaling 63 apartments and two offices, plus 16k SF of air rights.
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Lee Farm Partners, a JV between Summit Development and The Grossman Cos, bought the 216k SF Lee Farm Corporate Park in Danbury, CT, for $16.9M. CBRE's Jeff Dunne, Steven Bardsley, and Patrick Carin o repped the sellers.
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Hudson Realty Capital provided $16M for a new and vacant, five-story, 49-unit elevator building on Meserole Street between Leonard and Lorimer streets in East Williamsburg.
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Federal Realty Investment Trust acquired a Stop & Shop, Walgreens, and Equinox-tenanted shopping center on nine acres across from the Noroton Heights train station in Darien, CT, for $47.3M.
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Home Properties sold the 61-unit South Bay Manor in Sayville for $11.1M.
Spring lasted exactly one day this year. Today: high of 82 degrees. Email amanda.metcalf@bisnow.com.
