This Week's NY Deal Sheet
Mitsui Fudosan America added two banking tenants at 1251 Sixth Ave., Brooklyn developer Cheskie Weisz closed on a deal to buy two Williamsburg development sites, and the National Bank of Abu Dhabi refinanced the Chrysler building in a slow week for real estate deals.
TOP LEASES
McGuire Woods is moving into Mitsui Fudosan America's 1251 Avenue of the Americas. The global law firm signed a 15-year lease, taking 42K SF on the 20th floor and a 1,500 SF portion of the concourse level. Terms of the lease were not disclosed but a recent deal in the building went for $110/SF. NGKF brokers Chris Mongeluzo and Brian Cohen represented McGuire Woods, while a separate NGKF team of David Falk, Peter Shimkin, Eric Cagner, Romel Canete and Nick Berger brokered the deal for the landlord.
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German bank Berenberg Capital Markets decided to move to the entire top floor of Mitsui Fudosan's building at 1251 Sixth Ave. The 10-year deal for nearly 32K SF in the 53-floor building had JLL broker Benjamin Bass representing Berenberg with JLL's Mitchell Konsker and Alexander Chudnoff representing Mitsui Fudosan. Berenberg has been doing business in the United States since 1883.
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United Technologies Corp. is getting a $10M state tax credit to move to Dumbo, Brooklyn. The aerospace and building manufacturer signed a lease to take 67K SF in Midtown Equities' tobacco warehouse-turned-waterfront office space at 55 Water St. The conglomerate plans on investing $300M into the space.
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Related Cos. and GreenOak Real Estate are getting the first tenant at their seven-story, 220K SF converted warehouse at 2110 51st Ave. in Long Island City, Queens. VaynerMedia signed a lease to build a new 43K SF production studio in the complex. Asking rents in the building are in the low $40s/SF. Stephen Winter represented the landlord in-house with Brian Waterman of NGKF. Vayner already has space at 10 Hudson Yards, a quick trip along the 7 Line from its new studio.
TOP SALES
Macao-based casino owner Lawrence Ho purchased a $65M condo unit in 432 Park Ave. from developers Macklowe Properties and CIM Group.
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Developer Cheskie Weisz closed on a deal to buy two Williamsburg, Brooklyn, development sites, 187 Kent Ave. and 50 North 3rd St., from Sam W. Gee for $43M. Weisz filed plans to develop a seven-story, 90K SF building on 187 Kent Ave. in January.
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An LLC linked with real estate investor Michael Besen sold apartment buildings at 2220 Amsterdam Ave. and 2224 Amsterdam Ave. to Amsterdam 2220 LLC for $13M.
Sales data provided courtesy of Reonomy
TOP FINANCING DEALS
The owners of the Chrysler Building refinanced for $300M with the National Bank of Abu Dhabi. The loan replaces a $420M loan from Commerzbank. Tishman Speyer and a group of German investors sold 90% of the building to the Abu Dhabi Investment Council for $800M in 2008.
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KBS Capital Advisors and Savanna secured a $265M refinancing for a mortgage on 110 William St. in the financial district. The package consists of $205M in a senior loan package and two mezzanine loans each of $30M.
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Xinyuan Real Estate's U.S. subsidiary secured a $108M construction loan from Bank of the Ozarks for a new condo project in Hell's Kitchen. The Chinese developer paid $57.5M for the 82-unit project at 615 10th Ave. in November 2015.
