This Week's NY Deal Sheet
Despite the cold weather of the last week, the New York City property market remained hot with a bundle sale of hospital buildings, a few major apartment buildings changing hands and some major companies moving offices.
TOP LEASES
Yodle is subletting 56K SF of its 114K SF of offices at 33 West 34th St. to Outcome Health. The asking rent is between $60 and $80/SF in the building. Cushman & Wakefield’s Peter Trivelas, Dirk Hrobsky, Chris Helgesen and Gary Ceder represented Yodle in the deal. Sacha Zarba and Jeff Fischer of CBRE negotiated on behalf of Outcome.
***
Transactis is leasing 15K SF in the Koreatown building where it has been for five years. The company will move to the 10th floor of 1250 Broadway in the second quarter of 2017. JLL's team of Paul Glickman, Mitchell Konsker, Diana Biasotti, Benjamin Bass and Harley Dalton represented the landlord, Global Holdings. The tenant was represented in-house.
***
Meal-delivery service Plated will be moving to 23K SF of offices at the Kaufman Organization’s 111 West 19th St. in Chelsea. The 10-year lease will more than double the company’s footprint from its current location at 22 West 19th St. The office space rents from the high $60s to $80/SF.
***
Bjarke Ingels Group moved from 61 Broadway to 50K SF at Two Trees Management's 45 Main St. in Dumbo, Brooklyn. BIG was represented by the CBRE team of Mary Ann Tighe, Tim Depsey, Ken Rapp, Chris Mansfield and Peter Gamber.
***
Movie and TV show producer Lionsgate signed an early renewal and expansion at 530 Fifth Ave. The "La La Land" producer will occupy the 34K SF fifth floor. Asking rates in the building range from the upper $50s to high $70s/SF. The landlord, RXR Realty, was repped by Daniel Birney, Alexandra Budd and the Avison Young team of Mitti Liebersohn, John Ryan, Anthony LoPresti and Michael Leff.
***
Private equity firm Welsh, Carson, Anderson & Stowe signed a 31K SF lease at 599 Lexington Ave. in Midtown relocating a few blocks fromits current offices on Park Ave. The firm signed an 11-year lease for portions of the building’s 17th and 18th floors. Asking rates in the building range from the low to mid-$80s/SF. The CBRE team of Peter Turchin, Christie Harle, Arkady Smolyansky, Evan Fiddle and Caroline Merck represented the landlord, Boston Properties. CBRE agents Mary Ann Tighe, Ken Meyerson and Ben Friedland represented Welsh Carson.
TOP SALES
Beth Israel Medical Center completed a bulk sale of four properties at 305 First Ave. for $27.5M, a property at 301 First Ave. for $46.5M and 343 East 17th St. for $13M. Beth Israel announced in May that it would be temporarily closing and selling properties to downsize it’s operations. CIM Group acquired the sites, which include the 140K SF Gilman Hall Tower.
***
Blackstone and Fairstead Capital sold an 18-story apartment building at 312 East 30th St. to A.D. Real Estate Investors for $52M. The building was part of the large portfolio the JV acquired from the Caiola family in 2015.
***
Joseph Noormand’s Meyerson Management bought a $33.5M vacant lot in Hudson Yards from Equity Residential. The lot is on 402 West 38th St.
***
A 12K SF townhouse, better known as the Upper East Side Versailles at 232 East 63rd St., sold for $18.5M. The house was listed in 2015 for $21.5M. In 2008, Ukrainian billionaire Alexander Rovt bought the house for almost $7M and spent $18M on renovations. The buyer and the seller were both anonymous LLCs.
TOP FINANCING DEALS
Lloyd Goldman’s BLDG Management secured a $70M refinance on its rental building on Broadway on the Upper West Side. The mortgage on the 26-story building, at 2380 Broadway, was provided by State Farm Realty. Financing includes a new $39.5M mortgage and replaces an outstanding $40.5M on a $43M loan issued by Signature Bank in 2010.
***
Park Tower Group closed a $160M deal to refinance its 36-story, 444K SF office building on 535 Madison Ave. in the Midtown Plaza District. Northwestern Mutual Life Insurance provided the loan, according to records filed with the city on Thursday. The loan consolidates a $30M mortgage and $130M unpaid balance on a $95M loan issued by the lender in 2007.
***
Madison Realty Capital provided an $18M first mortgage loan to finance the purchase of an eight-property 64K SF multifamily and mixed-use set of properties in Greenpoint, Brooklyn. The portfolio consists of 3 Sutton St., 657 Meeker Ave., 661 Meeker Ave., 667 Meeker Ave., 669 Meeker Ave., 673 Meeker Ave. and 164-166 Kingsland Ave. The purchaser provided $11M in cash equity to the deal.
***
The New York State Housing Financing Agency underwrote a $139M loan to Fetner Properties as a mortgage for an apartment building on 501 West 41st St.
***
Bank Hapoalim underwrote a $25M mortgage for Ashkenazy Acquisition Corp for a commercial building at 3560 Broadway.
