This Week's NY Deal Sheet
The New York City Department of Citywide Administrative Services signed two long-awaited lease renewals, actress Demi Moore sold her Central Park West penthouse for $30M below asking price, and Morgan Stanley together with Goldman Sachs lent Lineage Logistics $1.3B in a busy week of New York City deals.
TOP LEASES
NYCDCAS signed two lease renewals totaling 424K SF for Human Resources Administration offices in Manhattan and the Mott Haven neighborhood of the South Bronx. It renewed a 20-year lease for the entire 12-story, 350K SF Gould Investor's building at 109 East 16th St., paying roughly $45/SF. Cushman & Wakefield's Robert Giglio and JRT Realty's Ellen Israel represented the city in the deal, while the landlord was repped in-house by Mark Lundy. The agency also signed a 15-year, 74K SF lease at 305 Rider Ave. in the Bronx. NYCDCAS was repped by Giglio and Israel again while the landlord, Rider Realty, had no broker.
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Tommy Hilfiger is growing ever so slightly at RFR Realty's 285 Madison Ave. The clothing brand is adding almost 9K SF to its hold in the building, increasing its footprint to almost 206K SF. Asking rent for the 16-year, seven-month lease was $78/SF. AJ Camhi represented RFR in-house with a JLL team of Alexander Chundoff, Dan Turkewitz and Diana Biasotti, while Tommy Hilfiger was repped by Mitchell Konsker, Matthew Astrachan and Steven Bauer.
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IBM signed a deal with WeWork to take 70K SF of the 10-story, 87K SF building the co-working company manages at 88 University Place.
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Cyrus Capital Partners signed a 15-year lease to move its headquarters to 23K SF of Park Avenue Tower at 65 East 55th St. The investment adviser will take the entire 34th floor and part of the 35th floor in the 36-floor building. Asking rent is $150/SF. The landlord, Equity Office, an affiliate of Blackstone Group will build out the space for Cyrus Capital. Equity Office was repped in-house by Zachary Freeman and Scott Silverstein alongside an NGKF team of Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman, while Cyrus Capital was repped by CBRE's Ben Friedland and Silvio Petriello.
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PetSmart signed a 16K SF lease at Savanna's building at 10 Madison Square West. RKF vice chairman Ariel Schuster and vice president Brian Segall along with Metro Commercial's Tom Londres and Brian Goodwin represented PetSmart, while Savanna was repped by JLL's Amy Zhen and Hilary Sievers.
TOP SALES
MDG Design and Construction and the nonprofit Housing Partnership bought the 498-unit, 25-story Michelangelo Apartments rental building at 225-255 East 149th St. in the South Bronx for $78.1M. The 547K SF building was sold by BSR Management.
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Actress Demi Moore sold her triplex penthouse in the south tower of the San Remo at 145-146 Central Park West for $45M. She initially put the property on the market for $75M in 2015. Adam Modlin brokered for Moore, and the buyer was listed in public records as M2 Trust.
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Isaac Kassirer sold a six-building multifamily portfolio in the north Bronx to Pistilli Realty Group for $38.5M. The 187K SF package includes 209 rent-stabilized apartments. The addresses are 2442 Morris Ave.; 2226, 2322 and 2333 Loring Place North; and 1715 and 1727 Walton Ave. Marcus & Millichap's Seth Glasser, Michael Fusco, Peter Von der Ahe and Joe Koicim represented Pistilli, while Rosewood Realty Group's Aaron Jungreis represented Kassirer.
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TA Realty, a Boston-based asset manager, bought the six-story, 21K SF building at 1200 Sixth Ave. for $40M from two families. Darcy Stacom of CBRE marketed the building on behalf of the sellers. The building is 70% leased.
TOP FINANCING DEALS
Morgan Stanley and Goldman Sachs lent Lineage Logistics $1.3B to refinance its self-storage facility portfolio. Collateral comprised 54 warehouses and distribution facilities comprising 12.2M SF.
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Intercontinental Hotels Group closed on a $290M refinance of the New York Barclay Hotel in Midtown East. Deutsche Bank is the lender on the 14-story hotel at 111 East 48th St.
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Sherwood Equities secured a combined $232M to refinance two Times Square buildings at 1600 Broadway and 2 Times Square. German Bank Helaba provided the 10-year financing.
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Wildenstein & Co. borrowed $90M to refinance its five-story Upper East Side townhouse at 740 Madison Ave. JPMorgan Chase was the lender, providing a new $55M mortgage and $35M in existing debt.
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Robert Wolf's Read Property Group and Joseph Tabak's Princeton Holdings secured an $85M loan for their Rheingold Brewery site at 930 Flushing Ave. in Bushwick. LoanCore Capital Credit REIT provided the loan, consolidating a $55M gap mortgage with a $30M loan from Signature Bank.
