This Week's N.Y. Deal Sheet
While leasing was sparse this week, New York City property sales were on the rise.
TOP SALES
The William Macklowe Co. and Senlac Ridge Partners bought a Key Food grocery store at 120 Fifth Ave. in Brooklyn for $59M, The Real Deal reported. The seller, Avery Hall Investments, was represented by Cushman & Wakefield’s Adam Spies, Douglas Harmon, Adam Doneger and Dan O’Brien. The future development plan for the building includes 165 residential units with 25% affordable, 90K SF of retail and a fitness center.
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UBS Realty Investors bought a 41-unit residential property at 19-23 St. Mark’s St., formerly Andy Warhol’s nightclub, The Real Deal reported. The seller, Cape Advisors, developed the property in 2003. It was sold for $35M.
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Cofinance Group SA bought two three-story, mixed-use buildings at 219-221 East 59th St. for $10.9M, JLL announced. The buildings contain 11K SF of residential and retail space, including full-floor apartments on the second and third floors of both buildings. JLL’s Tom Gammino, Clint Olsen, Albert Mamiye, Connor Murphy, Jeremy Simon and Chris Skitch represented the seller, GAK Properties LLC. Kassin Sabbagh Realty’s Jeffrey Znaty represented the buyer.
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PFH 58th Street LLC bought a 12K SF property at 242 East 58th St. in Manhattan for $11.5M, PincusCo. reports. Two of the sellers, Edith Lynn Nickel and Aubrey Balkind of Lanson Properties Inc., had been in a legal dispute prior to the sale. They bought the property for $20M in 2017. Avison Young’s James Nelson, David Shalom, Eric Karmitz and Carter Lovejoy brokered the deal.
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Habib American Bank bought the Midtown headquarters of the Children’s Aid Society at 150 East 48th St. for $28.25M, The Real Deal reported. JLL’s Bob Knakal, Jon Hageman, George D’Ambrosio and Clint Olsen brokered the deal for the seller. The Children’s Aid Society plans to move to a new location in 114 West 125th St., which it bought earlier this year.
TOP FINANCING DEALS
New Empire Corp. scored a $62.8M construction loan for 208 Delancey St. NYREJ reported. Naftali Credit Partners financed the debt on the 12-story condominium development.
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Leser Group picked up a $21.2M loan on its 20K SF building located at 101 Fleet St. in the Fort Greene neighborhood of Brooklyn, PincusCo reports. Metropolitan Commercial Bank provided the debt. The building houses Brooklyn Community Services' Duffield Children’s Center.
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Constellation Hotels Holding Limited and InterContinental Hotels Group picked up a $230M loan on their 444K SF hotel at 111 East 48th St. in the Plaza District, TradedNY reported. The National Bank of Kuwait provided the loan.
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Gregory Paul Miscio obtained a $14.9M loan from New York Community Bank on his 112-unit multifamily property at 3224 Grand Concourse in the Riverdale neighborhood of the Bronx, PincusCo. reports.
TOP LEASES
Home decor retailer At Home signed a lease at The Rego Center, located at 61-35 Junction Blvd. in Queens, The Real Deal reports. The lease is for approximately 130K SF and the rent will be between $20 and $30 per SF. The shopping center is owned by Alexander Inc.
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SL Green signed leases with two private equity firms for 10K SF each on the 24th floor of One Vanderbilt. The tenants, InTandem Capital Partners and Sagewind Capital LLC, were represented by JLL’s Lloyd Desatnick. CBRE’s Robert Alexander, Ryan Alexander, Emily Jones and Alex D’Amario represented SL Green.
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Oak Hill Advisors expanded its lease with SL Green at One Vanderbilt by 24K SF. Oak Hill Advisors was represented by Newmark Knight Frank’s Lance Korman, Brian Waterman and Jared Horowitz.
