This Week's NY Deal Sheet
Interpublic will move out its offices in 1114 Sixth Ave when it moves to the new space. Back in 2012, Interpublic signed a 220k SF deal in the building. JLL’s Scott Panzer, Robert Romano and Shannon Rzeznikiewicz repped Interpublic in the deal, and a CBRE team of Howard Fiddle, Anthony Dattoma, Evan Fiddle and Lee Cross repped Forest Laboratories. Interpublic’s been moving around a lot this year: It announced a 278k SF lease at Brookfield’s 5 Manhattan West in January.
EXECS
Atlanta-based developer Wood Partners has opened a Manhattan office and brought on Rashid Walker as its director. The new office will cover Wood Partners’ efforts throughout the Tri-State area. Rashid started out in real estate at Avalon Bay Communities, before moving on the JP Morgan Asset Management, and later to Jefferson Apartment Group, where he was a VP in charge of real estate development.
SALES
Three LES mixed-use buildings at 106 Ridge St, 114 Ridge St and 118 Ridge St sold for $50M. Eastern Consolidated’s Deborah Gutoff and Ronda Rogovin repped both the buyer and the sellers, Judah Klausner and Richard Freedman.
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TerraCRG closed on the sale of an 87k BSF development site at 319 Schermerhorn St in Downtown Brooklyn for $33M. TerrCRG’s Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez repped both buyers, Adam America Real Estate and Naveh Shuster Ltd, as well as the seller, SC Nevins LLC. Plans for the site call for a 21-story mixed-use building with 73 luxury condo units and 3,100 SF of retail.
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Thor Equities bought the retail co-op at 42-43 Greene St in Soho for $10.5M. GFI’s Shawn Sadaghati repped the buyer, and GFI’s Ben Katz repped the seller, Bisazza, a mosaics company based in Venice, Italy.
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51-17 108th St, a mixed-use building in Corona, Queens, sold for $4.25M. Falco Isak Realty Services’ Rubin S. Isak and John A. Falco were the sole brokers on the deal.
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337-343 Manida St (also known as 240 Barretto St), a warehouse building in the Hunts Point section of the Bronx, sold for $4M. The Manhattes Group’s Alan Shmaruk and Michael Sherman repped the buyer, and Pinnacle Realty’s Ariel Castellanos and Federico Mazzeo repped the seller.
RFR signed a 30k SF lease in its 190 Bowery for a yet-to-be-named consortium of fashion talent agencies and archives. The consortium’s headed by Trunk Archive CEO Matthew Moneypenny. NGKF’s David Falk repped the tenant, and RFR’s AJ Camhi repped the landlord in-house.
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The Staten Island Behavioral Network signed a 7,300 SF lease at Muss Development’s Eltingville Shopping Center at 4310-4370 Amboy Rd in Staten Island. Muss’ Bill Bergman repped the landlord in-house.
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Sparks Marketing Group signed a 5,400 SF lease 42-44 Greene St in Soho. Asking rent was $72/SF. Savitt Partners’ Elliot Zelinger and Caroline O’Connell repped the tenant, and Grand Greene’s David Zar repped the landlord.
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Drybar, a “blow dry bar” salon chain, signed a 14-year, 3k SF retail lease at 270 Madison. The Greenberg Group’s Steven Greenberg repped the tenant. ABS Partners’ John Brod, Mark Tergesen and Dean Valentino repped the landlord. Asking rent was $125/SF.
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Smashburger signed a 2,550 SF lease at Muss Development’s Eltingville Shopping Center at 4310-4370 Amboy Rd in Staten Island. Muss’ Bill Bergman repped the landlord in-house.
FINANCING
Meridian Capital brokered a $325M loan from GE Capital to go towards RXR Realty’s purchase of 32 Old Slip for a total of $675M. Meridian senior managing director Rael Gervis negotiated the debt.
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CBRE’s Capital Markets’ Debt & Structured Finance team closed on a $15M loan for Playhouse Square, a 39k SF retail property in Westport, CT. It’s owned by HB Kitkin Group. The 10-year, fixed-rate loan has a coupon rate of 4% at 75% LTV. CBRE’s Mark Fischer and Alex Furnary worked on the deal.
