This Week's NY Deal Sheet
Blackstone’s made its first foray into Flushing, Queens with the acquisition of a 560k SF mixed-use mall and condo property called Sky View Parc, for $400M, through its Blackstone Property Partners Fund.
Onex, a Toronto-based private equity firm, redeveloped the property with Muss Development. Onex bought out Muss’ share late last year. The 14-acre project has three condo towers and broke ground recently on three more. The mall, situated near the last stop on the 7 Train, is near full occupancy with a tenant roll that includes Nordstrom Rack and a Nike outlet store. Eastdil Secured repped Onex on the sale.
EXECS
Jonathan Rose Cos has named Sanjay Chauhan as its new CFO. Most recently, Sanjay served as CFO of Urban American.
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JLL has brought on Phil Kirschner as SVP of workplace strategy. He’ll be working out of JLL’s NYC office. Phil comes to JLL from Credit Suisse, where he most recently led workplace strategy for the Americas.
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New York REIT appointed Randolph C. Read non-executive chairman of its board of directors. Randy has served as president and CEO of Nevada Strategic Credit Investments since 2009.
SALES
152 Ludlow St and 149-151 Essex St on the LES have been sold by two JV’s to HUBB, NYC. Jonas Realty’s Nathan Halegua, Josh Halegua and Martin D. Newman, an independent investor, are the principals of one JV, and Four Winds Real Estate’s David Schneiderman and Joshua Landau are the principals of the other. JLL’s Glenn Tolchin, Yoac Oelsner, Anothony Ledesma, Jason Gold and Richard Baxter repped the two JVs, alongside Eric Hoberman of the law firm Kriss & Feurstein.
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Thor Equities closed on the $17M buy of 734 Broadway, which has 6k SF of retail. Town Commercial's Jonathan Butwin and Scott Dweck repped Thor. Extell, the seller, handled the sale internally.
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Thor Equities, along with Premier Equities, bought a 3,500 SF retail condo at 37-39 Greene St in Soho, for $12M. Public Records list Stephen Bluttal as the seller. No information on brokers has been released on the deal.
LEASES
Law 360 signed a 46k SF lease at 111 West 19th St. NGKF’s Paul Ippolito repped the tenant. Steven Kaufman, Barbara Raskob and Yvonne Chang repped the landlord, the Kaufman Organization, in-house.
Fairway signed a 40k SF lease at 2149 Ralph Ave in Bed-Stuy. Brokers on the deal haven’t yet been announced.
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Tube Mogul signed a 19,300 SF sublease at 114 Fifth Ave, from First Look Media. NGFK's Eric Cagner, Gregory Wang and Jonathan Tomasco repped Tubemogul. Savills Studley's Ken Ruderman, Gary Stein and Chris Brandt repped First Look.
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The Association of National Advertisers is adding 18k SF to its existing 23k SF of space at 708 Third Ave. Savills Studley’ Daniel Horowitz and Jeffrey Peck repped the tenant. Landlord Marx Realty & Improvement Co.’s Claude Chandonnet repped the landlord in-house.
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Gwynnie Bee signed a 12,700 SF lease at 30-30 47th Ave in LIC. NGKF’s Robin Fisher and Christie Bennett repped the tenant. NGKF’s Howard Kesseler, Brian Waterman, Jordan Gosin and Brett Bedevian repped the landlord, Atlas Capital Group.
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Howl at the Moon, a piano bar chain with locations around the country, signed its first NYC lease good for 12k SF at 240 West 52nd St. Lee & Associates’ Robert Kunikoff and Richard Kave repped the tenant, and Menkin Realty Services’ Victor Menkin repped the landlord.
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Bit.ly signed an 11k SF lease at 139 Fifth Ave. CBRE’s David Kleinhandler and Michael Politi of repped Bitly. Cushman & Wakefield’s John Fitzsimons, Ethan Silverstein and Mark Mandell repped the landlord, Thor Equities.
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SiteCompli signed an 11k SF lease at 45 West 25th St. JLL’s James Wenk and Kirill Azovtsev repped the tenant. Savills Studley’s Chris Foerch, Jeffrey Peck and Jason Perla repped Bonobos, which is subleasing the space.
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The Eatery signed a 15-year, 1,400 SF lease at 788 Ninth Ave. Eastern Consolidate'd James Famularo and Jeff Geoghagan repped the owner. Eastern's Ravi Idnani repped the tenant.
FINANCING
Meridian Capital brokered a $22.8M mezzanine financing deal for Soloman Plaza, a retail and office property in Brooklyn. Signature Bank issued the $15M senior debt and a $7.8M mezz worth of mezz debt. The two-year debt carries a rate in the mid-5% range.
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Santander Bank closed on a $21M construction loan for a multifamily development at 336 Himrod St in Bushwick. JLL's Jonathan Schwartz and Max Herzog led the team that brokered the deal.
