This Week's NY Deal Sheet
REBNY has appointed James Whelan to EVP. James, a lifelong New Yorker, has been REBNY’s SVP for public affairs since 2010.
The EVP post is a newly created position at REBNY that will allow James to be a driving force behind the organization's political advocacy and communication efforts. James (here promoting energy conservation in his office), played a key role in pushing for the 2004 Downtown Brooklyn rezoning as head of the Downtown Brooklyn Council, which he founded in 1999 and left in 2004. At the council, which was an economic development advocacy organization, he oversaw creation of the Downtown Brooklyn Plan, a blueprint for Downtown Brooklyn's redevelopment that has resulted in $300M in public investment and $3.9B in private investment since 2006. After that, he was senior adviser to deputy mayor for economic development Daniel Doctoroff in the Bloomberg administration. James joined Muss Development in 2008, serving as SVP of public affairs. James tells Bisnow his focus will initially be on two main areas. First, he'll work to ensure that the reincarnation of the 421-a affordable housing tax break that the de Blasio administration proposed is passed by the state legislature. “This administration stepped up to the plate on this issue,” he says, “and I’d like to help see this through.” He’ll also work on streamlining the city’s convoluted landmarking process, which, he says, can result in a building being “calendared” for landmarking for years or even decades before a landmarks designation is made official.
MORE EXECS
The Carlton Group has hired Cher Chang and Jianhao (Michael) Zeng to join the firm’s equity placement team. Cher’s background is in residential sales, commercial acquisitions, rezoning subdivisions and capital markets. She’s lived in Vancouver for most of the last 10 years and is fluent in English and Mandarin. Jianhao has worked at China Merchants Bank in China and speaks English, Mandarin and Cantonese. Both new hires will work with Carlton chairman Howard Michaels and the firm’s equity-raising specialists on debt placement strategies in NYC and around the world.
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SGW Properties has hired Neil Stern as VP of corporate development. He’ll help the firm identify investment opportunities; oversee property management for the company’s portfolio; work with lenders to finance new acquisitions; and spearhead initiatives to expand the company’s presence in Brooklyn and throughout NYC. Prior to joining SGW, Neil was director of marketing for Senior Planning Services, a healthcare services consulting group.
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Blackstone has appointed former US Deputy Secretary of State William J. Burns as senior adviser. He’ll provide the firm with strategic counsel on geopolitical issues. William is currently president of the Carnegie Endowment for International Peace. His distinguished career as a diplomat spanned 33 years, ending with his retirement as Deputy Secretary of State in 2014. He also served as undersecretary for political affairs and US Ambassador to Russia from 2005 to 2008, among other posts.
SALES
Friedman-Roth Realty sold a portfolio of five apartment buildings on Manhattan's East Side for $21.5M. The buildings are 305 East 56th St, 315 East 57th St and 167/169/171 East 99th St. They total 41,365 SF and have 78 residential units. Friedman-Roth’s Eric Lupo and George Niblock brokered the sale.
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The Harbor Group International sold a 5k SF retail property at 246-248 West 125th St for $16.5M to LargaVista Cos.
LEASES
Time Inc signed a 55k SF lease to bring 300 Manhattan employees from its technology, content solutions and editorial innovation departments to Brooklyn’s Industry City. Savills Studley’s Zev Holzman, Howard Nottingham and Matthew Barlow repped Time Inc. Cushman & Wakefield’s Bruce Mosler, Mitchell Arkin, Kelli Berke, Joseph Cirone, Haley Fisher and Mikael Nahmias repped Industry City.
SeatGeek, an online ticket marketplace, snagged a 27k SF lease at 400 Lafayette St. Office Leasing Center’s Jack Petrie and Eva Shuh repped SeatGeek. ABS Partners’ Jay Caseley, Joseph LaRosa and Charles Conwell repped the landlord, Sand Associates.
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Anthropologie is taking a 15-year, 20k SF lease at 195 Broadway. McDevitt Cos’ Wade McDevitt and Steven Plourde repped the tenant. L&L Holding Co’s David Berkey, alongside Cushman & Wakefield’s Alan Schmerzler and Bradley Mendelson, repped the landlord.
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Blink Fitness signed a 17k SF lease at 227 Fourth Ave in Park Slope. Retail Zone’s Ezra Saff repped Blink. RFK's Brandon Berger, Alex Beard and Eddie Mamiye repped the landlord, Greystone.
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ACA Compliance Group signed a 10-year, 17k SF lease at 1370 Broadway. CBRE’s Zachary Price, Michael Rizzo and Sacha Zarba repped the tenant. Newmark Grubb Knight Frank’s Michael Dreizen and Brian Waterman repped the landlord.
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The Kaufman Organization signed a six-year, 8k SF lease for Weisner Products, an apparel design, marketing and distribution firm, at 132 West 36th St. Asking rents were in the high $40s PSF. Kaufman’s Michael Heaner repped the tenant. Kaufman president Steven Kaufman repped ownership alongside Kaufman’s Barbara Raskob and Yvonne Chang.
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Options Information Technology signed a five-year, 5k SF lease at 850 Third Ave. CBRE’s Sam Seiler repped the tenant. JLL’s Matthew Astrachan repped the landlord.
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Crenshaw Communications signed a five-year, 5k SF lease at 36 West 20th St. CBRE’s Nick Bates repped the tenant. Olmstead Properties’ Daniel Breiman repped the landlord.
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RFR has signed four new leases at 275 Madison. Dentist Stanley Heifetz renewed in the building for 1,136 SF. Brandshare signed a new lease for 3,918 SF. ATCO’s Jared Winter repped Brandshare. Knightsbridge Advisors renewed for 1,565 SF, and Relmada Therapeutics signed a new lease for 5,790 SF. Lee & Associates’ Mitchell Kunikoff and Seth Rosen Jr. repped Relmada. RFR was repped in-house by AJ Camhi alongside a JLL leasing team led by Mitch Konsker.
FINANCING
Vanbarton Group and Metro Loft Management closed on a $240M construction loan for 180 Water St, an office-to-residential conversion. The floating rate debt was issued by an affiliate of Brookfield Asset Management in partnership with Capital One Bank. Cushman & Wakefield’s Steve Kohn, Alex Hernandez and Alex Lapidus repped the borrowers.
