This Week's NY Deal Sheet
Related has picked up a McDonald’s location at 435 10th Ave, the final piece of land it’ll need for 50 Hudson Yards.
No plans have been released for the mixed-use project but it’ll have 3.3M SF of development rights and could reportedly reach 1,000 feet. Related’s been chipping away at the assemblage along 10th Avenue between 33rd and 33rd streets for the past seven years, most recently scoring a five-story former industrial building at 507-511 West 33rd St this August for $30M.
TOP SALES OF THE WEEK
Unizo Real Estate NY Three bought 370 Lexington Ave from Sherwood 370 Lexington for $247M.
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HLP properties bought 119 West 24th St for $86.6M from the Kaufman Organization.
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HLP properties bought 155 West 23rd St for $57.2M from Extell Development.
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1300 FLUSHING OWNER bought 1312 Flushing Ave in Brooklyn from Lincoln Property for $46M.
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HLP properties bought 19 West 24th St from Kaufman Realty for $42M.
109 South 5 Property bought 109 South Fifth St in Williamsburg from Kenny Stier for $42M.
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HLP properties bought 13 West 27th St from Kaufman Realty for $38.8M.
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609-619 West 135 Street LLC bought 609 West 135th St from E&M Management for $31M.
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609-619 West 135 Street LLC bought 611 West 135th St from E&M Management for $31M. [Sales data courtesy of Reonomy]
LEASES
St. Luke’s School is expanding its 40k SF footprint at 487 Hudson St by 20k SF. Denham Wolf’s Stephen Powers repped the landlord.
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FreshDirect signed a 20k SF lease at 630 Flushing Ave in Brooklyn, in a direct deal with the landlord, Acumen Capital Partners.
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Mullen Lowe Group upped its existing footprint at 386 Park Ave South by 13k SF. JLL’s Robert Romano and Scott Panzer repped the tenant. Newmark Grubb Knight Frank’s David Falk, Eric Cagner, Alex Leopold and Jonathan Franzel repped the landlord, HSR Corp.
IBI Group signed an 8,700 SF lease at 44 Wall St. DTZ’s Matthew Fisher and Yarden Drimmer repped the tenant. ABS Partners’ Keith Lipstein, Jay Kreisberg, Joe D’Apice and Gregg Schenker repped the landlord.
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Manhattan Center for Kitchen and Bath signed a 5,700 SF lease at 41 West 25th St. ABS Partners’ Mark Tergesen and Robert Kempner repped the tenant. CBRE’s Sean Moran, David LaPierre and Cassie Durand repped the landlord, Hanover Estates.
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AiCure, IPONWEB and Wilson Daniels Wholesale each signed 5,150 SF leases at 19 West 24th St. Working Realty’s Josh Prottas repped AiCure. Ellman Realty Advisors’ Marc Ellman repped IPONWEB. Lee & Associates’ John Cannon repped Wilson Daniels. The Kaufman Organization’s Grant Greenspan, Michael Heaner and Elliot Warren repped the landlord in-house on all three deals.
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Zanella signed a 5,100 SF lease at 590 Fifth Ave. Newmark Grubb Knight Frank’s Billy Cohen and Evan Foley repped the tenant. NGKF’s Eric Cagner, Kyle Ciminelli and Matt Siegel repped the landlord, Thor Equities, alongside Thor’s Adam Rappaport.
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Hao Noodle & Tea signed a 10-year, 4,800 SF lease at 401 Sixth Ave. ATCO’s John Cinosky repped the tenant. Winick Realty Group’s Lee Block, Dana Albert and Ross Burack repped the landlord, Walter & Samuels.
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Clayton, Dubilier & Rice Holdings signed a 4,700 SF expansion to its lease at 375 Park Ave. CBRE’s Clyde Reetz repped the tenant. AJ Camhi and Gregg Popkin repped the landlord, RFR, in-house, alongside a leasing team led by JLL’s Mitchell Konsker and Matthew Astrachan.
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Strategic Value Partners signed a 3,700 SF lease at 375 Park Ave. Newmark Grubb Knight Frank’s Brian Goldman repped the tenant. AJ Camhi and Gregg Popkin repped the landlord, RFR, in-house, alongside a leasing team led by JLL’s Mitchell Konsker and Matthew Astrachan.
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Oscar Wilde’s, a Victorian-themed pub, signed a 3,600 SF lease at 45 West 27th St. Menkin Realty Service’s Victor Menkin repped the tenant. The Kaufman Organization’s Grant Greenspan, Michael Heaner and Elliot Warren repped the landlord in-house.
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Indian restaurant Surya signed a 2,200 SF lease at 154 Bleecker St. RKF’s Ariel Schuster, Greg Covey and Joseph Ponti repped the tenant and the landlord, Broad Street Development.
TOP FINANCING DEALS OF THE WEEK
Goldman Sachs closed on a $650M loan to 590 Madison Avenue LLC for 590 Madison Ave.
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New York State Housing Finance Agency closed on a $479M loan to BOP MW Residential Affordable LLC for 371 Ninth Ave.
JP Morgan Chase closed on a $350M loan to 731 Commercial LLC for 731 Lexington Ave.
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Metropolitan Life Insurance closed on a $150M loan to 33rd T45 LLC for 120 West 45th St.
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Wells Fargo closed on a $141M loan to 131 Spring Fee Owner LLC for 131 Spring St.
[Financing data courtesy of Reonomy]
