This Week's NY Deal Sheet
The latest marquee lease at 10 Hudson Yards goes to Boston Consulting Group, which signed a 193k SF lease for five full floors as part of plans to expand its workforce in NYC. The company’s based in Boston, but has over 500 employees in NYC staffing its 97k SF office at 430 Park Ave and a subleased space at 315 Park Ave South—both spaces it’ll vacate for 10 Hudson Yards. BCG says it plans to build out the new space with in-house amenities like treadmill workstations, a grab-and-go café and employee lounges on each floor. 10 Hudson Yards topped off this past spring, and this latest deal puts occupancy at the 1.7M SF building at over 90%, according to the developer, Related Cos.
MORE LEASES
WeWork signed its latest NYC lease at 195 Montague St in Downtown Brooklyn, good for 77k SF in an office condo owned by Treeline, Long Wharf Real Estate Partners and KABR Group. Cushman & Wakefield’s Jonathan Serko repped WeWork. Treeline’s Kraig Silver repped ownership.
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Phillips Nizer is renewing its 50k SF lease at 666 Fifth Ave. JLL’s Alexander Chudnoff, Paul Glickman and Scott Vinett repped the tenant. Vornado’s Jared Solomon repped ownership, Vornado and Kushner Cos.
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Wood Smith Henning & Berman signed a 14k SF lease at 685 Third Ave. JLL’s Kirill Azovtsev and Frank Scott repped the tenant, and JLL’s Matt Astrachan and Clark Finney repped the landlord, TIAA-CREF.
Ethan Allen signed a 12,900 SF lease at 915 Broadway. Julius M. Feinblum Real Estate’s Richard Kornblatt and David Hale repped the tenant. ABS Partners’ John Brod, Mark Tergesen, Robert Kempner and Alex Kaskel repped the landlord.
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Artisanal Fromagerie Bistro signed an 11k SF retail lease at 387 Park Ave South. Savills Studely’s Jeff Lagowitz repped the tenant. Winick Realty Group’s Steven Baker and Aaron Fishbein repped the ownership, TF Cornerstone.
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Philippine National Bank signed a 4k SF lease at 561 7th Ave. Cushman & Wakefield’s Gary Ceder and CBRE’s Nick Bates repped the tenant. Scott Galin, Richard Farley and Darell Handler repped the ownership, Handler Real Estate Organization, in-house.
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Douglas Elliman is tripling the footprint of its Park Slope office with a new 2k SF lease at 187 Seventh Ave.
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The Pilates studio WundaBar signed a 10,080 SF lease at 21 Thompson St. Eastern Consolidated’s James Famularo repped both sides.
EXECS
Meringoff Properties has announced that Jason Vacker will be the company’s new COO, effective immediately. Jason has served as VP and director of leasing for Meringoff’s 16-building, 2M SF portfolio. Until a successor to head up leasing is named, Jason will continue to oversee that part of the company’s operations. As COO, he’ll oversee all property/asset management, leasing, construction and marketing. He’s been with Meringoff for almost eight years. He’s a member of REBNY and is the current membership chairman of YM/WREA.
ABS Partners has tapped Jay Kreisberg as its new director of property management. Jay’s been a senior managing director with ABS since 2007. He’ll now report directly to co-managing partners Gregg Schenker and Peter Burack. In his new role, he’ll oversee the management of all ABS-managed properties and working with ABS brokers to close deals and attract new tenants.
TOP SALES
F.D.R. Industries sold 670 Broadway to 670 Broadway owner LP for $112M.
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Golden Gate Residence LLC sold 83-30 Kew Gardens Rd in Queens to 83-30 Key Gardens Owner LLC for $35M.
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80 Clarkson D LLC sold 80 Clarkson Ave in Brooklyn to 80 Clarkson LLC for $19.8M.
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JAAN 11th LLC sold 24 West 11th St to LLC 24W11 for $19.25M.
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Mutual Housing of New York Inc sold a 77-property portfolio located across Brooklyn to MHANY 2015 Housing Development Fund Corp for $18.4M.
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2306 Realty Co LLC sold 2306 Ocean Ave to Saint Joseph Realty for $15.6M.
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Morris Avenue Properties LLC sold 1711 Morris Ave in the Bronx to 1711 Morris Avenue LLC for $15.4M.
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Capital One sold 807 Manhattan Ave in Brooklyn to 807 Manhattan Avenue Holding LLC for $15.2M.
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159 5 Avenue LLC sold 159 5th Ave in Brooklyn to BK Prime 159 LLC for $13M.
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Morris Avenue Properties LLC sold 1704 Morris Ave in the Bronx to 1704 Morris Avenue LLC for $13M.
[Top Sales data courtesy of Reonomy]
TOP FINANCING DEALS
HSBC closed on a $108M loan to 5 Beekman Property Owner LLC for 115 Nassau St.
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Bank of America closed on an $80M loan to 670 Broadawy Owner LP for 670 Broadway.
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HSBC closed on a $65M loan to 5 Beekman Property Owner LLC for 5 Beekman St.
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Prudential closed on a $39M loan to Sovereign Apartments LLC for 425 East 58th St.
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Capital One closed on a $30M loan to Cosmopolitan Associates III LLC for 48-08 47th St in Queens.
[Top financing deals data courtesy of Reonomy]
