This Week's NY Deal Sheet
Perkins Eastman’s renewing its 77k SF lease at 115 Fifth Ave in Midtown South.
The architecture firm’s had its office on the second, third and sixth floors for 18 years. CBRE’s Stephen Siegel, Harly Stevens and Paul Stimpfle repped Perkins Eastman. The Winter Organization’s Benjamin Winter repped the landlord in-house. Terms of the new lease aren't being disclosed. There’s no clear submarket emerging for architecture firms these days, with giants like COOKFOX and Gensler recently signing leases at 250 West 57th St and 1700 Broadway, respectively.
MORE LEASES
Gulliver’s Gate, a miniature world attraction, signed a 49k SF lease at the former NYT building at 216 West 44th St. EFA Realty’s Erik Alberti repped the tenant, and CBRE’s Lon Rubackin and Gary Trock repped the landlord.
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Wahlburgers signed an 8,300 SF lease at 725 Eighth Ave. This was a direct lease between the tenant and the landlord.
Vroom signed a 5,700 SF lease at 149 Fifth Ave. Cushman & Wakefield’s Douglas Regal and Jamie Katcher repped the tenant. Newmark Grubb Knight Frank’s Jason Greenstein repped the landlord.
Equinix signed a 4,700 SF sublease from 50 CAN, at 102 West 38th St. Norman Bobrow & Co’s Joshua Berger repped the tenant. Adams & Cos’ Jeff Buslik repped the landlord, 38th & 6 Associates.
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ReStore, Habitat for Humanity’s nonprofit home improvement store and donation center, signed a 4,100 SF lease at 62-01 Northern Blvd in Woodside, Queens. CBRE’s Dean Rosenzweig and Jeremy Scholder repped the tenant. Christopher Wierzbicki repped the ownership, Pliskin Realty & Development, in-house.
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Panda Express signed a 4k SF lease at 835 Third Ave. Zelnik & Co’s Cory Zelnik repped the tenant. CityVest Realty Corp’s Mark Stempel repped the landlord.
The New York Chapter of the National Academy of Television Arts and Sciences signed a 2,540 SF lease at 450 Seventh Ave. EVO Real Estate’s Dana Moskowitz repped the tenant. Kaufman Management’s Barbara Raskob repped ownership in-house.
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Greystone Property Development signed a 600 SF lease at 157 Seventh Ave South. Town Residential’s Tom Brady (no relation to the football player; we checked!) and Salvatore Falcone repped both sides.
TOP SALES
AI 229 West 43rd Street Property Owner sold 229 West 43rd St to Oakwood NYT Owner for $295M.
Treeline sold a portion of 180 Livingston St in Brooklyn to Thor Equities for $85M.
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SAP V/ ATLAS WEA ASSOCIATES NF sold 845 West End Ave to Tremada Holdings LLC-West End Ave Series for $55M.
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Lisa Karmin sold 517 West 29th St to Project 29 West Chelsea for $54.8M.
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The Brooklyn Tabernacle sold a portion of 180 Livingston St in Brooklyn to Thor Equities for $51M.
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Ocean King sold 235 West 35th St to NY Times Square Hotel Group for $37.2M.
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Austell TEI LLC sold 47-47 Austell Pl in Queens to Maple Drake Austell Owner for $35M.
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Tri-Boro Shelving & Partition Group sold 296 Wythe Ave in Brooklyn to PH 296 Wythe I for $26.5M.
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246 Tenth Avenue LP sold 246 Tenth Ave to 5002 Second Avenue LLC for $26.5M.
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Kingsway LLC sold 9720 Kings Highway in Brooklyn to MP 9720 LLC for $21.4M.
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W2005Z/18GPS Realty sold 18 Gramercy Park South to 18 GPS Holdings for $17.8M.
[Top sales data courtesy of Reonomy]
EXECS
Sara Rubenstein has been appointed general counsel by Simone Development. Sara previously served as associate counsel for the Americas region at Lend Lease, where she advised senior officers and directors concerning the legal and business impact and implications of transactions, project issues and disputes. Her previous experience as an attorney included working in private practice and as a real estate associate for Herrick Feinstein, where she advised prominent owners, lenders and developers, including REITs and private equity funds in acquisitions, dispositions, developments, financings, workouts, restructurings and JVs.
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Quadrum Global has made two recent major hires. Anoop Rustgi will oversee the NYC assets and underwriting and acquisitions work. Anoop joins Quadrum from Vanbarton Group, where he managed a 1.5M SF portfolio. Prior to Vanbarton, he served as VP of the real estate debt capital markets group at M&T Bank, where he underwrote and syndicated large real estate financings. Robert Hendrickson will head development activity in NYC. He has more than 10 years of experience in architecture, design and construction management, and previously served as senior project manager for Faithful+Gould, where he oversaw the development of high-rise residential properties and hospitality properties for Hyatt Hotels and Hilton Worldwide.
TOP FINANCING DEALS
HSBC closed on a $276.7M loan to BOP NW LLC for 229 West 43rd St.
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BREF IV SERIES A closed on a $197.2M loan to Landings NYT MT for 229 West 43rd St.
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New York Community Bank closed on a $128.5M loan to Plaza 52 LLC for 150 East 52nd St.
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TPG RE Finance closed on an $83.7M loan to Thor Equities for 180 Livingston St in Brooklyn.
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Cathay Bank closed on a $60M loan to Eastern Star Development for 27-17 42nd Rd in Queens.
[Top financing deals data courtesy of Reonomy]
