This Week's NY Deal Sheet
Group M’s 170k SF expansion at 3 WTC is in the “very final stages” of completion, with plans to put ink to paper by the end of the year, the New York Post reports.
The ad firm already has 520k SF in the building. The additional space on floors 32-35 will mean Group M will have three separate chunks of space in the building (its current lease is for floors 11-16 and 28-31). Group M will have the option to further expand with the lease, on which it was repped by CBRE’s Mary Ann Tighe and Gregory Tosko. Jeremy Moss (snapped at 3 WTC in September) repped the landlord, Silverstein Properties, in-house alongside CBRE’s Mary Ann Tighe, Stephen B. Siegel and Adam Foster.
MORE LEASES
The Associated Press has finalized its 170k SF lease at 200 Liberty St, and will move in 2017. It’ll be a 20-year lease, and brings the building to 100% occupancy. Savills Studley’s Mitchell Steir, Matthew Barlow and John Mambrino repped the AP, and Brookfield’s Jerry Larkin, David Cheikin and Justin Coulter repped the landlord in-house.
***
Appboy signed a 27k SF lease at 263 West 38th St. LSL Advisors’ Daniel Lolai repped the tenant. Newmark Grubb Knight Frank’s Matthew Mandell repped the landlord.
***
Punch Bowl Social signed a 20k SF lease at 199 Starr St in Bushwick. Cushman & Wakefield’s Jason Greenstone and True North Real Estate’s Dan Nesson repped the tenant.
DeVito/Verdi renewed its 22k spread at 100-104 Fifth Ave. The Kaufman Organization’s Grant Greenspan and Michael Kaufman repped the landlord, Clarion Partners.
***
Net-a-Porter signed a 10,500 SF lease at 100-104 Fifth Ave. Cushman & Wakefield’s Owen Hane repped the tenant. The Kaufman Organization’s Grant Greenspan and Michael Kaufman repped the landlord, Clarion Partners.
***
Arquitectonica signed a 9,500 SF lease at 100-104 Fifth Ave. CBRE’s Michael Berman repped the tenant. The Kaufman Organization’s Grant Greenspan and Michael Kaufman repped the landlord, Clarion Partners.
***
Jewelry design firm Jose & Maria Barrera signed a 6,800 SF lease at 29 West 36th St. EVO Real Estate’s Robert Frischman and Albert Wu repped both sides.
***
SPV, a new space-sharing provider for the psychology profession, signed a 6,800 SF lease at 29 West 36th St. EVO Real Estate’s Robert Frischman and Albert Wu repped the landlord.
EXECS
The Carlton Group has hired Andrew Hoffman to lead asset management for Carlton’s principal transaction group, Carlton Strategic Ventures. Andrew has over 30 years of real estate experience, including over seven years as COO at Ofer Yardeni’s Stonehenge Partners, where he was involved in over $3B of acquisitions and asset management. In addition, he served 18 years as the president of Clarendon Management Corp, an owner-operated management company, where he oversaw an $800M, 2,500-unit multifamily portfolio. He was also the chief development officer on the team that developed the $400M Hard Rock Park Hotel & Resort in Myrtle Beach, SC.
Daniel Rashin will be taking over as co-president and CEO at The Rockefeller Group. Daniel will join Atsushi Nakajima, who’s served as the company’s sole president and CEO since March 2013. The appointment will be effective Jan. 1. Daniel joined the company in 2013 as an SVP for Investments. Since then, he’s assumed additional leadership responsibilities, including head of development in New York and urban development nationally. Prior to joining The Rockefeller Group, Daniel spent over 20 years at Hines Interests.
Bruce Weinberg is joining Colliers International as an executive managing director. Bruce will continue to focus on tenant and landlord rep, supporting the brokerage team led by Tri-State vice chairman Andrew Roos and Tri-State president Michael T. Cohen. Prior to joining Colliers, Weinberg was an executive managing director at DTZ (formerly Cassidy Turley), and before that a managing director at CBRE.
TOP SALES
210 West 70 Owner LLC sold 210 West 70th St to SP 210 W 70 LLC for $133M.
***
Atlas Capital Group sold 311 West 33rd St to 311 West 43rd Venture LLC for $107M.
***
Moluka Enterprises LLC sold 1183 Second Ave to Florida developer Chance Gordy for $64.3M.
***
132-25 Maple Ave Co sold 132-25 Maple Ave in Queens to Treetop Development for $52.9M.
***
Sanford Terrace Associates Co sold 132-57 Sanford Ave in Queens to Flushing West 131 LLC for $32.7M.
***
LM 72 LLC sold 72, 74 and 104 Forsyth St to SAL Forsyth LLC for $24.4M.
***
Spencer Street Realty sold 192 Spencer St in Brooklyn to BSP Spencer LLC for $22.6M.
***
41-40 Denman Street Co sold 41-40 Denman St in Queens to Treetop Development for $22M.
***
50 LLC sold 50 East 86th St to 50 East 86th Street Owner LLC for $20M.
***
Prana Growth Fund I sold 386 East 188th St in the Bronx to 355 East 187th St LLC for $20M.
[Top Sales data courtesy of Reonomy]
TOP FINANCING DEALS
Landesbank Baden-Wurttemburg closed a $1B loan to Paramount Group for 1633 Broadway, aka Paramount Plaza.
***
Bank of America closed a $528M loan to LIC Development Owner for 28-18 Jackson Ave in Queens.
***
The Variable Annuity Life Insurance Co closed a $270M loan to Trinity Centre LLC for 115 Broadway.
***
Bank of China closed on a $197.5M loan to 1-10 Bush Terminal Owner LP for 4023 1st Ave in Brooklyn.
***
The New York State Housing Finance Agency closed on a $158M loan to 210 Livingston St LI LLC for 210 Livingston St in Brooklyn.
[Top Financing Deals data courtesy of Reonomy]
