This Week's NY Deal Sheet
Saks Off Fifth signed a 10-year, 30k SF lease at Liberty View Industrial Plaza in Sunset Park, adjacent to Industry City.
It’s scheduled to open by summer or fall. Brian Katz of Katz & Associates repped the tenant. CPEX’s Timothy King, Ryan Condren, George Danut and Keat Chew repped the building’s ownership, Salmar Properties. It’s the same building where Bed Bath & Beyond signed a 120k SF lease last year to bring three of its brands: Buy Baby, Cost Plus World Market and Harmon Face Values.
MORE LEASES
Shearman & Sterling signed a 40k SF lease at 850 Third Ave. JLL’s James Quinn and Gary Youm repped the tenant. JLL’s Matthew Astrachan, Mitch Konsker and Matthew Polhemus repped the landlord, Shorenstein Properties.
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Kaplan Fox & Kilsheimer signed a 24k SF lease at 850 Third Ave. CBRE’s Mark Ravesloot reppped the tenant. JLL’s Matthew Astrachan, Mitch Konsker and Matthew Polhemus repped the landlord, Shorenstein Properties.
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TouchTunes Music Corp signed a 23k SF lease at 850 Third Ave. CBRE’s Neil King repped the tenant. JLL’s Matthew Astrachan, Mitch Konsker and Matthew Polhemus repped the landlord, Shorenstein Properties.
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Dropbox signed a 31k SF lease at 50 West 23rd St. Avison Young’s Martin Cottingham, Michael Gottlieb and Anthony LoPresti repped the tenant.
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Aksia LLC signed a 12-year, 18k SF expansion lease at 599 Lexington Ave. CBRE’s Michael Movshovich and Taylor Scheinman repped the tenant. CBRE’s Evan Fiddle, Christie Harle, Caroline Merck, Arkady Smolyansky and Peter Turchin repped the landlord.
Volant Trading signed a 13k SF lease at 4 World Financial Center. CBRE’s Rob Wizenberg repped the tenant. The landlord, Brookfield Properties, was repped in-house by David Cheikin and Justin Coulter, alongside JLL’s Michael Berman.
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CAA Sports signed a 9,700 SF lease at 470 Park Ave. CBRE’s Rocco Laginestra repped the tenant. Newmark Grubb Knight Frank’s Allen Gurevich repped the landlord.
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Stradley Ronon Stevens & Young signed a 10-year, 9,600 SF lease at 100 Park Ave. Cushman & Wakefield’s Remy Liebersohn repped the tenant. Cushman & Wakefield’s Tara Stacom, Barry Zeller, Justin Royce, Connor Daugstrup and Matthias Li repped the landlord.
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StubHub signed a 6,400 SF lease at 1412 Broadway. CBRE’s Michael Kadosh, Jesse Wolff and Jeff Black repped the tenant.
EXECS
L&L Holding Co has promoted Josh Carson to SVP and Jim Traynor to assistant VP. Josh will be responsible for sourcing and closing new transactions for the NYC office portfolio. He’ll also serve as project director for L&L’s ground-up office building at 425 Park Ave. Josh joined L&L in 2010 and has worked on over $2B in transactions since then. Jim will focus on sourcing, evaluating and acquiring new assets for L&L’s New York City portfolio, as well as raising capital, negotiating JVs and completing recapitalizations.
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Herrick Feinstein has named Michael Smith a partner in its real estate department. Michael’s practice has a focus on development projects across the city. He also reps lenders and investors on construction and capital improvement loans. The promotion took effect Jan. 1.
TOP SALES
Related Cos and TIAA-CREF closed on the sale of the top 13 floors of 1 MIMA Tower to Kuaku Properties for $260.8M.
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19 Red LLC sold 19 Kent Ave in Brooklyn to 19 Kent Acquisition LLC for $132.4M.
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JP Morgan Chase Bank sold 9 DeKalb Ave in Brooklyn to 9 DeKalb Owner LLC for $90M.
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752 UWS LLC sold 752 West End Ave to 752 WEA One LLC for $78.5M.
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42-50-24th Street Realty Corp sold 23-11 43rd Ave in Queens to QPT 24TH Street Development LLC for $69M.
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103 E. 125TH St Realty Corp sold 1825 Park Ave to 1825 Park Avenue Property Investors III for $48M.
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22 West 38th Street Associates sold 22 West 38th St to DK 38th Street LLC for $43.5M.
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North Fork Bank sold 356 Fulton St in Brooklyn to FEIL - BLS LLC for $43M.
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The P. Smith Realty Limited Partnership sold 628 West 47nd St to 624 West 47th Street LLC for $36.5M.
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261 West 34th Street LLC sold 261 West 34st St to Cornell West 34 Owner LLC for $31.7M.
[Top sales data courtesy of Reonomy]
TOP FINANCING DEALS
Bank of America closed on a $375M loan to 888 Seventh Avenue LLC for 888 Seventh Ave.
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Strategic Asset Services closed on a $315M loan to Hotel 57 LLC for 57 East 57th St.
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Industrial and Commercial Bank of China closed on a $211.6M loan to Kuafu Properties for 442 West 42nd St.
New York State Housing Finance Agency closed on a $180M loan to Two Trees Management for 325 Kent Ave in Brooklyn.
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Wells Fargo closed on a $121.8M loan to New York City Industrial Development Agency for 401 Ninth Ave.
[Top financing deals data courtesy of Reonomy]
