This Week's NY Deal Sheet
Last week saw several big lease deals close, from a hedge fund's new HQ to luxury brand storefronts. Sales and financing deals had a strong showing as well. Here are the week's top deals in each area.
TOP LEASES
Advertising and communications giant Omnicom signed a 15-year renewal of its lease with SL Green for 167k SF at the 37-story, 1.2M SF News Building at 220 East 42nd St. SL Green repped itself, while Lee Feld of Feld Real Estate repped the tenant.
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Iconic New York bagel shop Russ & Daughters has signed a lease for 14k SF at the newly renovated Building 77 of the Brooklyn Navy Yard. The facility will include a food preparation area in addition to a storefront, and will serve as an anchor tenant for the 60k SF ground floor of Building 77.
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Content provider Music Choice renewed its lease with SL Green for 53k SF at the Olivia, a 36-story 493k SF mixed-use at 328 West 43rd St. David Amsterdam of SL Green repped the landlord. CBRE’s Jason Gorman repped the tenant.
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Southern Wine & Spirits, a Miami-based liquor distributor, has signed a seven-year lease with Oriole Realty Corp for 30k SF at 30-30 Review Ave, a warehouse in Long Island City. Asking rents were in the $20 per SF range. Joseph P. Meyerson of Sholom and Zuckerbrot Realty repped the landlord. DY Realty Services’ Paul J. Yuras repped the tenant.
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Hedge fund Hollis Park Partners has signed a lease for 7,600 SF at 579 Fifth Ave, a 150k SF commercial office building. The landlord was repped by Paul Glickman, Diana Biasotti and Benjamin Bass of JLL. Keith Caggiano and Roshan Shah of CBRE repped the tenant.
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Fashion house Badgley Mishka has signed a three-year lease with The Adler Group for 8,200 SF at 550 Seventh Ave. Asking rents were in the $60 per SF range. Kristin Fisher of The Adler Group repped the landlord. Michael Joseph of Colliers International repped the tenant.
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EXEC MOVES
Rose Associates has hired Michael J. Adamo (pictured) as a director in its development division. Michael joins from AvalonBay Communities, where he was a development manager for properties in Long Island.
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ABS has hired Jeff Sharon as its new managing director. Jeff will work with ABS’ partners on tenant representation, and formerly worked at CBRE.
TOP SALES
Forest City Enterprises sold 625 Fulton St (pictured) to Rabsky Group for $158M.
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Invesco purchased a 4,500 SF storefront at 139 Spring St for $115M from SL Green.
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Crescent 4117 Holding LLC sold 41-23 Crescent St for $96M to Crescent Club LLC.
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Xinyuan Real Estate bought 615 10th Ave for $57M from Speedway LLC.
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Stellar Management sold 123 Lafayette St for $33M to First Atlantic Capital.
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Ronel Ben-Dov sold 305 McGuiness Blvd for $31M to 305 McGuiness Investors LLC.
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WMF 322-326 E 82nd LLC sold 324 East 82nd St for $27M to 477 Third LLC.
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Emmut Properties bought 433-440 West 53rd for $25M from All Mobile Video.
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Rosewood Realty Group sold 364 Lincoln Place for $23.5M to 364 Lincoln Place Owner LLC.
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B+B Capital has sold 251 West 14th St for $22M to Pizzarotti IBC.
Sales data courtesy of Reonomy.
TOP FINANCING DEALS
An entity listed in records as 315 West 33 Funding LLC closed on a $325M loan to an entity that appears in records as 33/34 West Owner LLC. SL Green has owned the building since 2013, when it purchased it from Stonehenge Partners.
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Cantor Commercial Real Estate Lending closed on a $130M loan to Cayre Investments for a hotel project at 218 West 35th St.
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German American Capital Corp closed on a $120M loan to Aurora Capital Associates and its partners, A&H Acquisitions and Crown Acquisitions, for 600 Broadway.
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Bank of America closed on a $105M loan to JTRE Holdings for its NoMad Hotel at 1170 Broadway.
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Manufacturers and Traders Trust Co closed on a $95M loan to Zara Realty Holding Corp for 144-06 88th Avenue.
Financing data courtesy of Reonomy.
