This Week's NY Deal Sheet
Leases and sales were a little light this week as we hit the midway point of Q2, with no leases signed bigger than 100k SF and no sales over $50M. Financing led the pack, with several loans secured over $150M. Here are the week's top deals in leases, sales and financing.
TOP LEASES
The Brooklyn Brewery signed a 40-year deal for 75k SF at the Brooklyn Navy Yard’s Building 77, finally pulling the trigger on a deal that’d been hinted at for several months. The asking rent in the deal was not immediately clear; neither were the brokers involved.
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Consumer research firm Nielsen Holdings signed a 16-year deal for 44k SF at 675 Avenue of the Americas. Asking rent was in the high $60/SF range. NGKF’s Paul Ippolito and Seth Weinstein repped the tenant, while Cushman & Wakefield’s Ross Eisenberg, Stuart Romanoff, Lou D’Avanzo, Franklin Speyer and Amy Fox repped the landlord, 675 Ownership LLC.
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Interior design firm Homepolish signed a 10-year deal for 11k SF at MJ Orbach Associate’s 27 West 24th St. Asking rent was in the high $60/SF range. Skylight Leasing’s Elie Reiss repped the tenant, while the Kaufman Organization’s Ian Norris, Grant Greenspan and Aron Orbach repped the landlord.
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AwesomenessTV, a subsidiary of Dreamworks Animation, signed a seven-year deal for 13k SF at HSR Corp’s 386 Park Ave South. Asking rent was $75/SF. JLL’s Steven Rotter and Justin Haber repped the tenant, while HSR’s David Falk, Eric Cagner, Jonathan Franzel and Alex Leopold repped the landlord in-house.
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Law firm Gallo Vitucci Klar signed a 10-year lease for 12k SF at Princeton International’s 90 Broad St, paring down its footprint in the building from 19k SF. The firm plans to move some of its offices to Long Island. Asking rent was $48/SF. Savills Studley’s Marc Shapes, Roi Shleifer and Oliver Petrovic repped the tenant, while JLL’s Scott Cahaly repped the landlord.
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Health foods grocer Union Market inked a deal for 11k SF at the base of Adam America Real Estate’s planned residential development at 1525 Bedford Ave, which opens in 2018. Asking rent in the property’s retail section ranges from $75/SF to $125/SF. ABS Real Estate’s Mark Tergesen and Ben Waller repped both parties.
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Marketing intelligence firm Datorama has signed a seven-year deal for 12k SF at 43 West 23rd St, better known as the Castro Building. The deal means the Castro Building is now fully leased. The asking rent was not immediately available. NGKF’s John Moran and Evan Foley repped the tenant, while C&W’s Robert Billingsley and Bryan Boisi repped the landlord.
TOP SALES
L+M Development Partners purchased a 79-unit rental building at 342 East 8th St in the East Village for $44M, from BFC Partners.
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An entity listed as West 10th Townhouse LLC purchased 21 West 10th St for $31M from an entity listed as 21 West 10th LLC.
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An entity listed as HOC Williamsburg LLC purchased 286 North 8th St for $21M, from an entity listed as 288 North 8th St LLC.
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Textiles firm Pem-America purchased two commercial condos at 70 West 36th St for $19M, from Times Equities.
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The Gindi family purchased a commercial condo at 66 Pearl St in the Flatiron District for $19M, from Northwind Group.
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A partnership headed up by Hyon Paek and Choon Taik Lim purchased the 66-key Anchor Inn hotel at 215-34 Northern Blvd for $14M from Northern Motor Inn Inc.
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HP MJM Housing Development Fund Co purchased a seven-parcel portfolio from the Church of God of East Flatbush for $13M. The portfolio includes 94 New Lots Ave, 94 New Lots Ave, 656-660 Powell St, 283 Hegeman Ave and 68 New Lots Ave.
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An entity listed as Lemon Tree Plaza LLC purchased the building at 157-16 Northern Blvd for $12M from Kevin Realty.
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An entity listed as 2401 Davidson Associates purchased the building at 2401 Davidson Ave in Queens for $11.5M from BSP Davidson.
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An entity listed as Sterling Portfolio 189 LP purchased the 24-unit rental building at 189 Sterling Place in Prospect Heights for $11M, from Robert and Jerome Kessler.
Sales data courtesy of Reonomy.
TOP FINANCING DEALS
The Paramount Group secured a $500M loan from Metropolitan Life Insurance to refinance its 29-story office tower at 31 West 52nd St.
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RXR Realty secured a $240M loan from the Bank of China and $50M in mezzanine funding from SL Green Realty for its office tower at 61 Broadway.
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Three LLCs associated with Glenwood Management received mortgages totaling $194M for three luxury condo buildings. Glenwood secured $105M for the Fairmont, at 300 East 75th St, $49M for The Stratford at 1385 York Ave and $41M for The Andover at 1675 York Ave.
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An entity listed as Tribeca Ascott LLC secured a $96M loan from Oversea-Chinese Banking Corp Ltd for its property at 350 Canal St.
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Himmel + Meringoff secured a $65M loan from Signature Bank for the office building at 6 East 32nd St.
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An entity listed as MB 276 LLC secured a $55M loan from Safra National Bank of New York for the building at 276 5th Ave.
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An entity listed as 79th Street Realty secured a $47M loan from Prudential Insurance for the building at 322 East 79th St.
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An entity listed as 810-VE Laight secured a $46M loan from RCG LV Debt V REIT LP for the building at 322 East 79th St.
Financing data courtesy of Reonomy.
