This Week's NY Deal Sheet
Deals were mostly in the midsized to small range this week, other than New York Life Insurance Co's renewal and expansion to 115k SF at the Graybar Building and the $135M loan Meadow Partners secured for its 866 United Nations Plaza, newly converted to condos. Here are the week's top deals in leases, sales and financing.
TOP LEASES
New York Life Insurance Co has signed a 10-year renewal and expansion for a total of 115k SF HQ at SL Green Realty’s 420 Lexington Ave, better known as the Graybar Building. The firm previously leased about 88k SF there. Asking rent was $65/SF. JLL’s Paul Glickman and Matthew Astrachan repped the tenant, while SL Green’s David Kaufman repped the landlord in-house.
***
The Brennan Center for Justice has signed a 15-year deal for 26k SF at Silverstein Properties’ 120 Broadway, better known as the Equitable Building. Asking rent in the deal was in the mid-$50/SF range. CBRE’s Stephen Eynon repped the tenant, while Silverstein’s Joseph Artusa, Camille McGratty and Roger Silverstein repped the landlord in-house. The building was built in 1915, not to be confused with The Equitable Building at 1285 Avenue of the Americas, which traded to RXR and David Werner last month for $1.65B.
***
Cost-conscious gym Blink Fitness has signed a 15-year deal for 17k SF at Midwood Investment & Development’s 282 South 5th St. The asking rent was not immediately clear. Retail Zone’s Ezra Staff repped both sides.
***
Ameriprise Financial has inked a deal for 38k SF at 1 World Trade Center, after declining to renew its previous lease at 7 World Trade. The term is for over 10 years, and asking rent was not clear but other recent deals in the building have averaged roughly $70/SF. Cushman & Wakefield’s Josh Kuriloff, Drew Braver and Frank Cento repped the tenant, while the Durst Organization’s Karen Kuznick and C&W's Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas repped the landlord, a partnership between Durst and the Port Authority.
***
Two new tenants have signed leases for a total of 8k SF at 130 West 29th St. Cooking class provider My Cooking Party and music production firm Pulse Music took 4k SF each in 10-year deals at the building, which is owned by a group of investors led by Marty and Eric Meyer of Colliers International. Asking rent in both deals was in the mid-$50/SF range. C&W’s Brian Weld and Matt Etlinger repped Pulse, My Cooking Party did not have a broker, and the Meyers repped the landlord.
***
The Dime Savings Bank of Williamsburg has signed a 10-year deal for 42k SF at Forest City Ratner Cos’ 1 Pierrepont Plaza. Asking rent was $50/SF. M.C. O’Brien’s William O’Brien and Commercial Realty Services of Long Island’s Jack Britvan repped the tenant. CBRE’s Mary Ann Tighe, Keith Caggiano, Howard Fiddle, Evan Fiddle, Dave Caperna and Evan Haskell repped the landlord, along with Forest City’s Ali Esmaeilzadeh and Jesse Cooperman.
***
A software firm and a real estate outfit have signed leases totaling 17k SF at The Feil Organization’s 853 Broadway. Brack Capital Group took roughly 9k SF, while Media iQ Digital took about 8k SF. Asking rent at the building is $89/SF. Colliers International’s Jonathan Plotkin repped Brack, while C&W’s Frank Coco, Owen Hane and Alex Shames repped Media iQ. Feil’s Robert Fisher, Brian Plumb and Michele Frankel repped the landlord in-house.
***
Software consulting firm Microdesk has signed a 10-year deal for 10k SF at the Haymes Investment Co’s 5 Penn Plaza. Asking rent was $65/SF. Hanley Advisors’ James Seo and McCall & Almy’s John Dolan repped the tenant, while CBRE’s Peter Turchin, Jason Pollen and Dave Caperna repped the landlord.
TOP SALES
RedSky Capital has purchased 190 Bedford Ave for $13M, from Lan Lin Kwok. The purchase is part of an assemblage RedSky has been building for roughly two years.
***
An entity listed as Sherman 29 LLC has purchased 47 Sickles St in Hudson Heights for $11.5M, from an entity listed as Sherman25 LLC.
***
Landlord Ramesh Vig has purchased the development site at 39-11 Queens Blvd for $10.5M from Kahen Properties. The recently demolished site once held a row of six retail shops built by Kahen in the '90s.
***
An entity listed as 276 Nostrand Ave LLC has purchased 276-278 Nostrand Ave for $7.5M, from the IM Foundation. The buildings are across the street from a planned 241-unit rental development.
***
An entity listed as 285 6th Realty LP has purchased the multifamily building at 285 6th Ave for nearly $6M, from a trustee listed as Carmen Simon.
***
An entity listed as CXG Realty has purchased 31-39 College Point Blvd in Queens for roughly $4M from an entity listed as MS College Point BLVD Inc.
***
Christopher Wolfe has purchased 587 4th St in Brooklyn for $3.5M, from Robert Prince.
***
An entity listed as W 114-17 LLC has purchased 114-17 Rockaway Beach Blvd for $3.5M from an entity listed as Solid Rock Park LLC. Last year, the Laquila Group filed plans to build two three-story, mixed-use buildings on an adjacent site.
***
An entity listed as 106 Huron Street LLC has purchased 106 Huron St for $2.3M from an entity listed as 106 Huron LLC.
***
Allison Barrie Galker has purchased 336 16th St in Brooklyn from Kyra Aronson for roughly $2M.
TOP FINANCING DEALS
Meadow Partners has secured a $135M loan from an entity listed as CMTG Lender 1 LLC for its 866 United Nations Plaza, where Meadow converted apartments and office space to condos last year.
***
Adam America has secured a $38M loan for its development at 1527 Bedford Ave from Santander Bank. Last year Adam filed plans for an eight-story, 133-unit mixed-use building on the site.
***
An entity listed as RS JV 192 Bedford Ave LLC has secured a $28M loan for the site at 206 Bedford Ave from AB Commercial Real Estate Debt.
***
An entity listed as 351-357 West 45 LLC has secured a $16.5M loan for the office building at 357 West 45th St from New York Community Bank.
***
An entity listed as Van Wyck Properties has secured a roughly $6.5M loan for the property at 248 East 28th St from Capital One.
***
Keap Lofts LLC has secured a nearly $5M loan for the residential building at 471 Keap St in Brooklyn from Santander Bank.
***
Blake Holdings LLC has secured a nearly $5M loan for 1000 Blake Ave from Banco Popular North America. The building currently houses a homeless shelter.
***
An entity listed as 1882 Third LLC has secured a $4.5M loan for the property at 1882 3rd Ave from Ridgewood Savings Bank.
***
An entity listed as Hurston Place Equities has secured a $4.5M loan for the property at 272 West 154th St from Prudential Multifamily Mortgage.
***
An entity listed as East 21 Retail LLC has secured a roughly $3.5M loan for the property at 346 East 21st St from Wells Fargo.
