This Week's NY Deal Sheet
There was strong leasing activity this week in the 15k SF to 50k SF range, with a big lease by Merrill Lynch Wealth Management for 125k SF at Rockefeller Plaza leading the pack. Sales were soft, but loan activity was strong. Here's a look at the week's top deals in leases, sales and financing.
TOP LEASES
Merill Lynch Wealth Management has signed a lease for 125k SF at 75 Rockefeller Plaza, which is just wrapping up a massive renovation. Asking rent was $81/SF. CBRE’s Robert Alexander, Ryan Alexander, Ramneek Rikhy and Emily Jones repped the tenant, while Cushma & Wakefield’s Bruce Mosler, Tara Stacom and Mikael Nahmias repped the landlord, RXR Realty, which has a 99-year ground lease with the owner, British billionaire Mohamed Al Fayed.
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Coding and software development school Galvanize has inked a deal for 55k SF at Jack Resnick & Sons’ 315 Hudson St, which is undergoing a $65M renovation. Asking rent at the building ranges from $55/SF to $75/SF. It was not immediately clear who the brokers involved in the deal were.
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Paradigm Talent Agency has signed a 10-year deal for 51k SF at Union Investment’s 140 Broadway. Asking rent was $65/SF. CBRE’s Sacha Zarba and Ramsey Feher repped the tenant, while C&W’s Robert Constable, Myles Fennon and Louis D’Avanzo repped the landlord.
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Women’s brand Altuzarra has signed a deal for 12k SF at 233 Broadway, better known as the Woolworth Building. Asking rent was $59/SF. Savills Studley’s Jeffrey Peck, Daniel Horowitz and Christopher Foerch repped the tenant, while The Lawrence Group’s Thomas Hettler repped the landlord, a partnership between the Witkoff Group and other investors.
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A PR firm and a software developer have both signed leases totaling 19k SF at Deka Immobilien’s 9 West 44th St. Kaplow Communications took 13k SF at the building, while AFS Technologies renewed its 6k SF lease for three years. Asking rents in the building range from $55/SF to $65/SF. Colliers International’s Robert Goodman repped Kaplow, while Lee & Associates’ R. Craig Coppola repped AFS. JLL’s Barbara Winter and William Korchak repped the landlord in both deals.
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Healthcare provider Premier Home Health Care Services has signed an early renewal for its 18k SF lease at Cammeby’s International’s 42 Broadway. Asking rent was $42/SF. CBRE’s Ariel Ball, William Cuddy Jr., Michael Geoghegan, Sam Spillane and Bruce Surry repped the tenant, while The Lawrence Group’s Tom Hettler repped the landlord.
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Background check firm BeenVerified has signed a deal for 12k SF at Bonafide Estate’s 48 West 38th St. Asking rent was $52/SF. CBRE’s Jared Freede and Michael Hirsch repped the tenant, while Bonafide’s Alan Locker repped the landlord in-house.
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Private Equity firm Tailwind Capital has signed an early renewal of its 14k SF lease at SL Green Realty’s 485 Lexington Ave. Asking rent in the five-year deal was not immediately clear. CBRE’s Evan Fiddle, Ben Friedland and Michael Movshovich repped the tenant, while Natasha Brown and David Kaufman repped the landlord in-house.
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Law firm Fried, Frank, Harris, Shriver & Jacobson has signed a 10-year renewal of its 12k SF lease at RFR Realty’s 375 Park Ave, better known as the Seagram Building. Asking rents in the building range from $170/SF to $180/SF. The law firm’s Jonathan Mechanic and Meyer Last repped the tenant in-house, while JLL’s Matthew Astrachan repped the landlord.
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An intergovernmental agency and a litigation support firm have signed leases totaling 35k SF at TIAA-CREF’s 685 Third Ave. Commonwealth Secretariat signed a 15-year deal for 27k SF at $60/SF, while New Oak signed a 10-year deal for 18k SF at $77/SF. C&W’s Michael Burgio and Daniel Organ repped Commonwealth, while NGKF’s Larry Zuckerman and Dan Gronich repped New Oak. JLL’s Matt Astrachan, Frank Doyle, Clark Finney, Jonathan Fanuzzi and Daniel Santagata repped the landlord.
TOP SALES
Citigroup has closed on its $2B repurchase of its headquarters complex, at 388-390 Greenwich St, from SL Green and Ivanhoé Cambridge. Citigroup sold the the building in 2006 and acquired the option to buy it back as part of its $1B lease renewal in 2013.
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An entity listed as Kenmare and Mulberry Associates LLC has purchased the three-level garage at 200 Mulberry St for $55M, from Sentry Operating Corp.
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Kaufman Astoria Studios has purchased three adjacent lots at 35-50 38th St, 35-01 37th St and 35-30 38th St in Queens for $45M, from an entity listed as FC Steinway Street Associates II. Kaufman also filed plans last week to build two new soundstages at its existing lot.
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An entity listed as 3220 Henry Hudson Parkway LLC has purchased 3220 Henry Hudson Parkway East for $20M from an entity listed as MSO Holdings LLC. An entity listed as SB Union Square LLC has purchased the condo building at 15 Union Square West for $12M from Mohamad Pasha Bahadori.
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Eric Adjmi of the Adjmi Apparel Group has purchased the townhouse at 161 East 63 St from Town Residential co-founder and CEO Andrew Heiberger for $12M.
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An entity listed as Rebus Realty LLC has purchased 198 West 10th St for $8M from an entity listed as PPNY 26 LLC.
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Abigail Kazam has purchased unit 6S7C of the condos at 1200 5th Ave for $7M from an entity listed as 1200 Fifth Associates LLC.
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An entity listed as 36 Commerce St LLC has purchased 36 Commerce St for $7M from Frances Beltrami.
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Ivan Ortiz has purchased unit 47D of 1 Central Park South for $7M from the Yu-Fan C. Kao Revocable Trust.
TOP FINANCING DEALS
Vornado has secured a $300M loan from MetLife to refinance the office building at 7 West 34th St. Vornado also recently sold a 47% stake in the property to Korean sovereign wealth fund Korea Post.
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Alchemy Properties has secured a $220M loan for the office tower at 233 Broadway, better known as the Woolworth Building, from United Overseas Bank.
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An entity listed as MG Hotel SPE LLC has secured a $120M loan for the 357-key Residence Inn hotel at 1033 Avenue of the Americas.
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An entity listed as HP Lafayette Boynton Housing Development Fund Comp has secured a $91.5M loan for 875 Boynton Ave in the Bronx from Citibank.
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The Fortis Property Group has secured two loans totaling $90M for a planned condo tower at 161 Maiden Lane from Bank Leumi.
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An entity listed as Granite Park LLC has secured a $71M loan for the hotel at 114 West 40th St in Times Square from Bank Hapoalim BM. Back in January, a $70M CMBS-backed loan on the property was returned to the special servicer, with the borrower seeking a loan modification.
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An entity listed as Redsky JZ Roebling LLC has secured a $45.5M loan for the property at 143 Roebling St from Acrefi Holdings J-I Holdings LLC.
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An entity listed as Kenmare And Mulberry Associates LLC has secured a $26M loan for 200 Mulberry St from Deutsche Bank.
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An entity listed as SoHo Broome Condos LLC has secured a $25M loan for 572 Broome St from Bank Leumi.
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An entity listed as Jamaica Tower LLC has secured a $16M loan for 163-27 Archer Ave from Archer Latimer 1 LLC.
