This Week’s NY Deal Sheet
The market hit a late August lull last week, with only financing deals remaining strong. Let's just hope it was due to the big guys taking their vacations.
TOP LEASES
Kroll Bond Rating Agency signed an 11k SF, six-year lease on the eighth floor of Rudin Management Co’s 360k SF 845 Third Ave, expanding its footprint to more than 35k SF. VP Robert Steinman repped Rudin in-house while Kroll was repped by Savills Studley's David Carlos. The 21-story tower is now fully leased.
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Choice New York Management has signed a 5,240 SF, six-year lease for the full sixth floor of Brause Realty’s 75k SF 254 West 31st St, now fully occupied. The property management company—which is relocating its HQ from its 2k SF spot on 220 Fifth Ave's 15th floor—was repped by Vicus Partners' Jane Brody. Brause recently renovated the building's lobby and upgraded the façade and was repped by Ornstein and Transwestern’s Alessio Tropeano and Carolyn Zimmer.
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Iconic hot dog chain Gray's Papaya has signed a 1,300 SF, 20-year lease at Hata Realty Co’s 612 Eighth Ave. Independent broker Thomas Lee repped both Gray's owner Rachel Gray and the NJ-based Hata Realty, which bought the 1925 three-story building in 1984 for $1.1M. Gray's two other locations closed in 2011 and 2014 due to rising rents.
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Ronald Jonas Interiors signed an early renewal for its 23k SF office at 44 West 18th St, taking up both the 17k SF 10th floor and a 6k SF portion of the seventh floor. The furniture designer, which designed furniture for the Oval Office and celebrities like Oprah Winfrey, Tom Cruise, Tom Hanks and Charlize Theron, also has a showroom at the property. Adams & Co’s James Buslik and Alan Bonett repped the landlord and the tenant.
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Compensation Advisory Partners has signed a 9k SF, seven-year lease for the 14th floor of the Durst Organization's 1133 Avenue of the Americas. Originally in 6k SF on the building's 36th floor, the consulting firm was repped by Vicus Partners' Bertram Rosenblatt, Leo Russell and Jack Sheresky. Durst’s Rocco Romeo repped the landlord in-house.
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Brooklyn Spirits, an alcohol bottling and warehousing company, has signed a 3,300 SF lease at 1829 Pacific St in Crown Heights. The company is best known for its craft vodka brand, Brooklyn Republic. Kalmon Dolgin Affiliates' Grant Dolgin repped the tenant; his colleague Jeffrey Unger repped the owner, Atlantic Properties.
TOP SALES
JK Equities sold 35-24 Farrington St in Queens, otherwise known as the RKO Keith's Theater, to Beijing-based XIN Development International, the American investment arm of Chinese Xinyuan Real Estate, for $66M in an all-cash transaction. Xinyuan plan to tear down the theater and build a 269-unit condo development. JK purchased the theater, which opened in 1928 and saw the likes of Bob Hope, Jack Benny, the Marx Brothers, Judy Garland, Mae West and Jerry Lewis, in 2013 for about $30M.
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The Pomerac Group sold 37-10 114th St in Queens—the 118k SF, eight-story, 214-key Holiday Inn LaGuardia Airport—to Sam Chang's McSam Group for $37.6M.
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Unity Associates sold 260 Buffalo Ave and 1545 Saint Johns Place to St. Johns Flats LLC for $21M.
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An entity known as 15 Christopher St LLC sold 15 Christopher St in Manhattan to an entity known as Six Avenue Chelsea for $12.5M.
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Marin Management sold 225 East 82nd St in Manhattan to FNV Realty LLC for $11.9M.
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AEG17 LLC sold 546 Isham St in Manhattan to Sugar Hill Realty Holdings LLC for $9.4M.
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343 E. 65TH St LLC sold 343 East 65th St in Manhattan to NSD 343 LLC for $8.25M.
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Icon Management Group sold 5700 Avenue D in Brooklyn to 595-665 East 56TH II LLC for $7.75M.
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Oksana Lew sold 203 Bedford Ave in Brooklyn to A&H Acquisitions for $7.2M.
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Henry Kessler sold 499 East 163rd St in the Bronx to Yahoo Bronx LLC for $7.2M.
Sales data provided courtesy of Reonomy.
TOP FINANCING DEALS
Capital One closed on an $80M loan to Stellar Management for 70 West 93rd St in Manhattan.
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Norwegian firm Agasti Holding closed on a $70.1M loan to The Blackstone Group for 44 Wall St in the Financial District.
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Signature Bank closed on a $31M loan to Dalan Management for 300 East 46th St in Manhattan.
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Wells Fargo closed on a $30M loan to Brookfield Properties for 450 West 33rd St's air rights in Manhattan.
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M&T Bank closed on a $29.4M loan to C.A. White for 18 West 18th St in Manhattan.
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M&T Bank closed on a $27.5M loan to BLDG Management for 45-12 Greenpoint Ave in Queens.
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M&T Bank closed on a $25.5M loan to 3536 Associates LLC for 35 West 36th St in Manhattan.
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Maxim Credit Group closed on a $21M loan to Sam Chang's McSam Hotel Group for 37-10 114th St in Queens.
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JPMorgan closed on a $12M loan to 4401 21St Street LLC for 44-01 21st St in Queens.
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BankUnited closed on an $11.5M loan to Skillman Suites LLC for 85 Skillman St in Brooklyn.
Financing data provided courtesy of Reonomy.
