This Week's NY Deal Sheet
As expected, the shortened week took its toll on the NYC market, although there were some surprises.
TOP LEASES
Fintech firm Arcesium signed a 39k SF lease for the entire eighth floor of Edward Minskoff's 44-story, 1.6M SF 1166 Sixth Ave (pictured). JLL's Paul Glickman and Cynthia Wasserberger repped Minskoff, while CBRE's Timothy Dempsey and Munish Viralam repped Arcesium.
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Snapchat signed a 40k SF lease for the entirety of the former Playboy Club at 5 East 59th St. The pop-up location is the company's first physical store, where it will market its new picture-taking sunglasses. Winick Realty Group’s Darrell Rubens, Lee Block and Kelly Gedinsky repped both the tenant and the landlord.
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Unzipped Apparel Sales signed a 9k SF, five-year renewal for its office and showroom space at Ten Seventy One Associates' 12-story, 180k SF 4 Bryant Park. Adams & Co principal David Levy repped both the tenant and the landlord.
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HSBC signed a 5k SF, 10-year lease for Bonjour Capital’s 62-story 172 Montague St, with both ground floor retail space and below-grade office space. CPEX's Timothy King and Ryan Condren repped Bonjour, while Premiere Properties' Allan Profeta repped HSBC.
TOP SALES
The Levine and Frankel families have sold 817 Broadway (pictured) in Greenwich Village to a partnership of Taconic Investment Partners, TH Real Estate and Squire Investments for $109M. The building was built in 1900 and designed by architect George B. Post, who also designed the New York Stock Exchange.
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Joel Leder has sold the Noonan Plaza Apartments at 105 West 168th St in Highbridge to Joel Gluck’s Spencer Equity for $38M. Gluck was under contract to buy the seven-story, 335k SF property in early October for $42M. The property's Section 8 contract expires next April, although Spencer plans to extend it.
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Hampshire Real Estate Co sold 3250, 3268 and 3276 Westchester Ave in Pelham Bay to The Marcal Group for $33M. Hampshire purchased the properties for $37M in 2007.
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Partridge Realty sold 23-08 Newtown Ave in Astoria to DXK Development for $21M.
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Raphael Toledano’s Brookhill Properties sold 58 St. Mark's Place in the East Village to Renaissance Realty Group, a Midwood-based investment firm led by Adir Cohen, for $12.5M. Renaissance is also acquiring 221 East 10th St for around $10M.
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Marwick Associates sold an office condo at 305 East 47th St in Midtown East to the Permanent Mission of the United Arab Emirates for $12M.
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JLJ Enterprises sold 269 Randolph St in Williamsburg to April Holdings LLC for $12M.
Sales data provided courtesy of Reonomy.
TOP FINANCING DATA
Capital One Multifamily Finance closed on a $239M loan to Fairstead Capital for 60 West 142nd St, 620 and 630 Lenox Ave in Central Harlem.
Massachusetts Mutual Life Insurance Co closed on two loans totaling $157M loan to Edward J. Minskoff Equities for the commercial unit of 270 Greenwich St in Tribeca, above.
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ACORE closed on a $156M loan to RXR Realty for Phase 2 of The Ritz-Carlton Residences, the 244-unit ultra-luxury residential complex in Long Island's North Hills, one of the country's highest per-capita income regions. The loan was secured by Holliday Fenoglio Fowler's Mike Tepedino, Michael Gigliotti and Geoff Goldstein.
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Mortgage Electronic Registration Systems closed on a $122M loan to James Wachala for 1503 Dean St in Crown Heights.
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M&T Bank and Terra Capital Partners closed on a three-year, $70M debt-financing package to Flank to recapitalize the 193-key Hilton Brooklyn at 140 Schermerhorn St in Boerum Hill.
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Deutsche Bank closed on a $66.2M loan to Savanna to refinance a nine-story, 52k SF mixed-use building at 434 Broadway in SoHo. The financing replaced a $45.5M acquisition loan from Mesa West Real Estate.
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TransAmerica Life Insurance Co closed on a $50M loan to Meilman Family Real Estate for 436 West 15th St in Chelsea.
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Black Bear Asset Management and an institutional lender closed on two loans totaling $42M to Greystone Development for Greystone and Prime Rok Real Estate's residential condominium conversion of the landmarked Beaux-Arts building at 164 West 74th St.
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Signature Bank closed on a $26M loan to Joel Gluck’s Spencer Equity for the acquisition of Noonan Plaza Apartments at 105 West 168th St in Highbridge.
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HSBC closed on a $23M loan to Charles H. Greenthal Management Corp for 185 East 85th St on the Upper East Side.
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The Bank of the Ozarks closed on a $20M loan for DDG for 98 Franklin St in Tribeca.
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Wells Fargo closed on a $19M loan to Ranger Properties for 41-07 Crescent St in Long Island City.
Financing data provided courtesy of Reonomy.
