This Week's N.Y. Deal Sheet
WeWork, Spaces and Knotel dominated the leasing scene once again last week, with all three flexible workspace providers locking down new locations in the city. Meanwhile, a Lower Manhattan hotel sold and the developers of a planned luxury condominium tower in NoMad scored financing.
TOP LEASES
WeWork signed up for 117K SF at 575 Lexington Ave., taking space across five separate floors. The building is owned by Angelo Gordon & Co., Normandy Real Estate Partners and George Comfort & Sons. Last week, it signed two separate deals for its HQ by WeWork arm. At 130 Madison Ave., it inked a deal for 16K SF across the second through sixth floors. It also took 14K SF at 483 Broadway on the second and third floors.
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The London Stock Exchange is taking 75K SF at 28 Liberty St. The deal means the LSEG is moving from multiple locations to consolidate on the 57th and 58th floors of the building, according to a release. Landlord Fosun’s Thomas Costanzo and Isabella Chen represented the landlord in the deal, along with JLL’s Peter Riguardi, Mitch Konsker, John Wheeler, Michael Berman, Daniel Turkewitz and Eliza Akers. CBRE’s Robert Stillman, Harly Stevens and Ariel Ball represented the tenant.
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Knotel has signed a lease for nearly 29K SF at CIM Group’s 5 Hanover Square. That lease will span the 17th and 18th floors of the 338K SF building. Skylight Leasing’s Elie Reiss represented Knotel, while CBRE’s Michael Rizzo, Adam Leshowitz and Robert Wizenberg represented the landlord.
The flexible workspace provider also signed up for 12K SF at 80-90 Eighth Ave., on the fifth floor of the building owned by Newmark Family Properties. Michael Morris and Greg DiGioia of Newmark Knight Frank represented Knotel and Morgan Feldman and Scott Brown, also of Newmark, represented the landlord.
At 155 Fifth Ave., known as the Scribner Building, Knotel took 10K SF on the fourth and fifth floors. Skylight Leasing’s Elie Reiss represented Knotel, while CBRE’s Michael Liss and Samuel Spillane represented the landlord.
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The International Council of Shopping Centers is taking 44K SF across the 45th floor at 1251 Sixth Ave., Commercial Observer reports. The building is owned by Mitsui Fudosan, and the deal means ICSC is leaving Rockefeller Group’s 1221 Sixth Ave. David Falk, Peter Shimkin, Nick Berger and Eric Cagner of Newmark Knight Frank represented the landlord. Chris Kraus and Daoud Awad of JLL brokered the deal on behalf of ICSC.
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Spaces is continuing its leasing tear through the city, taking 33K SF at 413 West 14th St., owned by Rockpoint Group, JLL announced last week. The deal is for 15 years and will see Spaces taking the entire second floor in the 255K SF building. JLL’s Jim Wenk and Kirill Azovtsev represented Spaces. CBRE’s Paul Amrich, Neil King and James Ackerson represented the landlord.
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AdMarketplace is taking 22K SF at 1385 Broadway, The Real Deal reports, in a sublease deal with software company Diligent. The search-engine marketing company was represented by JLL’s Michael Pallas, Jim Wenk and Kirill Azovtsev. Diligent — represented by Michael Baraldi and Louis D’Avanzo in the sublease — is moving to 11 West 33rd St.
TOP SALES
Urban Commons, a Los Angeles-based company, paid $147.3M to Millennium Partners and Westbrook Partners for the hotel part of the Wagner on West Street. The hotel, at 2-10 West St., has 298 rooms across 12 floors, The Real Deal reports.
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Prana Investments paid $65M to the Morgan Group for eight multifamily properties in the Bronx, The Real Deal reports. The properties include 1562 and 1580 Thieriot Ave. in the Van Nest area, 3115 Sedgwick Ave. in Bedford Park, 1236 Grand Concourse in Claremont, 218 Echo Place in Mount Hope, 711 East 231st St. in Wakefield, 3050 Perry Ave. in Norwood and 2511 Frisby Ave. in Parkchester.
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Chinese investors Lee Pan Realty and MJ Group Holdings LLC, managed by Jie Wang, bought a six-story property at 116 Mott St. on the Lower East Side for $23M, The Real Deal reports. Every September, a 60-foot-long American flag is hung from the building to commemorate the 9/11 attacks.
TOP FINANCING DEALS
Sumitomo Mitsui Trust Bank is providing $202.5M to the Rockefeller Group for the condominium tower it wants to build on East 29th Street. The mortgage, which is for 30-32, 34 and 36 East 29th St., The Real Deal reports, comes in the form of a $153M building loan and a $33M project loan. Rockefeller is joining with Mitsubishi Estate Co. to build a 123-unit building on the site.
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Westbrook Real Estate Fund loaned $96M to Urban Commons for its purchase of the hotel part of the building at 2-10 West St., Commercial Observer reports. The lender was also the seller in the deal, alongside Millennium Partners.
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Dalan Management and Elion Partners scored a $55M acquisition loan from M&T Bank to buy an assemblage at 102-116 Eighth Ave., The Real Deal reports. The buildings include 102 apartments and 10 retail spaces across 115K SF, and the joint venture acquired from the Brodsky Organization for $83M. HKS Real Estate Advisor’s Ayush Kapahi negotiated the financing.
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Naftali Credit Partners, the lending arm of developer Naftali Group, provided $50M mezzanine loan to Pierre Bastid and the Grid Group, previously known as Einhorn Development, for 145 Central Park North. Grid is developing a 13-story, 37-unit condominium tower. It is the first loan provided by Naftali’s debt platform, the group said in a release, and the company brought in Israel Discount Bank as the financing partner on the senior portion of the loan.
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Bank Leumi provided $45M to Joy Construction and Maddd Equities for the refinancing of their Hudson Yards rental building on 445 West 35th St., The Real Deal reports. The financing comes in the form of a bridge loan, and the building contains 118 units and 5K SF of retail space that is rented to a restaurant.
UPDATE OCT. 10, 3:15: This story has been updated to reflect the broker on Dalan Management and Elion Partners' $55M acquisition loan from M&T Bank for 102-116 Eighth Ave.
