This Week's NYC Deal Sheet
TOP LEASES
Cosmetics firm Elizabeth Arden is downsizing its space at 200 Park Ave South, signing a deal to reduce its footprint by 18k SF, to 36k SF when its lease expires next year. Asking rents range from $75/SF to $85/SF in the building, owned by 200 Park South Associates. ABS Partners Real Estate’s Alan Friedman and Charles Conwell repped the landlord; it was not clear who repped the tenant.
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Investment bank and asset manager BTG Pactual has signed an 11-year renewal for 31k SF at Boston Properties’ 601 Lexington Ave. The asking rent was not immediately clear. NGKF’s Brian Goldman and Josh Friedman repped the tenant, while an unidentified broker from Boston Properties repped the landlord in-house.
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Dallas-based law practice Brewer, Attorneys & Counselors has signed a five-year deal for 13k SF at Cohen Brothers Realty’s 750 Lexington Ave. Asking rent was $75/SF. The company had been subleasing space in the same building from another law firm since 2008. C&W’s Sam Clark repped the tenant, and it was not immediately clear who repped the landlord.
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Nonprofit consulting firm Community Counseling Service has signed a 12-year deal for 12,500 SF at Mitsui Fudosan America’s 527 Madison Ave. Asking rent was in the low $70/SF range. Savills Studley’s Patrick Gardner and Howard Poretsky repped the tenant, while C&W’s James Frederick repped the landlord.
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Snowboarding firm Burton has signed a 10-year deal for 6,500 SF at 69-73 Greene Street Owner LLC’s 69 Greene St, even as the market for retail tenants in Soho has slackened recently. The asking rent was not available. JLL’s Robert Gibson and David Berke repped the tenant, while Sinvin Real Estate’s Christopher Owles and Sarah Shannon repped the landlord.
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Financial research firm Third Bridge has signed a seven-year deal for 25k SF at Callahan Capital Partners’ 1411 Broadway. Asking rent was $78/SF. Savills Studley’s Evan Margolin and Lance Leighton repped the tenant, while CBRE’s Neil King repped the landlord.
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Investment firm HT Capital Advisors has signed a five-year deal to renew its 4k SF at the William Kaufman Organization’s 437 Madison Ave. Asking rents at the building range from $80/SF to $100/SF. Michael Lenchner of Sage Realty—the Kaufman Org’s leasing arm—repped the landlord in-house, along with JLL’s Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster. The tenant did not have a broker.
TOP SALES
An entity listed as 525 Park PH LLC has purchased unit 15S at 525 Park Ave from the Corrington Corp for $21M.
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An entity listed as Baccarat 42A Owner LLC has purchased unit 42A at Baccarat Hotel & Residences’ 20 West 53rd St for $18.5M.
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Sterling Equities has purchased 1059 Union St, a five-story mixed-use building in Crown Heights, from an entity listed as 829-835 Franklin Avenue Residences LLC for $18M. BCB Management sold the building to the entity last year for $13M, after tenants alleged BCB was illegally converting apartments and improperly evicting residents.
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Lido Realty has purchased the 20k SF mixed-use property at 1623 Kings Highway from New York REIT for $17M.
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Heritage Realty has purchased the apartment building at 854 West 180th St in Washington Heights from Newcastle Realty Services for $16.8M. Heritage paid roughly $8M for the building in 2012.
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Vornado has purchased 408 West 15th St, a retail building adjacent to Vornado’s planned office building at 61 Ninth Ave, from William Gottlieb Real Estate for $15M.
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An entity listed as DSA 415 Washington Avenue LLC has purchased the co-op at 885 Park Ave in Brooklyn from an entity listed as 855 Park Avenue Brooklyn LLC for $13M.
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Madison Realty Capital has purchased the vacant lot at 69-02 Queens Blvd in Elmhurst for $14.75M, from Cumberland Farms Inc. The lot is the first of five nearby properties Madison is in the midst of assembling for a mixed-use development.
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An entity listed as 777 Mace Realty LLC has purchased 777 Mace Ave in the Bronx from 777 Management Corp for $12.5M.
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An entity listed as 497 Associates LLC has purchased 497 3rd Ave from 497 Realty Corp for $11M.
Sales data courtesy of Reonomy.
An entity listed as Civic Center Community Group Broadway LLC has secured a $120M loan from Bank of America for 346 Broadway, which is owned by the Peebles Corp. The same entity also secured a second loan from BofA for $63M, for the same property.
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An entity listed as MH 770-54th Street LLC has secured a $75M loan from Bank of America for the building at 770 11th Ave, which houses a Mercedes-Benz dealership.
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An entity listed as 320 W 37 LLC has secured a $62M loan from Signature Bank for the property at 320 West 37th St.
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An entity listed as Safon LLC has secured a $46M loan from Natixis Real Estate Capital for 17 Battery Place, owned by the Moinian Group. The Moinian Group defaulted on a loan for the same property a few years back.
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An entity listed as 1775 Grand Concourse LLC has secured a $30M loan from Signature Bank for the 180k SF office and retail building at 1775 Grand Concourse in the Bronx, owned by JJ Operating Inc and Houlihan-Parnes Realtors.
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An entity listed as MB Hamptons LLC has secured a $30M loan from Bank of China’s New York branch for the property at 224 West 30th St.
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An entity listed as Bindery Owner LLC has secured a $24M loan from AB Commercial Real Estate Debt for 48-08 30th Place in Queens.
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An entity listed as 185 West End Avenue Owners Corp has secured an $18.5M loan from Capital One Multifamily Finance for unit 7E at 185 West End Ave.
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An entity listed as 372 Kosciuszko LLC has secured a $15.5M loan from Bankunited for 372 Kosciuszko St in Brooklyn.
Financing data courtesy of Reonomy.
