This Week's NY Deal Sheet
It was fairly slim pickins' this past week with the Fourth of July, but some significant transactions closed in the city, like a 55k SF addition to the existing 30k SF of Weill Cornell Medical College at William Macklowe Co's 156 William St in the Financial District.
The addition comes as another major healthcare provider, NewYork-Presbyterian, recently announced it's on the hunt for a 500k SF spread at one of three locations, two of which—28 Liberty and One New York Plaza, are also in the Financial District. Asking rents in the office portion of 156 William, where the expansion will take place, are in the $50s/SF. Cushman & Wakefield’s John Cefaly, Michael Burgio and David Berke repped Cornell. Corcoran Group’s Paul Wexler and Josef Yadgarov repped the landlord.
TOP LEASES
Times Square Attractions Live signed a 59k SF lease for a multi-level immersive entertainment venue at 226 West 44th St. National Geographic Times Square: Ocean Giants will fill the space starting next summer. Kushner Cos owns the 295k SF retail condo that houses the space. CBRE’s Eric Gelber repped the tenant. Kushner Cos’ Morris Harary, Larry Rabinowitz and Ira Bloom repped the landlord in-house, along with CBRE’s Lon Rubackin and Gary Trock.
Translation signed a 35k SF lease at 10 Jay St in Dumbo. Newmark Grubb Knight Frank’s Lance Korman repped the tenant. CBRE’s Ben Friedland, Keith Caggiano, Zak Sniderand and Evan Fiddle repped the landlord.
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Offit Capital Advisors signed a 14k SF 10-year renewal at 485 Lexington Ave. Newmark Grubb Knight Frank’s Larry Zuckerman repped the tenant, and Natasha Brown repped the landlord, SL Green, in-house.
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451 Research renewed its 13k SF lease at 20 West 37th St.
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InVision Communications signed a 12k SF lease at 550 Seventh Ave. NGKF's Robin Fisher and Christie Bennett repped the tenant. The Kaufman Organization’s Michael Heaner and Sam Stein repped the landlord in-house.
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The Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine of Weill Cornell Medicine signed a 15-year lease for 10,550 SF at 255 Greenwich St. Cushman & Wakefield’s John Cefaly and Michael Burgio repped the tenant. Jack Resnick & Sons’ Dennis Brady and Brett Greenberg repped the landlord in-house.
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Stash Inc signed a four-year, approximately 3,300 SF lease at 27 West 24th St. Newmark Grubb Knight Frank's Jonathan Franzel repped the tenant, and the Kaufman Organization's Ian Norris and Aron Orbach repped the landlord in-house.
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Kendall and Kylie Jenner’s clothing line, KENDALL + KYLIE, signed a 2,600 SF lease at 27 West 24th St. The Lansco Corp's Matt Cohen repped the tenant. The Kaufman Organization's Ian Norris and Aron Orbach repped the landlord in-house.
TOP SALES
BRG Management sold 34-18 91st St in Queens to Mesa Verde Apartments LLC for $72.1M.
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KHP Capital Partners sold a 205-key hotel property at 70 Park Ave to Amancio Ortega’s Ponte Gadea for $67.5M.
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The Drachman family sold a 50k SF cast iron office building at 61 West 23rd St to the Zegna family and Taconic Investment Partners for $65M.
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Starrett Corp sold 129 condo units at 100 West 93rd St to ABC Properties for $47.6M. Trader Joe’s is preparing to open a new location in the building’s retail space.
Sales data provided courtesy of Reonomy.
TOP FINANCING DEALS
Prudential closed on a $319.5M loan to St. Luke's-Roosevelt Hospital Center for 1091 Amsterdam Ave.
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Chang HWA Commercial Bank closed on a $48M loan to RUN 178 LLC for 325 West 35th St. In January, an entity controlled by Raber Properties’ Lance Steinberg reportedly paid $35M for the property.
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Capital One closed a $47M loan to Mesa Verde Apartments LLC for its $72.1M purchase of 34-18 91st St in Queens.
Morgan Stanley closed on a $44M loan to an entity listed as C & K 1285 Owner LLC for 1285 Sixth Ave, a 42-story Class-A office tower. This May, RXR Realty closed on a $1.7B purchase of the building, backed by a $1.2B financing package from AIG and Morgan Stanley.
Financing data provided courtesy of Reonomy.
