This Week's N.Y. Deal Sheet
This week, One World Trade Center locked down another lease, Allianz closed on another ownership stake in Hudson Yards and a large office building in Brooklyn was refinanced.
Olo, a restaurant delivery service, is taking 36K SF at One World Trade Center. The space in the building is on the 82nd floor, the New York Post reports, and the asking rent in the deal is $82 per SF. The company is moving from 26 Broadway. The country's tallest building is now 83% leased. Landlord Durst Organization was represented in-house by Eric Engelhardt and Karen Kuznick and Newmark Knight Frank’s David Falk, Jason Greenstein, Peter Shimkin and Hal Stein. NKF’s Brian Lee and Travis Wilson brokered the deal for the tenant.
MBAF CPAs, an accounting firm, is taking 22K SF at 600 Third Ave., owned by L&L Holding Co.. The company is moving from 440 Park Ave. South for the 10-year deal, per a release from L&L. MBAF CPAs was represented by Lee & Associates NYC’s Dennis Someck, Justin Myers and Conor Krup. The landlord was represented in-house by David Berkey and Andrew Wiener. Asking rents were close to $70 per SF.
A fresh dog food delivery startup called The Farmer’s Dog is taking 19K SF at 214 Sullivan St. in Greenwich Village, Commercial Observer reports. The deal is for two-and-a-half years and is a sublease. CBRE’s Alec Kirschner brokered the deal for the startup, while CBRE’s Paul Haskin represented building owner Miltan Management. The rent was $53 per SF, per CO.
Krispy Kreme is leasing around 27K SF in a warehouse at 525 Zerega Ave. in Castle Hill, Crain’s New York Business reports. Simone Development Cos. owns the property, and the warehouse will feature a bakery and distribution center, per the report. Krispy Kreme last week announced plans to open a new 4,500 SF flagship at 1601 Broadway in Times Square, which will feature a glaze waterfall and a doughnut theater.
Allianz SE closed on its purchase of a stake in 30 Hudson Yards for $384M, Reuters reports. Allianz now has a 49% equity interest in 26 floors in the building. Earlier this year, it became clear that Related was buying the 1.4M SF spread in the building from WarnerMedia with an unnamed investor for $2.2B. WarnerMedia, which bought the condo from Related to help finance the megaproject, is leasing the space back from the joint venture. Allianz previously paid $420M for a minority stake in Coach's space at 10 Hudson Yards.
Century Development Group, a development firm run by George Xu, paid $26M for 11-40 45th Road in Long Island City, according to records filed with the city Monday. The seller of the office building is the Radha Soami Society Beas-America, per records. The office building has a total rentable SF of 70K SF.
TOP FINANCING DEALS
Steel Equities locked down $50M from TD Bank for its industrial assets at 325-333 and 339 Johnson Ave., Commercial Observer reports. The financing features a $40.3M building loan and a $9.7M project loan.
Citigroup provided $125M to David Bistricer’s Clipper Equity to refinance a mixed-use building at 250 Livingston St. in Brooklyn, Commercial Observer reports. The deal comes after the same bank provided $75M to the company in December. The financing was arranged by Iron Hound Management‘s Robert Verrone and Patrick Perone.
Witkoff Group locked down $43M from Deutsche Bank for two office condominiums at 420 Fifth Ave., according to JLL, the brokerage on the deal. The condos are used as the New York headquarters for Major League Soccer. JLL’s Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jackson Sastri and Michael Ianno brokered the deal.