7 WTC INKS FINAL DEAL
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| The final deal has been sealed at 7 World Trade Center, with MSCI inking a 20-year, 125k SF lease for floors 47 through 49, bringing the tower to full occupancy. MSCI will move its world HQ from its current location at One Chase Plaza and consolidate all of its employees in 7 WTC in 2012. Cushman & Wakefield's Gary Greenspan and Michael Burgio repped the tenant, while Silverstein Properties' Roger Silverstein and Jeremy Moss, along with CBRE's Steve Siegel and Peter Turchin, repped owner Silverstein Properties. | ||
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| SALES First Atlantic Real Estate purchased the 22k SF mixed-use apartment building at 344-346 W 14th St from Real Estate Equities Corp for $23.3M. Grubb & Ellis' Vincent Carrega, Neil Helman, and Charles Kingsley repped the seller. *** | ||
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| GHP Office Purchasing purchased 24 condo units in Brookchester Court at 342 Westchester Ave, Port Chester, from HSBC in an REO deal for $3.1M. CBRE's Christopher Leonard and Gene Pride repped the seller and procured the buyer. ***Massey Knakal sold a development site at 219 Jay St, Brooklyn for $2.3M cash. The corner property includes a three- and four-story vacant former dorm building, and has about 30k buildable SF. The firm's Stephen Palmese exclusively handled the transaction. *** Gramercy Surgery Center purchased a 23k SF medical office property at 59-25 Kissena Blvd, Flushing from EmblemHealth for an undisclosed price. Colliers International's Brian Given, Steven Jaray, and Sheena Gohil with MC O'Brein's William O'Brien and Karen Cohen repped the seller. LEASES | ||
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| 411 Lafayette St saw three deals: NYU's 10-year, 33k SF renewal and expansion (tenant reps: Newmark Knight Frank's Jimmy Kuhn,Howard Kessler, Brent Ozarowski, and Jordan Gosin); HQ Global Workplaces' 10-year, 16k SF lease (tenant rep: Rosenhaus Real Estate's Richard Rosenhaus); and Dienst + Dotter's five-year, 3,500 SF lease (tenant rep: Rosen & Jacobs Realty's Tricia Rosen).Mark Stein and Jason Vacker repped owner Himmel + Merinoff Properties for each deal, with the addition of Winick Realty's Darrell Rubens, Annie Shinn, and Lee Block for Dienst + Dotter. ***Planet Fitness is opening its Manhattan flagship at 158 W 27th St, where it inked a 15-year, 20k SF lease. Mark Stein and Jason Vacker repped owner Himmel + Meringoff Properties in-house. *** Ripco Real Estate brokered four transactions: Canvass Home's 4,700 SF lease at 123 W 17th St (tenant rep: JDF Realty's Drew Weiss; landlord reps: Ripco's Jason Pennington, Brad Cohen, and Zach Nathan for 121-125 W. 17 Owners Corp); McDonald's 3,000 SF lease at 3809 Broadway (tenant rep: Ripco's Miles Mahony; landlord rep: Cohen for Apple Bank For Savings); Building on Bond's 2,000 SF lease at 343 Gold St, Brooklyn (landlord reps: Pennington and Cohen for AvalonBay); and Amber's 1,500 SF lease at 135 Christopher St (landlord reps: Pennington, Cohen, and Nathan for Christopher Realty). *** Adams & Co brokered three deals: Executive Color Systems' six-year, 6,500 SF lease at 42 W 39th St (tenant rep: Prime Manhattan Realty; landlord rep: Adams' David Levy for 42-52 West 39 Street LLC); Learn It Systems' five-year, 4,200 SF lease at 40 Exchange Pl (tenant rep: Adams' Joseph Friedman; landlord rep: Jud Leasing's Charles Beyda); and Audio Technology's three-year, 1,700 SF lease at 530 Seventh Ave (broker: Adams' Brett Maslin; landlord: Savitt Partners). *** Madison Strategic Partners inked a three-year, 4,600 SF lease at 515 Madison. Rice and Associates' Elie Reiss repped the tenant, while Newmark Knight Frank repped the building's owner, the Gural family. *** | ||
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| Insler and Hermann signed a 3,200 SF lease at 560 White Plains Rd, Tarrytown. CBRE's Budd Wiesenberg repped the tenant, while Joel Cardillo repped owner RXR Realty in-house. ***16 HANDLES signed a 2,800 SF lease at 498 Sixth Ave. CS Commercial's Neal Ohm repped the tenant, while Newmark Knight Frank Retail's Jay Gilbert repped owner Sixth Avenue Equities. *** 1800mattress.com inked a 2,500 SF lease at 2417 Flatbush Ave, Brooklyn. Winick Realty's Tatiana Jung repped both the tenant and landlord, Prince Plaza Development Corp. FINANCING Meridian Capital Group arranged over $44M in financing, including:$17.5M for a 12-story office building on Park Avenue South(arranged by Morris Diamant); $8.9M for a six-property multifamily portfolio throughout the Bronx (arranged by David Zlotnick and Chaim Tessler); $7.2M for a 58-unit, six-story multifamily building on Cabrini Boulevard (arranged by Carol Shelby and Dani Sabesan); and $5.3M for a 92-unit, five-story multifamily building on Phelan Place, Bronx (arranged by David Hayum and Moe Rosenblum). *** NCB FSB arranged $56M in co-op financing, including: $6M first mortgage and $600k line of credit for The Woodlands Apartment Corp, a 223-unit co-op at 120 Cardinal Ln, Islip, Long Island; a $4.3M first mortgage and $500k line of credit for Edgebrook Cooperative, a 159-unit co-op at 43 Lawrence Dr, North White Plains (arranged by Mindy Goldstein); and a $3.4M first mortgage and $600k line of credit for 230 Apartments Corp, a 113-unit co-op at 230 West End Ave (arranged by Sheldon Gartenstein). *** Marcus & Millichap Capital Corp arranged a $31.7M refi loan for a nine-property multifamily and retail portfolio in NYC, totaling 122 residential and 14 commercial units. The firm's Gerald Kray, Jake Roberts, and Anita Paryani arranged the financing, which is fixed at 5.5% for 10-years with 30-year amortization and 70% LTV. *** GCP Capital Group arranged over $31M in financing, including:$12.7M for four retail condo units totaling 9,100 SF on Lexington Avenue (arranged by Matthew Classi); $6.2M for a package of four apartment buildings totaling 85 units in the Bronx (arranged by Adam Brostovski); $4.8M for a portfolio of three mixed-use buildings totaling 69 residential and six commercial units in Manhattan (arranged by Matthew Albano); and $3M for a 59-unit, six-story elevator apartment building on 120th Street, Queens (arranged by Paul Greenbaum). CONSTRUCTION & DEVELOPMENT Nassau County Industrial Development Agency approved a unique financial assistance package that will pave the way for the redevelopment of the county's largest developable tract of land, 95 acres in Bethpage, Long Island. NCIDA approved a 40-year PILOT plan for the former Navy-owned property, and Nassau Steel is in contract to buy the property for $15M. The cleanup and initial rehab will take five years and cost $20M. Forchelli, Curto, Deegan's Dan Deegan repped the developer; Bilow Garrett Group is the architect planner; The Marcus Org is the GC; and Maccarone Plumbing is the mitigation contractor. *** The last of the five towers that make up the Columbus Square development at 805 Columbus Ave has opened and is available for lease. The Chetrit Group and Stellar Management are the co-developers of the 15-story tower, which has 63 apartments. The $1B development has 500k SF of residential and retail between 97th and 100th Streets and was designed by Costas Kondylis and SLCE with interiors by Andres Escobar. FUNDS RiverOak Investment Corp launched RiverOak Urban Investors Fund I, with a capital target of $300M. It will focus on repositioning urban mixed-use retail in 24-hour CBDs with favorable demographic growth. EXECUTIVE MOVES Todd Korren joined Savanna as principal and director of leasing. He was previously with Swig Equities, and held positions at The Witkoff Group, Insignia/ESG, and StructureTone. He's an NYU grad. *** Katherine Mahon joined Cassidy Turley ad VP of brokerage services. She was previously with CBRE. *** Scott Edlitz joined NAI Global New York City as executive managing director and team leader of the retail services group. He was previously with ZE Realty Group, and held a position with Robert K Futterman & Associates. He's a University of Arizona grad. *** Andrew Clemens joined Massey Knakal as director of retail leasing, focusing on Brooklyn's Bed-Stuy, Bushwick, Crown Heights, Prospect, Lefferts Gardens, and Stuyvesant Heights neighborhoods. He was previously with One Source Visual Marketing Solutions and Allergan. He's a University of Louisville grad. *** Erika Schanke joined Cohen Brothers Realty Corp as VP of leasing, focusing on design center and retail leasing for the firm's national portfolio. She was previously with Cushman & Wakefield, and held positions at McCann Erickson Advertising and Momentum Promotional Marketing. She's a Florida Atlantic University grad. *** John Henderson joined Morris Adjmi Architects as managing director, responsible for day-to-day operations and expanding the firm's interior design practice. He was previously with Clodagh Design and held a position at STUDIOS Architecture. *** Kimberly Dowdell joined Levien & Co, focusing on marketing and project management. She was previously with HOK, and held positions at Ayers Saint Gross and the General Services Administration. She's a Cornell grad. *** Studley promoted Nicholas Farmakis to corporate managing director. He's been with Studley since '99, and is a Boston University grad. *** Massey Knakal Retail Leasing Services promoted Ellaina Dreifach to first VP of retail leasing, focusing on the Financial District and TriBeCa. Before MK, she was with Eretz Realty, DRA Advisors, and Forest City Ratner. | ||
