Construction & Development
Advance Realty finished the full remediation of Riverbend District, one of the largest brownfield, mixed-use transit oriented developments in New Jersey. The next step is construction of site utilities and roadways in time for the October 2009 opening of the 25k-seat Red Bull Arena. Overall, the project will feature more than800k SF of retail space, 1.5M SF of office space, a 200-room and350-room hotel, a 16-screen cinema and 1,800 for-sale and rental residential units. Construction is expected to begin in early 2010.
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John Gallin & Son completed construction of the Action Center to End World Hunger, a multimedia center in Battery Park Citydeveloped by global relief and development agency Mercy Corps. The 4,000-SF center was designed for LEED Platinum certification, using deconstructed materials from demolished buildings in New Orleans. The project team also included ESI Design, Gary Shoemaker Architects and engineer IP Group.
Lease Transactions
Viacom International renewed and extended its lease covering 1.3M SF for its global HQ at 1515 Broadway. CB Richard Ellis' Michael Langinestra, Scott Gottlieb and Andrew Sussman and the legal team of Shearman & Sterling's Chris Smith and Laura Chiritarepresented the tenant. Building owner SL Green was represented in-house by Steven Durels, Neil Kessner and Kathy Crocco and attorneys Stuart Mass and Noah Shapiro of Paul, Hastings, Janofsky & Walker.
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Lifetime Networks is relocating its New York exec offices to 111 Eighth Ave., inking a 12-year, 71k-SF lease on the 11th floor. CB Richard Ellis' Scott Gottlieb, Michael Laginestra, Joan Meixnerand Fred Fackelmayer represented the tenant, while CBRE's Brian Gell represented building owner Taconic Investment Partners.
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CB Richard Ellis' Gary Trock and Edward Goldman arranged more than 80k SF of retail and garage leases at Manhattan House on 200 East 66th St. on behalf of O'Connor Capital Partners. Among the 30k SF in ground-floor retail transactions include Lululemon Athletica, ALDO Shoes, Staples Express and Madame Paulette. The firm also arranged a long-term 55K-SF parking garage lease withIcon Parking Systems.
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Entertainment business management firm ML Management Associates leased the entire 9,200-SF, 26th-floor penthouse of 250 West 57th St. Cushman & Wakefield's Mitchell Arkin and Ethan Silverstein represented the tenant, while C&W's Barry Zellerrepresented building owner W&H Properties.
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AT&T Mobility leased 3,000-SF on the ground floor of the Empire State Building, and will open the flagship store in early 2009. Winick Realty's Steven Baker represented the tenant, while CBRE'sEric Gelber, Andrew Goldberg and Matthew Chmieleckirepresented building owner W&H Properties.
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Investment banking company vFinance inked a two-year, 10-month, 6,890-SF sublease at 330 Madison Ave. Winoker Realty's Corey Abdo represented the tenant, a medical education company, while George Comfort & Sons' Glenn Dawson and Mitch Kunikoffrepresented the sub-tenant.
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10 West 33rd St. just garnered two deals: Timi & Leslie's five-year, 3,078-SF lease and United Footwear Group's five-year, 2,017-SF renewal. Adams & Co.'s David Levy represented the undisclosed landlord in both transactions and United Footwear Group. City Sites Commercial Group represented Timi & Leslie. Asking rents were$42 PSF.
Sales Transactions
Juster Development purchased the 211k-SF 100 and 120 White Plains Rd. in Tarrytown from SL Green for $48M. Cushman & Wakefield's Andrew Merin, David Bernhaut, Gary Gabriel, Jose Cruz, Glenn Walsh and Tom O'Leary represented the seller and procured the buyer.
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A locally based real estate family purchased the 49-unit The Canterbury apartment building at 204 W. 108th St.for $16.75M. Eastern Consolidated's David Kalish represented the buyer, while Eastern's Brian Ezratty, Deborah Gutoff and Ronda Rogovinrepresented seller IGPF Canterbury. The buyer and seller's respective attorneys were Cutler Minikes and Adelman's Richard Adelman and Goodwin Procter's Ross Gillman.
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