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NATIXIS CONSOLIDATED; THE DEAL SHEET

WASHINGTON DC 07.12.2017

THE FUTURE OF SOUTHEAST DC

The Block is Hot!

Deborah Ratner Salzberg -- Forest City Washington
Janet Davis -- Brandywine Realty Trust
Richard Ruben -- Ruben Companies
NATIXIS CONSOLIDATED; THE DEAL SHEET
In another major leasing boon for Manhattan, Natixis, the investment and financial services arm of Groupe BPCE, inked a long-term, 182k SF lease at 1251 Avenue of the Americas.
1251 Avenue of the Americas, New York, NY
The agreement will enable Natixis to consolidate its employees under one roof from three locations in Manhattan—9 W 57th St and 1345 Avenue of the Americas, with employees already based at 1251. Congrats to Cushman & Wakefield’s John Cefaly, Robert Lowe, and Ed Donnery, who repped the tenant along with Natixis’ Henry Bonet and Larry Lorber. Owner Mitsui Fudosan America was repped by Newmark Knight Frank’s David Falk, Peter Shimkin and Nick Berger, along with Mitsui’s Christopher Perez.Sales Transactions In the $94M sale of 100-104 Fifth Ave that we reported last week, Studley’s Woody Heller and Will Silverman repped seller Rock New York LLC in the largest pre-petition bankruptcy auction in NY this year. CBRE Capital Markets’ Mark Fisher, Keith Braddish, Jason Gaccione, and Michael Diaz arranged a $55M, five-year, non-recourse first-mortgage loan to facilitate the acquisition.***

Massey Knakal sold 12 properties, among them: three buildings at 118 and 120-22 E 4th St, comprising 69 apartments, for $11.5M(brokers: John Ciraulo, Joe Sitt, and Craig Waggner; seller: Bread & Butter Realty’s Bruce Miltenberg); a 3,600 SF retail building at 2111-2113 86th St in Bensonhurst, Brooklyn for $3.9M (broker:Jeffrey Shalom; buyer A&H Acquisitions’ Alex Adjmi); three contiguous buildings with NNN retail stores at 1598-1602 Pitkin Ave in Brownsville, Brooklyn for $2M (brokers: Stephen Preuss and Ed Gevinski); and a two-story industrial loft building at 259-261 Banker St in Greenpoint, Brooklyn for $2M (brokers: Mark Lively and Stephen Palmese; buyer rep: Prudential Douglas Elliman’s Christopher Sheller).

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3300 Netherland Ave, New York, NY
The Parkoff Organization purchased the 66-unit apartment building at 3300 Netherland Ave and the adjacent seven-unit retail from the original owners for $16.2M. The building also contains a 33-space underground parking garage and more than 20 vacant residential units in various stages of renovation. Massey Knakal’s Karl Brumback and Joshua Rubin repped the seller, while Eastern Consolidated’s Marcia Rose Yawitz and Benjamin Tapper repped the buyer. ***Vitus Group acquired and launched the preservation of Morris Heights Mews, a 110-unit multifamily apartment at 1695 Grand Ave in Morris Heights, Bronx for $15M. The acquisition was made possible through financing provided by the NYC Housing Development Corp through HDC bonds. All of the units will remain affordable to tenants earning no more than 60% of the area median income for at least 20 years. Winn Residential Management will be the property manager, while MDG will be the general contractor.

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Marcus & Millichap brokered five deals: a 42-unit mixed-use property at 351 W 125th St for $9.2M (brokers: Sean Lefkovits,Peter Von Der Ahe, and Scott Edelstein); a six-building package containing 94 apartments at 2543-2567 Decatur Ave in the Bronx for $6.2M (seller rep: Marco Lala; buyer rep: Shaun Riney); a 54-unit apartment building at 2608 Creston Ave in the Bronx for $4M(brokers: Lala and Riney); a 8,970 SF mixed-use property at 1448 First Ave for $4M (brokers: John Stewart and Peter Vassiliou); and a 29-unit apartment building at 709 DeKalb Ave in Brooklyn for $2.1M (broker: Naomi Shu).

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Ocean 31 LP purchased the 90,900 SF, six-story apartment building at 31 Ocean Pkwy in Brooklyn for $13M. The building has 85 rent-stabilized apartments. Rosewood Realty Group’s Aaron Jungreis and Devin Cohen brokered the deal.

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A French investment group purchased a bi-level retail condo at 54 Bond St, currently leased to Rogan and Billy Reid, for $5.5M. Eastern Consolidated’s Jerome Benavoun repped both the buyer and seller, Adam Gordon.

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OBGYN Group purchased a 5,282 SF office condo at 800 Second Ave for $2.8M (buyer rep: Corcoran Wexler Health Care Properties’Paul Wexler), while Yorkson Legal purchased a 3,078 SF office condo at the same building for $1.5M. Winoker Realty’s Jonata Dayan, Adam Ben-Dayan, and Jonathan Ben-Dayan repped the owners.

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Twin Oaks Apartments, Hempstead, Long Island, NY
Conifer Realty purchased the Twin Oaks Apartments in Hempstead, Long Island from Hofstra University for an undisclosed price. The company will redevelop the former student housing property into 94 rental units. Cushman & Wakefield’s David Leviton,Andrew Merin, David Bernhaut, Gary Gabriel, and Jared Zimmel orchestrated the sale. Lease Transactions Newedge USA renewed 62,777 SF at the International Building, 630 Fifth Ave. It occupies 88,644 SF and agreed to make the leases coterminous. Cushman & Wakefield’s Jonathan Serko and Barry Zeller repped the tenant, while owner Tishman Speyer was repped in-house.

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Sabra Dipping Co is taking a dip into White Plains, relocating its international corporate HQ to 777 Westchester Ave in White Plains from Astoria, taking a 31,443 SF sublease. CBRE’s Kevin Langtry repped the sublessee.

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Hosiery and accessories company Gina Group is running into 10 W 33rd St with a 13-year, 22,864 SF lease. Hidrock Realty’s Abraham Hidary repped the tenant, while Adams & Co’s David Levy repped the landlord.

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Edison Square Office Park in Edison, NJ saw four deals: L&T Infotech’s 2,818 SF expansion, bringing its footprint to 34,121 SF (brokers: JLL’s Kevin Carton and Todd Elfand); CheckPoint HR’s five-year, 11,896 SF renewal (tenant rep: JLL’s Paul Giannone);Oceana Therapeutics’ 3,171 SF expansion, bringing its footprint to 12,819 SF (tenant rep: CBRE; landlord rep: JLL); and Carrickmore P&D’s 1,423 lease (brokers: JLL). Onyx Equities is the owner.

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BankNote Building, Bronx, NY
Bronx’s BankNote Building saw three deals: NYC Economic Development Corp and Sunshine Suites’ 10-year, 11k SF lease for a business incubator with 180 workstations; Iridescent-ONR’s five year, 2,500 SF lease, with an expansion consideration of 7,500 SF; and Hunts Point Alliance for Children’s five-year, 1,200 SF lease. ***Eastern Wood inked a 11,500 SF lease at 64 Grant Ave in Carteret, NJ. William F. Connors Agency’s William Connors III repped both the tenant and owner.

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Kahn Lucas Lancaster is adding 11k SF to its lease at 112 W 34th St, bringing its total occupancy to more than 35k SF. Murray Hill Properties’ Arnold Gamberg repped the tenant, while Cushman & Wakefield’s Mitchell Arkin and Ethan Silverstein repped owner W&H Properties.

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One Madison Ave is looking a bit more delicious, with two new restaurant deals: a 4,790 SF lease for Schnipper’s Quality Kitchen’s second location (tenant rep: KEM Realty’s Kim McCullough) and a 3,584 SF lease for Gustavo America (tenant rep: Great American Brokerage’s Paul Fetscher). Robert K. Futterman & Associates’ Ariel Schuster, Greg Covey, and Izzy Anthony repped the sublandlord in both deals.

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Dedon leased 6,800 SF at 76 Greene St in SoHo, its first US location. Cushman & Wakefield’s Joanne Podell and Matthew Seigel were the sole brokers in the transaction, and rep Dedon in other US urban markets.

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Shulsky Properties inked a 10-year, 5,126 SF lease at 192 Lexington Ave. Adams & Co’s Alan Bonett repped the tenant, while CBRE’s Bruce Weinberg repped the landlord.

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US Renewables Group took its name seriously and extended its 2,190 SF lease at Ten Bank Street in White Plains. Owner Malkin Properties was repped in-house by Jeffrey Newman, Kimberly Zaccagnino, and Jovani Rampersad. Meanwhile, Pine Brook Road Advisors also inked a deal at the building, taking a five-year, 1,470 SF lease. Jeffrey and Kimberly repped the owner again, while Howard Properties’ Howard Greenberg repped the tenant.

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Redeemed Christian Church of God Chapel of Restoration signed a 2k SF lease at 181 E 111th St for its new church, its first Manhattan location. Giscombe Realty Group’s Holley Drakeford brokered the deal.

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Forever Young Health & Beauty Spa is dolling up 519 Eighth Ave, where it took a 10-year, 1,200 SF lease for its second spa in the city. The Kaufman Organization’s Yvonne Chang repped the tenant, while the firm’s Steven Kaufman and Barbara Raskob repped the owner.

Financing

Meridian Capital Group arranged over $70M in new mortgages, including: $30M for a 134-unit multifamily building on East End Ave(arranged by Carol Shelby and Dani Sabesan); $17.7M for a 32-unit multifamily building on Second Ave (arranged by Shelby and Sabesan); $7.2M for an 83-unit building on W 236th St in Riverdale(arranged by Steven Tessler and Zev Feder); $5.6M for a 74-unit multifamily building on Seaman Ave (arranged by Morris Diamant);$5M for a 33-unit multifamily building on E 83rd St (arranged by Shelby and Sabesan); and $4.9M for a 18,726 SF mixed-use building on Broadway (arranged by David Ostrov and Mindy Bergman).

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NCB FSB arranged $69M in new financing for 19 New York-area properties, including a $22M first mortgage accompanied by a $2.9M second mortgage line of credit and a $1M third mortgage line of credit for Turner Towers Tenant Corp, a 189-unit co-op at 135 Eastern Pkwy in Brooklyn (arranged by Sheldon Gartenstein); a $5.3M first mortgage for 200 Diplomat Drives Corp, a 224-unit co-op at 100-200 Diplomat Dr in Mount Kisco (arranged by Mindy Goldstein); and a $4.8M first mortgage and $350k line of credit for Eillvkrov Realty Corp, a 90-unit co-op at 446 E 86th St (arranged by Edward Howe III).

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Veteran’s Square Shopping Center, Lyndhurst, NJ
The NJ office of Holliday Fenoglio Fowler arranged a $17.8M refinancing for Veteran’s Square Shopping Center, a 113k SF grocery-anchored retail center in Lyndhurst, NJ. The firm’s Jon Mikula and Michael Klein secured the 10-year, fixed-rate loan through Nationwide Life Insurance Co on behalf of The Hampshire Cos. ***GCP Capital Group arranged mortgage financing totaling $13M, including: $4.4M for a six-story elevator apartment building with 65 units on 88th Ave in Queens (arranged by Paul Greenbaum); $3.7M for a 30,503 SF commercial building (arranged by Stephen Katz);$3M for a 42k SF office/retail building in Jersey City (arranged by Greenbaum); and $1.9M for a two-story walk-up apartment building with 16 units on South Conduit Ave in Queens (arranged by Matthew Classi).

Executive Moves

Brandl Frey joined The Durst Organization as leasing manager, and will be part of the team responsible for leasing the firm’s 10M SF commercial portfolio. She was previously with Newmark Knight Frank, and also held a position at Cushman & Wakefield. She’s an NYU grad.

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Peter Bronsnick joined RXR Realty as VP of leasing, based out of the company’s Short Hills, NJ office. He was previously with Mack-Cali, and held positions at Newmark Knight Frank and Delforno Real Estate. He’s a Michigan State and NYU grad.

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Dennis Pollack and Ross Bartfield joined EdgeRock Realty Advisors as respective senior managing director and SVP, leading the firm’s new private placement practice. Dennis was previously with Valens Capital Management, and held positions at the Connecticut Bank of Commerce, the Savings Bank of Rockland County, and Sony Corp. He’s a Columbia, Seton Hall, and NYU grad. Ross also comes from Valens, and held positions at Citigroup Alternative Investments, UBS, and PaineWebber. He’s a SUNY Buffalo grad.

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Laurence London joined Admiral Real Estate Services Corp to head its new office division, after a decade of concentration on office brokerage in Westchester and Fairfield Counties. His client list includes Ameriprise Financial, ENT and Allergy Associates, and the New York Eye and Ear Infirmary.

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Marcus & Millichap promoted J.D. Parker to VP, in addition to his current position of regional manager of the Manhattan, Brooklyn, and New Haven offices. He joined the firm in ’04 as a salesperson and quickly moved up the ranks, and began managing the regional offices earlier this year. Previously, he was a dive master in Thailand, and is a Penn State grad.

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MKDA promoted four: John Giuseffi and Daniel DeSiena to EVPs, and Lon Skidds and Ari Weisfelner to SVPs. John joined the firm in ’91, and oversees corporate and landlord projects. He’s a Pratt grad. Daniel joined in ’83, and oversees corporate interior projects. He’s a SUNY grad, and studied at Cleveland State University’s School of Law and Parsons School of Design. Lon joined in ’04, and manages corporate and landlord interior projects. He’s an NYIT grad. And Ari joined in ’05, and manages corporate and landlord projects. He’s a SUNY Delhi and NYIT grad.

Related Topics: CBRE, RXR Realty, Great American Brokerage, Paul Fetscher, conifer realty, Meridian Capital Group, Joanne Podell, Rosewood Realty Group, Stephen Palmese, Aaron Jungreis, John Stewart, NYC Housing Development Corp, Hidrock Realty, Abraham Hidary, Karl Brumback, Michael Klein, NYC Economic Development Corp, Joe Sitt, Paul Wexler, Winoker Realty, Holliday Fenoglio Fowler, FINANCINGMeridian Capital Group, Matthew Classi, Kimberly Zaccagnino, David Bernhaut, Barbara Raskob, John Ciraulo, Andrew Merin, Gary Gabriel, Mindy Goldstein, The Hampshire Cos, Sheldon Gartenstein, Peter Von Der Ahe, Edward Howe III, Morris Diamant, David Falk, Onyx Equities, Ariel Schuster, Woody Heller, Steven Kaufman, Alan Bonett, Jon Mikula, Michigan State, New Haven, Mark Lively, Stephen Preuss, Scott Edelstein, Jeffrey Shalom, Adam Ben, Greg Covey, Howard Greenberg, Craig Waggner, Connors Agency, Jonathan Ben, Ten Bank Street, Howard Properties, Barry Zeller, Kevin Langtry, Mitchell Arkin, Marco Lala, Stephen Katz, William Connors III, Jonathan Serko, Ethan Silverstein, David Ostrov, Michael Diaz, David Leviton, The NJ, Kevin Carton, Shaun Riney, John Cefaly, Fairfield Counties, Keith Braddish, Mount Kisco, Jason Gaccione, Peter Shimkin, BankNote Building, Sean Lefkovits, Yvonne Chang, Devin Cohen, Giscombe Realty Group, Diplomat Dr, Paul Giannone, Will Silverman, Ameriprise Financial, Izzy Anthony, Alex Adjmi, Shulsky Properties, Seton Hall, Mindy Bergman, Rockland County, Jared Zimmel, The Kaufman Organization, Benjamin Tapper, Marcia Rose Yawitz, Robert Lowe, Todd Elfand, Nationwide Life Insurance Co, Short Hills, Hofstra University, Holley Drakeford, Ed Donnery, Zev Feder, SUNY Buffalo, Bruce Weinberg, Peter Bronsnick, Mark Fisher, US Renewables Group, Vitus Group, Ed Gevinski, Joshua Rubin, Morris Heights, Peter Vassiliou, Sabra Dipping Co, Edison Square Office Park, Arnold Gamberg, Matthew Seigel, EdgeRock Realty Advisors, Savings Bank, John Giuseffi, Daniel DeSiena, Cleveland State University, SUNY Delhi, Allergy Associates, The Durst Organization, International Building, Steven Tessler, Christopher Perez, 078 SF, 190 SF, Admiral Capital