ROGER CALLED IT; THE DEAL SHEET
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
|When it comes to picking a winner, JLL experts claimed they couldpredict Sunday’s champ by analyzing the CRE climate in each team’s hometown, and they nailed it.|
|Pictured is JLL exec chairman Roger Staubach, who just happens to be a two-time Super Bowl champ, and his son, JLL SVP Jeff Staubach. JLL’s analysis: Teams based in cities with a higher office vacancy have won the Lombardi Trophy nearly two-thirds of the time since 2000. Congrats to JLL on the pick and Green Bay on the win. As of Jan. 1, the office vacancy rate in Pittsburgh held steady at12.1% (one of the lowest nationwide). But Green Bay's 18.9%vacancy seemingly earned the city its first Super Bowl title since '97. Roger presented this year's trophy to the Pack and denies that this year’s prediction was at all related to the fact that he lost Super Bowls X and XIII to the Steelers. For more great Super Bowl coverage, check out our Dallas issue.|
An institutional client purchased the 180-unit The Staten Island Package apartment properties located at 331 Harbor Rd, 25 Slaight St, and 70 Kimberly Ln from a private investor for $7.5M. Marcus & Millichap’s Marco Lala repped both the buyer and seller. The firm’sSaid Boukhalfa also repped the sale of the six-unit, 4,800 SF mixed-use property at 888 Manhattan Ave in Brooklyn for $1.4M.***
|Kanebridge Corp purchased 38 Fairfield Pl in West Caldwell, NJ from JKL Properties for $3.85M. Cassidy Turley’s Howard Weinberg and Matthew Turse repped the seller, while Kanebridge was repped by Cushman & Wakefield’s Curtis Foster, who’s also serving as marketing agent for Kanebridge’s soon-to-be former HQ at153 Bauer Dr in Oakland, NJ. ***S&H Rugs purchased the 22k SF 40 Universal Pl in Carlstadt, NJ for $1.2M. The William F. Connors Agency’s William Connors IIIrepped the buyer, while Lee & Associates repped the seller.|
W. R. Berkley Corp signed a 47k SF lease at Three Stamford Plazain Stamford, Conn. Bernard Realty’s Belinda Scanlon repped the tenant, while Margaret Carlson repped owner RFR Realty in-house.
|Outerstuff inked a long-term, 34k SF lease at 1412 Broadway. Normon Bobrow & Co’s Simeon Weber repped the tenant, while owner Harbor Group International was repped in-house. ***TF Cornerstone is moving to 30k SF at 387 Park Ave South, a 200k SF building the firm acquired in ’05 (it plans a multimillion dollar renovation).|
The Fashion Accessories Center at 10 W 33rd St is sparkling with two deals: Accessory Zone’s eight-year, 7,058 SF lease (broker: Adams & Co’s David Levy) and SA&E International Bag & Accessories’ seven-year, 7,264 SF renewal (tenant rep: Hidrock Realty; landlord rep: Levy).
Ropers, Majeski, Kohn & Bentley signed a 10-year, 11,765 SFlease at 750 Third Ave. Newmark Knight Frank’s Robert Silverrepped the tenant, while Cryder Bankcroft’s David Kaufman repped owner SL Green.
SymphonyIRI Group renewed its 10k SF lease at MerrittView, at the intersection of Rt 7 and Merritt Pkwy in Norwalk, Conn. JLL’sJohn Ryan and Paul Tortora repped the tenant, while Jeffrey Newman repped owner Malkin Properties in-house.
Muscle Maker Grill is bringing flex appeal with a new 2,795 SFrestaurant to Brunswick Shopping Center in North Brunswick, NJ. RJ Brunelli & Co’s Danielle Brunelli repped the tenant, while Levin Management Corp’s Jake Frantzman repped the owner.
NJR Associates renewed its 2,300 SF lease at 250 W 39th St. Savitt Partners’ Marc Schoen and Ed Eckstein repped the tenant, while Tarter Stats O’Toole’s Catherine O’Toole and Jonathan Minesrepped owner Lincoln Property Co.
How sweet it is—The London Candy Co leased its first US storefront: 1,100 SF at 1442 Lexington Ave. New York Commercial Realty Services’ Marjorie Borell repped the tenant, while Winick Realty’s Annie Shinn and Darrell Rubens repped the owner.
GCP Capital Group arranged $22M in mortgage financing, including$11.5M for a seven-story, 40-unit residential building on Metropolitan Ave in Brooklyn (arranged by Paul Greenbaum); $6.8M for a six-story, 31-unit apartment building and two stores on Mulberry St(arranged by Adam Brostovski); and $3.7M for a six-story, 35-unit elevator apartment building in Flushing (arranged by Matthew Classi).
Construction & Development
The Yonkers Industrial Development Agency unanimously passed a resolution to finalize a set of economic development incentives for the construction of a $25.6M, seven-story, 77-unit residential building at 47-75 Ravine Ave. The project is being developed by the Center for Urban Rehabilitation and L+M Development Partners, which will also restore the long-abandoned Irving Park. Work could begin late this year.
CBRE launched a new, proprietary online real estate loan auction service, expanding the company’s capabilities for assisting sellersin the disposition of commercial real estate loans. The service provides an open auction bidding capability.
Ilan Bracha, whose Bracha Group recently opened Keller Williams Realty's first real estate franchise office in Manhattan, has been named Keller Williams chairman. Ilan served as a commander in theIsraeli Army before working for a boutique brokerage and foundingBracha Group in ’02. His group joined Prudential Douglas Ellimanin ’05, and 18 members left the firm to join Keller Williams with him.
Newmark Knight Frank’s Long Island office promoted Daniel Oliverto managing director. He’s been with the firm since ’05, and prominent transactions include St. George’s University’s 50k SF relocation to Great River and a 22k SF restructure and extension for the Suffolk County government in Riverhead. He’s a SUNY Buffalograd and has completed coursework at NYU Schack.
Philip Amarante joined Colliers International as senior managing director, providing both tenant and landlord rep services in NYC. He was previously with Cushman & Wakefield and held positions at Colliers' early predecessor Williams Real Estate Co and Edward S. Gordon Co. He’s a Colby College grad.
Jonathan Tootell, Daniel Turkewitz, and Diana Biasiotti joinedJLL, responsible for new business development and tenant and agency leasing services throughout the metro area. Jonathan specializes in agency leasing and Daniel in tenant rep services for financial services, entertainment, and media firms; Diana is also anagency leasing specialist.