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THE DEAL SHEET

THE DEAL SHEET
Sale Transactions The Kislak Co. sold two apartment buildings in West New York, NJ: the 25-unit 401 53rd St. for $2.2M, and the 24-unit 4111 Palisade Ave. for $2.3M. Kislak’s Don Baxter and Jonathan Greenberg represented both private investors in the transactions. Meridian Capital’s Elliot Treitel arranged the financing and Feinstein Raiss Kelin & Booker’s Larry Raiss also represented the buyers.***

CB Richard Ellis’ private client group sold the 25k-SF mixed-use facility at 22-43 Park Ave. in Paterson, NJ for $1.8M. CB’s Dean Marchi and Charles Berger represented the seller, a trustee acting on behalf of the lender, while CB’s Stephen D'Amato represented the buyer in the leasing component of the transaction.

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Lease Transactions

In one of the city’s largest office leases of the year, NBA Properties, a subsidiary of the National Basketball Association, renewed its 153k-SF lease at 645 Fifth Ave. for another 10 years. Newmark Knight Frank’s Barry Gosin, Moshe Sukenik, and Corey Borg represented the tenant, while FirstService Williams’ Harry Seherr-Thoss, Mark Jaccom, Robert Freedman, Richard Plehn Sr., and Christina Plakopita represented landlord Olympic Tower Associates.

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Deloitte signed a long-term, 37k-SF renewal at Two Jericho Plaza in Jericho, Long Island. CB Richard Ellis’ John Nugent and Ray Ruiz represented the tenant, while The Rochlin Org.’s Adam Rochlin and Ruskin Moscou Faltischek’s Eric Rubenstein represented landlord Onyx Equities.

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Primary research firm Guidepoint Global signed a seven-year,30.7k-SF lease at 730 Third Ave. after its recent acquisition of S&Ps Vista Research necessitated larger space. NAI Global New York City’s Andrew Simon and Logan Gurtman represented the tenant, while CB Richard Ellis’ Howard Fiddle represented owner TIAA-CREF.

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The Jim Henson Co. signed a seven-year, 12k-SF office lease at 37-18 Northern Blvd. in Long Island City, relocating from 627 Broadway in NoHo. The new space will house the east coast division of its Creature Shop. Cushman & Wakefield’s James DeLuca represented the tenant in site search and lease negotiations with owner Acumen Capital Partners.

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Adams & Co. brokered four leases: Bold PR’s three-year, 1.3k-SF at 121 E. 24th St. (landlord brokers: James Buslik and Jeffrey Schwartz; tenant broker: ABS Partners’ Ben Waller); Summit One’s two-year, 1k-SF at 231 W. 39th St. (brokers: James Buslik and Jeffrey Buslik); Integral Construction’s five-year, 1.4k-SF at 33 E. 33rd St. (tenant broker: Joseph Friedman; landlord broker: Newmark Knight Frank’s Ronald Zimmerman); and RPL Designs’ four year, 1.2k-SF at 10 W. 34th St. (broker: David Levy).

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Designer Brian Reyes signed a five-year, 4.6k-SF lease at 304 Hudson St. Isaacs & Co.’s Joshua Lewin represented the tenant, while Tom Lynch represented owner Trinity Real Estate in-house.

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110 W. 40th St. saw four new leases, brokered by Adams & Co.’s David Levy and Michael Greenberg: Elite Street’s three-year, 991-SF renewal; Universal Fabric’s six-year, 418-SF lease (tenant broker: Adams’ Brett Maslin); Fifi Oscard Agency’s four-year, 778-SF lease; and Goldart International’s five-year, 619-SF lease (tenant broker: Own Manhattan). Although deal terms were not disclosed, the asking price was $39 PSF.

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N Harlem New York, a boutique, signed a lease at 171 Lenox Ave., where it’s expanding from nearby 116th St. Prudential Douglas Elliman’s Faith Hope Consolo and Joseph Aquino represented both the landlord and tenant in the transaction.

Financing

The Community Preservation Corp. and the NYC Department of Housing Preservation and Development provided a $1.7M construction and permanent loan to Frederick Brown for the gut renovation of a five-story rental building at 10 E. 132nd St., a 15-unit building that is being reconfigured into a one-studio, nine-unit building.

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CBRE Capital Markets’ Keith Braddish, Jason Gaccione, and Rayna Karaivanov arranged a $1M fixed-rate first mortgage to refinance a loan for 130 W. 72nd St., an 8.8k-SF mixed-use, five-story walk-up building. The non-recourse 5-year loan has a 25-year amortization schedule at a fixed rate of 5.875%.

Construction & Development

Lincoln Equities Group and GIM PA Partners, an affiliate of Grosvenor, submitted an application to begin the city’s uniform land-use review process for a new project in Halletts Point, Astoria, Queens. The application asks for land-use modifications to turn the dilapidated manufacturing district into a mixed-use community with 500 units of affordable housing, 2k units of market-rate housing, a public waterfront esplanade park, a supermarket, retail, and restaurants. It’s planned for the western edge of Astoria, at the intersection of 1st St. and 26th Ave., and is designed for consistency with Mayor Bloomberg’s PlaNYC 2030.

ALSO AROUND NEW YORK...

Executive Moves

James Raso, Robert Goodman, and Dr. Peter Kozel joined FirstService Williams. James joined as CFO; he was previously with SL Green and spent 10 years at Reckson Associates, which was acquired by SL Green. Robert joined as senior managing director of brokerage services, and was previously with Studley. Peter will serve as senior managing director of the consulting group, and was previously with Newmark Knight Frank.

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Donald Herrema joined Kennedy Wilson as executive vice chairman and CEO of its newly formed Kennedy Wilson Capital Markets division based in NYC, which opened simultaneously with his appointment. He also remains a director at TD Bank Asset Management USA Funds and Lepercq, de Neuflize and Co., as well as a senior advisor to Stone Point Capital. His career also included positions at Wells Fargo Securities, Bessemer Trust, and INVESCO. He holds degrees from Whittier College and USC.

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Vincent Lottefier joined Jones Lang LaSalle’s New York office as head of international business for the Tri-State region. He was previously the CEO of the firm’s operations in India, leading a team of more than 3k professionals in 10 offices throughout the country. He is a graduate of Cal State.

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Peter Marchetto joined Tishman Construction as president of construction operations, in the newly created office of the chairman, which oversees all of the company’s activities, with a particular focus on expanding Tishman’s share in key markets and sectors. He has more than 25 years of construction management experience in diverse market sectors.

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Tim Bennett joined Savitt Partners as managing director, working with both tenant and ownership rep brokerage teams. He was previously with Hunter Realty, where he represented clients like Situation Marketing, the Hunger Project, and the Business Journal. He is a graduate of Orange Coast College.