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THE DEAL SHEET

New York

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Guttman Realty submitted the winning bid in the bankruptcy auction of two Caritas Healthcare properties in Queens for $26.6M. The properties are Mary Immaculate Hospital’s four-acre campus in Jamaica and St. John’s Queens Hospital’s two-acre property in Elmhurst. CBRE’s Larry Weiss, David Zelinski, Philip Heilpern, and Richard Karson repped the seller and procured the bidders. Proskauer Rose’s Jeffrey Levitan, Rick Zall, Adam Berkowitz, and Chris Pennington also repped the seller on the legal side.

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Marcus & Millichap sold a 24-unit apartment property at 55 Morris St. in Hartford, CT for $1M. The firm’s Eric Pentore, Victor Nolletti, and Steve Witten represented the seller, while Eric and Adam Mancinone represented the buyer.

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C.W. Brown purchased a 44k-SF industrial/flex facility at 1 Labriola Ct. in Armonk, NY. NAI James E. Hanson’s Thomas Vetter and Jeffrey DeMagistris represented the owner, Coining Inc.

Lease Transactions

Savvis inked a data center expansion totaling 209k-SF at Lincoln Harbor in Weehawken, NJ, believed to be the largest tech deal this year in the Tri-State. The transaction included one direct lease and two subleases; initial plans call for 35k SF of raised floor expected to be completed by 2Q10, with phased expansion for an additional 70k SF of raised floor. CresaPartners represented the tenant, while owner Hartz Mountain Industries represented itself.

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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo renewed its 85k-SF lease at 666 Third Ave. until ’22. Included are two options for renewals and options for expansion. Newmark Knight Frank brokered the deal; Tishman Speyer is the owner.

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Solix relocated to 56k SF at 30 Lanidex Plaza in Parsippany, NJ, consolidating two operations from Whippany. Cushman & Wakefield’s Peter Hamburger, Robert Rudin, Walter Schoenberg, Harlan Hollander, and Jan Randall represented the tenant, while Jones Lang LaSalle’s Susan Mason represented owner Ivy Equities.

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Midland Business Park in Port Chester, NY saw two deals:ProSwing’s 10-year, 25.2k-SF lease at 36 Midland Ave. (tenant broker: Goldschmidt & Associates’ Gene Pepe) and National Collector’s Mint’s five-year, 7.3k-SF lease at 8 Slater St. CB Richard Ellis’ William Cuddy and Kevin Langtry represented the owner, Lighthouse Real Estate, in both transactions.

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One Grand Central Place saw two new leases: Pine Brook Road Partners’ 17.6k-SF lease (tenant brokers: Grubb & Ellis’ Larry Zuckerman and Dan Gronich); and Vandenberg Feliu’s 13k-SF lease (tenant broker: Signature Partners’ Robert Frost and Andrew Weiss). Newmark Knight Frank’s William Cohen, Ryan Kass, and Alison Coffey brokered the deals on behalf of owner W&H Properties, which included negotiating with existing tenants to buy out lease obligations.

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APF Properties signed 25k SF in leases for three of its six Midtown office buildings, including the following, which were all brokered by Newmark Knight Frank’s Brian Waterman, Howard Kesseler, and Jordan Gosin on the ownership side:

  • Rochdale Securities and Trivision signed leases at 25 W. 45th St. CB Richard Ellis’ Harley Stevens and Anil Chandra represented Rochdale, while Kulrand Realty’s Christina Kaminga and Alan Galloway represented Trivision.
  • RJL Resources signed a new lease and Brand Brand Nomberg & Rosenbaum renewed at 286 Madison Ave. Williamson Picket Gross’ William Carr represented RJL, while Cushman & Wakefield’s Josh Goldman represented Brand Brand.

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Adams & Co. brokered 21.2k SF of fashion deals:

  • Celebrity International’s 10-year, 10.7k-SF lease at 10 W. 33rd St. (tenant broker: Benchmark Properties’ Michael Beyda; landlord broker: Adams’ David Levy);
  • High Fashion Fabrics’ five-year, 2.7k-SF lease at 39 W. 38th St. (tenant broker: Adams’ Joseph Friedman; landlord broker: Eretz Group’s Alan Kahn);
  • Super Textiles’ five-year, 5.8k-SF lease at 226 W. 37th St. (tenant broker: Friedman; landlord broker: Adams’ Brett Maslin);
  • That Fashion Look’s five-year, 913-SF lease at 231 W. 39th St. (tenant broker: ID Real Estate Partners’ Richard Price;
    landlord brokers: Adams’ James Buslik and Jeffrey Buslik);
  • Bit of Honey’s five-year, 1k-SF lease at 34 W. 33rd St. (brokers: Levy and Maslin)

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Four tenants renewed and expanded leases at Merritt 7 Corporate Park in Norwalk, Conn.: CulinArt (8k SF); Cronus Partners (3kSF; tenant broker: Cushman & Wakefield’s Jonathan Nathanson);Canon Business Solutions (2.2k SF); and M-Real USA’s five-year, 6.8k-SF lease (broker: C&W’s Steve Baker). Albert D. Phelps Inc. is the managing and leasing agent.

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Assent inked a five-year, five-month 18.9k-SF lease at 59 Maiden Lane, where it will move in January. FirstService Williams’ Harry Blair and Greg Wang represented the tenant, while Newmark Knight Frank’s Brian Waterman represented owner Amtrust Realty Corp.

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55 Broadway saw 17k SF of new deals. Daniel Blanco, David Israni, and Ramona Huegel represented owner Broad Street Development in-house for all transactions:

  • Galen Technology Solutions’ 5.5k-SF lease (tenant brokers: Newmark Knight Frank’s Adam Leshowitz and John Moran);
  • Hannum, Feretic, Prendergast & Merlino’s 5k-SF lease (tenant broker: Jones Lang LaSalle’s Dan Suozzi);
  • The Willdan Group’s 3k-SF lease (tenant broker: JLL’s Robert Corbi);
  • Sale & Pepe’s 2.7k-SF renewal

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AMCS Corp. inked a long-term, 13.1k-SF lease at Bedminster One, 135 Routes 202/206 in Bedminster, NJ. Grubb & Ellis’ John Kuhn represented the tenant, while FirstService Williams’ Jamie Drummond represented the owner.

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The Gallery at 400 Columbus Ave. and The Observatory at 465 Columbus Ave. in Valhalla, NY, saw 13k SF of new leases. CB Richard Ellis’ William Cuddy and Kevin McCarthy represented owner Abby Road Advisors in all transactions: Sleep Services of America’s five year, 4.5k-SF lease at The Observatory; and David J. Yvar Group’s 1.6k-SF lease; USB Media’s 800-SF lease; VR Turbo’s 2.6k-SF lease, Rev2’s 2.8k-SF lease, and Mim Labs’ 1.4k-SF lease, all at The Gallery.

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Design for All inked a seven-year, 7.5k-SF lease at 240 W. 37th St. The Kaufman Org.’s Howard Rosenblum and Grant Greenspan represented the tenant, while CB Richard Ellis’ Joseph Mangiacotti represented the landlord. Although terms were not disclosed, the asking price was $33 PSF.

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Pine River Capital Management subleased 7.3k SF from BlueBay Asset Management for six years at 590 Madison Ave. CresaPartners’ Ed Wartels represented the sublessee, while Jones Lang LaSalle’s Andrew Flint represented the sublandlord.

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Zilli signed a five-year, 5k-SF lease for its first U.S. showroom at 595 Madison Ave. Cushman & Wakefield’s Danielle Zimbaro and David Berke represented the tenant, while Ronald LoRusso represented owner Vornado in-house.

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Savvy Fashion Handbags signed a 10-year, 4.4k-SF lease at 132 W. 31st St.’s Penn Tower. Prime Manhattan’s William McCollum represented the tenant, while Sierra Realty Corp.’s Peter Braus and Peter Levitan represented the owner, C&K Properties.

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Seize sur Vingt inked a 4k-SF deal for its new flagship store at 78 Greene St. Robert K. Futterman’s Robin Zendell and Stefany DiManno represented the tenant, while Lansco's Yair Staav represented the owner.

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DeJaneiro leased 3k SF at 110 Church St., where it will move in winter ’10. Robert K. Futterman’s Greg Covey represented the tenant, while RKF’s Ariel Schuster and Brett Weinblatt, formerly of RKF, represented owner The Worldwide Group.

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H&R Block inked a 1.9k-SF lease at 5 Hanover Square. Esquire Properties’ Robert Hantgan and Colliers Corporate Solutions’ Eric Abernathy represented the tenant, while Helmsley Spear’s Mel Zimmerman and Andrew Puleo joined in-house broker Todd Korren to represent owner Swig Equities.

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Dina’s Bagels signed a 1.1k-SF lease at 154 Washington Ave. in Nutley, NJ. NAI James E. Hanson’s Michael Jamgotchian represented the landlord, Felicia Stafford of G&F Realty.

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Williamson Dickies and Gildan inked leases at 1400 Broadway. Jack Terzi Real Estate’s Jack Terzi represented Dickies, while Newmark Knight Frank’s Brandl Frey represented Gildan. NKF’s Brian Waterman, Jonathan Fanuzzi, and Michael Frantz represented the owner, W&H Properties.

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Subway signed a long-term lease to occupy part of the Zeckendorf Tower’s 58k-SF retail condo, adjacent to Bravo Pizza and Chipotle on the north side of 14th St. Winick Realty’s Cosmo Montemurro represented the tenant, while Fred Posniak represented landlord Malkin Properties in-house.

Financing

The Community Preservation Corp. closed on a $2.2M permanent loan to refinance a newly constructed three-story rental building at 315 Foster Ave. in Parkville, Brooklyn. The building’s owner is Fedor Itzkowitz.

Construction & Development

112 West 34th Street’s $80M capital improvement program completed, whose top-to-bottom upgrade include a new sleek glass curtain wall, a renovated stone and marble lobby, new entryways, renovated restrooms and public corridors, and upgraded building systems. W&H Properties is the owner.

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GreenbergFarrow finished the renovation and expansion of the 52-acre Bergen Town Center in Paramus, NJ on behalf of owner Vornado. The center, which includes stores like Century 21 and Filene’s Basement, was expanded by 143k SF to a total 1.5M SF. Changes included a façade replacement, new entrance courts, a new double-height concourse with additional skylight areas, and various storefront improvements. Renovations commenced in ’06.

Business

FTI Consulting and The Schonbraun McCann Group joined Compass Advisers to form boutique investment bank EdgeRock Realty Advisors. EdgeRock will advise global real estate companies, owners, and institutional investors on M&A and divestiture transactions, private capital raising, and IPO and other capital markets strategies and transactions, while also giving clients access to FTI’s restructuring and real estate capital markets advisory expertise. Co-CEOs are Bruce Schonbraun and Compass’ Stephen Waters, and David Lazarus, formerly of Lehman Brothers, has been appointed senior managing director.

Exec Moves

Studley promoted Joseph Messina and Gregg Najarian to senior managing directors of the firm’s Hackensack, NJ office. Joseph joined the firm in ’97, and has advised clients like Willis Group Holdings, The Louis Berger Group, and Cognizant Technology Solutions on complex financial structuring and strategies. He is a Harvard graduate. Gregg joined in ’04 when Strategic Alliance Partners joined forces with Studley, and has repped both Fortune 500 and small firms. He is a graduate of the University of Hartford.

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Barry Berkowitz joined Newmark Knight Frank Capital Group to specialize in capital markets and investments. Previously, he was principal of Beta 2 Fund, a buy-side fund that acquired properties nationally. He also held positions at The Carlton Group and Eastern Consolidated. He is a graduate of Cornell and Syracuse.

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Robert Black joined Grubb & Ellis’ Edison, NJ office as VP of the office group. He was previously principal and COO of Black & Co., and also held positions at CB Richard Ellis and Cushman & Wakefield. He is a graduate of Rutgers.

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CresaPartners appointed Richard Charkham SVP of its New York office. Previously, he practiced law in England and Israel, and has experience advising corporate tenants, particularly subsidiaries of overseas companies, on the acquisition and disposition of their real estate in NY, the US, and globally.

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Michael Sanchirico joined MKDA as senior project manager. Most recently, he was with Esposito Design Associates, and also held positions at The Van Summern Group, Lancaster Associates, and D'Amato Construction. He is a graduate of Capital Community College and the Catholic University of America.

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Cristina Allen also joined MKDA as SVP of marketing and business development. She was previously with Rubenstein Associates and held a position at Publitas. She is a graduate of the University of Florida.

Related Topics: JLL, Newmark Grubb Knight Frank, Peter Braus, The Carlton Group, Brian Waterman, APF Properties, David Lazarus, Catholic University, AmTrust Realty Corp, Broad Street Development, Andrew Flint, Jack Terzi, Swig Equities, James Buslik, Ryan Kass, Todd Korren, Grant Greenspan, Sierra Realty Corp, Brett Maslin, Jeffrey Buslik, One Grand Central Place, Ariel Schuster, Hanover Square, Harry Blair, Joseph Friedman, Brandl Frey, Hartz Mountain Industries, Jonathan Fanuzzi, Greg Covey, The Gallery, 5 Hanover Square, Adam Leshowitz, Proskauer Rose, The Schonbraun McCann Group, David Berke, Peter Levitan, Kevin Langtry, Jamie Drummond, Helmsley Spear, Michael Frantz, Ivy Equities, William Cuddy, Alison Coffey, Michael Beyda, Fred Posniak, Howard Rosenblum, Benchmark Properties, David Israni, Port Chester, Corporate Park, Robert Rudin, Steve Baker, Jeffrey DeMagistris, Richard Karson, Joseph Messina, Ed Wartels, Kevin McCarthy, William Cohen, ID Real Estate Partners, Peter Hamburger, Walter Schoenberg, Thomas Vetter, Greg Wang, Esquire Properties, 7 Corporate Park, Joseph Mangiacotti, Howard Kesseler, Jordan Gosin, Rubenstein Associates, Steve Witten, Eretz Group, Philip Heilpern, Daniel Blanco, Exec MovesStudley, Michael Jamgotchian, Josh Goldman, Dan Gronich, Gregg Najarian, Robert Corbi, Signature Partners, Williamson Picket Gross, Victor Nolletti, David Zelinski, The Observatory, Bergen Town Center, Larry Weiss, Robert Frost, Lighthouse Real Estate, Dan Suozzi, Canon Business Solutions, Bedminster One, Danielle Zimbaro, Larry Zuckerman, The Louis Berger Group, John Kuhn, The Worldwide Group, Willis Group Holdings, Richard Price, John Moran, Stephen Waters, Compass Advisers, William McCollum, Andrew Weiss, Brett Weinblatt, Robert Black, Pine River Capital Management, Jan Randall, Prime Manhattan, Susan Mason, Michael Sanchirico, Capital Community College, Mel Zimmerman, EdgeRock Realty Advisors, Bruce Schonbraun, Robert Hantgan, Adam Mancinone, Sleep Services