THE DEAL SHEET
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| Sales Transactions FIP Ventures—a JV of Blesso Properties’ Matthew Blesso, The Madison Fire Island Pines owner Andrew Kirtzman, and Weissman Equities’ Seth Weissman—puchased the vast majority of commercial property and establishments in the Fire Island Pines for $17M. The assets include the Pavilion nightclub, the Blue Whale and Bay Bar restaurants, the Hotel Ciel, a grocery store, gym, clothing store, and other retail and residential properties. They plan to leave major Pines institutions untouched, but plan a complete renovation of the hotel this fall for a May ’11 opening, and will make physical and technical improvements to the Pavilion.*** Massey Knakal sold four properties: a development site at 74-21 Queens Blvd. in Elmhurst, Queens for $3.6M cash (broker: Tom Donovan); a 9.6k-SF retail strip at 342-360 Hempstead Turnpike in West Hempstead, Long Island for $2.5M cash (brokers: Nalini Chugh and Lev Kimyagarov); a 9.9k-SF apartment building at 276 Throop St. in Bedford-Stuy, Brooklyn for $1.7M cash (broker:Michael Amirkhanian); and a parking lot and development site with 19k buildable SF at 65 Audubon Ave., Washington Heights for $1M cash (broker: Robert Shapiro). Lease Transactions The William F. Connors Agency’s William Connors III repped the tenant and owner in three NJ transactions: Rodriguez Glass’ 14k-SF lease at 4501 Dell Ave. in North Bergen; Antonio Restaurant Supply’s 14k-SF lease at 815 Fairview Ave. in Fairview; and ERG Distributors’ 12.7k-SF lease at 66 Grant Ave. in Carteret. *** 1330 Avenue of the Americas saw three deals: Allianz Risk Transfer’s 10-year, 10k-SF lease (tenant rep: CB Richard Ellis’ John Maher); The Belstar Group’s 10-year, 8.5k-SF lease (tenant rep: CBRE’s Keith Caggiano and Roshan Shah); and Servcorp’s 10-year, 6.4k-SF lease (tenant rep: CBRE’s Eric Yarbro). Owner CWCapital Asset Management was represented by Jones Lang LaSalle’s Frank Doyle, Cynthia Wasserberger, David Kleiner, and Alexis Tener in all three deals. *** Saudi Petroleum International inked a 10-year, 13.9k-SF renewal for its HQ at 527 Madison Ave. CBRE’s Richard Charles and Howard Fiddle repped the tenant, while Cassidy Turley’s Jim Frederick and Peter Occhi repped owner Mitsui Fudosan America. *** Dollar Tree signed a 9.9k-SF lease at 176 North Main St. in Florida, NY. NAI Friedland’s Rick Stassa and Trinity Retail Group’s Andrew Peckage negotiated the deal. *** Rizzo Group inked a 9k-SF lease at 1333 Broadway, and plans to move from its current 11 Penn Plaza offices at the end of the year. Newmark Knight Frank’s Billy Cohen and Steve Renbaum represented the tenant, while NKF’s Brian Waterman, Jonathan Fanuzzi, and Brandl Frey represented owner W&H Properties. *** Milan Luxury signed a 10-year, 4.6k-SF lease at 482 Broome St., replacing its temporary flagship outlet at 57 Greene St. Newmark Knight Frank’s Amira Yunis and Lyle Trued represented the tenant, while Rudd Realty’s Michelle Ball represented owner T.F. Halom. *** Bolton-St. Johns extended its 4.4k-SF lease at 110 William St. Newmark Knight Frank’s Robin Fisher represented the tenant, while Todd Korren represented owner Swig Equities in-house. *** Montecito Advisors signed a 3-year, 3.2k-SF lease at 5 Hanover Square. Owner Swig Equities was represented in-house by Todd Korren. *** Massage Envy signed a long-term lease for 2.6k SF at Playhouse Square, 275 Post Rd. East in Westport, Conn. RHYS Commercial’s Jason Wuchiski was the sole broker in the transaction. This will be the company’s sixth clinic in Connecticut and the third in Fairfield County. Financing CB Richard Ellis’ Capital Markets Debt & Equity Finance group arranged a $38M, short-term fixed-rate mortgage loan for the 421k-SF Metropolitan Center at 1 Meadowlands Plaza in East Rutherford, NJ. The team of CBRE NJ’s Jim Gunning and Donna Falzarano and CBRE Chicago’s John Clifford and Keith Huizinga represented borrower Strategic Partners U.S. Value V, and Northwestern Mutual Life acted as lender. *** Holliday Fenoglio Fowler’s NJ office secured a $5.1M refinancing for a 63.8k-SF self-storage facility at 320-324 Elizabeth Ave. in Newark. The firm’s Jon Mikula and Michael Klein worked on behalf of borrower The Hampshire Cos. to secure the three-year, fixed-rate loan through TD Bank. Construction & Development LCOR opened its 142-unit 34 Berry Street rental development at the corner of North 12th and Berry Streets in North Williamsburg, Brooklyn. The building consists of studios and one- and two-bedroom apartments, and is being marketed by Rose Associates. Business Platinum Properties opened a new office in Midtown East at 295 Madison Ave., adding to its corporate HQ at 30 Wall St. and international office at 101 Avenue des Champs Elysées in Paris, France. The firm says its sees a growing demand from clients for luxury rentals and sales in Midtown and the Upper East Side. The new office houses 10 agents and its led by Don Dascoli, its new director of sales and leasing. Executive Moves Glenn Brill joined FTI Schonbraun McCann Group as managing director in the firm’s real estate advisory group, responsible for corporate real estate and financial planning, development and asset advisory work, and large-scale mixed-use redevelopment projects. He was previously a private real estate consultant, and has held positions with Cherokee Investment Partners, Ernst & Young, and Marcus & Millichap. He is a graduate of SUNY New Paltz. *** Brendan McBride joined Newmark Knight Frank’s Rutherford, NJ office as director, providing tenant and landlord rep services for clients like TA Associates Realty and Ivy Equities. He was previously with CB Richard Ellis, and is a graduate of Holy Cross. *** Brian Jenkins joined Savills US as SVP in the firm’s medical real estate team. He was previously with the National Electrical Benefit Fund, and was also a health care lawyer for McGuire Woods. He is a graduate of the College of William and Mary, the University of Richmond, and the Medical College of Virgina-VCU. *** Nicolas DAlessandro joined Donnelly Sustainable Energy Services, a division of Donnelly Mechanical, as VP. He was previously a member of the construction tax planning practice at KPMG. *** Marcus & Millichap promoted JD Parker to regional manager of the Manhattan and New Haven offices. He served as the regional manager of the Brooklyn office since ’07, a position he will continue to hold in addition to his new duties. He’s been with the firm since ’04 and is a graduate of Penn State. |
