Contact Us
News

THE DEAL SHEET

Sales Transactions

Massey Knakal sold three properties:

  • A 5.7k-SF townhouse at 333 W. 18th St. for $2.6M cash (broker: Brock Emmetsberger)
  • Northeast Capital Partners' purchase of the 9k-SF 19-31 West Grand St. in Mt. Vernon, NY from the Estate of William S. Perper for $1.6M cash (broker: John Barrett, on behalf of the seller)
  • A 6.2k-SF office building at 310 Northern Blvd. in Great Neck, Long Island for $1.5M cash (brokers: Swain Weiner,Nalini Chugh, and Shimon Shkury)

***

NAI Friedland brokered three sales:

  • Gilic Realty's 37k-SF purchase at 42-63 3rd Ave., Bronx from SMB Building Corp. for $1.8M (broker: Ross Schneiderman)
  • Postgraduate Center for Mental Health's 7.5k-SF purchase at 867 North Crotona Pkwy., Bronx from Karim Moallemi for $1.1M (broker: Kathy Zamechansky)
  • Pyramid America's 2.3k-SF purchase at 114 Herriot St. in Yonkers for $325k (broker: Steve Kornspun).

***

Newell Funding sold a 6k-SF office building on a 12k-SF lot at 916 Old Neppehan Ave. in Yonkers for $650k. New York Commercial Realty Group's Michael Rao and Frank Rao represented the seller.

***

The circa-1927, mixed-use five-story 927 Madison Ave. sold. The building has retail space on the ground floor, the Mallett Gallery on the second, and six recently renovated, market-rate apartments on the top three floors. Prudential Douglas Elliman's Faith Hope Consolo and Joseph Aquino represented the seller and purchaser, the latter in conjunction with Judson Realty.

***

A local lender sold 123 15th St. to Soho Builders, formed by Kenny Hart and Alex Adjmi. The project was a stalled development site with 8.3k-SF buildable SF. Imperial Capital Co. represented both parties in the bank-owned transaction.

Lease Transactions

Did it name its own lease price? Priceline.com inked a 69.9k-SF HQ lease at River Park, 800 Connecticut Ave. in Norwalk, Conn. Cushman & Wakefield's Paul Kauffman represented the tenant, while CB Richard Ellis' David Block and Michael Siegel represented owner Carter & Associates.

***

Satterlee Stephens Burke & Burke signed a 15-year, 49k-SF extension at 230 Park Ave. Jones Lang LaSalle's Peter Hennessy,Martin Horner, Joseph Pollaci, and Drew Saunders repped the tenant, while Monday Properties' Jordan Berger and a CB Richard Ellis team led by Paul Amrich repped owner Monday Properties.

***

NAI Friedland's industrial division brokered two deals: Northeast Resmco Construction's two-year, 11.5k-SF lease at 2521 Butler Place, Bronx (broker: Jeff Clinton; landlord: GLC Property); and Tecogen's five-year, 5.3k-SF lease at 389 E. 3rd St. in Mt. Vernon(tenant broker: Ross Schneiderman; landlord broker: Clinton, on behalf of Seven Nation).

***

NAI Friedland's retail division brokered three deals:

  • Dollar Tree's 10-year, 10.3k-SF lease at 2721 Bronxwood Ave., Bronx for $2.5M (landlord brokers: Robin Herko, Steve Lorenzo, and David Scotto; tenant broker: SRS Real Estate Partners' David Hochberg)
  • Angel Wings' 5-year, 1.5k-SF lease at 153 E. Main St. in Mt. Kisco for $229k teenant broker: Joan Simon; landlord broker: Admiral Realty's John Gordon on behalf of Howard Kozin).
  • American Cleaners' 5-year, 900-SF lease at 1711 Crosby Ave., Bronx (brokers: Herko, Lorenzo, and Scotto).

***

New York Commercial Realty Group's Michael Rao and Frank Rao brokered three NY metro transactions on behalf of the tenants: ETI Sales Support's long-term, 5.2k-SF lease at 465 Columbus Ave. in Valhalla; Yale Realty Services Corp.'s 2.7k-SF lease at 10 King St. in While Plains; and Censtar Energy Corp.'s 1.5k-SF lease at 56 Harrison St. in New Rochelle.

***

Select Corporate Communications signed a renewal for 8.1k SF at 131 Varick St. Coldwell Banker Commercial Hunter Realty's Peter Sabesan and Wayne Siegel represented the tenant, while Lenny Lazzarino represented owner Edison Properties in-house.

***

Rosewood Hotels & Resorts is expanding into 5.7k SF at 330 Seventh Ave. for 10 years. CresaPartners' Bob Stella and Justin Halpern represented the tenant, while Newmark Knight Frank's Neil Rubin represented owner Super Nova 330.

***

The Kaufman Org.'s Elliot Warren represented two internet company leases: Paperlesspost.com's three-year, 3k-SF lease at 151 W. 25th St. (landlord broker: Deegan Management's William Jacobs); and OLX.com's three-year, 2.4k-SF renewal at 485 Seventh Ave.(landlord broker: Eretz Group's Elliot Aharonoff). The respective asking prices were $26 and $38 PSF.

***

Bare Burger inked a 10-year, 5.3k-SF lease at 535 LaGuardia Place. Newmark Knight Frank National Retail Group's Amira Yunis and Zach Winkler represented owner New York University.

***

The Hertz Corp. and Avis Rent-A-Car renewed their respective 2.6k- and 2.1k-SF leases at Metro Center in Stamford, Conn. The tenants represented themselves, while Jeffrey Newman represented owner Malkin Properties in-house.

***

Seeds of Peace signed a three-year, 2.7k-SF lease in a downsizing and relocation within 370 Lexington Ave. S. Sunshine & Associates'Suzanne Sunshine represented the tenant, while Jill Burrowes represented owner Sherwood Equities in-house.

***

Naturalizer will open its second Manhattan location with a 10-year,1.9k-SF lease at 1460 Broadway. Ripco's Andrew Mandel represented the tenant, while Winick Realty's Jeff Winick and Hal Shapiro represented owner Blackstone Group.

***

Le Pain Quotidien signed a 15.5-year, 2.5k-SF lease at 1309 Lexington Ave. Newmark Knight Frank National Retail Group's Amira Yunis and Zach Winkler represented the tenant, while Schneider & Schneider's Donna Zavattieri represented owner Lexington Towers Co.

Financing

NCB, FSB completed $20.2M in new loan originations in March, including: a $4.3M first mortgage for a 139-unit co-op at 811 Walton St., Bronx (arranged by Edward Howe III) and a $1.3M first mortgage for a 26-unit co-op at 161 E. 90th St., Manhattan (arranged by Mindy Goldstein).

***

CB Richard Ellis' Keith Braddish, Jason Gaccione, Rayna Karaivonov, Jim Gunning, and Donna Falzarano secured a $11.5M fixed-rate first mortgage refinance of 16 and 33 Bleeker St. in Millburn, NJ. The deal was arranged on behalf of Elie Tahari Ltd. The 5-year floating-rate first mortgage was swapped to a 5.47% fixed-rate coupon, and the 60% refinancing package was provided by a large commercial bank.

***

Imperial Capital Co.'s Andy Nemeroff and Stephen Nemeroff arranged two ten-year, fixed-rate, fully non-recourse commercial leasehold first mortgage loans on behalf of a partnership between Alex Adjmi and Robert Cayre. Both 1381 Sixth Ave. and 591-593 Broadway's loans were placed with a local savings and loan.

Construction & Development

Jarmel Kizel Architects and Engineers completed the re-design of a 50k-SF flex building occupied by The Schundler Co. at 150 Whitman Ave. in Edison, NJ. The building experienced a fire in '09 that left the site and building in a state of disrepair. The construction manager is Pantheon Construction.

Executive Moves

Mitchell Kiffe joined CB Richard Ellis as senior managing director and to head its Agency/FHA Production group, responsible for driving production in CBRE's Freddie Mac, Fannie Mae, and FHA product lines. He was previously with Freddie Mac, GMAC Mortgage Co., and was an attorney specializing in commercial real estate. He is a graduate of the University of Minnesota and Gustavus Adolphus College.

***

Clyde McGraw joined Massey Knakal as associate, working with VP of sales Robert Burton on SoHo, NoLita, and Chinatown.He was previously with National Legacy Group, and is a graduate of the University of Vermont.

***

Gail Goldberg joined J. Tucci Construction Corp. as VP, where she will work on the firm's growth, expansion, and brand. She was previously with Gale Woodworking and Launch Solutions. She is a graduate of Boston University and Columbia University's Teachers College.

WASHINGTON DC 09.14.2017

7TH ANNUAL FUTURE OF PRINCE GEORGE'S COUNTY

Exclusive Bisnow Cocktail Hour to Follow Panels!

Jane Cafritz
Calvin Cafritz Enterprises
Steve Schwat
Urban Investment Partners (UIP)
Nina Albert
Washington Metropolitan Area Transit Authority (WMATA)