THE DEAL SHEET
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| Sales Transactions Massey Knakal sold two buildings: an 8.3k-SF four-story walk-up at 111 4th Place in Carroll Gardens, Brooklyn for $2.4M cash (brokers:Ken Freeman and Joseph Sitt); and the third floor of a commercial condominium at 137 W. 25th St. to a not-for-profit end user for $2M(brokers: Robert Burton and Brock Emmetsberger).*** The Gilbert family sold its four-story decontrolled walk-up building at 979 Second Ave. to 979 2nd Avenue LLC for $3M. It is 5.2k SF with 8.8k SF of air rights, and is completely renovated. Eastern Consolidated's Ety Lee repped the seller and procured the buyer. *** Ferro, Kuba, Mangano, Sklyar PC purchased a 7k-SF office building a 835 Veterans Memorial Hwy. in Hauppauge, Long Island, from Fairfield Properties for $1.8M. Newmark Knight Frank's Robert Donovan represented the seller, while David Berger represented Fairfield in-house. Lease Transactions L.A. Enterprises signed a 372k-SF lease at Alovats North, 1 Costo Way in Monroe Twp., NJ. in an expansion move. NAI Farbman's Douglas Fura and Alliance Real Estate Group's Raymond Musalo represented the tenant, while Cushman & Wakefield's Stan Danzig,Jules Nissim, Noah Balanoff, Frank Caccavo, and Jason Goldman represented owner Principal Real Estate Investors. *** University Support Services signed a 13-year, 50k-SF lease at Sunrise Business Center in Great River, Long Island. Newmark Knight Frank's Eric Launer and Dan Oliver represented the tenant, while CB Richard Ellis' Eric Englander represented owner Metropolitan Realty Associates. *** Bridge Financial Group, an office of MetLife, inked a 30k-SF lease at Corporate Commons Two, West Shore Expressway and I-278 in Staten Island. The owner is The Nicotra Group. *** Avon Products signed a 22k-SF lease at Westchester One in White Plains. The building is leased by Cushman & Wakefield's Josh Kuriloff, Greg Frisoli, and Diani Biasotti on behalf of the owner, an affiliate of Beacon Capital Partners. *** Bluefly inked an 11-year, 18.3k-SF renewal at 42 W. 39th St. Adams & Co.'s David Levy and Jeffrey Schwartz represented both the owner and tenant. *** Planet Fitness signed a 20-year, 15.3k-SF lease at Canarsie Plaza, 856-858 Remsen Ave., Brooklyn, which is being developed by Acadia Realty Trust and P/A Associates. Arch Brokerage's Laurence Roberts and Franchise Realty's Raymond Vilfana represented the tenant, while P/A's Stephen Cassella and Acadia's Michael Dobeck represented the owners in-house. *** Bank of America inked a 15k-SF lease at 14 Wall Street, following other new leases from LCH Clearnet Group, Lotus Clean Energy, Almanac Capital, and Sterling Trader. CB Richard Ellis represented the owners, Capstone Equities and The Carlyle Group. *** Sharp Entertainment signed a 10-year, 14k-SF lease at 1071 Avenue of the Americas. Century 21 NY Metro's Chris Salizonni represented the tenant, while Adams & Co.'s David Levy and Jeffrey Schwartz represented the owner. Although the deal details were undisclosed, the asking rent was $38 PSF. *** The Hurricane Club, a new restaurant set to open in September, signed a long-term, 13k-SF lease at 360 Park Ave. Robert K. Futterman & Associates' Robert Draizen and Spencer Levy represented the tenant, while Cushman & Wakefield's David Tricarico and Devon McBride represented the owner. *** Enzo Biochem expanded its NYC HQ by signing a new long-term,11.3k-SF lease at 527 Madison Ave. Studley's Greg Taubin represented the tenant, while Cassidy Turley's Jim Frederick and Peter Occhi represented the owner. *** JPMorgan Chase inked a 15-year, 11.2k-SF lease at 530 Fifth Ave. for a full-service bank branch, office, and vault space. It is returning to this location after it vacated the space in '08 during the merger with Bank of New York. Cushman & Wakefield's David Green repped the tenant, while Winick Realty Group's Jeff Winick, Lori Shabtai, and Darrell Rubens represented owner Moinian Group. *** Molod Spitz & DeSantis signed a 12.5k-SF lease at 1430 Broadway. Studley's Evan Margolin represented the tenant, while Newmark Knight Frank's Ken Kronstadt and Rick Kramer represented the owner. *** The Goris family signed a 11k-SF lease in the ground-floor retail of the Toren condominium in Downtown Brooklyn. The space will be used for a yet-to-be-named upscale, eco-friendly supermarket that will open in fall ‘10. The Goris family and Co-Op Branding will develop the brand, and the interior design and planning will be done by Deborah English. Toren's owner/developer is BFC Partners. *** Olympus Partners extended its 10k-SF lease at Metro Center in Stamford until '15. The tenant represented itself, while Jeffrey Newman represented owner Malkin Properties in-house. *** 1407 Broadway saw six transactions:
*** Ideal Properties brokered six Brooklyn deals:
*** The office of Congressman Jose E. Serrano inked a 4.4k-SF turnkey lease at The BankNote, 890 Garrison Ave. in the Bronx. It will be the anchor tenant in the building's new pre-built office program, which has office suites ranging from 1k-5k SF. Paul Wolf and Stephen Powers represented owner Denham Wolf Real Estate Services in-house. Although deal details were undisclosed, the asking rents were $27 PSF. *** The Musmanno Group's Elizabeth Musmanno leased 1.1k SF at 229 E. 60th St. Sierra Realty Corp.'s Jeffrey Anderson and Barry Sanet repped both the tenant and owner, Marianne Johnson Gill. *** Prudential Douglas Elliman's Faith Hope Consolo and Joseph Aquino brokered two retail leases: Pinkyotto's lease at 330 Bleecker St. for its sixth location (landlord rep: Zelnick & Co.); and DeLaneau's flagship lease at 681 Madison Ave. Financing Cushman & Wakefield Sonnenblick Goldman arranged a $35M first-mortgage financing for 1385 Broadway on behalf of an affiliate of Bloomingdale Properties. The 10-year loan was provided by a commercial bank. *** The NJ office of Holliday Fenoglio Fowler has arranged $11.3M in debt and equity financing for the acquisition, redevelopment, and repositioning of the former Saint Barnabas Union Hospital in Union, NJ, which closed in '07. The firm's Tony Cuccia and Michael Lachs worked on behalf of Hillcrest Development and Management Corp.'s Andrew Piscatelli to secure the adjustable-rate, first mortgage loan through Columbia Bank and the private JV equity, provided by an affiliate of Mainardi Management. Loan proceeds will be used to reposition the property into Union Medical Park. *** The NJ office of HFF also arranged another $11.3M refinancing for Hackettstown Commerce Center, a 201k-SF industrial/flex facility in Hackettstown, NJ. The firm's Jon Mikula and Michael Klein placed the five-year, fixed-rate loan through M&T Bank on behalf of owner The Hampshire Cos. *** CBRE's Efrat Sharon, of the Capital Markets Debt & Equity Finance Group, arranged a $10M permanent financing for the acquisition of the 35.2k-SF portfolio in the Fire Island Pines, which we reported in the March 29 Deal Sheet. The deal features a 36-month, 9% interest-only loan, provided by a local lender, at 60% LTV. Construction & Development Leewood Real Estate Group and Victory Fielder Housing Development Fund Co. announced plans for a six-story low-income housing development that will provide 39 units for seniors in St. George, Staten Island. Construction will begin this month for spring '11 occupancy. Funding was made possible through a special grant from Staten Island borough president James Molinaro and Federal Low Income Housing Credits, with WNC & Associates as the Low Income Tax Credit Equity Investor. NYC Department of Housing Preservation & Development Section 8 will also apply, and Northfield Bank will provide construction financing. *** The Suffolk County Environmental Center at Scully Estate opened in Islip, Long Island. The center will serve as the county's flagship nature center and gateway to the county's park system, operated by Seatuck Environmental Association. It's currently undergoing certification for LEED-CS Gold. Peter Caradonna Architecture and Planning designed the project and Stalco Construction served as general contractor for the final $723k phase of the $3M conversion project. Business Colliers International made the final step of launching its new global brand after combining with FirstService Real Estate Advisors earlier this year. Included in the new branding are FirstService REA,FirstService Williams, FirstService PGP Valuation and PKF Capital – Hotel Brokerage Services, which are now collectively known as Colliers International. Executive Moves Louis Novick joined Newmark Knight Frank Retail as senior managing director, with more than 20 years of experience in tenant and landlord representation in the Tri-State for developers like Forest City Ratner and Vornado, and retailers like LVMH, American Eagle Outfitters, and J Crew. *** Jeff Weidenborner joined Jones Lang LaSalle's New York office as managing director, responsible for broadening the firm's client base throughout the Tri-State. He was previously in JLL's China office, and was also the founder of Sienna Commercial Qingdao Realty Advisors and worked for Cushman & Wakefield. He is a graduate of Roanoke College. *** Patrick Gardner, Howard Poretsky, and Richard Sykes joined Studley, with Patrick and Howard based out of Midtown and Richard out of London. The team was previously with Cassidy Turley, where they represented international banks, law firms, non-profits, and media companies. Patrick and Richard worked together for more than 25 years, and Howard joined the team in '08. *** Angela Sung joined REBNY as SVP of management services and government affairs, responsible for the commercial and residential management division and all related issues, including building code and real property regulatory issues. Angela, who is the former deputy chief of staff to NYC Deputy Mayor of Economic Development Robert Lieber, is replacing Marolyn Davenport, who is retiring from the position after more than 26 years. She is a graduate of Johns Hopkins and NYU. *** Jonata Dayan was promoted to SVP at Winoker Realty. She is the exclusive lease agent for 320 Fifth Ave., and specializes in both tenant and owner representation for the fashion, accessories, and home textiles markets. She launched the firm's office condominium and co-op division in '05. *** Adam Glickman joined the Moonachie, NJ office of Greiner-Maltz as SVP, where he will specialize in industrial and commercial real estate in Essex, Hudson, Union, Passaic, Middlesex, and Bergen Counties. *** Yvonne Chang joined The Kaufman Org. as associate broker, focusing on tenant and landlord representation. She was previously with EastWest Holdings International and St. John's University, where she was a graduate. |
