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THE DEAL SHEET

New York

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THE DEAL SHEET
SALES
991 Third Ave, New York, NY
Massey Knakal’s Bob Knakal and Robert Shapiro brokered the sale of 3421 Broadway, 610 W 157th St, 3851 Broadway, 559 W 164th St, 4141 Broadway, 4151 Broadway, and 4180 Broadway for $62M. Bob, along with Brian Sarath, also brokered the five-building multifamily sale of 191-11 Woodhull Ave and 91-59 191st St, Hollis and 148-88 88th Ave, 88-09 148th St, and 88-25 148th St, Jamaica for $38.5M. Lastly, Bob, along with Clint Olsen, brokered the sale of the three-story 991 Third Ave (pictured, NNN leased to Capital One) for $18.4M.***Savanna acquired the 150k SF commercial condo at 15 E 26th St for a reported $57M. The new owners plan $9M in capital improvements, including redesign of the entrance and lobby, a façade upgrade, common corridor and bathroom renovations, and replacement of windows. It tapped JLL’s Mitch Konsker, Matthew Astrachan, and Matthew Polhemus to lead the leasing team.

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JMC Holdings and RWN Real Estate Partners purchased 156-168 Bleecker St, a 27k SF retail condo, for $30.6M in an off-market transaction. JMC plans a $1.8M in capital improvements to renew and reposition the eastern and western corner units.

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500 Post Rd E, Westport, Conn
Fred F. French Investing purchased the 38k SF 500 Post Rd E, Westport, Conn. from Lemle Westport for $9M. The building is leased to TEREX Corp. CBRE’s Jeffrey Dunne, Steven Bardsley, and David Gavin brokered the deal.***Massey Knakal also brokered the sale of the 11k SF multifamily building at 256 W 15th St for $6.1M cash (broker: Brock Emmetsberger) and the $2.5M cash sale of a development site at West 231st Street and Irwin Avenue, the Bronx (brokers: James Nelson and Karl Brumback).

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Marcus & Millichap’s Peter Von Der Ahe, Joe Koicim, and David Lloyd repped a retiring local owner in the sale of the six-unit apartment building at 170 E 75th St for $5.1M. The buyer plans to convert the building into a single-family residence. The firm’s Naomi Shu also brokered the sale of a 4,700 SF retail property at 162-25 Liberty Ave, Jamaica for $3.1M.

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A & L 1494 LLC purchased the 7,800 SF 1494 Second Ave, a five-story walk-up apartment building that houses Lusardi’s restaurant, from Icon Realty Management for $7.9M. Rosewood Realty Group’s David Berger repped the buyer, while Rosewood’s Aaron Jungreis repped the seller.

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KAT Realty purchased the 25k SF, four-story walk-up apartment building at 108-28 38th St, Corona from Canary Holding for $3.9M cash. Falco & Isak Realty Services’ John Falco brokered the deal.

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3001 Expressway Dr N, Islandia, Long Island
Damianos Realty Group purchased the 40k SF 3001 Expressway Dr N, Islandia, Long Island from Spencer Savings Bank for $3.9M. The building was acquired by the bank through a foreclosure proceeding against RJP Realty Co. Mancini Architecture and Innersite Interior Design will redesign the building’s exterior and lobby; ownership also plans a new roof, replacement of mechanical equipment, and landscaping and parking upgrades.***

TerraCRG brokered the sales of four Brooklyn Properties: the seven-unit rental building at 90 Clermont Ave, Fort Greene, for $2.6M; a 25’x100’ R6 development site at 97 Lynch St, Williamsburg for $163/BSF; a development site at 683 4th Ave, South Slope with plans for a 15k SF residential building for $88/BSF; and a development site with 6,000 BSF at 323-325 20th St, South Slope for $78/BSF.

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Gozzer Corp purchased the 5,000 SF 26-12 4th St, Astoria for $1M. Kalmon Dolgin Affiliates’ Gary Mayzlin brokered the deal.

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A Cushman & Wakefield team lead by Robert Lowe and Michael Rotchford with Ed Donnery, David Heller, Helen Hwang, and Anthony Pasqual, repped the Federal Reserve Bank of NY in the previously reported $208M acquisition of 33 Maiden Ln.

LEASES

The Kaufman Org’s Michael Heaner brokered four deals: Lana Fashionwear’s 13k SF lease at 240 W 37th St (landlord rep: CBRE’s Joseph Mangiacotti); Housing Partnership Development Corp’s 6,700 SF lease at 242 W 36th St (landlord rep: Kaufman’s Barbara Raskob); Insight Strategy Advisers’ 6,100 SF lease at 450 Seventh Ave (landlord rep: Raskob); and The Brooks Group Associates’ 2,600 SF lease at 8-10 W 37th St (landlord rep: Mangiacotti).

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Lee & Associates NYC inked a 47-month, 23k SF sublease at 600 Madison Ave for its HQ. The office soon plans to add 10 new, high-profile retail and office leasing brokers and needed additional space. The office will also serve as home to Sierra Real Estate, a Lee NYC affiliate. Studley’s Greg Taubin repped the sublandlord.

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Shenkman Capital Management signed long-term, 21k SF renewal and expansion at 461 Fifth Ave. Cassidy Turley’s Jim Frederick repped the tenant, while Chris Gulden repped owner SL Green in-house.

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The New York State Council on the Arts is moving its HQ to 13k SF at 300 Park Ave South, signing a 10-year deal. Rockrose Development Corp’s Craig Craig Deitelzweig, along with Cushman & Wakefield’s Andrew Peretz, John Peters, and Mikael Nahmias, repped owner Rockrose.

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Enterproid inked a 10k SF lease at 56 W 22nd St. ABS Partners’Douglas Regal repped the tenant, while Colliers International’s Perry Mesmer repped owner Fifty Six Realty Corp.

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New York Foundling Hospital signed a 5,600 SF lease at 49 W 23rd St. Halstead Property’s Natasha Tomai repped the tenant, while Adams & Co’s James Buslik and Alan Bonett repped owner Twenty Three RP Associates.

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House of Jai inked a long-term, 4,200 SF lease at 1456 First Ave for a yoga studio concept. Gallery Real Estate’s Joshua Price repped the tenant, while Newmark Knight Frank’s Jeffrey Roseman and Amy Zhen repped owner RFR Realty.

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Nancy & Co signed a 1,000 SF lease at 62 The Circle, East Hampton for its third clothing and accessory shop. Manhattan Skyline Management Corp is the owner.

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M. Wells restaurant signed a 10-year lease at 42-15 Crescent St, Long Island City. The steakhouse will open in late fall at the now-vacant commercial garage owned by Rockrose Development Corp. The tenant was repped by Adam Cohn, while Patricia Dunphy repped the owner in-house.

FINANCING

Meridian Capital Group arranged: a $8.3M new mortgage for three multifamily buildings totaling 129 units and three new mortgages totaling $8.3M for a 59-unit, six-story multifamily buildings and two 35-unit, four-story multifamily buildings, all on Ocean Parkway, Brooklyn (arranged by Avi Weinstock); a $5.5M new mortgage on a 29-unit, five-story mixed-use building on West 57th Street (arranged by Scott Assouline and Jacob Nefoussi); and a $3.5M new mortgage for a 16-unit, five-story mixed-use building on Rivington Street (arranged by Cary Pollack).

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GCP Capital Group arranged: $6.2M for a 52-unit, six-story elevator apartment building with 6,400 SF of retail space on Grand Concourse, the Bronx (arranged by Adam Brostovski); $4.2M for the parking garage portion of a condo unit with capacity for over 400 vehicles in DUMBO (arranged by Matthew Albano); $2.6M for a 38-unit, four-story walk-up apartment building on Avenue K, Brooklyn(arranged by Paul Greenbaum); and $1.9M for a 10-unit, four-story walk-up apartment building on Manhattan Avenue, Brooklyn(arranged by Matthew Classi).

BUSINESS

Danvers, MA-based Hirsch Construction Corp is expanding to NYC, opening up a branch at 41 Madison Ave.

EXECUTIVE MOVES

Blesso Properties named Albert Price president & COO, working with founder & CEO Matthew Blesso in the ID, concept development, management, and financing of all projects. He was previously with Goldman Properties and held positions at Capital Trust and Rosebud Ventures. He’s a Princeton grad.

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Heritage Realty Services hired Joseph McCluskey and Daniel Wernicki to launch its office and retail brokerage services. Joseph was previously with Murray Hill Properties and held a position at Helmsley-Spear. Daniel spent the past decade as a CRE pro in Los Angeles.

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HKS Capital Partners hired Scott Kogel as associate partner. He was previously with York International Agency and held positions at WLK Group and Sotheby’s International Realty. He’s a Syracuse grad and is currently going for an MA at NYU Schack.

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Baruch Itzhak joined El Ad US Holding as controller. He was previously with Arik Eshel CPA & Associates and held positions at eTouchWare and PricewaterhouseCoopers.

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Kimco Realty Corp promoted Paul Westbrook and David Bujnicki to corporate VPs. Paul has been with Kimco for nine years, while David has been with the firm for eight.

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Almanac Realty Investors promoted Andrew Silberstein to partner. He’s been with the firm since ’09 and led the firm’s investments in RXR Realty, Welsh Property Trust, and Westcore Properties; he serves as a director in each of those firms. He’s also held positions at Stoltz Real Estate, AMS Real Estate Partners, Bear Stearns, and Morgan Stanley. He’s a Yale and NYU Stern grad.

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RKF promoted four: Richard Gelber to managing director; and Caleb Petersen, Brian Segall, and Greg Covey to senior director. Richard has been with the firm for 10 years and is a Syracuse grad. Caleb is a University of Washington grad. Brian joined the firm in ’07 and is an Emory grad. Greg also joined in ’07 and is an Emory and NYU grad.

GREEN SCENE

Hearst Tower
Hearst Tower achieved LEED Platinum for the operations and maintenance of its existing building, the first office building in NYC to receive this cert along with LEED Gold for new construction. In 2006, it was one of the first certified office buildings in the city. It’s reduced its total energy consumption by 40% and reduced waste going to landfills by 82%. It also composts 100% of its wet food waste and uses 100% of reclaimed non-potable rainwater for hardscape and sidewalk cleaning. Also receiving LEED Platinum is NYU’s Wilf Hall at 139 MacDougal St, which houses NYU Law offices and programs, as well as the Provincetown Playhouse.
Related Topics: RXR Realty, Meridian Capital Group, Patricia Dunphy, Rockrose Development Corp, Goldman Sachs, Rosewood Realty Group, Grand Concourse, Aaron Jungreis, NYU Schack, Westcore Properties, Karl Brumback, Kimco Realty, NYU Law, ABS Partners, Helen Hwang, Almanac Realty Investors, James Nelson, Kalmon Dolgin Affiliates, FINANCINGMeridian Capital Group, Avi Weinstock, Matthew Classi, James Buslik, RFR Realty, Barbara Raskob, Peter Von Der Ahe, Matthew Albano, Mitch Konsker, Jeffrey Dunne, Jeffrey Roseman, Scott Assouline, Fort Greene, Alan Bonett, Michael Heaner, Cary Pollack, Hearst Tower, Brock Emmetsberger, Clint Olsen, HKS Capital Partners, Federal Reserve Bank, Bear Stearns, Matthew Astrachan, Associates NYC, International Realty, Robert Shapiro, Greg Taubin, Heritage Realty Services, Greg Covey, Perry Mesmer, David Gavin, Steven Bardsley, Joe Koicim, Brian Segall, Brian Sarath, David Lloyd, Halstead Property, Ocean Parkway, Andrew Peretz, Isak Realty Services, David Berger, Jim Frederick, The Circle, NYU Stern, Michael Rotchford, Icon Realty Management, Amy Zhen, Joseph Mangiacotti, Caleb Petersen, Gary Mayzlin, East Hampton, Richard Gelber, Wilf Hall, RWN Real Estate Partners, South Slope, Twenty Three RP Associates, John Peters, Robert Lowe, Chris Gulden, Douglas Regal, Capital Trust, JMC Holdings, Jacob Nefoussi, Welsh Property Trust, Spencer Savings Bank, Ed Donnery, David Heller, John Falco, Matthew Polhemus, French Investing, Anthony Pasqual, Fifty Six Realty Corp, Manhattan Skyline Management Corp, York International Agency, Joshua Price, Albert Price, Sierra Real Estate, Stoltz Real Estate