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THE DEAL SHEET

New York

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THE DEAL SHEET
Bronxites, get your wallets out—a new 133k SF retail center is coming to 230th Street between Broadway and the Major Deegan.
133k SF retail development is coming to 230th Street between Broadway and the Major Deegan
The NYC Economic Development Corp announced yesterday that it’s chosen Equity One to redevelop an 80k SF site along the Broadway retail corridor. The REIT will invest $54M to construct a new 133k SF, two-story multi-tenant retail development on the site (four stores are planned), which will also include 130 covered parking spaces. The developer will purchase the site from the City for $7.5M, and construction on the anticipated LEED Silver center is expected to commence by early 2013 with a two-year build-out.
BIG DEALS!
Havas inked a 15-year, 260k SF lease at Hudson Square, taking 225k SF at 200 Hudson St, 31k SF at 205 Hudson St, and 4,000 SF at 1 Hudson Sq. Newmark Knight Frank’s David Falk and Jason Greenstein repped the tenant, while Cushman & Wakefield’s Marc Packman, Bob Constable, and Andy Peretz, along with Trinity Real Estate’s Jason Pizer, repped owner Trinity.***Paramount Group recapped a 49% interest in its 900 Third Ave office tower, buying out Investa Office Fund of Australia’s partial ownership through its Paramount Group Real Estate Fund IV for $173M. The buyer was repped in-house by Dan Lauer.

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Berkadia Commercial Mortgage’s Erik Storz and Stewart Campbell closed a $136M Freddie Mac loan for the Ocean at One West Street on behalf of The Moinian Group. The property is a 446k SF condo on the 14th through 31st floors of the former Whitehall Building. It's a seven-year, fixed-rate loan with 70% LTV.
SALES
Benedict Realty Group
purchased the 117-unit, six-story multifamily building at 321 E 22nd St from GID Investment Advisors for $31M. HFF’s Andrew Scandalios, Jose Cruz, Jeffrey Julien, and Kevin O’Hearn repped the seller.

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109 Gold St, Brooklyn
Massey Knakal brokered the sale of three properties: a 37k SF, new construction, 33-unit luxury residential building at 109 Gold St, Brooklyn for $14.5M cash, above (broker: Stephen Palmese); a 30k SF Interfaith Medical storage facility at 363-371 Prospect Pl, Brooklyn for $4.5M cash (broker: Michael Amirkhanian); and a 4,800 SF retail building at 90-01 Jamaica Ave, Queens for $1.9M cash (brokers: Brian Sarath and Brian Hanson).***East End Capital purchased 28k SF in mixed-use retail/residential properties at 21, 25-27 Mercer St from Aion Partners for $18M. Eastern Consolidated’s Peter Hauspurg, David Schechtman, Lipa Lieberman, and Gary Meese brokered the deal.

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78 Realty LLC purchased a six-story, 103k SF elevator apartment building with 84 residential units at 530 W 236th St, the Bronx for $17M. Eastern Consolidated’s Marcia Rose Yawitz and Benjamin Tapper repped the buyer.

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TerraCRG’s Adam Hess and Jacob Colleran brokered the sale of three commercial buildings, totaling 36k SF and 42k SF of air rights, at 6303-6311 5th Ave, Brooklyn for $6.3M.

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Foreign investor YH18 purchased two retail condos at 15 W 20th St and 32 W 18th St, totaling 8,900 SF, from Extell Development for $6.1M. Eastern Consolidated’s Aliza Avital repped the buyer, while Eastern’s Martin Ezratty repped the seller.

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Icon Group purchased the a four-story, 7,200 SF vacant building at 222 E 81st St from John A. Stokes Jr. Revocable Trust for $3.8M. Besen & Associates’ Glenn Raff repped the buyer, while Besen’s Bobby Khurana repped the seller. And Besen’s Matthew Garcia brokered Karp & Kalamotousakis’ purchase of a 20-unit, four-story walk-up apartment building at 973 44th St, Brooklyn from Huang Law Firm for $1.6M.

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Marcus & Millichap’s Shaun Riney and Derek Bestreich brokered the sale of the 20-unit apartment building at 580-586 E 22nd St, Brooklyn for $2.4M.

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A private investor purchased 43-11, 43-13, and 43-15 28th Ave, Astoria from H & S Gordon for $1.6M cash. The three continuous. two-story, mixed-use buildings total 6,400 SF and include six residential units and two commercial tenants. Falco & Isak Realty Services’ Rubin Isak brokered the deal.

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Urstadt Biddle Properties acquired an interest in a newly formed LLC that will own and operate the Orangetown Shopping Center in Orangeburg and will be the manager and leasing agent for the property. The 75k SF center is anchored by CVS, Orange Farms Market, and the US Post Office.

LEASES

Stuart Weitzman signed a 10-year, 37k SF lease at 625 Madison Ave. PBS Real Estate’s Laura Pomerantz and John Brod repped the tenant.

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Israel Berger & Associates leased 23k SF at 360 Park Avenue South. Studley’s Jeff Peck repped the tenant.

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300 Atlantic St, Stamford, Conn
Cowen Healthcare Royalty Partners leased 12k SF at 300 Atlantic St, Stamford, Conn. Cushman & Wakefield’s Jodie Dostal repped the tenant, while Margaret Carlson and Steve Lash repped owner RFR Realty in-house.***The NFL opened its first-ever pop-up store in 10k SF at 1095 Avenue of the Americas, where it will reside until April 30.

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Murray Feiss Imports took 9,000 SF at 555 Theodore Fremd Ave, Rye. CBRE’s Paul Hoffmann repped the tenant, while Cushman & Wakefield’s Greg Frisoli and Larry Ruggieri repped owner Faros Gould.

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Holly Pond Plaza at 1281 E Main St, Stamford, Conn. saw four deals: Centerstone Partners’ 2,900 SF lease (tenant rep: Signature Group’s Bobby Gillon); Beacon Wealth Consulting’s 2,100 SF lease (tenant rep: Angel Commercial’s Brett Sherman); The Shoff Darby Insurance Agency’s 1,100 SF lease (tenant rep: Pyramid Real Estate Group’s Jesse Weber); and DKR Capital’s 2,200 SF renewal. Cushman & Wakefield’s Greg Frisoli, Adam Klimek, and William Montague repped owner Faros Gould.

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O’Neil Langan Architects inked a 5,200 SF lease at 15 W 37th St. Adams & Co’s Alan Bonett and Nick Zagar repped the tenant, while Steve Levy repped landlord Kamber Management in-house.

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E.G. Bowman Co signed a 10-year, 4,800 SF lease at 5 Hanover Sq. The Lawrence Group’s Jeffrey Symmons repped the tenant, while Cushman & Wakefield’s Frank Cento and Jonathan Fein repped owner Savanna.

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T. Park Central & O. Park Central leased a 3,200 SF suite at 250 W 57th St. Studley's Nick Zarnin repped the tenant, while Cushman & Wakefield's Harry Blair, Sean Kearns, and Kelli Mekles repped owner W&H Properties.

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Pono Learning signed a 2,600 SF lease at 2002 Fifth Ave, Harlem, on the ground level of a seven-story residential building. Prudential Douglas Elliman’s Faith Hope Consolo, Joseph Aquino, and Arthur Maglio brokered the deal.

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Besen Retail’s Matthew Mager and Elliott Dweck brokered two leases: Pawn Brokers of America’s 1,100 SF lease at 338 E Gun Hill Rd, the Bronx (landlord: BLDG Management Co) and Apple Garden Café’s 1,100 SF lease at 4863 Broadway (landlord: The Parkoff Org).

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Exquisite Eyewear signed a 1,600 SF lease at Carman Plaza on 777 Carmans Rd, Massapequa, Long Island. Sabre Real Estate Group’s Amanda Gordon repped owner Cedar Realty Trust.

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Randstad US signed a 1,600 SF lease at 100 First Stamford Pl, Stamford, Conn. The tenant repped itself, while Jeffrey Newman,Kimberly Zaccagnino, and Tara Long repped owner Malkin Properties in-house.

FINANCING

GCP Capital Group negotiated: $17M for a 180k shopping mall in White Plains (arranged by Paul Greenbaum); $4M for a 20-unit, six-story apartment building with 2,200 SF of commercial space, on Orchard Street (arranged by Matthew Classi); $2.6M for a 46-unit five-story, walk-up apartment building with 1,800 SF of commercial space on East 178th Street (arranged by Adam Brostovski); and $1.9M for a seven-unit, four-story apartment building on 47th Road, Long Island City (arranged by Matthew Albano).

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Besen Capital’s Angela Ortiz arranged $16M in mortgage loans to recap buildings on Amsterdam Ave, West 118th Street, and the Bronx’s Bainbridge Avenue and East 206th St, which total 229 apartments and three stores. She also arranged $8M in additional mortgage loans to recap buildings on the Bronx’s East 220th and 223th streets and 1270 Morris Ave; as well as a building in Mount Prospect, NJ, totaling 132 units.

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Emerald Creek Capital issues two one-year bridge loans: $3M to refi a mortgage on a luxury townhouse and $1.2M secured by a development site in Harlem.

CONSTRUCTION & DEVELOPMENT

The MTA and NYC Economic Development Corp issued RFPs for the disposition and reactivation of seven properties throughout NYC that the MTA no longer requires for the transit network. These include: a triangular lot at 19 E Houston St, Manhattan; a site at Gun Hill Road and I-95 in the Bronx; 351 E 139th St, Mott Haven; 707 E 211th St, Williamsbridge; 851 Avenue I, Midwood; a development site at 379 Van Sinderen Ave, East New York; and a 5,000 SF parking lot at 103-54 99th St, Ozone Park.

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488 Madison Ave, New York
The Feil Org will be renovating the building lobby and entryway at 488 Madison Ave, with construction completed by Labor Day. The new lobby will feature honed gray limestone, a white Calcutta stone border, stainless steel elevator frames, and LED lighting. Goldstein, Hill & West Architects designed the renovation.EXECUTIVE MOVES

John Poblocki joined Sierra Real Estate, an affiliate of Lee & Associates NYC. He was previously with Grubb & Ellis, where he was in charge of the Northeast and Southeast regions. He also held positions at Cohen and CBRE. He’s a Worcester Polytechnic Institute and University of Rhode Island grad.

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James Driscoll joined LCOR as SVP of development, leading the team in development activities for NY, NJ, Westchester, and Fairfield. He was previously with M/I Homes and held positions at K. Hovnanian Homes, Archstone, and Driscoll Cos. He’s a University of Maryland grad.

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David Robinov joined Ackman-Ziff as managing director, leading the firm’s direct sales effort with a primary role in the retail sales platform. He'll also help expand the firm into office building sales and other property types. He was previously with Acadia Realty Trust and held a position at Eastdil Secured. He’s a UPenn grad.

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Steve Mosto joined Donnelly Mechanical Corp as VP of energy services. He was the founder of Mosto Technologies and is a Rutgers grad.

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Studley promoted Ryan McKinney to assistant director. He joined the firm in ’07 as a research specialist and has completed 1M SF in transactions. Previously, he was with Hill Top Associates and is a St. Michael’s College grad.

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Marcus & Millichap promoted Peter Von Der Ahe to first VP of investments. He’s been with the firm since ’02 and is also a director of its National Multi Housing Group. Last year, he closed 21 transactions totaling $133M.

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Denihan Hospitality Group promoted Dani Elhachem to VP of operations, overseeing the company’s corporate operations functions relating to the portfolio’s performance and strategic management. He’ll also preside over the company’s transitions, conversions, and new builds. He joined the firm in ’07. He spent most of his career at Starwood Hotels & Resorts and held a position at CHIP Hospitality.

Related Topics: Extell Development, Laura Pomerantz, Stephen Palmese, Acadia Realty Trust, Equity One, Adam Hess, NYC Economic Development Corp, Jose Cruz, Mount Prospect, GID, Peter Hauspurg, Paramount Group, East New York, The Moinian Group, Matthew Classi, Kimberly Zaccagnino, Trinity Real Estate, Joseph Aquino, RFR Realty, Rhode Island, Big Deals, Andrew Scandalios, Berkadia Commercial Mortgage, Park Central, David Schechtman, Peter Von Der Ahe, Matthew Albano, The Feil Org, David Falk, Israel Berger, Jeffrey Julien, Urstadt Biddle Properties, Tara Long, Harry Blair, Alan Bonett, Sean Kearns, Sabre Real Estate Group, PBS Real Estate, Michael Amirkhanian, Jason Pizer, Frank Cento, Associates NYC, Marc Packman, Arthur Maglio, Brian Sarath, Margaret Carlson, Brian Hanson, First Stamford Pl, Jonathan Fein, John Brod, Denihan Hospitality Group, Rubin Isak, Shaun Riney, Isak Realty Services, The Lawrence Group, The NYC Economic Development Corp, Jamaica Ave, Lipa Lieberman, 1095 Avenue, Larry Ruggieri, Worcester Polytechnic Institute, Nick Zarnin, Andy Peretz, National Multi Housing Group, Hovnanian Homes, Besen Capital, Hanover Sq, Jason Greenstein, Amanda Gordon, Nick Zagar, The Parkoff Org, Mott Haven, Donnelly Mechanical Corp, Angela Ortiz, Derek Bestreich, David Robinov, West Architects, Ozone Park, Greg Frisoli, US Post Office, Glenn Raff, Aion Partners, Benjamin Tapper, Marcia Rose Yawitz, 100 First Stamford Pl, Stewart Campbell, Besen Retail, Elliott Dweck, BLDG Management Co, James Driscoll, Realty LLC, Bob Constable, Jeff Peck, Steve Lash, Brett Sherman, Adam Klimek, Steve Levy, Ryan McKinney, Major Deegan, Dan Lauer, The NFL, Gary Meese, Paramount Group Real Estate Fund IV, Erik Storz, Prospect Pl, East End Capital, Martin Ezratty, Faros Gould, Signature Group, Angel Commercial, DKR Capital, Kamber Management, Emerald Creek Capital, Sierra Real Estate, Jacob Colleran, Bobby Khurana, Driscoll Cos, Jesse Weber, 01 Jamaica Ave, Starwood Capital Group