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THE DEAL SHEET

New York

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THE DEAL SHEET
SALES
194-210 E 18th St, Ditmas Park
Shamah Properties purchased six elevator buildings at 75-91 Hawthorne St, 2015-2027 Foster Ave, 2101 Bedford Ave, 1-17 St. Paul’s Ct, 194-210 E 18th St (pictured), and 350 E19th St in Ditmas Park from Skyline NYC for $43M. Rosewood Realty Group’s Aaron Jungreis brokered the deal. Aaron and David Berger also repped buyer Sol Kopelowitz in the previously announced sale of 350 Empire Blvd, 441 Brooklyn Ave, and 305 E 34th St in Brooklyn for $18.1M.***DelShah Capital purchased all of the senior liens on 55-57 Gansevoort St, with the amount owed on the liens at approximately $30M. In conjunction, it restructured the lease with Villa Pacri, a food and beverage retailer on the cellar, first, and second floors. The building has 10k SF of commercial space and 10k SF of retail space, also occupied by La Gazetta and Gun Bar. DelShah also submitted plans to the Landmarks Preservation Commission for approval of an outdoor rooftop space.

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Savanna acquired the 72k SF 576 Fifth Ave for an undisclosed price, buying the defaulted first mortgage then subsequently taking control of the leasehold interest in the property. The building will undergo a multi-million dollar capital improvement program. A Cushman & Wakefield team of Joseph Lagano and Robert Sweeney will manage the property, and Savanna’s Todd Korren and Tal Masica will lease the building.

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An investment group headed by Walter & Samuels chairman David Berley purchased 30 E 20th St for $10M. The off-market transaction was brokered by HPNY’s Ivan Hakimian.

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TerraCRG’s Adam Hess brokered the sale of two adjacent 16-family buildings at 4706-4712 4th Ave, Sunset Park for $4.4M.

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Gjonbalaj Management sold the six-story, 41k SF elevator apartment building at 2435 Frisby Ave, Bronx for $4.2M. Rosewood Realty Group’s Michael Kerwin and Devin Cohen repped the seller.


LEASES Chun Po Trading signed a 46k SF lease at 54-35 46th St, Maspeth. Kalmon Dolgin Affiliates’ Linda Wong repped the tenant, while KDA’s Fred Rufrano repped the landlord.***

Bright Horizons Family Solutions signed two leases: 21k SF at 175 Kent Ave, Williamsburg and 17k SF at 910 Ninth Ave. Cassidy Turley’s Michael Hofmann and Peter Occhi repped the tenant in both deals. Winick Realty’s Jeff Winick and Diana Boutross repped owner Equity Residential Management in the Brooklyn deal, while Jeff Punia repped owner Professional Office Leasing Associates in the Manhattan deal.

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1140 Avenue of the Americas saw two deals: City National Bank’s 18k SF lease and Waterfall Asset Management’s 13k SF lease.Cushman & Wakefield repped City National Bank, while JLL’s Chris Kraus and Brian Higgins repped Waterfall. JLL’s Michael Shenot,Douglas Neye, and Ryan Masiello worked along with owner Equity Office’s Josh Glick to rep ownership.

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TAL International Container Corp inked an 11-year, 28k SF renewal at 100 Manhattanville Rd, Purchase. Choyce Peterson’s Alan Peterson and John Hannigan repped the tenant, while JLL’s William Korchak and Barbara Winter repped owner SEB Investment.

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1271 Avenue of the Americas, New York, NY
UGL Services moved into 24k SF in the Time-Life Building (1271 Avenue of the Americas). Following an internal competition among six teams of UGL Services’ junior brokers, Doug Levine and Chris Sterling were selected to lead the initiative to locate space.***

David Peyser Sportswear inked a 24k SF lease at 463 Seventh Ave. Adams & Co’s David Levy repped both the tenant and the landlord, The Arsenal Co.

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Ideeli signed a 24k SF lease at 1385 Broadway. Colliers International’s Leon Manoff and Jason Lund repped the tenant, while Cushman & Wakefield’s Jonathan Serko, Gary Greenspan,Diana Gaines, and David Malawer repped owner B. Bros Broadway Realty, an affiliate of Bloomingdale Properties.

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Davidoff, Malito & Hutcher renewed its 20k SF lease at 605 Third Ave for another 17 years. Cushman & Wakefield’s Andrew Sachs,Ben Shapiro, and Thomas Citron repped the tenant, while Jack Whalen repped owner Fisher Brothers in-house.

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DKNY signed a long-term, 18k SF early renewal at 655 Madison Ave for its flagship store. PBS Real Estate’s Laura Pomerantz and John Brod repped the tenant, while Colliers International’s Andrew Roos and Michael Cohen repped owner Plaza Associates.

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Aronauer Re & Yudell signed a 8,100 SF lease at One Grand Central Place. Greg Wang, who recently joined Newmark Grubb Knight Frank, repped the tenant while he was at Colliers International. NGKF’s Billy Cohen, Ryan Kass, and Julie Christiano repped owner W&H Properties.

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The Pearl Theatre Co signed a 20-year, 7,000 SF lease at 553 E 42nd St, near its office at 307 W 38th St. The space was formerly occupied by the Signature Theatre Co. Denham Wolf’s Stephen Powers repped the tenant, while New Street Realty Advisors’Matthew Gorman repped owner Massachusetts Mutual Life Insurance Co.

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Latin fusion restaurant Blend inked a 4,300 SF lease at 45-40 Center Blvd, Long Island City. The new space is at the base of TF Cornerstone’s newly constructed luxury rental building that will open in 2013. Winick Realty’s Steven Baker and Joshua Singer brokered the deal.

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Andrea’s 25 Ristorante Italiano signed a deal for its second location, taking 4,000 SF at Woodbury Common in Woodbury, Long Island. Sabre Real Estate Group’s Jayson Siano arranged the deal between the tenant and owner Kabro Associates.

FINANCING

Meridian Capital Group arranged over $63M in new mortgage financing: $40M for a 159-unit, 16-story multifamily building on Central Park West (brokers: Carol Shelby and Dani Sabesan);$11.2M for a six-building multifamily portfolio in Manhattan, Brooklyn, Long Island City, and Corona (arranged by Scott Assouline); $3.7M for a 55-unit, six-story multifamily building on Arnow Avenue, the Bronx (arranged by Josh Rhine); and $3.3M for an 83-unit, five-story multifamily building on Kingsbridge Ave, the Bronx (arranged by Assouline).

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Meridian Capital Group’s David Zlotnick negotiated over $43M in permanent financing for two multifamily portfolios located in Manhattan, Bronx, and Hempstead, Long Island. Both loans, provided by a local balance sheet lender, feature 12-year terms, comprised of a seven-year fixed-rate portion and a five-year option and rates of 4% with a two-year IO period. The two portfolios total 20 properties and 809 units.

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CBRE Capital Markets’ Keith Braddish and Jason Gaccione, along with CBRE Retail’s Michael Blum, arranged a $9.5M, fixed-rate loan to refi 145 Spring St and 474 Broome St. The 10-year loan was provided by Citigroup. Keith and Jason also secured a five-year,$18.5M IO acquisition loan for a 27k SF retail condo at 156-168 Bleecker St. The borrower for the condo was a JV between JMC Holdings and RWN Real Estate Partners.

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GCP Capital Group arranged over $27M in financing, including:$13.2M for a portfolio containing a three-story, 9,900 SF taxpayer building in Tarrytown, a two-story mixed use building with 11 offices and 8,800 SF of retail space in Bronxville, and three commercial buildings containing three offices and 16k SF of retail space in Mount Vernon (arranged by Matthew Classi); $6M for two single-story commercial buildings totaling 26k SF in Brooklyn (arranged by Paul Greenbaum); $4.5M for a two-story, 18k SF mixed-use building in Manhasset, Long Island (arranged by Classi); and $3.8M for a five-story, 46-unit apartment building with 3,700 SF of retail space on West 174th Street (arranged by Adam Brostovski).

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Eastern Union Commercial arranged nearly $12M in first-lien mortgages, including: $8.5M for the refi of a 302k SF industrial property in Queens (arranged by Jeff Seidenfeld); $2M for the refi of a 30-unit multifamily property in the Bronx (arranged by Michael Muller); and $1.4M for the refi of an eight-unit multifamily property in Astoria (arranged by Nate Hyman).

CONSTRUCTION & DEVELOPMENT
A JV of The Naftali Group and AEW Capital Management closed on a 90k SF development site at 316 Bergen St, Brooklyn, where it plans to build a Class-A, mid-rise apartment building that will have 85 luxury rentals and 45 parking spaces. Aptsandlofts.com will lease and market the building. The property will feature an attended lobby, health club, storage, resident lounge, courtyard, and roof deck. The building will break ground this summer and the JV expects a 20-month buildout.***

The Port Authority awarded a $10M contract to Skanska Koch to install more that 175 steel ribs along the north-south concourse of the new World Trade Center Transportation Hub and complete work at the West Street concourse, which will lead commuters from mass transit to One World Trade Center and the World Financial Center. The architect is Santiago Calatrava.

EXECUTIVE MOVES

Brookfield Office Properties announced promotions and changes to its executive management team. Effective July 1, Ric Clark will become chairman of the board; Dennis Friedrich will become CEO;Tom Farley will become sole president and continue his role of global COO; and Mark Brown will assume Dennis’ role of chief investment officer.

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David Maki joined Heitman as SVP of North American capital markets, responsible for managing the firm’s North American debt financings for new acquisitions and financing on its existing portfolio. He was previously with RREEF Alternative Investments and held positions at LaSalle Bank Corp and Wells Fargo. He’s a Ryerson Polytechnical University and University of Michigan grad.

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Avison Young hired the investment sales team of Vincent Carrega,Neil Helman, Jon Epstein, and Charles Kingsley as principals in the firm’s new NYC office. The team comes from Grubb & Ellis, where they collectively completed assignments totaling more than $4.5B over the past few years. Also joining them from G&E are Michael Gottlieb and Martin Cottingham as principals; Michael Berk and Steve Rooney as financial analysts; Jason Mazin as marketing coordinator; and Miriam Halpert as investment sales broker.

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Kenneth Hochhauser joined Winick Realty Group as EVP, assisting in both tenant and landlord rep. He was previously with Newmark Knight Frank.

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Alexander Erdos joined Eastern Consolidated as an associate director, the sixth lawyer to join the firm. He was previously with Merrill Lynch as a wealth manager and held positions at Liberty Mutual Group and Epstein, Lipsey & Clifford. He’s a Suffolk University Law School and UPenn grad.

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Greg Batista joined Sabre Real Estate Group as director and will focus on the development of national retailers’ expansion plans. He was previously with Pliskin Realty & Development and also held a position at Ashkenazy Acquisitions Corp. He’s a Siena College grad.

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Stuart Saft joined Holland & Knight as partner and co-chair of the firm’s New York real estate practice group. He was previously with Dewey & LeBoeuf. In addition to his position there, he’s also chairman of the National Consumer Cooperative Bank and chairman emeritus of NYC’s Workforce Investment Board.

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Steven Kornblau and David Kostman joined Loeb & Loeb as partners in the firm’s real estate department. They’ll be joined by associate Emily Rakowicz, and come together as a team from Bryan Cave. Steve is a Boston University and SUNY Albany grad, David is a Hofstra and University of Michigan grad, and Emily is a Hofstra and SUNY Stony Brook grad.

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Les Loffman joined Proskauer’s real estate capital markets group as tax partner, providing tax structuring and business advice to both listed and non-listed REITs and private investment funds and their partners in the US and globally. He was previously with DLA Piper and held a position at Ernst & Young.

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Barry Cozier, Scott Drago, Cynthia Mitchell, and Adrian Zuckerman joined LeClairRyan as shareholders, while Linda Bielik, Ralph Berman, and Andrea Lawrence joined as partners and Lauren Margiano as an associate. All were previously with Epstein Becker & Green. Adrian will serve as co-leader of the real estate industry team.

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Cushman & Wakefield promoted nine: Clark Finney, David Malawer, and David McBride to senior directors; Jonathan Scibilia to director; Alisa Amsterdam, Sarah Mohr Fabian, John Fitzsimons, and William Levitsky to associate directors; and Michelle Walker to senior associate.

Related Topics: Dennis Friedrich, CBRE, Wells Fargo, Skanska, Meridian Capital Group, Laura Pomerantz, TF Cornerstone, Rosewood Realty Group, Aaron Jungreis, Mount Vernon, RREEF, Boston University, Merrill Lynch, Michael Cohen, Diana Boutross, Bryan Cave, Adam Hess, The Naftali Group, One World Trade Center, Liberty Mutual, Landmarks Preservation Commission , UGL Services, Kalmon Dolgin Affiliates, FINANCINGMeridian Capital Group, Matthew Classi, AEW Capital Management, Ryan Kass, Todd Korren, Winick Realty Group, World Financial Center, Jayson Siano, One Grand Central Place, Scott Assouline, Fisher Brothers, Josh Rhine, Sabre Real Estate Group, PBS Real Estate, Jeff Winick, The Arsenal Co, DelShah Capital, The Port Authority, David Malawer, Jonathan Serko, Ryan Masiello, Clark Finney, John Brod, Vincent Carrega, Life Building, Leon Manoff, Chris Kraus, City National Bank, Douglas Neye, Julie Christiano, Gary Greenspan, 1385 Broadway, David Berger, Steven Baker, Keith Braddish, Stuart Saft, SUNY Stony Brook, Andrew Roos, David Zlotnick, Peter Occhi, Neil Helman, Barbara Winter, Jason Gaccione, Charles Kingsley, SUNY Albany, Stephen Powers, Fred Rufrano, Brian Higgins, Linda Wong, Devin Cohen, Michael Gottlieb, Greg Wang, Andrew Sachs, Diana Gaines, Ditmas Park, David Maki, Matthew Gorman, Denham Wolf Real Estate Services, New Street Realty Advisors, Kenneth Hochhauser, Epstein Becker, Michael Kerwin, Bloomingdale Properties, RWN Real Estate Partners, Jon Epstein, Michael Muller, Eastern Union, William Levitsky, Kabro Associates, Michael Shenot, William Korchak, Jason Lund, Thomas Citron, Signature Theatre Co, Joshua Singer, Alexander Erdos, Michael Hofmann, Ben Shapiro, Pliskin Realty, JMC Holdings, Nate Hyman, Choyce Peterson, John Hannigan, Greg Batista, Tom Farley, Jonathan Scibilia, Bros Broadway Realty, Michelle Walker, Josh Glick, Waterfall Asset Management, Doug Levine, Chris Sterling, Jack Whalen, Massachusetts Mutual Life Insurance Co, World Trade Center Transportation Hub, Ric Clark, Mark Brown, Martin Cottingham, Ashkenazy Acquisitions Corp, Workforce Investment Board, Alisa Amsterdam, John Fitzsimons, David Berley, Plaza Associates, Suffolk University Law School, Woodbury Common, 40 Center Blvd