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THE DEAL SHEET

THE DEAL SHEET
SALES
Starwood Capital Group
purchased the 21-story 1372 Broadway, a 572k SF retail and office building, from BLDG Management for an undisclosed price.***

Rosewood Realty Group brokered the sale of three properties: a five-story walkup apartment building with 32 units and four stores at 1045 Union St, Crown Heights for $5.3M (brokers: Aaron Jungreis for seller USH Associates and Samuel Kooris for the buyer); a four-story walkup apartment building with 42 units and four stores at 1711-1719 Carroll St, Crown Heights for $3.9M (brokers: Jungreis for the seller and David Scheer for the buyer); a 15k SF, three-story mixed-use building at 906 E 180th St, Bronx for $2M (brokers: Jungreis for the seller and Kooris for the buyer).

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225 E 82nd St
Erez Itzhaki and Gil Boosidan purchased a 27-unit, seven-story residential apartment building at 225 E 82nd St for $6.3M. Eastern Consolidated’s Azita Aghravi repped the seller, while the firm’s Alan Miller and Inbal Himelblau repped the buyer.***Besen & Associates brokered the sale of three properties: two five-story walkup buildings, totaling 35 units and five commercial storage spaces, at 51 and 53 Monroe St for $4.4M (brokers: Amit Doshi,Abraham Aderet, and Lynda Blumber); and the four-story, 20k SF bank building at 1024 Gates Ave, Brooklyn for $1.9M (broker: Daisy Okas).

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Stath Realty Corp purchased a mixed-use development site at 1413-1425 Fulton St, Brooklyn from Shiloh Realty Corp for $3.3M cash. CPEX’s Brian Leary, Sean Kelly, Jay Sendogdular, and Matthew Dzbanek brokered the deal.

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TerraCRG repped the seller in the sale of a vacant lot allowing 13k buildable SF at 11-13 St. Mark’s Pl, Boerum Hill for $1.7M cash.
LEASES Fashion Accessories Center (10 W 33rd St) saw over 14k SF of deals, including: PLV Studio’s 5,800 SF lease, Bean Tree Corp’s 4,600 SF lease, and Daniel M. Friedman & Associates’ 1,135 SF lease (tenant rep for all three: Adams & Co’s David Levy) and George R. Chaby Inc/Rain Tech’s 1,400 SF lease (tenant rep: Adams’ Brett Maslin). Levy repped owner Ten West Thirty Third Associates in each deal.

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Unpakt signed a 4,500 SF lease at 99 University Pl. Metropolitan Property Group’s David Nouhian repped the tenant, while Kenneth Zund Realty Associates’ Tom Pfingst and Jeff Zund repped ownership. Tom also acted on behalf of the owners for Advance Publications’ 10k SF lease at 313 W 37th (tenant rep: Prudential Douglas Elliman’s Anita Grossberg) on behalf of Apparel Ventures/Manhattan Beachwear in its 5,000 SF expansion at 1411 Broadway and on behalf of A-List Services’ 3,400 SF lease at 363 Seventh Ave.

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80 Broad St saw two deals: Kenshoo’s six-year, 10k SF lease (tenant rep: Wharton Property Advisors’ Ruth Colp-Haber) and Caribbean Tourism Org’s seven-year, 3,400 SF renewal (tenant rep: Kenneth Zund Realty Associates’ Jeff Zund). Newmark Grubb Knight Frank’s Hal Stein, Adam Leshowitz, and Todd Stracci repped owner Savanna in the Kenshoo lease, while Todd Korren repped the owner in-house for CTO.

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1375 Broadway saw two deals: Every Woman Wellness’ 15-year, 6,000 SF lease (tenant reps: Midtown Commercial Real Estate’s Jeff Cohen and Paul Stern) and Necessary Objects’ 10-year, 4,000 SF lease (tenant rep: Colliers’ Jack Cohen). Colliers’ Michael Thomas,Eric Meyer, and Martin Meyer repped owner Savanna in both deals.

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Civic Entertainment signed a 9,400 SF lease at 470 Park Ave South, bringing the TIAA-owned building to 100% occupancy. Newmark Grubb Knight Frank’s Allen Gurevich repped the tenant, while JRT Realty’s Greg Smith, John Thompson, and Kate Pezzolla repped the owner.

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Fort Street Studios inked a 10-year, 8,100 SF lease at 22 W 19th St. Peter McCuen & Associates’ Jim St. Andrew repped the tenant, while The Kaufman Org’s Steven Kaufman and Barbara Raskob repped the owner.

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T. Weiss Realty’s Long Island office properties saw four renewals:Hooper Holmes for 1,700 SF at 2150 Joshua’s Path, Hauppauge(tenant rep: Transwestern’s Pepsi Windland) and Allied Electronics’ 1,100 SF in the same building; Pension Design Services’ 4,500 SF at 330 S Service Rd, Melville (tenant rep: Cresa’s Richard Caputi); and Walendowski & Klein’s 1,400 SF at 532 Broadhollow RD, Melville. Craig Weiss repped the owner in-house for Hooper Holmes and Pension Design Services.

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Levine Plotkin & Menin signed a long-term, 7,600 SF lease at 888 Seventh Ave. Cushman & Wakefield’s Josh Kuriloff, Jodi Roberts, and Andrew Braver repped the tenant, while Glen Weiss and Jared Solomon repped owner Vornado in-house.

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QlikTech inked a 6,000 SF lease at 292 Madison Ave. JLL repped the tenant, while Newmark Grubb Knight Frank’s Billy Cohen repped owner Marciano Investment Group. The asset manager is Herald Square Properties.

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105 Maxess Rd, Melville, Long Island saw three deals: Windsor Medical’s 2,500 SF lease (tenant rep: Brody Realty Corp’s Gary Brody); Morgan & Sampson USA’s 1,100 SF lease; and Safeguard Operations’ 1,800 SF renewal. Craig Weiss repped owner T. Weiss Realty.***Majorica renewed its 4,600 SF lease for another 10 years at the New York Accessories Exchange building (366 Fifth Ave). Davidoff Malito and Hutcher repped the tenant, while Joseph P. Day Realty Corp’s Rick Brickell repped the owner.

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ThinkMap inked a six-year, 4,600 SF lease at 499 Broadway. Arch Brokerage’s Larry Roberts repped the tenant, while ABC Properties repped the landlord.

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The Montessori Kids of Long Island City signed a 4,000 SF lease at 5 Court Sq, Long Island City. Modern Spaces’ Troy Allen repped the landlord.

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CrossFit NYC inked a 4,000 SF lease a Building 44 at Atlas Terminals. Right Time Realty’s Joe Ibrahim repped the tenant, while Neil Adamson repped owner ATCO in-house.

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LVMH signed a long-term, 3,900 SF lease at 20 W 55th St. Newmark Grubb Knight Frank’s Billy Cohen and Ryan Kass brokered the deal.

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A new restaurant concept inked a 3,100 SF lease at 306 E 49th St. New York Commercial Real Estate Services’ James Famularo and Ravi Idnani repped the tenant, while RKF’s Greg Covey and Ross Berkowitz repped the owner.

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A gift and electronics shop inked a 2,000 SF lease at 367 Seventh Ave. Besen Retailer’s Matt Mager and Elliott Dweck repped tenant Natraj Gandham and receiver Arthur Greig.

FINANCING NCB FSB arranged $84M in co-op financing, including: a $17M first mortgage and $2M line of credit for Cannon Point North, a 210-unit co-op at 25 Sutton Pl South (arranged by Sheldon Gartenstein); an $11M first mortgage and $2.5M line of credit for 5 West 14th Owners Corp, a 429-unit co-op at 5 W 14th St (arranged by Edward Howe III); and an $8M first mortgage and $1M line of credit for 110-118 Riverside Tenants Corp, a 168-unit co-op at 110-118 Riverside Dr(arranged by Mindy Goldstein).

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Meridian Capital Group arranged over $59M in financing, including:$27M for a 78k SF office building on West 40th Street (arranged by Avi Weinstock and Chaim Tessler); $15.9M for four multifamily buildings, totaling 201 units, in Brooklyn and Manhattan (arranged by Morris Diamant); $8.8M for two multifamily buildings, totaling 132 units, on Merrick Boulevard, Jamaica (arranged by Weinstock and Josh Rhine); and $3.2M for a 45-unit, five-story multifamily building on Holland Avenue, Bronx (arranged by David Hayum).

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GCP Capital Group arranged over $31M in financing, including:$19.8M for a portfolio of nine apartment buildings, totaling 255 units and one commercial unit, throughout the Bronx (arranged by Paul Greenbaum); a $5M construction loan for a five-story townhouse on West 89th Street (arranged by Matthew Albano); $3.8M for a 28-unit, four-story elevator apartment building on Kent Avenue, Brooklyn (arranged by Adam Brostovski); and $1.5M for a six-unit, three-story apartment building on North Henry Street, Brooklyn(arranged by Albano).

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Crystal Mall in Waterford, Conn
HFF arranged the refi of Crystal Mall in Waterford, Conn. for an undisclosed sum. The firm’s John Pelusi, Claudia Steeb, Dana Brome, and Lauren O’Neil worked on behalf of Crystal Mall (which includes entities own or advised by Simon Property Group,Canadian Pension Plan Investment Board, and TIAA) and placed the 10-year, fixed-rate securitized loan with UBS Real Estate Securities.
WASHINGTON DC 05.08.2017

MONTGOMERY COUNTY STATE OF THE MARKET

Featuring an Interview of Marriott CEO Arne Sorenson

Arne Sorenson
Marriott International
Mike Gill
The State of Maryland
Barry Glassman
Glassman Wealth Services