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THE DEAL SHEET

THE DEAL SHEET
BIG DEALS!
Nordstrom is taking 285k SF at 225 W 57th St for a flagship store, which will open in 2018. The seven-story department store will comprise the base of a mixed-use retail, hotel, and high-rise residential tower still in the planning stages by developer Extell. JLL’s Derek Trulson repped the tenant, while RKF’s Robert Futterman repped Extell.***The City of New York inked a 15-year, 208k SF renewal at 75 Park Pl. The landlord, Jack Resnick & Sons, was repped in-house by Dennis Brady and Brett Greenberg.

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An institutional buyer purchased the 144-unit, 116k SF 21 W 86th St, also known as The Brewster, from Rambleside Holdings for $98M. CBRE’s Darcy Stacom brokered the sale.
SALES
Omni New York purchased nine multifamily buildings in the Longwood Section of the Bronx for $33.3M
Omni New York purchased nine multifamily buildings in the Longwood Section of the Bronx for $33.3M. The buildings—737 Southern Blvd and 663, 665, 712, 751, 766, 772-774, 775, and 784 Fox St—are subsidized as Section 8 housing and will be preserved as affordable housing. Ariel Property Advisors’ Shimon Shkury,Victor Sozio, Michael Tortorici, and Scot Hirschfield brokered the sale.***

Massey Knakal brokered the sale of four buildings: a four-story, 8,800 SF commercial building at 212 E 49th St for $6.1M cash (brokers: John Ciraulo, Clint Olsen, and Craig Waggner); a development site with 16k buildable SF at 61 Park Pl, Park Slope for $5.8M cash (brokers: Stephen Palmese, Kenneth Freeman, and Winfield Clifford); two walk-up multifamily buildings totaling 20k SF, 34 residential units, and four commercial units at 881-887 5th Ave, Sunset Park for $4.3M cash (brokers: Mark Lively and Brendan Maddigan); and a 10-unit, five-story multifamily building at 345 W 84th St for $3.2M (broker: Hall Oster).

LEASES

The Chefs’ Warehouse signed a 35-year, 234k SF lease at 200-240 Food Center Dr, Hunts Point, Bronx. Dairyland USA Corp, a subsidiary of the company, already leases 55k SF there. The tenant plans to invest $15M to $20M to renovate an existing 176k SF building on the site and activate a previously unused 58k SF rail shed into cold storage and office space.

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Fairway Market inked a 42k SF lease at 542-580 Second Ave. RKF’s Robert Futterman and Gary Alterman repped the tenant, while Cushman & Wakefield’s David Green repped owner DFD Development. It’s scheduled to open in November.

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600 Lexington Ave saw five deals: F5 Networks’ 10-year, 12k SF lease (tenant rep: Cresa’s Bob Stella); Herbert Mines Associates’ 10-year , 11k SF lease (tenant reps: CBRE’s Clyde Reetz and Yuan Tang); LibreMax Capital’s seven-year, 8,900 SF lease (tenant reps: JLL’s Cynthia Wasserberger and Ryan Masiello); Caplin & Drysdale’s 10-year, 8,900 SF lease (tenant rep: Transwestern’s James Millard and Jonathan Schifrin); and Intermediate Capital Group’s 10-year, 6,800 SF lease (tenant reps: CBRE’s David Hollander and Sam Sieller). JLL’s Paul Glickman, Frank Doyle,Mitti Liebersohn, Alexander Chudnoff, Diana Biasotti, and Ben Bass repped owner SL Green in each deal.

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Stack Exchange signed an 11-year, 30k SF lease at 110 William St.Jonathan Blum repped the tenant, while owner Swig Equities was repped in-house by Jonathan Deal and McDermott Will & Emery’s Bill Stempel.

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Amazon Corporate expanded by another 25k SF at 1350 Avenue of the Americas, bringing its total commitment to 92k SF. Cresa’s Justin Halpern and Marcus Rayner repped the tenant, while Howard Tenenbaum and Gary Rosen repped owner SL Green in-house.

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NAI Friedland brokered four Bronx deals: WLJ Equtities’ 10k SF lease at 1163 Leggett Ave (broker: Tony Lembeck; landlord: ST 1 Realty); Blackridge Construction’s 5,000 SF lease at 1162 Grinnell Pl (brokers: Lembeck and Jeffrey Clinton; landlord: ST 1 Realty);American 99 Cent Store’s 3,200 SF lease at 1674 Macombs Ave(broker: Lou Klein for LB Financial); and MK Brick Oven Pizza’s 1,800 SF lease at 122 Westchester Sq (landlord: Chatham Management).

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1040 Avenue of the Americas saw two deals: InterMedia Outdoors’ seven-year, 9,000 SF lease (tenant rep: CBRE’s Brad Needleman and Jared Silverman) and Macro Consultants’ 10-year,9,900 SF expansion. Newmark Grubb Knight frank’s Billy Cohen and Ryan Kass repped owner Skyline Developers.

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Vox Media signed a 17k SF lease at 104 W 40th St. JLL’s Steven Rotter and Jeffrey Fischer repped the tenant, while CBRE’s Paul Amrich, Michael Movshovich, and Neil King repped owner Savanna.

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Staples signed a 16k SF lease at 641 Sixth Ave. SCG Retail’s Chase Welles repped the tenant, while RKF’s Robert Futterman,Gary Alterman, and Ross Berkowitz repped owner Atlas Capital. More deals after a word from our sponsor.

WASHINGTON DC 06.27.2017

THE WASHINGTON DC STATE OF THE MARKET

Matt Bronfman
Jamestown Properties
Anthony Lanier
EastBanc
Herb Miller
Western Development