Contact Us
News

THE DEAL SHEET

THE DEAL SHEET
BIG DEALS!
Vornado signed a 20-year lease with Host Hotels & Resorts to allow Vornado to redevelop the retail and signage components of the Marriott Marquis. Vornado will spend as much as $140M to redevelop and expand the existing retail space, including converting the below-grade parking garage into high-end retail space and creating LED signage spanning over 300 linear feet.***Daffy's StorefrontPursuant to an agreement with Daffy’s, which commenced a voluntary Chapter 11 filing, JEMB Realty Corp has agreed to purchase Daffy’s leasehold interests, certain retail estate fixtures, and certain intellectual property. In addition, a separate affiliate of JEMB agreed to purchase three properties from Daffy’s for an undisclosed price.

SALES
40 Mercer St, New York, NY
Savanna snapped up 14k SF of at-grade and below-grade retail space at 40 Mercer St, a luxury residential condo building, from GLL Real Estate Partners for $57M. The deal was financed with a $42M acquisition loan from Mesa West Capital and equity from Savanna Real Estate Fund II. Studley’s Woody Heller, Will Silverman, and Eric Negrin brokered the deal.***

DelShah Capital acquired the title to 53-59 Gansevoort St from GHC NY Corp for an undisclosed price following weeks of legal wrangling with tenant Robert Romanoff, who along with Essex Capital, had submitted a $33M bid for the property. The property has 10k SF of commercial space and 10k SF of retail space.

***

Besen & Associates brokered four deals: Stevenson Towers, a 122-unit, six-story elevator building at 831 Bartholdi St, the Bronx, for $14M (seller rep: Matthew Slonim; buyer rep: Alex Frants); two single-story retail buildings with 40k SF of development rights at 50 and 52-62 Clinton St for $9M (broker: Morris Arlos); three four-story walk-up buildings totaling 29 apartments at 711, 717, and 721 E 228th St, the Bronx for $3.5M (broker: David Bess); and a four-story, 21-unit, mixed-use walk-up apartment building at 835 Home St, the Bronx for $1.3M (seller rep: Lev Mavashev; buyer rep: Jacob Aronov).

***

A local private investment fund purchased two 16-unit, four-story apartment buildings totaling 31k SF at 719-723 8th Ave, Park Slope from a private investor for $12.3M. Marcus & Millichap’s Matthew Fotis brokered the deal.

***

Marcus & Millichap brokered two sales: the 23k SF, mixed-use property at 1023 Lafayette Ave, Brooklyn for $2.9M (buyer rep: M&M’s Naomi Shu; seller rep: Terra Firma International); and a seven-unit apartment building at 2311 Broadway, Astoria for $1.3M(brokers: Matthew Fotis and Lazarus Apostolidis).

LEASES
ABM Industries inked a 29k SF lease at The Fred F. French Building (551 Fifth Ave). JLL’s Rob Martin and Brad Lane repped the tenant, while Brian Feil and Kevin Driscoll repped owner The Feil Org in-house.***

Jump Trading signed a 19k SF lease at 15 E 26th St. JLL’s Gilbert Ohls, Matt Felice, and Matt Carolan repped the tenant, while JLL’s Mitch Konsker, Matthew Astrachan, Matthew Polhemus, and Brittany Wunsch repped owner Savanna.

***

470 Park Ave South saw two deals: Raff & Becke r’s nine-year, 10k SF renewal (tenant rep: Handler Real Estate Org’s Peter Newman) and Civic Entertainment’s seven-year, 9,400 SF lease (tenant rep: Newmark Grubb Knight Frank’s Allen Gurevich). JRT Realty Group’s Greg Smith, John Thompson, and Kate Pezzola repped owner TIAA-CREF for both deals.

***

Charles P. Rogers inked a long-term, 7,700 SF lease at 26 W 17th St. Cushman & Wakefield’s Michael Burgio, Michael Gambino, and Alan Schmerzler repped the tenant, while C&W’s Gene Spiegelman and Michael O’Neill repped owner The Winter Org.

***

LivePerson signed an eight-year, 19k SF lease at 475 Tenth Ave, now occupying 27k SF in the building. The Kaufman Org’s Michael Kaufman and Grant Greenspan repped the tenant, while the Adler Group’s Kristin Fisher repped the owner.

***

Yerman & Associates signed a 15k SF lease at 225 Broadway. Cogent Realty Advisors’ Mitchell Waldman brokered the deal between the tenant and owner 225 Broadway Co.

***

Media3 signed a long-term, 7,300 SF lease at 535 Fifth Ave. Cushman & Wakefield’s Andrew Sachs, Ben Shapiro, Jonathan Fales, and Myles Fennon repped owner The Moinian Group.

***

20 W 55th St saw two deals: The Ottinger Law Firm’s five-year, 3,300 SF lease (tenant rep: Newmark Grubb Knight Frank’s Lauren Davidson) and BGS’s 3,700 SF lease (tenant rep: CBRE’s Scott Bogetti). NGKF’s Billy Cohen and Ryan Kass repped owner Skyline Developers in both leases.

***

5 Hanover Square saw two deals: Magna Group’s seven-year,4,400 SF expansion and extension (tenant rep: Winslow & Co’s Joshua Winslow; landlord reps: Cushman & Wakefield’s Frank Cento and Savanna’s Todd Korren for Savanna); and RGL’s eight-year, 2,800 SF renewal (tenant reps: JLL’s David Welker, Todd Roebken, Gil Ohls, and Matt Felice; landlord rep: Korren).

***

1556 Third Ave saw two deals: Mount Sinai Manhattan Heart’s 4,800 SF lease (tenant reps: Tom Ahn and Glen Dawson, in-house) and Bespoke Education’s 2,100 SF lease (tenant rep: The Manhattes Group’s Adam Kriegstein). Ross Spitalnick repped owner Muss Development in-house for both deals.

***

Isola Trattoria & Crudo Bar, a coastal Italian restaurant, opened in 5,000 SF at the Mondrian SoHo.

***

Smashburger is opening in 2,300 SF at the Post Road Plaza shopping center in Pelham Manor.

***

H&H Bagels signed an 1,800 SF lease at 125 Fulton St. NYCRES’s James Famularo repped the tenant.

***

James S. Mitchell & Sons inked a three-year, 1,700 SF lease at 347 W 36th St. NSNYRE’s Carlo Catuogno repped the tenant, while Winoker’s Barry Bernstein and Howard Epstein repped the owner.

***

Riverside Risk Advisors signed a five-year lease for the top floor at 519 Eighth Ave, which includes a private roof deck. The Kaufman Org’s Stephen Benoit repped the tenant, while his colleagues Barbara Raskob and Steve Kaufman repped the owner.

FINANCING

CWCapital arranged $46M in new financing for a Class-A, mixed-use building on the Upper West Side. The loan was arranged by Todd Trehubenko and Rockwood Real Estate Advisors’ Andre Dobrowsky, as well as Principal Global Investors.

***

GCP Capital Group arranged: $6M for a 66-unit, six-story elevator apartment building on West 215th Street and $3.5M for a 12k SF commercial building on Sutphin Boulevard, Queens (both arranged by Paul Greenbaum); a $3.5M construction loan for a 24-unit, four-building garden-style apartment that will be developed in West Babylon, Long Island (arranged by Matthew Classi); and $2M for a 35-unit, five-story walk-up apartment building on West 170th Street(arranged by Adam Brostovski).

***

Meridian Capital Group’s Shamir Seidman negotiated $6M on behalf of Sugar Hill Capital Partners for the previously announced purchase of 50 Orange St (pictured) and 161 Columbia Heights in Brooklyn from the Watchtower Bible and Tract Society of New York.

CONSTRUCTION & DEVELOPMENT HFZ Capital Group commenced pre-developing planning for the proposed development and conversion of the recently acquired 10-story, 122k SF office building at 11 Beach St into luxury residential condos. The team includes Joy Construction, New Valley, and Douglas Elliman Development Marketing.

BUSINESS

Waterfall Asset Management acquired Coldwell Banker Commercial Hunter Realty, which will now do biz as Coldwell Banker Commercial Alliance, an independently owned and operated affiliate of the CBC franchise system. The firm will now focus on future expansion in major markets across the US under the leadership of CEO Obie Walli and prez Bruce Weissberg. CBC Hunter owners Peter Sabesan and Richard Selig will remain on board.