This Week's NY Deal Sheet
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
Mitsui Fudosan America added two banking tenants at 1251 Sixth Ave., Brooklyn developer Cheskie Weisz closed on a deal to buy two Williamsburg development sites, and the National Bank of Abu Dhabi refinanced the Chrysler building in a slow week for real estate deals.
McGuire Woods is moving into Mitsui Fudosan America's 1251 Avenue of the Americas. The global law firm signed a 15-year lease, taking 42K SF on the 20th floor and a 1,500 SF portion of the concourse level. Terms of the lease were not disclosed but a recent deal in the building went for $110/SF. NGKF brokers Chris Mongeluzo and Brian Cohen represented McGuire Woods, while a separate NGKF team of David Falk, Peter Shimkin, Eric Cagner, Romel Canete and Nick Berger brokered the deal for the landlord.
German bank Berenberg Capital Markets decided to move to the entire top floor of Mitsui Fudosan's building at 1251 Sixth Ave. The 10-year deal for nearly 32K SF in the 53-floor building had JLL broker Benjamin Bass representing Berenberg with JLL's Mitchell Konsker and Alexander Chudnoff representing Mitsui Fudosan. Berenberg has been doing business in the United States since 1883.
United Technologies Corp. is getting a $10M state tax credit to move to Dumbo, Brooklyn. The aerospace and building manufacturer signed a lease to take 67K SF in Midtown Equities' tobacco warehouse-turned-waterfront office space at 55 Water St. The conglomerate plans on investing $300M into the space.
Related Cos. and GreenOak Real Estate are getting the first tenant at their seven-story, 220K SF converted warehouse at 2110 51st Ave. in Long Island City, Queens. VaynerMedia signed a lease to build a new 43K SF production studio in the complex. Asking rents in the building are in the low $40s/SF. Stephen Winter represented the landlord in-house with Brian Waterman of NGKF. Vayner already has space at 10 Hudson Yards, a quick trip along the 7 Line from its new studio.
Macao-based casino owner Lawrence Ho purchased a $65M condo unit in 432 Park Ave. from developers Macklowe Properties and CIM Group.
Developer Cheskie Weisz closed on a deal to buy two Williamsburg, Brooklyn, development sites, 187 Kent Ave. and 50 North 3rd St., from Sam W. Gee for $43M. Weisz filed plans to develop a seven-story, 90K SF building on 187 Kent Ave. in January.
An LLC linked with real estate investor Michael Besen sold apartment buildings at 2220 Amsterdam Ave. and 2224 Amsterdam Ave. to Amsterdam 2220 LLC for $13M.
Sales data provided courtesy of Reonomy
TOP FINANCING DEALS
The owners of the Chrysler Building refinanced for $300M with the National Bank of Abu Dhabi. The loan replaces a $420M loan from Commerzbank. Tishman Speyer and a group of German investors sold 90% of the building to the Abu Dhabi Investment Council for $800M in 2008.
KBS Capital Advisors and Savanna secured a $265M refinancing for a mortgage on 110 William St. in the financial district. The package consists of $205M in a senior loan package and two mezzanine loans each of $30M.
Xinyuan Real Estate's U.S. subsidiary secured a $108M construction loan from Bank of the Ozarks for a new condo project in Hell's Kitchen. The Chinese developer paid $57.5M for the 82-unit project at 615 10th Ave. in November 2015.