This Week's N.Y. Deal Sheet
It was another quiet week in New York's deal-making world, but an affordable housing developer picked up a Manhattan building, SL Green refinanced one of its office properties and a few small office and retail leases were consummated.
TOP FINANCING DEALS
SL Green took out a $220M loan from Wells Fargo to refinance its 37-story, 385K SF office building at 10 East 53rd St. Walker & Dunlop's Aaron Appel, Keith Kurland, Jonathan Schwartz and Adam Schwartz arranged the financing. SL Green bought the building for $252.5M in 2012.
Eric Miller scored $40M in loans for multiple Brooklyn properties from New York Community Bank, PincusCo reports. The largest was for the residential property at 2110 Westbury Court in Prospect Lefferts Gardens, which totaled $12.8M. At 10 Midwood St., Miller reeled in $10.9M, and for 1633 Sterling Place in Crown Heights he locked down $9M. At 779 Rogers Ave. in Flatbush, he secured $7.4M.
Stars REI took out a first-time loan of $17M on three of its multifamily properties on 126th Street in Harlem totaling 56 units, PincusCo reports. Signature Bank originated the loans for the parcels, which Stars bought in 2018 for $34.3M. The properties are at 556 West 126th St., 560 West 126th St. and 564 West 126th St.
Affordable housing developer Jonathan Rose Cos. paid Starrett $93.8M for a building at 65 West 96th St., The Real Deal reports. The 217-unit tower is in-part designated Section 8 housing. Starrett Corp. built the property in 1971 but faced accusations of mismanagement in recent years.
Cofinance Group SA's U.S subsidiary, Cofinance Inc., paid $10.9M for two neighboring properties in Midtown East, JLL announced. GAK Properties sold the buildings at 219-221 East 59th St., which are both three-story, free-market properties with residential and retail space. JLL’s Tom Gammino, Clint Olsen, Albert Mamiye, Connor Murphy, Jeremy Simon and Chris Skitch represented the seller. Kassin Sabbagh Realty’s Jeffrey Znaty represented the buyer.
The White Gown, a wedding dress shop, signed a 2,500 SF lease at 62 Grand St. in SoHo according to Meridian Capital broker James Famularo, who arranged the deal the landlord Slavik Gofman. The asking rent was $15K per SF and Meridian’s Greg Goldberg acted for the tenant in the deal, Commercial Observer reports. Goldberg also represented Stratis Morfogen’s Brooklyn Chop House in its 500 SF lease at 131 First Ave., owned by Hubb NYC, which Famularo represented in the deal.
Warner Music Group’s entertainment and pop culture news website UPROXX leased 3,300 SF at Marx Realty’s 161 Bowery, the landlord announced. The asking rent in the deal was $81 per SF, and the company is moving from subleased space within the building. There were no brokers on the deal.
CORRECTION, APRIL 14, 9:00 P.M. ET: Greg Goldberg is a broker at Meridian. An earlier version of this story misspelled his name. This story has been updated.