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This Week's NY Deal Sheet

It’s been in the works for a while, and now ink has met page on RXR’s purchase of the Helmsley Building at 230 Park Ave from Monday Properties and Invesco for $1.2B.

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The 34-story, 1.4M SF trophy office building is just the latest in a year that’s seen several 10-figure office building trades. Monday and Whitehall Real Estate picked up the building in 2007 for $1.15B, and in 2011, Invesco took over the minority stake from Whitehall. Almost $200M has gone into modernization efforts since 2002. RXR chairman and CEO Scott Rechler tells the Wall Street Journal he intends to invest even more in the building to create more retail and office space. Scott will be keynoting Bisnow’s 6th Annual NYC Capital Markets Summit on June 10.

EXECS

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WiredScore has brought on Aaron Meyerson as its new director of business operations. He’ll support WiredScore’s national expansion efforts. Before joining WiredScore, Aaron was AVP at the NYCEDC.

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Cushman & Wakefield has brought on Laurence Carroll as a senior associate in its NYC office. Prior to joining Cushman, Laurence was a broker with Vortex Group, where he focused on repping tenants. Before that, he was a commercial construction project manager. Laurence relocated to the US from Ireland in 2007.

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HAP Investments has brought on Doni Blumenthal as a financial analyst. Doni comes to HAP from Meridian Capital, where he had a hand in arranging $950M in commercial real estate financing deals.

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Avison Young’s promoting three junior members of its NYC office to the rank of director. David Cohen, Peter Rotchford and Amanda Saltzman each joined the firm about two and a half years ago. They’ll work in a range of capacities, from leasing brokerage to arranging financing.

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SALES

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Lightstone Group sold 1407 Broadway, a 42-story, 1.1M SF office building at the corner of 41st Street to Shorenstein for $330M. Savills Studley’s Woody Heller, Will Silverman and Eric Negrin advised the sellers on their leasehold and sub-leasehold. Holliday Fenoglio Fowler also repped the sellers.

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Morgan Stanley sold the 655-room Marriott East Side at 525 Lexington Ave to the German firm Deka Immobilien and its JV partner, Ashkenazy Acquisition Corp., for $270M. Savills Studley’s Robert Stamm repped Deka.

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TIAA-CREF picked up 250 North 10th St, a 234-unit rental building in Williamsburg, from LCOR and the California State Teachers Retirement System, for $169M. LCOR and the CSTRS paid the Rabsky Group less than $20M for the site in 2011, according to Crain’s. HFF’s Andrew Scandalio repped both sides.

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Anbau Enterprises bought a development site at 207 West 79th St for $39M. Eastern Consolidated senior director George Moss repped the buyer, and senior director and principal Deborah Gutoff repped the seller, 79th Street Associates LLC. The developer plans to demolish the existing 13-story building and make use of the 60k BSF the site’s zoned to allow.

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Jonas Equities paid $14.1M for 15 Crooke Ave in Prospect Lefferts Gardens. The seller was Chester Associates, according to The Real Deal. GFI’s Erik Yankelovich repped the buyer.

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Thor bought 50 Bond St, a 6,400 SF, two-level residential building in Noho, for $11M, from Stewart & Sons. RKF’s Brian Segall repped both sides.

LEASES

Bank of America signed a 200k SF lease at RXR’s 75 Rockefeller Center. CBRE’s Bob Alexander repped BofA. Cushman & Wakefield’s Bruce Mosler repped RXR.

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Valley Hospital signed a 10-year, 74k SF lease at Mack-Cali Centre III in Paramus, NJ. Cushman & Wakefield’s Robert Rudin repped the tenant. Chris DeLorenzo repped Mack-Cali in-house.

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Centerbridge Partners is renewing and expanding in RFR’s 375 Park Ave. The private investment firm will grow to 47k SF in the building. Newmark Grubb Knight Frank’s Brian Goldman and Neil Goldmacher repped Centerbridge. Steve Murrows repped RFR in-house.

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IBM signed a 25k SF lease to take the last remaining space in Ed Miskoff’s 51 Astor Place. IBM now has a grand total of 144k SF in the building, which was done all-spec, and opened in 2013. JLL’s Paul Glickman team repped the landlord.

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Compass signed a 13k SF lease at RFR’s 90 Fifth Ave. Compass now has a total of 63k SF in the building. Cushman & Wakefield’s Mark Mandell and Ethan Silverstein repped Compass. RFR’s AJ Camhi repped the landlord in-house.

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Foot Locker signed a new lease for its flagship store at 112 West 34th St. Footlocker had been on three floors and the new lease consolidates its space to 32k SF on the ground floor and second floor. JLL’s Rob Martin repped Footlocker. ESRT’s Fred Posniak repped the landlord in-house, alongside Cushman & Wakefield’s Joanne Podell (a speaker at our 5th annual NYC Retail Summit on May 12) and Ian Lerner.

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Queens Brewery signed a 7k SF lease at 1539 Covert St in Ridgewood, Queens. KDA’s Jacques Wadler and Vincent Lopez repped the tenant. KDA’s Joel Kohn and Avrum Lieber repped the ownership, Covert Holdings.

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Tarallucci e Vino signed a 2k SF lease for its newest location at 400 Park Ave S, a new mixed-use project being developed by Toll Brothers City Living and Equity Residential. Neal Cabot Ohm repped the tenant. Eastern Consolidated senior director for the retail leasing division Brad Cohen (who'll also speak at our Retail Summit on May 12) repped ownership.

FINANCING

Meridian Capital’s Jacob Schmuckler and Nicoletta M. Pagnotta arranged a $21M, 10-year, interest-only loan for Midboro Management. The loan will serve as a refi for The Riviera, a 12-story co-op building at 157th Street and Riverside Drive. A regional balance sheet lender issued the debt at a 3.35% rate.

Related Topics: Deal Sheet