This Week's NY Deal Sheet
Fox and News Corp sent a shockwave through the Lower Manhattan office market on Friday when it was revealed they’ll be staying at 1211 and 1185 Sixth Ave in Midtown instead of anchoring 2WTC.
The media companies signed a joint, non-binding LOI for a 1.3M HQ space at the building, which is in the early stages of construction, in June. The space would have been nearly half the rentable space in the building. A move on such a large scale could be “distracting in the near-term,” a statement distributed to Fox and News Corp employees on Friday said. The companies’ leases extends through 2020, but their lease has an extension option that can let them stay until 2025. The decision comes after Fox stocks have plummeted 24% since August.
MORE LEASE NEWS
Crown Acquisitions signed a 99-year ground lease for a 250k SF property at 136-62 Roosevelt Ave in Flushing, Queens. Colliers International’s Robert Freedman and Steve Chasanoff repped the landlord, Benider Co. Macy’s is the current tenant at the property. A spokesperson for Macy’s tells the Wall Street Journalthe retailer has no plans to close the store. Macy’s will close 6M SF in retail space this spring when it shutters stores in 20 states.
DLA Piper signed a lease to stay in its 196k SF spread at 1251 Sixth Ave. Newmark Grubb Knight Frank’s David Falk and Peter Shimkin repped the landlord, alongside Christopher Perez, who repped the landlord, Mitsui Fudosan, in-house.
The NYC Department of Finance signed a 175k SF lease at the former Verizon Building at 375 Pearl St. A CBRE team led by Gerry Miovski, Gregg Rothkin and Zakery Snider repped the landlord, Sabey Data Centers.
The Yard, a co-working provider, signed a 34k SF lease at 116 Nassau St. Colliers International’s David Kaplansky repped the tenant. Coldwell Banker Commercial Alliance’s Gregory Gang, Catherine O’Toole and David Danick repped the landlord, Abacus Federal Savings Bank.
UTA signed a 28k SF expansion lease at 888 Seventh Ave. The talent and literary agency currently has 15k SF in the building. JLL’s Mitch Konsker, Alexander Chudnoff and Benjamin Bass repped the tenant. Jared Solomon repped the landlord, Vornado, in-house.
Alkeon Capital Management signed a 23k SF lease at 350 Madison Ave. CBRE’s Sinclair Li and Ryan Alexander repped the tenant. JLL’s Alexander Chudnoff and Mitch Konsker repped the landlord, RFR.
Medallion Financial Corp renewed its 19k SF lease at 437 Madison Ave. Newmark Grubb Knight Frank’s Paul Davidson and William Mendelson repped the tenant. Sage Realty Corp’s Michael Lenchner repped the landlord, The William Kaufman Organization.
CVS signed a 7k SF lease at 292 Madison Ave. Newmark Grubb Knight Frank’s Jason Pruger, Ross Kaplan and Trever Gallina repped the tenant. The landlord, Marciano Investment Group, was repped by Newmark Grubb Knight Frank’s Jeffrey Rosemen and Nevin Danziger.
Poulette signed at 1k SF lease for its third NYC location at 304 East 49th St. Eastern Consolidated’s James Famularo and Ravi Idnani repped the tenant. Brett Weinblatt repped the landlord, Solil Management, in-house.
Invesco has tapped Robert Deckey to head up its NY acquisitions division. Robert was previously with George Comfort & Sons, serving most recently as CIO. Previously, he was at Citigroup and at JPMorgan, where he served as a VP of real estate investment banking.
HFZ Capital has brought on Alicia Goldstein as senior managing director and president of sales and marketing. It’s a newly created position. Before joining HFZ, Alicia spent three years at Faena, a development firm named for Argentinian developer Alan Faena.
Eastern Consolidated has promoted James Famularo and Matthew Sparks to principal. James has done over 600 leases for F&B establishments over his 15-year career in commercial real estate. Matthew’s recent deals include the Washington Heights Portfolio, nine mixed-use elevator buildings with 413 apartments and 48 retail stores, which had an asking price of $185M.
CW Capital sold the Riverton apartment complex at 45 East 135th St and 10 East 135th St to Douglas Eisenberg’s A&E Real Estate Holdings for $200.85M.
McDonald’s Corp closed on the sale of 427 Tenth Ave to Related Cos for $152.2M. The site will become part of the Hudson Yards development.
Broadway Landmark Corp sold 490 Broadway to Ponte Gadea New York LLC for $140M.
Thirteenth Street Repertory Co and William Obeid sold 50 and 52 West 13th St to 52 WEST 13TH P LLC for $78M.
Thor Equities closed on the sale of a retail condo at 445 Fifth Ave to Harbor Group International for $68M. (Pictured: Thor Equities CEO Joe Sitt.)
The Chetrit Group and Cornell Realty Management closed on the sale of 251-253 West 34th St for $409.75M.
LS Owner LLC sold 216 Fifth Ave to Fifth Ave Gateway Land LLC for $32M.
215-219 West 145th Street LLC sold 2492-2494 Adam Clayton Powell Junior Blvd and 215 West 145th St to RH 200-219 West 145 Street LLC for $27M.
The Landsman family sold 6 Green St to Ben Shaoul’s Magnum Real Estate Group for $24M.
Santander Bank sold a retail condo at 195 Montague St in Brooklyn to The Treeline Cos and Long Wharf Property Partners for $20.75M.
[Top sales data courtesy of Reonomy]
TOP FINANCING DEALS
Nataxis Real Estate Capital closed on a $165M loan to World Wide Group for 41-42 24th St, a residential tower also known as QLIC.
Whiteacres Loan Acquisition closed on a $159M loan to Forest City Ratner for 1 Metrotech Center in Brooklyn.
Wells Fargo closed on a $135.7M loan to 500 Lincoln LLC for 505 West 38th St.
Signature Bank closed on a $135M loan to A&E Real Estate Holdings for the Riverton apartment complex at 45 East 135th St and 10 East 135th St.
Bank of America closed on a $95M loan to Related Cos for 511 West 33rd St. The site will become part of the Hudson Yards development.
[Top financing deals data courtesy of Reonomy]