This Week's N.Y. Deal Sheet
A short week from the holidays means a short Deal Sheet, with only a handful of deals that crossed the wire around the holiday.
Asset manager Janney Montgomery Scott is moving within Midtown as it expands its footprint. The firm is moving to part of the 21st floor of 1166 Sixth Ave., the 1.8M SF tower partly owned by Edward J. Minskoff Equities, where it will occupy 35K SF. JLL's Jim Wenk and Mitchell Marcus represented the tenant, while colleagues Paul Glickman, Cynthia Wasserberger, Jonathan Fanuzzi and Diana Biasotti represented the landlord, along with in-house broker Jeffrey Sussman. Asking rents in the office condo from the second to 21st floor are around $80/SF.
Also in Midtown, the Rudin family signed a full-floor lease with tenant Spielman Koenigsberg & Parker for 1675 Broadway. The accounting firm will move its headquarters to the 27K SF 20th floor of the 35-story 850K SF Midtown West office tower. Spielman plans to move just down the road from 1745 Broadway in June. SL Green's Howard Tenenbaum and Gary Rosen represented the tenant while Rudin Management's Robert Steinman represented the landlord in-house.
Kiddie Academy, the early childhood education company with outposts in Brooklyn, Queens and the New York suburbs, has made its way into Manhattan. The school has signed a 13,500 SF lease in Tribeca at 70-72 Reade St. in a property being renovated into luxury condos above mixed-use by developer ML7. Colliers International's Timothy G. Pond, Matthew Kuchar and Jordan Baruch represented Kiddie Academy, and RKF's Andrew Stern and Scott Zinovoy represented RKF.
The residential development site at 300 West 122nd St. in Harlem has changed hands after more than a year's worth of bankruptcy and foreclosure proceedings. Lender RWN Real Estate Partners closed on its $48.6M purchase of the site from its borrower, Hans Futterman, after a September foreclosure auction did not draw bids higher than the outstanding debt. RWN's Ari Shalam told The Real Deal in September that taking control of the property was "an unfortunate outcome." Futterman had planned to build a 12-story, 205K SF condominium building, but the development site's future remains unclear.
Malek Management and Coney Realty Group have closed on their purchase of a two-building East Flatbush portfolio in Brooklyn for a combined $26.5M. The buildings, at 787 East 46th St. and 1261 Schenectady Ave., have a combined 127 apartments between them. Malek and Coney bought the properties from fellow small Brooklyn firm Samjo Realty Corp.
Two other borough apartment buildings traded hands in the Bronx. Camber Property Group, LIHC Investment Group and Belveron Partners combined to acquire 820 and 880 Thieriot Ave. in the Soundbridge neighborhood of the Bronx for $19M. The group purchased the two buildings with 314 units from Starrett Corp., which has owned them since their construction 49 years ago.