Contact Us

This Week's N.Y. Deal Sheet

While the Amazon HQ2 announcement continued to dominate the news cycle, there were still several deals last week. Cove Property Group scored a major tenant for its West Side office building and Jonathan Rose Cos. bought a big housing complex in Queens. 


Rendering of 441 Ninth Ave.

Home cycling equipment company Peloton is setting up its new headquarters in 312K SF at Cove Property Group’s 441 Ninth Ave., according to Newmark Knight Frank, the brokerage that arranged the deal for the tenant. The company will move into the 700K SF building in 2020 and will take floors four through 10, as well as the basement. Newmark Knight Frank’s Benjamin Birnbaum and Ben Shapiro brokered the deal for Peloton. CBRE’s Steve Siegel, Evan Haskell, Paul Haskin, James Ackerson and Benjamin Joseph handle leasing at the property.


Law firm Moses & Singer has renewed for 74K SF at the Chrysler Building, according to Colliers International. The deal is for 15 years, and the firm will stay within the entire 12th and 13th floors. Colliers’ Michael Cohen, Robert Tunis, Eric Feriello and Jessica Verdi represented the tenant. Landlords Tishman Speyer and the Abu Dhabi Investment Council were represented in-house.


Fintech firm Broadridge Financial Solutions leased 85K SF at Fisher Brothers’ 605 Third Ave., the landlord announced. The company will take space across the 39th through 42nd floors, and will move there in January 2020. Paul Amoruso and Michael Ciotta of Oxford & Simpson represented Broadridge. The landlord was represented in-house by Marc Packman and Clark Briffel, along with Cushman & Wakefield’s Bruce Mosler, Louis D’Avanzo, Andrew Ross, Michael Baraldi and Maria Travlos. The lease brings the building to 93% leased following a major renovation.


9000 Shore Road

Jonathan Rose Cos. joined with the NHP Foundation and Nuveen — the investment manager of TIAA — to pay about $150M for  a 558-unit HUD project-based Section 8 Housing complex in Bay Ridge. The seller is NYU Langone, according to a release from Jonathan Rose. The property at 9000 Shore Road has two towers that are connected, together spanning 414K SF. The purchase was funded by a $104M Freddie Mac loan.


SDG Management paid $21.8M for 3661 Broadway, a Hamilton Heights apartment building. The seller is Bruce Haley, The Real Deal reports. The property features 56 apartments and six commercial units.


Rendering of Essex Crossing, a Manhattan project Taconic Partners is co-developing.

Delancey Street Associates — a joint venture of BFC Partners, L+M Development Partners, Taconic Investment Partners, the Prusik Group and the Goldman Sachs Urban Investment Group — scored $161M for a mixed-use building at the Essex Crossing development. Wells Fargo provided a $93M loan for the residential portion of The Rollins, at 145 Clinton St., and Goldman Sachs provided a $68M CMBS loan for the commercial part of the building. The 16-story building features 211 units and has leased space to Trader Joe’s and Target.


Newmark Knight Frank provided a $269.1M loan to the Blackstone Group for its purchase of the Parker Towers complex in Queens, The Real Deal reports. The financing includes a new loan of $104.1M and an existing loan — provided by Berkeley Point Financial, recently folded into NKF — of $165M. NKF’s Jordan Roeschlaub, Dustin Stolly and Stephan Gianopolus arranged the financing.


New York Community Bank provided $75M to Mayore Estates for the office building at 22 Cortlandt St., The Real Deal reports. Investor Moshe Drizin leads the partnership. The loan includes a $10M gap mortgage and replaces a $65M loan from the same bank.


MUFG Union Bank loaned $150M to SL Green for 2 Herald Square, The Real Deal reports. SL Green bought the leasehold of the office building in May when it was foreclosing on it as the property lender.


Mack Real Estate Credit Strategies provided $77.5M to Iranian-Israeli fashion designer Elie Tahiri to refinance 88 University Place, Commercial Observer reports. The office portion of the 11-story building is leased to WeWork, which has subleased it to IBM. Meridian Capital Group arranged the financing.