Contact Us

This Week's N.Y. Deal Sheet

This week RXR Realty scored nearly $1B in financing, WeWork bagged a slew of leases throughout Manhattan and CIM Group picked up a luxury rental on the Upper East Side.


Tishman Speyer's The Spiral scored a $1.8B construction loan in 2018.

Tishman Speyer’s 66 Hudson Blvd. locked down another major lease, announcing AllianceBernstein taking 189K SF in the planned building, known as The Spiral

The lease is for 20 years, Tishman Speyer announced, and the company will move into the Far West Side building in 2025. The company announced last year it is moving its headquarters to Nashville, while keeping a smaller presence in Manhattan. Newmark Knight Frank’s Neil Goldmacher, Jared Horowitz and Brian Goldman brokered the deal for the tenant. Tishman Speyer was represented in-house.


The We Company has signed deals for four new locations for its HQ by WeWork offering. WeWork inked a deal for 26K SF at the ELK Investors-owned 33 East 33rd St. Erik Harris was the broker.

At EQ Office-owned 44 Wall St., it is leasing 17K SF. The landlord was represented in-house by Scott Silverstein and by a leasing team at CBRE.

It took nearly 11K SF at George Comfort & Sons and ASB Real Estate Investments’ 7 West 18th St. The landlord was represented by in-house brokers Matt Coudert and Alex Bermingham.

It is also taking 45K SF at 1410 Broadway, owned by L.H. Charney Associates. Rick Doolittle and JP Howard of MHP Real Estate Services represented WeWork and the landlord in the transaction.

The We Company plans to have 270 HQ by WeWork locations around the world by the end of the year.


32 Old Slip

RXR Realty locked down a $404M floating-rate loan for the refinancing of its Lower Manhattan building 32 Old Slip. Mesa West Capital was the lender. The financing was arranged by NKF’s Dustin Stolly and Jordan Roeschlaub, along with Nick Scribani, Chris Kramer and Dylan Kane.


Nuveen Real Estate provided $375M to RXR Realty and Youngwoo & Associates to refinance Pier 57, Commercial Observer reports. The loan replaces a $225M redevelopment loan from PNC. Simon Ziff and Russell Schildkraut of Ackman-Ziff brokered the deal.


Flag Luxury Group scored a $125M preferred equity investment through EB-5 financing for the planned Ritz-Carlton in NoMad, The Real Deal reports. The planned hotel at Broadway and 28th Street would have 250 rooms and 16 residences.


Related and GreenOak Real Estate scored a $75M loan from Colony Credit Real Estate for the Blanchard Building at 21-09 Borden Ave. in Long Island City, The Real Deal reports. The loan replaces more than $64M in debt provided by TPG Real Estate Finance Trust in 2016.


Covenant House scored $61M from Goldman Sachs’ urban investment group to renovate its shelter at 540 10th Ave., Commercial Observer reports. The charity is knocking down the building and putting up a new 12-story structure. Gotham Organization will lead the development.


Muss Development and partner HomeFed Corp. scored $90M from LoanCore Capital Markets to refinance the office part of the Brooklyn Renaissance Plaza, according to a release. The mixed-use complex at 335 Adams St. spans 1.5M SF with office, retail, a 667-room Marriott hotel and a four-story parking garage.


RFR Holdings locked down $67M from Mack Real Estate Credit Strategies to buy the Chrysler Building, Commercial Observer reports. The company, with partner Signa Holding GmbH, is reportedly paying around $150M for the iconic building.


165 East 66th St.

CIM Group paid $200M for the residential part of the rental tower at 165 East 66th St., The Real Deal reports. The seller, Miami-based developer Crescent Heights, is keeping the retail portion of the building. KSR’s Bunny Escava and Nicholas Wiggins represented the buyer. Marcus & Millichap’s Joe Koicim brokered the deal for the seller.


Treetop Development paid JDS Development Group $33M for the Saltmeadow development in Far Rockaway. The complex on Beach Fifth and Beach Sixth streets features 30 townhouses and 60 rental apartments, The Real Deal reports. Westwood Realty Associates’ Steven Vegh brokered the deal for both sides.


The Elad Group bought three commercial units at One West End from Silverstein Properties for $51M, using several limited liability corporations, The Real Deal reports. Elad and Silverstein developed the building at 11th Avenue and 59th Street, which has 245 condominiums and 116 affordable units.

Related Topics: RXR Realty, CIM Group, WeWork