Jimmy’s Mustache & Jonathan’s Deals
NGKF president Jimmy Kuhn (right) has grown a mustache, no doubt to be more like Fried Frank real estate chair Jonathan Mechanic. Or it could be to solidify his rock star cred in time for his band Square Feeet’s gig this Thursday at 8:30pm at The Red Lion (151 Bleecker). The pair were snapped at NYU School of Professional Studies Schack Institute of Real Estate’s Evening of Monopoly fundraiser last week. Jonathan is busy with his usual ho-hum megadeals: Anbang Insurance Group’s $2B acquisition of the Waldorf Astoria, Vornado and Crown Acquisitions’ $700M purchase of the retail condo at the base of the St. Regis, and Atlas Capital Group, Square Mile, and USAA’s $357.4M acquisition of LA landlord Evoq.
Avison Young’s Steve Kurtz, with colleague Amanda Saltzman, tells us their firm has signed on with several owners between 23rd Street and Hudson Yards to re-evaluate value and redevelopment potential. Amanda says a lot of the AY investment banking group’s business of late has been arranging capital for development, including a recent $44M construction loan for an apartment project and Senegal consulate on 44th Street between Second and Third.
And here’s Streamline Realty Funding’s Felix Rivera and John Felletter, whose company launched just over a year ago. It finances acquisitions, recaps, and repositionings nationwide, the most recent a $12M bridge loan for a 158-unit Houston apartment building that was falling short on its debt-service but is leasing below market value.