FINANCING
Silverstein Properties and CalSTRS secured $660M from The Childrens Investment Fund Management (UK) LLP to build the $950M 30 Park Place at Church Street in Tribeca (the 185-key Four Seasons Hotel New York Downtown and 157 Four Seasons Private Residences). Construction will begin in the fall and it'll open in 2016. It'll be the tallest Downtown residential tower at 926 feet (82 stories).
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Meridian Capital's Shimshie Tepper and Barry Lefkowitz arranged the $8.8M refi of a construction loan on the 56k SF, 95% leased James Street Shopping Center at 150 James St in Lakewood, NJ, via a 10-year CMBS loan at 4.43% from Archetype Mortgage Capital.
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Eastern Union Funding's Motti Blau arranged an $8.5M, 10-year refi for a 12k SF commercial property in Manhattan, and the firm's David Eisen negotiated a 10-year, $6.5M refi for a 98-unit apartment property in Brooklyn's Prospect Park.
LEASING
The Travelers Indemnity Co, repped by JLL's Robert Ageloff, renewed 178k SF in SL Green's 485 Lex. JLL's Paul Glickman, Mitti Liebersohn, Diana Biasotti, and David Kleiner repped the landlord.
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Blue Mountain, repped by the Siderow Org's Brad Siderow and RFR's Al Camhi, and Promontory Financial each leased 50k SF in SL Green's 280 Park Ave. CBRE's Mary Ann Tighe, Peter Turchin, Eric Deutsch, Sam Seiler, and Greg Rothkin repped the landlord.
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Beth Israel Medical Center, repped by Cushman & Wakefield's Josh Kuriloff and Jodi Roberts, renewed 35k SF at SL Green's 555 W 57th Street. And Newmark Grubb Knight Frank's Jason Pruger repped CVS in its 21k SF lease at the landlord's 3 Columbus Circle. The Winick Realty Group's Jeff Winick, Kelly Gedinsky, Michael Gleicher, and Lori Shabtai repped the landlord.
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Lenox Hill Hospital/North Shore-Long Island Jewish Health System renewed 70k SF in Jack Resnick & Sons' 110 E 59th St between Park and Lex for 15 years. Dennis Brady repped the owner, and Newmark Grubb Knight Frank's Brian Waterman and Brent Ozarowski repped the tenant.
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ASA College's 160k SF, long-term lease at JEMB's Herald Center at 34th and Broadway, which Bisnow reported in March, has closed. ASA will vacate the first three floors and take 112k SF in the fourth through seventh by June, consolidating classroom and admin space from throughout Manhattan. It'll also have its own ground-floor lobby and entrance. Another 48k SF to become available is also included in the deal. Bobby Dweck repped JEMB.
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The Environmental Defense Fund, repped by Colliers' Alan Desino, leased 44k SF at 257 Park Ave S (the Gramercy Park Building). The Feil Org's Robert Fisher repped the landlord internally.
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Golf & Body NYC has moved in to 25k SF in Atlantic Development's 40-story 883-885 Ave of the Americas residential tower at 32nd St, built in 2010. Newmark Grubb Knight Frank's Daniel Hassett repped the tenant, whose CEO Tom Schiff aimed to develop the first urban country club.
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Orange Business Services sublet 17k SF from Blackboard Collaborate in 10 E 40th St between Madison and Fifth. Orange Business,repped by Colliers' Ted Rotante, is relocationg from Brookfield Place. Studley's Ken Ruderman and Nick Zarnin repped Blackboard.
SALES
Deka Immobilien's Deka Special Fund sold two single-story warehouses (triple-net-leased to Crate & Barrel until 2020) in the Exit 8A submarket of New Jersey. Savills' Robert Stamm advised the seller in cooperation with Newmark Associates.
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The Berger Org's 765 Broad Street Holdings acquired the title for Newark's 200k SF 765 Broad St, anchored by Cablevision, from 765 Henry Associates. Its white marble facade and architecture match Prudential's neighboring world HQ.
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Prism Capital Partners and Angelo Gordon & Co bought the 800k SF Princeton Pike Corporate Center in Lawrenceville for $121M from Brandywine Realty Trust. The eight buildings went up between '84 and '90.
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Dumbo Moving + Storage bought the 80k SF 2001 42nd St in North Bergen, NJ, from 2001 Realty Corp to expand. William Connors of William F. Connors Agency worked on the deal.
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Time Equities bought the 18k SF 655 Fifth Ave (10 residential lofts and a commercial unit) and the 9,400 SF 251 19th St (eight lofts) in South Slope for $8.1M. GFI Realty Services' Rick Helfand and Yanni Simantov repped the seller, a local investor, and their colleague Jeremy Curtin worked with Time Equities' Chris Pulling.
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Cohen Commercial Properties bought the 12k SF 1800 Williamsbridge Rd in the Bronx's Morris Park from Rock City MC LLC for $11M. It's net-leased to Citibank and Walgreens. Cohen's Sam Catton and Paul Trupia repped the buyer, and Newmark Grubb Knight Frank's Ken Zakin and Randall Liberman repped the seller.
Whatever became of that technology China developed for the Olympics to shoo clouds away? Looks like we're gonna need it this week. Email amanda.metcalf@bisnow.com.
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