LEASES
The 76k SF former Globe Storage Building at 80 Hudson Ave in Vinegar Hill, Brooklyn, has been leased for 20 years to First Meridian Mortgage’s David Brecher, who is looking for a high-end subtenant, according to The Real Deal. The rent on the space hasn’t been released.
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WeWork signed its first-ever deal for space in Queens, taking 52k SF at 35-37 36th St in LIC, for 15 years. WeWork repped itself in-house. JRT Realty Group’s Greg Smith, Ellen Israel and Kristen Morgan, alongside Cushman & Wakefield’s Ethan Silverstein and Corey Horowitz, repped the landlord, Vanbarton Group.
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One Kings Lane signed a 52k SF lease at 315 Hudson St. Douglas Elliman Commercial’s Peter Gross repped the tenant. Brett Greenberg and Dennis Brady repped the landlord, Jack Resnick & Sons, in-house. Asking rents at the building are in the mid-$70s/SF.
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Elite Daily’s taking 22k SF at 53 West 23rd St. JLL’s Alexander Chudnoff, Mitchell Konsker and Brittany Wunsch repped the tenant and Adams & Co.’s James Buslik and Alan Bonnett repped the landlord, alongside CBRE’s Sacha Zarba.
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Teknion is taking 22k SF at 635-41 Sixth Ave. CBRE’s Brad Needleman, Chris Mansfield and Alexander Golod repped Teknion. Jeremy Bier and Larry Swiger repped the landlord, SL Green, in-house.
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Citco, a company known for providing investment support services, is stepping into the co-working space with a 20k SF sublease from Ziff Brothers at 350 Park Ave.
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Prometric signed an 11,600 SF lease at Jamestown’s 1250 Broadway. DTZ’s Jonathan Schindler and Jamie Smith repped Prometric. Cushman & Wakefield’s Mitch Arkin, Justin Royce and Adam Nelson repped Jamestown.
Schnipper's signed a 3,300 SF lease at 120 Church St. Winick Realty Group’s Steven Baker repped the eatery. RKF’s Ross Berkowitz and Andrew Stern repped the landlord, Clipper Equity.
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Adidas signed a 10-year, 5,218 SF lease at 115 Spring St. RKF’s Jeremy Ezra repped the tenant. RKF’s Ariel Schuster and Ross Berkowitz repped the landlord, SL Green.
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Two new leases closed at 452 Fifth Ave. Varadero Capital inked a 10-year deal for 7,636 SF, and Triangle Capital Group committed to a 10-year term for 7k SF. Newmark Grubb Knight Frank’s Brian Goldman and Matthew Lorberbaum repped Varadero, and JLL’s Howard Hersch repped Triangle. A JLL team of Paul Glickman, Jonathan Fanuzzi and Michael Higgins repped the landlord, PBC USA.
FINANCING
JP Morgan Investment Management closed on a $180M non-recourse acquisition and pre-development bridge loan for 787 11th Ave, an eight-story, 470k SF car dealership and service facility previously owned by Ford. The Georgetown Co was the borrower. CBRE’s debt and structured finance team’s Jason Gaccione, Shawn Rosenthal and Michael Sherman brokered the debt for the borrower alongside Ackman-Ziff’s Russell Schildkraut.
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Cushman & Wakefield closed on a $104M land loan for a nine-parcel, 780k BSF development site in LIC. Cushman’s Morris Betesh brokered the financing.
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CIT closed on a $48M construction loan to Bhatia Development and Sherwood Equities for the development of a 16-story, 16-unit condo tower at 10 West 17th St. The loan carries a three-year term with two one-year extension options. Cooper-Horowitz’s Richard Horowitz brokered the financing.
