This Week's NY Deal Sheet
Cushman & Wakefield Tri-state president Ron Lo Russo will lead Cushman and DTZ’s combined regional office after the impending acquisition of Cushman by TPG Capital, which owns DTZ.
Ron was tapped for the role of Tri-state head at Cushman in February 2013, after serving as VP of leasing at Vornado. DTZ CEO Brett White announced the leadership decision this week at a meeting of Cushman employees. The 98-year-old Cushman name will stay in the Tri-state market after the $2B deal takes full effect. Peter Hennessy now leads the DTZ Tri-state office, a post he’s held since 2010. The Real Deal reports that Hennessy’s in the running for a national role at the new combined Cushman/DTZ.
MORE EXECS
JLL hired Natalie Touzet as a VP in its NYC office. Previously, she was an investment manager with Catalonia Trade & Invest, where she helped companies based in the US and Canada with projects to establish operations in the Catalonia region of Spain. Before that, she was a senior analyst with Kroll, where she managed business intelligence and investigation projects for US, European and Latin American businesses.
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JLL’s tapped Susan Silverman as SVP for its project and development services group in the NYC office. Prior to joining JLL, Susan was an associate with the architecture firm NBBJ, where she oversaw the planning for healthcare projects. She has experience in several aspects of the healthcare field from planning and operations to serving as a nursing school instructor.
SALES
Admiral Capital Group and Four Winds Realty closed on a buy of the Ridge Street Portfolio, three multifamily buildings along Ridge Street on the L.E.S. totaling 64k SF and including three retail spaces. The price came to approximately $50M. Eastern Consolidated senior managing director Deborah Gutoff and principal Ronda Rogovin repped the sellers, Judah Klausner and Richard Freedman.
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Normandy Real Estate Partners, Royalton Capital and Sciame Development jointly closed the acquisition of a development site at 333 Johnson Ave in East Williamsburg, for $27M. The M-zoned property totals 160k SF. Terra CRG’s Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez repped the buyers. Corcoran’s Sydney Blumstein repped the seller.
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HFZ Capital closed on the acquisition of a development site along the Highline for $870M. The close comes after HFZ landed $1B in financing from a group that included JP Morgan, Blackrock and SL Green. The package is 70% debt and 30% equity, according to the The Real Deal. The land buy reportedly closed for $1,100/SF.
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Two contiguous multifamily buildings at 241-245 Ocean Pkwy in Kensington have sold for $10.3M. The $323k PPU price sets a neighborhood record. GFI’s Erik Yankelovich repped both the buyer and the seller.
LEASES
W.B. Mason signed a 10-year, 173k SF lease for its first NYC distribution center at 1150-1170 Commerce Ave in the Bronx. Pinnacle Realty’s James Tack and Fred Stein repped the tenant and the landlord, BNS Real Estate.
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Footlocker signed a 15-year, 36k SF lease for the entire four-level retail space at Himmel + Meringoff and The Swig Co’s 1460 Broadway, aka 8 Times Square. CBRE’s Eric Gelber repped Foot Locker, and Farrell Virga and Jason Vacker repped the ownership in-house.
Footlocker’s moving its 145k SF corporate HQ to 330 West 34th St, for at least 10 years, according to Crain’s. JLL’s Rob Martin and Christine Tong repped Foot Locker. Craig Panzirer and Jared Silverman repped the landlord, Vornado, in-house.
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Norton Rose Fulbright signed a 107k SF lease at 1301 Sixth Ave. NKGF’s Moshe Sukenik, Chris Mongeluzo and Lee Brodsky repped the tenant. NKGF’s Andrew Sachs, Timothy Gibson, Bill Levitsky and Ben Shapiro repped the landlord, Paramount Group.
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PayPal signed a 12-year, 95k SF lease at 95 Morton St. CBRE’s Frederick Fackelmayer, Sacha Zarba, Jeff Black, Ben Friedland and Michael Hirsch repped PayPal. Paul Kotcher repped the landlord, Brickman Associates, in-house.
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Equinox signed a 30k SF lease at 196 Orchard St on the L.E.S. Equinox’s John Mears of repped the tenant in-house. Ripco’s Richard Skulnik repped the landlord, Ben Shaoul’s Magnum Real Estate.
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Eyeview Inc. signed a 19k SF office lease at Moinian’s 60 Madison Ave. NGKF’s Anthony Sciacca repped the tenant. JLL’s Jonathan Fanuzzi and Daniel Kollar repped the landlord, along with Moinian’s Gregg Weisser.
The NYPD’s moving its federal monitor and compliance units into Sabey Corp’s “Verizon Building” at 375 Pearl St, near One Police Plaza. The 18k SF lease will take up the 22nd Floor. No word on brokers involved.
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HS Management Partners is doubling its office space with a 10,500 SF lease at 640 Fifth Ave. Savills Studley’s Paul Revson, Zev Holzman and Chase Gordon repped the tenant. Jared Solomon repped the landlord, Vornado, in-house.
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Versace signed a 10-year, 4,300 SF lease at 75 Greene St in Soho. Isaacs and Co's Marc Simon repped Versace. The Real Deal reports the asking rent was in the $300s/SF. Banker Commercial Alliance’s Catherine O’Toole and Stephen Tarter repped the landlord, Makali.
FINANCING
Aareal Capital Corp. closed on a $60M loan to Olmstead Properties and Jonathan Rose Cos. Estreich & Co brokered the debt. The partnership closed on a buy of 240 West 40th St, a 160k SF office building from a partnership between AEW Capital Management DTZ for $85M earlier this month, and the financing will cover a renovation.
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Capital One Multifamily Finance closed on a $59M loan to Cammeby’s International for its buy of 501 Lexington Ave from the Sigety Family. Meridian Capital’s Abe Hirsch and Zev Karpel handled the deal.
