Bisnow – The Deal Sheet

LEASING

Wakefern Food Corp leased 67k SF from Tucker Development Corp to anchor Newark’s Springfield Avenue Marketplace with a new ShopRite. The 11-acre site (vacant for 20 years) also will include 150 apartments, and the project will break ground this fall.

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 Bloomberg leased a 132k SF build-to-suit data center in Orangetown being developed by Russo Development and Sentinel Data Centers. The Rockland County Industrial Development Agency has approved a partial tax abatement, and the lease is conditional upon the county exec’s authorization. The property will come online in mid-2014. Russo’s Michael Pembroke repped the owners.

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Yahoo! has leased space at Blackstone Group’s 229 W 43rd St, the old New York Times Building, to consolidate all 500 NY employees. It also includes expansion room for 200 more.

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Crain Communications—repped by CBRE ‘s Mary Ann TigheDavid HollanderKen MeyersonPaul Stimpfle, and Brendan Herlihy—inked a 15-year, 59k SF lease at 685 Third Ave and will relocate at the end of 2013. CBRE’s Robert AlexanderHoward Fiddle, and Zachary Freeman repped the landlord, TIAA-CREF.

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Kalmon Dolgin Affiliates arranged in a long-term triple-net lease ofNathan and Solmi Accad’s 90k SF multi-story loft at 255 Butler Stbetween Nevins and Bond streets in Gowanus. The buyer, 255 Butler Street Associates LLC, is controlled by Sam Boymelgreen, who plans a multimillion-dollar redevelopment.

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Summit Business Media will relocate in July from 475 Park Ave S to 17k SF in 469 Seventh Ave (at 36th Street) under an eight-year lease. Colliers’ Eric Meyer and Martin Meyer repped the owners, and Cushman & Wakefield’s Alan Wildes repped the tenant.

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Rocco’s Tacos signed a 15-year lease for 15k SF at Muss Development’s 339 Adams St in Brooklyn. This is the first NY location (it has five in Florida) and will open by the end of the year. Muss’ Ross Spitalnick and RKF’s Ariel Schuster and Brian Segalrepped Muss. The Shopping Center Group repped Rocco’s.

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Aerotek leased 14k SF in RFR Realty’s 757 Third Ave, and TEKsystems took 15k, each for 10 years. Baltimore Ravens ownerSteve Bisciotti owns both tenants, which were repped by Cassidy Turley’s Jamie SmithMichael Norris, and Jonathan Schindler. RFR’s Steve Morrows and JLL’s Mitch Konsker and Alexander Chudnoff worked on the landlord side.

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The American Institute of Chemical Engineers arranged a 17k SF, long-term lease at Silverstein Properties’ 120 Wall St and will relocate from 3 Park Ave. Colliers’ Leon Manoff and Robert Kennedy repped the tenant. Roger Silverstein and Joseph Artusarepped the landlord internally. 120 Wall St is an Association Center, meaning it offers state incentives to nonprofits.

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FLSV Fund Administration Services is expanding from 3,800 SF to 14k in W&H Properties’ 1359 Broadway. Newmark Grubb Knight Frank’s Robert Silver and Anthony Sciacca repped the tenant, and their colleagues William CohenRyan KassNeil Rubin, andAndrew Weisz repped the landlord.

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HelmsleySpear’s Gregg Slotnick repped International Safety Group in a 10k SF, four-year sublease at 708 Third Ave and Paulson Investment Co in a 5,500 SF lease at 40 Wall St (co-brokered by Magee Realty Corp).

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Lingerie company Journelle, repped by Winoker Realty’s Howard Epstein, leased 7,500 SF at 159 W 25th St for 10 years and will take occupancy Aug. 1. His colleague Corey Abdo repped investment bank Rodman & Co in a 7,500 SF sublease at 570 Lex through April 2016. CBRE repped the sublandlord, Volvo.

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Law firm Edward H. Burnbaum, repped by Cushman & Wakefield’sSteven Blair Strati and David Berke, leased 7,300 SF at 675 Third Ave, at the northeast corner of 42nd Street, and will relocate from 300 E 42nd St. The Durst Org’s Brandl Frey repped the landlord internally.

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LH Financial, repped by Studley’s Lance Leighton and Evan Margolin inked a 10-year, 6,600 SF lease at Boston Properties’ 510 Madison Ave at 53rd Street and will relocate from a co-op at 150 Central Park S this summer. Boston Properties’ Adam Frazier andDaniel Birney and CBRE repped the landlord.

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Adams & Co’s David Levy arranged a seven-year, 6,000 SF renewal for Horizon Imports at 10 W 33rd St. Jeffrey Schwartz joined him to rep the landlord of 1071 Ave of the Americas in a 5,300 SF, four-year renewal to David Geller Associates. Newmark Grubb Night Frank repped the tenant. Their colleague James Busilik negotiated a 10-year, 5,200 SF renewal for Recycling and General Industrial Union Local 108 Pensions & Welfare Funds at Kofler Associates’ 121 E 24th St.

http://www.bisnow.com/commercial-real-estate/new-york/four-ideas-for-penn-station/

 

Helmsleyspear’s Gregg Slotnick Signs Three New Leases

HelmsleySpear, LLC, America’s oldest continuously operating real estate firm that was founded in 1866, is pleased to announce that Gregg Slotnick has completed three new leasing transactions in Manhattan’s FiDi (Financial District) and Midtown East submarkets, totaling nearly 18,000 square feet. These leases were announced by Kent M. Swig, President of HelmsleySpear.

“We are very pleased that HelmsleySpear is reestablishing itself as a leasing deal maker in prime New York City commercial markets. We expect to see additional leasing activity in FiDi and throughout Manhattan in the coming months,” said Kent Swig.

Gregg Slotnick represented the tenant in all three leases:

International Safety Group, an industry leader in occupational risk management, signed a four year sublease for 10,000 square feet at 708 Third Avenue, and two additional leases were completed in FiDi, which involved a 5,488 square foot lease at 40 Wall Street, signed by Paulson Investment Company, a financial services firm. The lease was co-brokered with Magee Realty Consultants at 40 Wall Street for a five year term. The third lease that was concluded by Mr. Slotnick was with New York City Osteopathy, a medical practice specializing in osteopathic medicine, who renewed their 2,000 square foot lease at 61 Broadway for a five year term.

“We are seeing interest across all industries, from financial firms to medical offices who see the value in conducting business in the FiDi as well as Midtown East office districts, both with close proximity to Manhattan’s major transportation hubs,” said Mr. Slotnick.

About HelmsleySpear
Since 1866, HelmsleySpear has been a leader in commercial real estate creating legendary deals that are the cornerstones of the real estate industry and is the oldest, continually operating real estate firm in America. Evolving from a real estate appraisal company to a full-service firm providing highly-skilled, professional performance and bottom-line profitability for its clients, HelmsleySpear provides property owners and users of real estate with a full array of services including: office and retail leasing; property and asset management; capital advisory services; investment sales and financing; project development and construction management; preventative maintenance and engineering; insurance services and appraisal. HelmsleySpear is independently owned and operated with offices in New York City.

Source: Citybizlist

http://newyork.citybizlist.com/article/helmsleyspear%E2%80%99s-gregg-slotnick-signs-three-new-leases

Have you heard…

April 17, 2013

By REW Staff

KNOWN simultaneously as the “most loathed” and “most successful” broker in New York City, marketing maverick Michael Shvo is dipping his toe back into real estate.
The poster boy for excess at the height of the housing boom, Shvo is set to speak at the upcoming Spring Conference being organized by Esther Muller’s Academy for Continuing Education.

At the pinnacle of his marketing career, Shvo was hailed as a genius for developing concepts that sold billions of dollars worth of real estate.

But he disappeared as fast as the celebrity parties he threw when the market crashed and, for the past two years, appears to have been busy building a career as an art aficionado and getting hitched to long-time girlfriend, Turkish model Seren Ceylan.

Muller told Brokers Weekly she had tracked down Shvo — who has been decidedly media-shy in recent years — as a service to her students. He’ll talk about “Lessons Learned” and give his perspective on today’s housing market.

“Michael Shvo is someone who has been in the industry at a very high level and who has faced challenges and had some interesting moments,” said Muller. “Hindsight is a great thing — if you could do it again, what would you do differently?”

“We want the agents to learn something and he travels all over the world doing work.”

Today, he has a more mature perspective of the landscape of the industry. He is very transparent and honest about how he feels.”

The Spring Conference Series takes place April 29, May 1 and 3 at the New York Athletic Club, 180 Central Park South, Presidents Room, 10th Floor. Other confirmed speakers include Frederick Peters, president of Warburg Realty, Kent Swig, co-chairman of Terra Holdings, Jackie Teplitzky, managing director at Douglas Elliman, Wendy Maitland, senior managing director of sales at Town Residential, and Jason Sheftell, from the NY Daily News.

Agents can receive 22.5 hours DOS-approved credit to renew their license, including the required three credit hours of Fair Housing and Human Rights.

To register, call Edreana at 212-262-2662, or email

Edreana@RealEstateAcademy.com.

http://www.rew-online.com/2013/04/17/have-you-heard-3/