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Deals & Dealmakers

LEASES: Kaufman lands “hippie” retailer, media company takes space in Long Island City’s Zipper Building

NEW YORK

The Kaufman Organization secured a 5,909 s/f three-year lease for Haute Hippie, a lifestyle fashion designer, at 15 West 27th Street (15W27). The luxury brand, found in high-end department stores including Bergdorf Goodman, Saks Fifth Avenue and Neiman Marcus, will encompass the entire sixth floor.

Michael Heaner, partner at Kaufman, along with Grant Greenspan and Elliot Warren represented the landlord, 13W27 Leasehold, LLC, in the transaction while Glenn Isaacson of CBRE represented the tenant. Asking rent was $65 psf. Haute Hippie will move into the space September 2016. Other tenants at 15W27 include Barstool Sports, a sports and men’s lifestyle blog, Fernando Romero Enterprise (FR-EE) an architecture and design firm, and Pondicheri, a modern Indian restaurant.

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Cushman & Wakefield announced that the firm, in conjunction with JRT Realty Group, arranged an 8,000 s/f short-term lease for IAC – a media and Internet company comprised of some of the world’s most recognized digital brands and products – at Vanbarton Group’s Zipper Building at Austell Place, located at 47-16 in Long Island City, Queens. IAC’s streaming video service, the Daily Burn, will have office space on the third floor.

The tenant will also build out studio space for Daily Burn’s workout sessions that are filmed and streamed through its app. A brokerage team of Ethan Silverstein and Corey Horowitz of Cushman & Wakefield along with Greg Smith, Lauren Calandriello, Kristen Morgan and Ellen Israel from JRT Realty Group, represented the landlord in the transaction. Steven Rotter and Justin Haber of JLL represented IAC. The Zipper Building at Austell Place, formerly known as the Waldes Zipper Factory, is a four-story building, totaling 58,000 square feet. The property has recently undergone a major capital improvements program which includes the redevelopment of the façade, lobby, ground retail and elevators.

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Handler Real Estate Organization arranged a long-term lease at its 561 7th Avenue property with Oasis Children’s Services taking the entire 3,944 s/f third floor. The new space will serve as the youth camp and enrichment organization’s headquarters. Relocating from Dumbo, Oasis Children’s Services is scheduled to occupy its new offices in the fourth quarter of 2016, pending build-out. Handler Principal and CEO Scott Galin, along with Richard Farley and Darell Handler, represented ownership in the transaction. Jordan Brustein and Eric Zemachson, of Newmark Grubb Knight Frank, represented the tenant.

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In a series of separate transactions, the William Kaufman Organization leased 12,000 s/f 437 Madison Avenue. Michael Lenchner, Vice President and Director of Leasing at Sage Realty Corporation, the leasing and management division of WKO, represented the building’s ownership in-house in both transactions, along with a Jones Lang LaSalle leasing team of Frank Doyle, David Kleiner, Cynthia Wasserberger, Hayley Shoener and Harlan Webster. Asking rents in the building range from $80 to $110 per square foot:

• Renewable energy company Terra-Gen LLC has signed a five-year, 6,871 s/f lease comprising a portion of the 22nd floor at the 850,000 s/f office building.The company expects to relocate from 1095 Avenue of the Americas in the fourth quarter of 2016. John Fitzsimons of Cushman & Wakefield represented Terra-Gen.

• Litigation finance company Bentham Capital LLC is leasing 5,261s/f, occupying one of WKO’s high-end, built-to-suit office spaces on a portion of the 19th floor for a 10-year term. The company is currently located at 885 Third Avenue. Lance Korman and Brian Waterman of Newmark Grubb Knight Frank represented Bentham Capital.

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Healthcare provider Northwell Health has leased 2,500 s/f at Mayfair Shopping Center in Commack, where it plans to open a GoHealth walk-in urgent care facility. Levin Management, exclusive leasing and managing agent for the 222,000 s/f property, orchestrated the long-term lease. Michael M. Stone of Cushman & Wakefield represented the tenant.

NEW JERSEY

Colliers International Group Inc. has inked two leases for solar industry tenants in New Jersey’s Middlesex County. Doug Twyman brokered the transactions for Momentum Solar and Code Green Solar as tenant representative:

• In Metuchen, Momentum Solar signed a long-term lease for 27,000 s/f at 325 High Street. The privately held firm designs systems for both residential and commercial properties. Its headquarters will relocate to 325 High Street in a significant expansion move. Colliers’ Jon Tesser and Mike Markey, also based in Princeton, served as landlord representatives.

• In Edison, Doug Twyman brokered a multi-year lease for Code Green Solar at 95 Newfield Avenue in Raritan Center. The commitment marks an expansion into northern New Jersey for the firm, which already maintains a strong presence in the state’s southern region. Code Green Solar installs turnkey renewable energy solutions in more than one dozen states. Summit Associates owns the flex building at 95 Newfield Avenue and was represented in-house by John Visceglia.

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Lumber Liquidators has renewed its lease for 11,000 s/f of industrial/warehouse space at 14 East Wesley Street in South Hackensack, N.J. The property is owned and managed by Alfred Sanzari Enterprises. The transaction was negotiated in-house by Alfred Sanzari Enterprises. Brandon Anapol of Metro Commercial represented the tenant.

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Bussel Realty Corp. (BRC) announced Metrofuser LLC has leased 25,134 s/f at 475 Division Street in Elizabeth, a 175,000 s/f industrial property. Herb Zimmerman, senior vice president, and Jeff Goldfinger, vice president, of BRC represented Metrofuser LLC in the transaction. NAI Hanson represented the landlord. 475 Division St. is a 175,000-square-foot industrial property located near Exit 13A of the New Jersey Turnpike and Routes 1 and 9. The space leased to Metrofuser LLC features 12 to 14-foot ceiling heights, four loading docks and one drive-in door, 1000 amps of electric power, and parking.

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Jaime Weiss, Managing member of Colonial Village Associates, LLC and President of Weiss Realty, the center’s leasing and managing agent, has announced that LouCas Restaurant has renewed its lease at the center, located on Route 27 and Parsonage Road in Edison.  The restaurant occupies 4,996 s/f with private dining rooms and separate banquet. With this lease the retail portion of the Shops at Colonial Village is now one hundred percent leased.  Colonial Village comprises 20,000 sf of retail services, dining and shopping and 50,000 sf of offices situated in five buildings on six landscaped acres with 400 car parking spaces.

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