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Deals & Dealmakers

LEASES: Trade Commission of Peru signs lease at 850 Seventh Avenue

NEW YORK

The Kaufman Organization announced that The Trade Commission of Peru has signed a 1,445 s/f lease at 850 Seventh Avenue. The Commercial Office of the Embassy of Peru in New York City will relocate its headquarters from 767 Third Avenue to the 850 Seventh Avenue, which is near the 57th Street corridor. Ivan Bushka of The Kaufman Organization represented the tenant in the transaction, while David A. Kahane of DAK Commercial Realty, LLC represented the landlord. Asking rents were in mid-$50’s per-square-foot. The Trade Commission of Peru in New York helps to facilitate introductions and initiatives between Peruvian exporters and American businesses in various industries.

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Avison Young announced that its retail team, led by Principal and Executive Managing Director Jedd Nero, has recently closed 11,480 s/f of new leases in locations throughout Manhattan and Brooklyn. The transactions include the following:

• A new 2,000 s/f ground floor lease at 41 West 46th Street for Mala Project, a Sichuan Chinese restaurant. The lease was for 10 years. Jedd Nero and Rob Nero from Avison Young represented the tenant, while the landlord represented themselves. The 41 West 46th Street property is a six-story walk-up residential building located in Midtown Manhattan.

• A new 1,060 s/f ground floor lease at 200 Water Street, also for Mala Project. The lease was for 10 years. Jedd Nero and Rob Nero represented the tenant and the landlord was represented by Winick Realty Group. The 200 Water Street property is a 32-story residential building located in Downtown Manhattan.

• A 3,596 s/f ground floor lease renewal at 211 East 43rd Street for Soba Totto, a Japanese restaurant. The lease was for 10 years. An Avison Young team of Jedd Nero, Jeremy Schwartz, Henry Fuentes, Anthony Lopresti, and John Ryan represented the landlord. The 211 East 43rd Street property is a 24-story office building located in the Midtown East neighborhood of Manhattan.

• A 600 s/f ground floor lease renewal at 93 Worth Street for Tribeca Eye and Health, an optical healthcare facility. The lease was for 10 years. Jeremy Schwartz and Jedd Nero represented the building’s landlord IGI-USA, and the tenant was represented by Corcoran. The 93 Worth Street property is a recently restored condominium building in Tribeca, offering 92 units comprising studio, one, two, three and four-bedroom residences, along with seven grand penthouses.

• An 1,874 s/f lease at 1299 Nostrand Avenue in Brooklyn for a new Walgreens Community Pharmacy. The lease was for 10 years. Jeremy Schwartz and Jedd Nero represented the tenant and the building was represented in-house by Chris Tepper with Hudson Companies. The 1299 Nostrand Avenue property is an eight-story, 120-unit rental building in Brooklyn’s Prospect Lefferts Gardens neighborhood.

• A 2,350 s/f lease at 3954 Broadway in uptown Manhattan, also for a new Walgreens Community Pharmacy. The lease was for 10 years. Jeremy Schwartz and Jedd Nero represented the tenant and the building’s landlord Columbia University was represented by Melisa Schneider and Anil Chandra. The property is officially known as the Lasker Biomedical Research Building and its main address is 3960 Broadway.

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Stellar Management, in partnership with Imperium Capital, announced that Breather – an on-demand meeting space provider – has signed a lease for 2,200 s/f at 220 Fifth Avenue. The company has signed a five-year lease to take part of the third floor and plans to officially occupy the space by the Fall of 2017. Breather was represented by Ramsey Feher of CBRE. Brian Waterman, Andrew Peretz, David Malawer and Brent Ozarowski of NGKF represented the owners. 220 Fifth Avenue is currently undergoing an extensive capital improvement program and will soon boast a fully renovated lobby as well as updated and modernized building systems.

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In a transaction arranged by Marc Schoen, Brian Neugeboren and Alicia Parente of The Schoen Group at Savitt Partners, The Genesis Prize, a global award created to celebrate Jewish Achievement and contribution to humanity, has inked a 3,000 S/F office lease at 1540 Broadway, The Bertelsmann Building. The organization will house its headquarters at the 44-story, Class-A office Property owned by Vornado Realty Trust. The asking rent at 1540 Broadway was $90 per square-foot. The Genesis Prize was previously sharing office space at the property with affiliated entities. The Schoen Group at Savitt Partners team represented The Genesis Prize in the seven-year lease. Eric Deutsch and Jason Pollen of CBRE Group acted on behalf of the building ownership.

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Ripco Real Estate announced that Club Pilates opened three new locations throughout Westchester County, New York. Club Pilates is now open in Scarsdale, Mount Kisco and Ardsley with more new locations coming soon. Club Pilates, a franchised fitness concept with over 240 studios nationally, offers members a highly specialized Pilates workout based on Joseph Pilates original Reformer-based methodology. Club Pilates studios are now open at 365 Central Avenue in Scarsdale, 30 E Main Street in Mount Kisco, and 875 Saw Mill River Road in Ardsley. Ripco, which represents Club Pilates in the greater New York/New Jersey metropolitan market, was responsible for identifying the locations for the three new Westchester sites.

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RHYS Commercial announced the following lease deal:

• A 10-year lease signed at 1019 Central Park Avenue in Scarsdale in Westchester County with Orange Theory Fitness, one of the world’s top fitness studio franchises with more than 450 locations throughout the US and Canada, UK, Mexico, Columbia, Australia and the Dominican Republic. Orange Theory will occupy 3,040 s/f of the former Golfsmith retail space on Central Park Ave. The 40,000 s/fretail center is anchored by Buy Buy Baby and Best Plumbing Tile & Stone. RHYS Commercial’s Tyler Lyman and Ryan Stranko represented the landlord, Ginsburg Development and David Townes of Ripco represented Orange Theory Fitness.

NEW JERSEY

Colliers International NJ announed five long-term lease transactions have been signed in as many months at 1&2 Crossroads Bedminster corporate campus. Property owner Eden Wood Realty Corp. – which is completing an amenity-focused capital improvement program at the 150,000 s/f Class A asset – named Colliers exclusive agent in MArch 2017. The recent activity, totaling approximately 90,000 s/f includes a new lease, two expansions and two renewals, according to Colliers’ Richard Mirliss, who is heading the assignment with Alex Vitro, Jack Callahan and Richard J. Madison, who are based in Parsippany, N.J.

• Zelis Healthcare renewed and expanded its full-building headquarters lease at 2 Crossroads Drive. Larry Martin, of Newmark Knight Frank served as tenant broker.

• Hartford Steam Boiler Inspection and Insurance Company (HSB) relocated and expanded within 1 Crossroads Drive. The equipment breakdown insurance and specialty coverages firm maintains a regional sales office at the property. Chris Ostop of JLL represented the tenant.

• Law practice Weber Gallagher Simpson Stapleton Fires & Newby, LLP leased space at 1 Crossroads Drive in a flight-to-quality headquarters relocation play. Ann Klein and Jeff Kolodkin of Newmark Knight Frank served as tenant broker in the transaction.

• Long-time tenant Merrill Lynch Wealth Management extended and expanded its commitment at 1 Crossroads Drive. The company maintains a regional sales office there. Jeff Babikian of CBRE represented the Bank of America division during negotiations.

•Pharmaceutical giant Merck renewed its lease at 1 Crossroads Drive. JLL’s Jodie Matthews served as tenant representative.

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Key Properties announced that third-generation flooring specialties distributor Michael Halebian & Co. has renewed its 34,000 s/f warehouse lease at 700 Gotham Parkway in Carlstadt. Key Properties LLC owns the 80,000 S/F Bergen County industrial building. Headquartered nearby on Washington Avenue in Carlstadt, Michael Halebian & Co. has been a tenant at 700 Gotham Parkway for 20 years

CONNECTICUT

RHYS Commercial announced the following lease deals:

• A new lease with Tempur-Pedic, the specialty mattress chain signed at 188 Post Road West in Westport, Connecticut in Fairfield County.The 2,689 s/f ground floor space also features 339 square feet of mezzanine space. The free standing building also offers 18 parking spaces on the corner of Post Road West and Kings Highway. RHYS Commercial’s Tyler Lyman and Cory Gubner, represented the landlord, 188 Post Road West LLC and JLL’s Brian Hirschfeld and Michael Hirschfeld represented Tempur-Pedic.

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