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Deals & Dealmakers

ON THE SCENE:CBRE announced the sale-leaseback of a 100,000 s/f industrial facility

AGENTS

MITCHELL LEVINE

The Tri-State Investment Sales Group for Avison Young is marketing a four-story, 7,867 s/f mixed-use multi-family property at 304 Eighth Avenue in Chelsea for sale at $9 million. Mitchell LevineDavid Shalom, Toku Saito and Carter Lovejoy are representing the seller. The property has over 24 feet of frontage on the eastern side of Eighth Avenue and the sole remaining retail tenant is in-place on a month-to-month basis paying below-market rent. The property falls into the protected tax class 2A, which caps the Property’s tax increases at eight percent annually, or thirty percent over a five-year period.

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NLC Realty announced that Nicole Carra has been retained to sell the retail condominium at 211 East 46th Street, between 2nd & 3rd avenues in Turtle Bay. Located on the ground floor of the luxuary condominium L’Ecole and directly across the street from the legendary Sparks steakhouse, the 2,200 s/f retail condo is currently occupied by a single tenant, Barnea Bistro, kosher restaurant. Annual income is $309,000.00 with 3% annual increases. Lease expires 2032.

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BRIAN CARCATERRA

CBRE has been named by Bunge Limited as exclusive leasing agent for 66,303 s/f of sublease space on three floors at City Square, 50 Main Street in White Plains. The team of Brian Carcaterra, Michael McCall and Ryan Christie of CBRE’s Westchester/Fairfield office will head up the assignment. The 15-story, 309,000 s/f Class A office property offers access to Metro North, County Bee-line bus service, the Westchester County Airport, the Bronx River Parkway, I-87 and I-287. The recently renovated headquarters sublease space, available through June of 2025, offers opportunities for a full-floor presence on the sixth through eighth floors. City Square offers a brand new and expanded lobby and a mezzanine amenity level featuring a fitness center, lounge and game room, corporate meeting and training rooms and a cafeteria with indoor and outdoor dining.

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Cushman & Wakefield announced the firm has been retained for the following exclusive assignments:

MICHAEL FIORAVANTI

• 773 Grote Street, a 23,021 s/f residential development site in the Bronx. Jonathan Squires, Michael Fioravanti, Josh Neustadter, Addison Berniker and Shayne Soltan will be leading the marketing efforts on behalf of the seller. The property is located on the north side of Grote Street in the Belmont neighborhood. It falls within an Opportunity Zone near major institutions such as Fordham University, St. Barnabas Hospital and The Bronx Zoo.

• The lease of 200,000 s/f of industrial warehouse space at 100 Jefferson Road in Parsippany, NJ. The 550,000 s/f property, under new ownership/, recently underwent a $4 million capital improvement program that includes new warehouse space, upgraded offices, restrooms and building entrances, resurfaced parking areas and new mechanical systems and lighting. It sits on nearly 36 acres minutes from Routes 10, 46 and 202, and the Morristown CBD. The property provides access to New York City, Newark Liberty International Airport and the Port of NY/NJ, all within 30 minutes. The space is available for immediate occupancy and may be divided. It has nine loading docks and 200 on-site parking spaces. Andrew Siemsen, Jason Goldman and Michael Kimmel are leasing the assignment.

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JLL Capital Markets annnounced the following exclusive sales assignments:

PAUL SMADBECK

• 799 Washington Street, a 26,343 s/f mixed-use building in the Meatpacking District. The six-story building features five floors of office space and production studios, and a top floor loft apartment with outdoor space. Ownership is requesting proposals. Paul Smadbeck, Brock Emmetsberger, Conrad Martin, Ryan Kossoy and Braedon Gait are handling the assignment. The corner property has versatile zoning. originally constructed as a commercial warehouse in 1910, it has a curb cut leading to its own below-grade garage with room for up to eight cars. It is within a few minutes’ walk of the Whitney Museum of Art, the Jane Hotel, Allouche Gallery, the Highline and the Gansevoort retail corridor.

• 67 Kent Avenue in the North Williamsburg neighborhood of Brooklyn, comprises six separate lots, totaling 72,535 s/f, that take up nearly a full city block and includes 1,125 s/f of wraparound frontage. Brendan Maddigan, Stephen Palmese, Ethan Stanton, Winfield Clifford and Michael Mazzara are handling the assignment. Ownership will consider offers on the entire assemblage as well as on individual lots. The assemblage comprises approximately 184,281 s/f of interconnected factory buildings. It also contains a freestanding apartment building and a vacant lot. The property is situated in an IBZ where there is precedent for obtaining a ULURP for greater commercial density.

SALES

Richard Cohen, President of Ashlind Properties, announced the following sales:

RICHARD COHEN

• Home Tile Center purchased 84 Modular Avenue, Commack, NY a 33,380 s/f facility for their new showroom and architectural office as well as warehouse. The purchase price was $4,720,000. Ashlind Properties represented both the seller and purchaser.

• Richard J. Cohen represented both the seller DEA Land LLC and Hi-Lo Equipment & Service, LLC in the purchase of 845 South First Street, Ronkonkoma, NY a 64,224 s/f s-of-the-art facility with 28 ft. clear ceilings with 12 loading docks. The purchase price was $5,950,000. Robert Gladitsch of M. Robert Goldman & Company, Inc. was the mortgage obtaining the financing.

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NLC Realty LLC announced the sale of 60 Greenwich Avenue, a West Village townhouse located between Perry and 11th Streets. The property contains three residnetial units and gound floor commercial space currenlty occupied by a restaurant. Nicole Carra of NLC Realty represented the seller. Mie Iwatsuki and Kiwamu Oishi of Sumitomo-NY represented the purchaser. The sale price was $8,950,000.

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Unicorr Packaging Group – Putnam division purchased 720 Thompson Avenue, Thompson, CT. The 123,000 s/f manufacturing building is situated on a 71-acre parcel. The aspace allows Unicorr – Putnam to grow its wood division and provide 20 new job opportunities by the end of the year. Peter Lange and Stephanie Pious of Colliers International represented the seller and Stephanie Pious represented the buyer.

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WILLIAM WAXMAN

CBRE announced the sale-leaseback of a 100,000 s/f industrial facility located at 12 Daniel Road in Fairfield, New Jersey. EverWest Real Estate Investors, acquired the property from Unifoil Corporation, a laminating, coating and metallizing technology company. The manufacturer will continue to occupy the industrial property through a long-term lease. The CBRE team of William Waxman, Kevin Dudley, David Gheriani and Gil Medina engineered the sale/leaseback on behalf of EverWest Real Estate Investors. Built in 1988, 12 Daniel Road offers 27,000 s/f of office space, high ceilings and parking for 188 cars. Situated on 4.99 acres, the facility is near Routes 80 and 46.

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GHP Office Realty, LLC, has acquired 28 Kaysal Court in Armonk, New York in an off-market trade The property is comprised of a 56,000 s/f flex building, on-site back-up generator, two loading docks, and close to 200 parking spaces. It is currently 81 percent leased to six tenants. Located on a landscaped site with outside benches and tables as well as a stream, the building is steps from Old Route 22, which is home to many Armonk restaurants such as Zero Otto Nove, Gavi, and the Beehive. GHP has plans to renovate the loading dock area to create a more modern façade as well as upgrade some mechanicals within the building for more efficiency. Nicholas J. Pepe of Bianco Pepe, the seller of 28 Kaysal Court, was represented by Domenick D’Apice of Standard Realty Corp. Attorney Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP represented GHP in the transaction. First American Title arranged the title for the deal.

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ELLIOT HOROWITZ

Sutton Equity, led by Steve and Jesse Sutton, LT Capital Partners, led by Morris A. Sutton, and H Equities LLC, led by Elliot Horowitz, announced the purchase of Rose Gardens, a 32-unit garden-style apartment complex located at 336 3rd Avenue in Long Branch N.J. The partnership will engage in a light value add program.This is the partnership’s third multi-family acquisition together, the first two last year in the Little Havana neighborhood in Miami.

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