Real Estate Weekly
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Deals & Dealmakers

LEASES

New York

Cushman & Wakefield represented the landlord, Edison Properties, in a lease with Daruma Capital Management, LLC for its New York headquarters location at The Hippodrome building at 1120 Avenue of the Americas. Daruma, will occupy 9,562 s/f on the entire 21st floor in the Midtown Manhattan office building. A Cushman & Wakefield team of Gus Field, Michael Burgio and David Berke, represented Edison Properties as exclusive leasing agent. Lynn San Andres of Mason Alexander Group represented Daruma Capital Management in the transaction.

Gus Field
Gus Field

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CBRE Group, Inc. announced the firm’s recent under-20,000-square-foot office leasing transactions in New York City:
• CBRE’s Paul Amrich, Neil King, Conor Denihan and Brian Carcaterra represented Folger Hill Asset Management at 900 Third Avenue in an 18,355 s/f sublease on the entire 23rd floor. The term was 8 years and 6 months. Newmark Grubb Knight Frank’s Chris Mongeluzo and Eric Zemachson represented the sublandlord, CORE Media Group.
• CBRE’s Paul Amrich, James Ackerson, Neil King and Jackie Marshall represented Rockwood Capital at 140 East 45th Street in a 9,422 s/f direct expansion on the partial 16th floor for Cedar Hill Capital Partners, LLC. The term was 7 years and 1 month. No outside broker represented the tenant.
• CBRE’s Jared Freede and Ken Meyerson represented Mission Athletecare at 60 East 42nd Street in an 8,137 s/f relocation from 390 Fifth Avenue on the partial 8th floor. The term was 5 years. Newmark Grubb Knight Frank’s Julie Christiano, William Cohen and Jonathan Tootell represented the landlord, Empire State Realty Trust.
• CBRE’s Adam Foster and Jackie Marshall represented DSCI LLC at 130 West 42nd Street in a 3,600-sq.-ft. direct lease on the partial 9th floor. The term was 7 years and 4 months. CBRE’s Sam Seiler, Christie Harle and David Hollander represented the landlord, Tribeca Associates.
• CBRE’s Paul Walker represented Spring11, LLC at 780 Third Avenue in a 3,395 s/f sublease on the partial 20th floor. The term was 2 years and 9 months. CBRE’s Snezana Anderson and Bernhard Weinstabel represented the sublandlord, Renaissance Capital.

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EVO Real Estate Group arranged 12 Manhattan office and showroom leases. The deals include:
• Elliott Klein and Jared Anderson represented the landlord in law firm Mauriel Kapouytian Woods LLP’s lease of the entire seventh floor, containing 4,500 square feet, at 15 West 26th Street. The tenant broker was Bert Rosenblatt of Vicus Partners.
• Howard Epstein and Barry Bernstein represented 152 Madison Avenue in its lease to Liquid Agency, Inc., a branding firm, which took 3,340 square feet. Doug Dolcoff of Cushman & Wakefield served as the tenant’s representative.
• EVO executives represented the landlord and tenant in a 2,500-square-foot lease to fashion firm Robin Ruth’s Inc. at 383 Fifth Avenue. Elliot Klein represented the landlord, and Evan Lieberman represented Robin Ruth, along with Mr. Dylan.
• Elliot Klein represented rehabilitation provider Ther-Ex Unlimited, Inc., in its renewal of 2,002 square feet at 276 Fifth Avenue.
• Howard Epstein represented the landlord in the lease of 1,857 square feet at 16 West 36th Street to the National Ethnic Coalition of Organizations Foundation, Inc. Jared Winter of Capston Realty Advisors, Inc. represented the tenant.
• Evan Lieberman, together with Michael Dylan of Inceptum, represented Fashion Flair Inc. in its lease of 1,650 square feet at 1410 Broadway. Richard Doolittle and John P. Howard of MHP Real Estate Services represented the landlord.
• Howard Epstein and Barry Bernstein represented the landlord and tenant in Lowell & Meader, LLC’s lease of 1,264 square feet at 152 Madison Avenue. The tenant provides psychotherapy and consulting.
• Evan Lieberman and Michael Dylan of Inceptum Inc. represented Santori, a sales agent for men’s suits and accessories, in its lease of 1,200 square feet at 152 West 36th Street. Carlos Silberman represented the landlord, Falcon Properties, in house.
• Evan Lieberman and Inceptum’s Michael Dylan also teamed up to represent sportswear firm Shah Safari Inc. in its renewal of 1,150 square feet at 209 West 38th Street. Matthew Mandell of Newmark Grubb Knight Frank represented the landlord.
• Evan Lieberman represented both the landlord and tenant in fashion firm Sucomex International’s lease of 1,000 square feet at 246 West 38th Street. Michael Dylan of Inceptum joined him in the tenant representation.
• Carlo Catuogno represented Dag Tech LLC, an IT services provider, in its lease of 850 square feet at 185 Madison Avenue. The landlord’s representative was Jeff Buslik of Adams & Co.
• Howard Epstein represented World Trade Travel Agency, Inc., in its lease of 782 square feet at 40 West 37th Street. Roy Kim represented landlord Park Ridge International in-house.

Howard Epstein
Howard Epstein

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KZA Realty Group, Inc. (KZA) in Bronx announced the following leases:
• At Hutch Metro Center Atrium’s 1776 Water Place in the Bronx, KZA Associate Broker Sherry M. Scanlon represented landlord, Simone Development, as well as new tenant, Tatiana’s Day Spa & Hair Salon, to secure a 10-year lease of 1,250 square feet for an estimated total of $402,000.00. With this deal, Tatiana’s Day Spa & Hair Salon will become the only spa located in the vicinity of the new Marriott Hotel.
• Sherry Scanlon also recently represented owners Anthony Martello and Rino Monteforte along with tenant, Mo’s Electrical and General Construction, in the 5-year lease for a 1,800 s/f office space at 1401 Blondell Avenue in the Bronx for $135,000.00.

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Pliskin Realty & Development announced that Christopher M. Wierzbicki has brokered a 10-year lease for a 1,000 square foot retail space located at 325 Sunrise Highway, Lynbrook, NY. Wierzbicki represented the property owner, Pliskin Realty & Development, and the new tenant, Locksmith Services, Inc.

 

New Jersey

M. Gale Insurance Agency, LLC, a branch of Farmers Insurance, signed a lease for a new location in the Copper Tree Mall, located at 350 Ramapo Valley Rd. in Oakland, NJ. The 1,050-square-foot space replaces the company’s previous location at 266 Harristown Road in Glen Rock, NJ. Winick Realty Group NJ’s Susan Preisler represented both M. Gale Insurance Agency and landlord Washington Square Owner, LLC in the lease transaction.

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NJTV, New Jersey’s public television network, and C&K Properties announced that NJTV has signed a lease at 2 Gateway Center, C & K’s Class A office building in the heart of downtown Newark. The 10,645 square-foot second floor concourse space will serve as the new location of the network’s television anchor studio

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Three new leases totaling nearly 57,000 square feet at Princeton Pike Corporate Center in Lawrenceville were announced by Prism Capital Partners, LLC with Angelo, Gordon & Co., who acquired Princeton Pike Corporate Center in 2013:
• J. Knipper and Company, Inc., which provides end-to-end samples management services to the U.S. pharmaceutical industry, leased 23,000 square feet of garden-level space at 1009 Lenox Drive. Sab Russo from Mercer Oak Realty served as tenant broker in the long-term transaction.
• National law firm Eckert Seamans Cherin and Mellott, LLC committed to 22,550 square feet on second floor of Princeton Pike Corporate Center’s 2000 Lenox Drive. The Pittsburgh-based practice, which will relocate its regional office to the property from Trenton, was represented by Ed DaCosta from CBRE in the long-term lease.
• At 1000 Lenox Drive, financial services firm Management Planning, Inc. leased 11,370 square feet. The company – which provides tax-based valuations, valuations for financial reporting purposes, and transaction and advisory services – will take occupancy of its third-floor space in a relocation move from another Princeton-area address. Roby Bull from Jones Lang LaSalle served as tenant broker in that long-term deal.

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C&K Properties announced today that Prudential Financial has extended their lease at 2 Gateway Center, a Class A office building in the heart of downtown Newark. The building will continue to house the global insurance and asset management firm on multiple floors under the terms of the ten-year lease.

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