Real Estate Weekly
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Deals & Dealmakers

LEASES

NEW YORK 

MHP Real Estate announced that the Children’s Aid Society has leased 25,965 s/f at 4-14 West 125th Street, Harlem, NY, for a term of five years. years, Andrew Silvester and Randy Sherman of MHP Real Estate Services represented the tenant. Landlord Olam Trading Corp was represented by Paul Walker, CB Richard Ellis.

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Adams & Co. Real Estate brokered 4,811 s/f throughout Midtown in the last few months.
• Poppin, Inc. renewed its 1,927 s/f lease on the third floor of 1115 Broadway for another five year term. James Buslik and Jeff Buslik represented the tenant and landlord. Asking price for the space was $55 psf.
• Chou Chou Baby Products signed a new lease for 1,400 s/f on the fourth floor of 552 Seventh Ave. for a three year term. Jeff Buslik and Seth Godnick represented the tenant, while CBC Alliance represented the landlord, Dayan 26-552, LLC, in the transaction. Asking price for the space was $44 psf.
• Yellowstone Imports Inc. signed a new lease for 996 s/f on the ninth floor of 320 Fifth Ave. for a seven year term. Jeff Buslik and Seth Godnick represented the tenant, while EVO Real Estate Group represented the landlord, Brause Realty, in the transaction. Asking price for the space was $59 psf.
• Media Shakers signed a new lease for 488 s/f on the third floor of 1 West 34th Street for a five year term. Jeff Buslik and Seth Godnick represented the tenant, while CBRE represented the landlord, BLDG Management Co., in the transaction. Asking price for the space was $49 psf.

Paul Amrich
Paul Amrich

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DTZ reported that JAE Credit Management, a London-based hedge fund, has disposed of 7,175 s/f of Class A office space at 545 Madison Avenue to asset management firm Permanens Capital Advisors. DTZ Senior Vice President Fernando Murillo, Vice President Giorgio Versea and Associate Vice President Gary Ceder represented JAE Capital Management. Sublease negotiations were nearly completed when JAE announced it was closing its fund, prompting the subtenant to request an assignment of the lease. As assignee, Permanens Capital was required to remit payment directly to the landlord, Thor Equities, as set forth in JAE’s lease. Derrick Ades and Catherine Kuo of CBRE represented Permanens Capital.

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Online advertising technology company Flashtalking, Inc. has taken the entire 10th floor at 142 West 36th Street, featuring 7,910 s/f of pre-built space, designed by the Mufson Partnership. Exclusively representing the landlords were CBRE’s Paul Amrich, Neil King and Lindsay Godard. Representing the tenant was Bernie Weitzman of Newmark Grubb Knight & Frank. Flashtalking will be relocating from 250 West 36th Street in the spring.

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Friedland Realty Advisors announced that Industrial Specialist Atanu Bhattacharjee, alongside broker Mia Abdou, closed on the following lease:
• A four year lease for 2325 Boston Road in Larchmont, NY. Friedland represented the landlord and the tenant in the deal. The incoming tenant has plans to offer customers a “one-stop shop” for domestic and foreign car repairs and servicing.

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Premier Commercial Real Estate announced the following leases:
• Jeff Jurick represented Leon Chiropractic Method and Health Solutions on a long-term lease for 1,564 s/f at 195 Froehlich Farm Boulevard, Woodbury, New York. The owner, RXR, was represented by Carlton Wenz of RXR.
• At 165 Froehlich Farm Boulevard, Woodbury, Jeff Jurick arranged a 1,937 s/f lease for Dr. Karen F. Schwartz, an endocrinologist. The owner, RXR, was represented by Carlton Wenz.

Jeff Jurick brokered a new lease for 2,154 s/f on behalf of GYMGUYZ of Plainview, New York. The office space is located at One DuPont Road in Plainview and will help the in-home personal training company better manage its growing business. Jurick represented the tenant. The property owner, Brooke Realty Fairchild LLC, represented itself in the transaction.

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Rechler Equity Partners signed two long-term lease relocations and expansions totaling 16,000 s/f for existing tenants at its properties in Bohemia, NY:
• Projector Lamp Services has relocated and expanded to 8,500 s/f at 120 Wilbur Place. Harry Stavro, Rechler Equity Partners’ Director of Leasing, negotiated the lease on behalf of the owner, while Joseph Kondracke of the Rochlin Organization represented the tenant.
• Bay Crest Associates required space for expansion of their current 14,000 s/f operations at 50 Orville Drive and leased the additional 7,500 s/f vacated by Projector Lamp Services for a new long-term lease totaling 21,500 s/f. Harry Stavro represented both the owner and the tenant, Bay Crest Associates, in the deal.

Jeff Jurick
Jeff Jurick

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RFR Realty LLC announced over 15,000 s/f of new leases at 275 Madison Avenue. Oliver Katcher, Executive Vice President, and Pierce Hance, Leasing Associate, of RFR represented the building ownership in all of the transactions.:
• 7 Park Data, represented by Marc Miller and Jared London of MHP Real Estate Services, leased 4,652 s/f on the 15th floor;
• DRG Executive Search, represented by Andrew Lazarus of Tudor Realty, leased 2,813 s/f on the 12th floor;
• Largavista Companies, represented by Rob Hill, Daniel Wilpon, and Thomas Duke of CBRE, leased 3,565 s/f on the 37th floor;
• R&S Associates, LLC, represented by Omar Sozkesen of Cushman & Wakefield, leased 1,020 s/f on the 21st floor;
• Manberg, LLC, represented by Joseph Harkins of Cushman & Wakefield, leased 2,922 s/d on the 7th floor;
• Ramsfield Hospitality Finance leased 1,335 s/f on the 11th floor.

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InterExchange will occupy approximately 14,513 s/f on a portion of the 3rd Floor of 100 Wall Street for a 15-year term. InterExchange, a 501 (c) (3) Not-for-profit, provides programs that connect young people from around the world with life-changing cultural exchange opportunities. Mitchell Konsker, Scott Cahaly and Kyle Young of Jones Lang LaSalle represented the landlord, Savanna, while Robert Sattler and Eric Thomas of Cresa New York, LLC represented the tenant in this transaction.

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Hafetz & Necheles LLP law firmhas signed a 10-year lease at 10 East 40th Street. The firm will occupy the entire 48th floor within the property owned by Ronbet 40th Street LLC. The asking rent in the building was $65 psf. Elliot Zelinger of Savitt Partners represented Hafetz & Necheles in the transaction while Richard Brickell and Richard Teichman of Joseph P. Day Realty Corp represented the owner.

Michael Waldaman
Michael Waldman

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Antiquorum, an auctioneer of vintage and modern timepieces, has relocated to 805 Third Avenue. Previously at 595 Madison Avenue, Antiquorum leased a 5,000 s/f office that will function as its world headquarters and US exhibition space. The office was delivered in a nearly turn-key condition and included furniture. The asking rent at the building is $60 psf. Mitchell Waldman, the President of the Tenant Representation firm of Cogent Realty Advisors, negotiated the lease on behalf of Antiquorum. The Landlord, Cohen Brothers Realty, represented itself in the transaction.

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