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Deals & Dealmakers

LEASES: The week in under 10,000 s/f office deals


Adams & Co. Real Estate completed a 6,142 s/f lease at 44 West 18th Street for the virtual reality innovator, IrisVR, Inc. The company is subleasing the seventh-floor office space from Verve Wireless, which is subleasing the space from Taboola Inc. James Buslik and Alan Bonett of Adams & Co. represented the landlord, Forty Four Eighteen Associates, and the sublandlords Taboola Inc. and Verve Wireless. Thomas Murtha of Capstone Realty Advisors represented the tenant. While the full details of the one-year transaction were not disclosed, asking rent was $60 psf. IrisVR, Inc. creates virtual reality experiences for over 15,000 clients, which are mainly focused in the architecture, engineering and construction fields. The virtual worlds that IrisVR develops allow users to walk around, climb stairs, sketch three dimensional notes and even change the sun’s position.
Lee & Associates NYC announced that Dennis Someck, Principal and Executive Managing Director, and Justin Myers, Managing Director


and Principal, arranged a five-year lease for Knotch at 52 Walker Street, on the Soho/Tribeca border. The marketing technology firm will relocate to a 5,000 s/f space in a move that will more than double its current, 2,000 s/f of shared office space at 45 West 21st Street. Knotch’s new fifth-floor office features high ceilings and exposed brick. Someck and Myers represented the tenant. Jack Chiu of Douglas Elliman represented the landlord. Asking rent was $60 per square foot.
Norman Bobrow & Company arranged a 9,276 s/f lease for NADAP Inc., a private non-profit corporation that serves New Yorkers with jobs, community support, health care and other resources. NADAP moved its new Career Compass Program office into the Lee Building, ocated at 1825 Park Avenue in Harlem (pictured top). They will occupy a portion of the building’s fifth floor. The six year lease had an asking price of $45 psf. Joshua R. Berger, managing director at Norman Bobrow & Company, represented the tenant, along with Alex Lubin. Savanna was represented by JRT Realty’s Ellen Israel, Lauren Calandriello and Greg Smith and Cushman & Wakefield’s Mitchell Arkin and Omar Sozkesen.
CBRE represented a privately owned educational group in a 2,300 s/f office lease at 185 Montague Street in Brooklyn Heights. The CBRE team of William Domsky and Mark Zussman represented the tenant. The asking rent was $52 psf.
Admiral Real Estate Services Corp. announced the following leases:
Joan Simon leased 257 Mamaroneck Avenue in White Plains to Bushido Karate, which is relocating from Tarrytown Road. Bushido Karate will be replacing the prior tenant, CycleWorks, and expects to open this spring. The property, also occupied by Century 21 Real Estate, is owned by The Kempner Corporation. Simon represented both the landlord and the tenant.


• Burnagenics Fitness & Wellness leased 9,000 s/f on the ground floor of the residential building at 33 South Broadway. Co-tenants include Salon 33 South and Synergy Beauty Bar. 33 South Broadway is also one block from The District, a proposed 700-unit luxury high-rise residential and retail development expected to be completed in 2019. Jerry Villani of Coldwell Banker represented the tenant in this transaction. Joan Simon represented the landlord.
Littlefield, a popular Gowanus event space, is relocating to a bigger location at 635 Sackett Street around the block from its current site. The new venue has 5,000 s/f of interior space with an additional 4,000 s/fof outdoor space to host events. CPEX’s Brooklyn Retail Leasing Team, consisting of Managing Director Ryan Condren, Associate Director George Danut and Associate Keat Chew, represented the landlord in negotiating the lease transaction with the incoming tenant.


Bussel Realty Corp. (BRC) announced Keymar Warehouse Inc. has leased 92,000 S/F at 301 West Washington Street, in Riverside, a 250,000 s/f industrial property. Leo Esses, senior vice president, and David Posner, senior vice president, of BRC, represented the landlord, Remy Investments LLC, in the transaction. Colliers International represented Keymar Warehouse. 301 West Washington Street is located near Exit 5 of the New Jersey Turnpike and I-295. Currently, the property has 100,000 s/f of space available in the remainder of the building, and an additional 100,000 s/f of new space can be constructed on the site.
Lee & Associates New Jersey announced the following leases:
Doug Gaffney and Jason Lynch represented California Closets in their lease renewal for office and showroom headquarters located at 4 Gardner Rd., parallel to Route 46. The landlord is Prologis U.S. Logistics Fund
Doug Gaffney and Jason Lynch represented the law firm of Blume Forte et al in Chatham in the long-term lease renewal of 19,500 s/f at One Main Street. Justin Gingeleskie, of the KRE Group, represented the landlord in-house.
NAI James E. Hanson announced the following leases:
• 9,318 s/f with Vision Creative Group at 2740 Route 10 West in Morris Plains, N.J. NAI Hanson’s Josh Levering, SIOR, and Nicholas DePaolera represented the landlord, First Indemnity of America Insurance, Co. and Vision Creative Group was represented by Barry Mayer, Arthur Hixson and Andrew Kirshenbaum in the transaction.
• A 1,397 s/f medical office lease at 23-00 Route 208 in Fair Lawn, N.J. Darren Lizzack, MSRE, and Randy Horning, MSRE, represented the landlord, 2300 RT 208, LLC in the lease to Dr. John Pantazopoulos. 23-00 Route 208 is a three-story, 28,000 s/f medical office building located centrally between Hackensack University Medical Center and Valley Hospital.
Sitar Realty Company announced the following real estate lease transactions:
• The lease of 99,636 s/f of industrial space at 245 Belmont Drive, Franklin Township from Heller Industrial Park Inc. to Mack Boring and Parts Co. Bill Sitar Jr. and John Cranley handled the transaction.
• 26,000 s/fof retail space at 136 Monmouth Road, West Long Branch from 136 Monmouth Road Holdings, LLC to SJM Motorcycles, LLC. Gregg Nowell and Brian Murphy brokered the lease.
• 19,809 s/f of office space at 1433 Route 34, Farmingdale from Mack-Cali Realty to Northeast Remsco. Gregg Nowell was the broker.
• The lease of 16,500 s/f of office space at 2121 Route 22, Bridgewater from Bridgewater East Associates to Capitol Care BR, LLC. Gregg Nowell and Doug Sitar handled the transaction.


• 14,160 sq. ft. of retail space at 801 Roosevelt Avenue, Carteret from LJL Associates LLC to Dollar Tree Stores, Inc. Bill Sitar Jr. and Brian Murphy were the brokers.
• The lease of 12,739 s/f of industrial space at 2350 Route 34, Wall from Sudler Iorio LLC to NRG Home Solar. Ronald Schrader Jr. was the broker.
• 11,850 s/f of office space at 1300 Allaire Road, Ocean Township from DanaBry, LLC to Ron Shamash. Giorgio Vasilis and Brian Schrader brokered the lease.
• 10,228 s/f of office space at 43 Newburgh Road, Hackettstown from Avmar LLC to REM New Jersey, Inc. Robert Giordano was the broker.
• The lease of 9,000s/fof industrial space at 55 Liberty Street, Metuchen from 55-65 Liberty, LLC to Wireless Communications and Electric, Inc. Joseph Allegro was the salesperson in this transaction.
• The lease of 8,450 s/f of industrial space at 1715 Route 34, Wall from Third Avenue Realty LLC to Kool Vent Mechanical LLC. Robert JanTausch was the salesperson in this transaction.
• 8,000 s/f of retail space at 715 Bennett Mills Road, Jackson from Manhattan Plaza 715, LLC to Dollar General. Giorgio Vasilis was the broker.
• 5,514 s/f of retail space at 390-345 Route 46, Parsippany, from Jolly 46, LLC to Marakesh Restaurant and XI Chinese Market. Helena Loelius was broker.
• 5,229 s/fof retail space at 101 Prosper Way, Brick from Nobility Crest at Brick III, LLC to The Freakin’ Puerto Rican, LLC and Dance Concepts, Inc. Helena Loelius and Trista Ricciardelli were the brokers.


• 4,632 s/f of office space at 242 Old New Brunswick Road, Piscataway from 242 Walton Partners, LLC to Hitachi Data Systems. Robert Bogash and Doug Sitar were the salespeople in this transaction.
• 4,405 s/f of office space at 24 Commerce Street, Newark from brokered the lease.
• The lease of 3,082 sq. ft. of office space at 106 Apple Street, Tinton Falls from Reid Hass Limited Partnership to Thompson Healthcare & Sports Medicine. Gregg Nowell and Joseph Allegro were the brokers.
• The lease of 3,000 s/f of office space at 317 Route 34, Colts Neck from Colts Towne Group to ruze Construction. Joseph Allegro was the broker.
• The lease of 2,966 s/f of office space at 55-77 Schanck Road, Suite A-14, Freehold from Public Equipment Rental Co. to Golden Year Design Benefits, Inc. Gregg Nowell and Joseph Allegro were the salespeople in this transaction.
• 2,964 s/f of industrial space at 1717 Route 34, Wall from Wall Herald Cor. To Shore HL Inc. Robert JanTausch and Doug Sitar were the brokers.
• The lease of 2,825 sq. ft. of office space at 12 Parrot Mill Road, Chatham from Dr. Robert Rosen to Center for Women’s Care. John Cranley was the salesperson in this transaction.
• The lease of 2,600 s/f of industrial space at 10 Phyllis Street, Hazlet from Fischel Foundation to Vitas Manufacturing Inc. Allacen Jennings was the salesperson in this transaction.
• The lease of 2,500 s/f of office space at 1460 Route 9 North, Woodbridge from Bergman Real Estate Group to ASCO Power. Gregg Nowell was the salesperson in this transaction.

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