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Deals & Dealmakers

LEASES: Zeno Group expands at 140 B’way; South African wine distributor takes space on 36th Street

NEW YORK

CBRE announced the firm’s latest under-30,000 s/f office leasing transactions in Manhattan.
Tenant Representation

• CBRE’s Ken Rapp and Jared Freede represented Mitchell Silberberg & Knupp in a 18,650 s/f lease at 437 Madison Avenue for the entire 25th floor. The term is 15 years and the tenant is moving from 12 East 49th Street. Owner William Kaufman Organization was represented by Frank Doyle, David Kleiner, Michael Lenchner, Hayley Shoener, Cynthia Wasserberger and Harlan Webster of JLL.

• Freddie Fackelmayer and Ramsey Feher represented Demandbase in a 15,931 s/f lease at 114 West 41st Street for the entire ninth floor. The term is five years and the tenant is moving from 405 Lexington Avenue. Landlord Equity Office Properties was represented by Erik Harris, Scott Klau and Zach Weil of NKF.

• Brian Hay, Timothy Hay and Robert Hill represent Zeno Group in a 10,114 s/f expansion/lease at 140 Broadway for the partial 39th floor. Owner Union Investment Real Estate was represented by Robert Constable, Louis D’Avanzo, Myles Fennon, Jedd Horn and David Tricarico of C&W.

• Alec Kirschner and Richard Levine represented Willdan in an 8,484 s/f lease at 88 Pine Street for the partial tenth floor. The term is five years. Owner Orient Overseas Container Line was represented by Frank Cento, Robert Constable and Edward Mombello of C&W.

• Zac Price represented Group RMC in a 6,584 s/f lease at One World Trade Center for the partial 83rd floor. The term is five years and the tenant is moving from 100 William Street. Owner Durst Organization was represented in-house by Karen Kuznick and also by Justin Royce and Barry Zeller of C&W.

• Michael Affronti and Sinclair Li represented Boyd Richards Parker Colonnelli in a 5,200 s/f sublease at 7 Times Square Tower for the partial 19th floor. The tenant is moving from 90 Park Avenue. Sub-sublandlord, Ashurst LLP, was represented by Ed Wartels of C&W.

• Ryan Alexander and Alex Benisatto represented Cambridge Associates in a 5,036 s/f lease at 437 Madison Avenue for the partial 22nd floor. Owner William Kaufman Organization was represented by Frank Doyle, David Kleiner, Michael Lenchner, Hayley Shoener, Cynthia Wasserberger and Harlan Webster of JLL.

Landlord Representation

• Michael Affronti, Ryan Alexander and Silvio Petriello represented owner RXR Realty in a 29,030 s/f lease with StepStone Group at 450 Lexington Avenue for the entire 31st floor. The term is 11 years. The tenant is moving from 885 Third Avenue and was represented by David Carlos of Savills Studley.

• Brad Gerla, Adam Leshowitz, Michael Rizzo and Rob Wizenberg represented owner CIM Group in a 13,950 s/f lease with Fullstack Academy of Code at 5 Hanover Square for the entire 11th floor. The tenant was represented by Brian Weld of C&W.

• Nathan Katz and Joel Wechsler represented sublandlord Reputation Institute in a 10,770 s/f sublease with Cineflix Media at 55 Broad Street for the entire 21st floor. The tenant is moving from 161 Avenue of the Americas and was represented by Michael Mathias of Savills Studley.

• Derrick Ades and Edward Goldman represented owner Stawski Partners in a 9,280-square-foot renewal with Kookmin Bank at 565 Fifth Avenue for the entire 24th floor. The term is ten years. The tenant was represented by Michael Burgio of C&W.

• Meghan Allen, Paul Amrich and Patrice Meagher represented owner Westbrook Partners in a 6,990 s/f renewal with Freeman & Company at 444 Madison Avenue for the partial 12th floor. The tenant was represented by Bryan Boisi and Jonathan Schindler of C&W.

• Jonathan Cope, Brad Gerla, Eric Kleinstein and Paul Walker represented owner ROZA 14W LLC (Alex Rovt) in a 6,791 s/f lease with Fleiscnher Potash Cardali Chernow Coogler Greisman Stark Stewart LLP at 14 Wall Street for the partial fifth floor. The tenant is moving from 61 Broadway and was represented by Roy Abraham and Bert Rosenblatt of Vicus Partners.

• Laurence Briody and Brian Gell represented sublandlord Centric Digital in a 6,200 s/f sublease with U.S. News & World Report at 120 Fifth Avenue for the entire seventh floor. The subtenant was represented by Eric Cagner and Greg Wang of NKF.

• Joseph Mangiacotti represented owner Chetrit Group in a 5,200 s/f lease with Investis at 240 West 37th Street for the partial 7th floor. The term is seven years. The tenant is moving from 12 East 49th Street and was represented by CBC Hunter Realty.

•••

Cushman & Wakefield announced a series of leases in the Manhattanville Factory District. Senior managing director Jon Fales was the leasing agent in each transaction.

• Gavin Brown Enterprises, a world-renowned art gallery, opened a newly-constructed gallery at 439 West 127th Street. the company leased 30,000 s/f in The Malt House, a 185,000 s/f project with several outdoor areas. The building’s main entry doubles as a Belgian block walkway to a new retail-lined outdoor courtyard. The building offers a combination of dramatic old brewery interiors with state-of-the-art new construction.

• Studio Museum Harlem opened 5,000 s/f of art studios for the museum’s artists-in-residence, art gallery and administrative/executive offices at The Sweets Building at 423-429 West 127th Street. the 50,000 s/f property is comprised of two distinct buildings connected by a central lobby and elevator core.

• At 1351 Amsterdam Avenue, Plowshares Coffee Roasters, a boutique wholesale coffee roaster serving Brooklyn, Manhattan, and the greater New York metropolitan area, signed an 1,800 s/f retail lease. 1351 Amsterdam Avenue is a 7,000 s/f two-story L-shaped building fronting both Amsterdam Avenue and West 126th Street.

•••

HSP Real Estate Group, a member of NAI Global, announced the following leases:

• Todd Korren and Albert Wu arranged a 10-year lease on behalf of the ownership of 28 West 36th Street with DePaula & Clark, an accounting and financial services firm. The tenant will be relocating from 30 West 22nd Street and expanding into a 2,700 s/f, partial fourth floor space. Korren and Wu are the exclusive agents for the landlord, 28-32 Herald Properties, LLC. The tenant was represented by Waite Buckley, of Vicus Partners, LLC. The asking price was $48 psf.

• Rob Frischman and Albert Wu arranged a lease for PEI Media Inc. at 130 West 42nd Street, between Broadway and Sixth Avenue. The British-based financial information group, which also has offices in London and Hong Kong, is expanding its New York footprint by relocating to the 6,963 s/f space at the newly refurbished building. Its previous office was at 16 West 46th Street. Landlords Tribeca Associates and Vanke US, were represented by Clark Finney, Mitch Konsker, Frank Doyle and Harlan Webster of JLL.

• Howard Epstein arranged a lease renewal for Cape Classics Inc., a South African wine distributor, at 16 West 36th Street, between Fifth and Sixth Avenues. The five-year extension is for the company’s 3,664 s/f space on the penthouse level and will begin December 1, 2018 after the current lease expires on November 30. Epstein also represented the landlord, Kiamie Industries, Inc. The asking price was $52 psf.

•••

GFP Real Estate (GFP) and owner Musart Associates announced 5,485 s/f of new leasing activity at 119 West 57th Street, a 16-story, 112,000 s/f building located in Midtown Manhattan. Tnants were delivered their space in white box condition and then built out the premises to meet their individual criteria and needs. The announcement was made by Brian Steinwurtzel and Eric Gural, co-CEOs of GFP, which acts as the property’s third-party manager. Roy Lapidus, Managing Director of GFP, represented the ownership in each of the transactions.

• Cynergy Physical Therapy P.C., signed a new 12-year, 4,800 s/flease on the sixth floor of 119 West 57th Street. The tenant relocated from nearby 145 West 57th Street.

• Midtown Nutrition Care, Inc., a Manhattan-based nutrition practice, signed a new 12-year lease for 685 s/f on the 12th floor. The tenant moved from a sublet space on the 14th floor of the building.

NEW JERSEY

A joint venture partnership between Heidenberg Properties Group, Strategic Real Estate Partners and Norse Realty Group has signed a new lease with Middletown Medical Group at the Thompson Square Shopping Center in Monticello, NY. Middletown Medical Group will occupy 8,413 s/f at the Sullivan County retail center by combining three tenant spaces, two of which were previously unoccupied, for its newest location. The location will enable Middletown Medical to consolidate two existing Monticello physician offices. Ken Simon, VP of Real Estate for Heidenberg Properties, made the announcement.

•••

John Guest USA, Inc. has leased 60,600 s/f at 20 East Halsey Road in Parsippany. The plumbing and industrial products manufacturer will relocate its North American headquarters operation to the Morris County industrial/flex property from Fairfield, NJ, in an expansion play, according to Colliers International NJ. Colliers’ John Donnelly represented John Guest USA in orchestrating the long-term lease. Thomas Consiglio and Scott Peck from Resource Realty served as brokers for property owner GTJ REIT. The property offers a 15,000 s/foffice component, extra parking capacity and future building expansion potential.

•••

Herb Zimmerman, senior vice president, of Bussel Realty Corp. (BRC), closed two industrial real estate transactions in Hillside, New Jersey, totaling 43,500 s/f.

• CNC Warehousing leased 26,000 s/f at 487 Hillside Avenue and 17,500 s/f at 100 Hoffman Place in Hillside, New Jersey. Zimmerman represented CNC Warehousing and the owner for each respective property was represented in-house. CNC Warehousing will utilize the spaces for distribution of its routers, mills, lasers, fiber lasers, plasma cutters and water jets to its local customer base. The company has a location in Linden, New Jersey and expanded its business. 100 Hoffman Place totals 550,000 s/fand has 14- to 18-foot ceilings, 11 tailboards and four drive-in doors, wet sprinklers, 1,000 amps of electric power and sits on 12.2 acres. 487 Hillside Avenue totals 192,000 s/f and has 10- to 15-foot ceilings, ten tailboards and three drive-in doors, dry sprinklers, and sits on 5.18 acres.

CONNECTICUT

Jon Angel, president of Angel Commercial, LLC, announced two new leases at 418 Meadow Street, Fairfield, CT, bringing the property to 100 eprcent occupancy:

• Convexity Scientific Inc. leased 3,072 s/f of space for their new headquarters. Convexity Scientific Inc. is a life sciences company. Its first medical device, a handheld nebulizer used to treat respiratory diseases, was recently cleared by FDA. They were represented by Newmark Knight Frank.

• Wise Language Services, leased the 1,775 s/f. Wise Language Services provides tutoring and ACT/SAT prep classes in Ridgefield, Fairfield & Newtown CT. The tenant was represented by Angel Commercial.

•••

Sean Cahill, Avison Young principal and managing director of the firm’s Fairfield/Westchester office, announced the closing of a new 6,700 s/f lease for Connecticut Counseling Centers, Inc. consisting of the entire ground floor of Commerce Plaza at 15 Commerce Road in Stamford, CT. Cahill, Eva Kornreich and Christopher Grundy arranged the 10-year lease on behalf of the building owners, Commerce Plaza, LLC. The tenant was represented by Larry Katz of Larry Katz Commercial Realty.

•••

Franco Fellah, Executive Vice President at HK Group, announced the following leases:

• Shoe Inn, a retailer that sells upscale women shoes and accessories, leased 1,200 s/f of retail space with a full lower level at 36 Elm Street, New Caanan.

• Coastal Connecticut Counseling, a therapy support center for individuals, couples, children and families leased 3,342 s/f of office at 2960 Post Road in Southport, CT.

• Waterman-Hurst, a senior executive consulting and advisory firm leased 2,170 SF of Class A office space at 40 Danbury Road Wilton, CT.

• Bird, Bonette, Stauderman, Inc., advertising production consultants, leased 2,500 s/f of direct waterfront office at 49 Riverside Avenue Westport, CT.

• JoyRide Cycling Studio, extended their 4,207 s/f lease in Darien. They have three additional locations in Westport, Wilton and Ridgefield.

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