New York City
Six-time NBA All-Star Jermaine O’Neal, who recently signed a two-year contract with the Boston Celtics, has inked a contract of a different kind: a lease for showroom space. O’Neal’s recently launched menswear company, Asjiawear Inc., is taking 1,400 square feet at 530 Seventh Ave. Savitt Partners’ Marc Schoen, Bob Savitt and Michael Schoen represented the 460,000-square-foot property’s ownership, 530 Adler Realty RL, LLC. Michael Franz of Newmark Knight Frank spoke for Asjiawear.
On the subject of fashion-related deals, international brand Limoland has signed on for its first US retail location, with 1,350 square feet at Romanoff Equities’ 829 Washington St. Stephanie Snyder of Crown Retail Services negotiated the lease on behalf of Limoland, with Romanoff’s Darryl Romanoff representing the landlord.
The Dana Commercial Group at Prudential Douglas Elliman has arranged a 10-year lease of for designer Michael Kors to open a shop at 133 Fifth Ave. at 19th Street. This 2,500-square-foot Flatiron District location is presently occupied by a Benetton retail store. Gary Dana, Rck Dana and Adam Kramer represented Michael Kors; Cushman & Wakefield’s Joanne Podell represented Benetton.
Abel Cine Tech has bulked up its presence at 609 Greenwich St., signing a 23,605-square-foot lease that adds half a floor to its current full-floor space. The lease includes free rent and a work letter. Nicholas Farmakis of Studley represented Abel Cine Tech in the transaction. Daniel Levine of Newmark Knight Frank represented landlord Centaur Properties.
For its third gym in Manhattan, Mendez Boxing is taking 10,616 square feet at 60 Madison Ave. Jones Lang LaSalle’s Sean Black represented the tenant in the 10-year deal; the ownership was represented in-house by the Moinian Group’s Kimia Shadrokh.
Nonprofit the Art of Living Foundation, founded in 1981 by Sri Sri Rava Shankar, is preparing to occupy 4,000 square feet at 286 Fifth Ave. Daniel Kahn of the Kaufman Organization represented the tenant in the transaction, while Omid Pouratian of AB & Sons represented the landlord.Marcus & Millichap Real Estate Investment Services arranged a pair of multifamily sales in Brooklyn this past week, including the $1.65-million sale of 23 Pierrepont St., an eight-unit property in Brooklyn Heights, and a 29-unit property at 690 Rogers Ave. Buyers and sellers were not disclosed; Marcus & Millichap’s John Horotwitz arranged the 23 Pierrepont deal, while Matthew Fotis and Peter Von Der Ahe did likewise in the 690 Rogers sale.
Also in Brooklyn, Kalmon Dolgin Affiliates arranged the sale of the former site of PS 59 at 535 Leonard St. to a condominium developer for $2.3 million. The seller, Polish Legion of American Veterans – George Washington Post #3, and the buyer, MDIM, LLC, were both represented by KDA’s Joseph Nicholas. In addition, Bill Richko and Ralf Mayer represented the seller and the buyer in-house, respectively.
Upstate New York
A joint venture of Richfield Hospitality and Shelbourne Falcon Investors is buying the 279-room Renaissance Hotel at 701 E. Genessee St. in Syracuse, NY, with plans to convert it to a Crowne Plaza. Holliday Fenoglio Fowler’s Jay Marshall and Brain Carlton arranged the $9.85 million financing, a five-year, fixed-rate loan through Lydian Private Bank.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
