(Save the date: RealShare New York comes to the Grand Hyatt, New York, NY, October 9.)

Queens

Locally-based LeFrak Organization wasted no time working to lease-up its first New York City rental building in nearly three decades. After officially opening its doors to new residents this week, the Contour – the family’s latest luxury apartment building at 97-45 Queens Blvd. in Rego Park – is already more than half-full, hitting a whopping 70% occupancy.

The building, formerly utilized as offices for professional service tenants, was converted by the LeFraks for residential use as part of a larger company strategy. “We are constantly evaluating opportunities to re-invest and reposition as market conditions dictate,” Mario Gatzambide, VP at the LeFrak Organization, previously told GlobeSt.com earlier in the summer during pre-leasing efforts. “From a conversion from an office building to multifamily, which became the highest and best use, one of the things that we are doing in the rest of our portfolio here in New York, is heavily reinvesting in our units, finishes, amenities and common spaces to take advantage of a very strong market.”

At 12 stories and 108 units total, studios starts at $1,550; one-bedrooms range from $2,000 to $2,500; one bedrooms plus libraries start at $2,700; and two-bedrooms and two bathrooms start at $2,800. The units are available through the company’s Kings and Queens website, but an on-site leasing office is also open to the public.

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Manhattan

Fashion designer Perry Ellis International putting the Hippodrome Building back in style, taking a cool 96,350-square-foot long-term lease here at the Edison Properties LLC-owned 1120 Avenue of the Americas. the international apparel and accessories designed will occupy a portion of the seventh floor, the entire eighth floor and the entire 14th floor, according to Jones Lang LaSalle, who brokered the deal.

The tenant, Perry Ellis International, was represented by Robert Martin and Matthew Astrachan, vice chairmen; Alexander Chudnoff, executive managing director; and Brad Lane, associate, all with JLL. The sublessor, Huron Consulting, was represented by Lisa Kiell, managing director, and Douglas Neye, senior vice president, both with JLL. The building owner, Edison Properties, was represented by Michael Burgio, John Cefaly and Gus Field, vice chairmen, with Cushman & Wakefield Inc.

Also in Midtown: ABM Industries, a building maintenance and facility services provider, has inked a lease renewal at the Fred F. French Building on Fifth Avenue, according to the Feil Organization, the property owners. ABM – who has been a tenant at 551 Fifth since 1990 – re-upped its 29,063-square-foot lease and plans to expand its operations after listing on the New York Stock Exchange and becoming a Fortune 500 Company. "Not only is ABM a respected and prestigious tenant in our landmark building, but they also maintain several of our buildings in Chicago,” says Kevin Driscoll, director of commercial leasing at Feil. “We look forward to continuing the relationship."

Brian Feil and Kevin Driscoll represented Feil; Rob Martin and Brad Lane of Jones Lang LaSalle represented the tenant. Brian Palumbo and Michele Frankel worked as in-house legal counsel for Feil.

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Brooklyn

Earlier this week at the Brooklyn Navy Yard, Time Warner Cable furthered its commitment to the commercial real estate community. Time Warner Cable Business Class, a division of the cable company, has committed $25 million to expand its fiber optic network across the city. It is also finishing a multi-million dollar investment to provide fiber-based solutions to tenants of the 300-acre business complex.

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Bronx

KZA Realty Group’s president and owner Kathy Zamechansky has been busy in the Bronx, brokering three deals totaling 38,332 square feet. In the first deal, the Post Graduate Center for Mental Health purchased 304 Echo Place from John Basmanov for $900,000. At 3305 Third Avenue, owned by Sam Gaccione of TNS Development Group, Forever Young Social Adult Day Care signed a 10-year lease for 7,300 square feet on the 1st floor for a total value of $2,036,530. Lastly, at 122 Westchester Square, a 1,032 square-foot store owned by Dorado Realty LLC, was leased for 5 years by co-owners Jack Griffin and Frank Scarano of MJ Brick Oven Pizza for a total value of $151,054.00. The pizzeria is one of 10 newly-constructed stores on Westchester Avenue in the Westchester Square section of the Bronx, where a fire destroyed the former stores.

"Our goal is always total satisfaction for our clients," Zamechansky says. "Our experience and solid knowledge of the Bronx market allowed these deals to come together for the benefit of our clients on both sides."

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