NEW YORK CITY-NewsCred has signed a long-term lease for the 13,121-square-foot prebuilt sixth floor at 386 Park Ave. South. The company expects to relocate from its current offices at 27 West 24th Street in the second quarter of 2014. Elie Reiss of Skylight Leasing represented NewsCred in the long-term leasing transaction while the building's leasing agents, Paul Amrich, Neil King, Ross Zimbalist and David Young of CBRE, represented the building's owners, a partnership of William Macklowe Company and Principal Real Estate Investors. Asking rents at 386 Park Ave. South range from $55 to $72.
Boston-Avison Young has brokered an office lease at 101 Summer St. The AY team was led by Karyn McFarland, principal, while Matt Twombly, VP, represented the tenant, ICON architecture. There was no landlord representation. The five-story office building features ground floor retail located in Downtown Crossing.
NEW YORK CITY-Muss Development has arranged a long-term, full-floor expansion and relocation for Frank Blancato at 64 W. 48th St., near Rockefeller Center. The jeweler—who currently leases approximately 3,918 square feet on the 16th floor — is expanding and relocating within the building. The tenant will vacate its existing quarters and move into the entire 8,866-square-foot 7th floor in January, pending build-out of the space. Ross Spitalnick, of Muss, arranged the transaction.
GARDEN CITY, NY- Sabre Real Estate Group the metropolitan region's newest retail brokerage, has arranged a lease in Commack, NY on behalf of Romacorp., the parent company of Tony Roma's restaurants. Romacorp leased a new, 6,500-square-foot freestanding building in the Cosentino Commerce Center at Henry street and Crooked Hill road. Construction is now underway and the new eatery, which features ribs, steaks and more, is expected to open during the first quarter of 2014. Stu Fagen, managing director of Sabre, arranged the lease with the landlord, Cosentino Realty Group, on behalf of Roma's.
GREENWICH, CT-AVANT Capital Partners, a leading commercial real estate bridge lender, has originated a $3.1 million bridge loan secured by an under-utilized two story building in New York City. The interest only 12-month loan carries an interest rate of 10.00%, refinanced the first mortgage and provided predevelopment funding for the project sponsor. The loan was originated by Wei Li, a director at AVANT. The property, in the Sutton Place neighborhood, is at 308 E. 59th St., near the second avenue intersection.
NEW YORK CITY- DryClean NYC is coming to Hillview Towers at 708 St. Nicholas Avenue, between 145 and 146th Streets. The lease, for approximately 600 square feet, was arranged on behalf of the landlord and tenant by Douglas Elliman's Retail Group's Faith Hope Consolo, chairman, Joseph Aquino, EVP and Arthur Maglio.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
