NEW YORK CITY—The Association of National Advertisers has renewed its 22,951 square foot lease at 708 Third Ave., aka the Commerce Building, and expanded by 17,865 square feet. Savills Studley EVP Daniel Horowitz and executive managing director Jeffrey Peck advised the association. Asking rents were in the $50's. Claude Chandonnet, president & CEO represented the landlord, Marx Realty & Improvement Co.
A two-building multifamily portfolio has traded for nearly $36 million in the Hamilton Heights section of Manhattan. The duo of towers is a 94-unit mixed-use apartment building located at 580 St. Nicholas Ave. and a 35-unit walkup at 106-108 Convent Ave. GFI Realty Services managing director of investment sales Roni Abudi, who represented both the buyer and the seller, also secured $22.3 million in mortgage financing to complete the transaction. In addition, Abudi arranged for the $30-million refinancing of several of the buyer's other real estate assets, providing the capital to facilitate the acquisition.
Eastern Consolidated has arranged the sale of a 67,000-square-foot, mixed-use property at 135-145 W. Kingsbridge Rd., in the Kingsbridge Heights section of the Bronx. The property sold for $14.75 million, or $220 per square foot. The six-story walk-up consists of 10 fully occupied retail stores and 57 mostly regulated apartments. Adelaide Polsinelli, principal and senior managing director at Eastern Consolidated, represented the long-term seller, and Ronda Rogovin, principal and senior director at Eastern, represented the buyer.
Prometheus Global Media has leased 33,180 square feet of space for its new headquarters at Worldwide Plaza, a 1.8 million-square-foot Class A office building that occupies the entire westerly blockfront of Eighth Avenue between 49th and 50th Streets. Chris Mongeluzo and E.N. Cutler of Newmark Grubb Knight Frank represented the tenant in the 10-year leasing transaction, while George Comfort & Sons' president and CEO Peter Duncan and EVP Matt Coudert represented the ownership, New York REIT. Asking rent for the space was in the low $70s.
Robert Kunikoff, executive managing director/principal, and Richard Kave, managing director of Lee & Associates NYC LLC (“Lee NYC”) along with Victor Menkin, president of Menkin Realty Services have arranged a long-term lease for Howl at the Moon at 240 W. 52nd St. The entertainment venue takes immediate occupancy at the 12,000-square-foot space formerly occupied by Lucky Cheng's. Menkin exclusively represented the building's owner.
Berkley Insurance Co. has signed a lease to expand its office space at 375 Park Ave. by 4,818 square feet, for a total of 12,635 square feet in the building. The tenant was represented by AJ Camhi, SVP of RFR Realty along with a leasing team led by Mitchell Konsker and Matthew Astrachan from JLL. Jeffrey Sussman of Property Group Partners represented Berkley.
Technology firm Bitly has expanded its space at 139 5th Ave. from 8,500 square feet to 11,000 square feet of space. David Kelinhandler and Michael Polliti at CBRE represented the tenant. John Fitsimons, Ethan Silverstein and Mark Mandell of Cushman & Wakefield represented the landlord, Thor Equities. Asking price for comparable office space in the neighborhood is approximately $70 per square foot.
ABS Partners Real Estate, along with Menkin Realty Services, has secured a 20-year, 7,850-square-foot lease at 126 Pearl St. for Barclay Rex, a third generation specialty tobacco shop. The company leased the entire four-story building and plans to relocate its retail shop and lounge to the ground and second floor of the building by the first quarter of 2016. Until then, the store has a temporary Downtown location at 90 Water St., along with a Midtown location at 70 E. 42nd St. Mark Tergesen and Dean Valentino of ABS represented the landlord, Longford Realty, while Victor Menkin of Menkin Realty Services represented Barclay Rex in the transaction. Asking rent was $300,000 per year.
Steinberg & Pokoik, owner of 575 Madison Ave. has signed a 12-year lease Breitling for a 7,000-square foot, three-level flagship retail lease. The Swiss watchmaker will move from its current storefront at 5 E. 57th St. to the iconic retail corner of 57th St. and Madison Avenue.? CBRE's Amira Yunis, along with Jonathan Moss of M&M Retail Luxury Consulting, teamed up to complete the transaction.?Yunis told the New York Post the asking rent was $1,900 per square foot on the ground and $250 per square foot for the second floor.
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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.
