NEW YORK CITY—ABS Partners Real Estate has secured a 10-year, 16,000-square-foot lease for Prime Office Centers at 521 Fifth Ave., an SL Green property. Prime Office Centers opted to renew its lease two years early on the 17th floor and will be renovating the space. Alan Friedmanand Robert Finkelsteinof ABS represented Prime Office Centers in the transaction, while SL Green—the city's largest office space landlord—was represented in-house by David Kaufman.
Investors Bank has found a new home for its commercial lending group at the Chrysler East Building at 666 Third Ave. The bank, which signed a 10-year lease for the division on the 27th floor, is expanding the group's Manhattan presence to 9,329 square feet. Investors was represented by the Garibaldi Group brokerage team of Jim Garibaldi, Michael Witko, Ed Flanagan and Kyle Mahoney. The building's landlord is Tishman Speyer.
Meridian Capital Group has negotiated an $18.5 million mortgage for the refinancing of 2105 and 2109 First Ave. for principals Shawn Vahdat and Saba Vahdat on behalf of K & V Realty Corp. and 2109 First Avenue Realty Corp. The two contiguous mixed-use properties in East Harlem total 66 units and 7,500 square feet of retail space. The five-year loan, provided by Suffolk County National Bank, features a competitive fixed-rate of 3.125% and a five-year extension option. This is the largest commercial loan that Suffolk County has written since inception in 1890. This transaction was negotiated by Meridian VP Isaac Filler.
Covington Fabric & Design has renewed its 7,200-square-foot lease for showroom and office space at 470 Seventh Ave. The firm will maintain its headquarters at the property through 2020. Marc Schoen and Brian Neugeboren of Savitt Partners represented the tenant in the lease transaction. Steven Kaufman acted on behalf of the ownership, the Kaufman Organization.
Thor Equities has leased 6,400 square feet at 50 Bond St.—which it owns—in NoHo to Lululemon. Located between Bowery and Lafayette Street, the two-level space features 13-foot ceilings on the ground floor, and over 30 feet of frontage on Bond Street.
RFR Retail has announced two new retail leases. The leases were sourced and negotiated in-house by RFR VP and director of retail leasing Jordan Claffey. Fields Good Chicken signed a new lease for 4,066 square feet of space at 275 Madison Avenue. The tenant was represented by Benjamin Birnbaum, Marc Frankel, and Jeffrey Roseman from Newmark Grubb Knight Frank. Meanwhile, on the ground floor of 90 Fifth Avenue, women's clothing retailer Brandy Melville signed a lease for 1,600 square feet of space. Alan Napack from Cushman & Wakefield represented the tenant in the 32-month lease.
Luxury bed producer Savoir Beds has signed a long-term, 3,295-square-foot retail lease at 223 E. 59th St., taking the ground floor and mezzanine. Colliers International's Peter Simel, managing director, tri-state vice chairman James Emdenand associate Timothy Pond arranged the lease on behalf of the tenant.
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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.
