NEW YORK CITY — JLL has brokered the $44.1 million sale of an industrial development site with three adjacent warehouses in Brooklyn. The property consists of three adjacent, single-story warehouses totaling 51,155 square feet and can support an additional 97,910 square feet of new development. Brendan Maddigan, Stephen Palmese, Winfield Clifford, Michael Mazzara and Ethan Stanton of JLL represented the seller, EcoRise Development LLC. The JLL team also represented the buyer, 473 President LLC.
NEW YORK CITY — Madison International Realty has signed multiple new leases and lease renewals with several food and beverage tenants in preparation for the opening of a new 1,500-square-foot food court at Queens Place Mall, located in the Elmhurst neighborhood of Queens. Dunkin Donuts and Mrs. Fields have both renewed leases at the 440,000-square-foot mall. In separate negotiations with three new tenants, Chipotle has leased 2,532 square feet, Teriyaki One has leased 1,134 square feet and TeaCups has leased 400 square feet. Diana Boutross, Alan Schmerzler, Ian Lerner and Brandon Singer of Cushman & Wakefield represented Madison International in the negotiations. Boutross and Lerner represented Chipotle, Dunkin Donuts, Mrs. Fields and TeaCups. Peter Yoon of Ripco represented Teriyaki One. Construction is slated for completion by summer 2020.
NEW YORK CITY — Knotel, a New York-based flexible workspace provider, has signed a 27,000-square-foot lease at 240 West 35th Street, a 165,000-square-foot class A office building in Manhattan. The space will comprise the entire 7th, 8th and 18th floors of the property. Essential Design + Build will renovate the space with both open offices and closed meeting rooms. Knotel plans to move into the space in fall 2019. Colin Godwin and John Cinosky of Atco Brokerage Services represented the landlord, ATCO Properties & Management internally in the lease negotiations. Douglas Regal, Jamie Katcher and Sebastian Infante of Cushman & Wakefield represented Knotel.
NEW YORK CITY — A partnership between Charney Construction & Development and Tavros Holdings is nearing completion of The Dime, a 350,000-square-foot mixed-use project in Brooklyn. The tower incorporates the Dime Savings Bank building, originally constructed in 1908, into a mixed-use development featuring 177 residential units, more than 100,000 square feet of office space and 50,000 square feet of ground-floor retail space. Amenities include an acre of outdoor space, a basketball court and a 10,000-square-foot rock climbing gym recently leased by MetroRock. Fogarty Finger is the architect of the project.
NEW YORK CITY — Seagis Property Group has acquired two industrial properties totaling 101,000 square feet in New York City. The first property, a 75,000-square-foot warehouse in Queens, features 25-foot ceiling heights and 19 exterior loading docks and has been re-tenanted. The second property, a 26,000-square-foot warehouse, features a 5,000-square-foot secured yard and is fully occupied. The sellers and sales prices were undisclosed.
LONG ISLAND, N.Y. — CBRE has announced the sale of Hawthorne Court, a 434-unit multifamily community on Long Island. The property was built in 1968 and offers studio, one-, two- and three-bedroom units. Shared amenities include onsite laundry and gym facilities and a pool. CBRE’s Jeffrey Dunne, Gene Pride and Travis Langer represented the seller, a joint venture between Post Road Group and Spruce Capital Partners, in the transaction. The CBRE team also procured the buyer.
NEW YORK CITY — JLL has negotiated a 27,811-square-foot office lease for Marquee Brands LLC at 330 West 34th. Street in New York City. Designed by Schulze & Weaver, the 682,000-square-foot building was completed in 1926. Mitchell Konsker, Alexander Chudnoff, Benjamin Bass and Harrison Potter of JLL represented Marquee in the transaction. Josh Glick and Jared Silverman represented the landlord, Vornado Realty Trust, in-house.
SPRING LAKE, N.J., and NEW YORK CITY — M&T Realty Capital Corp. has provided two loans totaling $56.2 million for seniors housing communities in Spring Lake, New Jersey, and New York City. In the first transaction, Paula Quigley, Aaron Anglad and Matthew Pipitone of M&T provided a $16.1 million Fannie Mae Seniors Housing loan to refinance a 106-unit seniors housing property in Spring Lake. The 15-year loan was structured with a 4.66 percent fixed interest rate loan and four years of interest-only payments followed by a 30-year amortization schedule. In the second transaction, M&T provided a $40.5 million FHA-insured loan to refinance a 300-bed skilled nursing facility in Staten Island. The fully amortizing loan features a 35-year term, 3.9 percent fixed rate and 60 percent loan-to-value ratio. Quigley and Pipitone, along with Jennifer Kooney of M&T, secured the debt.
NEW YORK CITY — The Feil Organization has leased 9,389 square feet of retail space to three restaurants at 7 Penn Plaza, a 357,000-square-foot building in Manhattan. Sticky’s Finger Joint, Sweetgreen and Naya Express will join Starbucks and The Juice Shop on the ground floor of the building, with all three restaurants expecting to open within the next few months. Randall Briskin represented The Feil Organization internally in all three transactions. Jacqueline Klinger of The Shopping Center Group represented Sweetgreen, and Adam Langer of SRS Real Estate Partners represented Sticky’s Finger Joint and Naya Express.
LONG ISLAND, N.Y. — Woodmont Industrial Partners has acquired 100 Precision Drive, a 130,565-square-foot industrial property on Long Island. Built in 2002, the single-story property features 25-foot clear heights and 325 parking spaces and is located less than a half mile from I-495. Woodmont Industrial will upgrade the building with a new sprinkler system, new roof, LED lighting and dock doors.