NEW YORK CITY — Moda Operandi has signed a 30,000-square-foot industrial lease in Queens. The online fashion retailer is taking space on the third floor of the 157,000-square-foot, newly renovated building at 58-30 Grand Ave. in the Maspeth neighborhood, which is known locally as the Pearl Building. Rico Murtha, Helen Paul, Joe Hentze Jr. and Sonny Singh of Cushman & Wakefield represented the landlord, The Davis Cos., in the lease negotiations. Owen Hane of JLL represented the tenant.
COMMACK, N.Y. — Kids Empire will open a 21,000-square-foot indoor playground in the Long Island community of Commack. The facility will be located within a portion of a former grocery space at the 222,000-square-foot Mayfair Shopping and will be the brand’s first location on Long Island. Center E.J. Moawad of Levin Management Corp. represented the landlord in the lease negotiations. Melissa Naeder of Cushman & Wakefield represented Kids Empire.
NEW YORK CITY — Whole Foods Market will open an 8,500-square-foot store in Manhattan’s Hell’s Kitchen neighborhood on Wednesday, June 4. The small-format store will be located at 301 W. 50th St. and will offer a bakery and a prepared foods section. The opening of this store follows today’s opening of a 10,000-square-foot store within the StuyTown development in the East Village.
NEW YORK CITY — A partnership between Triangle Equities and The Michaels Organization has begun leasing a 40-story apartment building located at 111 Willoughby St. in downtown Brooklyn. Designed by GF55 and known as Maxwell Downtown Brooklyn, the building offers 227 units, 69 of which are designated as affordable for renters earning 130 percent or less of the area median income. Residences come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz-stone countertops, tile backsplashes and in-unit washers and dryers. Amenities include multiple lounging areas, a coworking zone, gaming area, private dining and party room and a resident-only coffee bar, as well as a landscaped roof deck with dining and lounge seating, a viewing bar and grilling stations. The partnership, which also includes financiers Geolo Capital and Helaba Bank, developed the property via a ground lease with The Roman Catholic Archdiocese of Brooklyn. Information on starting rents was not disclosed.
NEW ROCHELLE, N.Y. — Locally based owner-operator BRP Cos. has completed The Leaf, a 477-unit multifamily project located north of New York City in New Rochelle. The 26-story building is located in the city’s downtown area and offers one- and two-bedroom units, 119 of which are dedicated as affordable housing. Specifically, 20 units are reserved for households earning 50 percent or less of the area median income (AMI), while 99 residences are earmarked for renters earning 60 percent or less of AMI. The community also features approximately 20,000 square feet of amenity space that includes a pool, fitness center, coworking lounge, rooftop deck and dog run, as well as 3,000 square feet of ground-floor retail space. Construction began in early 2022.
WOODBURY, N.Y. — Rivian Automotive has signed a 41,000-square-foot industrial lease in the Long Island community of Woodbury. The electric vehicle maker is taking space at Crossways Logistics Center, a newly built, 145,200-square-foot facility, for its first Long Island service center. Nicholas Gallipoli, Frank Frizalone and Thomas DeLuca of Cushman & Wakefield represented the landlord, Rockefeller Group, in the lease negotiations. Roberto Rhett of GoodSpace NYC represented Rivian.
NEW YORK CITY — Whole Foods Market will open a 10,000-square-foot store in Manhattan’s East Village on Wednesday, May 14. The small-format store will be located within the StuyTown development at 409 E. 14th St. At the opening, Whole Foods will present Harlem-based supplier Uncle Waithley’s with a low-interest loan to help grow its operations and support expansion to more Whole Foods Market stores.
NEW YORK CITY — The Food Hall Co., a Dallas-based operator, has unveiled plans for Shaver Hall, a 35,000-square-foot culinary destination that will be located within the historic former Lord & Taylor building at 424 Fifth Ave. in Midtown Manhattan. Designed by ZGF Architects and ICRAVE, Shaver Hall will feature 11 curated food stalls, including an Omakase concept, a wine and cheese bar, a steakhouse and a modern bodega. Shaver Hall is scheduled to open before the end of the year.
MANHATTAN BEACH, CALIF. AND NEW YORK CITY — Global investment firm 3G Capital has entered into an agreement to acquire footwear retailer Skechers USA Inc. (NYSE: SKX). The sales price is $9.4 billion, according to The Wall Street Journal. Upon completion of the transaction, Skechers will become a privately held company. New York City-based private equity firm 3G will pay $63 per share in cash, representing a premium of 30 percent to Skechers’ 15-day, volume-weighted average stock price. The transaction also includes the option for existing shareholders of Skechers to instead receive $57 in cash and one unlisted, non-transferrable equity unit in the newly formed company. Founded more than 30 years ago in Manhattan Beach, Calif., Skechers maintains $9 billion in annual sales and is the third largest footwear company in the world. There are more than 5,300 Skechers retail stores worldwide that sell clothing, shoes and accessories at affordable prices. Skechers says the new private company will continue to execute its ongoing strategic initiatives, including the design of innovative products, international development, direct-to-consumer expansion, domestic wholesale growth and strategic investments in global distribution, infrastructure and technology. The Skechers board of directors unanimously approved the sale. Skechers will continue to be …
NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $166 million construction loan for a 367-unit multifamily project that will be located at 280 Bergen St. in the Boreum Hill area of Brooklyn. Designed by Fischer Rasmussen Whitfield Architects, the four-building development will consist of three 11-story buildings and one 12-story building in addition to 9,700 square feet of commercial space and 40 parking spaces. Residences will come in studio, one- and two-bedroom floor plans, and amenities will include a fitness center with a yoga studio, theater, game room, lounge and a children’s playroom. Galaxy Capital arranged the 30-month loan on behalf of the borrower, locally based developer Goose Property Management. Construction is expected to last about 28 months.