Atlantic Northeast Area News

Skyline Developers Pay $83M for Development Site Adjacent to the Peninsula Hotel

Skyline Developers, the New York City affiliate of Garden Homes Development, has acquired the 8,000-square-foot (0.184-acre) development site at 12-18 W. 55th St. in New York City for $83 million from Barings Real Estate Advisers LLC, a $280 billion global asset management firm. The site sits adjacent to the University Club and Peninsula Hotel in Manhattan's Plaza District, near the famed Fifth Avenue retail corridor, Lincoln Center and Central...
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Posted: September 19, 2017, 12:15 pm

SL Green Signs Two Lease Amendments at Graybar Bldg

Prominent litigation defense firm Litchfield Cavo LLP has renewed its 18,275-square-foot lease and expanded into an additional 8,346 square feet in the Graybar Building at 420 Lexington Ave. in New York City, bringing its total occupancy there to 26,639 square feet through 2027. In a separate deal, the Entertainment Software Association has extended its lease term through 2022 while relocating within the building to a 10,774-square-foot space. The...
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Posted: September 19, 2017, 8:22 am

Cushman & Wakefield Taps Gougarty as Practice Groups Lead, Americas

Sara Gougarty has been promoted to lead Cushman & Wakefield’s Practice Groups in the Americas. Based in the firm's New York City office, Gougarty will lead the firm's current practice groups and launch new ones, tasked with enabling and fostering collaboration across all asset, product and service types, marketing each practice group’s qualifications and expertise and enhancing client services across the Americas platform. She will report to...
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Posted: September 19, 2017, 2:53 am

Office Lease Up (September 18) NRG to Significantly Expand Presence in Downtown Houston with 400,000-SF Sublease at One Shell Plaza

NRG Energy (NYSE: NRG) has finalized a deal to sublet 431,037 square feet at One Shell Plaza in downtown Houston from Shell Oil Co. A leading American energy company dual-headquartered in Princeton, NJ and 1201 Fannin St. in downtown Houston, NRG will fully occupy 18 floors within the 50-story, 1,228,923-square-foot, Class A high-rise completed in 1970 in Houston's central business district. The Jackson Walker, LLP team of Pat Sharkey and Amanda...
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Posted: September 18, 2017, 1:00 am

Shoe Retailer Aerosoles Files Ch 11; Closing 74 Stores

Aerosoles, leading women's footwear brand, and other subsidiaries of parent company AGI HoldCo Inc. filed to reorganize under chapter 11 of the U.S. Bankruptcy Code. A critical portion of the company's restructuring is a significant reduction in the number of retail stores it operates. Aerosoles operates 78 retail locations in 20 states, principally in lease-based mall locations, lifestyle centers, street locations and outlet centers. It plans...
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Posted: September 15, 2017, 4:39 am

Monday Properties Appoints Dreilinger as SVP, General Counsel to Support Firm's National Expansion

Evan Dreilinger has joined Monday Properties as senior vice president and general counsel for the real estate investment firm. In this newly created role, Dreilinger will oversee all legal matters for the company. Currently in buy mode, the firm will draw on Dreilinger's experience in commercial real estate transactions and asset management to support its national expansion. Dreilinger brings more than 18 years of experience in commercial real...
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Posted: September 14, 2017, 9:22 am

SL Green, RXR Acquire JV Interest in New York REIT’s One Worldwide Plaza

SL Green Realty Corp. (NYSE: SLG), one of New York City’s largest office property owners, and RXR Realty, a private investment manager, have agreed to acquire a combined 48.7% interest in One Worldwide Plaza, a 4-Star trophy asset at 825 Eighth Ave. in Midtown Manhattan. The ownership interest is being sold by New York REIT (NYSE: NYRT), which will continue to control the remaining equity in the property with WWP Sponsor LLC, its existing partner...
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Posted: September 14, 2017, 2:51 am

JLL Wins Assignment to Find Electric Vehicle Charging Sites in $2 Billion Volkswagen Investment

For years, CRE brokers have predicted that electric vehicle (EV) charging stations will become standard amenities at office buildings, shopping centers, hotels, service stations and even restaurants. Volkswagen subsidiary Electrify America just handed JLL an assignment to identify EV charging station sites in 17 metros, nearly half of them in California, in an investment that will significantly add to the more than 16,000 charging stations already...
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Posted: September 14, 2017, 2:40 am

Tsai Capital Corporation Taps Michel to Advisory Committee

Matthew Michel has joined equity management company Tsai Capital Corporation’s advisory committee. Michel said he looks forward to leveraging the resources at his disposal to add value to Tsai Capital and to its advisory committee. "Matt has had a long relationship with the Tsai family and with my late father, Gerald Tsai, Jr.," stated Christopher Tsai, president and CIO of Tsai Capital. "I am thrilled that Matt has now joined Tsai Capital...
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Posted: September 13, 2017, 8:36 am

Perry NYC Buys Mixed-Use Bldg in Tribeca

The Office of Thierry W. Despont Ltd. sold the six-unit, mixed-use building at 70-72 Laight St. in New York, NY to Perry NYC LLC for $17.75 million, or approximately $4.44 million per unit. The 12,500-square-foot development consists of four residential units above two commercial units. The five-story building delivered in 1994 in the Tribeca MF submarket of Manhattan. Shaun Osher of CORE represented the seller and was the sole broker on the...
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Posted: September 13, 2017, 8:18 am

Tiffany & Co. Leases 17,000 SF in Chelsea

Tiffany & Co. leased 16,909 square feet in the office building at 53 W. 23rd St. in New York City. The 12-story, 230,000-square-foot office building was originally constructed in 1915 on one-third of an acre in the Chelsea submarket of Manhattan, between Fifth and Sixth Avenues. The renowned jewelry company will take occupancy of the entire seventh floor, where asking rents are in the $66 per square foot range, joining other notable companies...
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Posted: September 12, 2017, 9:08 am

Wide Orbit Subleases 19,000 SF in Chelsea

Wide Orbit, an advertising management software company, has subleased 18,810 square feet at 275 Seventh Ave. in New York, NY. Built in 1920, the 27-story building totals 600,000 square feet in the Chelsea submarket. The property is currently owned by Unite Here Health, which occupies space in the building along with Regus, Class Pass and Crossmedia. Wide Orbit’s lease includes the entire 23rd floor. Michael Mathias, Scott Weiss and Erik...
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Posted: September 12, 2017, 8:24 am

Amazon Selects Staten Island to Open First Fulfillment Center in New York

Amazon (NASDAQ: AMZN) has announced plans for a new 855,000-square-foot fulfillment center on Staten Island, NY. The proposed high-tech facility will be the e-commerce giant's first fulfillment center in the state, and is expected to create more than 2,250 new, full-time jobs with opportunities for employees to engage with advanced robotics to pick, pack and ship customer orders from household essential to books and toys. "We are excited to...
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Posted: September 11, 2017, 4:14 am

Akelius Acquires 118-Unit Gramercy East Mid-Rise

Benedict Realty Group (BRG) sold the 118-unit Gramercy East apartments at 321 E. 22nd St. in New York City for $60.9 million, or approximately $516,000 per unit, to Akelius US. The six-story, 81,500-square-foot multifamily building consists of studios, one- and two-bedroom units above 6,000 square feet of storefront retail space. The property was built in 1968 on one-third of an acre in the Gramercy Park MF submarket of Manhattan, between 1st...
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Posted: September 7, 2017, 6:49 am