New York City

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Chicago-based Spotlight Business Affairs, Inc. has leased theentire 6,667-square- foot 20th floor at Jack Resnick & Sons' 8W. 40th St. for its New York office. The firm is relocating from494 Eighth Ave. CB Richard Ellis' Ramsey Feher and Jared Silvermanof CB Richard Ellis represented the tenant in the long-term lease;Dennis Brady and Fran Delgorio provided in-house representation forJack Resnick & Sons.

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The Kaufman Organization recently secured a five-year,6,000-square-foot expansion lease for Zelda at 260 W. 39th St. Thewomen's apparel manufacturer will use the space for showrooms,offices, a design room, and a warehouse. Asking rent for the spacewas $35 per square foot. Michael Heaner and Grant Greenspan ofKaufman represented the tenant; Heaner also represented thelandlord. Before its expansion, Zelda occupied 4,500 square feet at499 Seventh Ave.

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Storage Deluxe has closed on a purchase and development deal fora 37,475-square-foot parcel of land at 124-16 31st Ave. in theCollege Point section of Queens. Law firm Cohen & Perfetto LLPprovided legal representation for Storage Deluxe, which bought the0.75-acre plot from Home Depot USA; brokers in the transaction werenot identified. The buyer plans to build a self-storage facility toopen at year's end. The deal involves nearly $8.2 million worth offinancing from M&T Bank, a $2.1-million purchase price and anestimated $3 million in project costs.

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In the largest of seven Garment District leases recentlyarranged by Adams & Co., Scissors Design has signed afive-year, 4,270-square-foot retail renewal. at 48 W. 37th St. forScissors Design, Ltd. David Levy and Joseph Friedman of Adams &Co. represented the broker and landlord in the transaction. Askingrents were $95 per square foot. Rents for the other six deals werein the high $30s per square foot. Together, the leases total 11,700square feet. "Children's wear and women's apparel are particularlyactive right now in the market and helping them find space amonglike-minded organizations is really helping to drive business inthe Garment District," David Levy, principal of Adams & Co.,says in a release.

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Time Equities Inc. has signed a three-year extension for the7,000 square feet occupied by Perfect Studios, the first tenant tolease space at TEI's 7-24 24th St. when the redeveloped propertyopened in 2005. TEI's Francis Greenburger and Robert Singer workeddirectly with the tenant, which subleases studios to professionalartists to use for their work space and showings. Also known as theSilks Building, the 110,000-square-foot loft building is 98%occupied.

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Marcus & Millichap Real Estate Investment Services hasbrokered the sale of a 7,264-square foot Walgreens drugstore at2191 Richmond Ave. in Staten Island. The $9.5-million sales pricerepresents a cap rate of 7.25%. Marcus & Millichap's StevenSiegel and Scott Plasky represented the seller, a Walgreenspreferred developer. The buyer was not disclosed.

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Westchester County
Fifth Street Capital and its investment advisory, fund managementand administrative affiliates have added 4,818 square feet at TenBank Street in downtown White Plains. The tenant relocated itsheadquarters to Ten Bank this past August, and now occupies a totalof 18,286 square feet of headquarters space. A Malkin Propertiesteam of Jeffrey Newman and Kimberly Zaccagnino represented thebuilding ownership; the tenant was self-representing.

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Long Island
Ajoint venture of Glen Cove-based General Anesthesia Services, LLPand Lake Success-based CPA and business advisory firm Lion &Co. CPAs, has bought a 13,000-square-foot office property at 75Jackson Ave. in Syosset for $2.55 million. Newmark Knight Frank'sScott Berfas and Michael Silver represented both groups in thetransaction. Real Estate Strategies, Ltd. represented the seller,SJS Realty, LLC.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.