New York City

|

The first office lease at Metropole Realty Advisors' newlyrenovated 681 Fifth Ave. was signed by Global Thematic Partners, aninvestment management boutique launched earlier this year byDeutsche Asset Management. Global signed a 5,835-square-foot leasefor the entire 12th floor of the 18-story building, and wasrepresented by CBRE's Michael Movshovich. Cushman & Wakefield'sMitchell Konsker, Matthew Astrachan, Robert Gallucci and ScottSilverstein are the exclusive leasing agents for 681 Fifth.

|

AMSEC, LLC, a wholly owned subsidiary of Northrop GrummanShipbuilding, has leased 8,000 square feet at W&H Properties'112 W. 34th St. George Relyea of CBRE represented AMSEC in thelease negotiations. Barry Zeller and Audrey Coe of C&Wrepresented landlord W&H Properties. The naval architecture andmarine engineering firm will relocate from 350 Broadway to apre-built suite on the eighth floor of 112 W. 34th.

|

Marcus & Millichap Real Estate Investment Services hasarranged the sale of 407 Park Ave., a retail building fully leasedto men's clothing retailer Stefano Ricci. The property sold to LandFinance Corp. for $8.7 million, or $2,023 per square foot. Marcus& Millichap's Adelaide Polsinelli and Steve Siegel representedthe seller, 407 Park LLC, while colleagues Glen Kunofsky and JamesVentura represented the buyer.

|

Colossal Media Group, said to be the largest hand-paintadvertising company in the US, inked a seven-year,7,500-square-foot lease of the entire one-story warehouse buildingat 85 Wythe Street in Brooklyn. Jacques Wadler and Vincent Lopez ofKalmon Dolgin Affiliates represented both the owner, Wythe, LLC,and Colossal Media Group in the transaction.

|

Weschester County
Insurer Liberty Mutual has renewed its lease two years early at TenBank St. in downtown White Plains, relocating within the buildingto a newly built 5,195-square-foot space on the seventh floor ofthe 225,000-square-foot office property. Malkin Properties' JeffreyNewman and senior leasing associate Kimberly Zaccagnino representedthe landlord in this transaction. Robert Shulman of CresaPartnersrepresented Liberty Mutual. It is the firm's second renewal sincetenancy began in 1997.

|

New Jersey
Grand Central Professional Park in East Brunswick has signed on twomedical tenants at the 35,000-square-foot office and medicalcondominium project. A pediatrics practice plans to occupy a4,000-square-foot condo unit, and a urology practice picked up a3,000-square-foot unit. Weichert Commercial Brokerage's BethKrinsky, Pat Masi, Mario Chiarella and Mark Fowler will handle themarketing. Units at the park ranging from 1,500 square feet to11,500 square feet are now available for sale. Those without abuild-out are priced starting at $250 per square foot, while thosewith a build out run around $299 per square foot. "We are seeingactivity from professional/medical users who are tired of payingrent and looking for an equity stake in a professional facility tobuild, enhance or upgrade their practice," says Pat Masi, "We havetwo medical practitioners already on board and anticipateadditional interest from professional/medical tenants."

|

New York State
Sperry Van Ness recently completed the sale of a 57,498-square-footTops Supermarket at 5150 North St., Canandaigua, NY, to a privateNew York for $8.75 million. Joseph French and Tom Dalzell of SVN'sWhite Plains office represented seller Phillips Edison &Company out of Salt Lake City as well as the buyer.

|

Additional reporting by Alyson Grala.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

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.