Stonehenge Closes on St. Vincent’s Housing

New York City

A Stonehenge Partners unit has closed on the $67.3-million acquisition of 555 Ave. of the Americas, which formerly served as housing for staff members of the now-bankrupt St. Vincent’s Hospital in Greenwich Village. The Stonehenge unit, known as Stonehenge Fund III LP, won the bidding for 555 Sixth Ave. at an auction last month; Crain’s New York Business reported that the property attracted 23 bidders. In a release, Stonehenge says it plans major renovations to reposition the 180,000-square-foot property’s residential and commercial components. Stonehenge principal Ofer Yardani says in the release that the deal represents the fourth acquisition through Stonehenge Fund III. It brings total gross investments through the fund to $345 million and increasies the value of the company’s portfolio to approximately $1.6 billion. Co-principal Joel Seiden thanks Stonehenge’s Canadian institutional partners, which include SITQ and another important player, for their continued support. He adds in the release, “We will be persistent in our efforts to acquire more properties in New York City.”

Kalmon Dolgin Affiliates has arranged the sale of a 114,000-square-foot development site at 365 Kingsland Ave. in Brooklyn’s Greenpoint section for $10 million. KDA’s Neil Dolgin, Joseph Nicholas and Jean Cook represented both the seller, Broadway Stages, and the buyer, Kingsland 359, LLC, in the sale. The property features a 20,000 square-foot building on a plot of 114,000 square feet zoned M-3 for industrial use.

In another development site deal, a 36,746-square-foot site at 84-86 White St. in Lower Manhattan has traded hands for $8.3 million. Eastern Consolidated’s Brian Ezratty represented the undisclosed seller in the transaction, while Louise Beit of Sotheby’s International Realty, acted on behalf of buyer 84-86 White Street LLC. The site, which formerly contained a parking lot, had been on the market for three years.

A commercial building at 1113-1123 Brighton Beach Ave. in Brooklyn’s Brighton Beach neighborhood has sold for $4.8 million in an all-cash transaction. The sale price equates to $400 per square foot on the 12,000-square-foot property, formerly the home of Odessa Restaurant. Massey Knakal’s Brian Hanson says in a release that the property attracted 21 offers before selling to a Russian investor. Hanson and Massey Knakal’s Valentin Presnov represented the seller, who was not disclosed.

High-end apparel brand LaCoste has signed an early lease renewal of its offices at 551 Madison Ave., expanding to 35,000 square feet in the process. It reconfigures consolidates the tenant’s space at the 17-story 551 Madison, where it previously occupied space on the fifth floor and three upper floors. Lacoste, whose existing lease was due to expire in 2014, now occupies floors 14 through 17, including an outdoor terrace, and part of the 13th floor. A Cushman & Wakefield team of Frank Coco, Don Preate, and Jamie Katcher advised Lacoste. C&W’s Owen Hane and John Fitzsimmons are leasing agents at the property, which is owned by LaSalle Investment Management, an independent subsidiary of Jones Lang LaSalle.

New York Blood Center has subleased the entire 21st floor of S.L. Green Realty Corp.’s 125 Park Ave. from Atlantic Philanthropies. A C&W team led by Glenn Markman represented Atlantic Philanthropies in the four-year, 26,000-square-foot sublease, with nonprofit leasing specialist Suzanne Sunshine of Sunshine & Associates playing a key advisory role. David Lebenstien of Cassidy Turley represented New York Blood Center.

Doral Bank has taken a 7,675-square-foot retail lease at RFR Realty’s 345 Park Ave. South. Robert K. Futterman, Joshua Strauss and Michael Worthman, all of Robert K. Futterman & Associates, represented RFR.  William Crisp of William Crisp Realty represented Doral Bank.

Pembrook Capital Management has originated a $47.1-million, 24-month fixed-rate loan to recapitalize 100 Eleventh Ave., a condominium development in Manhattan’s Chelsea neighborhood. The property construction is completed, and closings have taken place on 26 of its 54 units. In a release, Pembrook says the loan to developer Cape Advisors was completed in three weeks. 

Long Island

TD Bank is moving its regional suburban headquarters  to T. Weiss Realty’s 324 S. Service Rd. in Melville, NY. The Canadian-owned bank has signed a 12-year lease for 42,006 square feet and will have its name on the building. Paul Ferraro of USI Real Estate Brokerage Services represented TD Bank, while Ted and Craig Weiss represented T. Weiss in-house. Other recent deals at the newly constructed property, which is now more than 90% leased, include 15,000 square feet taken by the US unit of British insurer Aviva and a 4,000-square-foot space leased by Vitro Packaging LLC.

Fairfield County

Northmarq Capital’s Ernest DesRochers has arranged $5.5 million of construction/permanent loan financing for Danbury Student Housing located on Chestnut Street in Danbury, CT. The asset is a 36-unit multifamily development on a 3.5-acre site to be built near the downtown campus of Western Connecticut State University. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the undisclosed borrower by NorthMarq through its relationship with People’s United Bank. “Local market conditions are strong both in terms of standard multifamily housing and specifically student housing,” DesRochers says in a release.

Boston

Tech firm Kiva Systems has signed a new 163,415-square-foot lease at 300 Riverpark Dr. in North Reading, MA. Kiva will move from its corporate headquarters in Woburn, MA. A CB Richard Ellis/New England team of David Pergola, Mark Reardon and Jason Levendusky negotiated the lease on behalf of landlords DivcoWest and Taurus Investment Holdings. Brooks Murphy and Sean Lynch of Jones Lang LaSalle represented Kiva.