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[22 Aug 2014 | No Comment | ]
Klosed bets on Soho growth

Steven Kachanian’s Klosed Properties has bought a 2,200 s/f retail condo at 202 Spring Street for $7 million. The deal is another sign that Soho’s retail market is continuing its rapid expansion – geographically as well as financially.
The retail condo at the corner of Spring and Sullivan Streets is well beyond Soho’s retail heartland. But Kachanian hopes that a flurry of new developments nearby and skyrocketing rents around Broadway will drive more retail into western Soho.
“We are confident that foot traffic is going to increase and rents will spike up,” …

Deals & Dealmakers, Featured »

[21 Aug 2014 | No Comment | ]
Apartment plan for Crown Heights brewery building

Crow Hill Development has sold a 22,000 s/f development parcel at 608-614 Franklin Avenue in Crown Heights for $17.5 million.

TerraCRG’s Melissa DiBella said that the developer recently filed plans for a mixed-use residential building.

Deals & Dealmakers, Featured »

[21 Aug 2014 | No Comment | ]
Katcher carving out his own niche is city’s evolving tech sector

Cushman and Wakefield’s Jamie Katcher is lassoing the New York City tech market, one startup at a time.

The Westfield, New Jersey native has spent more than ten years at C&W, first joining the firm in 2003, and has amassed a slew of experience and awards, including being named “Most Promising Commercial Salesperson of the Year” by REBNY in 2006, just five years into his career.

Now a senior director at C&W, Katcher has now found his niche working on deals with companies in the TAMI sector.

Deals & Dealmakers »

[21 Aug 2014 | No Comment | ]

As a multi-million dollar capital improvement campaign nears completion, leasing activity at the 90,000 s/f Stamford waterfront office building located at 700 Canal Street continues at a brisk pace.
Nine new tenants have moved into the property over the past year, committing to over 36,000 s/f of office space.
The CBRE team of Brian Carcaterra, senior vice president and Michael McCall, vice president oversee the marketing campaign of the asset on behalf of ownership ClearRock Properties, which acquired the property as part of the 270,000 s/f four-building portfolio, which also included 850, …

Deals & Dealmakers, Featured »

[21 Aug 2014 | No Comment | ]
LEASES: DJK signs Roxx Diamonds; Fisher Bros. welcome private equity firm to 299 Park

Roxx Diamonds has signed a lease for 1,300 s/f of office space at 425 Madison Avenue. Roxx Diamonds is one of the largest manufacturers of fine diamond jewelry, bridal, diamond bracelets and certified diamonds in the world.

Deals & Dealmakers, Featured »

[21 Aug 2014 | No Comment | ]
WHO’S NEWS: Stephen Palmese is newest Massey partner; Rob Montaquiza moves to MHP

Massey Knakal Realty Services announced that Stephen P. Palmese has been promoted to partner at the firm.

Stephen began his career at Massey Knakal ten years ago as an Intern and worked his way up to Associate, then Agent, and now Partner.

Deals & Dealmakers, Featured »

[21 Aug 2014 | No Comment | ]
Kings Highway buildings sold for $80M

Infinity Real Estate has partnered with Nightingale Properties to buy two mixed use buildings on the Kings Highway in Brooklyn for $80 million.

Sources say the company plans to erect a new mixed use building on part of the site that would include retail and, possibly, medical offices above.

The properties include Kingswood Plaza, a 230,000 s/f mixed-use building whose tenants include TJ Maxx and NY Sports Club, medical tenants, and 250 underground parking spaces.

Deals & Dealmakers »

[20 Aug 2014 | No Comment | ]

Cassidy Turley represented Northeast Fulfillment, doing business as Life Extension, a pioneer in the dietary supplement industry, for 68,043 s/f at 150 Fieldcrest Avenue in Edison, NJ.
Associate vice president Jason Barton represented the tenant. The owner, Summit Associates, Inc., was represented in-house.
Life Extension recently moved from its Long Island, NY, location to the Edison, NJ, property to accommodate its growing business.
The industrial property is near major highways including Interstate 287, U.S. Route 1, the New Jersey Turnpike and Garden State Parkway, and it is in close proximity to public transportation …

Deals & Dealmakers »

[20 Aug 2014 | No Comment | ]

CBRE Group Inc. announced the completion of two industrial lease transactions for Home Depot and Ferguson Enterprises, which rank as the third and fourth largest industrial transactions, respectively, in the past three quarters.
The CBRE team of Mindy Lissner and William Waxman, executive vice presidents, led each transaction team.
“As evidenced by these two large deals in the sector, home building and home improvement are on the upswing, particularly in New Jersey,” said Waxman.
“This echoes the national trend in increased construction spending, which marks an economic uptick steered by the residential market.
The …

Deals & Dealmakers »

[20 Aug 2014 | No Comment | ]

Eastern Consolidated has been retained as the exclusive agent to market a development opportunity for a long-term net lease at 111-115 East 24th Street in Midtown South. Located on East 24th Street between Park and Lexington Avenues, the site is zoned for
38,000 s/f on 5,925 s/f of land, which is currently occupied by a commercial parking lot and can be delivered vacant. The property also features 60 feet of frontage on East 25th Street and a 30-foot curb cut. Brian Ezratty, Peter Carillo and Scott Ellard represent the owner.
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Kalmon Dolgin …

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