2017 Media Kit New York Real Estate Journal Quick Read Serebrowski and Schwartz of Meridian arrange financing: $7.2m Volume 28 ■ Issue 16 nyrej.com August 16 - September 5, 2016 THE ORBACH GROUP SELLS PORTFOLIO TO BLACK SPRUCE MANAGEMENT Jungreis of Rosewood Realty The two commercial condos, which are located at 129 Grand St. in SoHo and 19 Bond St. in NoHo, and total four units . handles 14-property sale: $110m SEE PAGE 6A MANHATTAN, NY Rosewood Realty Ninth Aves. They would be entirely folio’s potential for redevelopment. Group has completed the $110 million adjacent, if not for a co-op building It has about 75,000 s/f of air rights, EPIC Commercial sale of 14 walk-up and the one-story home of Brazilian but only about 10,000 s/f are usable rental buildings in steakhouse Churrascaria Platafor- given that the buildings are in the Rlty. completes two Hell’s Kitchen. ma, which are not included in the Special Clinton Zoning District. sales totaling $3.95m Aaron Jungreis portfolio. “The buildings have a capitaliza- represented both The portfolio spans 136,000 s/f tion rate of about 4%,” said Jungreis. the buyer, Black and contains 273 rental apartments, There are six retail spaces, which Spruce Manage- the majority of them market-rate. The currently house tenants such as the ment and the seller, addresses are 308-310 and 318-340 classic barbershop Little Tony & Igor Aaron Jungreis th The Orbach Group. West 49 St. Black Spruce plans to 308-310 and 318-340 West 49th Be Good and pet store Spoiled Brats. The properties are clustered on continue operating the apartments as The all-cash deal closed on July Streets - Manhattan, NY West 49th St., between Eighth and rentals, sources said, despite the port- 28th for $800+ per s/f. Mordekhai of Forest Park Props. brokers 2 sales: $5.998m Ross and Stryker of Highcap close $3.55 million In the first deal, EPIC sold a BRONX, NY According to Forest Park for $3 million. The buyer is a not- mixed-use building at 1254 Properties, the firm has recent- for-profit who intends to occupy sale of Bedford-Stuyvesant development site Broadway in Bedford- ly completed the the building. BROOKLYN, NY Larry Ross, manag- 1247-1253 Atlantic Ave. in the Bed- Stuyvesant for $1.65 million. following trans- • 365, 367, and 369 E. 28th Sts., ing partner of Highcap Group and ford-Stuyvesant neighborhood. The SEE NEW YORK CITY actions: in Brooklyn: Mordekhai represented Larry Stryker, an associate broker, 50’ x 167’ lot is located within steps to have closed the $3.55 million sale of the A and C subway lines and LIRR. TOP COVER • 3586 Boston both parties in this transaction. The Rd.: Raymond sale price was $2.998 million. The The development site, zoned C4-5D, Mordekhai of property consists of 9 total residen- has been approved for a 32,500 s/f, Atlantic Dev. and To Forest Park Prop- tial units. The buildings were built 40-unit free market rental building Better Days top out erties brokered the in 2008. with retail. Amenities will include a Raymond sale of this 11,000 •to comment on this story gym and roof top lounge. 203 Gramatan Ave. Mordekhai s/f office building visit nyrej.com• Highcap represented both the buyer and seller in this transaction. Busliks of Adams secures 48,010 s/f at 1115 Broadway Larry Ross Larry Stryker •for full story visit nyrej.com• MANHATTAN, NY Adams & Co. Real Inc. The content discovery platform Estate, LLC completed a 48,010 s/f will use the seventh and eighth floors Brick Capital Partners funds $7.5 million acquisition lease at 1115 Broadway for Taboola, of the 12-story Flatiron District build- 9:41loan, AM Edery100% of Paradigm Commercial9:41 AM RE was100% broker ing as its headquarters.The undersigned arranged the above financing. COOPER-HOROWITZ, Inc. New York City James BuslikReal Estate Financing and Jeffrey Buslik MANHATTAN, NY Brick Capital walk-up apartment buildings with Visit us at Cooper-Horowitz.com of Adams & orCo. represented the Partners LLC, through an affiliate 40 apartments. The loan included the 212-986-8400 landlord, Elevenfacebook.com/nyrej Fifteen Associates, entity, funded an acquisition loan funding for capital improvements to twitter.com/nyrej in the transaction.nyrej.com Jared Freede and in the amount of performed within the building as well 203 Gramatan Ave. is a $40 million nyrej.com Ben Friedland of CBRESection represented B New York Real Estate Journal August 16 - September 5, 2016 $7.5 million to a as apartment renovations slated to ground-up quality workforce Quick Read INCLUDES A $2.3M SALE HANDLED BY YONA AND BARUCH EDELKOPF, AND RYBINSKOV private real estate have condo-like finishes. The interest the tenant. Emerald Creek EPIC Commercial Rlty. completes housing development that Capital provides four loans totaling two Brooklyn sales totaling $3.95minvestor. Located only loan is for a 2-year term and was James Buslik Jeffrey Buslik •for full story$13.31 million visit in nyrej.com• includes 159 units. New York City BROOKLYN, NY EPIC Commercial Re- for more commercial and residential alty has completed two sales totaling growth. The neighborhood is well in the Murray Hill closed within one week of application $3.95 million. connected with the (A,C,G,J,M,Z) SEE DESIGN/BUILD section of the bor- in order to meet the borrower’s time TOP COVER O’Brien of M.C. O’Brien represents American ough, the collat- of the essence closing requirement. Yona Edelkopf Yuriy Ustoyev Baruch Edelkopf Mike Rybinskov In the first deal, EPIC sold a train lines all nearby. Many real estate mixed-use building at 1254 Broad- experts expect Bedford-Stuyvesant to eral is comprised Michael Edery of Paradigm Com- way in Bedford-Stuyvesant for $1.65 increase in value dramatically in the million. next few years. Cancer Society, Inc. in two leases totaling Located6,821 on the northeast corner s/fEPIC investment sales associate, Michael Edery of Greene Ave. and Broadway, the Yuriy Ustoyev, represented the seller, of two five story mercial Real Estate was the broker. property is a four-story walk-up and Yona Edelkopf, represented the SEE PAGE 7B mixed-use building comprised of buyer. BROOKLYN, NY According to M.C. William O’Brien,ground SIOR, floor retail and three presidentbox style, EPIC also brokered the sale of 3 Sections 72 Pages Featuring three-bedroom apartments. Built at 404-408 Utica Ave., three mixed-use 6,720 s/f, the building was completely buildings in Crown Heights for $2.3 August renovated with finishes including million. O’Brien, Inc. the firm has com- of M.C. O’Brien, whogranite countertops, represented hardwood floors, The properties consist of three con- Contributing Authors etc. The property is ideally located tiguous two-story walk-up buildings on a busy corner two blocks from with three retail units and five apart- 1254 Broadway, Bedford-Stuyvesant - Brooklyn, NY the Kosciuszko St. (J) train station. ments. The properties were delivered Naeder of Sabre Real Estate arranges 1,444 s/f lease B. Sahn..........................................2A pleted the signing of two leases on the tenant with ownershipAccording to EPIC Commercial J. J.vacant andOp are located- four blocks undergo rapid transformation and Utica Ave.” Realty CEO, Yona Edelkopf, “The from the Crown Heights/Utica Ave. development. Yona Edelkopf stated Yona Edelkopf represented the property has a retail component on a (3,4,5) train station. According to that “this deal will assist with the rapid seller and Baruch Edelkopf and Mike busy corner, which appealed to the EPIC investment sales associate, Ba- transformation of the retail corridor Rybinskov, investment sales associ- Mayor de Blasio..........................4A behalf of a long erating Inc. Sandy Klein, C. Jaye Berger, buyer. Bedford-Stuyvesant has been ruch Edelkopf, “There is tremendous of Crown Heights, specifically along ates of EPIC, represented the buyer.PLAINVIEW, NY Sa- throughout the NY metropolitan area, Shanholt Glassman The Law Offices of up and coming, and the property has value for the buyer as he purchased Klein Kramer & Co. C. Jaye Berger a tremendous amount of upside.” over 60 ft. of frontage on Utica Ave.” In the secondSEE PAGE 14B SEElease, PAGE 15B Bedford-Stuyvesant ACS is locatedcommit Crown Heights is -the home to NY EDC/IDA Special ...........14-17A time client, The in central Brooklyn and nudges up many museums and borders the Crowley Corrinet, Tighe and Tosko of CBRE representbre Real Estate arranged a lease for 1,444 s/f in the against Williamsburg. This historic eastern half of Prospect Park. This neighborhood, known for its pristine neighborhood offers easy train and Coach in 693,938 s/f HQ lease at 10 Hudson Yards brownstones, has recently undergone car access through Easterly Parkway NEW YORK, NY CBRE Group, Inc. has “We are happy to have played a part American Can- ted to 3,321 s/f of newlythe final stages of gentrificationdeveloped and and the (3,4,5) train lines, which has advised Coach in a 693,938 s/f lease in helping this iconic brand monetizeGroup LLC has Plainview Shopping Center at 371 real estate development, allowing allowed Crown Heights to recently of its headquarters at 10 Hudson Yards their interest while creating an im- New York City .......................SEC. B Josh Berkowitz, portant leasehold Ariel Property where Hudson Advisors Yards meets the space in theSEE PAGE Skyview16B Blatter of Whitestone Wellness Realty handles $23 million sale arranged a lease for South Oyster Bay Rd. cer Society, Inc. Highline.” said NYC Financial.........................7-12B NEW YORK, NY Nathan Blatter used as a hotel the past 14 years Tosko, CBRE 28 Pages of Whitestone Realty Group, Inc.