Marx Realty adds to its 4.3 million-SF commercial real estate portfolio with the purchase of two Lower East Side office and retail properties at 135 and 161 Bowery for $48.5 million. Avison Young was the sole broker with James Nelson, principal and head of tri-state investment sales, leading the sale negotiations. The Lower East Side has attracted the art, music, fashion and media industry for decades, and the current tenants in both buildings reflect the neighborhood’s exciting future.
The following is a selection of media placements for Great Ink clients and a summary of each.
Client
GFP Real Estate
Date
September 18, 2018
Gural family notches 2 big leases at 520 Eighth Ave
By Konrad Putzier
summary
Matthew Mandell of GFP Real Estate represented Entertainment Benefits Group in a 12,769 SF, five-year lease at 520 Eight Avenue, owned by GFP since the 1970s. Other new leases at the property include a 40,000 SF, 10-year renewal for Mason Tenders’ District Council Welfare Fund.
Client
Rubenstein Partners
Date
September 17, 2018
$85M deal: Eight buildings in Bucks sell to Rubenstein Partners
By Natalie Kostelni
summary
Rubenstein Partners has acquired eight properties in the Lower Makefield Corporate Center in Bucks County, Pennsylvania for $85 million. The buildings that were bought were: 1010, 1020, 1030, 1040 and 1050 Stony Hill Road and 770, 790 and 800 Township Line Road. They total 467,000 square feet and were 80 percent occupied at the time of the sale, the largest tenant being Crown Holdings, which recently relocated into 60,000 SF at 770 Township Line Road. The purchase by Rubenstein Partners includes buildings split between two campuses, which define the corporate center.
Client
ABS Partners Real Estate
Date
September 17, 2018
Kellogg’s NYC Owners Open Play Center in Same Union Square Building as Their Café
By Lauren Elkies Schram
summary
Union Square Play, a new retail concept, has signed a 7,000 SF lease at 36 East 18th Street in a deal represented by ABS Partners Real Estate’s Jennifer Bernstein and Mark Tergesen. ABS’ Charles Conwell and Tergesen represented the owner of the two-story, 15,000 SF building.Union Square Play offers classes and play space for kids in 2,000 square feet at grade and 5,000 square feet on the lower level. Last November, Kellogg’s NYC cereal cafe occupies 5,000 SF on the second floor; while the cafe has its own entrance on East 17th Street, the 18th Street entrance acts as a shared entrance for both Union Square Play and Kellogg’s.
Client
Jonathan Rose Companies
Date
September 12, 2018
Deals & Dealmakers Jonathan Rose rallies residents to get out and vote
summary
Affordable housing developer Jonathan Rose is working to get out the vote. With the 2018 mid-term election on the horizon, Rose Community Management, an affiliate of Jonathan Rose Companies has partnered with the League of Women Voters Education Fund to empower voters to make use of their electoral power. The new program, co-lead by Andrew Foley and Timothy Smith, is an element of Jonathan Rose Companies’ initiative to create “Communities of Opportunity” at every property they own. Jonathan Rose Cos. plans to expand this 2018 pilot voter registration program to their entire portfolio nationwide totaling more than 15,000 households, as well as other third-party owners and managers, in time for the 2020 elections. It encourages the nation’s other affordable housing owners to join them.
Client
EW Howell Construction Group
Date
September 10, 2018
Executive Profile: Howard Rowland
By David Winzelberg
summary
Howard Rowland of EW Howell Construction Group sat down with Long Island Business News for an executive Q&A about the Long Island construction market, his initiatives as chairman of AGC NYS, the Blue Point Brewery project and more.
Client
Stuart Saft
Date
September 2018
The rise of the anonymous LLC
By Will Parker
summary
Stuart Saft, a real estate attorney and practice leader at Holland & Knight talks with The Real Deal about the increased use of LLCs in real estate transactions, which has its pros and cons.
Client
Simone Development Companies
Date
September 10, 2018
Plumbing supply company expands in Port Chester
By Akiko Matsuda
summary
Torrco Plumbing Supply expanded its presence in Port Chester, moving from 3,000 SF on North Main Street to 19,900 SF at Simone’s warehouse at 21 Grace Church Street. The plumbing supply company has 16 locations in NY, CT and MA. Josh Gopan, director of leasing for Simone Metro Properties, represented the landlord. The 63,000-square-foot warehouse building on Grace Church Street is now 100 percent occupied, with Dipietro Trading and Empire Coffee Roasters leasing the balance of the space at the two-story property.
Client
Halstead Brooklyn
Date
September 6, 2018
Historic Townhouse Sale in Bed-Stuy Smashes Record
By Mengqi Sun
summary
The historic John C. Kelley Mansion at 247 Hancock Street in Bedford-Stuyvesant, Brooklyn has sold for $6.3 million, a record price for the area as the most expensive sale for a single-family home. It almost doubles the previous 2017 record of $3.3M. The seller was represented by Ban Leow of Halstead Real Estate’s Brooklyn office. With 10 bedrooms and 5.5 baths, the 8,000-sf home was built in 1883 for water-meter magnate John Kelley, designed by Montrose Morris. Over the years, the house has been used for photo shoots, movie filming and as a venue for weddings. The home’s seller often refused offers from developers, hoping that the new owner would keep it intact, and care for the home as much as she does.
Client
Marx Realty
Date
September 5, 2018
Crossing Delancey: Two LES Buildings Sell for $48.5 Million
By Betsy Kim