24 Hour Local Real Estate News

Middle Market Digest: The Northeast

Here is a roundup of recent deals, leases, executive moves, and other news from the past week.

Deal Tracker

HICKSVILLE, NY—United Properties Corp., represented by Silber Investment Properties, has acquired the Mt. Sinai Shopping Center, 5501 Nesconset Hwy, Mount Sinai, NY for $29.75 million from Mt Sinai Shopping Center Inc. Anchored by King Kullen, the property consists of 101,000 square feet of retail and 23,000 square feet of professional office space on more than 14 acres.

NEW YORK, NY—Mike & Dave’s Yogurt Shop has leased its first New York location, approximately 1,000 square feet of space at 120 MacDoughal Street, across from the Minetta Tavern between Bleeker and West 3rd streets. Colliers International’s Michael Thomas, Managing Director, and Tim Pond, Associate, represented Mike & Dave’s in its acquisition.

PHILADELPHIA, PA—Gebroe-Hammer Associates senior vice president Eli Rosen (pictured) recently brokered a multi-family portfolio encompassing a total of 83 units and 20 properties sold for $14 million in the city’s University City submarket. Rosen, the firm’s Philadelphia market specialist, exclusively represented the seller, West Village UCA, and procured the buyer, a private investor, in the transaction. The properties are all located in Powelton Village, in the heart of the neighborhood’s world‐renowned education, medicine and technology hub. Situated on the 3200 block of Powelton Avenue, 11 of the properties (3201-3027) are on the odd side of the street while two are even-numbered (3214 and 3220). The 3214-3218 Pearl St., properties feature three two-unit townhomes with patios and garages as well as an additional loft in two of the units. Across the street at 311-313 N. 33rd St., is a 24-unit building with an adjacent parking lot. In total, the portfolio is comprised of a mix of studio and one-, two-, three- and four-bedroom layouts for a total of 144 beds.

NEW YORK, NY—Faith Hope Consolo and Arthur Maglio of Douglas Elliman arranged a short-term lease for TDE (The Daily Edited) at 385 Bleecker Street on the corner of Perry. A Sydney, Australia-based lifestyle accessories brand, it’s TDE’s first freestanding US location. Separately, Consolo and colleague Corey Shuster at Douglas Elliman also arranged a lease for Frame Market on Fifth at 345 Fifth Avenue, directly across from the Empire State Building’s main entrance.  Frame, an epicurean food hall, offers locally sourced high quality ingredients, and has locations in Chelsea, Midtown South, Midtown East, the Plaza District and the Fashion District.

NEW YORK, NY—Cushman & Wakefield has been selected to market exclusively two adjacent industrial buildings at 47-47 and 47-55 58th Street in the Woodside neighborhood of Queens, New York. The properties – which can be purchased together or individually – have a combined asking price of $16 million. A Cushman & Wakefield team of vice chairman Thomas A. Donovan, director Tommy Lin, director Eugene Kim and associate director Robert Rappa is leading the efforts.

MANASQUAN, NJ—Cherry Blow Dry Bar – a specialty salon providing premium hair blowouts, makeup services and hair applications/treatments at an affordable price – has leased 1,400 square feet at Wall Towne Center in Manasquan. Levin Management Corporation is the property’s exclusive leasing and managing agent. The lease brings the 91,000-square-foot shopping center to 100 percent occupancy and coincides with the expansion of the property’s ShopRite supermarket. Andrea Kyriacou, Levin’s senior leasing representative, arranged the long-term Cherry Blow Dry Bar lease. David Dunkelman of Soloff Realty represented the tenant.

Notables

WAYNE, PA—CBRE named Tara Hayden Buchakjian first vice president in its Wayne, Pennsylvania office. Tara will specialize in representing both landlords and tenants in the greater Philadelphia region, as well as multi-market occupier clients. Before joining CBRE, Buchakjian was vice president at Hayden Real Estate Investments, where she represented corporate occupiers and owners in the development and implementation of their real estate strategies, including acquisitions, dispositions and leasing of all properties under ownership by Hayden and their affiliates. During her tenure at Hayden, Tara completed over 350 lease transactions totaling more than 4.5 million square feet, representing both tenants and landlords.

EAST RUTHERFORD, NJ and BOSTON, MA— Jones Lang LaSalle has hired Timothy Greiner (pictured) and Frank Recine as executive managing directors, Blake Goodman as executive vice president and Brendan McBride as senior vice president in the firm’s Parsippany, NJ, office, where they will work closely with Daniel Loughlin, international director and head of New Jersey office brokerage. Separately, the firm hired Paul T. Newman as a Group Manager overseeing the MIT Investment Management Company (MITIMCo) portfolio, which encompasses approximately two million square feet and 100 assets including office, lab, industrial, residential, and retail.

 

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