Lease Beat

Winton Capital Signs Lease at the Seagram Building

375 Park Avenue.

Winton Capital, a U.K.-based investment management firm, has signed a 4,100-square-foot lease at the RFR Realty-owned Seagram Building at 375 Park Avenue, Commercial Observer has learned. The tenant will take pre-built space on the 36th floor of the Plaza District property.

Headquartered in London, Winton Capital was founded by David Harding in 1997 and boasts approximately $24 billion in assets under management. The Wall Street Journal first reported the fund’s plans to open a New York office earlier this year.  Read More

On the Market

Chinatown Property with Signature Horse Head Hits Market

49 Market Street.

Eastern Consolidated is asking $6.75 million for a two-story Chinatown commercial building and former stable house just one block from the Manhattan Bridge at 49 Market Street, Commercial Observer has learned.

The firm said the 4,400-square-foot building (with approximately 4,000 square feet of unused development rights) is best-suited for “investors seeking in-place tenancy and income,” with the ability to bring it to its full as-of-right potential of roughly 8,400 square feet, or perhaps to use it as a component for a future assemblage with adjacent properties. Read More

Construction Beat

Ivy Leaguers Soon To Dine Al Fresco at Harvard Club

27 West 44th Street

On June 12, the Harvard Club of New York will celebrate the 120th anniversary of the opening of the club’s original building at 27 West 44th Street. That date will also mark the grand opening of the club’s new rooftop bar, outdoor terrace and dining area on the ninth floor of that building.

But, the 150-year-old club is really hoping the rooftop construction will be done sooner and it can open by the middle of May, said Larry Marner of Marner Architecture, the chair of the club’s house committee, which oversaw the renovations. Read More

Lease Beat

Renewable Energy Markets Firm Inks 675 Third Avenue Lease

675 Third Avenue. (Credit: PropertyShark.)

Karbone, a renewable energy and environmental markets firm, has signed a lease for a 4,351-square-foot portion of 30th floor at the Durst Organization’s 675 Third Avenue, Commercial Observer has learned. Asking rent for the pre-built space was $60 per square foot.

The tenant is currently headquartered at 130 West 42nd Street and will relocate next month.  Karbone, which operates an additional office in London, provides brokerage, capital advisory and research services for new energy asset classes, including carbon credits, emission permits and clean fuels. Read More

Lease Beat

Financial Data Firm Consolidates at 90 Park [Updated]

90 Park Avenue

FactSet Research Systems, which provides analytics and content to the financial industry, has consolidated its space and renewed its lease at 90 Park Avenue between 39th and 40th Streets.

The financial data firm will now have 102,000 square feet spanning the entire 7th, 10th and 11th floors of the 1 million-square-foot tower, according to Crain’s, rather than be spread throughout the building. Read More

Development Sites

Upper West Side Condo Development Could Fetch $70M

219-223 West 77th Street. (Credit: Avison Young)

Avison Young will bring an Upper West Side development site at 219-223 West 77th Street to the market in the coming weeks that the firm said could bring offers into the $70 million range.

The 7,700-square-foot lot currently holds a 42,000-square-foot parking garage – with an additional basement space – that will very likely be razed to make way for a new residential development project that could reach 77,000-square-feet. Read More

Sales Beat

West 111th Street Multi-Family Portfolio Sells for $24.25M

The West 111th Street property

Madison Realty Capital has sold a four-building multi-family portfolio on West 111th Street to Acuity Capital Partners for $24.25 million.

The institutionally-backed real estate private equity firm bought distressed loans on the four adjacent buildings, totaling 55,000 square feet, for $11.75 million in May 2011 and ended up acquiring the property title at auction in July 2011. Madison Realty Capital then spruced up the properties. Read More

Lease Beat

DEA Moving to Brookfield Place

250 Vesey Street.

The Drug Enforcement Administration’s New York Organized Crime Drug Enforcement Task Force (OCDETF ) Strike Force reportedly signed a lease for 56,000 square feet at 250 Vesey Street, one of the five office towers that make up Brookfield Place.

The OCDETF Strike Force is taking the entire 19th floor and will move upon the expiration of its current lease at 85 10th Avenue. Read More

Sales Beat

Kaufman Closes on Purchase of Four Ground Leases from Extell

119-125 West 24th Street

Kaufman Organization and Principal Real Estate Investors have closed on their acquisition of four former Ring buildings, totaling 341,441 square feet in the Nomad and Flatiron districts, from Extell Development Company.

As Commercial Observer previously reported, the deal included 13-15 West 27th Street, 45 West 27th Street, 19 West 24th Street and 119-125 West 24th Street. Depending on the valuation, the the 99-year net lease cost between $175 million and $200 million, according to David E. Ash of Prince Realty Advisors, the lone broker in the deal. Read More

Sales Beat

Silvershore Properties Purchases Small Flatiron Building

27 East 20th Street

Silvershore Properties has purchased a 5,200-square-foot mixed-use building for $3.3 million from AY & Associates, which owned the building for over 30 years, Commercial Observer has learned. The deal closed yesterday.

The four-story walk-up building, at 27 East 20th Street between Park Avenue South and Broadway, is home to Rohm Thai restaurant on the ground level and Marie Bové Salon on the second floor. Two floor-through occupied apartments comprise the two top floors. The property includes an additional 4,000 square feet of air rights. Read More