It’s been a busy month for Urban Outfitters. The trendy apparel retailer is said to have inked a deal for 21,000 square feet at 180 Broadway in the Financial District.
Jeff Sutton, who with SL Green Realty Corp. and Harel Insurance owns the building, represented the landlords. Stephen Plourde and Wade McDevitt of the McDevitt Co. represented the tenant, reported the New York Post‘s Lois Weiss. Since its inception 42 years ago in Philadelphia, Urban Outfitters has grown to over 400 American locations.
Fashion retailer Alexander McQueen has signed a 15-year lease for retail space at 747 Madison Avenue totaling approximately 3,400 square feet, it was announced yesterday. The tenant is expected to move into the space during the third quarter, according to a statement from SL Green, part-owner of the retail co-op.
A joint venture, which also includes Jeff Sutton and Harel Insurance Company in addition to SL Green, acquired the retail interest in September 2011. A second-floor residential co-op unit was subsequently acquired for redevelopment and ceiling height expansion.
The Naftali Group has obtained financing to develop a luxury rental building at 316 Bergen Street on Third Avenue in the Boerum Hill neighborhood of Brooklyn, the firm’s founder, Miki Naftali, confirmed to The Mortgage Observer. The developer signed for building and project loan mortgages for a total of $18 million on the three lots, according to public records. The lender is PNC Bank. The total cost of the projects, of about $30 million will be covered with the loan and with equities, Mr. Naftali said.
Last May, Naftali Group teamed up with investment management advisor AEW to buy the 90,000-square-foot development site for $6.72 million. The partners plan to build an 85-unit rental property with 45 residential parking spaces, an open space, a lounge e and a gym. ODA Architecture has designed the project.
An Israeli insurance and finance group and a local developer are partnering with SL Green Realty Corp. to build a tower for student housing at Pace University. Harel Insurance and Finance and the Naftali Group are developing a dormitory with the REIT at 33 Beekman Street.