Frank team of Michael Barker, Julian Chung, Suzanne deVries
Decker, Kabaye Liku, Tess Rowley, Philip Fitzpatrick, Matthew
McElroy, Shelby Smith and Adam Streicher served as counsel to
Blackstone. Sullivan & Cromwell served as legal advisor for
Tishman Speyer also landed a major tenant for nearly a third
of the 2.8-million-sf tower. Biopharma company Pfizer signed on
for 800,000 sf of the 65-story building in a relocation of it global
headquarters under a 20-year lease. Cushman & Wakefield’s
Josh Kuriloff led a team that represented Pfizer, which also
tapped C&W’s Adam Spies and Douglas Harmon to sell its former Midtown headquarters to a private investor.
Guild, a com-
who live, work,
or go to school
The lease com-
$1.9 billion in
on the class AA
tower to begin
last summer, with a planned delivery in 2022.
Meanwhile, Pfizer leased back its existing 1.2-million-sf headquarters under a deal that would allow it to stay in place until the
Spiral is ready for move-in. It went down on the record books as the
largest lease in the city last year.
The trophy Time Warner Center at One Columbus Circle is now
known as Deutsche Bank Center, thanks to a massive 25-year lease
the firm signed in 2018. It will occupy 1. 1 million sf at the complex,
owned by Related Cos., when it relocates from 60 Wall St. in 2021.
The deal marked the city’s second-largest lease of 2018.
Elsewhere in the borough, L&L Holding debuted 390 Madison
Ave., fresh off of a sweeping renovation. The work brought the
tower to 32 stories totaling 850,000 sf that are fully leased to such
tenants as Shiseido Americas, law firm Hogan Lovells and JPMorgan
Chase. The latter signed on to occupy 437,000 sf on 16 floors earlier in the year.
On the retail front, McDonald’s leased 7,000 sf at 1530 Broadway,
owned by Bow Tie
Properties. At an annual
rate of $11.5 million, the
fast food conglomerate is
reportedly paying the
highest rent in the city for
retail space. Cushman &
Wakefield’s Andrew Kahn
and Christian Stanton
negotiated for the tenant,
Mendelson, David Green,
Nicole Mendelson and
Tommy Botsaris acted for
expanding its presence
around the metro was
Target, which signed
leases for a number of
small-format stores. The
chain signed on for
50,000 sf store in Brooklyn
another 47,000 sf space
with A&H Acquisitions in Queens, and a 46,000-sf location at a
Kimco Realty property on Staten Island.
In Manhattan, Target inked a deal for 35,601 sf of space at 1865
Broadway, a 172-unit residential tower with 70,000 sf of retail. JLL’s
Patrick Smith, Matt Ogle, Corey Zolcinski and Erin Grace spoke for
the landlord, AvalonBay Communities, while Richard Skilnik or
Ripco Real Estate repped Target.
The outer boroughs saw numbers large financing transactions.
Delta Airlines landed some $1.4 billion in bond financing from the
Empire State Development Corp. and Bank of New York Mellon
for the $4-billion renovation of its LaGuardia Airport Terminals C
In the Bronx, Hunt Real Estate Capital’s Joshua Reiss worked
with Bob Simpson, a Fannie Mae VP of affordable and green
financing, to arrange $120.6 million in funds for the acquisition
and rehabilitation of a 1,088-unit affordable housing portfolio
through Fannie Mae.
390 Madison Ave.
1 Columbus Circle