Global Holdings Management Group has closed on its acquisition of 10 East 29th Street from the Los Angeles County Employees’ Retirement Association for $380 million. The luxury apartment building spans 408,000 SF, and contains 392 market-rate units. (CO)
Ofer Yardeni, Alex Rodriguez, and Adam Modlin have closed on their acquisition of 340 East 51st Street from Allen and Ben London’s Solstice Residential Group for $66.25 million. The multi-family property spans 88,658 SF, and contains 114 apartments (100 are free market). Deal traded at around a 4.1% cap rate. (TRD+NYPost)
Financing
Yoel Goldman’s All Year Management has signed a non-binding memorandum of understanding with “a consortium of leading financial institutions in the U.S.” for a $675 million refinancing of both phases of its Rheingold Brewery redevelopment.
Worth Noting: The first phase of the 911-unit development serves as collateral for All Year’s Series E bonds, and that bond series will be paid off if and when the refinancing closes. (TRD)
Office Leasing
Private equity firm Blue Wolf Capital Partners has signed a 10-year, 20,000-square-foot lease at Silverstein Properties’ 3 World Trade Center. The lease covers half of the building’s 65th floor. (CO)
VC firm Alumni Ventures Group has signed a 10-year lease for 11,006 SF on the 18th floor of APF Properties’ 183 Madison Avenue. Asking rent was in the mid-$70s per SF. (CO)
Industrial
The U.S. Postal Service has signed a five-year lease renewal for the entire 17,628-square-foot warehouse at DHY Property Group’s 42-36 12th Street in Long Island City. (CO)
Retail
P.F. Chang’s To Go has signed a 10-year lease for 2,000 SF on the ground floor of Socius Development Group and The Parkland Group’s 60 Fulton Street. Asking rent on the deal was $175 per SF. (CO)
Tech
Fresh off announcing its new CEO, WeWork has hired Shyam Gidumal as its chief operating officer. Gidumal has spent eight years working in consumer products and retail at Ernst & Young and was previously a partner at Boston Consulting Group. (TRD)
Avi Dorfman, who is suing Compass to be recognized as a co-founder, will get a trial. In an attempt to avoid a courtroom faceoff, the SoftBank-backed firm had appealed an October ruling by a New York judge, who granted Dorfman a trial. But an appellate court judge has just denied the appeal. (TRD)
Other news
Ric Clark, who has headed up Brookfield Property Group and Brookfield Property Partners, is stepping back from his day-to-day role, with Ben Brown taking over. Clark, 61, will remain chairman of Brookfield Property Group, Brookfield Property Partners, and Brookfield Property REIT. (CO)