BY AL BARBARINO

Massey Knakal has arranged the $13 million sale of a development site at 16-18 East 30th Street in the NoMad District, where its new owners hope to cash in on the transformation of the neighborhood with the construction of a high-end boutique hotel.

Just a few years ago the NoMad District was more like a no-man’s land, made up of gritty wholesalers, hair salons and counterfeiters, but the soaring success of the Ace and NoMad hotels brought legitimacy to the area, as construction lending opens up and increases interest from developers.

“This sale is just a reflection of how robust and frothy the development market is,” Massey Knakal’s Thomas Gammino, who along with John Ciraulo represented the seller of the site, LHG Group LLC and Palladium Management, told The Commercial Observer. “This is an ideal location for a hotel due to the renaissance of the area.”

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BY BILLY GRAY

Boyce Technologies inked a seven-year, 6,200-square-foot lease renewal at the Trump Organization‘s 40 Wall Street, The Commercial Observer has learned.

Brad Gerla and Jeff Sharon of CBRE represented the tenant, a contracting firm with clients including the Metropolitan Transportation Authority. Jeffrey Lichtenberg, Jared Horowitz and Andrew Peretz of Cushman & Wakefield represented Trump. Asking rent was $35 per square foot.

Boyce had been in the 71-story Financial District tower on a short-term sublease. “They’ve very happy with the Trump Building,” Mr. Gerla said. “We did take them out elsewhere and at the end of the they signed a direct lease with the landlord.”

In March, the private grade school Green Ivy signed a 25-year, 80,000-square-foot lease at the property. And last month, the financial services firm First Investors Management Company inked a deal for 36,490 square feet in the building. The corporate offices of Duane Reade take up 54,500 square feet on the 21st and 22nd floors there.

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BY GUS DELAPORTE

Muss Development has signed AC Physical Therapy to a 10-year, 1,486-square-foot lease at 4434 Amboy Road on Staten Island, The Commercial Observer has learned. Asking rent was approximately $25 per square foot.

“It is a very local, convenient place to work for a lot of people on Staten Island,” said Jason Muss, principal at Muss Development.

The property, which the tenant began occupying on May 1, includes both office and retail space and is located in Muss’s Eltingville Shopping Center. The location boasts nearby express bus service.

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