Transactions

Cipriani Dubai's Restaurant Co Takes 129 W. 52nd Street

Okada & Company is proud to announce the successful lease up of the retail at 129 West 52nd Street, New York, NY. The 5,000 SF + property was leased to international hospitality company Bulldozer Group, which runs and operates dozens of restaurants and venues around the world including Tanuki Restaurant (60 locations), Cipriani Dubai, Socialista, VIP room and Movida. Tom Caliendo and Daniel DePasquale of Winick Realty Group represented the tenant, and the ownership Christopher Okada, David Ho, and Francis Leung represented themselves. The asking rent was $175/SF. 

The retail property sits at the base of 135 West 52nd Street which is formerly the famed Flatotel. It was converted into a luxury mixed-use condominium project which includes 109 luxury apartments, office park, and a retail condominium. The developers Chetrit Group & Clipper Equities acquired the site in 2013 and began launching sales in 2015. Celebrated architectural firm Cetra Ruddy collaborated with French lighting designer Thierry Dreyfus to create a beautiful, upscale, and state-of-the-art living and working environment.  

Okada & Company president Christopher Okada said "It took a lot of work, and we were negotiating with several groups, however, when I met and sat with some of the Bulldozer executives in Miami, I felt they were the right group and we issued leases shortly thereafter.... there's still a lot of work ahead." 

 

SWIM & RESORT FASHION COMPANY TAKES UNION SQUARE

New York, NY - April 25th, 2017 - Okada & Company is pleased to announce the successful lease of the retail at 3 East 17th Street Street in the Union Square section of Manhattan.

 3 East 17th Street, NYC

3 East 17th Street, NYC

The tenant, Everything But Water is a women's apparel company with over 100 retail outlets throughout the country. For over 30 years they've specialized in the sale of swim and resort fashion all year-round.

Everything But Water took 2,200SF of retail which is currently occupied by women's intimates company Journelle. The 10 Year lease was structured by David Ho & Francis Leung of Okada & Company who represented the landlord. RKF represented the tenant.

Okada & Company is a multifaceted, progressive, and full service commercial real estate advisory and investment firm. With over four decades of New York City experience, Okada & Company has become one

HELL'S KITCHEN CONDO PROJECT SELLS OUT

Okada Acquisition Company is pleased to announce the completion and sell-out of 55-unit residential condominium project 432 West 52nd Street. Sales of the 60,000SF development commenced in October, 2014. The project was also featured on Season 5 of Bravo TV's Million Dollar Listing New York.

Okada Acquisitions head Christopher Okada stated "I loved this deal. When we launched sales we wondered if we would miss the market. Six months from the launch, we owned it without any debt. The team and people involved were amazing, and it was featured on TV. It wasn't all rainbows and unicorns however. My father passed away 1 month after we purchased it (which was devastating) and from Q2' 2015 onward there was a lot more competition in the immediate area. I also clearly remember people doubting we could get the sales numbers we achieved. In the end, I'm really happy with the partnership, the talented people involved, and the process in general."

Okada & Company's Top 5 in Q1 2017

What a fast quarter! I feel time flies even quicker these days. From a new POTUS, to Snapchat going public, what a time to be alive. New York City has especially seen some pretty remarkable events. From the opening of the Second Avenue Subway, to the record breaking number of protestors marching down Fifth Avenue, to Winter Storm Stella, it was all very interesting.

For us at Okada & Company, we too had a pretty remarkable quarter.

Here are the top 5 pretty awesome things that happened to us in the first quarter:

 

5. Supporting friend Paul Massey on his Mayoral Run

Paul Massey Is Running For Mayor!! We had a chance to meet up with a friend of our firm Paul Massey in a private fund raiser at the New York Athletic Club on January 9th. He's a good guy with lots of ideas. Good Luck Paul!

 

4. Hello ClickPay Good Bye Roku | 45 West 34th Street

It's the circle of real estate life. Entertainment and hardware provider Roku has left the building. They were a great tenant at 45 West 34th Street, but as our occupancy is over 95% we couldn't give them the extra space they needed. However, we're super excited to have signed up internet company ClickPay as one of our newest tenants. ClickPay a subsidiary of NovelPay is a service provider to landlords and makes paying rent and HOA fees a cinch. Credit is due to Dana Moskowitz & Richard Price at EVO Real Estate Group for handling the leasing there. Congrats all around.

 

3. 50th Transaction With Falcon Properties

Flacon.jpg

In March of 2017, Okada & Company completed its 50th lease transaction with Falcon Properties. The business relationship started in 2006, a time when Falcon Properties did not work with other real estate firms. After some convincing they opened doors to our book of clients and the rest is history. Congratulations & Thank You to everyone at Falcon Properties!

 

2. Third Time Selling 256 west 15th Street

Selling a property in Chelsea is always great. But selling it three times in a 3.5 year time span? Now that's rare! I wrote about it briefly here however, the key thing to note is that every time it sold, it was profitable.

 

1. OUR NEW WEBSITE!

Okada Web.jpg

Our last website was created in October of 2009. It's truly remarkable how much has changed in New York, in the United States, and in Technology. Our newest update tells a better story of our history, our accomplishments, and our value propositions.

For more information of Okada & Company please visit us at www.okadaco.com


 

Third Time's A Charm: Just Sold

256 West 15th Street

SUCCESSFUL TRANSACTION

Okada & Company is pleased to announce the sale of 256 West 15th Street, New York, NY in the amount of $14.1M. This is the third time Okada & Company has sold the property since 2013. Christopher Okada & David Ho represented the sellers in the transaction Daniel Tamir of DTE represented the purchaser.

Okada & Company is a multi-faceted commercial real estate firm that specializes in commercial leasing and investment sales in the Midtown and Downtown sub-markets of Manhattan. 

Looking for a good deal? Click Here

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DAVEK Umbrellas Lands New Office Diggs

Known to be one of the world's toughest umbrellas, Davek Umbrellas has moved its offices to 115 West 30th Street. Alexander Vellios of Okada & Company represented the fashion accessories company, and Adam Justin of Justin Management represented the landlord.

Okada & Company is a multi-faceted commercial real estate firm that specializes in commercial leasing and investment sales in the Midtown and Downtown sub-markets of Manhattan. 

Looking for a good office deal? Contact Us Here