Gary Flom’s BNF Automotive Group signed a lease to take 265,000 square feet at the Georgetown Company and Bill Ackman’s 787 11th Avenue.
The firm will operate a Jaguar and Land Rover dealership in 150,000 square feet on the 54th Street side of the eight-story building. It will also operate Nissan and Infiniti dealerships in 100,000 square feet of space.
CBRE’s Mary Ann Tighe, Evan Haskell, Arkady Smolyansky and Ross Zimabalist represented Georgetown in the deal. Newmark Grubb Knight Frank’s Brian Goldman represented BNF.
Adam Flatto’s Georgetown Company and a Bill Ackman-controlled investment fund closed on the 464,000-square-foot building in July, paying $250 million to the Ford Motor company. The owners recently hired architect Rafael Vinoly to oversee a renovation and updates of the facility. [NYP] – Ariel Stulberg