Cookin’ in the Kitchen

The Helux on W. 43rd set to sell for $195M

A Hell’s

Kitchen rental tower with interspersed affordable apartments is in contract to sell for about $195 million to

Steve Benjamin of The Dermot Co. under a new investment platform that includes USAA and PGGM, a Dutch pension fund.

Built in 1998 at 520 W. 43rd St. by the Gotham Organization, the 80/20 project with 375 units was purchased in 2013 for $170 million by the sellers, a core fund of Boston-based

AEW. It has been managed by Rose Associates.

The midblock 35-story building between Tenth and Eleventh avenues has sweeping city, Hudson Yards and Hudson River views in an area burgeoning with numerous rental towers.

Known as The Helux, it was marketed by Doug Harmon, Adam Spies, Josh King, Adam Do

neger and Marcella Fasulo of Cushman & Wakefield.

Nearby, the investment brokers recently represented 1199SEIU in the ground lease of 310 W. 43rd St. and 311 W. 42nd St., where Taconic Partners and National Real Estate Advisors will also develop a rental and retail project.

Under earlier affordablehousing rules, The Helux has 20 percent of the units set aside for lower-income families, but its regulatory agreement expires next year.

The city’s new affordablehousing program allows owners to sign a new agreement and up the affordable unit count — say, to a 75/25 — and receive a partial tax abatement.

Sources said Benjamin is investigating that opportunity. He also intends to renovate the lobby, common areas and the extensive amenities.

The parties could not be reached for comment, but the deal is expected to close over the summer.

The purchasing group also owns 21 West End Ave. at Riverside Center.

One of Elton John’s favorite clothiers, Joe Bananas of Sydney, is landing at 935 Madison Ave.

The colorful men’s store, which has its own silk farm in Singapore, has leased 1,598 square feet on the ground and 1,446 on the lower level.

Bob Taylor, Timothy Pond and Jonathan Plotkin of Colliers International brought the tenant to its first US location.

Located between East 74th and 75th streets, Joe Bananas will have the northernmost store adjacent to the Met Breuer, thus completing the retail strip.

Ariel Schuster, Jackie

Totolo and Jordyn Comras of RKF represented the residential and retail project owned by investor Daniel Straus. The asking rent was $900 per square foot.

“It’s the last piece of the puzzle,” said Schuster. “Behind the historic façade, the stores have 18-foot ceilings and column-free space. Straus and Davidd Neveloff did all the right things and were patient and waiting for the right tenant.”

Homenature, a home furnishings and accessories store founded in Southampton, Long Island, has leased the former Giggles store on the Upper East Side.

The store has 85 feet of frontage on the east side of Lexington Avenue and wraps onto East 74th Street. It has 2,585 square feet on the ground and 1,642 square feet on the lower level.

RKF’s Gary Alterman, Comras and Carly Geller represented both sides of the transaction. The building owner, Eugene M. Grant & Co., was represented inhouse by Kenneth Levine and had an asking rent of $250 per square foot.

Grant, a well-known real estate investor, passed away this month at the age of 99.

Homenature was founded by John Heilmann in the 1990s in Amagansett and has locations in Southampton and in the Flatiron District.

In Soho, the Gentle Monster eyewear store is moving its flagship to nearly 10,000 square feet at 70 Wooster between Spring and Broome streets.

With 40 feet of frontage, the space has a 5,072square-foot ground floor as well as 19-foot ceilings and a 4,583-square-foot lower

level. l Cassie Durand and Andrew Turf of CBRE represented the tenant, which has been very successful at its current 79 Grand St. location. The move brings it opposite Céline and the upcoming Gucci store. Christopher Owles and Sarah Shannon of Sinvin represented the ownership, which had an asking rent of $1.2 million per year.