COMMACK, N.Y. — Lidl has opened a 30,000-square-foot store at Mayfair Shopping Center, a 222,000-square-foot regional power center in Commack, located on Long Island. The German discount grocer will backfill a space previously occupied by Stein Mart, which filed for Chapter 11 bankruptcy in 2020. Mayfair Shopping Center’s tenant roster includes Planet Fitness, Runway Clothing, The Crushed Olive and Bagel Toasterie, among others. Levin Management Corp. represented the landlord in the lease negotiations.
NEW YORK CITY — Private equity firm Corsair Capital has signed a 23,919-square-foot office lease at 550 Madison Avenue in Midtown Manhattan. Since opening in 1984, the 41-story building has housed the operations of two tenants: AT&T and Sony. Silvio Petriello and Chris Corrinet of CBRE represented the tenant in the lease negotiations. Mary Anne Tighe, Howard Fiddle and Scott Gottlieb, also with CBRE, represented the landlord, The Olayan Group, which acquired the asset in 2016 and implemented a value-add program.
NEW YORK CITY — CBRE has negotiated a 15,279-square-foot office lease at 750 Seventh Avenue, a 36-story office building in Midtown Manhattan that was originally built in 1990. Howard Fiddle, Brett Shannon, Arkady Smolyanky, Evan Fiddle and Jacob Rosenthal of CBRE represented the landlord, an entity doing business as 750 Seventh Ave NY LLC, in the lease negotiations. Matthias Li and Cole Chartash of Cushman & Wakefield represented the tenant, Korean financial institution Shinhan Bank, which will occupy the entire 26th floor.
NEW YORK CITY — Locally based developer and private equity firm Delshah Capital has completed 22 Chapel Street, a 180-unit multifamily project in downtown Brooklyn. The transit-served property consists of 125 market-rate apartments and 55 affordable housing units in studio, one- and two-bedroom formats. Amenities include a fitness center, rooftop terrace, a social lounge, library and coworking space, children’s play area and a communal kitchen. The affordable housing component will be restricted to households earning up to 130 percent of the area median income. CetraRuddy Architecture designed the project, while OTL and Titanium Construction provided general contracting and construction management services.
LEVITTOWN, N.Y. — Advance Auto Parts has signed a 7,000-square-foot retail lease at Levittown Mews Shopping Center on Long Island. Robert Delavale of Breslin Realty represented the landlord in the lease negotiations. The representative of the tenant was not disclosed. Other tenants at Levittown Mews include Walmart Neighborhood Market, Ulta Beauty, America’s Best Contacts & Eyeglasses, Lane Bryant and European Wax Center.
NEW YORK CITY — Brookfield Real Estate Financial Partners has provided a $272.5 million construction loan for a project that will convert a 530,000-square-foot office building at 160 Water Street in Manhattan’s Financial District into a 588-unit apartment community. The redevelopment, a tentative completion date for which was not disclosed, will add six levels to the 24-story building. The new apartment building will feature units with stainless steel appliances, quartz countertops and individual washers and dryers, as well as amenities such as a lobby lounge, coffee bar, fitness center and rooftop deck. Gideon Gil, Adam Spies, Kempton Coady and Alex Lapidus of Cushman & Wakefield arranged the loan on behalf of the borrower, Vanbarton Group.
NEW YORK CITY — Newmark has arranged a $260 million loan for the refinancing of 75 Rockefeller Plaza, a 627,000-square-foot office building located within Midtown Manhattan’s Plaza District. Office users at 75 Rockefeller Plaza, which was originally constructed in 1947, include WeWork and Bank of America, and American Girl anchors the ground-floor retail space. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the financing through Bank of America and Carlyle Group. The borrower, RXR Realty, originally acquired the leasehold interest in the asset in 2013 and has subsequently invested $150 million in capital improvements. RXR Realty also operates its New York City headquarters out of the building.
NEW YORK CITY — A partnership between two privately owned firms, William Macklowe Co. and Senlac Ridge Partners, will develop a 180-unit multifamily project in Brooklyn’s Park Slope neighborhood. The complex will include 45 affordable housing units and a parking garage, as well as 67,000 square feet of commercial space that is now partially leased to CVS and German discount grocer Lidl. Construction is slated for a late 2024 completion. RIPCO Real Estate represented the developer in the retail lease negotiations.
YONKERS, N.Y. — Los Angeles-based Parkview Financial has provided an $18.3 million construction loan for a self-storage conversion project in Yonkers, a northern suburb of New York City. The borrower, KCT Inc., plans to demolish a 9,820-square-foot industrial building at 1060 Nepperhan Ave. and to construct a facility that offers 77,000 square feet of net rentable space across 949 units. CubeSmart will operate the facility, completion of which is slated for late 2023. The general contractor for the project is JCT Development, and the architect of record is ELEVEN18 Architecture.
NEW YORK CITY — Locally based investment firm Davean Holdings has purchased a portfolio of three multifamily buildings totaling 19 apartments in Manhattan’s East Village area for $25.5 million. The portfolio includes seven commercial spaces. The buildings were completed between 1900 and 1920 and comprise 15 market-rate units and four rent-stabilized apartments. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented both Davean Holdings and the seller, the Halegua Family, in the off-market deal.