MOUNT PLEASANT, N.Y. — Benchmark Senior Living will open Benchmark at Mount Pleasant, a community that will be located 25 miles north of Manhattan in Mount Pleasant. The community, slated for completion in spring 2024, will feature 74 assisted living units and 26 memory care units. Benchmark is partnering with Shelbourne Healthcare Development Group LLC, a development and investment firm based in Wayne, Penn., on the project. Benchmark will serve as the sole operator.
BAY SHORE, N.Y. — Cushman & Wakefield has negotiated a 115,184-square-foot industrial lease at 158 Candlewood Road in the Long Island community of Bay Shore. Sean Duffy and Nicholas Gallipoli of Cushman & Wakefield represented the tenant, paper and packaging products supplier Lindenmeyr Munroe, which is expanding its Long Island presence, in the lease negotiations. Leslie Lanne, Doug Omstrom and Max Omstrom of JLL represented the landlord, Rockefeller Group.
NEW YORK CITY — A partnership that includes Sunrise Senior Living and Welltower is underway on construction of The Apsley, a 156-unit assisted living and memory care facility that will be located at 2330 Broadway on Manhattan’s Upper West Side. Designed by SLCE Architects, The Apsley will offer studio, one- and two-bedroom units. Amenities will include a spa, care center, landscaped outdoor terraces, a dining bistro, art studio, theater and a library curated by a local bookseller. Construction on the 19-story building is underway, and the opening is slated for next spring.
NEW YORK CITY — Los Angeles-based Thorofare Capital has provided a $34.5 million construction loan for the redevelopment of a 62,428-square-foot office building located at 132 W. 14th St. in Manhattan’s Greenwich Village area. The borrower, KPG Funds, plans to update the building’s structure, façades, lobby, windows and mechanical systems and reposition the property as a boutique office building. Marvel Architects is designing the redevelopment. Aaron Niedermayer led a JLL team that arranged the loan on behalf of KPG Funds.
NEW YORK CITY — Boston-based investment and development firm The Davis Cos. has begun the renovation of a 156,792-square-foot industrial facility known as at The Pearl Building that is located in the Maspeth area of Queens. Capital improvements will include new dock doors, levelers, seals/bumpers, paving/coatings and building protection systems. In addition, Davis will restore the façade, upgrade the elevator and lobby and add new restrooms and security features. Cushman & Wakefield will lease the building upon completion of the program, which is scheduled for the first quarter of 2023.
NEW YORK CITY — GAIA Real Estate has acquired a 28-unit multifamily building at 106 Norfolk St. on Manhattan’s Lower East Side for $14 million. The majority of the units at the fully occupied property, which features one- and two-bedroom floor plans, are rented at market rates. The building also houses two retail spaces that are occupied by food and beverage concepts. Bob Knackal of JLL represented the undisclosed seller in the transaction.
NEW YORK CITY — Capital One has signed a 60,000-square-foot office lease expansion to occupy an additional three floors at 114 Fifth Avenue, a 19-story building in Manhattan’s Flatiron District. The 352,000-square-foot building was originally constructed in 1910 and redeveloped in 2014. The lender now occupies 116,296 square feet across six floors. A joint venture between Columbia Property Trust, Allianz Real Estate and L&L Holding Co. owns the property. David Berkey of L&L Holding internally represented the landlord in the lease negotiations. Dale Schlather and Greg Herman of Cushman & Wakefield represented Capital One.
NEW ROCHELLE, N.Y. — A partnership between two locally based firms, Simone Development Cos. and Stagg Group, has broken ground on West View Apartments, a 186-unit affordable housing project that will be located north of Manhattan in New Rochelle. The project represents the second phase of a larger mixed-use development, the first phase of which added 35,000 square feet of civic and office space to the local supply last summer. The studio, one- and two-bedroom units that will be housed within the 24-story residential building will be reserved for households earning 60 percent or less of the area median income. Completion of West View is slated for summer 2025.
BAY SHORE, N.Y. — Duro Dyne Corp., a manufacturer and distributor of sheet metal accessories and equipment for HVAC systems, has signed an 82,064-square-foot industrial lease at 158 Candlewood Road in the Long Island community of Bay Shore. The tenant is expanding from its adjacent location at 81 Spence St. Leslie Lanne, Doug Omstrom and Max Omstrom of JLL represented the landlord, Rockefeller Group, in the lease negotiations. Paul Leone and Phil Heilpern of CBRE represented Duro Dyne.
NEW ROCHELLE, N.Y. — A partnership between two locally based firms, Simone Development Cos. and Stagg Group, has broken ground on West View Apartments, a 186-unit affordable housing project that will be located north of Manhattan in New Rochelle. The project represents the second phase of a larger mixed-use development, the first phase of which added 35,000 square feet of civic and office space to the local supply last summer. The studio, one- and two-bedroom units that will be housed within the 24-story residential building will be reserved for households earning 60 percent or less of the area median income. Completion of West View is slated for summer 2025.
