NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $14.8 million sale of an 83-unit multifamily property located at 4755 White Plains Road in The Bronx. Built in 1939, the property includes five retail spaces and 11 parking spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty represented the seller, a private investor, and procured the buyer, an entity doing business as 4755WP LLC.
NEW YORK CITY — Bloomberg has signed a 191,207-square-foot office lease expansion at 919 Third Avenue in Manhattan. The media giant is taking an additional five floors, increasing its total footprint at the 47-story, 1.5 million-square-foot building to 748,415 square feet. Craig Reicher and Howard Fiddle of CBRE represented Bloomberg in the lease negotiations. Robert Alexander, Ryan Alexander, Emily Chabrier and Alex D’Amario of CBRE represented the landlord, SL Green. The building is currently undergoing renovations.
LAKE SUCCESS, N.Y. — Northwell Health, New York State’s largest health provider and private employer, has signed eight lease renewals totaling 32,413 square feet for an additional 10 years in Lake Success, located in Nassau County on Long Island. The practices of Northwell, which include primary care, gastroenterology and pulmonary disease, are spread among multiple floors at 2001 Marcus Avenue, a 214,000-square-foot medical office building. Kevin Driscoll represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Tom Ruggiero and Brian Palumbo provided in-house legal counsel to Feil, while David Leno provided counsel to Northwell Health on an internal basis.
NEW YORK CITY — Walker & Dunlop has arranged a $170 million loan for the refinancing of 122 Fifth Avenue, a 300,000-square-foot office building located near Manhattan’s Union Square neighborhood. The property was originally built in 1900 and includes retail space. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Sean Bastian and Michael Ianno of Walker & Dunlop arranged the loan through PCCP LLC. The borrower, Bromley Cos., which has owned the building for more than 40 years, will use a portion of the proceeds to fund capital improvements.
BOSTON — Cabot Properties Inc. has sold its Value Fund V portfolio in two separate transactions for a total of $2.8 billion. Blackstone Real Estate Income Trust Inc. (BREIT) acquired the portfolio, which features logistics properties in the United States and Europe. The U.S. portfolio includes 102 properties totaling 15.2 million square feet located in major logistics markets such as the Inland Empire, California; Eastern Pennsylvania; South Florida; and the New York metropolitan area. In a separate transaction, Blackstone’s European Core Plus business and its affiliates acquired the remaining European properties, which feature 22 properties totaling 2.2 million square feet of industrial space. The properties are located in European markets such as the Midlands, North West and South East in the United Kingdom; Amsterdam; and Düsseldorf in Germany. “The sale of our Value Fund V portfolio completes our most ambitious logistics property investment program over the past 20 years,” says Franz Colloredo-Mansfeld, chairman and chief executive officer of Cabot. “This portfolio was created through 90 transactions, including 24 development projects throughout the U.S., U.K. and Europe completed over the past five years. We are pleased to have now completed approximately $5 billion in three transactions with Blackstone Real Estate over …
HEMPSTEAD, N.Y. — Rockport Mortgage has arranged $86.6 million in financing for Park Lake Apartments, a 240-unit affordable housing property located in the Long Island community of Hempstead. Park Lake Apartments consists of 14 two-story buildings on an 11-acre site. The borrower is an entity controlled by Metropolitan Realty Group and Silver Street Development Corp. The proceeds of the loan, in connection with equity from the sale of the 4 percent Low-Income Housing Tax Credit, will be used acquire and rehabilitate the property. Rockport Mortgage arranged the loan, which was structured with a fixed interest rate and a 40-year amortization schedule following the two-year construction period, through HUD’s 221(d)(4) program. Renovations are expected to last about 18 months and will include upgrades to cabinets, countertops, appliances and fixtures, flooring and utility systems.
NEW YORK CITY — Ghost kitchen operator Kitchen United has opened a 6,400-square-foot space at 307 W. 38th St. in Midtown Manhattan where it will offer takeout and delivery of brands such as Wingstop, Jersey Mike’s Subs and Chili’s, among others. The location is the third in New York City for Kitchen United, which also recently software and ghost kitchen developer, Zuul. The acquisition saw Zuul’s existing locations in the Soho and Hudson Yards neighborhoods rebranded as a Kitchen United MIX centers last month.
ELMONT, N.Y. — New York Arena Partners, a group comprised of Oak View Group, Sterling Project Development and the New York Islanders, has completed construction of UBS Arena, a 745,000-square-foot venue in the Long Island community of Elmont that will serve as the NHL team’s new home. Designed by Populous and JRDC Urban Architecture specifically for hockey and music events, the 17,250-seat arena features a seating bowl that is pushed further toward the ice than in standard basketball-first arenas. The design team also added certain elements to limit sound reverberation and echoes throughout the venue. UBS Arena also includes 10 bars, a 23,000-square-foot locker room and players’ campus, weight and equipment rooms, training areas, offices and video rooms. Musical artists playing at the venue will have access to private spaces with lounges, dressing rooms and dedicated dining areas.
HORSEHEADS, N.Y. — Micatu Inc., a provider of optical sensing technology, will open a 40,000-square-foot manufacturing facility in the Upstate New York community of Horseheads. The company also recently completed an expansion of its office and training facilities. Upon completion of the project, which is scheduled for the first quarter of next year, Micatu’s total footprint will span 50,000 square feet. The company also expects to hire about 25 new employees.
NEW YORK CITY — Union Square Events, a locally based catering company, has opened a 70,000-square-foot headquarters space at Industry City, a 35-acre mixed-use development in Brooklyn. The new headquarters will include a 33,000-square-foot commissary kitchen, a 120-seat dining room for employees and traditional office space. A partnership between Belvedere Capital, Jamestown and Angelo Gordon owns Industry City.