NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $13 million sale of two rent-stabilized apartment buildings totaling 98 units in the Inwood area of Manhattan. The buildings were constructed in 1920 and comprise two studios, 32 one-bedrooms units, 44 two-bedroom residences and 20 three-bedroom units. Aaron Jungreis and Ben Khakshoor of Rosewood Realty represented the seller, Morris Lieberman, and the buyer, Prana Investments, in the transaction.
NEW YORK CITY — Food52, an e-commerce firm that supplies cookware, has signed a 42,000-square-foot office lease at Dock 72, a 675,000-square-foot office building located within the Brooklyn Navy Yard. The company will relocate from Manhattan’s Chelsea neighborhood to occupy the entire 13th floor of Dock 72 beginning in the second half of next year. Locally based owner-operator Rudin Development co-developed the property, which is surrounded by water on three sides, in partnership with Boston Properties (NYSE: BXP) and WeWork. Dock 72 offers amenities such as a rooftop conference center, ground-floor food hall, fitness and wellness center and an open lawn with a basketball court. Helen Paul and Rico Murtha of Cushman & Wakefield represented the tenant in the lease negotiations. Robert Steinman of Rudin, Andrew Levin of BXP, Joe Cirone, Ron Lo Russo and Patrick Dugan of Cushman & Wakefield and Sacha Zarba and Freddie Fackelmayer of CBRE represented ownership.
NEW YORK CITY — Locally based general contractor Archstone Builders is underway on renovations of the McGraw-Hill Building, a historic property at 330 W. 42nd St. in Manhattan. Since its original construction in 1931, the 35-story, 700,000-square-foot building has served as the headquarters of both the namesake publishing giant and Marvel Comics. Capital improvements include a restoration of the original design of the façade, a window replacement program and an upgrade of the entryways and storefront. MdeAs is the project architect, and New York-based Resolution Real Estate Partners owns the building.
NEW YORK CITY — Locally based investment firm A&E Real Estate has acquired a 19-story apartment building located at 400 E. 57th St. in Manhattan’s Sutton Place neighborhood. The property features a mix of 263 rent-stabilized and market-rate units. SL Green sold the property to A&E Real Estate for an undisclosed price. The two firms also traded a multifamily property at 400 E. 58th St. earlier this year.
NEW YORK CITY — A partnership between Simi Capital Group, an investment firm with offices in New York City and Miami, global asset management firm Cerberus Capital Management and Atlanta-based Stonemont Financial has purchased a self-storage facility in Staten Island. The sales price was $19 million. The partnership plans to demolish the building at 2577 Forest Ave. and convert the site into an outdoor storage facility that will feature industrial parking space. Construction is expected to begin early next year.
NEW YORK CITY — NorthMarq has arranged a $17.5 million CMBS loan for the refinancing of Eltingville Shopping Center, a 98,523-square-foot retail property in Staten Island. Tenants include Rite Aid, Advance Auto Parts and Santander Bank. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the 10-year, interest-only loan through an undisclosed direct lender. The borrower was also not disclosed.
NEW YORK CITY — ARRI Rental, a camera, lens and grip equipment rental service company, has signed a 42,000-square-foot industrial lease for its new headquarters space in the Long Island City area of Queens. The three-story property at 47-27 36th St. was built in 2004. Joseph Grotto, Joseph Meyerson and Michael Deutsch of Cushman & Wakefield represented the landlord, JDA Realty Corp., in the lease negotiations. Justin Butts of DY Realty represented the tenant, which expects to open its new facility in the first quarter of next year.
NEW YORK CITY — Extell Development Co. has unveiled plans to develop a 30-story medical office tower on Manhattan’s Upper East Side. The 400,000-square-foot, Class A property will be located at 403 E. 79th St. The site is near several of New York City’s top hospitals and medical research centers, including NewYork-Presbyterian and the main campus of Hospital for Special Surgery (HSS), an academic medical center focused on musculoskeletal health with locations throughout the tri-state area. HSS has signed a long-term lease for approximately 200,000 square feet spread across the first eight floors at the new tower. Mitti Liebersohn and Arthur Mirante of Avison Young represented HSS in the lease negotiations in collaboration with the HSS in-house team of Michael Calabrese, Stephen Bell and Stacey Malakoff. Vincent Carrega represented Extell Development. HSS will house orthopedic and rheumatology physician offices within its office space, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine Center that is set to open in 2024 at the HSS Kellen Tower. “We are pleased to partner with HSS, the foremost hospital for orthopedics and rheumatology, to …
HARRISON, N.Y. — A partnership between Dallas-based Trammell Crow Residential, a subsidiary of Crow Holdings, and Boston-based Marcus Partners is underway on construction of Alexan Harrison, a 450-unit apartment community that will be located about 25 miles north of Manhattan. Alexan Harrison will offer studio, one-, two- and three-bedroom units ranging in size from 507 to 2,135 square feet. A portion of the residences, which will feature stainless steel appliances, granite countertops and individual washers and dryers, will be reserved as affordable housing. Amenities will include two pools and clubhouses, a fitness center, dog park, walking trails, a business center with private offices, wellness center and Amazon package lockers. Construction is scheduled to be complete in April 2024.
NEW YORK CITY — Locally based developer Zara Realty has broken ground on a 223-unit mixed-income project located at 153-10 88th Ave. adjacent to Rufus King Park in Queens. Thirty percent (66) of the units, which will feature studio, one- and two-bedroom floor plans, will be designated as affordable housing. Amenities will include a fitness center, a tenant recreational space, rooftop terrace with gardens and seating areas, electric vehicle charging stations and storage units. Ismael Leyva Architects is designing the nine-story building, and Monadnock Construction Inc. is the general contractor. Completion is slated for 2023.