NEW YORK CITY — CBRE has negotiated a 16,624-square-foot office lease at 444 Madison Avenue in Midtown Manhattan. The tenant will occupy the entire 14th floor of the 42-story building, which was recently renovated. Paul Amrich, Meghan Allen, James Ackerson and Max Tarter of CBRE represented the landlord, Westbrook Partners, in the lease negotiations. Amrich also represented the tenant, EOS Investors LLC.
NEW YORK CITY — Reidy Contracting Group has signed a 7,723-square-foot office lease at The Banks Building, located at 58 W. 40th St. in Manhattan. Michael Nazarian and Matt Kashani of Norman Bobrow & Co. represented the tenant, which is expanding and relocating from a 4,000-square-foot space at 120 West 31st Street, in the lease negotiations. Laura Belt Ponomarev represented the landlord, an entity doing business as 58-64 40th St. Corp., on an internal basis.
NEW YORK CITY — H.I.G. Realty Partners, an affiliate of global investment banking firm H.I.G. Capital, has provided a $240 million permanent loan for the refinancing of The Paxton, a 43-story mixed-use development in downtown Brooklyn that is nearing completion. Developed by locally based firm Jenel Real Estate, The Paxton will ultimately feature 327 for-rent residential units, 109,000 square feet of office space and up to 36,000 square feet of retail space. The project is located in the borough’s downtown area, just across both the Brooklyn Bridge and Manhattan Bridge from downtown Manhattan. Marvel Architecture designed the building, full completion of which is slated for the fall. CBRE and RIPCO Real Estate have been tapped to lease The Paxton’s office and retail components, respectively. The tower’s location on Fulton Street is part of a growing area that includes 35,494 residents, 16,501 residential units, 3 million square feet of office space and 1.9 million square feet of retail space. In addition, the area houses 11 higher education institutions with upwards of 60,000 students, as well as over 100 arts and cultural institutions. “We are excited to be a part of such a well-built, well-located property in the growing downtown Brooklyn market,” …
NEW YORK CITY — CBRE has negotiated a 20,293-square-foot office lease at 444 Madison Avenue in Midtown Manhattan. The tenant will occupy the entire 10th floor of the 42-story building, which was recently renovated. Paul Amrich, Meghan Allen, James Ackerson and Max Tarter of CBRE represented the landlord, Westbrook Partners, in the lease negotiations. The representative of the tenant, The Doris Duke Management Foundation, was not disclosed.
NEW YORK CITY — Bold Charter School will open a 10,000-square-foot learning center at 1093 Southern Blvd. in The Bronx. The school, which will open in time for the 2022-2023 academic year, will have eight classrooms and will be able to support about 240 students in grades K-4. Stephen Powers and Lindsay Ornstein of OPEN Impact Real Estate, along with Tom Hines and Casey Noel of Transwestern, represented Bold Charter School in its site selection and lease negotiations. David Israeli and Joseph Israeli represented the landlord, Meyerson Management LLC, on an internal basis.
NEW YORK CITY — Marcus & Millichap has negotiated the $15.5 million sale of a 70-unit, rent-regulated multifamily building in Queens. The building spans 70,000 square feet, including 5,000 square feet of retail space. Matt Fotis and Lazarus Apostolidis of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
CORTLANDT, N.Y. — Invesco Real Estate Income Trust Inc. has acquired Cortlandt Crossing, a 122,225-square-foot shopping center located in New York’s Westchester County. Anchored by grocer ShopRite and HomeSense, which is part of the TJX Cos.’ family of brands, the newly constructed center was 95 percent leased at the time of sale. Invesco acquired the property in conjunction with the purchase of a 95 percent stake in an industrial property near Columbus, Ohio, for a combined price of $94 million. Jeffrey Dunne, David Gavin, Steve Bardsley, Jeremy Neuer and Travis Langer of CBRE represented the owner, Acadia Realty Trust, in the transaction.
NEW YORK CITY — Newmark has negotiated a 26,000-square-foot office lease at The Devlin Building, located at 459 Broadway in Manhattan’s SoHo District. Howard Kesseler and Alexander Kesseler of Newmark represented the landlord, The Chetrit Organization, in the lease negotiations. Sinvin Commercial Real Estate represented the tenant, F. Schumacher & Co., a designer of luxury textile products.
NEW YORK CITY — Commercial design firm Spectorgroup has signed a 15,000-square-foot office lease at 200 Madison Avenue in Midtown Manhattan. The tenant will relocate from its current headquarters at 183 Madison Avenue to the 19th floor of the 750,000-square-foot building in the third quarter. Andrew Conrad and Matt Coudert internally represented the landlord, George Comfort & Sons, which owns the building in partnership with Jamestown and Loeb Realty Partners, in the lease negotiations. Ben Shapiro and Andrew Sachs of Newmark, along with Adam Spector of JLL, represented Spectorgroup.
WHITE PLAINS, N.Y. — Locally based investment firm Argent Ventures has acquired White Plains Plaza, a 715,365-square-foot office complex located north of New York City, for $105 million. The two-building complex was 76 percent leased to a roster of 74 tenants at the time of sale. Kevin Welsh, Brian Schulz, Jason Emrani, Evan Layne, Brett Siegel, Alex Foshay and Glenn Walsh of Newmark represented the seller, a partnership between Ivy Realty and DW Capital, in the transaction. Anthony Orso and Ari Schwartzbard of Newmark arranged acquisition financing on behalf of Argent Ventures.
