New York

SL Green Tops Out 34-Story Mixed-Use Project at 185 Broadway in Lower Manhattan

by Taylor Williams October 7, 2020

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has topped out its 34-story mixed-use project at 185 Broadway in Lower Manhattan. Located across from Fulton Transit Center, the building will consist of 17,000 square feet of ground-floor retail space, 26,000 square feet of office space and 217,000 square feet of residential space across 209 units. FX Collaborative designed the residential component of the project, which will offer one, two- and three-bedroom floor plans and will include 63 units of affordable housing.

October 7, 2020

Development New York Northeast Retail

ShopRite Opens 70,000 SF Grocery Store at The Boulevard on Staten Island

by Taylor Williams October 7, 2020

NEW YORK CITY — ShopRite has opened a 70,000-square-foot grocery store at The Boulevard, a $200 million retail redevelopment project on Staten Island. Kimco Realty Corp. is leading the redevelopment of the 400,000-square-foot, open-air center, which will add retailers such as Marshalls, Ulta and PetSmart to its roster in 2021. The new ShopRite features specialty prepared foods from Valducci’s pizza, Loon Chuan Asian cuisine, Saladworks, Juice Press and Dunkin’ coffee, as well as onsite access to a registered dietitian and beauty consultant.

October 7, 2020

Acquisitions New York Northeast Retail

JLL Negotiates Sale of 133,849 SF Grocery-Anchored Shopping Center in Cortland, New York

by Taylor Williams October 6, 2020

CORTLAND, N.Y. — JLL has negotiated the sale of Tops Plaza, a 133,849-square-foot, grocery-anchored shopping center in Cortland, located south of Syracuse in the Finger Lakes region. Regional grocer Tops anchors the center, which was 90 percent leased at the time of sale. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Andrew Scandalios, Michael Oliver and Steve Simonelli of JLL represented the seller, an undisclosed CMBS trust. Jonathan Abda represented the buyer, Namdar Realty Group, on an internal basis. The property was built in 1994 and renovated in 1999.

October 6, 2020

Development New York Northeast Office Retail

Reading International Unveils Tammany Hall Redevelopment in Manhattan

by Taylor Williams October 5, 2020

NEW YORK CITY — Reading International (NASDAQ: RDI), an international cinema and real estate firm, has unveiled the redevelopment of the historic Tammany Hall Building at 44 Union Square in Manhattan. The former 19th-century political hub is now a Class A building with 73,095 square feet of space that can be utilized for either office or retail usage. BKSK Architects designed the project, which included a restoration of the façade and the addition of a three-story glass and steel dome with 19-foot ceilings and views overlooking Union Square.

October 5, 2020

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Brokers $12.2M Sale of Mixed-Use Portfolio in Brooklyn

by Taylor Williams October 5, 2020

NEW YORK CITY — Marcus & Millichap has brokered the $12.2 million sale of The Prospect Slope Portfolio, a collection of five buildings in Brooklyn that total 18 market-rate apartments and seven commercial spaces. The buildings were originally constructed in 1915. Andrew Bronsteen, Joe Koicim, Mark Zarrella, Peter Von Der Ahe and Shaun Riney of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.

October 5, 2020

Loans New York Northeast Office

Barclays Provides $483M Loan for Refinancing of Sotheby’s Headquarters Building in Manhattan

by Taylor Williams October 2, 2020

NEW YORK CITY — Barclays has provided a $483 million senior loan for the refinancing of the headquarters building of auction house Sotheby’s, which is located at 1334 York Ave. on Manhattan’s Upper West Side. Sotheby’s has operated out of the 10-story, 506,000-square-foot building since 1980. After redeveloping the property in 2000, Sotheby’s entered into a sale-leaseback agreement with RFR Holdings in 2003, but regained ownership of the property in 2009. Dustin Stolly, Jordan Roeschlaub, Chris Kramer, Nick Scribani and Dominick Calisto of Newmark Knight Frank placed the five-year loan on behalf of Sotheby’s.

October 2, 2020

Acquisitions Multifamily New York Northeast

Marcus & Millichap Negotiates $17M Sale of Residential Building in Manhattan

by Taylor Williams October 1, 2020

NEW YORK CITY — Marcus & Millichap has negotiated the $17 million sale of a 12-unit residential building located at 180 W. 81st St. on Manhattan’s Upper West Side. The property spans 21,568 square feet and includes three commercial spaces. Daniel Handweiler, Haley Hasho, Jacob Kahn, Joe Koicim, Peter Von Der Ahe and Seth Glasser of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both companies were private investors that requested anonymity.

October 1, 2020

Development Multifamily New York Northeast

Falcon Pacific Builders Completes 50-Unit Apartment Building in Queens

by Taylor Williams September 30, 2020

NEW YORK CITY — Locally based construction firm Falcon Pacific Builders has completed a 50-unit apartment building at 28-16 21st St. in the Astoria neighborhood of Queens. Architect Mark Markowitz designed the seven-story building, and The Saab Family LP developed it. The building’s total footprint is 45,498 square feet, with 7,200 square feet reserved for commercial usage. Residences come in one-, two- and three-bedroom formats, with 20 percent of the units designated as affordable.

September 30, 2020

Leasing Activity New York Northeast Office

Adams & Co. Negotiates 26,170 SF Office Lease at 390 Fifth Avenue in Manhattan

by Taylor Williams September 29, 2020

NEW YORK CITY — Full-service real estate firm Adams & Co. has negotiated a 26,170-square-foot office lease at 390 Fifth Avenue in Manhattan. The tenant, home textile supplier Keeco, will relocate from its existing space at 295 Park Avenue during the first quarter of 2021. Jeff Buslik and Jay Dispralto of Adams & Co. represented the landlord, Hilson Management Corp., in the lease negotiations. Evan Margolin and Scott Ansel of Savills represented the tenant. The asking rent is approximately $50 per square foot.

September 29, 2020

Company News New Jersey New York Northeast

New York-Based HVAC Firm Gil-Bar Industries Acquires GBS Limited

by Taylor Williams September 29, 2020

NEW YORK CITY — New York-based HVAC design and engineering firm Gil-Bar Industries has acquired GBS Ltd., an air conditioning contractor based in Berkeley Heights, New Jersey. As part of the deal, Metro Air Products NJ, a Gil-Bar Industries affiliate, will join the GBS Ltd. team and Gil-Bar’s New Jersey operations as a single entity that will be known as Gil-Bar Sales NJ. Former GBS principal Greg Peifer will join Gil-Bar as sales manager of a new Gil-Bar office in Philadelphia.

September 29, 2020

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