MELVILLE, N.Y. — CBRE has negotiated the $32 million sale of the leasehold interest in a 202,225-square-foot office building located on Long Island in the city of Melville. The property is currently 87 percent leased. Jeff Dunne, Jeremy Neuer, Steve Bardsley, David Gavin, Gene Pride, Travis Langer and Philip Heilpern of CBRE represented the seller and building owner, RXR Realty, in the transaction. The team also procured The Feil Organization as the buyer.
NEW YORK CITY — Locally based investment firm Tishman Speyer is expanding its coworking brand Studio with the opening of two new locations at Rockefeller Center’s 1230 Avenue of the Americas and 300 Park Avenue in Manhattan. The space at 1230 Avenue of the Americas spans 110,000 square feet across four floors, and the space at 300 Park Avenue spans 32,000 square feet. Studio features include private offices of varying sizes, videoconferencing facilities, onsite childcare and medical services and virtual wellness and fitness programs. Tishman Speyer first introduced the concept at Rockefeller Center in 2018, achieving full occupancy within the first five months of opening.
MOUNT SINAI, N.Y. — Seniors housing developer and operator Engel Burman has opened The Bristal at Mount Sinai, a 120-unit assisted living community in the Long Island hamlet of Mount Sinai. The Bristal at Mount Sinai has 76 assisted living apartments and 44 additional apartments for memory care. Monthly rents begin at $5,200 for assisted living and $8,400 for memory care. This is the 20th Bristal-branded community, with 15 of those located on Long Island.
NEW YORK CITY — Realtor Keller Williams has subleased 20,000 square feet of office space at 99 Park Avenue in Manhattan from Gould Paper Corp. Helmsley Spear owns the Class A building, which is located between 39th and 40th streets in the Midtown area. Kent Swig, Andrew Simon and Brett Zelner negotiated the sublease for Helmsley Spear on an internal basis. Edward Kalisvaart represented Keller Williams, also on an internal basis. The sublease term runs through December 2023.
NEW YORK CITY — Insurance giant American International Group (AIG) will relocate its global headquarters to 1271 Avenue of the Americas, a 48-story office building in Manhattan that was recently redeveloped. The move calls for AIG to consolidate its two regional offices at 28 Liberty St. in Manhattan and 30 Hudson St. in nearby Jersey City. The company plans to take occupancy of its new space, which will span eight floors and 325,000 square feet, in 2021. Rockefeller Group owns 1271 Avenue of the Americas.
NEW YORK CITY — Whole Foods Market has opened a 60,245-square-foot store at 450 W. 33rd St. in Manhattan’s 5.4 million-square-foot Hudson Yards mixed-use development. The store offers a cocktail bar that serves to-go drinks, a beauty and body care section and a convenience market at street level for customers needing a grab-and-go meal, snack or beverage. The store is the 14th in New York City for Austin-based Whole Foods.
NEW YORK CITY — Marcus & Millichap Capital Corp. has arranged a $15 million loan for the refinancing of 521-523 W. 48th Street. The 45-unit multifamily property is located in the Hell’s Kitchen neighborhood and was originally built in 1940. Steven Rock and Christopher Marks of Marcus & Millichap arranged the seven-year loan, which carried a 3.1 percent fixed interest rate and a 75 percent loan-to-value ratio, on behalf of the undisclosed borrower.
NEW YORK CITY — A partnership between Australian multinational developer Lendlease and New York-based L+M Development Partners has secured Daiwa House Texas Inc. as a new equity partner for the development team’s 42-story mixed-use tower in Manhattan’s Morningside Heights area. Daiwa House Texas is a U.S. subsidiary of Daiwa House Industry Co., Japan’s largest homebuilder that is pursuing an initiative to expand across the United States. The project, which will be located at 100 Claremont Ave., will feature 165 residential condominiums, 54,000 square feet of academic space for the Union Theological Seminary and 49,000 square feet of faculty housing. Completion is slated for spring 2023.
NEW YORK CITY — Transwestern has negotiated a 14,889-square-foot office lease at 626 Sheepshead Bay Road in Brooklyn. Stephen Powers, Lindsay Ornstein, Thomas Hines and Jake Cinti of Transwestern represented the tenant, Selfhelp Community Services, in the lease negotiations. David Ofman of The Lawrence Group represented the landlord, Cammeby’s International.
13,556-square-foot residential development site at 3602 Holland Ave. in the Williamsburg neighborhood of Brooklyn. The property is zoned for the development of a 20-unit multifamily building. Menachem Babayov of Westbridge Realty represented the buyer, SHG 3602 LLC, and Steven Westreich represented the seller, Chukwuemeka Dike.