NEW YORK CITY — Fordham University has acquired a 31,786 -square-foot development site located at 619 E. Fordham Road in The Bronx. The site is situated one block from the university and currently houses 5,000-square-foot warehouse. Jonathan Squires, Addison Berniker, Michael Fioravanti, Josh Neustadter, and Shayne Soltan of Cushman & Wakefield represented the seller, Six 19 Custom LLC, in the transaction. The sales price was undisclosed.
BUFFALO, N.Y. — New York-based investment firm Reich Brothers has acquired a 205,000-square-foot industrial building located directly off Interstate 190 in Buffalo for approximately $10.3 million. Reich Brothers will lease the space back to the seller, Robinson Home Products, a locally based provider of housewares. The property, which also offers proximity to Buffalo Niagra International Airport, features 50-foot clear heights, 12 dock-high doors, 100 parking spaces and an ESFR sprinkler system.
LONG ISLAND, N.Y. — Cushman & Wakefield has brokered the $8 million sale of 212-230 Middle Neck Road, a 53,097-square-foot residential development site in the Great Neck neighborhood of Long Island. The buyer, McKinley Homes, plans to develop a 40-unit multifamily building on the site with one-, two- and three-bedroom units, storage, community laundry room, gym, rooftop lounge and a deck area. Daniel Abbondandolo, Robert Kuppersmith and Dimitri Mastrogiannis of Cushman & Wakefield represented the seller, GN Properties LLC, in this transaction. Kelly Koukou and Bradley Diamond of Lee & Associates represented McKinley Homes.
PEEKSKILL, N.Y. — Regional grocer Apple Farm has signed a 25,000-square-foot retail lease at Peekskill Plaza, a 68,000-square-foot retail center in Peekskill, New York. Peekskill Plaza is now 100 percent leased to a tenant roster including CVS, McDonald’s and Trustco Bank. Joshua Jacobs of Goldschmidt & Associates represented Apple Farm in the lease negotiations. Eric Goldschmidt of Goldschmidt & Associates represented the landlord, undisclosed landlord in the lease negotiations.
NEW YORK CITY — Monticello Asset Management LLC has provided a $40 million loan for the refinancing of an assisted living facility in The Bronx. The borrower and name of the facility, which features 256 beds, were not disclosed. The borrower recently completed an extensive renovation of the facility, including updates to the resident rooms, lobby, common areas and landscaping. Monticello provided the long-term financing for the borrower after it received full licensure in New York and has since stabilized the operations and performance of the facility.
NEW YORK CITY — Facebook has signed a 1.5 million-square-foot office lease at Hudson Yards in Manhattan. The social media giant will occupy space across 30 floors and three buildings at the mixed-use development, including approximately 1.2 million square feet in 50 Hudson Yards, 265,000 square feet in 30 Hudson Yards and 57,000 square feet in 55 Hudson Yards. Related Cos. and Oxford Properties Group developed 30 Hudson Yards. Related Cos., Mitsui Fudosan America and Oxford Properties Group developed 50 and 55 Hudson Yards. Cushman & Wakefield represented Facebook in the lease negotiations. Related Cos. was self-represented.
NEW YORK CITY — Greystone has arranged a $50 million bridge loan for the refinancing of House No. 94, a recently constructed 75-unit multifamily building in the Williamsburg neighborhood of Brooklyn. An affiliate of Ares Management LLC provided the five-year, variable-rate loan to the borrower, an affiliate of Hudson Cos. Inc. Completed in 2018, the property offers mixed-income housing, ground-floor retail space and amenities including a 12,000-square-foot courtyard, tenant lounge and fitness center.
MELVILLE, N.Y. — Cushman & Wakefield has acquired the brokerage division of NAI Long Island, adding 16 new commercial leasing and investment sales professionals to its regional workforce. Founded in 1980 by Carmine Inserra, NAI Long Island is based in Melville, located centrally on Long Island, and represents both investors and tenants in leasing and sales of office, industrial, retail and mixed-use properties. Former NAI Long Island employees will continue to work temporarily in NAI Long Island’s current office until all team members relocate to a new Cushman & Wakefield office in Melville in 2020. Financial details of the acquisition were not disclosed.
NEW YORK CITY — Newmark Knight Frank (NKF) has arranged a $44 million acquisition loan for 4650 Broadway, a 47,350-square-foot development site located in the Inwood neighborhood of Manhattan. SCALE Lending, the lending arm of Slate Property Group, provided the floating-rate loan to Arden Group Inc. The borrower plans to use the loan to acquire the site and develop a 300,000-square-foot multifamily building with retail space. Dustin Stolly and Jordan Roeschlaub led the NKF team that secured the loan.
NEW YORK CITY — Tech company Monacle Vision Inc. has signed a 10-year, 2,000-square-foot office lease at 268 Metropolitan Ave. in the Williamsburg neighborhood of Brooklyn. The company will use the new space as a coworking office aimed at tech companies and ventures. Monocle Vision Inc. creates image capturing solutions for commercial retail use and will continue to provide this service from its Manhattan office. Moshe Akiva led the Tri State Commercial Realty team that represented Monocle Vision Inc. in the lease negotiations. Tri State Commercial represented the landlord, All Year Management.
