New York

JPMorgan Chase to Occupy 436,905 SF in Madison Avenue Office Tower

by Amy Works March 2, 2018

NEW YORK CITY — JPMorgan Chase has signed a 10-year lease to occupy 436,905 square feet of space at 390 Madison Ave., a 32-story office building slated to open this summer. L&L Holding Co. is undertaking the redevelopment of the 850,000-square-foot property in conjunction with New York-based Clarion Partners, acting on behalf of the New York State Common Retirement Fund. The lease includes 16 full office floors and two street-level retail spaces. JP Morgan’s office space will include a conference center, multiple outdoor terraces and several double-height amenity areas. The firm will also open a Chase bank branch on the ground floor. David Levinson, David Berkey, Andrew Wiener and Jim Traynor of L&L Holding represented the landlord and tenant in the deal.

March 2, 2018

Loans New York Northeast Office

Rockwood Capital Receives $260M in Financing for Office Building in Manhattan

by Amy Works March 2, 2018

NEW YORK CITY — Rockwood Capital has received a total of $260 million in financing for 2 Grand Central Tower, the company’s office building located at 140 E. 45th St. in Manhattan’s Midtown East section. Approximately $60 million is new capital and $200 million will be used to refinance existing debt at the property. Built in 1981, the 44-story property features 650,000 square feet of office space. Rockwood Capital, BBR Partners, Cortec Group, Banorte Securities and the General Services Administration are tenants at the building. Diana Brummer and Elizabeth Akerman of Stroock represented Rockwood in the financing.

March 2, 2018

Multifamily New York Northeast

TerraCRG Arranges $9.7M Sale of Apartment Building in Brooklyn

by Amy Works March 2, 2018

NEW YORK CITY — TerraCRG has brokered the sale of an apartment building located at 267 Flatbush Ave. in Brooklyn’s Prospect Heights neighborhood. An undisclosed buyer acquired the property for $9.7 million, or $919 per square foot. The four-story building features nine apartment units and one commercial unit. Morgan’s BBQ occupies the commercial space. Ofer Cohen, Dan Marks, Adam Hess and Daniel Lebor of TerraCRG brokered the transaction.

March 2, 2018

New York Northeast Retail

Union Investment Acquires 17,000 SF Retail Property in Manhattan

by Amy Works March 2, 2018

NEW YORK CITY — Union Investment has acquired a retail property located at 412 W. 14th St. in Manhattan’s Meatpacking District. Premier Equities sold the three-story property for an undisclosed price. The 17,000-square-foot property is Toyota’s new experiential retail concept, “Intersect by Lexus.” The location will give customers the opportunity to experience the Lexus brand in a high-end environment featuring a showroom, coffee shop, full-service restaurant and gallery space. The acquisition was made on behalf of Unilmmo: Global, an open-ended retail estate fund.

March 2, 2018

Multifamily New York Northeast Seniors Housing

Spellman Brady Completes Interior Design for 87,700 SF Seniors Housing Community on Long Island

by Amy Works March 2, 2018

PATCHOGUE, N.Y. — Spellman Brady & Co. has completed interior design work for Village Walk, a five-story assisted living community in the Long Island village of Patchogue. Carlisle Senior Living Communities, an affiliate of The D&F Development Group, is developing the 87,700-square-foot community. Spellman Brady & Co. is a St. Louis–based interior design firm specializing in senior living, healthcare and higher education.

March 2, 2018

Multifamily New York Northeast

Anbau Acquires Two Parking Garages in Manhattan for $22.5M

by Amy Works February 28, 2018

NEW YORK CITY — Anbau, a Manhattan-based full-service real estate development firm, has purchased an as-of-right new construction development located at 620 W. 153rd St. in Manhattan’s Hamilton Heights neighborhood. Verizon sold the site for $22.5 million. The site consists of two two-story parking garages with more than 120,000 sellable square feet. Anbau will develop two luxury residential condominium buildings with a shared common landscaped courtyard and on-site parking on the site. Construction is slated to commence this spring. Goldman Sachs is providing pre-construction financing. Bob Knakal, Josh Kuriloff, Jonathan Hageman and Patrick Yannotta of Cushman & Wakefield represented the seller in the transaction.

February 28, 2018

Loans Multifamily New York Northeast

JLL Secures $41.6M in Financing for Multifamily Portfolio in the Bronx

by Amy Works February 27, 2018

NEW YORK CITY — JLL Capital Markets has arranged $41.6 million in financing for the acquisition and renovation of a multifamily portfolio located across five locations in the Bronx. The borrower is Quality Communities, a partnership between Taconic Investment Partners and a client of Clarion Partners. Related Cos. sold the 12-building portfolio, which was 97 percent leased at the time of sale. Jonathan Schwartz, Aaron Appel, Mark Fisher and Brian Buglione of JLL secured the financing, which was provided by Sterling National Bank, for the borrower.

February 27, 2018

Multifamily New York Northeast

Rosewood Realty Facilitates $10M Sale of Apartment Building in Brooklyn

by Amy Works February 27, 2018

NEW YORK CITY — Rosewood Realty Group has brokered the sale of an apartment building located at 2197 Ocean Ave. in Brooklyn’s Madison neighborhood. Shirben Ocean 2197 LLC sold the building to 2197 Ocean LLC for $10 million. Built in 1928, the six-story, 30,000-square-foot building features 35 apartment units. Aaron Jungreis of Rosewood represented the seller, while Michael Guttman, also of Rosewood, represented the buyer in the deal.

February 27, 2018

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Brokers $4.5M Sale of Mixed-Use Building in the Bronx

by Amy Works February 27, 2018

NEW YORK CITY — Cushman & Wakefield has negotiated the sale of a mixed-used building located at 1618 Benson St. in the Westchester Square neighborhood of the Bronx. SKYC Management acquired the property for $4.5 million. The five-story, 20,930-square-foot building features 23 apartment units and three commercial units. Guthrie Garvin and Karl Brumback of Cushman & Wakefield represented the undisclosed seller in the transaction.

February 27, 2018

Multifamily New York Northeast

Marcus & Millichap Arranges $3.8M Sale of Apartment Building in Brooklyn

by Amy Works February 27, 2018

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 433-439 Miller Ave. in Brooklyn. An undisclosed private investor purchased the 25-unit property for $3.8 million. Shaun Riney, Thomas Shihadeh, Daniel Greenblatt, William Grover and Jonathan Cypers of Marcus & Millichap represented the seller, a private investor, and the buyer in the deal.

February 27, 2018

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