NEW YORK CITY — TOWN Residential has arranged the sale of a six-story residential building located at 445 W. 36th St. in Manhattan’s Hudson Yards district. 445 Dev Corp. sold the property to an undisclosed buyer for $7.9 million. The 8,214-square-foot property features 24 studio apartments; 22 of which of free market, with rents ranging from $1,700 to $2,250 per month. Tom Brady and Tricia Mader of TOWN Residential represented the seller in the deal.
NEW YORK CITY — Developed by Nissim Seliktar and designed by Gene Kaufman Architect, Aloft Long Island City-Manhattan View is slated to open in November. Located at 27-45 Jackson Ave. in Long Island City, the 18-story, 74,000-square-foot hotel will feature 176 rooms. The hotel also features W XYZ bar; Re:mix lounge; Re:fuel, a healthy snack bar; Re:charge gym; 1,500 square feet of meeting space; a pool; and a 1,700-square-foot ground-floor terrace.
HOLTSVILLE, N.Y. — Stalco Construction, as construction manager, has completed the expansion and renovation of H.O. Penn’s parts and service departments and retail area at the company’s 42,000-square-foot building, located at 660 Union Ave. in Holtsville. The scope of the 5,000-square-foot project included relocating the entrance of the retail and parts departments, updating the reception lobby, the demolition of preexisting offices and retail area and the installation of a new storefront-type entrance, retail section, customer support counter and a new office for the department manager. Additionally, the renovated sales floor features seven desks for sales staff and a private manager’s office. The project team included Rosebery Architectural Studio, The Maude Group, 2 Gang Electric and KK Signs.
NEW YORK CITY — Himmel + Meringoff Properties and The Swig Company have received a $200 million mortgage loan for the refinancing of 8 Times Square, a 220,000-square-foot office and retail property located at 1460 Broadway in New York City. The loan was provided by Citigroup. The 16-story property offers 185,000 square feet of office space and 35,000 square feet of retail space. Current tenants of the property include WeWork and Foot Locker. Robert Sorin, Julianne Befeler, Chad Sandler and Jason Robinson of Fried Frank acted as counsel to the companies in the transaction.
NEW YORK CITY — Equicap has arranged $18 million in construction financing for a condominium development on Manhattan’s Upper East Side. Daniel Hilpert secured the bank financing for the borrower, a foreign developer, at a competitive interest rate.
NEW YORK CITY — Cushman & Wakefield has facilitated the sale of a medical office building located at 407-409 E. 70th St. in Manhattan’s Upper East Side. An undisclosed buyer acquired the five-story building for $17 million, or $1,133 per square foot. The 15,000-square-foot property was sold by a group of doctors who practice in the building. Upon sale, the former owners inked a long-term leaseback for the space. Mitchell Levine, Guthrie Garvin and James Nelson of Cushman & Wakefield brokered the transaction.
NEW YORK CITY — Oxford Properties Group and Crown Acquisitions has completed a 175,000-square-foot lease extension through 2035 with the National Basketball Association (NBA) at Olympic Tower, located at 646 Fifth Ave. in Midtown Manhattan. The property owners plan to significantly modernize the office property’s lobby and public space to deliver a more engaging, customer-focused experience. Adam Frazier of Oxford, along with Paul Amrich, Howard Fiddle, Neil King and Patrice Meagher of CBRE, represented the owners, while Mary Ann Tighe, Gregory Tosko, Andrew Sussman and Munish Viralam of CBRE represented the tenant in the transaction.
NEW YORK CITY — The North Face has opened its first-ever flagship store in New York City. Located at 510 Fifth Ave., the 20,000-square-foot store offers an immersive brand experience for customers by bringing the beauty of outdoor exploration inside while inspiring customers to push their limits outside. The new store features a climbing wall; custom product available only at the Fifth Avenue location, including a limited edition Original Daypack collection, a collaboration with New Era; and on-site product customization featuring vintage and new collectible patches in partnership with Lot, Stock and Barrel. Additionally, the store has specialist associates on hand to assist customers with choosing technical apparel. This year marks the 50th anniversary of The North Face, which was founded in 1966.
NEW YORK CITY — Denihan Investments has completed a redemption agreement with Pebblebrook Hotel Trust for the transfer of ownership of six jointly-owned hotels in Manhattan at a total value of $820 million. Through the agreement, Denihan becomes the sole owner of four of the assets, totaling 917 rooms — The Benjamin, Fifty NYC, Gardens NYC, and Shelburne NYC, while Pebblebrook assumes full ownership of Dumont NYC and Manhattan NYC, totaling 870 rooms. The portfolio is a subset of Denihan’s portfolio, which also includes The James hotels in New York, Chicago and the to-be-built West Hollywood location, as well as The Surrey and The Carlton in New York City. Carl Schwartz and Anthony Bonan of Hunton & Williams LLP advised Pebblebrook in the transaction.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a five-building multifamily portfolio in the Fordham Manor section of the Bronx. An undisclosed buyer acquired the 214-unit portfolio for $35.8 million. Totaling 194,944 square feet, the buildings are located at 2489 Morris Ave., 1225 Sherman Ave., 2101 and 2499 Grand Ave. and 1900 Grand Course. Aaron Jungreis of Rosewood Realty Group represented the undisclosed seller and buyer in the deal.