New York

HAVERSTRAW, N.Y. — The Boulder Group, an Illinois-based brokerage firm, has arranged the $5 million sale of a 3,034-square-foot retail property in Haverstraw, about 35 miles north of Manhattan, that is net leased to 7-Eleven. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a regional developer, in the transaction. The buyer was a New York-based private investor that acquired the asset via a 1031 exchange. Both parties requested anonymity.

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NEW YORK CITY — Locally based brokerage firm Stav Equities LLC has negotiated the $2.5 million sale of a vacant, four-story multifamily property located at 1362 Pacific St. in the Crown Heights area of Brooklyn. Andrew Levine, Josh Lipton and Jax Hindmarch of Invictus Property Advisors collaborated with Jacob Stavsky of Stav Equities LLC to execute the off-market transaction. The buyer and seller were not disclosed.

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NEW YORK CITY — Verci, a social network for New York City residents, has signed a 6,000-square-foot office lease at 394 Broadway in Manhattan’s SoHo neighborhood. Nolan Kagan and Jared Sternberg of The Kaufman Organization represented the tenant, which will occupy the fifth floor as its new headquarters space, in the lease negotiations. Miyad Realty represented the landlord.

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CENTEREACH, N.Y. — A partnership between a division of Simone Development Cos. and operator Catholic Health has opened a $47 million, multi-specialty healthcare facility in the Long Island community of Centereach. The facility is known as Catholic Health Ambulatory & Urgent Care at Centereach. The site previously housed a 63,000-square-foot retail building that was occupied by Ocean State Job Lot, which continues to own and operate a 36,000-square-foot store adjacent to the property. The facility also offers diagnostic imaging services, an onsite pharmacy and a dedicated suite for gastroenterologists to perform endoscopies. Newman Design served as the project architect.

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NEW YORK CITY — JLL has arranged the $10.8 million sale of two apartment buildings located at 175-177 East Third St. in Manhattan’s East Village. The five-story, walk-up buildings house a total of 20 one-bedrooms units, two of which have been duplexed with the basement. Hall Oster, Teddy Galligan and Guthrie Garvin of JLL represented the seller, an undisclosed private investor that owned the buildings for 30 years, in the transaction. The buyer was Lockhill Properties.

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Versace-Paris

NEW YORK CITY — Tapestry (NYSE: TPR), owner of fashion brands Coach, Kate Spade and Stuart Weitzman, has agreed to acquire luxury fashion group Capri Holdings Limited (NYSE: CPRI) for $8.5 billion. Both companies are based in New York City. Capri Holdings consists of Versace, Jimmy Choo and Michael Kors. The group spans a retail footprint of over 1,200 stores globally, including 223 Versace locations, 237 Jimmy Choo stores and 812 Michael Kors locations.  The all-cash transaction, which was unanimously approved by the board of directors at both Tapestry and Capri Holdings, is expected to close in 2024. Capri shareholders will receive $57 per share.  Combined, the companies generated $12 billion in global annual sales in 2022 and have a presence in over 75 countries.  “We are excited to announce the acquisition of Capri Holdings — uniting six iconic brands and exceptional global teams,” says Tapestry CEO Joanne Crevoiserat. “The combination of Coach, Kate Spade and Stuart Weitzman together with Versace, Jimmy Choo and Michael Kors creates a new powerful global luxury house, unlocking a unique opportunity to drive enhanced value for our consumers, employees, communities and shareholders around the world.” Tapestry has secured $8 billion in fully committed bridge …

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Public-Storage-Midtown-Manhattan

NEW YORK CITY — A joint venture between The Davis Cos., a Boston-based development and investment firm, and Highland Development Ventures has completed a 6,000-unit self-storage facility at 155 West 29th St. in Manhattan’s Chelsea neighborhood. Public Storage will operate the facility, which rises 18 stories and spans roughly 180,000 net rentable square feet. Project partners included Mancini Duffy (architect of record), Cauldwell Wingate Construction (general contractor), GEA Consulting Engineers (mechanical, electrical, plumbing and fire protection engineer) and McNamara Salvia (structural engineer).

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NEW YORK CITY — Empire State Development has signed a 117,181-square-foot office headquarters lease at 655 Third Avenue in Midtown Manhattan. The state’s chief economic development agency will occupy five full floors of the 30-story, 425,000-square-foot building, which was originally constructed in 1958. Tom Bow, Ashlea Aaron and Bailey Caliban internally represented the landlord, The Durst Organization, in the lease negotiations. Moshe Sukenik and Brian Cohen of Newmark, along with Joan Brothers of Manhattan Boutique Real Estate, represented Empire State Development.

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WESTBURY, N.Y. — Locally based developer Terwilliger & Bartone Properties has begun leasing Cornerstone Westbury, a 112-unit apartment complex located in the Long Island community of Westbury. Phase I of the project totals 72 units and will be complete this fall, while Phase II consists of 58 units that are scheduled to come on line in early 2024. Residences come in studio, one- and two-bedroom floor plans, with 18 units reserved as workforce housing. Amenities include a fitness center, clubhouse and a rooftop patio. Information on starting rents was not disclosed.

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TROY, N.Y. — The United Group of Cos. has begun sitework on City Station North, a mixed-use project that will be located just outside Albany in Troy. City Station North will consist of 87 market-rate apartments, 40,000 square feet of office space and a 160-space covered parking garage on a one-acre site. The office building will rise four stories and house suites starting at 2,500 square feet. Residential units will come in one- and two-bedroom floor plans and range in size from 675 to 1,277 square feet, while residential amenities will include a fitness center, rooftop terrace and a community room. Demolition of existing structures on the site is underway.

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