Northeast Archives - REBusinessOnline

SL Green Sells Stake in Midtown Manhattan Office Building to Rockpoint

Taylor Williams — Tue, 06 Jan 2026 15:21:11 +0000

NEW YORK CITY — Local real estate giant SL Green (NYSE: SLG) has sold a 49 percent stake in 100 Park Avenue in Midtown Manhattan to Boston-based real estate private equity firm Rockpoint at a gross asset valuation of $425 million. Major tenants at the 36-story, 905,000-square-foot building include Alphasights (192,630 square feet) and Alvarez & Marsal Holdings (220,221 square feet). The building also features a recently renovated amenity center on the second floor that has a lounge, golf simulator, game room, personal training studio and conference rooms. Adam Spies and Doug Harmon of Newmark advised on the transaction.

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BlueGate Partners Arranges $150M Permanent Loan for Northern New Jersey Apartment Building

Taylor Williams — Tue, 06 Jan 2026 15:14:02 +0000

HOBOKEN AND JERSEY CITY, N.J. — Regional brokerage and debt advisory firm BlueGate Partners has arranged a $150 million permanent loan for The Devan, a 336-unit apartment building located along the Hoboken-Jersey City border. Completed in 2024, The Devan offers studio, one-, two- and three-bedroom units and amenities such as a fitness center, library/media room, coworking lounges, courtyard with a pool and a dog run. Mark DeLillo of BlueGate Partners arranged the financing on behalf of the borrower, a partnership between URSA Development Group and Fields Grade. The direct lender was not disclosed.

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Greek Real Estate Breaks Ground on 81,156 SF Spec Industrial Project in Metro Philadelphia

Taylor Williams — Tue, 06 Jan 2026 15:03:41 +0000

RIDLEY TOWNSHIP, PA. — Regional owner-operator Greek Real Estate Partners has broken ground on an 81,156-square-foot speculative industrial project in Ridley Township, a southwestern suburb of Philadelphia. Provident Bank provided a $12.3 million construction loan for the project, the site of which spans 12 acres at 130 S. Fairview Road. JLL represented the seller in the land deal and arranged the construction debt on behalf of the developer. Construction is slated for a mid-2026 completion.

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Ariel Property Advisors Places $6.1M Loan for Refinancing of Brooklyn Apartment Buildings

Taylor Williams — Tue, 06 Jan 2026 14:52:29 +0000

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has placed a $6.1 million loan for the refinancing of two rent-stabilized apartment buildings totaling 26 units in the Park Slope area of Brooklyn. The buildings include ground-floor retail space. Matthew Dzbanek and Matt Swerdlow of Ariel originated the five-year loan, which carried an interest rate of 5.81 percent, through an undisclosed agency lender. The borrower was also not disclosed.

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Related Cos., Oxford Properties Close $2.45B Capitalization for 70 Hudson Yards Office Tower in Manhattan

John Nelson — Tue, 06 Jan 2026 13:00:00 +0000

NEW YORK CITY — Related Cos. and Oxford Properties Group have fully capitalized 70 Hudson Yards, a 72-story office tower underway within the co-developers’ 28-acre Hudson Yards campus in Manhattan’s Midtown West neighborhood. The companies recently closed $2.45 billion in financing for the project, including a $1.6 billion construction loan from Wells Fargo, Bank of America and Standard Chartered, as well as equity from institutional investors. “Securing full equity and the largest construction loan in New York since 2020, on attractive terms, demonstrates the growing global demand from sophisticated investors and lenders of capital into first class office product like 70 Hudson Yards,” says Dean Shapiro, Oxford’s global head of development. The multi-tenant tower will span 1.4 million square feet and include the U.S. headquarters for Deloitte, one of the “big four” accounting firms that signed a lease for more than 800,000 square feet at the tower last year. The lease represents the largest tenant relocation in New York City since 2020, according to Related and Oxford. Shapiro adds that the co-developers broke ground before the lease with Deloitte was executed. Related and Oxford plan to begin vertical construction in the first half of the year. The foundations are nearing…

Navigating Fannie Mae, Freddie Mac Small Balance Multifamily Loan Programs

Sarah Daniels — Tue, 06 Jan 2026 12:00:00 +0000

By Ann Atkinson, Regions Real Estate Capital Markets Most multifamily real estate owners need to finance or refinance their apartment community at some point. Many utilize the small balance multifamily loan programs available through Fannie Mae and Freddie Mac to do so. Understanding how lenders navigate each phase of the loan cycle can give owners a strategic advantage, especially in a time of elevated rate volatility. A significant amount of multifamily debt is maturing in 2026. Borrowers should not wait to refinance to avoid the concentrated competition later in the year when lenders are faced with refinancing demand. In addition, modest rent growth today offers refinancing upside; and finally, Fannie Mae and Freddie Mac have higher production caps in 2026 providing more runway for lending. The following overview, based on Regions Real Estate Capital Markets’ experience, outlines five key phases of the process, with helpful tips throughout: 1. Screening and Term Sheet Loan screening kicks off the relationship between borrower and lender. The lender’s production representative often conducts an introductory call with the borrower, who completes an application and provides due diligence items. Access a checklist of items to provide to Regions for screening here. Tip #1: Get all required (and…

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Panattoni to Develop 1.2 MSF Industrial Project in Morgantown, Pennsylvania

Taylor Williams — Mon, 05 Jan 2026 16:24:51 +0000

MORGANTOWN, PA. — California-based Panattoni Development Co. will build a 1.2 million-square-foot industrial project in Morgantown, about 50 miles northwest of Philadelphia. Known as New Morgan Gateway Commerce Center, the development will comprise a 925,680-square-foot building and a 291,600-square-foot building on a 128-acre site. Both buildings will feature clear heights of 40 feet. HDA Architects is designing the project, and Brinkmann Constructors is serving as the general contractor. A construction timeline was not announced.

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Cushman & Wakefield Brokers Sale of 97,145 SF Industrial Park in Clifton, New Jersey

Taylor Williams — Mon, 05 Jan 2026 16:14:24 +0000

CLIFTON, N.J. — Cushman & Wakefield has brokered the sale ofthe 97,145-square-foot Route 3 Industrial Park in the Northern New Jersey community of Clifton. The property consists of two shallow bay buildings on a 4.5-acre site that were fully leased at the time of sale. Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema of Cushman & Wakefield represented the seller, Longpoint Partners, in the transaction. The buyer was The Silverman Group.

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HKS Real Estate Arranges $7.9M Acquisition Loan for Connecticut Shopping Center

Taylor Williams — Mon, 05 Jan 2026 15:56:22 +0000

MILFORD, CONN. — New York City-based HKS Real Estate Advisors has arranged a $7.9 million acquisition loan for a 105,481-square-foot shopping center in the southern coastal Connecticut city of Milford. The center sits on a 22-acre site and was 44 percent leased at the time of sale. Andrew Pilchick and Alex Dobosh of HKS arranged the debt through 360 Capital Funding on behalf of the borrower, Constitution Credit, which plans to implement a value-add program.

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Dumbo Market Opens 13,500 SF Grocery Store in Queens

Taylor Williams — Mon, 05 Jan 2026 15:32:52 +0000

NEW YORK CITY — Dumbo Market has opened a 13,500-square-foot grocery store in Queens. The store is located within Jasper, a 499-unit apartment community in the borough’s Long Island City neighborhood that features 33,000 square feet of retail space. A partnership between The Domain Cos., LMXD and Bridge Investment Group Holdings LLC owns Jasper.

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Partnership Receives $255.6M in Construction Financing for Bronx Affordable Housing Project

Taylor Williams — Mon, 05 Jan 2026 12:54:00 +0000

NEW YORK CITY — A partnership between affordable housing developer Type A Projects and local nonprofit organization BronxWorks has received $255.6 million in construction financing for River Commons, a 328-unit project that will be located in the Concourse area of The Bronx. Construction is expected to begin within the coming weeks. The package includes $91.3 million in both tax-exempt ($64.3 million) and taxable ($27 million) bond financing from the New York City Housing Development Corp. In addition, the New York City Department of Housing Preservation and Development (HPD) is providing more than $100 million in capital through its New Construction Finance program. Capital One also provided a letter of credit on the deal. Additional financing for the project stems from Low-Income Housing Tax Credits that were syndicated by Hudson Housing Capital. Situated on the former site of a former hospital parking lot, River Commons will be a 17-story building that will house 328 affordable and supportive housing units, a 43,000-square-foot public healthcare center that will be operated by New York City Health + Hospitals (H+H) and 6,000 square feet of flexible community space that will be occupied by African Communities Together. The development will also feature a 7,000-square-foot public green…

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Partnership Buys Midtown Manhattan Hotel for $255M, Plans Affordable Housing Conversion

Taylor Williams — Tue, 23 Dec 2025 15:27:22 +0000

NEW YORK CITY — A partnership between local owner-operator Slate Property Group and nonprofit supportive housing developer Breaking Ground has acquired the Stewart Hotel in Midtown Manhattan for $255 million with plans to implement an affordable housing conversion. Slate will develop the project, which will convert the 611-room hotel into a 579-unit apartment complex, and Breaking Ground will own and operate the property upon completion. The 31-story hotel, which is located across from Penn Station and closed in 2022, also features a 100-space underground parking garage, 12,000 square feet of ground-floor retail space and 3,500 square feet of ballroom space. All units will be reserved for low-income households and/or formerly homeless individuals, with rents to range from $1,385 to $1,731 per month. Construction is scheduled to begin late next year. As part of the redevelopment, the project team will replace all major utility and mechanical systems, upgrade lighting and merge adjacent hotel rooms into living spaces as needed. New office space will be constructed for onsite social services, and the building will also have full-time security and maintenance staff.

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JLL Arranges $176M Refinancing of Northern New Jersey, South Florida Industrial Portfolio

Taylor Williams — Tue, 23 Dec 2025 15:23:27 +0000

MORRISTOWN, N.J. — JLL has arranged a $176 million loan for the refinancing of a portfolio of six industrial properties totaling approximately 1.2 million square feet. Four of the properties are located in the Northern New Jersey communities of Carlstadt, Lyndhurst, Carteret and North Brunswick and feature clear heights of 16 to 25 feet. The other two properties are located in South Florida. Jim Cadranell, Gregory Nalbandian, Michael Lachs and Kevin Badger of JLL arranged the eight-year, fixed-rate loan through insurance giant Nationwide on behalf of the borrower, Seagis Property Group. The portfolio was 96 percent leased at the time of the loan closing.

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Berkadia Provides $32.4M in Agency Financing for Bronx Apartment Building

Taylor Williams — Tue, 23 Dec 2025 15:06:14 +0000

NEW YORK CITY — Berkadia has provided $32.4 million in Freddie Mac financing for The Riverdale Tower, an 89-unit apartment building in The Bronx. The 18-story building was completed in 2024 and offers studio, one- and two-bedroom units that range in size from 400 to 900 square feet, 27 of which are earmarked as affordable housing. Amenities include a fitness center, community room, two patios and a pickleball court. Matt Nihan of Berkadia originated the 10-year, fixed-rate loan, which retires existing construction debt, on behalf of the borrower, Stagg Group. The building was fully occupied at the time of the loan closing.

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Marcus & Millichap Brokers $7.3M Sale of Retail Strip Center in Rutherford, New Jersey

Taylor Williams — Tue, 23 Dec 2025 15:02:56 +0000

RUTHERFORD, N.J. — Marcus & Millichap has brokered the $7.3 million sale of a 21,897-square-foot retail strip center in the Northern New Jersey community of Rutherford. The property at 308–314 Union Ave. was originally built in 1925 and most recently renovated in 2019. Tenants include Dunkin’, Kiddie Academy, Three Star News Stand, Next Big Coder, Master Park’s and Laundry Guy’s. Alan Cafiero, David Cafiero and John Moroz of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Kislak Negotiates $3.3M Sale of Industrial Facility in Pennington, New Jersey

Taylor Williams — Tue, 23 Dec 2025 15:00:35 +0000

PENNINGTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $3.3 million sale of a 30,375-square-foot industrial facility in Pennington, located just north of Trenton. The multi-building facility is known as Hopewell Valley Industrial Park and was originally built on 8.2 acres in 1988. Daniel Lanni of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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HKS Real Estate Arranges $31.7M Loan for Refinancing of Brooklyn Apartment Building

Taylor Williams — Mon, 22 Dec 2025 15:08:41 +0000

NEW YORK CITY — Locally based financial intermediary HKS Real Estate Advisors has arranged a $31.7 million loan for the refinancing of a 53-unit apartment building in Brooklyn’s Greenpoint neighborhood. The newly constructed, six-story building at 36 India St. includes two commercial spaces and 27 parking spaces. Andrew Pilchick and Alex Dobosh of HKS arranged the debt through 360 Capital Funding on behalf of the borrower, Navistone Development.

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Marcus & Millichap Brokers $20.5M Sale of Metro Boston Multifamily Property

Taylor Williams — Mon, 22 Dec 2025 14:28:56 +0000

ARLINGTON, MASS. — Marcus & Millichap has brokered the $20.5 million sale of Mystic Grove Apartments, a 60-unit multifamily complex located on the northwestern outskirts of Boston. Built in phases between 1925 and 1963, Mystic Grove offers studio, one-, two- and four-bedroom apartments, as well as a fitness center and onsite laundry facilities. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Brookfield Completes 151,676 SF Industrial Project in Union, New Jersey

Taylor Williams — Mon, 22 Dec 2025 14:27:09 +0000

UNION, N.J. — Brookfield Properties has completed a 151,676-square-foot industrial project in the Northern New Jersey community of Union. Known as Union Distribution Center, the development features a clear height of 36 feet, 28 dock doors, two drive-in doors, 4,000 square feet of office space and parking for 16 trailers and 123 cars. PREMIER Design + Build Group handled both the architectural and general contracting aspects of the project.

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Colliers Negotiates Sale of 66,500 SF Vacant Office Building in Bridgewater, New Jersey

Taylor Williams — Mon, 22 Dec 2025 14:25:18 +0000

BRIDGEWATER, N.J. — Colliers has negotiated the sale of CenterPointe I, a 66,500-square-foot vacant office building in the Northern New Jersey community of Bridgewater. Allstate Insurance previously occupied the building, which according to LoopNet Inc. is part of a larger campus known as CenterPointe at Bridgewater. Jacklene Chesler, Patrick Norris and Brittany Leventoff of Colliers represented the seller, Signature Acquisitions, in the transaction. The buyer was an undisclosed nonprofit organization.

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