GARDEN CITY, N.Y. — Intercontinental Real Estate Corp. has sold a 127,496-square-foot healthcare and retail building in Garden City, located on Long Island. The site spans 2.3 acres at 1300 Franklin Ave., and the building was originally constructed in the 1960s and renovated in 2007. Jose Cruz, Jeremy Neuer and David Leviton of JLL represented Intercontinental in the transaction. The buyer and sales price were not disclosed. The building was 78.5 percent leased at the time of sale.
NEW YORK CITY — Slarskey LLC has signed a 12,278-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 32nd floor of 825 Third Avenue, a 40-story building at which a $150 million capital improvement program was recently completed. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the tenant in the lease negotiations. Tom Bow, Ashlea Aaron, Bailey Caliban and Sayo Kamara represented the landlord, The Durst Organization, on an internal basis.
NEW YORK CITY — Newmark has arranged $218 million in financing for the acquisition and office-to-residential conversion of 101 Greenwich Street in downtown Manhattan. Apollo Global Management provided the funds to the borrower, a partnership between Quantum Pacific and MetroLoft Developers. According to the property website, 101 Greenwich Street was originally constructed in the early 20th century and spans 480,000 rentable square feet. Neither a timeline for construction nor information on residential floor plans or amenities was announced, but the New York Business Journal reports that the new complex will have 614 units. Jordan Roeschlaub, Christopher Kramer and Holden Witkoff led the debt placement efforts for Newmark on behalf of ownership. Adam Spies and Adam Doneger, also with Newmark, represented the seller, institutional investment firm BentallGreenOak, in the $105 million sale of the property. According to the deal team, 101 Greenwich Street is a viable office building for residential conversion due to certain design features, such as U-shaped floor plates, extensive window lines, strong natural light and above-average ceiling heights. — Taylor Williams
NEW YORK CITY — Locally based developer The Moinian Group has provided updates on its speculative office project at 220 11th Ave. in the West Chelsea area of Manhattan. The project was originally announced in February 2020, but construction was delayed until early 2022. The foundation of the nine-story, 210,000-square-foot building is now complete, and Moinian Group has appointed Newmark as the new leasing agent. Designed by David Burns Studio Architecture, the building will feature two sculptural terraces, a 12,470-square-foot landscaped rooftop and two penthouse terraces totaling 2,200 square feet. At street level, an 11,920-square-foot duplex space offers the potential for flagship retail or flexible commercial use. An expected completion date was not announced, but the project team says that a prospective anchor tenant can commence its interior buildout within 18 months of lease execution.
HICKSVILLE, N.Y. — The Community Preservation Corp. (CPC), a nonprofit, multifamily finance company, has provided a $7.5 million construction loan for a 20-unit project in Hicksville, located on Long Island. The building will be located at 33-37 Cherry St. in the downtown area, just three blocks from the LIRR Hicksville Station, where a $300 million modernization is nearing completion. The building, which is slated for a spring 2027 delivery, will include three permanently affordable units and offer amenities such as a fitness center and a coworking lounge. The borrower is an entity doing business as Premerio Cherry LLC.
NEW YORK CITY — Cerity Partners has signed an office lease expansion in Midtown Manhattan. The wealth management and financial advisory firm currently subleases space on the 16th floor of 99 Park Avenue, a 26-story, 600,000-square-foot building. In 2027, Cerity Partners will transition to direct tenancy and expand its footprint to 48,671 square feet, inclusive of the entire 15th floor. Nicholas Dysenchuk and Rob Lowe of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.
NEW ROCHELLE, N.Y. — AANDAR Real Estate Capital, a boutique capital advisory firm based in New Jersey, has arranged the $145.3 million refinancing of The Alary, a 315-unit apartment building in New Rochelle, located north of New York City. The financing consists of a $125.8 million senior bridge loan from Greystone and a $19.5 million preferred equity investment from Forum Investment Group. Developed by Allstate Ventures and completed last year, The Alary offers studio, one- and two-bedroom units. Indoor amenities include a fitness center, coworking spaces with private pods and conference rooms, a game room with a wet bar, sports simulator, children’s playroom and a sky lounge with a full-service bar. Outside, residents have access to a rooftop area with a pool, outdoor cinema, barbecue kitchens, fire pits and a dog park. Shaya Sonnenschein and Michael Weisz led the transaction for AANDAR.
NEW YORK CITY — ING Americas has signed a 30,783-square-foot office lease expansion at 1133 Avenue of the Americas in Manhattan. The affiliate of Dutch banking giant ING Group now occupies 153,915 square feet across five floors at the 1.1 million-square-foot building. Robert Stillman, Michael Geoghgan, Ryan Alexander, Paul Stimpfle, Harly Stevens and Marlee Teplitzky of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization.
CHAPPAQUA, N.Y. — CBRE has negotiated the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the center include anchors Whole Foods Market and Life Time Fitness, as well as Starbucks and Chase Bank. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Heitman, in the transaction and procured Barings as the buyer.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7 million sale of a 9,500-square-foot multifamily development site in The Bronx. The site at 114 Bruckner Ave. is located in the borough’s Mott Haven neighborhood and can support 68,400 buildable square feet of new development via eligibility for the City of Yes program. Jason Gold and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
