New York

Ariel Property Advisors Arranges $55.6M Sale of Harlem Affordable Housing Portfolio

by Taylor Williams March 24, 2026

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $55.6 million sale of the Harlem River Point Portfolio, a collection of two affordable housing buildings totaling 315 units in Harlem. Harlem River Point North is an 11-story, 173-unit building that was constructed in 2015 and includes two commercial units. Harlem River Point South rises 14 stories, totals 140 units and was built in 2014. Amenities include a fitness center, playground and onsite laundry facilities. Victor Sozio, Shimon Shkury, Alexander Taic, Jake Brody and Remi Mandell of Ariel brokered the deal. The buyer and seller were not disclosed.

March 24, 2026

Gotham-Cannabis-Dispensary-&-Delivery-Manhattan

Market Reports New York Northeast Northeast Market Reports Retail

New York’s Cannabis Retail Market Has Entered Its Real Estate Phase

by Taylor Williams March 24, 2026

By Greg Tannor, executive managing director, and Jessica Gerstein, director, Lee & Associates NYC For much of the past three years, the rollout of legal cannabis in the state of New York has been defined by headlines about licensing delays, regulatory hurdles and political infighting. That phase is largely over. Hundreds of adult-use dispensaries are now open across the state, and the market is entering a far more consequential — and less discussed — stage. Cannabis retail in New York is no longer constrained primarily by licenses. It is constrained by real estate. On the ground, the industry is moving rapidly out of its novelty phase and into a performance-driven phase where locational quality, operational discipline and realistic deal structures are separating winners from losers. This shift has major implications, not only for operators, but also for landlords, lenders and brokers who are navigating the sector for the first time. Compliance, Not Curiosity, Is The New Bottleneck Demand from licensed dispensary operators remains strong, particularly in New York City. But truly viable retail locations that meet state and local requirements while also making economic sense remain scarce. In Manhattan, the challenge is especially acute. Buffer zones restricting proximity to schools, houses of worship …

March 24, 2026

Loans New York Northeast Retail

Largo Capital Arranges $26M Loan for Refinancing of Staten Island Shopping Center

by Taylor Williams March 20, 2026

NEW YORK CITY — Largo Capital, a financial intermediary based in upstate New York, has arranged a $26 million loan for the refinancing of a 99,897-square-foot shopping center in the Great Kills neighborhood of Staten Island. Regional grocer ShopRite anchors the center under a long-term lease. Kevin Coscia of Largo Capital arranged the financing through an undisclosed life insurance company. The borrower was also not disclosed.

March 20, 2026

Loans Multifamily New York Northeast

JLL Arranges $370M Loan for Refinancing of Brooklyn Apartment Complex

by Taylor Williams March 18, 2026

NEW YORK CITY — JLL has arranged a $370 million bridge loan for the refinancing of Society Brooklyn, a 517-unit apartment complex in the borough’s Gowanus neighborhood. Society Brooklyn comprises 385 market-rate units and 132 affordable housing units, as well as 57,288 square feet of retail and commercial space, across two buildings. Residences are furnished with stainless steel appliances, Caesarstone countertops and individual washers and dryers. Amenities include fitness centers, yoga studios, screening rooms, coworking spaces, rooftop terraces and pool decks with barbecue areas. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the three-year loan through Brookfield Asset Management. The borrower is a partnership between Property Markets Group and The Carlyle Group.

March 18, 2026

Loans New York Northeast Office

GFP Receives $86.5M Loan for Refinancing of Midtown Manhattan Office Building

by Taylor Williams March 17, 2026

NEW YORK CITY — Local owner-operator GFP Real Estate has received an $86.5 million loan for the refinancing of 515 Madison Avenue, a 42-story office building in Midtown Manhattan. Originally constructed in 1932, the 350,000-square-foot structure is known locally as the DuMont Building, a name that references the building’s role in the first television broadcasts of Allen DuMont’s experimental station W2XWV in 1938. Today, the building is home to tenants such as Encore Physical Therapy, Longacre Asset Management and GFP Real Estate itself. Paul Talbot of Newmark arranged the 10-year, floating-rate loan, which retires a $120 million loan that was originated in 2012 and had a balance of $81 million, through Apple Bank.

March 17, 2026

Development Multifamily New York Northeast

Partnership Begins Leasing 187-Unit Multifamily Project in Brooklyn

by Taylor Williams March 16, 2026

NEW YORK CITY — A partnership between Ailanthus, BEB Capital and SK Development has begun leasing One Sunset, a 187-unit multifamily project in Brooklyn’s Sunset Park neighborhood. Designed by dencityworks | architecture with interiors by Alchemy Studio, the 14-story building offers one-, two- and three-bedroom floor plans, with 46 units reserved as affordable housing. Amenities include a fitness center, game/media room, coworking lounge, private dining/entertainment areas and a rooftop terrace. Corcoran New Development is leading the residential leasing efforts. Rents start at roughly $3,200 per month for a one-bedroom apartment.

March 16, 2026

Development Hospitality New York Northeast

Emerson Hospitality Underway on Hotel Redevelopment Project in Esopus, New York

by Taylor Williams March 16, 2026

ESOPUS, N.Y. — Emerson Hospitality is underway on a hotel redevelopment project in Esopus, located roughly midway between New York City and Albany. The project will convert Black Creek Barns, a historic 153-acre estate, into a 70-room hotel and resort via the restoration of six historic structures and construction of new cabins and suites. Amenities will include a 7,000-square-foot indoor event hall, a 9,000-square-foot craft and design hall, a pool, wellness center and two dining venues. Institutional Property Advisors, a division of Marcus & Millichap, arranged $38 million in construction financing, including $19 million in C-PACE debt, for the project, which is slated for a late-2027 completion.

March 16, 2026

Acquisitions New York Northeast Office Retail

Newmark Brokers Sale of 32,400 SF Office, Retail Building in Manhattan’s SoHo District

by Taylor Williams March 16, 2026

NEW YORK CITY — Newmark has brokered the sale of a 32,400-square-foot office and retail building in Manhattan’s SoHo district. The landmark five-story building at 61–63 Crosby St. was fully leased at the time of sale to office users such as Comcast Ventures, Aptos Labs and SISTER Group. Patagonia’s New York City flagship store anchors the building’s retail component. The buyer was local investment firm Vertex, and the seller was undisclosed. Adam Spies, Adam Doneger, Josh King, Marcella Fasulo and Meaghan Philbin of Newmark brokered the deal.

March 16, 2026

Development Multifamily New York Northeast

BLDG Management Begins Leasing 70-Story Apartment Tower in Queens

by Taylor Williams March 13, 2026

NEW YORK CITY — BLDG Management Co. has begun leasing The Orchard, a 70-story apartment tower located in the Long Island City neighborhood of Queens. The Orchard houses 824 units, including 576 market-rate apartments, 248 affordable housing units and a penthouse with a rooftop deck, as well as 13,000 square feet of above-grade retail space. The development also features 100,000 square feet of amenity space. Specific amenities include a fitness center, indoor and outdoor pools, a spa with a steam room and sauna, basketball court, multi-sport simulator, lounge areas, a children’s playroom, game room, movie screening rooms, work pods, a dog spa and a package room with refrigerated storage. The Orchard also features a “backyard” with an apple orchard, three pickleball courts, an outdoor screening area. Perkins Eastman designed The Orchard, and Triton Construction served as the general contractor. Construction began in summer 2023, and the first move-ins are now underway. Monthly rents start in the mid-$3000s for a one-bedroom apartment.

March 13, 2026

Acquisitions Development New York Northeast

GFI Realty Arranges $38M Sale of Manhattan Commercial Development Site

by Taylor Williams March 13, 2026

NEW YORK CITY — Local brokerage firm GFI Realty has arranged the $38 million sale of a commercial development site in Manhattan’s Kips Bay neighborhood. The site is an assemblage of parcels at 563–571 Second Ave. and 247–251 East 31st St., which can collectively support 88,000 square feet of buildable product. The Marchi Family sold the acreage to Empire Development. Leah Balkany and Michael Weiser of GFI Realty brokered the deal.

March 13, 2026

Newer Posts

Older Posts