NEW YORK CITY — Vialto Group has signed a 10,000-square-foot office lease expansion in Manhattan’s Plaza District. The private equity firm now occupies 17,500 square feet across two floors at 545 Madison Avenue, a 17-story, 140,000-square-foot building. Tara Stacom led the Cushman & Wakefield team that represented the landlord, Marx Realty, in the lease negotiations. David Dusek, also with Cushman & Wakefield, represented Vialto Group.
NEW YORK CITY — Greystone has provided a $114.5 million bridge loan for the acquisition of a portfolio of nine affordable housing buildings totaling 753 units in Queens. Known as The State Preservation Portfolio, the elevator-served properties feature a mix of studio, one- and two-bedroom units, as well as covered parking. Information on specific income restrictions was not disclosed. The borrower is a partnership between national affordable housing owner-operator Iris Holdings Group and the New York City Department of Housing Preservation and Development. The partnership will use a portion of the proceeds to fund capital improvements and preserve the buildings’ affordability status.
NEW YORK CITY — A joint venture between Boston-based owner-operator The Davis Cos., Tribeca Investment Group (TIG) and ATCO will undertake a $50 million renovation of 630 Third Avenue, a 23-story, 261-445-square-foot office building in Midtown Manhattan. Renovations will include a full lobby remodeling, construction of a tenant amenity center and conferencing space and delivery of move-in ready office suites. Construction is set to begin in the first quarter and to last six to eight months. CBRE has been named as the leasing agent for 630 Third Avenue.
NEW YORK CITY — Locally based financial intermediary ERG Commercial Real Estate has arranged an $8.5 million bridge loan for the refinancing of a 40,000-square-foot industrial building on Staten Island. According to LoopNet Inc., the building at 501 Industry Road was completed in 1976 and features a clear height of 30 feet. The direct lender was a national bank, and the borrower was a local private investment group. Both parties requested anonymity. The building was fully leased at the time of the loan closing
NEW YORK CITY — Five Iron Golf will open a 15,856-square-foot entertainment venue in Brooklyn. The space spans the ground floor and lower level of 25 Kent, a 500,000-square-foot office building, and will include 13 simulators, a 7,000-square-foot gym and a bar and kitchen. Anthony Dattoma of CBRE represented Five Iron Golf, which plans to open in the second quarter of 2026, in the lease negotiations. Ben Birnbaum, Neal Ohm, Andrew Taub and Caleb Petersen of Newmark represented the landlord, Global Holdings.
NEW YORK CITY — Citymeals on Wheels has signed a 15,214-square-foot office lease in Midtown Manhattan. The nonprofit organization will occupy the entire ninth floor of 360 Lexington Avenue, a 24-story building. Steven Soutendijk of Cushman & Wakefield represented the tenant in the lease negotiations. Mitchell Konsker, Barbara Winter and Thomas Swartz of JLL, along with internal agent Samuel Salberg, represented the landlord, AMTrustRE.
NEW YORK CITY — Locally based investment and development firm AmTrustRE has entered into an agreement to buy 260 Madison Avenue, a 22-story office building in Midtown Manhattan, for roughly $217 million. The approximately 570,000-square-foot building was constructed in 1952 and was roughly 68 percent leased at the time of sale. Tenants include Hanesbrands, MGM, Regus, McLaughlin & Stern and Marcus & Millichap. AmTrust plans to invest between $60 million and $70 million in capital improvements to the building. The seller was The Sapir Organization.
MAMARONECK, N.Y. — Chicago-based brokerage firm Kiser Group has negotiated the $76 million sale of the 250-bed Sarah Neuman Skilled Nursing Facility in Mamaroneck, roughly 30 miles northeast of New York City. According to Kiser Group, the property was initially under contract for $84 million, but the first buyer had to withdraw from the transaction due to rising interest rates. Mark Myers led the Kiser Group team that arranged the sale. The seller was an undisclosed religious nonprofit organization. Myers also arranged interim financing on behalf of the buyer, including a $5 million loan, throughout the approval process.
NEW YORK CITY — Affordable housing owner-operator Tredway has completed the renovation of Greene Clermont Houses, a 97-unit affordable seniors housing complex in Brooklyn. Built in 1985, the seven-story complex is located in the borough’s Fort Greene neighborhood and houses units that are reserved for renters earning 50 percent or less of the area median income. Renovations upgraded units’ flooring, lighting, kitchens and bathrooms, and the community room has been enhanced to include a new kitchen, wellness room, nurse’s station and resident services coordinator office. Tredway partnered with the New York City Department of Housing Preservation and Development on the project, which also served to preserve the property’s affordability status for another 40 years.
NEW YORK CITY — Marcus & Millichap has brokered the $17.5 million sale of a 26,624-square-foot retail building in the Bushwick area of Brooklyn. The building at 321 Starr St. houses 10 units, and tenants include MetroRock, 48 Cypress and New York Film Lab. Shaun Riney, Michael Salvatico, Scott Plasky and Alexander Arustamanian of Marcus & Millichap represented the seller and procured the Canadian buyer in the transaction. Both parties requested anonymity.
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