New York

Greystone Provides $97.6M HUD-Insured Loan for Refinancing of Harlem Affordable Housing Complex

by Taylor Williams January 30, 2026

NEW YORK CITY — Greystone has provided a $97.6 million HUD-insured loan for the refinancing of Villa Hermosa, a 272-unit affordable housing complex in East Harlem. Built in 1910, Village Hermosa offers one-, two- and three-bedroom units that are reserved for households earning 50 percent or less of the area median income. Eric Rosenstock and Jeff Englund of Greystone originated the nonrecourse loan, which carries a 35-year term and a fixed interest rate, through HUD’s 223(f) program. The borrower, Metropolitan Realty Group, will use a portion of the proceeds to fund capital improvements, including upgrades to unit interiors and building utility systems.

January 30, 2026

Acquisitions Mixed-Use New York Northeast

Ariel Property Advisors Negotiates $6.9M Sale of Brooklyn Mixed-Use Building

by Taylor Williams January 30, 2026

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $6.9 million sale of a 7,500-square-foot mixed-use building in the Boerum Hill area of Brooklyn. The four-story building at 292-294 Atlantic Ave. consists of five market-rate apartments, three retail spaces and one office space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.

January 30, 2026

Loans New York Northeast Office

Newmark Arranges $210M Refinancing of Midtown Manhattan Office Building

by Taylor Williams January 29, 2026

NEW YORK CITY — Newmark has arranged the $210 million refinancing of 1375 Broadway, a 520,000-square-foot office building in Midtown Manhattan. The building recently underwent a capital improvement program that upgraded the lobby, entrance, common areas and tenant lounges and also introduced a 6,000-square-foot rooftop terrace. Nick Scribani, Ricky Braha, Tim Polgase and Niv Shahmoon of Newmark arranged the debt through Boston-based private equity firm Bain Capital. The borrower was a partnership between 60 Guilders and Sentry Realty.

January 29, 2026

Leasing Activity New York Northeast Office

Wolf Popper Signs 13,400 SF Office Lease in Midtown Manhattan

by Taylor Williams January 29, 2026

NEW YORK CITY — Wolf Popper LLP has signed a 13,400-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 19th floor at 570 Lexington Avenue, a 450,622-square-foot building that was constructed in 1932. Daniel Horowitz, Ira Schuman, Jeffrey Peck, Jacob Stern and Skyler Celotto of Savills represented the tenant in the lease negotiations. The landlord, The Feil Organization, was self-represented.

January 29, 2026

Company News Industrial Massachusetts New York Northeast

Makarora, Ares Complete $2.1B Acquisition of Plymouth Industrial REIT

by Taylor Williams January 28, 2026

NEW YORK CITY AND BOSTON — Affiliates of New York City-based investment firm Makarora Management and global investment firm Ares Management Corp. (NYSE: ARE) have completed the $2.1 billion, all-cash acquisition of Boston-based Plymouth Industrial REIT. Under the terms of the deal, which was announced last fall, Plymouth shareholders will receive $22 for each share of common stock they own, and Plymouth will no longer be traded or listed on any public securities exchange. The transaction also calls for the acquiring entities to assume certain pieces of Plymouth’s outstanding debt. The purchase price represents a premium of approximately 50 percent to Plymouth’s unaffected closing common stock price on August 18, 2025. That date marks the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners LLC disclosing a nonbinding proposal to acquire all of the outstanding shares of Plymouth’s common stock.

January 28, 2026

Affordable Housing Development Multifamily New York Northeast

Slate, RiseBoro Complete 318-Unit Affordable Housing Redevelopment Project in Queens

by Taylor Williams January 28, 2026

NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has completed a 318-unit affordable housing redevelopment project in Queens. The property, which is known as Baisley Pond Park Residences, is a conversion of the 350-room JFK Hilton Hotel in the borough’s Jamaica neighborhood, which was originally built in 1987 and is located about half a mile from JFK International Airport. The new complex houses studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Aufgang Architects designed the project. Leasing began last spring.

January 28, 2026

Acquisitions Multifamily New York Northeast

Ariel Property Advisors Negotiates $5.6M Sale of Two Brooklyn Apartment Buildings

by Taylor Williams January 28, 2026

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.6 million sale of two apartment buildings in the Park Slope area of Brooklyn. The four-story buildings at 334-336 Ninth St. house seven market-rate apartments, one office space and one retail space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.

January 28, 2026

Loans Multifamily New York Northeast

Wells Fargo Provides $224.3M in Bridge Financing for Queens Apartment Tower

by Taylor Williams January 27, 2026

NEW YORK CITY —Wells Fargo has provided $224.3 million in bridge financing for The Italic, a 50-story apartment tower in the Long Island City area of Queens. Designed by SLCE Architects and built by Hunter Roberts Construction Group, the building houses 363 units in studio, one-, two- and three-bedroom units, with 109 residences designated as affordable housing. Amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and a rooftop terrace. The building also houses commercial space. Construction on The Italic topped out in late 2023, and leasing launched in spring 2025. Christopher Peck, Nicco Lupo, Michael Shmuely and Alex Staikos of JLL arranged the financing on behalf of the owner, a joint venture between Fetner Properties, Lions Group and The Carlyle Group. JLL also arranged the original construction loan for the project in spring 2023.

January 27, 2026

Acquisitions Healthcare New York Northeast Retail

Intercontinental Sells 127,496 SF Healthcare, Retail Building in Garden City, New York

by Taylor Williams January 26, 2026

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.

January 26, 2026

Leasing Activity New York Northeast Office

Slarskey LLC Signs 12,278 SF Office Lease in Midtown Manhattan

by Taylor Williams January 26, 2026

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.

January 26, 2026

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