NEW YORK CITY — A partnership between Rockefeller Group and Atlas Capital Group has entered into an agreement with the Roman Catholic Church of Holy Name of Jesus and Saint Gregory the Great to buy church-owned land on Manhattan’s Upper West Side, with plans to develop a mixed-income housing project. The agreement, valued at $96 million, involves land at 200 W. 97th St., and the project will involve underutilized portions of the church campus — such as the former school, convent and recreation buildings — while the active church continues its ministry. The number of units was not disclosed, but 25 percent of residences will be subject to income restrictions, and the new building will also have retail space. The deal is expected to close in the coming weeks.
NEW YORK CITY — Ariel Property Advisors has arranged the $79.8 million sale of a portfolio of eight affordable housing buildings totaling 347 units in Brooklyn’s Prospect Park neighborhood. Known as the Prospect Park South Portfolio, the properties collectively offer 33 studios, 154 one-bedroom units, 121 two-bedroom apartments, 56 three-bedroom residences, 14 four-bedroom units and nine five-bedroom units. Victor Sozio, Shimon Shkury, Sean Kelly, Remi Mandell, Lawrence Sarn, Nicole Daniggelis and Erik Moloney of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
EDISON, N.J. — NAI DiLeo-Bram has brokered the $18.2 million sale of a 50,400-square-foot industrial building in the Central New Jersey community of Edison. The building at 80 Executive Ave. was completed in 2020 and features a clear height of 32 feet, five dock doors, (expandable to eight), one drive-in door and 3,000 square feet of office space, as well as parking for 25 cars and six trailers. Robert J. DiLeo, Kyle Gerace, Robert V. DiLeo and Chris Chiusolo of NAI DiLeo-Bram brokered the deal. The buyer and seller were both limited liability companies.
LYNBROOK, N.Y. — Cushman & Wakefield has brokered the $36 million sale of Cornerstone Yorkshire, an 80-unit apartment building in Lynbrook, located on Long Island. The property offers studio, one- and two-bedroom units and amenities such as a fitness center, resident lounge and a landscaped courtyard. Niko Nicolaou, Ryan Dowd, David Bernhuat, Daniel Abbondandolo, Joegy Raju, Peter Welch, J.P. Hohl and Alexandria Ebers of Cushman & Wakefield represented the seller, The Birch Group, in the transaction and procured the undisclosed buyer.
NEW YORK CITY — Pandora Jewelry has signed a 55,872-square-foot office lease expansion and extension in Midtown Manhattan. The deal doubles Pandora’s existing footprint at 1540 Broadway via a new lease for the entire 34th floor. Dan Posy of JLL represented the tenant in the lease negotiations. Clark Finney, Frank Doyle, Carlee Palmer and Michael Pallas, also with JLL, along with internal agent Allen Gurevich, represented the landlord, GFP Real Estate, which owns the building in partnership with BDT & MSD Partners.
NEW YORK CITY — Marcus & Millichap has brokered the $7.7 million sale of a 15-unit apartment building in Manhattan’s Lower East Side. The newly renovated building at 259 E. Broadway exclusively offers two-bedroom units, seven of which are subject to income restrictions, and includes a ground-floor commercial space. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller, R.A. Cohen & Associates, in the transaction and procured the buyer, a private out-of-state investor.
NEW YORK CITY — Texas-based hedge fund operator SummitTX Capital has signed a 17,778-square-foot office lease in Manhattan’s Plaza District. The lease term is 11 years, and the space spans the entire 19th floor of the 22-story, 380,000-square-foot building at 560 Lexington Ave. Cushman & Wakefield represented the tenant in the lease negotiations. Peter Turchin, Brett Shannon, Eric Deutsch, Jacob Rosenthal and Lauren Le of CBRE, along with internal agent Kevin Daly, represented the landlord, Rudin.
WHITE PLAINS, N.Y. — TKF Burnside Real Estate Partners has purchased a 400,000-square-foot office building in White Plains, located north of New York City. The building at 360 Hamilton Ave. is located in the downtown area and is home to tenants such as Merrill Lynch, Heineken USA, Bank of America and Skadden, Arps, Slate, Meagher & Flom LLP. Kevin Welsh and Charles Han of Newmark represented the undisclosed seller in the transaction. The buyer, which plans to implement capital improvements, was self-represented.
NEW YORK CITY — Local brokerage firm Ariel Property Advisors has arranged the $25.5 million sale of commercial development site in the Mott Haven area of The Bronx. The site at 261 Walton Ave. spans 25,182 square feet and can support up to 181,000 square feet of buildable product. Jason Gold, Victor Sozio and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was Zeta Charter Schools.
NEW YORK CITY — Soloviev Group has received a $1.8 billion CMBS loan to refinance 9 West 57th Street, a 1.7 million-square-foot office tower located in Manhattan’s Plaza District. Bank of America, along with Wells Fargo and Citi Real Estate Funding, provided the loan, which carries a 4.9 percent interest rate. Proceeds of the five-year loan will retire a previous 10-year, $1.2 billion loan issued by JPMorgan Chase in 2016, with more than $500 million returning to Soloviev. “This refinancing is a clear validation of the strength of 9 West 57th Street and the collaborative success of lead lender Bank of America, and secondary leads Wells Fargo and Citibank,” says Stefan Soloviev, chairman of Soloviev Group. Soloviev Group’s 50-story flagship trophy tower, known as the Solow Building, is expected to achieve a market valuation of $3.9 billion upon stabilization, according to Soloviev Group. Designed by Skidmore, Owings & Merrill and delivered in 1974, the building recently underwent capital improvements to the lobby, elevators and building system technology. Ownership has also introduced a new 20,000-square foot amenity floor, that includes Central Park views, conference rooms, multi-functional meeting space, a grab-and-go coffee bar, executive dining and a hospitality area. The property’s long-term tenants …
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