New York

Starr Signs 275,000 SF Office Headquarters Lease in Midtown Manhattan

by Taylor Williams January 9, 2026

NEW YORK CITY — Starr has signed a 20-year, 275,000-square-foot office headquarters lease in Midtown Manhattan. The global investment and insurance organization will occupy the entirety of floors 16 through 27 at 343 Madison Avenue, a 46-story, 930,000-square-foot building that is currently under construction. John Picco, Peter Van Duyne and Alex Lachmund of Cushman & Wakefield represented Starr in the lease negotiations. Peter Turchin, John Maher, Evan Haskell and Caroline Merck of CBRE represented the landlord, BXP, formerly known as Boston Properties, which expects to complete 343 Madison Avenue in 2029.

January 9, 2026

Affordable Housing Development Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $19.1M in Financing for Bronx Affordable Housing Project

by Taylor Williams January 9, 2026

NEW YORK CITY — Walker & Dunlop has arranged $19.1 million in financing for Melrose Concourse, a proposed 72-unit affordable housing project in The Bronx. The financing comprises a $6.3 million permanent loan commitment from Freddie Mac and a $12.8 million equity investment. Melrose Concourse will consist of a four-story building with eight units, a nine-story building with 34 apartments and a 10-story building with 30 residences. All units will be reserved for renters earning between 30 and 70 percent of the area median income, and 23 units will be set aside for seniors. John Gilmore and Ethan Waite of Walker & Dunlop led the debt financing process, and the firm’s Diego Benites and Ricky Figueroa led the equity placement efforts. The developer is a joint venture between Settlement Housing Fund and the Beechwood Organization.

January 9, 2026

Development New York Northeast Office Top Stories

Partnership Invests $150M to Redevelop 1540 Broadway Office Tower in Midtown Manhattan

by Abby Cox January 9, 2026

NEW YORK CITY — A partnership between GFP Real Estate and BDT & MSD Partners has invested $150 million to redevelop 1540 Broadway, a 907,000-square-foot office tower in the Times Square area of Midtown Manhattan. The transformation is intended to reframe the original tower, which was completed in 1990 and designed by Skidmore, Owings & Merrill. Renovations are expected to be complete by late 2026. “Our shared vision is to create a workplace that is purposeful, well-crafted and thoughtfully executed, raising expectations for what defines a leading New York City office tower,” says Brian Steinwurtzel, co-CEO and principal of GFP Real Estate. “This is a full reintroduction of the building.” Affiliates of Apollo (NYSE: APO) will provide financing for the project, while GFP Real Estate will oversee operations with BDT & MSD. JLL will serve as the leasing agent for the building. Designed by Fogarty Finger, the renovation will feature extensive interior improvements and the inclusion of more than 45,000 square feet of amenities across two levels of the building. A 27,000-square-foot “amenity hub,” located on the eighth floor, will comprise upgraded wellness facilities, a reimagined fitness center, new locker rooms, a dedicated recovery and movement zone and enhanced communal areas. …

January 9, 2026

Development Loans New York Northeast

Partnership Receives $126M in Financing for Buffalo Affordable Housing Property

by Taylor Williams January 8, 2026

BUFFALO, N.Y. — A partnership between Brookyln-based BFC Partners and local redevelopment organization Buffalo’s Black Billion/St. John Fruit Belt CDC has received $126 million in financing for the revitalization of Towne Garden Apartments. The 360-unit affordable housing property is located in Buffalo’s historic East Side district. The financing includes a $38.7 million subsidy from New York State Homes and Community Renewal (HCR) and a state Low-Income Housing Tax Credit allocation from HCR that will generate $15 million in equity, as well as state and federal historic tax credits. The rehabilitation will bring modern finishes, appliances and systems to residential units, as well as upgrade various utility, security and mechanical systems. The project team also plans to enhance the property’s landscaping and parking and add new amenities, including playgrounds, fitness stations, laundry rooms and a walking track.

January 8, 2026

Loans Multifamily New York Northeast

JLL Arranges $62M Loan for Refinancing of New Jersey, New York Multifamily Portfolio

by Taylor Williams January 8, 2026

MORRISTOWN, N.J. — JLL has arranged a $62 million loan for the refinancing of a portfolio of five multifamily properties totaling 541 units in New Jersey and New York. The New Jersey properties include Spring Gardens Apartments in Summit; Omni Apartments in Bergenfield; Arcadia Court Apartments in Hackensack; and Park Engle Apartments in Englewood. The fifth, unnamed property is located in Montgomery, N.Y. Thomas Didio, Thomas Didio Jr., Gerard Quinn, Michael Mataras and Christian Badalamenti of JLL arranged the loan on behalf of the borrower, Tower Management Service.

January 8, 2026

Acquisitions Multifamily New York Northeast

Carlyle, Z+G Property Buy Brooklyn Apartment Building for $105M

by Taylor Williams January 7, 2026

NEW YORK CITY — Local private equity firm The Carlyle Group, in partnership with operator Z+G Property Group, has purchased a 132-unit apartment building in Brooklyn for $105 million. The 13-story, newly constructed building is located at 130 Second St. in the borough’s Gowanus neighborhood and consists of 99 market-rate apartments and 33 affordable housing units. Amenities include a rooftop terrace with outdoor kitchens, a fitness center and coworking and media lounges, as well as 11,900 square feet of retail space. Ethan Stanton, Jeffrey Julien, Rob Hinckley, Steven Rutman, Brendan Maddigan and Mike Mazzara of JLL represented the seller, a joint venture between Joyland, Meral Property Group and The Loketch Group, in the transaction along with the buyer. Geoff Goldstein and Steven Klein, also with JLL, arranged an $80 million acquisition loan through Invesco Real Estate for the deal.

January 7, 2026

Development Multifamily New York Northeast

Brookstone Begins Leasing 174-Unit Apartment Complex in Brooklyn

by Taylor Williams January 7, 2026

NEW YORK CITY — Brookstone Developers has begun leasing One Nine Rockwell, a 174-unit apartment complex in Brooklyn’s Fort Greene neighborhood. Designed by Daniel Goldner Architects, One Nine Rockwell offers studio, one- and two-bedroom units and amenities such as a library, coworking lounge, fitness center, sky lounge and outdoor grilling and dining stations. About 30 percent (53) of the units are reserved as affordable housing. MNS Real Estate is leasing the property. Rents start at $3,300 per month for a market-rate studio apartment.

January 7, 2026

Leasing Activity New York Northeast Office

Distyl AI Signs 15,038 SF Office Lease in Midtown Manhattan

by Taylor Williams January 7, 2026

NEW YORK CITY — Distyl AI Inc. has signed a 15,038-square-foot office lease in Midtown Manhattan. The developer of AI-native operational systems for Fortune 500 and Global 2000 companies will occupy the entire 10th floor of 135 Madison Avenue, which is also home to tenants such as WeWork, Blender Workspace and FLOS. Max Koeppel represented the landlord, Koeppel Rosen, in the lease negotiations on an internal basis. Savills represented the tenant.

January 7, 2026

Acquisitions New York Northeast Office

SL Green Sells Stake in Midtown Manhattan Office Building to Rockpoint

by Taylor Williams January 6, 2026

NEW YORK CITY — Local real estate giant SL Green (NYSE: SLG) has sold a 49 percent stake in 100 Park Avenue in Midtown Manhattan to Boston-based real estate private equity firm Rockpoint at a gross asset valuation of $425 million. Major tenants at the 36-story, 905,000-square-foot building include Alphasights (192,630 square feet) and Alvarez & Marsal Holdings (220,221 square feet). The building also features a recently renovated amenity center on the second floor that has a lounge, golf simulator, game room, personal training studio and conference rooms. Adam Spies and Doug Harmon of Newmark advised on the transaction.

January 6, 2026

Loans Multifamily New York Northeast

Ariel Property Advisors Places $6.1M Loan for Refinancing of Brooklyn Apartment Buildings

by Taylor Williams January 6, 2026

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has placed a $6.1 million loan for the refinancing of two rent-stabilized apartment buildings totaling 26 units in the Park Slope area of Brooklyn. The buildings include ground-floor retail space. Matthew Dzbanek and Matt Swerdlow of Ariel originated the five-year loan, which carried an interest rate of 5.81 percent, through an undisclosed agency lender. The borrower was also not disclosed.

January 6, 2026

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