REBusinessOnline

Sam Chang Breaks Ground on 200-Room Hotel in Manhattan

NEW YORK CITY — Local hotel developer Sam Chang has broken ground on a 200-room hotel that will be located at 223 W. 46th St. near Times Square in Manhattan. Designed by Gene Kaufman Architects, the hotel will span 70,000 square feet and rise 21 stories. Amenities will include a fitness center and a ground-floor restaurant with outdoor seating. Completion of the property, which has yet to be named and branded, is scheduled for September

Mill Creek Begins Leasing 192-Unit Apartment Community on Long Island

MINEOLA, N.Y. — Mill Creek Residential has begun leasing Modera Metro Mineola, a 192-unit apartment community on Long Island. The transit-served property offers studio, one- and two-bedroom units that feature stainless steel appliances, quartz countertops, custom cabinetry, tile backsplashes and key fob entry systems. Indoor amenities include two 24-hour fitness centers with yoga and Pilates studios, two indoor clubhouses with lounges, TVs and resident kitchens, a business center with a …

Exact Capital Completes Renovation of 333 Affordable Housing Units in The Bronx

NEW YORK CITY — Exact Capital, a locally based finance and development firm, has completed the renovation and preservation of 333 affordable housing units spread across 19 buildings in The Bronx. As part of the project, the developer also renovated four retail spaces located within those properties, all of which rise between two and seven stories. Exact Capital partnered with Shepherd Restoration Corp. on the project, which enhanced roofs, refreshed common areas and upgraded kitchens and …

Douglas Development Buys Regional Mall Near Buffalo for $30.5M

AMHERST, N.Y. — Douglas Development Co. has purchased Boulevard Mall, a 961,800-square-foot shopping and dining destination in the Buffalo suburb of Amherst, for $30.5 million. The property was originally built in 1962 and is situated on 64 acres. The mall was renovated in 2000 and is now anchored by tenants such as Dick’s Sporting Goods and Macy’s. Jose Cruz, Kevin O’Hearn, Claudia Steeb, Michael Oliver and Ryan Robertson of JLL handled the transaction in conjunction with Ten-X on …

Partnership to Develop 315-Unit Multifamily Project in Queens

NEW YORK CITY — A partnership between Shorewood Real Estate Group, Bridge Investments LLC and Capricorn Investment Group LLC will develop a 315-unit multifamily project in the Jamaica neighborhood of Queens. The property will be located within an Opportunity Zone. A construction timeline has not yet been

Cushman & Wakefield Negotiates Sale of $25M Warehouse Property in Queens

NEW YORK CITY — Cushman & Wakefield has negotiated the $25 million sale of a 52,000-square-foot warehouse property in the Long Island City neighborhood of Queens. Cushman & Wakefield’s Stephen Preuss, Joshua King and Andreas Efthymiou represented the buyer, California-based investment trust Alexandria Real Estate Equities Inc., which plans to convert the warehouse into a research and development office with lab space. The seller was Prestone Realty LLC, which has occupied the …

Consulate General of Japan Signs 58,000 SF Lease Extension at 299 Park Avenue in Manhattan

NEW YORK CITY — The Consulate General of Japan has signed a 58,000-square-foot lease extension at the Plaza District tower owned by Fisher Brothers in Manhattan. The lease extension will keep the consulate at 299 Park Ave. until 2036. The office provides protection to Japanese nationals within the United States and promotes trade and investment with Japan. Fisher Brothers, which constructed the building in 1967, is set to initiate a capital improvement program to upgrade the lobby and …

Harbor Group, Image Capital Acquire Multifamily Asset in Brooklyn for $117M

NEW YORK CITY — A partnership between privately owned investment firm Harbor Group International and Image Capital LLC has acquired The Frederick, a multifamily property in Brooklyn, for $117 million. The Class A property, which was built in 2017, offers 193 units equipped with high-end kitchens and appliances. Amenities include a fitness center and tenant lounge. The Frederick is located near Prospect Park, as well as several mass transit lines and retail options. Westwood Realty Associates …

Marketing Firm Signs 960,000 SF Office Lease Renewal, Expansion in Manhattan

NEW YORK CITY — Publicis Group, a French marketing, advertising and public relations firm, has signed a lease renewal and expansion at 375 Hudson Street in Manhattan. The firm is renewing its original 680,000-square-foot lease, which is set to expire in 2023, and taking on an additional 280,000 square feet. The new lease term is 20 years, and the firm will take occupancy of the expanded space in August. Tishman Speyer owns 375 Hudson, which was built in 1987 and spans a full city block from …

Camber, Belveron Acquire Multifamily Property in The Bronx for $77M

NEW YORK CITY — A partnership between two local investment firms, Camber Property Group and California-based Belveron Partners, has acquired Highbridge House, a 400-unit multifamily property in The Bronx, for $77 million. The property is located at 113 Ogden Ave. and originally opened in 1972. The new ownership plans to convert the property into an affordable housing complex and invest $3 million in capital improvements to the building’s elevator and utility systems. Aaron Jungreis of …

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