Botanic Properties Acquires 97,047 SF Flex Building in Long Island City

LONG ISLAND CITY, N.Y. — Locally based investment firm Botanic Properties has acquired a 97,047-square-foot flex building located at 24-02 Queens Plaza in the Long Island City area of Queens. Apex Technical School has occupied the entirety of the three-story building since 2012. Christopher Peck, Steve Klein and Thomas Pryor of JLL arranged a $24 million fixed-rate acquisition loan through MSD Partners on behalf of the borrower. The seller was not

Retail by MONA Launches Leasing, Advisory Firm in New York City

NEW YORK CITY — Brandon Singer, formerly of Cushman & Wakefield, has launched Retail by MONA, a leasing and advisory firm that will serve New York City. MONA is an acronym for Making of a New Age. The company has strategic partnerships with property owners including Aby Rosen and Michael Fuchs, founders of RFR Holding. Singer will serve as CEO of the new entity, which will offer both tenant and landlord representation services. Michael Cody, also formerly with Cushman & Wakefield, …

UMH Properties Acquires Manufactured Housing Community in New York for $4.5M

FREEHOLD, N.J. — UMH Properties Inc. (NYSE: UMH), a New Jersey-based REIT, has acquired a manufactured housing community in New York for $4.5 million. The 21-acre property offers 163 developed home sites, about 70 percent of which are occupied. The seller was not disclosed. UMH Properties owns and operates 124 manufactured housing communities totaling roughly 23,400 developed home sites across eight

Venture Capital Properties Negotiates 24,000 SF Lease in Brooklyn

NEW YORK CITY — Venture Capital Properties has negotiated a 24,000-square-foot lease at a vacant parcel that formerly housed a warehouse at 5200 1st Ave. in Brooklyn. The tenant, valet parking service Park Pro Systems, will use the property to store its vehicles but will not develop any portion of the site. Jacob Stavsky of Venture Capital Properties represented both Park Pro Systems and landlord John Luhrs in the off-market

Madison International Inks 25,000 SF Office Lease at 300 Park Avenue in Manhattan

NEW YORK CITY — Real estate private equity firm Madison International Realty has signed a 25,000-square-foot office lease at 300 Park Avenue in Manhattan. The company will relocate from a 14,000-square-foot space at 410 Park Avenue in mid-2021. Tishman Speyer owns the 26-story building, which spans 773,056 square feet and was originally built in 1955. Howard Fiddle and Evan Fiddle of CBRE represented the tenant in the lease negotiations. Gregory Conen and Samantha Augarten represented Tishman …

RD Management to Open 1,923 SF Food Hall at Harriman Commons in Woodbury, New York

WOODBURY, N.Y. — Development and management firm RD Management will open a 1,923-square-foot food hall at Harriman Commons, its 706,230-square-foot retail power center in Woodbury, about 55 miles north of New York City. The food hall will also offer a 3,300-square-foot outdoor dining terrace. Anchor tenants at the center include Walmart, Home Depot and Target. An opening date was not

SitusAMC Acquires Cohen Financial’s Servicing, Asset Management Platform

NEW YORK CITY — Real estate advisory and consulting firm SitusAMC Holdings Corp. has acquired the third-party loan servicing and asset management platform of New York City-based Cohen Financial, a division of Truist. Under the terms of the deal, Cohen Financial’s clients and employees will be integrated into SitusAMC. As of August 31, Cohen’s portfolio totaled approximately 6,900 loans with more than $34 billion in unpaid principal balances. SitusAMC will now have a special servicing and …

WSJ: Ascena Retail Group to Sell Plus-Size Chain Catherines to FullBeauty Brands for $40.8M

MAHWAH, N.J. — Ascena Retail Group, the parent company of Ann Taylor and Lane Bryant, will sell its plus-size chain Catherines to FullBeauty Brands Operations LLC for $40.8 million, according to a new report from The Wall Street Journal. FullBeauty Brands is a New York City-based holding company whose brands include plus-size chains such as Woman Within, Jessica London Inc. and Swimsuits for All. Ascena Retail Group filed for Chapter 11 bankruptcy in July with plans to close an unspecified …

NKF Negotiates $40M Sale of Industrial Development Site in Long Island City

LONG ISLAND CITY, N.Y. — Newmark Knight Frank (NKF) has negotiated the $40 million sale of a 196,000-square-foot industrial development site located at 24-02 Queens Plaza in Long Island City. Brian Ezratty and Scott Ellard of NKF represented the seller, Atlas Capital Group, in the transaction. Bill Harvey, also with NKF, represented the undisclosed buyer, which plans to develop a 270,000-square-foot facility on the

Reports: Town Sports International Files for Chapter 11 Bankruptcy, to Close About 200 Gyms

NEW YORK CITY — Town Sports International Holdings Inc. (NASDAQ: CLUB), the parent company of New York Sports Clubs, Boston Sports Clubs and Lucille Roberts gyms, has filed for Chapter 11 bankruptcy, according to reports from multiple new outlets including CNBC and The Wall Street Journal. The company filed its petition in the U.S. Bankruptcy Court in Wilmington, Del. Town Sports, which operates about 200 fitness centers throughout the region, said that it does not plan to permanently close …

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