NEW YORK CITY — Steadfast Financial LP has signed a 21,640-square-foot office lease renewal in Midtown Manhattan. The investment advisory firm will continue to occupy the entire 20th and 21st floors at 450 Park Avenue, a 33-story building that was originally constructed in 1972. Ben Friedland and Taylor Scheinman of CBRE represented the tenant in the lease negotiations. The landlord, SL Green, was self-represented.
NEW YORK CITY — Locally based developer Naftali Group, along with Access Real Estate, the real estate investment arm of Access Industries, has secured $374 million in refinancing for Phase I of Williamsburg Wharf, an 850-unit multifamily project under development in Brooklyn. Upon completion, Williamsburg Wharf will comprise five 22-story luxury towers consisting of 850 residences, with a mix of condos and rental homes. The property will span approximately 1 million square feet. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Dustin Stolly, Sean Reimer, Ari Hirt and Stanley Cayre of Walker & Dunlop arranged the financing through Barings to refinance Two, Three and Four Williamsburg Wharf. Since opening last summer, more than 90 percent of the roughly 500 apartments are leased. One Williamsburg Wharf, the project’s condominium component, has also welcomed residents. “Williamsburg Wharf offers truly unprecedented waterfront living in New York City, and we’re thrilled to see our vision come to life and how quickly renters and buyers have embraced it,” says Miki Naftali, CEO and chairman of Naftali Group. “We remain incredibly optimistic about the long-term future of this development and our role in the continued evolution of the Williamsburg waterfront.” Each building offers private entrances and …
NEW YORK CITY — The Dermot Co., a locally based owner-operator, has received a $355 million loan for the refinancing of 21 West End Avenue, a 616-unit apartment tower on Manhattan’s Upper West Side. Dermot completed the 48-story building, which includes 127 affordable housing units, in 2016. Residences come in studio, one-, two- and three-bedroom floor plans, and amenities include an indoor pool, fitness center, resident lounge, game room, rooftop terrace, children’s playroom and a pet run. Mizuho Americas provided the financing, specific terms of which were not disclosed.
NEW YORK CITY — Latham & Watkins has signed an 11-year 131,000-square-foot office lease expansion in Midtown Manhattan. The law firm now occupies 251,000 square feet at 1285 Avenue of the Americas. Scott Gamber, Craig Reicher and Emily Chabrier of CBRE represented the tenant in the lease negotiations. Robert Alexander, Ryan Alexander, Taylor Callaghan, Alexander Benisatto and Walter Graham of CBRE, along with Patrick Murphy of JLL and internal agents William Elder and Daniel Birney, represented the landlord, RXR.
NEW YORK CITY — Chimera Investment Corp. has signed a 15-year, 22,000-square-foot office lease in Midtown Manhattan. The local REIT is relocating from a 15,000-square-foot space at 630 Fifth Avenue to the entire 32nd and parts of the 33rd and 34th floors at 1 Rockefeller Plaza, a 34-story building that was originally constructed in 1936. Conor Denihan and Connor DeSimone of CBRE represented the tenant in the lease negotiations. Blythe Kinsler and Kate Walker internally represented the landlord, Tishman Speyer.
NEW YORK CITY — Woori Bank New York Agency, a Korea-based entity,has signed a 20-year, 18,553-square-foot office lease in Midtown Manhattan. The space spans the entire 38th floor at 1540 Broadway. Charles Han and Douglas Levine of Newmark represented the tenant in the lease negotiations. Clark Finney, Frank Doyle, Carlee Palmer and Michael Pallas of 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 — 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.
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.
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