New York

The-Arbor-Bronx

NEW YORK CITY — Locally based owner-operator Fetner Properties has completed the renovation of The Arbor, a 127-unit apartment complex in The Bronx. The Arbor, which was originally constructed in 2006 in the borough’s Riverdale neighborhood, consists of two nine-story buildings that house one-, two-, three- and four-bedroom units. Post-renovation, residences feature stainless steel appliances and in-unit washers and dryers, as well as new kitchen counters, cabinets, backsplashes and fixtures. Fetner also reimagined the building’s lobby and upgraded amenity spaces, which include a fitness center, resident lounge, children’s playroom and a courtyard.

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HORSEHEADS, N.Y. — New York-based investment firm United Properties Corp. has purchased Southern Tier Crossing, an 84,000-square-foot shopping center in Horseheads, located in the southern-central part of the state. The sales price was $13.5 million. According to information on the website of Nashville-based brokerage firm Matthews, the center was built in 2008 and is home to tenants such as Burlington, PetSmart, ULTA and Five Below. The seller was not disclosed.

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NEW YORK CITY — Local brokerage firm TerraCRG has arranged the $8.6 million sale of a multi-level retail building in the Williamsburg area of Brooklyn. The building at 76 Ainslie St., which according to LoopNet Inc. was constructed in 1974, totals 9,084 square feet across three levels. Daniel Lebor, Dan Marks and Thomas Horrigan of TerraCRG brokered the deal. The buyer and seller were not disclosed.

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NEW YORK CITY — Marcus & Millichap has brokered the $7.3 million sale of two mixed-use buildings in Manhattan’s Greenwich Village area. Constructed in 1910 and recently renovated, the buildings at 18-20 Christopher St. consist of eight residential units and three commercial spaces. Peter Dodge, Joe Koicim and Paige DeMutis of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Dalan Real Estate.

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NEW YORK CITY — Versant Media Group (Nasdaq: VSNT) has signed a 84,509-square-foot office lease expansion and 18-year extension in Midtown Manhattan. The owner of networks like MS NOW, CNBC, USA Network, Golf Channel, E!, SYFY and Oxygen now occupies 249,054 square feet across six floors at 229 West 43rd Street, a 15-story building that was constructed in 1912 as the home of The New York Times. CBRE represented Versant in the lease negotiations. The landlord, Columbia Property Trust, was self-represented.

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MOUNT VERNON, N.Y. — A partnership between Simone Development Cos. and Stagg Group is nearing completion of Qwest Towers, a $158 million workforce housing project in Mount Vernon, located north of New York City. Qwest Towers will consist of two buildings that will rise 15 and 12 stories and will house a combined 228 residences. The unit mix will comprise 58 studios, 91 one-bedroom units, 78 two-bedroom apartments and one three-bedroom unit, as well as a separate residence for the building superintendent. Information on income restrictions was not disclosed. The first building is scheduled to be complete before the end of the year, with the second to follow a few months later.

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CitySpire-Manhattan

NEW YORK CITY — Affinius Capital has provided an $89 million acquisition loan for CitySpire, a 371,000-square-foot office building in Midtown Manhattan. Built in 1987 and renovated in 2004 and 2022, CitySpire features upgraded elevator systems, wellness lounges, conferencing facilities and coworking space. Christopher Kramer of Newmark arranged the loan. The borrower is a joint venture between A.M. Property Holding Corp., Delshah Capital and REALM.

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The-Marq-Manhattan

NEW YORK CITY — High Street Residential has topped out The Marq, a 25-story apartment building in Manhattan’s SoHo neighborhood. The Marq will offer 99 units, 25 of which will be reserved as affordable housing, as well as 2,072 square feet of retail space. Amenities will include a gym, sauna, meditation room, demonstration kitchen, coworking lounge and a rooftop terrace. Project partners include Marvel Architects, general contractor Leeding Builders Group and interior designer Chris Shao Studio. Completion is slated for late 2027.

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2-South-Main-Port-Chester-New-York

PORT CHESTER, N.Y. — Walker & Dunlop has arranged $147.5 million in construction financing for 2 South Main, a 322-unit multifamily project in Port Chester, located along the New York-Connecticut border. Information on specific floor plans and amenities was not disclosed, but the 12-story building will include 330 parking spaces and 5,000 square feet of retail space. Mo Beler, Jonathan Paine, Cory Elbaum, Jackson Irwin and Dawson Jessee of Walker & Dunlop secured the equity component of the financing via an investment from Related Fund Management. Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Sean Reimer, Jordan Casella, Christopher de Raet and Stanley Cayre of Walker & Dunlop arranged construction debt for the project through Arbor Realty Trust. The sponsor is a joint venture between Hyperion Group, Winter Properties and AIP. LRC Construction is the general contractor for 2 South Main, an expected completion date of which was not announced.

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NEW YORK CITY — The Shubert Organization has signed an 11-year, 14,480-square-foot office lease in Midtown Manhattan. The theater owner-operator is relocating to a new space on the 11th floor of 520 Eighth Avenue, a 26-story, 860,000-square-foot building that was constructed in 1926, where Shubert has been a tenant since 2010. Matthew Mandell of GFP Real Estate represented the landlord in the lease negotiations on an internal basis.

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