WHITE PLAINS, N.Y. — Merchants Capital has provided $138.5 million in financing for a 296-unit multifamily project in White Plains, located north of New York City. The financing consists of a $120.5 million construction loan from Merchants Bank and an $18 million revolving loan fund from the New York State Homes and Community Renewal’s Housing Acceleration Fund (HAF) program. Known as North White Plains Workforce Transit Hub, the project will comprise two six-story buildings that will house studio, one- and two-bedroom units. Of the 296 residences, 266 will be rented at market rates, and 30 will be reserved for households earning between 50 and 110 percent of the area median income. Amenities will include a fitness center, resident lounge and a coworking/event space, and the development will also feature onsite retail space, a parking garage and a 15,000-square-foot public park. BRP Cos. is leading development of the project, construction of which is underway and expected to be complete in mid-2029.
ALBANY, N.Y. — Regional brokerage Adirondack Capital Partners (ACP) has arranged the $10.1 million sale of Omni Plaza, a 415,000-square-foot office complex in Albany. Located in the state capital’s downtown area, Omni Plaza consists of two interconnected buildings that total 236,000 and 179,000 square feet, respectively. Michael Hunter Coghill and Jacob Brenner of Adirondack Capital Partners represented the seller, Omni Development, in the transaction, and procured the buyer, Jankow Cos. The new ownership plans to invest in capital improvements to the larger building at 30 S. Pearl St. and to convert the other building at 54 State St. into a 120-unit apartment complex.
NEW YORK CITY — Via Transportation has signed a 55,066-square-foot office lease in Midtown Manhattan. The provider of software for public transportation networks will occupy the entire 25th and 26th floors at 2 Park Avenue, a 1.2 million-square-foot building that recently underwent capital improvements. Erik Schmall and Allyson Bowen of Savills represented the tenant in the lease negotiations. Mitch Konsker, Cynthia Wasserberger, Kristen Morgan and Michael Pallas, also with JLL, along with internal agent Franco Rauseo, represented the landlord, an affiliate of fashion company Haddad Brands.
NEW YORK CITY — Altana has signed a 10-year, 62,309-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of AI-driven trade and supply chain management solutions will establish its new headquarters office across the entire 21st floor of PENN 2. Sam Seiler of CBRE and Joseph Sipala of JLL represented Altana in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.
NEW YORK CITY — Veeva has signed a 62,223-square-foot office lease at The PENN District, a two-building, 4.4 million-square-foot development in Midtown Manhattan. The provider of cloud software, AI, data and consulting services for the life sciences industry will occupy the entire 11th floor of PENN 2 on a 12-year lease. Jim Wenk and Kirill Azovtsev of Savills represented Veeva in the lease negotiations. The landlord, Vornado Realty Trust, was self-represented.
NEW YORK CITY — JLL has provided a $69.5 million Freddie Mac loan for the refinancing of 100 Jane, a 148-unit apartment building in Manhattan’s West Village. Constructed in 1996, the nine-story building comprises 117 market-rate units, 30 affordable housing units and one superintendent unit. The property was fully occupied at the time of the loan closing. According to Apartments.com, 100 Jane exclusively offers studio floor plans. Amenities include a fitness center, sundeck and onsite laundry facilities. Geoff Goldstein, Steven Klein and Michael Shmuely of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Rockrose Development.
NEW YORK CITY — A partnership between two locally based owner-operators, Olmstead Properties and Vertex, has purchased 19 West 44th Street, a 302,000-square-foot office building in Midtown Manhattan. The 18-story building was 79 percent leased at the time of sale and recently received capital improvements to building systems, common areas and prebuilt suites. Tenants include Yipit, HARMAN International, Robert Derector, Corporate Service Corp., EOS Products and Bitwise. Will Silverman of Eastdil Secured Savills represented the seller, Savanna, in the transaction. Derby Lane Capital provided acquisition financing for the deal.
NEW YORK CITY — Ameriprise Financial Inc. has signed a 37,704-square-foot office lease renewal in Lower Manhattan. The financial advisory firm will keep its space on the 78th floor of One World Trade Center, where it has been a tenant since 2016, for another decade. Josh Kurlioff, Drew Braver, Heather Thomas and Nicole Estevez of Cushman & Wakefield represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Hal Stein, Nathan Kropp and Paige Raisides of Newmark, along with internal agents Eric Engelhardt, Karen Rose and Sayo Kamara, represented the landlord, The Durst Organization, which developed the property in partnership with the Port Authority of New York & New Jersey.
NEW YORK CITY — Regional brokerage firm Atlantic Capital Partners (ACP) has negotiated the $31 million sale of 893 Broadway, a 25,442-square-foot office and retail building in Manhattan’s Flatiron District. The five-story building was fully leased at the time of sale. Mattress retailer Saatva occupies the lower-level and ground-floor retail spaces, and Chief, a private network for female executives, occupies the office space on floors two through five. Justin Smith, Chris Peterson, Sam Koonce and Danielle Turpin of ACP represented the undisclosed seller in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the $10.3 million sale of a 9,200-square-foot industrial building in The Bronx. The building at 935 Garrison Ave. is located within a Qualified Opportunity Zone and was fully vacant at the time of sale. According to LoopNet Inc., the building was constructed in 1949 and features a clear height of 16 feet, as well as both dock-high and grade-level doors. Jakub Nowak, Steven Siegel and Michael Maldonado of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties requested anonymity.
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