LYNBROOK, N.Y. — Regional brokerage and debt advisory firm BlueGate Partners has arranged $104 million in financing of The Langdon, a newly built, 201-unit apartment complex located in the Long Island community of Lynbrook. Located at 47 Broadway, The Langdon is a redevelopment of the former Mangrove Feather factory and consists of 55 studios, 111 one-bedroom units and 35 two-bedroom apartments, as well as 2,000 square feet of ground-floor retail space. Amenities include a lobby café, concierge services, rooftop terrace with skyline views, landscaped courtyard, resident lounge with billiards, a fitness center and work-from-home stations. Lee Spiegelman, Mark DeLillo, Marc Schulder, Felipe Marin and Brian Bernier of BlueGate arranged the debt on behalf of the owner, a partnership between Breslin Realty Development Corp. and Fields Grade Development. The direct lender was not disclosed.
New York
NEW YORK CITY — Gilbane Development will build a 266-unit affordable housing project in The Bronx. Designed by Aufgang Architects and developed on the site of a former parking lot, 860 Concourse Village East will be a two-building project with 148 studios, 60 one-bedroom units, 47 two-bedroom residences and 11 three-bedroom apartments. Information on rent restrictions was not disclosed. Amenities will include a fitness center, laundry and package rooms, recreational lounge, an outdoor courtyard and a social services suite with offices and a conference room. The project will also feature a 7,818-square-foot commercial space that will be occupied by the Institute for Community Living. Construction is scheduled to begin next year and to be complete sometime in 2027.
NEW YORK CITY — Law firm Rottenstreich Farley Bronstein Fisher Potter & Hodas LLP has signed an 18,820-square-foot office lease at 500 Park Avenue in Midtown Manhattan. The space spans the entire eighth floor of the 201,000-square-foot building, which is also home to tenants such as Vera Wang, Tom Ford Fashion and The Georgetown Co. Benjamin Blumenthal and Ralph Chattah of Noah & Co. represented the law firm in the lease negotiations. The landlord, SL Green, was self-represented.
NEW YORK CITY — Ha Kibbutz will open a 17,610-square-foot coworking space at 151 W. 26th St. in Midtown Manhattan. The lease term is 16 years, three months. The space will span the entire sixth floor of the 12-story, 197,336-square-foot building, which was originally constructed in 1912, and will be built out over the next few months. Max Koeppel represented the landlord, Koeppel Rosen, in the lease negotiations on an internal basis. Eric Siegel of LSL Advisors represented Ha Kibbutz.
NEW YORK CITY — Vertical Community Development (VCD) will develop a 180-unit affordable seniors housing project at1810 Randall Ave. in The Bronx. Designed by Aufgang Architects, the eight-story building will offer 157 studios, 22 one-bedroom units and a single two-bedroom unit. Information on age and rent restrictions was not disclosed. Amenities will include a fitness center, indoor and outdoor recreational spaces and social support services, and the building will also house church facilities on its ground floor. Construction is scheduled to begin next year and to be complete sometime in 2027.
NEW YORK CITY — CBRE has negotiated a 17-year, 128,749-square-foot office lease renewal and expansion at 55 Water Street, a 4 million-square-foot complex in Lower Manhattan. The tenant, financial services provider GFI Group Inc., has renewed its lease for 63,756 square feet across the entire 10th floor and committed to an additional 64,993 square feet across the entire 11th floor. Howard Fiddle, Bradley Gerla, Evan Haskell and William Hooks of CBRE represented the owner, New Water Street Corp., in the lease negotiations. Jared Horowitz and Hal Stein of Newmark represented GFI Group, which has been a tenant at the complex since 2007.
NEW YORK CITY — Electra USA has signed a 10-year, 25,331-square-foot office lease in Midtown Manhattan. The electrical contractor will occupy the entire fourth and 31st floors at 10 E. 53rd St., a 37-story building that recently underwent a capital improvement program that upgraded the lobby, façade and outdoor plazas. Joseph Cirone, Patrick Dugan and Zachary Price of CBRE represented the tenant in the lease negotiations. The landlord, SL Green, was self-represented.
NEW YORK CITY — Walker & Dunlop has arranged a $285 million loan for the refinancing of Greenpoint Central, a newly constructed, 473-unit multifamily property located in the Brooklyn neighborhood of the same name. TPG Real Estate Credit provided the loan to the borrower and developer, an affiliate of New York City-based Madison Realty Capital. Sean Reimer, Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly, Ari Hirt, Cole Grims and Nicholas Gilhooley of Walker & Dunlop arranged the debt. Ownership will use proceeds to retire construction debt, support funding reserves and return equity to investors. Greenpoint Central is split between two buildings located at 75 Dupont St. (Phase I) and 65 Dupont St. (Phase II). The property offers studio, one- and two-bedroom apartments, 70 percent of which are rented at market rates and 30 percent of which are subject to income restrictions. Amenities include a fitness center, media lounge, game room, coworking space, golf simulator, children’s playroom, pickleball court and a rooftop deck with grilling and dining stations. The property also features 19,589 square feet of retail space on the ground and cellar floors. “The area’s evolving waterfront, cultural institutions and creative community continue to attract renters, creating sustained demand in the …
NEW YORK CITY — Marcus & Millichap has negotiated the sale of two multifamily development sites in Brooklyn. The combined sales price was $11.7 million. The adjoining sites at 2425 and 2413 Atlantic Ave. are located in the Ocean Hill neighborhood and offer a total of roughly 142,000 buildable square feet. Matthew Peters of Marcus & Millichap represented the sellers in the transactions and procured the buyer, a local private investor. All parties requested anonymity.
SYRACUSE, N.Y. — The Community Preservation Corp. (CPC) has provided a $4.5 million construction loan for a multifamily conversion project in Syracuse. The project will transform the former William Howard Taft School in the city’s Eastwood neighborhood, which opened in 1907 and closed in 1964, into a 28-unit rental complex. The unit mix will comprise six one-bedroom residences and 22 two-bedroom apartments. The developer is Skinner Properties.
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