HICKSVILLE, N.Y. — The Community Preservation Corp. (CPC), a nonprofit, multifamily finance company, has provided a $7.5 million construction loan for a 20-unit project in Hicksville, located on Long Island. The building will be located at 33-37 Cherry St. in the downtown area, just three blocks from the LIRR Hicksville Station, where a $300 million modernization is nearing completion. The building, which is slated for a spring 2027 delivery, will include three permanently affordable units and offer amenities such as a fitness center and a coworking lounge. The borrower is an entity doing business as Premerio Cherry LLC.
NEW YORK CITY — Cerity Partners has signed an office lease expansion in Midtown Manhattan. The wealth management and financial advisory firm currently subleases space on the 16th floor of 99 Park Avenue, a 26-story, 600,000-square-foot building. In 2027, Cerity Partners will transition to direct tenancy and expand its footprint to 48,671 square feet, inclusive of the entire 15th floor. Nicholas Dysenchuk and Rob Lowe of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.
NEW ROCHELLE, N.Y. — AANDAR Real Estate Capital, a boutique capital advisory firm based in New Jersey, has arranged the $145.3 million refinancing of The Alary, a 315-unit apartment building in New Rochelle, located north of New York City. The financing consists of a $125.8 million senior bridge loan from Greystone and a $19.5 million preferred equity investment from Forum Investment Group. Developed by Allstate Ventures and completed last year, The Alary offers studio, one- and two-bedroom units. Indoor amenities include a fitness center, coworking spaces with private pods and conference rooms, a game room with a wet bar, sports simulator, children’s playroom and a sky lounge with a full-service bar. Outside, residents have access to a rooftop area with a pool, outdoor cinema, barbecue kitchens, fire pits and a dog park. Shaya Sonnenschein and Michael Weisz led the transaction for AANDAR.
NEW YORK CITY — ING Americas has signed a 30,783-square-foot office lease expansion at 1133 Avenue of the Americas in Manhattan. The affiliate of Dutch banking giant ING Group now occupies 153,915 square feet across five floors at the 1.1 million-square-foot building. Robert Stillman, Michael Geoghgan, Ryan Alexander, Paul Stimpfle, Harly Stevens and Marlee Teplitzky of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization.
CHAPPAQUA, N.Y. — CBRE has negotiated the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center located in New York’s Westchester County that is part of the redevelopment of the 114-acre former Reader’s Digest headquarters campus. Tenants at the center include anchors Whole Foods Market and Life Time Fitness, as well as Starbucks and Chase Bank. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Heitman, in the transaction and procured Barings as the buyer.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7 million sale of a 9,500-square-foot multifamily development site in The Bronx. The site at 114 Bruckner Ave. is located in the borough’s Mott Haven neighborhood and can support 68,400 buildable square feet of new development via eligibility for the City of Yes program. Jason Gold and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — The Fortune Society has signed a 31-year, 91,461-square-foot office lease renewal and expansion in the Long Island City area of Queens. The nonprofit organization that supports ex-convicts now occupies the entire 40,429-square-foot second floor, 37,469 square feet on the ground floor and 13,564 square feet on the lower level of the building at 29-76 Northern Blvd. Carri Lyon, David Lebenstein, Jared Thal and Nick Chin of Cushman & Wakefield represented the tenant in the lease negotiations.
NEW YORK CITY — BWE, a Cleveland-based commercial finance firm, has arranged two loans totaling $120 million for the refinancing of a pair of Marriott-branded hotels in the New York City. The financing consisted of $90 million for the 357-room Residence Inn Times Square hotel in Midtown Manhattan and $30 million for the 160-room Courtyard by Marriott Long Island City in Queens. Steve Perricone of BWE arranged the loans, both of which were structured with 15-year terms and 15-year amortization schedules. The name(s) of the direct lenders, as well as the regional hospitality investor that owns the properties, were not disclosed.
POUGHKEEPSIE, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged $11.5 million in financing for Poughkeepsie Plaza, a 181,746-square-foot shopping center located north of New York City. Marshalls and TJX/HomeGoods anchor the property, which is also home to tenants such as Sierra Trading Post, Mattress Firm, Famous Footwear, J. Crew, Wendy’s and Chase Bank. Brandon Szwalbenest, Dev Morris and Andrew Stewart of Cronheim arranged the debt on behalf of the borrower, regional owner-operator Mehlich Associates. The direct lender was not disclosed.
NEW YORK CITY — The Moinian Group has received a $310 million loan for the refinancing of 535-545 Fifth Avenue, a two-building office and retail property located near Grand Central Terminal in Midtown Manhattan. Deutsche Bank and Société Générale co-funded the loan, while Drew Anderman, Eddie Haber, AJ Bruno and Jared Fried of CBRE represented The Moinian Group in the debt placement process according to CoStar Group. “This refinancing underscores the value of prime Fifth Avenue assets and our disciplined approach to asset management,” says Joseph Moinian, founder & CEO of The Moinian Group. “We are pleased to secure attractive financing that positions the property for continued long-term success.” Situated between East 44th and East 45th streets, both buildings underwent renovations in 2009, with Gensler serving as the architect. Known for its pre-war architecture, the 36-story structure at 535 Fifth Avenue was originally completed in 1927. Spanning 329,733 square feet, the complex is occupied by several corporations, financial institutions, law firms and service organizations. Located adjacent to the first office building, 545 Fifth Avenue rises 13 stories tall and totals roughly 165,000 square feet of space. The building offers additional ground-floor retail space that houses tenants such as Best Buy and …
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