New York

GFP Receives $86.5M Loan for Refinancing of Midtown Manhattan Office Building

by Taylor Williams March 17, 2026

NEW YORK CITY — Local owner-operator GFP Real Estate has received an $86.5 million loan for the refinancing of 515 Madison Avenue, a 42-story office building in Midtown Manhattan. Originally constructed in 1932, the 350,000-square-foot structure is known locally as the DuMont Building, a name that references the building’s role in the first television broadcasts of Allen DuMont’s experimental station W2XWV in 1938. Today, the building is home to tenants such as Encore Physical Therapy, Longacre Asset Management and GFP Real Estate itself. Paul Talbot of Newmark arranged the 10-year, floating-rate loan, which retires a $120 million loan that was originated in 2012 and had a balance of $81 million, through Apple Bank.

March 17, 2026

Development Multifamily New York Northeast

Partnership Begins Leasing 187-Unit Multifamily Project in Brooklyn

by Taylor Williams March 16, 2026

NEW YORK CITY — A partnership between Ailanthus, BEB Capital and SK Development has begun leasing One Sunset, a 187-unit multifamily project in Brooklyn’s Sunset Park neighborhood. Designed by dencityworks | architecture with interiors by Alchemy Studio, the 14-story building offers one-, two- and three-bedroom floor plans, with 46 units reserved as affordable housing. Amenities include a fitness center, game/media room, coworking lounge, private dining/entertainment areas and a rooftop terrace. Corcoran New Development is leading the residential leasing efforts. Rents start at roughly $3,200 per month for a one-bedroom apartment.

March 16, 2026

Development Hospitality New York Northeast

Emerson Hospitality Underway on Hotel Redevelopment Project in Esopus, New York

by Taylor Williams March 16, 2026

ESOPUS, N.Y. — Emerson Hospitality is underway on a hotel redevelopment project in Esopus, located roughly midway between New York City and Albany. The project will convert Black Creek Barns, a historic 153-acre estate, into a 70-room hotel and resort via the restoration of six historic structures and construction of new cabins and suites. Amenities will include a 7,000-square-foot indoor event hall, a 9,000-square-foot craft and design hall, a pool, wellness center and two dining venues. Institutional Property Advisors, a division of Marcus & Millichap, arranged $38 million in construction financing, including $19 million in C-PACE debt, for the project, which is slated for a late-2027 completion.

March 16, 2026

Acquisitions New York Northeast Office Retail

Newmark Brokers Sale of 32,400 SF Office, Retail Building in Manhattan’s SoHo District

by Taylor Williams March 16, 2026

NEW YORK CITY — Newmark has brokered the sale of a 32,400-square-foot office and retail building in Manhattan’s SoHo district. The landmark five-story building at 61–63 Crosby St. was fully leased at the time of sale to office users such as Comcast Ventures, Aptos Labs and SISTER Group. Patagonia’s New York City flagship store anchors the building’s retail component. The buyer was local investment firm Vertex, and the seller was undisclosed. Adam Spies, Adam Doneger, Josh King, Marcella Fasulo and Meaghan Philbin of Newmark brokered the deal.

March 16, 2026

Development Multifamily New York Northeast

BLDG Management Begins Leasing 70-Story Apartment Tower in Queens

by Taylor Williams March 13, 2026

NEW YORK CITY — BLDG Management Co. has begun leasing The Orchard, a 70-story apartment tower located in the Long Island City neighborhood of Queens. The Orchard houses 824 units, including 576 market-rate apartments, 248 affordable housing units and a penthouse with a rooftop deck, as well as 13,000 square feet of above-grade retail space. The development also features 100,000 square feet of amenity space. Specific amenities include a fitness center, indoor and outdoor pools, a spa with a steam room and sauna, basketball court, multi-sport simulator, lounge areas, a children’s playroom, game room, movie screening rooms, work pods, a dog spa and a package room with refrigerated storage. The Orchard also features a “backyard” with an apple orchard, three pickleball courts, an outdoor screening area. Perkins Eastman designed The Orchard, and Triton Construction served as the general contractor. Construction began in summer 2023, and the first move-ins are now underway. Monthly rents start in the mid-$3000s for a one-bedroom apartment.

March 13, 2026

Acquisitions Development New York Northeast

GFI Realty Arranges $38M Sale of Manhattan Commercial Development Site

by Taylor Williams March 13, 2026

NEW YORK CITY — Local brokerage firm GFI Realty has arranged the $38 million sale of a commercial development site in Manhattan’s Kips Bay neighborhood. The site is an assemblage of parcels at 563–571 Second Ave. and 247–251 East 31st St., which can collectively support 88,000 square feet of buildable product. The Marchi Family sold the acreage to Empire Development. Leah Balkany and Michael Weiser of GFI Realty brokered the deal.

March 13, 2026

Loans Multifamily New York Northeast

Ariel Property Advisors Arranges $12M Loan for Refinancing of Queens Multifamily Portfolio

by Taylor Williams March 12, 2026

NEW YORK CITY — Ariel Property Advisors has arranged a $12 million loan for the refinancing of a portfolio of three multifamily buildings totaling 60 units in Queens. The addresses of the buildings, which are located in the borough’s Sunnyside neighborhood, were not disclosed. Matthew Dzbanek and Matt Swerdlow of Ariel arranged the five-year loan, which was structured with at 65 percent loan-to-value ratio and two years of interest-only payments. The undisclosed borrower will use a portion of the proceeds to complete renovations that are already underway.

March 12, 2026

Loans Multifamily New York Northeast

JLL Provides $125.5M Agency Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams March 11, 2026

NEW YORK CITY — JLL has provided a $125.5 million Freddie Mac loan for the refinancing of Union Channel, a 224-unit apartment building located in the Gowanus area of Brooklyn. Designed by Fogarty Finger Architecture, the building is the first of four within the Gowanus Wharf development and also houses 22,226 square feet of retail space. Units come in studio, one-, two- and three-bedroom floor plans, with 25 percent of residences reserved as affordable housing. Amenities include a rooftop pool and sundeck, fitness center with a yoga studio and a coworking lounge. Christopher Peck, Peter Rotchford, Nicco Lupo and Michael Shmuely of JLL originated the seven-year, fixed-rate loan on behalf of the borrower, a partnership between Charney Cos., Tavros and Canyon Partners Real Estate.

March 11, 2026

Loans Multifamily New Jersey New York Northeast Seniors Housing

Partnership Receives $48M Loan for Refinancing of Tri-State Seniors Housing Communities

by Taylor Williams March 11, 2026

NEW CITY, N.Y. AND WASHINGTON TOWNSHIP, N.J. — A partnership between Bain Capital Real Estate and Capitol Seniors Housing has received a $48 million loan for the refinancing of two seniors housing communities in the Tri-State area. The communities include The Chelsea at New City, located about 40 miles north of New York City, and The Chelsea at Washington Township, about 75 miles west of New York City. The properties were built in 2021 and 2023, respectively, and both offer memory care and assisted living services, as well as various onsite amenities. JLL arranged the three-year, floating-rate loan through an undisclosed regional bank on behalf of the partnership.

March 11, 2026

Loans Multifamily New York Northeast

JLL Arranges $16.4M Loan for Refinancing of Brooklyn Multifamily Property

by Taylor Williams March 10, 2026

NEW YORK CITY — JLL has arranged a $16.4 million loan for the refinancing of CIRRUS, a 46-unit multifamily property in Brooklyn’s Prospect Lefferts Gardens neighborhood that was completed in 2024. Designed by AB Architekten with interiors by SR Projects, CIRRUS offers studio and one-bedroom apartments and amenities such as a fitness studio, coworking lounge, package room and a sky lounge with grills, a wet bar and dining areas. Aaron Niedermayer, Robert Tonnessen and John Flynn of JLL arranged the loan on behalf of the owner, New York City-based developer Astral Weeks. The direct lender was not disclosed.

March 10, 2026

Newer Posts

Older Posts