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Marcus & Millichap Negotiates Sale of 420-Unit Affordable Housing Complex on Long Island

Taylor Williams — Fri, 27 Feb 2026 14:19:45 +0000

HEMPSTEAD, N.Y. — Marcus & Millichap has negotiated the sale of Jackson Terrace Apartments, a 420-unit affordable housing complex located in the Long Island community of Hempstead. The six-story building was originally constructed in 1972. Michael Tuccillo of Marcus & Millichap represented the buyer, an affiliate of Hudson Valley Property Group, in the transaction. The seller was self-represented. The new ownership plans to invest about $23 million to upgrade unit interiors, building exteriors and mechanical/utility systems as a means of preserving long-term affordability.

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Resolution Real Estate Arranges $9.4M Sale of Midtown Manhattan Office, Retail Building

Taylor Williams — Wed, 25 Feb 2026 15:00:00 +0000

NEW YORK CITY — Resolution Real Estate, a member of NAI Global, has arranged the $9.4 million sale of an 18,500-square-foot office and retail building in Midtown Manhattan. The seven-story building at 5 E. 47th St. was completed in 1920 and was vacant at the time of sale. Jonata Dayan and Jeffrey Zund of Resolution Real Estate represented the buyer, Liberty Bagels, which plans to occupy about half the space, in the transaction. David Schectman, Abbe Kassin and Lipa Lieberman of Meridian Capital Group represented the seller, private investor Walter Samuels.

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American Express to Build 2 MSF Global Headquarters at 2 World Trade Center in Lower Manhattan

Kristin Harlow — Wed, 25 Feb 2026 13:00:00 +0000

NEW YORK CITY — American Express (NYSE: AXP) has unveiled plans to build a new global headquarters at 2 World Trade Center in Lower Manhattan. The credit card giant will be the sole owner and occupant of the new building, which is slated for completion in 2031. Spanning nearly 2 million square feet across 55 floors, the tower will have capacity to host up to 10,000 colleagues across flexible and modern workspaces. The project will feature more than an acre of outdoor space with several greenery-filled terraces and gardens that will offer views of the Manhattan skyline. “This is an investment in our company’s future, our colleagues and the Lower Manhattan community, reaffirming our deep commitment to the neighborhood we’ve called home for nearly two centuries,” says Stephen Squeri, chairman and CEO of American Express. Silverstein Properties is the developer, and Foster + Partners is the design architect. Fried Frank advised American Express on the development agreement. The project team is pursuing LEED certification and integrating smart-building technology and fully electric, energy-efficient mechanical systems. Located at 200 Greenwich St., the building will be developed on land owned by The Port Authority of New York and New Jersey (PANYNJ) under a…

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Gantry Arranges $48.3M in Acquisition Financing for Multifamily Portfolio Near Buffalo

Taylor Williams — Tue, 24 Feb 2026 15:12:42 +0000

HAMBURG, N.Y. — San Francisco-based intermediary Gantry has arranged $48.3 million in acquisition financing across three Fannie Mae loans for a portfolio of four multifamily properties totaling 671 units in Hamburg, located just south of Buffalo. The unnamed properties were all built in the 1970s, and the loans were all structured with fixed interest rates. Tom Grzebinski and Zach Wagner of Gantry structured the deal, which involved one loan cross-collateralizing two adjacent properties that will be managed as one community. Walker & Dunlop provided the debt to an undisclosed borrower.

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Truist Provides $66M Construction Loan for Multifamily Project in Port Chester, New York

Taylor Williams — Mon, 23 Feb 2026 14:34:56 +0000

PORT CHESTER, N.Y. — Charlotte-based Truist Bank has provided a $66 million construction loan for a 203-unit multifamily project in Port Chester, located along the New York-Connecticut border. The site is located at 70 Abendroth Road in the downtown area. The six-story building will include roughly 20 affordable housing units that will be reserved for households earning 60 percent or less of the area median income, as well as 10,000 square feet of retail space, a community facility and structured parking. John Alascio and Chuck Kohaut of Cushman & Wakefield arranged the loan on behalf of the developer, Hudson Cos.

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Largo Capital Arranges $43.5M CMBS Loan for Refinancing of Buffalo Industrial Building

Taylor Williams — Fri, 20 Feb 2026 14:30:55 +0000

BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged a $43.5 million CMBS loan for the refinancing of a 323,260-square-foot industrial building in Buffalo. The address was not disclosed. Completed in 2022, the rail-served building features a clear height of 40 feet and was fully leased at the time of the loan closing. Jack Phillips led the transaction for Largo Capital. The borrower and direct lender were also not disclosed.

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NYS AG Signs 378,438 SF Office Lease Expansion, Extension in Lower Manhattan

Taylor Williams — Thu, 19 Feb 2026 14:50:00 +0000

NEW YORK CITY — The New York State Office of the Attorney General (NYS AG) has signed a 378,438-square-foot office lease expansion and extension at 28 Liberty Street, a 60-story, 2.1 million-square-foot building in Lower Manhattan. The deal comprises an extension of the existing 342,484 square feet across floors 13 through 21 and 23, as well as a 35,954-square-foot expansion for the entire 22nd floor. Peter Riguardi, John Wheeler, Mitchell Konsker and Michael Berman of JLL represented the undisclosed landlord in the lease negotiations. The tenant was self-represented.

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Black Diamond Buys 2.3 MSF Palisades Center Mall in West Nyack, New York

Taylor Williams — Tue, 17 Feb 2026 15:37:27 +0000

WEST NYACK, N.Y. — Black Diamond Capital Management, a Connecticut-based alternative investment firm, has purchased Palisades Center, a 2.3 million-square-foot mall in West Nyack, about 35 miles north of New York City. According to the Rockland County Business Journal, Palisades Center sold for $175 million at auction after being originally listed for $463.4 million. According to Wikipedia, the shopping, dining and entertainment destination is the 12th largest U.S. mall by gross leasable area and was first developed by Pyramid Cos., ultimately opening in March 1998. Black Diamond plans to be a long-term owner of Palisades Center and to invest in various capital improvements to attract new users; the Rockland County Business Journal also reports that Palisades Center currently has two vacant anchor spaces that were previously occupied by Lord & Taylor and J.C. Penney. Spinoso Real Estate will operate the property as it has since fall 2024.

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Joint Venture to Develop 213-Unit Affordable Housing Project in Brooklyn

Taylor Williams — Tue, 17 Feb 2026 15:32:31 +0000

NEW YORK CITY — A joint venture between Slate Property Group and Thorobird Cos. will develop a 213-unit multifamily project in Brooklyn. Designed by Think! Architecture + Design PLLC, the building will be located on a city-owned site at 570 Eldert Lane in the borough’s Cypress Hills area. Of the 213 units, 66 apartments, which will come in one-, two-, three- and four-bedroom floor plans, 66 will be set aside for formerly homeless residents. The remaining units will be reserved for households earning between 40 and 80 percent of the area median income. The building will also have 10,000 square feet of community space that will be operated by the Bangladeshi American Community Development & Youth Services. Completion is slated for summer 2028, with full occupancy planned for 2029.

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JLL Brokers $30.7M Sale of Apartment Complex in Port Chester, New York

Taylor Williams — Mon, 16 Feb 2026 14:51:04 +0000

PORT CHESTER, N.Y. — JLL has brokered the $30.7 million sale of an apartment complex at 1 N. Main St. in Port Chester, located along the New York-Connecticut border, that was built in 2022 and includes 7,630 square feet of retail space. According to Apartments.com, the building totals 79 units. Residences come in studio, one- and two-bedroom floor plans. Jose Cruz, Jeffrey Julien, Steve Simonelli and Austin Pierce of JLL represented the seller and original developer, a partnership between an affiliate of G&S Investors and Robert Martin Co., in the deal. The buyer was regional development and investment firm KABR Group.

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Horizon Kinetics Signs 18,713 SF Office Lease at Rockefeller Center in Midtown Manhattan

Taylor Williams — Mon, 16 Feb 2026 14:35:32 +0000

NEW YORK CITY — Horizon Kinetics Asset Management has signed an 18,713-square-foot office lease at Rockefeller Center in Midtown Manhattan. The firm is relocating from 470 Park Avenue South to the 27th floor of the 31-story building at 1270 Avenue of the Americas. Independent broker Marc Miller represented the tenant in the lease negotiations. Blythe Kinsler and Kate Walker internally represented the landlord, Tishman Speyer.

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Partnership to Undertake 254-Unit Affordable Housing Redevelopment in Buffalo

Taylor Williams — Fri, 13 Feb 2026 14:53:25 +0000

BUFFALO, N.Y. — A partnership between Chicago-based developer The Habitat Co., New York City-based investment and advisory firm Duvernay + Brooks and an affiliate of the Buffalo Municipal Housing Authority will undertake a 254-unit affordable housing redevelopment. Known as Marine Drive Apartments, the project represents Phase I of a larger, $600 million redevelopment of Buffalo’s historic waterfront district. The project will replace a seven-building, 616-unit complex that was built in the 1950s with 700 new units of affordable housing. Information on rent restrictions and floor plans was not disclosed. The redevelopment will also feature 5,000 square feet of retail and commercial space, a new community center, landscaped green spaces and a public plaza.

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Thompson Coburn Signs 46,000 SF Office Lease Renewal in Midtown Manhattan

Taylor Williams — Fri, 13 Feb 2026 14:40:07 +0000

NEW YORK CITY — Thompson Coburn LLP has signed a 46,000-square-foot office lease renewal in Midtown Manhattan. The national law firm will continue to occupy the entire 14th and 15th floors of 488 Madison Avenue, a 447,000-square-foot building, where it has been a tenant since 2002. Andrew Wiener, Tim Parlante and Kyle Young represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. Joe Learner and Jarod Stern of Savills, along with Chris Kraus of JLL, represented Thompson Coburn, which will undertake a full redesign of its spaces as part of the deal.

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Partnership Unveils Plans for 600-Unit Affordable Housing Project in Upper Manhattan

Taylor Williams — Thu, 12 Feb 2026 14:39:20 +0000

NEW YORK CITY — A partnership between Slate Property Group, Xenolith Partners, nonprofit organization Comunilife Inc. and the New York City Department of Housing Preservation and Development (HPD) has unveiled plans for a 600-unit affordable housing project in the Inwood area of Upper Manhattan. Designed by Magnusson Architecture and Planning PC and known as La Ostra, the development will also include a marine science and STEM education center that will be operated by the Billion Oyster Project and BioBus. La Ostra will also feature a new indoor–outdoor field house, social services facilities and roughly an acre of publicly accessible, open waterfront space along the Harlem River. Proposed facilities beyond the residential component include an outdoor classroom, a pavilion with a seating area and movable furniture, a central lawn and a stone amphitheater. Information on floor plans and income restrictions of the affordable housing units was not announced.

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Tavros Acquires Mixed-Use Development Site in Lower Manhattan for $143M

Taylor Williams — Wed, 11 Feb 2026 15:18:45 +0000

NEW YORK CITY — Local development and investment firm Tavros has acquired a mixed-use development site at 250 Water St. in Lower Manhattan for $143 million. The site spans a whole city block and is currently entitled for the construction of a 26-story building that will include both market-rate and affordable housing units, as well as commercial, retail and/or community space. Andrew Scandalios, Ethan Stanton and Nicco Lupo of JLL represented the seller, Seaport Entertainment Group (NYSE: SEG), in the transaction. Luppo also worked with JLL’s Christopher Peck to arrange predevelopment financing and an equity investment from Atlas Capital. Tavros has tapped Fogarty Finger as the project architect going forward.

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Bushburg Receives $78M in Financing for Manhattan Office-to-Residential Conversion Project

Taylor Williams — Wed, 11 Feb 2026 15:10:27 +0000

NEW YORK CITY — Bushburg has received $78 million in financing for an office-to-residential conversion project in Manhattan. The locally based development and investment firm will use the proceeds to acquire the 21-story building at 100 William St. in the Financial District and fund predevelopment costs. Bushburg plans to convert the building into an approximately 400-unit complex in which 25 percent of the units will be reserved as affordable housing. Bridge lender Oak Funding and OakNorth Bank co-provided the financing. A tentative completion date was not disclosed.

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PGM, Brisa Top Out 92-Unit Affordable Housing Project in Queens

Taylor Williams — Wed, 11 Feb 2026 14:51:45 +0000

NEW YORK CITY — A partnership between PGM Affordable and Brisa Builders Development has topped out a 92-unit affordable housing project in the Far Rockaway area of Queens. The nine-story building at 19-19 Cornaga Ave. will offer studio, one- and two-bedroom units that will range in size from 331 to 652 square feet, with 60 units to be set aside as supportive housing. Amenities will include a fitness center, computer room, resident lounge, children’s play area, social services office and a multi-purpose space for community programs, classes and recreational activities. Completion is slated for the end of the year.

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JLL Brokers Sale of 209,792 SF Industrial Portfolio in Valley Cottage, New York

Taylor Williams — Tue, 10 Feb 2026 15:36:21 +0000

VALLEY COTTAGE, N.Y. — JLL has brokered the sale of a portfolio of four industrial buildings totaling 209,792 square feet in Valley Cottage, about 35 miles north of New York City. Known as the Northern I-287 Small-Bay Portfolio, the buildings collectively span 16.5 acres, range in size from 29,700 to 72,000 square feet and were 96 percent leased to 27 tenants at the time of sale. JLL represented the seller, an undisclosed private investor, in the transaction. JLL also arranged acquisition financing for the deal through PCCP LLC on behalf of the buyer, Connecticut-based investment firm East Capital Partners.

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Affinius Capital Provides $115M Loan for Refinancing of Manhattan Multifamily Project

Taylor Williams — Mon, 09 Feb 2026 14:28:16 +0000

NEW YORK CITY — Affinius Capital has provided a $115 million loan for the refinancing of 162 East 36th Street, a 22-story multifamily project that is under construction in Manhattan’s Murray Hill neighborhood. The 160-unit building will ultimately house 87 studios, 46 one-bedroom apartments and 27 two-bedroom residences, as well as 3,700 square feet of retail space. Amenities will include a rooftop lounge, fitness center, resident’s club, pet spa, coworking spaces and rentable storage space. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, a partnership between Ranco Capital and the Gilardian Family. Proceeds will be used to complete construction and stabilize occupancy.

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Gencom Acquires The Ritz-Carlton New York, Central Park Hotel

Abby Cox — Fri, 06 Feb 2026 12:45:00 +0000

NEW YORK CITY — Gencom, a Miami-based investment firm, has acquired The Ritz-Carlton New York, Central Park, a 253-room hotel located in Midtown Manhattan. Banco Inbursa provided financing for the acquisition. Although the sales price was not disclosed, media outlets reported a bidding price of $400 million for the property in March 2024. “Gencom continues to see compelling long-term opportunities in New York City, particularly for luxury assets with enduring global appeal,” says Karim Alibhai, founder and principal of Gencom. Situated within the Plaza District at the corner of Central Park South and Sixth Avenue, the Ritz-Carlton New York comprises 253 guest rooms, including 47 suites that are located on the lower 22 floors of the 33-story building. The upper floors consist of roughly a dozen private residential condominiums, which were not included in the sale. Guest rooms offer a more standard hotel room layout, with separate seating areas, marble bathrooms and walk-in showers. Meanwhile, the residential condos average more than 1,000 square feet in size and include distinct living spaces, kitchens and dining areas. The Ritz-Carlton hotel also features various amenities for its guests, including Contour, the all-day gastro lounge; the Ritz-Carlton Club Lounge; the La Prairie Spa; and a…

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