NEW YORK CITY — Round1 Bowling & Arcade, a Japanese entertainment concept, will open an 80,300-square-foot venue in Queens. The space will be situated within the 700,000-square-foot Shops at Skyview development in the borough’s Flushing area and will be the operator’s first location in the city. David Friedman and Andrew Stern of Newmark represented the tenant in the lease negotiations. ShopCore Properties, a subsidiary of Blackstone, owns Shops at Skyview.
NEW YORK CITY — Marcus & Millichap has negotiated the $5.6 million sale of two apartment buildings totaling six units in the Carroll Gardens area of Brooklyn. The buildings at 431-433 Court St. were originally built in 1920 and house two-bedroom units, as well as a ground-floor retail space occupied by Citizens Bank. Matt Fotis of Marcus & Millichap represented the seller in the transaction and procured the buyer, both of which were local private investors that requested anonymity.
NEW YORK CITY — Evergreen Trading has subleased 20,309 square feet of office space at One SoHo Square in Manhattan. The media investment agency will relocate from 99 Hudson St. in the first quarter, doubling its footprint for the ensuing seven-year lease term. Michael Berman of JLL represented Evergreen Trading in the sublease negotiations. Zev Holzman of Savills represented the undisclosed sublessor. Stellar Management owns the property.
NEW YORK CITY — Locally based investment firm Williams Equities has acquired 470 Park Avenue South, a 300,000-square-foot office complex in Midtown Manhattan, for $147.5 million. Known locally as The Silk Building, 470 Park Avenue South is located between 31st and 32nd streets and consists of two interconnected buildings that rise 12 and 18 stories. The property also features ground-floor retail space and amenity spaces that support collaborative work and outdoor congregation and socialization. Will Silverman of Eastdil Secured represented the seller in the transaction. Jessica Verdi and Mac Roos of Colliers, along with internal agents Michael Cohen, Andrew Roos, Robert Getreu and William Stempel, represented Williams Equities.
NEW YORK CITY — Financial services firm Citadel has signed a 504,000-square-foot office lease at 660 Fifth Avenue in Midtown Manhattan, according to a recent report on the Manhattan office market from real estate services firm Savills. Brookfield Properties owns the 39-story, 1.2 million-square-foot building, which recently underwent a $400 million redevelopment. Law firm Fried Frank acted as advisor to Citadel in the lease negotiations and is also advising the company in the development of its new headquarters at 350 Park Avenue. CBRE is the leasing agent for 660 Fifth Avenue.
NEW YORK CITY — Marcus & Millichap has brokered the $6.7 million sale of a 20-unit multifamily building in Manhattan’s West Village. The five-story building at 77 Barrow St. was originally constructed in 1900. Joe Koicim and Peter Dodge of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $15.6 million sale of a quartet of contiguous multifamily buildings in Brooklyn’s Prospect Heights neighborhood. The buildings are located at 315-329 Lincoln Place and comprise 48 units that were recently renovated. Victor Sozio, Sean Kelly, Remi Mandell and Jake Brody of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — Slate Property Group and White Oak Real Estate Capital have provided a $70 million construction loan for a multifamily project in the Long Island City area of Queens. The building at 41-08 Crescent St. will rise 26 stories and house 184 units, 70 percent of which will be subject to income restrictions. In addition, the building will offer 9,000 square feet of retail space and a 41-space parking area. Skyline Capital arranged the 20-year, floating-rate loan on behalf of the developer, Watermark Capital Group. Construction is roughly midway complete and scheduled for a spring 2026 completion.
NEW YORK CITY — Ariel Property Advisors has arranged a $10.2 million acquisition loan for a four-unit apartment building in Manhattan’s Flatiron District. The address of the 8,900-square-foot building was not disclosed. Ben Schlegel and Paul McCormick of Ariel Property Advisors arranged the nonrecourse loan, which was structured with an interest rate that is equivalent to 5.5 percent above the 30-day average SOFR rate and a 75 percent loan-to-cost ratio. The borrower and direct lender were also not disclosed.
NEW YORK CITY — JLL has arranged the $290 million recapitalization of 505 State Street, a 440-unit apartment building located in downtown Brooklyn. Completed earlier this year, the building offers one-, two- and three-bedroom apartments with an average size of 659 square feet, as well as 28,752 square feet of retail space. Amenities include a fitness center, yoga studio, rooftop pool, communal lounges, a screening room and dedicated workspaces. Details on any changes in the equity component of the capital stack were not disclosed, but the transaction did include the origination of a five-year, fixed-rate senior loan through insurance giant New York Life. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the loan on behalf of the borrower, Alloy Development.