NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $7.5 million sale of a seven-unit apartment building located at 230-232 W. 72nd St. on Manhattan’s Upper West Side. The 11,500-square-foot building was constructed in 1900 and includes one retail space and two office spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood represented the buyer, a private office, in the transaction. Andrew Natter and Harold Fuchs of Collaborative Group represented the seller, the Niederman Family. The deal traded at a cap rate of 4.8 percent.
NEW YORK CITY — JLL has negotiated a 30,166-square-foot office lease at 875 Third Avenue in Midtown Manhattan. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL represented the landlord, Global Holdings Management Group, in the lease negotiations. Jeffrey Peck, Daniel Horowitz, Roi Shleifer and Jacob Stern of Savills represented the tenant, the New York Compensation Insurance Rating Board. The nonprofit association of insurance carriers is relocating from 733 Third Avenue to the entire eighth floor of the 29-story building. The deal brings the 750,000-square-foot property, which was originally constructed in 1982, to 98 percent occupancy.
NEW YORK CITY — Dynamic Star has released details for One Fordham Landing, a 350,000-square-foot office building located in the University Heights neighborhood of The Bronx in New York City. The building will be the first of a larger mixed-use development, Fordham Landing, which is valued at $3.5 billion, according to Crain’s New York Business. Located on West Fordham Road along the Harlem River, Fordham Landing will be developed in phases beginning with the segment Fordham Landing South. Alongside the recently announced office building, this initial phase will include 505 units of affordable and market-rate housing. The multifamily and office portions of the project will share a 20,000-square-foot amenity space featuring community gardening areas, a pickleball court, lap pool, basketball court and fitness center. Plans for Phase I also include a landscaped public waterfront esplanade overlooking the Harlem River. One Fordham Landing, which is scheduled for completion in 2025, will target medical and educational tenants. The building’s base will feature 28,000-square-foot floor plates with 18-foot ceiling heights, and the upper floors of the project will feature 10,000-square-foot floor plates. The development is also set to include a new entrance and pedestrian bridge to the adjacent North University Heights Metro station. …
WHITE PLAINS, N.Y. — A partnership between Cleveland-based developer The NRP Group and local owner-operator RPW Group has completed The Halden, a 303-unit multifamily project located north of New York City in White Plains. The site at 1133 Westchester Ave. spans 70 acres and is adjacent to a 620,000-square-foot office complex that formerly served as IBM’s world headquarters. The three-building community houses one-, two- and three-bedroom units that are furnished with quartz countertops, stainless steel appliances and in-unit washers and dryers. Amenities include a pool, fitness center, children’s play area and outdoor grilling and dining stations. Rents start at $2,800 per month for a one-bedroom apartment.
POUGHKEEPSIE, N.Y. — Developer and general contractor Mid Hudson Construction Management has begun leasing Birchwood Commons, a 20-unit multifamily project located north of New York City in Poughkeepsie. The property consists of four buildings that each house five two-bedroom apartments. Residences are furnished with stainless steel appliances, quartz countertops and walk-in closets. Rents start at $2,750 per month.
YONKERS, N.Y. — First Citizens Bank has provided a $42.2 million construction loan for a film production studio in Yonkers, located north of New York City, that will be operated by MediaPro US, a Spanish language programming company. A joint venture between National Resources and Great Point Media is developing the 112,400-square-foot facility, which will house studio, office and warehouse space. A construction timeline was not disclosed.
NEW YORK CITY — Slate Property Group has begun leasing The Yellowstone, a 166-unit multifamily project located in the Forest Hills area of Queens. Designed by Aufgang Architects, the property offers one- and two-bedroom units that range in size from 475 to 950 square feet and feature stainless steel appliances, granite countertops and backsplashes and individual washers and dryers. Select units also have private balconies. Amenities include a fitness center, lounges and a rooftop terrace, and the building’s retail space will house a Trader Joe’s grocery store. Rents start at $3,300 per month for a one-bedroom apartment.
HUNTINGTON STATION, N.Y. — A partnership between Dallas-based investment firm Realty Capital Partners and self-storage developer DXD Capital is underway on construction of a 664-unit facility in the Long Island community of Huntington Station. The facility will total 62,125 net rentable square feet of space that will be entirely climate-controlled. Construction began in June and is expected to be complete in August 2024. Extra Space Storage will operate the facility, which will be the first new self-storage project to be built in Huntington Station in nearly three years, according to the development team.
NEW YORK CITY — Chelsea Piers Fitness will open a 72,000-square-foot gym at 24-11 Jackson Ave., a 55-story mixed-use tower located in the Long Island City area of Queens. The facility will house indoor and outdoor pools, a basketball court, track, studios for group classes and a member lounge. Erin Grace and Matt Ogle of JLL represented Chelsea Piers Fitness in the lease negotiations. The landlord, a partnership between Tavros Holdings, Charney Cos. and Incoco Capital, was self-represented.
NEW YORK CITY — Lockton Re, a provider of reinsurance services, has signed a 19,326-square-foot office lease at 261 Fifth Avenue in Manhattan’s NoMad district. The company is relocating from 48 West 25th St. to the 10th floor of the 25-story, 450,000-square-foot building. Don Preate of JLL represented the tenant in the lease negotiations. Andrew Wiener, Tim Parlante and David Turino internally represented the landlord, The Feil Organization, which recently implemented a $20 million value-add program at the building.