New York

NRP Group, RPW Group Complete 303-Unit Multifamily Project in White Plains, New York

by Taylor Williams July 19, 2023

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.

July 19, 2023

Development Multifamily New York Northeast

Mid Hudson Construction Management Begins Leasing 20-Unit Multifamily Project in Poughkeepsie, New York

by Taylor Williams July 19, 2023

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.

July 19, 2023

Development Industrial Loans New York Northeast Office

First Citizens Bank Provides $42.2M Construction Loan for Film Production Studio in Yonkers, New York

by Taylor Williams July 18, 2023

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.

July 18, 2023

Development New York Northeast

Slate Property Group Begins Leasing 166-Unit Multifamily Project in Queens

by Taylor Williams July 18, 2023

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.

July 18, 2023

Extra-Space-Storage-Huntington-Station-New-York

Development Industrial New York Northeast Self-Storage

Realty Capital, DXD Underway on 664-Unit Self-Storage Facility on Long Island

by Taylor Williams July 17, 2023

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.

July 17, 2023

Leasing Activity New York Northeast Retail

Chelsea Piers Fitness to Open 72,000 SF Gym in Queens

by Taylor Williams July 17, 2023

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.

July 17, 2023

Leasing Activity New York Northeast Office

JLL Negotiates 19,326 SF Office Lease in Manhattan’s NoMad District

by Taylor Williams July 17, 2023

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.

July 17, 2023

Development Healthcare New York Northeast Top Stories

Extell Development Underway on 435,000 SF Medical Office Project on Manhattan’s Upper East Side

by Taylor Williams July 17, 2023

NEW YORK CITY — Locally based firm Extell Development Co. is underway on construction of a 435,000-square-foot medical office project at 1520 First Ave. on Manhattan’s Upper East Side. Designed by Perkins Eastman Architects, the 30-story building will occupy a full city block between East 79th and East 80th streets and house ambulatory care and surgical facilities. Foundation completion and vertical construction are scheduled to occur during the third quarter of this year, and full completion is slated for the second quarter of 2025. According to the development team, the facility will be the first privately built medical office tower to be developed on the Upper East Side. Additional building features will include multiple outdoor terraces and mechanical systems to enhance comfort and energy efficiency, as well as ground-floor retail space. The Hospital for Special Surgery (HSS) has preleased eight floors totaling 195,580 square feet to serve as the facility’s anchor tenant. Newmark has been tapped to lease the remainder of the space. HSS will house orthopedic and rheumatology physician’s offices, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine …

July 17, 2023

Acquisitions New York Northeast Office

Kaufman Organization Acquires Manhattan Office Building for $92.5M

by Taylor Williams July 14, 2023

NEW YORK CITY — The Kaufman Organization has acquired 875 Avenue of the Americas, a 26-story, 265,000-square-foot office building in Manhattan’s NoMad neighborhood, for $92.5 million. The building was originally constructed in 1926. Chris Varjan of Lee & Associates led a team that represented the seller, which had owned the property since 1975, in the transaction.

July 14, 2023

Development Multifamily New York Northeast Seniors Housing

Sunrise Senior Living Completes 156-Unit Project on Manhattan’s Upper West Side

by Taylor Williams July 14, 2023

NEW YORK CITY — Sunrise Senior Living, in partnership with Hines and Welltower (NYSE: WELL), has completed The Apsley, a 156-unit project on Manhattan’s Upper West Side. Designed by SLCE Architects, the 19-story building is located at 2330 Broadway between 84th and 85th streets and features 80 assisted living and 76 memory care units. Rents start at $15,000 per month for studios, $21,500 for one-bedroom suites and $24,000 for two-bedroom suites.

July 14, 2023

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