NANUET, N.Y. — Regional brokerage firm Katz & Associates has arranged the $7.6 million sale of two retail properties in Nanuet, located near the New York-New Jersey border. Built in 1973, the properties comprise a 2,500-square-foot single-tenant building and a 30,000-square-foot multi-tenant building. Chase Bank occupies the single-tenant building, and the multi-tenant building is leased to Tile Shop, Carpet One and Hudson Valley Integrated Medicine. Donny Moskovic of Katz represented both the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — J.P. Morgan has provided a $210 million Freddie Mac loan for the refinancing of a portfolio of 12 transitional and affordable housing properties in New York City. The properties are scattered throughout Manhattan, Brooklyn, Queens and The Bronx and total 1,115 units across approximately 304,000 square feet. Each property is leased to a unique nonprofit operator and backed by a contract with the New York City Department of Homeless Services. The loan carries a seven-year term and a fixed interest rate. The borrower is a partnership between two locally based firms, developer Slate Property Group and alternative asset management firm Fundamental Advisors.
SPENCERPORT, N.Y. — New York-based brokerage firm Legacy Realty Group Advisors has negotiated the sale of Spencerport Village Plaza, a 99,096-square-foot shopping center located on the western outskirts of Rochester. Tops Friendly Markets anchors the property, which is also home to tenants such as Dollar Tree, M&T Bank and Lamont Awards & Apparel. Jacob Baruch and Daniel Baruch of Legacy Realty represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — New York-based nonprofit organization Innovative Resources for Independence has purchased a 9,227-square-foot retail building in the Rego Park area of Queens. The sales price was $5.2 million. The building, which previously housed a Rite-Aid, is located at 65-35 Woodhaven Blvd. and includes 21 parking spaces. Andrew Jaworski, Dean Rosensweig, Chris Betting and Jojo Lewis of CBRE represented the undisclosed seller in the transaction.
NEW YORK CITY — JLL has arranged a $52 million construction loan for a multifamily project located at 133 E. 55th St. in Manhattan’s Midtown East neighborhood. The project currently rises 12 stories and will reach 21 stories upon completion, which is scheduled for winter 2025. Designed by Zproekt Architecture, the building will house one-, two- and three-bedroom units as well as one three-bedroom duplex penthouse. Amenities will include a spa complex with a sauna, steam room and plunge pool, as well as a fitness center, package room and an outdoor recreation area. Locally based bridge lender Emerald Creek Capital provided the loan to the developer, a joint venture between Rybak Development and BK Developers. Robert Tonnessen and Aaron Neidermayer led the tranasaction for JLL.
YONKERS, N.Y. — Bayview PACE has provided $3.5 million in C-PACE financing for a 170-unit apartment building in Yonkers, located north of New York City. The 10-story building at 66 Main St. was originally built in 2008 and offers amenities such as a fitness center, basketball court, community room, media room and rooftop terrace, as well as nearly 20,000 square feet of ground-floor retail space. The undisclosed owner will use the financing to fund energy-efficiency initiatives and HVAC repairs and replacements. To close the loan, Bayview worked with Energy Improvement Corp. (EIC), a nonprofit development corporation that provides long-term alternative financing to fund clean energy projects in commercially owned buildings in New York.
NEW YORK CITY — A joint venture between Zeckendorf Development, Atlas Capital Group and The Baupost Group LLC has received $985 million in financing for the development of 80 Clarkson, a full-block condominium project along the Hudson River in Manhattan’s West Village neighborhood. The two towers of the development will rise 450 feet and total 100 ultra-luxury units. The first tower is scheduled for completion in 2026, with the second following in 2027. Newmark arranged the loan for the project on behalf of the developers. Jordan Roeschlaub, Chris Kramer and Jonathan Firestone of Newmark secured the financing from Cale Street Partners and Farallon Capital Management. The community will feature outdoor space, luxury finishes, an amenity package and ground-floor retail space. 80 Clarkson is located on the northernmost portion of the former St. John’s Terminal Building, which was originally built in 1934 as the terminus to the High Line Rail Road. The building spanned almost four city blocks, nearly 850 feet along the Hudson River. In 2016, Atlas led a prior venture in a complex rezoning which allowed for significantly increased density on the site. After negotiating early terminations with the building’s office tenants, the venture sold the portion of the …
NEW YORK CITY — Property Resources Corp. has begun leasing The Hartby, a 205-unit multifamily adaptive reuse project in Brooklyn. The Hartby is a redevelopment of the former St. John’s College building, which was originally constructed in the borough’s Bedford-Stuyvesant neighborhood in 1870. Units come in studio, one- and two-bedroom floor plans, and 30 percent (62) of the residences are rent-stabilized and are now being leased via a lottery system. Amenities include a fitness center, private party room, business center, library, indoor/outdoor lounge, a rooftop deck with barbecue stations, pet spa and an interior courtyard. Woods Bagot served as the project architect, with interiors by Alchemy Studio. Leasing of market-rate units will begin later this summer, and move-ins will commence this fall.
WEBSTER, N.Y. — Ranger Design, a manufacturer of shelving and partitions for vans, trucks and trailers, has signed a 151,169-square-foot industrial lease in Webster, a suburb of Rochester. The company is relocating from nearby Ontario, New York, to a 768,475-square-foot building at 700 Resende Road. The building is part of the former Xerox campus and features clear heights of 16 to 24 feet and 50,000 square feet of office space. James Panczykowski of JLL represented the locally based landlord, Tessy Plastics Corp., in the lease negotiations. Ranger Design was self-represented.
NEW YORK CITY — Denham Wolf Real Estate Services has expanded and extended its office lease at 520 Eighth Avenue in Manhattan’s Garment District. Denham Wolf has been a tenant at the 26-story building since 2001. The new 11-year lease features an additional 3,887 square feet of space for a total footprint of 9,253 square feet. Christopher Turner and Kate Hrobsky internally represented Denham Wolf in the lease negotiations. Matthew Mandell represented the landlord, GFP Real Estate, also on an internal basis