NEW YORK CITY — Rooftop Hospitality Group has signed a 12-year retail lease extension at 230 Fifth Ave. in Manhattan. The tenant occupies the roof of the New York Market Center building, where it operates the 230 Fifth Avenue Rooftop Bar concept. The bar originally opened in 2006 and comprises 32,050 square feet of indoor and outdoor space. Jane Gural-Senders, David Kaye and Harvey Richer internally represented the landlord, GFP Real Estate, which has owned the building since 1958, in the lease negotiations.
YONKERS, N.Y. — Affinius Capital has provided a $112.7 million loan for the refinancing of Alexander Crossing, a 440-unit apartment building located north of New York City in Yonkers. The newly built waterfront property offers 119 studios, 218 one-bedroom units, 90 two-bedroom residences and 13 three-bedroom apartments. Units are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include an outdoor heated pool, terraces with grills and outdoor games, a fitness center, resident lounge, coworking space, multi-sport simulator and a game room. Jonathan Schwartz, Aaron Appel, Sean Reimer, Keith Kurland, Adam Schwartz and Sean Bastian of Walker & Dunlop arranged the financing on behalf of the borrower, a joint venture between Rose Associates and Battery Global Advisors.
NEW YORK CITY — Walker & Dunlop (NYSE: WD) has arranged the $148 million refinancing for The Victoria, a mixed-use property in the Harlem neighborhood of Upper Manhattan. At 30 stories, the property is the tallest building in Harlem. The Victoria is built around the neighborhood’s historic Victoria Theater and offers 191 luxury apartments, a 211-room Marriott-branded hotel and 23,000 square feet of retail space. The project was completed in the third quarter of 2023 and also features 52 below-grade parking spaces. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Ari Hirt and William Herring of Walker & Dunlop’s New York capital markets team acted as exclusive advisors to the borrowers, Lam Group and Exact Capital. Aareal Capital provided the financing, which will support ongoing operations and future enhancements to the project. “This transaction underscores the project’s significance as a transformative development in Upper Manhattan, combining luxury living, hospitality excellence and cultural preservation,” says Appel. Bethesda, Md.-based Walker & Dunlop is one of the largest commercial real estate finance and advisory firms in the United States. — Katie Sloan
NEW YORK CITY — ENT and Allergy Associates (ENTA) has opened a 10,000-square-foot healthcare clinic in the Flushing area of Queens. In February, ENTA signed a long-term lease expansion and renewal at the property, expanding its medical footprint from 1,800 square feet. Jonathan Serko of Cushman & Wakefield represented the tenant in the lease negotiations. Miles Mahony of RIPCO Real Estate represented the landlord, Simone Development Cos.
NEW YORK CITY — Local haircare providers amika and Eva NYC have signed a 10-year, 19,000-square-foot office lease for shared headquarters space in Brooklyn. The brands will both operate out of 25 Kent, a mixed-use waterfront building in the Williamsburg neighborhood. Sam Seiler of JLL represented the landlord, Rubenstein Partners, in the lease negotiations. Michael Berman and Whitten Morris, also of JLL, represented the tenants, which plan to take occupancy of their new space this fall.
NEW YORK CITY — Marcus & Millichap has brokered the $9 million sale of a five-story, 17,645-square-foot commercial building located at 216 E. 49th St. in Manhattan’s Turtle Bay area. The building currently houses office space on the upper floors but is zoned to accommodate residential conversion. The building also features a 3,800-square-foot ground-floor space that is vented for a restaurant with a fully built-out basement. Peter Dodge, Joe Koicim, Logan Markley and Zan Colin of Marcus & Millichap represented the seller, a family office that owned and operated the property for 25 years, in the transaction. The buyer was a local restaurateur that plans to occupy the space.
NEW YORK CITY — Harvey, a San Francisco-based generative AI platform for professional services, has signed a 17,050-square-foot office lease in Midtown Manhattan. The space spans the entire fifth floor of 315 Park Avenue S., a 20-story building in the Flatiron District. Todd Stracci and Hugh Scott of JLL represented the tenant in the lease negotiations. David Falk, Peter Shimkin and Jonathan Fanuzzi of Newmark, in conjunction with internal agents Maria Blake and Ted Koltis, represented the landlord, Columbia Property Trust.
NEW YORK CITY — CBRE has arranged a 15,379-square-foot office lease renewal in Midtown Manhattan. The tenant, Kenneth Park Architects, will continue to occupy the entire seventh floor at 360 Lexington Avenue, a 24-story, 268,383-square-foot building. Steve Eynon of CBRE represented the tenant in the lease negotiations. Locally based investment firm Savanna owns the building.
NEW YORK CITY AND DALLAS — HBC, the New York City-based parent company of Saks Fifth Avenue, has agreed to acquire Dallas-based Neiman Marcus Group. The merger between the two luxury fashion retailers is valued at $2.6 billion. An estimated closing date was not released. Following the acquisition, HBC will establish Saks Global, an entity that will combine the intellectual property and real estate assets of the two companies. Brands that are already owned by HBC or Neiman Marcus, including Saks OFF 5th, Bergdorf Goodman and Last Call Outlet, will continue operations under their original names. HBC will fund the purchase through a combination of equity from new and existing shareholders. Notably, both Amazon and Salesforce will be shareholders in the new company upon closing, with the Seattle-based e-commerce giant also expected to take on a consultative role. According to CNN, the two companies have been discussing a merger for several years. The Atlanta-based news network also reports that Saks currently operates 39 stores, while Neiman Marcus, which filed for Chapter 11 bankruptcy in 2020, operates 36 stores. “For years, many in the industry have anticipated this transaction and the benefits it would drive for customers, partners and employees,” says …
NEW YORK CITY — A partnership between locally based developer BFC Partners, CB Emmanuel, nonprofit organization Catholic Homes, Pinnacle City Living and the New York City Housing Authority (NYHCA) has received $332.3 million in financing for the redevelopment of West Brighton I and II on Staten Island. The project, which is being carried out through the NYHCA’s Permanent Affordability Commitment Together (PACT) program will rehabilitate 574 affordable housing units that are home to more than 1,300 residents. The development team will also reactivate 24 vacant units, with 12 restored as permanently affordable residential units and 12 converted into a new senior center. The financing consists of a combination of debt provided by Freddie Mac and the New York City Housing Development Corp. (HDC), as well as a bridge loan provided by Wells Fargo, historic tax credits, city subsidies and sponsor equity. Buildings will receive both interior and exterior renovations, including façade restorations, roof repairs, new security systems, ventilation improvements and refurnished heating and water systems. In addition, the partnership will undertake comprehensive upgrades to the bathrooms and kitchens with new appliances, fixtures and countertops. Lastly, the grounds will be revitalized with new landscaping, lighting, play equipment, seating, walkways and community …