NEW YORK CITY — Grimshaw Services USA, a division of British architectural firm Grimshaw, has signed an 18,783-square-foot office lease at 60 Madison Avenue in Manhattan’s Meatpacking District. The tenant plans to take occupancy of the entire fourth floor in the second quarter of next year. Gregg Rothkin, Tim Freydberg, Jared London and Hayden Pascal of CBRE represented the landlord, The Moinian Group, in the lease negotiations. Ken Fishel of LegacyNY represented the tenant.
NEW YORK CITY — Empire State Realty Trust (NYSE: ESRT) has acquired 298 Mulberry Street, a 96-unit multifamily community located in Manhattan’s NoHo neighborhood, for $115 million. Located at the corner of East Houston and Mulberry streets, the community features ground-floor retail space occupied by CVS/pharmacy. Shared amenities include a 24-hour doorman, fitness center, rooftop terrace and laundry room. All of the building’s units are market-rate rentals and feature walk-in closets and stainless steel kitchen appliances. The seller was a joint venture between Broad Street Development and an affiliate of Crow Holdings Capital. Andrew Scandalios, Rob Hinckley, Jeffrey Julien, Steven Rutman and Jonathan Faxon of JLL represented the seller in the all-cash, 1031 exchange transaction. Empire State Realty is a self-managed REIT that operates a portfolio of office, retail and multifamily properties within Manhattan and the greater New York City area. The company’s stock price closed at $6.90 per share on Wednesday, Dec. 21, down slightly from $8.65 one year ago. New York City-based Broad Street Development is a privately held real estate developer, investor and operator with a focus on office and residential properties. Dallas-based Crow Holdings is a privately owned real estate investment and development firm with $30 billion …
ORANGEBURG, N.Y. — CBRE has brokered the $12 million sale of a 38,400-square-foot life sciences facility located at 25 Corporate Drive in Orangeburg, about 25 miles north of Manhattan. Charles Berger, Elli Klapper, Mark Silverman and Jeremy Wernick of CBRE represented the seller, an entity doing business as 25 Corporate Drive LLC, in the transaction. The team also procured the buyer, Solomon Builders, which acquired the property via a 1031 exchange. At the time of sale, the property was fully leased on a triple-net basis to Scapa North America, a subsidiary of global engineering firm Schweitzer-Mauduit International.
NEW YORK CITY — Locally based financial intermediary ERG Commercial Real Estate has arranged a $5 million loan for the refinancing of a 13,300-square-foot retail property in Brooklyn’s Bushwick neighborhood. The property at 29 Wyckoff Ave. was originally built as a warehouse in 1931, but the undisclosed borrower recently converted the structure into a retail property with five spaces. Ryan Lewis and Mary Guarino of ERG Commercial originated the loan, which carried a 4 percent fixed interest rate and a 25-year amortization schedule.
NEW YORK CITY — Whole Foods Market will open a 42,000-square-foot store at 66 Broadway in Manhattan’s Financial District, on Wednesday, Jan 11. The store will feature full-service meat and seafood counters, a coffee bar, bakery, prepared foods section, a selection of more than 200 craft beers and a section devoted to cosmetics and body care products.
NEW YORK CITY — Fintech services firm WorkFusion has signed a 13,327-square-foot office lease at 1450 Broadway in Midtown Manhattan. The tenant will relocate from 48 Wall Street to the entire 19th floor of the 42-story building, which features a fitness center, conference facility and tenant lounges. Val Stobetsky, William McGarry and Michael Pallas of JLL represented WorkFusion in the lease negotiations. Mitchell Konsker, Barbara Winter, Greg Wang, Simon Landmann and Thomas Swart, also with JLL, represented the landlord, ZG Capital. The building is now 90 percent leased.
NEW YORK CITY — SJP Properties and PGIM Real Estate have completed a $15 million renovation project at 470 Park Avenue, a 300,000-square-foot office building in Manhattan. The multi-year project refreshed the building façade, replaced windows to increase natural lighting, delivered custom buildouts of select suites, upgraded infrastructure, improved sustainability systems and modernized the elevator system. Ownership also added a new tenant lounge and outdoor space for meetings, presentations and conferences and updated the building’s retail space.
BATAVIA AND DARIEN, N.Y. — Marcus & Millichap has brokered the sale of a portfolio of two self-storage facilities totaling 371 units in the upstate New York communities of Batavia and Darien. West Batavia Rentals and Broadway Rentals are located roughly 12 miles from one another and span 51,670 square feet of combined net rentable space. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer, both of which were limited liability companies that requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
YONKERS, N.Y. — Virginia-based investment firm Excel Group has acquired the Hampton Inn & Suites Yonkers, a 150-room hotel located about 17 miles north of New York City. The property offers both traditional guestrooms and suites, and amenities include an indoor pool, fitness center, business center and meeting and event space. The seller and sales price were not disclosed.
NEW YORK CITY — Northwell Health has signed a 12,000-square-foot lease at Plaza 57 Medical, a 16-story building in Midtown Manhattan. The tenant plans to take occupancy of the entire 10th floor in the third quarter of next year. Paul Wexler, Josef Yadgarov and Elliot Dennis of Wexler Healthcare Properties represented Northwell Health and the landlord, The Moinian Group, in the lease negotiations.