LEVITTOWN, N.Y. — Advance Auto Parts has signed a 7,000-square-foot retail lease at Levittown Mews Shopping Center on Long Island. Robert Delavale of Breslin Realty represented the landlord in the lease negotiations. The representative of the tenant was not disclosed. Other tenants at Levittown Mews include Walmart Neighborhood Market, Ulta Beauty, America’s Best Contacts & Eyeglasses, Lane Bryant and European Wax Center.
NEW YORK CITY — Brookfield Real Estate Financial Partners has provided a $272.5 million construction loan for a project that will convert a 530,000-square-foot office building at 160 Water Street in Manhattan’s Financial District into a 588-unit apartment community. The redevelopment, a tentative completion date for which was not disclosed, will add six levels to the 24-story building. The new apartment building will feature units with stainless steel appliances, quartz countertops and individual washers and dryers, as well as amenities such as a lobby lounge, coffee bar, fitness center and rooftop deck. Gideon Gil, Adam Spies, Kempton Coady and Alex Lapidus of Cushman & Wakefield arranged the loan on behalf of the borrower, Vanbarton Group.
NEW YORK CITY — Newmark has arranged a $260 million loan for the refinancing of 75 Rockefeller Plaza, a 627,000-square-foot office building located within Midtown Manhattan’s Plaza District. Office users at 75 Rockefeller Plaza, which was originally constructed in 1947, include WeWork and Bank of America, and American Girl anchors the ground-floor retail space. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the financing through Bank of America and Carlyle Group. The borrower, RXR Realty, originally acquired the leasehold interest in the asset in 2013 and has subsequently invested $150 million in capital improvements. RXR Realty also operates its New York City headquarters out of the building.
NEW YORK CITY — A partnership between two privately owned firms, William Macklowe Co. and Senlac Ridge Partners, will develop a 180-unit multifamily project in Brooklyn’s Park Slope neighborhood. The complex will include 45 affordable housing units and a parking garage, as well as 67,000 square feet of commercial space that is now partially leased to CVS and German discount grocer Lidl. Construction is slated for a late 2024 completion. RIPCO Real Estate represented the developer in the retail lease negotiations.
YONKERS, N.Y. — Los Angeles-based Parkview Financial has provided an $18.3 million construction loan for a self-storage conversion project in Yonkers, a northern suburb of New York City. The borrower, KCT Inc., plans to demolish a 9,820-square-foot industrial building at 1060 Nepperhan Ave. and to construct a facility that offers 77,000 square feet of net rentable space across 949 units. CubeSmart will operate the facility, completion of which is slated for late 2023. The general contractor for the project is JCT Development, and the architect of record is ELEVEN18 Architecture.
NEW YORK CITY — Locally based investment firm Davean Holdings has purchased a portfolio of three multifamily buildings totaling 19 apartments in Manhattan’s East Village area for $25.5 million. The portfolio includes seven commercial spaces. The buildings were completed between 1900 and 1920 and comprise 15 market-rate units and four rent-stabilized apartments. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of local brokerage firm Rosewood Realty Group represented both Davean Holdings and the seller, the Halegua Family, in the off-market deal.
NEW YORK CITY — Stonehenge NYC has acquired an 88-unit multifamily property at 780 Greenwich St. in between Bank and Bethune streets in Manhattan’s West Village. The six-story, pet-friendly building was originally constructed in 1950 and spans 70,000 square feet. The deal traded off-market, and the seller and sales price were not disclosed. Stonehenge will also manage the property.
BRENTWOOD, N.Y. — New Jersey-based investment firm Faropoint has acquired a 24,000-square-foot industrial building in the Long Island community of Brentwood. The sales price was $4.9 million. According to LoopNet Inc., the property at 180 Heartland Blvd. was built on two acres in 1986 and features a clear height of 18 feet and 1,000 square feet of office space. The seller was not disclosed.
NEW YORK CITY — Meadow Partners, an investment firm with offices in New York and London, has purchased an 89-unit multifamily property in Manhattan’s East Village for $58 million. The adjacent buildings at 305 E. 11th St. and 310 E. 12th St. were originally constructed in 1940 and are connected by an 11,000-square-foot courtyard. Units come in studio, one- and two-bedroom floor plans. An affiliate of Cerberus Capital Management provided debt financing to support the acquisition.
JAMESTOWN AND FREWSBURG, N.Y. — Dwight Mortgage Trust has provided a $27 million bridge loan for the acquisition of a portfolio of four seniors housing properties totaling 293 beds in Western New York. The facilities are located in Jamestown and Frewsburg and offer memory care and assisted living services. Dwight’s Josh Levin originated the financing on behalf of the borrower, Culture Care Senior Living.