New York

JLL Arranges $387.5M Sale of Manhattan Multifamily Property

by Taylor Williams October 7, 2022

NEW YORK CITY — JLL has arranged the $387.5 million sale of 685 1st Avenue, a 408-unit multifamily property in Manhattan’s Murray Hill neighborhood. Built in 2018, the property rises 43 stories and houses 408 market-rate residential units, 148 condominiums and 9,693 square feet of commercial space. Amenities include a pool, fitness center, coworking lounge, media room and a children’s play area. Rob Hinckley, Jeff Julien, Scott Panzer, Andrew Scandalios, Steve Rutman, John Taylor, Jon Faxon and Joy Ryoo of JLL represented the seller, Solow Building Co., in the transaction. The team also procured the buyer, GO Partners, which is a joint venture between two private investors.

October 7, 2022

Leasing Activity New York Northeast Office

Applause Signs 17,500 SF Office Lease at 355 Lexington Avenue in Manhattan

by Taylor Williams October 6, 2022

NEW YORK CITY — Applause, a Massachusetts-based provider of digital testing and quality control services, has signed a 17,500-square-foot office lease at 355 Lexington Avenue in Manhattan. Chris Foerch of Savills represented the tenant, which plans to take occupancy of the entire seventh floor later this month, in the lease negotiations. Robert Steinman internally represented the landlord, Rudin, which originally developed the 270,000-square-foot building in 1959.

October 6, 2022

Leasing Activity New York Northeast Office

Impact.com Signs 18,364 SF Office Lease at 136 Madison Avenue in Manhattan

by Taylor Williams October 5, 2022

NEW YORK CITY — Marketing and technology firm Impact.com has signed an 18,364-square-foot office lease at 136 Madison Avenue in Midtown Manhattan. The 17-story, 300,000-square-foot building houses tenants such as Syracuse University, Regus, Bernhardt Furniture, Wacoal and Green Key. Eric Cagner of Newmark and Alex Leopold of CBRE represented the tenant, which plans to relocate from the Empire State Building to the entire 10th floor at the end of the year, in the lease negotiations. Mac Roos of Colliers represented the landlord, Williams Equities.

October 5, 2022

Acquisitions New York Northeast Office

Interra Capital Acquires 323,431 SF Office Building in White Plains, New York

by Taylor Williams October 4, 2022

WHITE PLAINS, N.Y. — Houston-based investment firm Interra Capital Group has acquired a 323,431-square-foot office building located on a 21-acre site at 1311 Mamaroneck Ave. in White Plains, located north of New York City. Jeffrey Dunne, Steve Bardsley, Travis Langer, Patrick Arangio, Jack Howard and Kurt Altvater of CBRE represented the undisclosed seller and procured Interra Capital Group as the buyer in the transaction. The building was 53 percent leased at the time of sale.

October 4, 2022

Acquisitions Multifamily New York Northeast

Friedkin Property Group Acquires White Plains Multifamily Property for $113M

by Taylor Williams October 3, 2022

WHITE PLAINS, N.Y. — San Francisco-based Friedkin Property Group has acquired Windsor at the Gramercy, a 260-unit multifamily property located north of New York City in White Plains, for $113 million. Built in 2003, the property features one- and two-bedroom units that are furnished with stainless steel appliances, built-in workstations, breakfast bars, walk-in closets, full-sized washers and dryers and private balconies/patios. Amenities include a pool, fitness center, theater, clubhouse, billiards room and a dog park. Jeff Dunne, Eric Apfel, Jeremy Neuer, Stuart MacKenzie and Zach McHale of CBRE represented the seller, institutional investment firm GID, in the transaction.

October 3, 2022

Leasing Activity New York Northeast Office

Franklin Templeton Signs 347,474 SF Office Lease at One Madison Avenue in Manhattan

by Taylor Williams October 3, 2022

NEW YORK CITY — Financial services and investment management firm Franklin Templeton has signed a 347,474-square-foot lease at One Madison Avenue, an office building in Midtown Manhattan that is currently under construction. One Madison Avenue, which is scheduled for a November 2023 completion, is now 55 percent preleased. Other tenants include IBM (328,000 square feet) and Chelsea Piers Fitness (56,000 square feet). Rob Lowe, Jeff Cushman and John Cushman of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Glickman, Alex Chudnoff, Diana Biasotti and Ben Bass of JLL represented the landlord, SL Green.

October 3, 2022

Acquisitions Multifamily New York Northeast

Sapphire Acquisitions Buys Manhattan Residential Building for $6.7M

by Taylor Williams October 3, 2022

NEW YORK CITY — Sapphire Acquisitions has purchased a single-room occupancy (SRO) residential building located at 342 W. 71st St. on Manhattan’s Upper West Side for $6.7 million. The property houses 126 units, equating to a sales price of roughly $53,000 per unit. Michael Ferrara and Alan Stenson of Brax Realty represented the seller, Riverside Studios, in the off-market transaction and procured Sapphire Acquisitions as the buyer.

October 3, 2022

Loans Multifamily New York Northeast Northmarq

Northmarq Arranges $9M Loan for Refinancing of Multifamily Building in White Plains, New York

by Taylor Williams September 30, 2022

WHITE PLAINS, N.Y. — Northmarq has arranged a $9 million loan for the refinancing of Tireno Towers, a 54-unit multifamily building located north of New York City in White Plains. Built in the late 1960s, the property offers studio, one- and two-bedroom units, and three office suites are in the process of being converted to residential use. Robert Ranieri of Northmarq arranged the 10-year loan, which was structured with one year of interest-only payments and a 30-year amortization schedule, through an undisclosed regional bank. The borrower was also not disclosed.

September 30, 2022

Leasing Activity New York Northeast Retail

Beyond Van Gogh to Open 28,000 SF Exhibition Gallery at Samanea New York

by Taylor Williams September 30, 2022

WESTBURY, N.Y. — Beyond Van Gogh, a traveling concept dedicated to providing immersion in the artist’s works, will open a 28,000-square-foot exhibition gallery at Samanea New York, a shopping, dining and entertainment destination on Long Island. Beyond Van Gogh will open on Nov. 18 and run through Jan. 8. Matthew Kucker, Jordan Baruch and Herbert Agin at Colliers represented the landlord, Lesso Mall Development, in the lease negotiations. Other entertainment users at Samanea New York include Empire Adventure Park, X-Golf and Ryco’s Escape Room.

September 30, 2022

Loans Multifamily New York Northeast Northmarq

Northmarq Arranges $50M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams September 29, 2022

NEW YORK CITY — Northmarq has arranged a $50 million loan for the refinancing of The Lewis Steel Building, an 83-unit apartment building in Brooklyn’s Williamsburg neighborhood. The five-story property, which includes 13,285 square feet of ground-floor commercial space, was originally constructed in the 1930s as a steel factory and converted to residential use in 2015. Robert Ranieri of Northmarq arranged the loan, which carried a five-year term with two years of interest-only payments followed by a 30-year amortization schedule, through an undisclosed regional bank. The borrower was also not disclosed.

September 29, 2022

Newer Posts

Older Posts