NEW YORK CITY — Standard Motor Products has signed a 75,000-square-foot office lease renewal in the Long Island City area of Queens. The automotive parts manufacturer and distributor, which was founded in 1919, will remain at its namesake building for another 10 years. William Elder, Andrew Ackerman and Walter Rooney represented the landlord, RXR Realty, in the lease negotiations on an internal basis. William Korchak and Jim McCahon of JLL represented Standard Motor Products.
NEW YORK CITY — Standard Motor Products has signed a 75,000-square-foot office lease renewal in the Long Island City area of Queens. The automotive parts manufacturer and distributor, which was founded in 1919, will remain at its namesake building for another 10 years. William Elder, Andrew Ackerman and Walter Rooney represented the landlord, RXR Realty, in the lease negotiations on an internal basis. William Korchak and Jim McCahon of JLL represented Standard Motor Products.
NEW YORK CITY — Walker & Dunlop Inc.’s New York capital markets team has arranged $388.4 million in construction financing for The Brook, a mixed-use development in downtown Brooklyn consisting of 448,000 rentable square feet of multifamily and retail space. Bank of America provided the funds. Apollo Commercial Real Estate Finance Inc., which is managed by an affiliate of Apollo Global Management, and Witkoff are developing the property at the cross-section of Fulton Street, Flatbush Avenue Extension, and DeKalb Avenue, next to Brooklyn landmarks such as the Fulton Mall and the Barclays Center. The mixed-use property will be split between two development sites, with the eastern site located at 565 Fulton St. and the western site at 547-557 Fulton St. The eastern site will consist of a 51-story mixed-used tower that will feature 561 studio, one- and two-bedroom apartment units utilizing the Affordable New York and Inclusionary Housing programs, as well as approximately 30,000 square feet of common space. Amenities will include a pool with cabanas, dog park, fitness center, half basketball court and multiple resident lounges. The base of the building will feature 17,200 square feet of ground-level retail space. The western site will consist of approximately 14,000 square feet of retail space next to Albee Square and is poised to attract retail brands and wholesalers looking to establish or strengthen their foothold in Brooklyn. …
NEW YORK CITY — Walker & Dunlop Inc.’s New York capital markets team has arranged $388.4 million in construction financing for the Brook, a mixed-use development in downtown Brooklyn consisting of 448,000 rentable square feet of multifamily and retail space. Bank of America provided the funds. Apollo Commercial Real Estate Finance Inc., which is managed by an affiliate of Apollo Global Management, and Witkoff are developing the property at the cross-section of Fulton Street, Flatbush Avenue Extension, and DeKalb Avenue, next to Brooklyn landmarks such as the Fulton Mall and the Barclays Center. The mixed-use property will be split between two development sites, with the eastern site located at 565 Fulton St. and the western site at 547-557 Fulton St. The eastern site will consist of a 51-story mixed-used tower that will feature 561 studio, one- and two-bedroom apartment units utilizing the Affordable New York and Inclusionary Housing programs, as well as approximately 30,000 square feet of common space. Amenities will include a pool with cabanas, dog park, fitness center, half basketball court and multiple resident lounges. The base of the building will feature 17,200 square feet of ground-level retail space. The western site will consist of approximately 14,000 square feet of retail space next to Albee Square and is poised to attract retail brands and wholesalers looking to establish or strengthen their foothold in Brooklyn. …
NEW YORK CITY — Digital marketing agency Huge Inc. has signed a 71,000-square-foot office headquarters lease at Dock 72, a 675,000-square-foot waterfront office building located within the Brooklyn Navy Yard. The tenant will relocate from 45 Main Street to the top two floors of Dock 72 in the first quarter of 2023, joining existing tenants WeWork and Food52. Cara Chayet, David Hollander, Liz Lash and Ken Rapp of CBRE, along with internal agent Winter Stockwell, represented Huge in the lease negotiations. Joe Cirone, Ron Lo Russo, Patrick Dugan and Pierce Hance of Cushman & Wakefield, along with Sacha Zarba and Freddie Fackelmayer of CBRE and internal agents Andrew Levin and Robert Steinman, represented the landlord, a partnership between Boston Properties and Rudin.
NEW YORK CITY — Digital marketing agency Huge Inc. has signed a 71,000-square-foot office headquarters lease at Dock 72, a 675,000-square-foot waterfront office building located within the Brooklyn Navy Yard. The tenant will relocate from 45 Main Street to the top two floors of Dock 72 in the first quarter of 2023, joining existing tenants WeWork and Food52. Cara Chayet, David Hollander, Liz Lash and Ken Rapp of CBRE, along with internal agent Winter Stockwell, represented Huge in the lease negotiations. Joe Cirone, Ron Lo Russo, Patrick Dugan and Pierce Hance of Cushman & Wakefield, along with Sacha Zarba and Freddie Fackelmayer of CBRE and internal agents Andrew Levin and Robert Steinman, represented the landlord, a partnership between Boston Properties and Rudin.
SARATOGA SPRINGS, N.Y. — Financial advisory firm Axiom Capital Corp. has arranged a $12.3 million permanent loan for the acquisition of a 62,980-square-foot neighborhood shopping center in the upstate New York community of Saratoga Springs. The center sits on a 5.4-acre site, includes 298 parking spaces and is home to tenants such as Hello Nails and The UPS Store. The names of the locally based borrower, a family-owned development and management group, and direct lender, a local bank, were not disclosed.
NEW YORK CITY — Burlington Stores Inc. has signed a 34,591-square-foot office lease expansion at 1400 Broadway in Manhattan’s Garment District. The New Jersey-based apparel and accessories retailer now occupies 102,898 square feet across three floors at the 37-story building, which was originally constructed in 1930. Scott Klau, Neil Rubin and Erik Harris of Newmark represented the landlord, Empire State Realty Trust, in the lease negotiations. Alan Desino of Colliers represented Burlington.
NEW YORK CITY — Burlington Stores Inc. has signed a 34,591-square-foot office lease expansion at 1400 Broadway in Manhattan’s Garment District. The New Jersey-based apparel and accessories retailer now occupies 102,898 square feet across three floors at the 37-story building, which was originally constructed in 1930. Scott Klau, Neil Rubin and Erik Harris of Newmark represented the landlord, Empire State Realty Trust, in the lease negotiations. Alan Desino of Colliers represented Burlington.
BAY SHORE, N.Y. — New York City-based Rockefeller Group is underway on construction of a 172,622-square-foot speculative distribution center in the Long Island community of Bay Shore. The property at 55 Paradise Lane will feature a clear height of 36 feet, 40 dock doors, 270 car parking spaces, 40 trailer parking stalls and 7,317 square feet of mezzanine-level office space. Manhattan-based KSS Architects designed the project, and Aurora Contractors is handling construction. Completion is slated for the first quarter of next year.