NEW YORK CITY — Ghost kitchen operator Kitchen United has opened a 6,400-square-foot space at 307 W. 38th St. in Midtown Manhattan where it will offer takeout and delivery of brands such as Wingstop, Jersey Mike’s Subs and Chili’s, among others. The location is the third in New York City for Kitchen United, which also recently software and ghost kitchen developer, Zuul. The acquisition saw Zuul’s existing locations in the Soho and Hudson Yards neighborhoods rebranded as a Kitchen United MIX centers last month.
ELMONT, N.Y. — New York Arena Partners, a group comprised of Oak View Group, Sterling Project Development and the New York Islanders, has completed construction of UBS Arena, a 745,000-square-foot venue in the Long Island community of Elmont that will serve as the NHL team’s new home. Designed by Populous and JRDC Urban Architecture specifically for hockey and music events, the 17,250-seat arena features a seating bowl that is pushed further toward the ice than in standard basketball-first arenas. The design team also added certain elements to limit sound reverberation and echoes throughout the venue. UBS Arena also includes 10 bars, a 23,000-square-foot locker room and players’ campus, weight and equipment rooms, training areas, offices and video rooms. Musical artists playing at the venue will have access to private spaces with lounges, dressing rooms and dedicated dining areas.
HORSEHEADS, N.Y. — Micatu Inc., a provider of optical sensing technology, will open a 40,000-square-foot manufacturing facility in the Upstate New York community of Horseheads. The company also recently completed an expansion of its office and training facilities. Upon completion of the project, which is scheduled for the first quarter of next year, Micatu’s total footprint will span 50,000 square feet. The company also expects to hire about 25 new employees.
NEW YORK CITY — Union Square Events, a locally based catering company, has opened a 70,000-square-foot headquarters space at Industry City, a 35-acre mixed-use development in Brooklyn. The new headquarters will include a 33,000-square-foot commissary kitchen, a 120-seat dining room for employees and traditional office space. A partnership between Belvedere Capital, Jamestown and Angelo Gordon owns Industry City.
NEW YORK CITY — Taconic Partners and National Real Estate Advisors (NREA) will develop a 33-story multifamily building at 312 W. 43rd St. in Manhattan’s Hell’s Kitchen neighborhood. Designed by Handel Architects, the project will consist of 330 rental units, 40,000 square feet of retail space and 30,000 square feet of indoor and outdoor amenity space. The amenity package will include a pool, rooftop terrace, workspaces and private gardens. Avison Young arranged $204 million in construction financing through The Union Labor Life Insurance Co. for the project, completion of which is slated for mid-2024.
NEW YORK CITY — Marcus & Millichap has brokered the $55.5 million sale of the 531-room Martinique New York hotel, located at the corner of Broadway and 32nd Street in Manhattan. Eric Anton and Nelson Lee led a Marcus & Millichap team that represented the seller, New York-based Herald Hotel Associates LP, in the transaction. The buyer was Oklahoma City-based Burnett Equities. Marcus & Millichap also represented the new ownership in negotiations for several retail leases that were recently signed at the property.
YONKERS, N.Y. — Walker & Dunlop has arranged a $160 million loan for the refinancing of Sawyer Place, a 438-unit multifamily property located outside of New York City in Yonkers. Built in 2020, the two-building complex features 31,000 square feet of ground-floor retail space, a 553-space parking garage and amenities such as a landscaped terrace, fitness center and an indoor theater. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Ianno and Sean Bastian of Walker & Dunlop arranged the floating-rate, nonrecourse financing, which retires the original construction loan, through Mesa West Capital. The borrower was locally based development and investment firm RXR Realty.
NEW YORK CITY — Developer and operator StorQuest Self Storage has opened a new facility at 155 King St. in the Red Hook neighborhood of Brooklyn. The number of units was not disclosed, but the five-story property spans approximately 84,000 net rentable square feet. Construction began in mid-2020. The property is StorQuest’s second in Brooklyn and 10th in the state of New York.
NEW YORK CITY — Los Angeles-based PCCP LLC has provided a loan of an undisclosed amount for the refinancing of 80 Broad Street, a 36-story office tower in Manhattan’s Financial District. The 423,777-square-foot building was originally constructed in 1931 and includes 12,385 square feet of retail space and private terraces on select floors. Ken Ziebelman, Grant Frankel and Ethan Pond of Eastdil Secured arranged the loan on behalf of the borrower, a joint venture between New York City-based Broad Street Development and Invesco Real Estate. Since 2018, ownership has invested more than $9 million in capital improvements to the property.
BUFFALO, N.Y. — San Francisco-based mortgage banking firm Gantry has arranged a trio of loans totaling $31.9 million for the refinancing of three multifamily properties totaling 426 units in Upstate New York. In the first deal, a correspondent agency lender provided a 10-year loan that carried a fixed interest rate, five years of interest-only payments and a 30-year amortization schedule for a 181-unit property in Central New York. In the second transaction, a life insurance company funded a 20-year loan that was also structured with a fixed rate and multiple years of interest-only payments for a 176-unit asset in Buffalo. A Wall Street-based lender provided the final loan with similar terms for a 69-unit property in Rochester. Tom Grzebinski and Jack Stelianou of Gantry placed all three loans on behalf of undisclosed borrowers.