NEW YORK CITY — Locally based investment firm A&E Real Estate has acquired a 19-story apartment building located at 400 E. 57th St. in Manhattan’s Sutton Place neighborhood. The property features a mix of 263 rent-stabilized and market-rate units. SL Green sold the property to A&E Real Estate for an undisclosed price. The two firms also traded a multifamily property at 400 E. 58th St. earlier this year.
NEW YORK CITY — A partnership between Simi Capital Group, an investment firm with offices in New York City and Miami, global asset management firm Cerberus Capital Management and Atlanta-based Stonemont Financial has purchased a self-storage facility in Staten Island. The sales price was $19 million. The partnership plans to demolish the building at 2577 Forest Ave. and convert the site into an outdoor storage facility that will feature industrial parking space. Construction is expected to begin early next year.
NEW YORK CITY — NorthMarq has arranged a $17.5 million CMBS loan for the refinancing of Eltingville Shopping Center, a 98,523-square-foot retail property in Staten Island. Tenants include Rite Aid, Advance Auto Parts and Santander Bank. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the 10-year, interest-only loan through an undisclosed direct lender. The borrower was also not disclosed.
NEW YORK CITY — ARRI Rental, a camera, lens and grip equipment rental service company, has signed a 42,000-square-foot industrial lease for its new headquarters space in the Long Island City area of Queens. The three-story property at 47-27 36th St. was built in 2004. Joseph Grotto, Joseph Meyerson and Michael Deutsch of Cushman & Wakefield represented the landlord, JDA Realty Corp., in the lease negotiations. Justin Butts of DY Realty represented the tenant, which expects to open its new facility in the first quarter of next year.
NEW YORK CITY — Extell Development Co. has unveiled plans to develop a 30-story medical office tower on Manhattan’s Upper East Side. The 400,000-square-foot, Class A property will be located at 403 E. 79th St. The site is near several of New York City’s top hospitals and medical research centers, including NewYork-Presbyterian and the main campus of Hospital for Special Surgery (HSS), an academic medical center focused on musculoskeletal health with locations throughout the tri-state area. HSS has signed a long-term lease for approximately 200,000 square feet spread across the first eight floors at the new tower. Mitti Liebersohn and Arthur Mirante of Avison Young represented HSS in the lease negotiations in collaboration with the HSS in-house team of Michael Calabrese, Stephen Bell and Stacey Malakoff. Vincent Carrega represented Extell Development. HSS will house orthopedic and rheumatology physician offices within its office space, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine Center that is set to open in 2024 at the HSS Kellen Tower. “We are pleased to partner with HSS, the foremost hospital for orthopedics and rheumatology, to …
HARRISON, N.Y. — A partnership between Dallas-based Trammell Crow Residential, a subsidiary of Crow Holdings, and Boston-based Marcus Partners is underway on construction of Alexan Harrison, a 450-unit apartment community that will be located about 25 miles north of Manhattan. Alexan Harrison will offer studio, one-, two- and three-bedroom units ranging in size from 507 to 2,135 square feet. A portion of the residences, which will feature stainless steel appliances, granite countertops and individual washers and dryers, will be reserved as affordable housing. Amenities will include two pools and clubhouses, a fitness center, dog park, walking trails, a business center with private offices, wellness center and Amazon package lockers. Construction is scheduled to be complete in April 2024.
NEW YORK CITY — Locally based developer Zara Realty has broken ground on a 223-unit mixed-income project located at 153-10 88th Ave. adjacent to Rufus King Park in Queens. Thirty percent (66) of the units, which will feature studio, one- and two-bedroom floor plans, will be designated as affordable housing. Amenities will include a fitness center, a tenant recreational space, rooftop terrace with gardens and seating areas, electric vehicle charging stations and storage units. Ismael Leyva Architects is designing the nine-story building, and Monadnock Construction Inc. is the general contractor. Completion is slated for 2023.
NEW YORK CITY — Robotics software provider Viam has signed a 10-year, 54,000-square-foot lease to occupy the entire sixth floor of 1900 Broadway, a 321,000-square-foot office building that overlooks Lincoln Center in Manhattan. The eight-story building features a new lobby, multiple conference rooms, café and a wellness room. Frank Doyle, Mitchell Konsker, Barbara Winterm and Carlee Palmer of JLL represented the locally based landlord, Ogden CAP Properties, in the lease negotiations. Ephraim Setton and Troy Gordon with R New York represented Viam.
NEW YORK CITY — The Feil Organization has negotiated a 24,814-square-foot life sciences lease at Seven Penn Plaza, a 411,000-square-foot building located adjacent to Madison Square Garden in Manhattan’s Chelsea neighborhood. The lease term is 10 years. David Turino handled lease negotiations on an internal basis for The Feil Organization, which owns and manages the building. Eva Shih of T3 Advisors represented the tenant, SOSV, a venture capital firm that runs the IndieBio development program for life sciences startups.
SYRACUSE, N.Y. — Square Mile Capital has provided a $47.2 million acquisition loan for 505 on Walnut, a 363-bed student housing property that serves students at Syracuse University. The property, which is fully occupied for the current academic year, features 126 units in one-, two-, three- and four-bedroom layouts. Amenities include a 24-hour fitness center, computer lab, study pods, outdoor sky lounge, community kitchen, pet washing stations and a ground-floor café. Trent Houchin of Newmark arranged the debt on behalf of the borrower, New York City-based CREM Capital.
