NEW YORK CITY — Local developer RXR has begun leasing Eighty Nine Dekalb, a 30-story apartment building located at the nexus of Brooklyn’s downtown area and Fort Greene neighborhood. Designed by local architecture firm Perkins Eastman, the development will have 324 units, 98 of which will be subject to income restrictions. Units will come in studio, one- and two-bedroom floor plans, with private terraces/balconies available in select residences. Amenities will include a fitness center, community lounge, designated dining area, library, coworking spaces, podcast studio, screening room, pet spa, an outdoor fitness space and two patios with grilling stations. Eighty Nine Dekalb will also feature 55,000 square feet of academic and office space for Long Island University. Full completion is slated for early 2026. Rents start at roughly $3,800 per month for a studio apartment.
New York
NEW YORK CITY — ACRES Capital has provided a $40.7 million loan for the refinancing of The Eve, a 76-unit apartment building located in the Crown Heights neighborhood of Brooklyn. The Eve is a seven-story, newly constructed building that offers elevator service and a mix of studio, one- and two-bedroom units. Amenities include a fitness center, resident lounge, children’s playroom, rooftop deck, pet washing station and various outdoor recreational spaces. The name of the borrower was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $13.5 million sale of a 28-unit apartment building on Manhattan’s Lower East Side. The six-story, recently renovated building at 135 Eldridge St. was originally constructed in 1900 and includes two commercial spaces that are leased to Akiko Nails and Ha’s Dac Biet. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
NEW YORK CITY — Westhab Inc., a nonprofit provider of housing and human services, has opened Fort Greene Family Center, a $73 million transitional housing complex in Brooklyn. Aufgang Architects designed the 11-story building, which houses 105 units and was developed in partnership with Slate Property Group. The building also features 1,405 square feet of community facility space and recreational areas for children. In addition, residents have access to a range of onsite social services: job training programs, financial literacy training, youth services and educational support, healthcare coordination and wellness programming.
NEW YORK CITY — JLL has brokered the $54.3 million sale of a multifamily development site in Brooklyn. The site at 970 Franklin Ave. is located in the Crown Heights neighborhood and is approved for the development of up to roughly 290,000 buildable square feet of product across 355 apartments, all within a 10-story building. The Continuum Co. sold the site to private investor Isaac Schwartz. Andrew Scandalios, Ethan Stanton, Brendan Maddigan and Michael Mazzara of JLL represented both parties in the transaction.
NEW YORK CITY — The National Association on Drug Abuse Problems has signed an 11,384-square-foot office lease in Midtown Manhattan. The lease term is roughly 11 years, and the space is located on the 12th floor of 520 Eighth Avenue, a 26-story, 860,000-square-foot building in the Garment District. Matthew Mandell of GFP Real Estate represented the landlord in the lease negotiations on an internal basis. Marc Shapses, Eva Shih and Roi Shleifer of Savills represented the tenant.
NEW YORK CITY — A joint venture between Smith Hill Capital, the commercial real estate debt investment management business of the Procaccianti Cos., and Boston-based Bain Capital has received a $216 million loan for the refinancing of the 774-room Westin New York Grand Central Hotel. The hotel features 18,750 square feet of meeting and event space, a fitness center and a full-service restaurant. The joint venture acquired the hotel in 2019 and undertook renovations in 2021. JLL arranged the debt on behalf of ownership. The direct lender was not disclosed. The hotel first opened in 2012.
RIVERHEAD, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage and Singer Financial have co-arranged a $16 million acquisition loan for Riverhead Medical Office Park on Long Island. Riverhead Medical Office Park consists of six single-story buildings totaling 101,949 square feet that were fully leased at the time of the loan closing. Andrew Stewart and Brandon Szwalbenest of Cronheim Mortgage, in conjunction with Gregg Singer of Singer Financial, arranged the fixed-rate loan on behalf of the owner, Miami-based Candor Capital. The direct lender was an undisclosed life insurance company.
NEW YORK CITY — Locally based brokerage firm TerraCRG has negotiated the $12.4 million sale of a portfolio of four multifamily buildings totaling 17 units in the Red Hook area of Brooklyn. The buildings are located within six blocks of each other along Van Buren Street and include two retail spaces. Daniel Lebor and Matthew Cosentino of TeerraCRG represented the seller, REDHOEK+, in the transaction. Blue Sky Diner Inc. was the buyer. The sales price translates to a cap rate of approximately 6 percent.
NEW YORK CITY — A partnership between LMXD, an affiliate of New York City-based L&M Development Partners, as well as MSquared and Taconic Partners, has begun leasing Miramar, a $416 million apartment complex located at 405-407 W. 206th St. in the Inwood area of Upper Manhattan. The development offers 698 units in studio, one- and two-bedroom floor plans, with private balconies and terraces available in select residences. About half the units are subject to income restrictions, with 40 percent (281 units) reserved as affordable housing for renters earning between 40 and 80 percent of the area median income (AMI), and another 10 percent set aside as workforce housing for households earning up to 120 percent of AMI. Indoor amenities include a fitness center with a yoga studio, coworking lounge with conference space, gaming and media lounges, two private party rooms with wet bars, a multi-sport simulator and a music studio. Outside, residents have access to terraces on both the rooftop and 11th floor that have grilling stations and private dining areas, as well as two landscaped courtyards and an indoor meditation garden on the ground floor. Of the 698 units, 417 are available for immediate occupancy, with market-rate rents starting at …