New York

Adirondack Capital Partners Negotiates $30.7M Sale of Apartment Complex in Wilton, New York

by Taylor Williams August 5, 2025

WILTON, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $30.7 million sale of McGregor Village Apartments, a 212-unit multifamily complex in Wilton, about 40 miles north of Albany. McGregor Village offers one- and two-bedroom units and amenities such as a fitness center, clubhouse and a playground. Michael Hunter Coghill and Chad Sinsheimer of Adirondack Capital Partners represented the buyer, New York-based investment firm Elar Group, in the transaction. The seller, Bruce Tanski Construction, was self-represented.

August 5, 2025

Civic Leasing Activity New York Northeast Office

Boys’ Club of New York Signs 33,000 SF Lease in The Bronx

by Taylor Williams August 5, 2025

NEW YORK CITY — The Boys’ Club of New York has signed a 25-year, 33,000-square-foot lease in The Bronx. The nonprofit organization will occupy the entire building at 565 Morris Ave., which previously housed an early education center for Sheltering Arms. The space will be retrofitted to feature classrooms for music, arts and media, as well as audio engineering and computer labs and spaces that support athletics and gaming. The new clubhouse will also include a cooking and a hydroponics area. Stephen Powers, Lindsay Ornstein, Alexander Smith, and Chloe Holder of OPEN Impact Real Estate represented The Boys’ Club in the negotiations for the 25-year lease. Jordan Kaplan, Dean Rosenzweig, Jeremy Scholder and Jojo Lewis of CBRE represented the landlord, Bronx Realty Group.

August 5, 2025

Loans Multifamily New York Northeast

Wells Fargo Provides $249.2M Agency Loan for Refinancing of Manhattan Apartment Tower

by Taylor Williams August 4, 2025

NEW YORK CITY — Wells Fargo has provided a $249.2 million Fannie Mae loan for the refinancing of Anagram NoMad, a 50-story apartment tower located in the Manhattan neighborhood of the same name. Anagram NoMad offers 392 units in studio, one-, two- and three-bedroom floor plans. Amenities include an indoor and outdoor rooftop lounge with a bar, a game room and lounge spaces; a gym with a climbing wall and yoga studio; a resident café; a coworking space with a conference and telephone rooms; a children’s playhouse; a library; and a private garden lawn. Andrew Cohen and Shane Hogan of Wells Fargo originated the financing on behalf of the owner, Global Holdings Management Group, which will use the proceeds to refinance an existing Wells Fargo balance sheet loan.

August 4, 2025

Affordable Housing Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $40M Acquisition Loan for Affordable Seniors Housing Property in The Bronx

by Taylor Williams August 1, 2025

NEW YORK CITY — Greystone has provided a $40 million bridge loan for the acquisition of Kittay House, a 295-unit affordable seniors housing property in The Bronx. Kittay House offers dozens of onsite social, recreational and educational programs, as well as meals, housekeeping and easy access to healthcare and supportive services. Eric Rosenstock and Jeff Englund of Greystone originated the nonrecourse, interest-only financing on behalf of the owner, a joint venture between Metropolitan Realty Group and Citadel Care Centers. The loan also carried a 24-month term with two six-month extension options.

August 1, 2025

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $15.7M Sale of Multifamily Property in Yorktown Heights, New York

by Taylor Williams August 1, 2025

YORKTOWN HEIGHTS, N.Y. — Marcus & Millichap has brokered the $15.7 million sale of York Farm Estates, a 77-unit multifamily property located about 45 miles north of New York City. Built in 1996, the property offers townhouse-style units in one-, two- and three-bedroom floor plans. The average unit size is 847 square feet, and the property has value-add potential. Matthew Gault, Seth Glasser, Michael Turkiewicz and Michael Fusco of Marcus & Millichap represented the seller, HVT Realty, in the transaction. The team also procured the buyer, Westchester Management LLC.

August 1, 2025

Leasing Activity New York Northeast Office

The Conference Board Signs 30,171 SF Office Lease in Midtown Manhattan

by Taylor Williams August 1, 2025

NEW YORK CITY — The Conference Board Inc. has signed a 30,171-square-foot office lease in Midtown Manhattan. The global think tank and nonprofit organization is relocating to the entire ninth floor of 875 Third Avenue, a 29-story building, via a 20-year lease. Erik Schmall and Scott Weiss of Savills represented the tenant in the lease negotiations. Paul Glickman, Diana Biascotti, Kristen Morgan and Harris Potter of JLL, along with internal agents Craig Panzirer and Alex Radmin, represented the landlord, Global Holdings.

August 1, 2025

Loans Multifamily New York Northeast

Joint Venture Receives $205M Bridge Loan for Brooklyn Apartment Complex

by Taylor Williams July 31, 2025

NEW YORK CITY — A joint venture between two locally based development and investment firms, Domain Cos. and Silverstein Properties, has received a $205 million bridge loan for 420 Carroll Street, a 360-unit apartment complex located in the Gowanus area of Brooklyn. The property consists of two buildings that rise 16 and 21 stories and house 35 studios, 150 one-bedroom units, 64 two-bedroom residences and 20 three-bedroom apartments, 25 percent of which are reserved as affordable housing. Amenities include a resident clubroom and library, media and game room, demonstration kitchen with private dining space, a fitness center with a yoga studio, waterfront park, outdoor grilling and dining areas and a rooftop terrace. The property also features 12,000 square feet of ground-floor retail space, as well as 14,700 square feet of second-floor commercial space. Christopher Peck, Peter Rotchford and Nicco Lupo of JLL arranged the loan through global investment management firm AllianceBernstein.

July 31, 2025

Brownsville-Arts-Center-&-Apartments-Brooklyn

Affordable Housing Development Multifamily New York Northeast

Partnership to Develop $254M Affordable Housing Project Near Downtown Brooklyn

by Taylor Williams July 30, 2025

NEW YORK CITY — A partnership between Gilbane Development, Blue Sea Development and Artspace Projects Inc. will develop the Brownsville Arts Center & Apartments, a $254 million affordable housing project that will be located on a city-owned tract at 366 Rockaway Ave. near downtown Brooklyn. The property will offer 283 units in studio, one-, two- and three-bedroom units that will be reserved for renters earning between 30 and 70 percent of the area median income. The Brownsville Arts Center & Apartments will also feature a 28,000-square-foot cultural arts center with a 3,440-square-foot, multi-purpose performance, rehearsal and studio space for community arts groups. Various city housing agencies and authorities have committed nearly $100 million in subsidized financing for the project, construction of which is set to begin before the end of the summer and to be complete in 2027.

July 30, 2025

Loans Multifamily New York Northeast

Affinius Capital Funds $340M Loan for Refinancing of Brooklyn Apartment Community

by Taylor Williams July 29, 2025

NEW YORK CITY — Affinius Capital has funded a $340 million loan for the refinancing of 313 Bond, a 603-unit apartment community that is under construction in the Gowanus area of Brooklyn. The borrower, locally based developer Sky Equity Group, will use the proceeds to retire existing debt, complete construction of the two-building development and lease the property to stabilization. Upon completion, 313 Bond will feature 149 studios, 313 one-bedroom units and 141 two-bedroom apartments, as well as 51,600 square feet of retail space. Amenities will include fitness centers, three rooftop terraces, a library, game lounge, coworking spaces and package lockers. Henry Bodek of Galaxy Capital arranged the loan.

July 29, 2025

Leasing Activity New York Northeast Office Top Stories

Verizon Selects PENN 2 in Manhattan for New Corporate Headquarters, to Occupy Nearly 200,000 SF

by John Nelson July 29, 2025

NEW YORK CITY — Telecommunications giant Verizon (NYSE: VZ) has selected the PENN 2 office tower in Midtown Manhattan for its new corporate headquarters. The company will staff approximately 1,000 employees at its new office. Verizon signed a 19-year lease with the landlord, Vornado Realty Trust (NYSE: VNO), to occupy approximately 200,000 square feet of space on floors eight through 10. The timeline for Verizon’s occupancy at PENN 2 was not released. Josh Kuriloff, Peyton Horn, Heather Thomas and Kyle Ernest of Cushman & Wakefield represented Verizon in the lease negotiations. Glen Weiss, Josh Glick, Jared Silverman and Anthony Cugini represented Vornado on an internal basis. Located directly above the Penn Station public transit hub, PENN 2 offers direct access to 15 subway lines, the Long Island Railroad, New Jersey Transit, PATH, Amtrak and the upcoming Metro-North Railroad, which is scheduled to debut in 2027. Other tenants at PENN 2 include Major League Soccer, MSG Entertainment Corp. (operator of nearby Madison Square Garden) and Universal Music Group, which recently signed an 88,000-square-foot lease at the tower. As part of the lease agreement, Verizon employees at PENN 2 will have exclusive access to more than 25,000 square feet of outdoor space at …

July 29, 2025

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