New York

Prime-NYC-Self-Storage-Portfolio

NEW YORK CITY — Affinius Capital has provided a $120 million loan for the refinancing of the Prime NYC Self-Storage Portfolio, a collection of three self-storage facilities totaling 7,230 units in New York City. The names and addresses of the properties, which exclusively offer climate-controlled space, were not disclosed, but the locations span Brooklyn, Queens and The Bronx. Drew Anderman of CBRE arranged the loan through Affinius Capital on behalf of the owner, Prime Group Holdings. Miami-based lender 3650 Capital provided an undisclosed amount of junior mezzanine financing for the deal.

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NEW YORK CITY — Tutor Perini Corp. has signed a 27,990-square-foot, six-year office lease in Midtown Manhattan. The general contractor will occupy part of the eighth floor at 520 Eighth Avenue and the entire ninth floor at 266 West 27th Street, two interconnected buildings that share a lobby. Matthew Mandell of GFP Real Estate represented the landlord in the lease negotiations on an internal basis.

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NEW YORK CITY — Civic Entertainment Group has signed a 12,180-square-foot office lease at 740 Broadway in Manhattan’s NoHo neighborhood. The marketing agency’s footprint in the submarket now totals 27,180 square feet, including its 15,180 square feet of existing space across the entire second floor at 440 Lafayette Street, an interconnected building. That lease was also extended by seven years. GFP Real Estate owns both buildings.

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NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $8.9 million sale of a 55,000-square-foot multifamily development site in Harlem. The site at 7-11 E. 115th St. features 135 feet of frontage and can support 68,000 buildable square feet of residential product under the ‘City of Yes’ initiative, as well as an 88,000-square-foot community facility. Shimon Shkury, Victor Sozio, Alexander Taic, Michael Tortorici and Erik Moloney of Ariel represented the seller, Global Asset Management Inc., in the deal. Hillstone Properties NY represented the buyer, Kodra Construction.

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NEW YORK CITY — HKS Real Estate Advisors has arranged $6.9 million in acquisition financing across two loans for a trio of apartment buildings totaling 22 units in Brooklyn. The buildings at 104 and 112 Fort Greene Place offer a combined 16 units, while the building at 1094 Dean St. has six units. Derby Copeland Capital provided both loans, which totaled $4.5 million and $2.4 million, respectively. Michael Lee and Jacob Kaufman of HKS arranged the loans on behalf of the borrower, Lloyd Properties.

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WEBSTER, N.Y. — Locally based brokerage firm Endeavor Real Estate Group has arranged the sale of the 328-unit Country Manor Apartments in Webster, located outside of Rochester in upstate New York. Built in phases between the late 1960s and early 1970s, the garden-style property offers one- and two-bedroom units and amenities such as a leasing office with a shared conference room, fitness center, pool, picnic areas, tennis courts and a dog park. Manhattan-based private equity firm PH Realty Capital sold Country Manor Apartments to metro Philadelphia-based multifamily owner-operator Morgan Properties for an undisclosed price. James Buckley and Patrick Salvato of Endeavor brokered the deal.

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CLIFTON PARK, N.Y. — Locally based firm Standard Brokerage Co. has negotiated the sale of a portfolio of two industrial buildings totaling 153,400 square feet that are situated “at and around” 620 Van Patten Drive in Clifton Park, located outside of Albany. According to LoopNet Inc., the building at 620 Van Patten Drive was built in 2001 and totals 38,400 square feet. The sale included 27 adjacent acres that can support new industrial development. The buildings were leased to four tenants at closing. The buyer and seller were not disclosed.

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NEW YORK CITY — Grammarly has signed a 23,038-square-foot office lease in Midtown Manhattan. The provider of AI-supported writing assistance services will occupy the entire eighth floor at 360 Park Avenue South, a 450,000-square-foot building that was recently repositioned. Justin Haber and Kyle Riker of JLL represented Grammarly in the lease negotiations. Peter Turchin, Gregg Rothkin, Ross Zimbalist, Arkady Smolyansky, Hayden Pascal and Trevor Larkin from CBRE represented the landlord, Boston Properties (BXP).

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The-Perennial-Queens

NEW YORK CITY — A partnership between two local owner-operators, Foxy Development and Selfhelp Realty Group, has broken ground on The Perennial, a $150 million affordable housing project that will be located in the Forest Hills neighborhood of Queens. The project is a conversion of the former Parkway Hospital building, which has been shuttered since 2008. Of the 145 total units, 124 will be senior units, 44 residences within which will be reserved for formerly homeless individuals. The remaining apartments will be family units. All residences will be reserved for households earning 50 percent or less of the area median income. Project partners include architect Newman Design, Cityscape Engineering, Suffolk Construction and MEP engineer Mottola Rini. TD Bank provided construction financing for the project, and The Community Preservation Corp. will provide permanent financing. Construction is expected to be complete in late 2027.

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YONKERS, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged a $10.3 million loan for the refinancing of a two-building, mixed-use portfolio in Yonkers, located north of New York City. The portfolio consists of Nepperhan Plaza, an office and retail building, and YoHo Lofts, a multi-story industrial loft building that has been converted to artist housing. The names of the direct lender and borrower were not disclosed.

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