TARRYTOWN, N.Y. — Ampacet Corp., a manufacturer of masterbatches, an additive used for coloring plastics, has signed a 35,000-square-foot office lease renewal in the northern New York City suburb of Tarrytown. Jamie Schwartz internally represented the landlord, GHP Office Realty LLC, an affiliate of Houlihan-Parnes Realtors LLC, in the negotiations for the seven-year renewal. The deal brings the property, which GHP acquired in 2017, to full occupancy.
NEW YORK CITY — Transit Wireless has signed a 32,499-square-foot office lease at 1400 Broadway in Manhattan. Michael Gottlieb, Susan Kahaner, Jennifer Ogden and Martin Cottingham of Avison Young represented the tenant, which is relocating to the 37-story building from 1350 Broadway, in the lease negotiations. Scott Klau, Erik Harris, and Neil Rubin of Newmark, along with internal agents Keith Cody and Shanae Ursini, represented the landlord, Empire State Realty Trust.
NEW YORK CITY — Art logistics company Maquette Fine Art Services has signed an industrial lease expansion at The Matsil Building in the Long Island City area of Queens. The company has committed to an additional 56,200 square feet to bring its total footprint to 150,910 square feet. Chris Pachios and Forrest Mas of North River Co., which owns the 282,350-square-foot property in a joint venture with North Colony Asset Management, negotiated the lease. The deal brings the building, which also houses tenants such as Ralph Lauren and Motorola, to full occupancy. Maquette also recently opened a new storage and operating facility in metro Boston.
NEW YORK CITY — Walker & Dunlop Inc. has arranged a $205 million loan for the refinancing of Hudson Research Center in Manhattan’s Midtown West neighborhood. Located along the Hudson River at 619 W. 54th St., the Class A life sciences and medical office property spans 320,000 rentable square feet. Originally built in 1930 as a film-editing house for Warner Brothers Pictures, the Art Deco property came to be known as The Movie Lab Building. Taconic Partners purchased the asset in October 2012 and undertook a capital improvement plan, including creating several floors of research space; updating the building’s façade, interior and crown; and adding tenant amenities such as bike storage and private showers. In 2017, Taconic recapitalized the asset with Silverstein Properties Inc. Since the end of 2013, the number of life sciences jobs nationally has increased by 70,000 per year, according to Walker & Dunlop. Demand for well-located, modernized life sciences and medical office space has soared nationally amid industry growth and lack of available product, adds the finance company. A Walker & Dunlop team led by Aaron Appel and Keith Kurland arranged the loan, with Square Mile providing the funds. The interest-only financing features a floating rate, …
CONGERS, N.Y. — JLL has negotiated the $6.5 million sale of an 81,780-square-foot office property that is situated on 7.5 acres in Congers, about 40 miles north of New York City. JLL represented the seller, The Arc Rockland, an organization that provides services to people of all ages with intellectual and other developmental disabilities, in the transaction. The buyer was Portables Unlimited Inc., a Nanuet-based wholesaler of T-Mobile products.
NEW YORK CITY — A joint venture between investment and development firms Harbor Group International (HGI) and Turnbridge Equities has sold a 90,000-square-foot industrial property leased to Amazon in Brooklyn. The joint venture acquired the property in 2018, when it was vacant, and invested $2.6 million in capital improvements. Institutional investor BentallGreenOak purchased the property for an undisclosed price.
NEW YORK CITY — Connecticut-based developer Dynamic Star has unveiled updated plans for Fordham Landing, a mixed-use project in the University Heights neighborhood of The Bronx that is valued at $3.5 billion, according to Crain’s New York. Current plans call for 3,000 market-rate and affordable housing units, 800,000 square feet of life sciences space, 600,000 square feet of office space, 50,000 square feet of retail space, an 80,000-square-foot public school and 12 acres of open green space. Other uses will include a hotel, esports arena and a senior living community, while the open green space will include a public farm and garden plots. Dynamic Star expects to receive zoning and permitting approvals by the third quarter of 2022 and to deliver the first phase of the project in the first quarter of 2025. The design team includes New York City-based Perkins Eastman, Boston-based NADAAA and Tarrytown, New York-based Margie Ruddick Landscape.
NEW YORK CITY — Locally based real estate private equity firm Madison Realty Capital has provided a $106 million construction loan for Myrtle Point, a mixed-use project that will be located along the Brooklyn-Queens border. Designed by S9 Architecture, the 17-story building will house 130,000 square feet of commercial space that is preleased to two big box retailers and 133 residential units, 30 percent of which will be designated as affordable housing. The borrower was a partnership between developers Arch Cos. and AB Capstone. A tentative completion date was not disclosed.
NEW YORK CITY — Newmark has arranged a $76 million construction-to-perm loan for a last-mile distribution center at 280 Richards St. in Brooklyn that will be occupied by Amazon. Located in the Red Hook neighborhood, the property will span 312,100 square feet and will feature 28 loading docks, 128-foot truck courts and additional rooftop parking for fleet vans and trucks. The borrower and developer is Thor Equities Group, which has owned the site since 2005. Jordan Roeschlaub, Dustin Stolly, Nick Scribani, and Dominick Calisto of Newmark arranged the fixed-rate loan through Apollo Global Management.
NEWBURGH, N.Y. — Third-party logistics firm National Freight Inc. has signed a 60,143-square-foot industrial lease at Northeast Business Center, a 141-acre industrial park in Newburgh, about 70 miles north of Manhattan. Bob Scherrik of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Sekel represented the landlord, National Realty & Development Corp., on an internal basis.