RENSSELAER, N.Y. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Rosewood Rehabilitation & Nursing Center in Rensselaer, located just across the Hudson River from Albany. The 80-bed skilled nursing facility was originally developed in the mid-1970s. Prior to the sale, the private ownership group completed capital investments including interior renovations, operational equipment upgrades and technological enhancements. The property was above 90 percent occupied at the time of sale. The buyer and seller were not disclosed.
NEW YORK CITY — Newmark has negotiated an 8,718-square-foot retail lease for luxury accessories provider Valentino at 135 Spring St. in the Soho area of Manhattan. The new store spans 4,424 square feet on the ground floor and 4,294 square feet on the second level. Newmark’s Ariel Schuster, Ross Berkowitz and Brandon Miller represented the landlord, Invesco Real Estate, in the lease negotiations.
NEW PALTZ, N.Y. — Kempner Properties, an investment firm based in metro New York City, has acquired Paltz Commons, a 36-unit multifamily property in New Paltz, located roughly midway between Albany and New York City. Built in 1966, the garden-style property consists of three buildings and was fully occupied at the time of sale. The new ownership plans to implement a value-add program focused on improving the unit interiors, common areas, building exteriors and landscaping.
NEW YORK CITY — Locally based firm Ariel Property Advisors has placed a $6 million loan for the refinancing of a 93-unit multifamily portfolio that comprises three rent-stabilized properties in Manhattan’s Washington Heights area. Matt Dzbanek of Ariel Property Advisors originated the financing, which allowed the undisclosed borrower to receive $3 million cash back to address capital expenditures. The exact locations of the properties were also undisclosed. The borrower, a family office, has owned the portfolio since 1971.The lender is a privately held entity that provides bridge and construction loans off of its fully discretionary balance sheet.
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.