New York

Tishman Speyer Returns to Manhattan’s Chrysler Building With 150-Year Ground Lease, $235M Investment

by John Nelson October 7, 2026

NEW YORK CITY — Tishman Speyer has entered into a 150-year ground lease agreement for the Chrysler Building, with plans to invest $235 million in restorations to the landmark Manhattan office tower at 405 Lexington Ave. New York City-based Tishman Speyer is joined in the transaction by multiple global institutional partners, with the Public Sector Pension Investment Board (PSP Investments) serving as lead investor. Ground-rent fees, which have not been disclosed, will be paid to the landowner, The Cooper Union for the Advancement of Science and Art, a private college in New York’s East Village. Opening in 1930, the 1.3 million-square-foot, 77-story tower was built to house the Chrysler Corp. and features decorative elements inspired by automobile parts, including eagle gargoyles modeled after the hood ornament on the 1929 Plymouth. Tishman Speyer and its partners will use 100 percent equity to finance the ground lease and redevelopment. Plans call for new amenities on the 61st floor featuring a lounge with outdoor access and food-and-beverage offerings. Fitness, wellness and meeting spaces will be situated in the building’s underground arcade, which connects to Grand Central Terminal and Manhattan’s subway system. The renovation investment will also cover restoration of the façade and the …

October 7, 2026

Acquisitions Mixed-Use New York Northeast

Ariel Property Advisors Arranges $11M Sale of Mixed-Use Development Site in Brooklyn

by Taylor Williams October 6, 2026

NEW YORK CITY — Ariel Property Advisors has arranged the $11 million sale of a mixed-use development site in the Gowanus area of Brooklyn. The transit-served site at 604 Union St. formerly housed the Dinosaur Bar-B-Que restaurant and can support 41,406 square feet of buildable product. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel brokered the deal. The buyer, Zelig Weiss, and seller, Simon Vays, are both local developers and investors.

October 6, 2026

Affordable Housing Loans Multifamily New York Northeast

Walker & Dunlop Arranges $170.5M Loan for Refinancing of Harlem Apartment Community

by Taylor Williams October 5, 2026

NEW YORK CITY — Walker & Dunlop has arranged a $170.5 million permanent loan for the refinancing of Lenox Terrace, a 1,696-unit apartment community in Harlem. Opened in 1958, Lenox Terrace primarily offers rent-restricted residences that are housed across six 16-story buildings. Amenities include landscaped green spaces, a dog park and a playground. Jonathan Schwartz, Aaron Appel, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno and Cody Ela of Walker & Dunlop arranged the loan through Chase Commercial Bank on behalf of the owner, The Olnick Organization.

October 5, 2026

Development Industrial New York Northeast

Sterling Organization Nears Completion of 100,000 SF Industrial Project in The Bronx

by Taylor Williams October 2, 2026

NEW YORK CITY — West Palm Beach-based developer Sterling Organization is nearing completion of a 100,000-square-foot industrial project in the Hunts Point neighborhood of The Bronx. The facility at 307 Bruckner Blvd. comprises 46,000 square feet of covered fleet parking and storage space beneath a 46,000-square-foot warehouse that has a clear height of 36 feet, as well as an 8,200-square-foot mezzanine space. Additional features include four loading docks, two drive-in doors and future expansion capabilities. JLL is marketing the facility for lease.

October 2, 2026

Loans Multifamily New York Northeast Seniors Housing

JLL Arranges $41.1M Construction Loan for Long Island Seniors Housing Project

by Taylor Williams October 1, 2026

EAST ISLIP, N.Y. — JLL has arranged a $41.1 million construction loan for Benchmark at East Islip, a seniors housing project on Long Island. Benchmark at East Islip will offer 64 assisted living units and 26 memory care apartments across 104 licensed beds. Amenities will include multiple dining venues, a theater, fitness center, salon and various outdoor spaces. Jim Dooley led the JLL team that arranged the debt on behalf of the borrower, a joint venture between National Development and an affiliate of Benchmark Senior Living. The direct lender was not disclosed. Construction is underway and expected to be complete in early 2028.

October 1, 2026

Loans New York Northeast Retail

Northmarq Places $13.5M in Financing for Retail Property in Middle Island, New York

by Taylor Williams October 1, 2026

MIDDLE ISLAND, N.Y. — Northmarq has placed $13.5 million in financing for Strathmore Commons Shopping Mall, a 146,381-square-foot retail property in the Long Island community of Middle Island. Built in 1991, Strathmore Commons is a grocery-anchored center that is also home to tenants such as McDonald’s, Giunta’s Meat Farms, NYU Langone Health, Gold’s Gym, Subway, Dollar Tree and Carvel. Robert Delitsky and Dylan Hamer of Northmarq arranged the financing through WoodmenLife on behalf of the undisclosed borrower.

October 1, 2026

Acquisitions Development Lee & Associates Multifamily New York Northeast Seniors Housing

Sunrise Senior Living Acquires Development Site on Long Island for $7.5M

by Taylor Williams October 1, 2026

OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a 2.8-acre development site in the Long Island community of Oceanside for $7.5 million, with plans to develop an 84-unit assisted living and memory care facility. Kelly Koukou of Lee & Associates represented Sunrise in the land acquisition. Marlon Matza of Strategic Realty Advisors represented the seller, a partnership between Grossman Nurseries and Breslin Development. A construction timeline was not disclosed.

October 1, 2026

Rechler-Business-District-Medford-New-York

Industrial Loans New York Northeast

JLL Arranges $75M in Financing for Industrial Park in Medford, New York

by Taylor Williams September 30, 2026

MEDFORD, N.Y. — JLL has arranged $75 million in financing for Rechler Business District, a master-planned industrial business park in Medford, located on Long Island. Rechler Business District encompasses a newly constructed, 140,875-square-foot logistics facility that is fully leased, 9.8 acres of industrial outdoor storage (IOS) space that are also fully leased and approximately 45 acres of shovel-ready land. Peter Rotchford and Tyler Peck of JLL arranged the financing through AllianceBernstein on behalf of the owner, Rechler Equity Partners.

September 30, 2026

Acquisitions Affordable Housing Multifamily New York Northeast

Ariel Property Advisors Negotiates $75M Sale of Two Manhattan Apartment Buildings

by Taylor Williams September 30, 2026

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $75 million sale of two Section 8 apartment buildings totaling 126 units in Manhattan. The properties are located at 200 Manhattan Ave. and 133 W. 104th St. in the Manhattan Valley area on the borough’s Upper West Side. Victor Sozio, Shimon Shkury and Remi Mandell of Ariel represented the undisclosed seller in the transaction. The name and representative of the buyer were also not disclosed.

September 30, 2026

Leasing Activity New York Northeast Office

Loeb & Loeb Signs 18,908 SF Office Lease Expansion, Extension in Midtown Manhattan

by Taylor Williams September 30, 2026

NEW YORK CITY — Loeb & Loeb has signed an 18,908-square-foot office lease expansion and 16-year extension at 345 Park Avenue in Midtown Manhattan. The law firm is taking partial space on the 13th floor of the 1.9 million-square-foot building, where it has been a tenant since 1993, bringing its total footprint to 178,959 square feet. Lewis Miller, Ken Rapp, Michael Wellen and Alex Kucera of CBRE represented Loeb & Loeb in the lease negotiations. Robert Steinman represented the landlord, Rudin, on an internal basis.

September 30, 2026

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