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LoansMultifamilyNew YorkNortheast

Affinius Capital Provides $36M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital has provided a $36 million loan for the refinancing of 1885 Atlantic Avenue, an 89-unit apartment building in Brooklyn. The property is located in the Stuyvesant Heights neighborhood and offers studio, one-, two- and three-bedroom units. According to StreetEasy, amenities include a fitness center, rooftop deck, media room, package room and onsite laundry facilities. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, New York-based developer The Jay Group, which will also use proceeds to fund leasing costs.

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Leasing ActivityNew YorkNortheastOffice

Huge Inc. Signs 16,909 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Huge Inc. has signed a 16,909-square-foot office lease in Midtown Manhattan. The global design and technology company will occupy the entire eighth floor of the 12-story building at  53 W. 23rd St. Jeff Buslik, Brad Cohn and Alan Bonett of Adams & Co. represented the landlord, an entity doing business as 23 R.P. Associates LLC, in the lease negotiations. Gabe Marans and David Mahoney of Savills represented the tenant.

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The-Dome-at-210-Greenpoint-Brooklyn
LoansMultifamilyNew YorkNortheast

Affinius Capital Funds $46M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital has funded a $46 million loan for the refinancing of The Dome at 210 Greenpoint, a 70-unit apartment building in Brooklyn. The property offers studio, one-, two- and three-bedroom units along with 6,200 square feet of retail space. According to StreetEasy, amenities include a fitness center, rooftop deck, bike room, package room and onsite laundry facilities. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, New York-based developer The Jay Group, which will also use proceeds to fund leasing costs.

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LoansMultifamilyNew YorkNortheast

Greystone Provides $30M in Agency Financing for Apartment Building in Manhattan

by Taylor Williams

NEW YORK CITY — Greystone has provided $30 million in Freddie Mac financing for Sloane Chelsea, a 266-unit apartment building in Manhattan. Originally built in 1930 and renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units and amenities such as a fitness center, laundry facilities and private storage space. Recent upgrades to the property include renovations to 180 units and a planned elevator modernization. Robert Meehan led the transaction for Greystone. The borrower was not disclosed.

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Leasing ActivityNew YorkNortheastRetail

SuperFresh to Open 22,500 SF Grocery Store at Ruby Square in Queens

by Taylor Williams

NEW YORK CITY — SuperFresh will open a 22,500-square-foot grocery store in Queens. The lease term is 25 years. The store at 166-20 90th Ave. is located in the Jamaica neighborhood within Ruby Square, a 614-unit, newly developed apartment building by BRP Cos. Hymie Dweck of RIPCO Real Estate represented SuperFresh in the lease negotiations. BRP Cos. was self-represented. The opening is set for next spring.

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AcquisitionsMultifamilyNew YorkNortheast

Partnership Acquires Manhattan Apartment Building for $30M

by Taylor Williams

NEW YORK CITY — A partnership between Slate Property Group and Avenue Realty Capital has acquired 81 Franklin, an 11-unit apartment building in Manhattan’s Tribeca neighborhood, for $30 million. The six-story, 32,70-square-foot building, which was originally constructed as an office building and converted to residential use in 2013, houses loft-style residences that come in one-, two-, three- and four-bedroom layouts. Guthrie Garvin of JLL represented the undisclosed seller in the transaction. The partnership was represented in-house. White Oak Real Estate Capital provided acquisition financing for the deal.

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IndustrialLoansNew YorkNortheast

Värde Partners Provides $125M Loan for Refinancing of Brooklyn Industrial Building

by Taylor Williams

NEW YORK CITY — Värde Partners, a Minneapolis-based lender, has provided a $125 million loan for the refinancing of an industrial building in Brooklyn. According to LoopNet Inc. the building at 630 Flushing Ave., which sits on a 7.8-acre, three-parcel site, totals roughly 575,000 square feet. The building was originally constructed in 1849 as the headquarters of Pfizer and was 88 percent leased at the time of the loan closing. Jason Gaccione and Jake Salkovitz of CBRE arranged the three-year, floating-rate loan on behalf of the owner, an affiliate of Acumen Capital Partners LLC.

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Affordable HousingDevelopmentMultifamilyNew YorkNortheast

Partnership to Undertake $272.6M Affordable Housing Renovation Project in East Harlem

by Taylor Williams

NEW YORK CITY — A partnership between two nonprofit organizations, The Community Builders and Ascendant Neighborhood Development, along with the New York City Housing Authority (NYCHA), will undertake a $272.6 million affordable housing renovation project in East Harlem. The project will rehabilitate 523 apartments that are housed across four buildings within two complexes — Metro North Plaza and Gaylord White Houses — and which are home to about 800 residents. The project will preserve the affordability of the units and will also enhance shared indoor spaces, common outdoor areas grounds and building infrastructural systems. Specifically, façades will be repaired; roofs will be repaired or replaced; new windows will be installed; and elevators will be overhauled. Financing for the project stems from the NYCHA Permanent Affordability Commitment Together (PACT).  Wavecrest Management will handle day-to-day property management at the developments.

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Leasing ActivityNew YorkNortheastOffice

Nagarro Signs 41,854 SF Office Lease at 195 Broadway in Lower Manhattan

by Taylor Williams

NEW YORK CITY — Nagarro has signed a 41,854-square-foot office lease at 195 Broadway in Lower Manhattan. The provider of data and digital engineering services first subleased the entire 25th floor of the 1.1 million-square-foot building last November and has now entered into an eight-year direct lease. Sinclair Li, Peter Shikar and Connor DeSimone of CBRE represented the tenant in the lease negotiations. Jonathan Tootell, Tanya Grimaldo and Giannina Brancato represented the landlord, L&L Holding, on an internal basis. 

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AcquisitionsNew YorkNortheastOffice

SL Green Agrees to Buy Midtown Manhattan Office Building for $730M

by Taylor Williams

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has entered into an agreement to purchase Park Avenue Tower, a 36-story, 621,826-square-foot office building located at 65 E. 55th St. in Midtown Manhattan. According to The Wall Street Journal, the seller, Blackstone, bought the building in 2014 for $750 million. Park Avenue Tower was originally constructed in 1986 and recently underwent capital improvements that enhanced office suites, the lobby, amenity spaces and the outdoor plaza. Gary Phillips and Will Silverman of Eastdil Secured represented the seller in the transaction. The deal is expected to close in the first quarter of 2026.

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