MONTICELLO, N.Y. — Locally based brokerage firm The Kislak Co. Inc. has arranged the $3.2 million sale of Jefferson Garden Apartments, a 76-unit multifamily complex in Monticello, about 100 miles north of New York City. Completed in 1969 and last renovated in 2023, the garden-style property consists of seven buildings that house two studios, 47 one-bedroom apartments, 18 two-bedroom residences and nine three-bedroom units. Janet Bortz of Kislak represented the buyer and seller in the transaction.
NEW YORK CITY — TADA Youth Theater has renewed its 10,000-square-foot lease at 15 W. 28th St. in Manhattan’s NoMad district. The community program that produces original musicals for family audiences and hosts musical classes has occupied space at the building since 2002, and the renewal keeps the tenant in place for another five years. Josh Berger of Norman Bobrow & Co. represented the tenant in the lease negotiations. David Eshagpour represented the landlord, East Coast Management, on an internal basis.
ROCHESTER, N.Y. — FM Capital, a financial intermediary based in South Florida, has arranged $32.5 million in bridge financing for a portfolio of four multifamily properties totaling 385 units in the Rochester area. The portfolio consists of Community Manor Apartments, Hamlet Court Apartments, Lakewood Manor Apartments and Valley Brook Townhomes, which collectively span about 32 acres. Noam Temchin of FM Capital arranged the floating-rate financing through Sheridan Capital. The borrower was not disclosed.
NEW YORK CITY — Kinderhook Industries has signed an office lease expansion at 505 Fifth Avenue in Midtown Manhattan. The private investment firm inked a 10-year deal for the entire 24th floor, which brings its footprint at the 26-story building to 21,752 square feet across two full floors. Paul Glickman, Diana Biasotti and Harrison Potter of JLL represented the landlord, Stawski Partners, in the lease negotiation. Alexander Chudnoff and Kate Roush, also with JLL, represented Kinderhook Industries.
CHEEKTOWAGA, N.Y. — Cleveland-based brokerage firm Cooper Commercial Investment Group has negotiated the sale of a medtail clinic in Cheektowaga, located just east of Buffalo, that is occupied by cannabis dispenser Verilife. According to LoopNet Inc., the facility at 3760 Union Road was built in 1989 and spans 3,606 square feet. Dan Cooper of Cooper Commercial represented the undisclosed, New York-based seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — French investment bank Natixis has provided a $260 million loan for the refinancing of AIRE, a 43-story apartment tower located at 200 W. 67th St. on Manhattan’s Upper West Side. Completed in 2010, AIRE offers studio, one-, two- and three-bedroom apartments and amenities such as a fitness center, private elevated park, event deck with a catering pavilion, children’s playroom and coworking space. AIRE also features nearly 37,000 square feet of commercial space that is predominantly leased to medical users. Lawrence Britvan and Michael Straw of CBRE arranged the floating-rate loan on behalf of the borrower, a joint between an undisclosed global investment firm and Gotham Organization.
NEW YORK CITY — Eastern Union has arranged a $33.4 million acquisition loan for a 144,263-square-foot medical office building in Brooklyn. The four-story building at 6201 15th Ave. is located in the Borough Park neighborhood and was most recently renovated in 2010. Alex Jaffa and Ben Halpern of Eastern Union arranged the loan, which was structured with an 80 percent loan-to-value ratio, an interest rate of 5.55 percent over a five-year term based on a 25-year amortization schedule. The direct lender was Webster Bank. The borrower was not disclosed.
ROCKVILLE CENTRE, N.Y. — Florida-based development and investment firm Basis Industrial has received a $27 million construction loan for a self-storage project that will be located in the Long Island community of Rockville Centre. Public Storage will operate the facility, which will comprise 121,500 gross square feet of space across 957 units. NexBank is the senior lender on the project, and NexPoint is the mezzanine lender. Construction is underway and is expected to be complete in early 2027.
NEW YORK CITY — Berkadia has provided a $31.8 million Freddie Mac loan for the refinancing of a 92-unit mixed-income apartment building located at 4180 Carpenter Ave. in The Bronx. The unit mix comprises nine market-rate studios and 55 market-rate one-bedroom apartments, along with one affordable studio, 23 affordable one-bedroom units and four affordable two-bedroom residences. The building, which was completed in 2024 and was 98 percent occupied at the time of the loan closing, also houses 8,000 square feet of commercial space that is occupied by Little Stars Daycare. Matt Nihan of Berkadia originated the 10-year, fixed-rate loan on behalf of the owner, New York-based owner-operator Stagg Group.
NEW YORK CITY — Sierra, an AI-driven customer service platform, has signed a 14,563-square-foot, full-floor office lease at 375 West Broadway in Manhattan’s SoHo neighborhood. The deal keeps the 76,605-square-foot building, which was originally constructed in 1863 and is currently being renovated, at full occupancy. Brett Harvey of Newmark represented the landlord, Manova Partners, in the lease negotiations. Jeff Fischer and Connor Krup of CBRE represented Sierra.