NEW YORK CITY — Marcus & Millichap has brokered the $3.4 million sale of an eight-unit apartment building located at 923 Bedford Ave. in Brooklyn’s Clinton Hill neighborhood. The four-story building was originally constructed in 1901 and offers studio, one- and two-bedroom units. Daniel Greenblatt and Shaun Riney of Marcus & Millichap represented the seller, a family office, in the transaction and procured the buyer, an individual/personal trust.
NEW YORK CITY — IMA New York, a division of insurance brokerage firm IMA Financial Group, has signed a 10,000-square-foot office lease at 1155 Avenue of the Americas in Midtown Manhattan. The lease term is 10 years. The tenant will occupy space on the 33rd floor of the 42-story building. Howard Hersch and Brett Harvey of JLL represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban internally represented the landlord, The Durst Organization, which recently completed a $130 million capital improvement program at the property.
MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners is nearing completion of Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The site is located near Good Samaritan Hospital — Suffern, as well as numerous commercial establishments. The property will span 133,675 square feet and will feature one- and two-bedroom units with an average size of 500 square feet, as well as an array of entertainment- and wellness-based amenities. H2M Architects + Engineers designed the project, and McAlpine Contracting is handling construction. M&T Bank provided a $34.8 million construction loan for the project, completion of which is scheduled for next year.
BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged an $11.1 million first mortgage loan for the refinancing of a 150,000-square-foot office building in Buffalo. Jack Phillips of Largo Capital arranged the financing on behalf of the undisclosed buyer. The direct lender was not disclosed. The building was fully leased at the time of the loan closing.
NEW YORK CITY — Bronx Community Health Network (BCHN) will open an 11,000-square-foot healthcare facility at 3763 White Plains Road. The two-story facility will offer outpatient medical, dental and behavioral health services. The opening is set for summer 2024. Project partners include DIGroupArchitecture, New York Engineers and Denham Wolf Real Estate Services.
NEW YORK CITY — Beechhurst Executive Suites has renewed its lease for 6,936 square feet on the second floor of Whitestone Plaza, a 62,000-square-foot urban community shopping center located on the north side of Queens. Randall Briskin represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. The tenant was self-represented. Other tenants at Whitestone Plaza include CVS and North Shore Farms supermarket.
NEW YORK CITY — Law firm Meltzer, Lippe, Goldstein & Breitstone LLP signed a 5,835-square-foot office lease expansion at 70 E. 55th St. in Midtown Manhattan. The lease term is 10.5 years. The 27-story, 154,000-square-foot building is known as Heron Tower and was originally constructed in 1985. Diana Biasotti, Kristen Morgan and Thomas Swartz of JLL represented the landlord in the lease negotiations. Nicholas Markel of Cresa represented the tenant.
NEW YORK CITY — Canela Media, a provider of Spanish language content, has signed an 8,066-square-foot office lease renewal and expansion at 370 Lexington Avenue in Midtown Manhattan. Canela Media has occupied 4,924 square feet at the 26-story building since 2021 and is now taking additional space on the 15th floor. Brett Maslin and Jack Tobin of Adams & Co. represented the tenant in the lease negotiations. Gayle Kennedy and Olivia Schrantz of Broad Street Development represented the undisclosed landlord.
NEW YORK CITY — Merchants Capital has provided $225 million in Freddie Mac financing for seven affordable housing properties in The Bronx. The properties comprise 18 buildings and 983 units that carry a range of income restrictions. The borrower is a joint venture between The Arker Cos., SBV RE Investments LLC and Dabar Development Partners. Proceeds will be used to refinance existing debt, rehabilitate units with building-wide improvement plans and preserve affordability. The scope of work includes kitchen upgrades, plumbing improvements and common area maintenance. Completion is slated for September 2025.
NEW YORK CITY — Energy Capital Partners (ECP) has signed a 26,292-square-foot office lease expansion at One World Trade Center, a 3.1 million-square-foot tower in Lower Manhattan. David Falk, Peter Shimkin, Hal Stein, Jason Greenstein and Nathan Kropp of Newmark represented ECP, which is taking an additional 15,400 square feet, in the lease negotiations. Newmark’s Eric Zemachson and Corey Borg, along with internal agents Eric Engelhardt and Karen Rose, represented the landlord, a partnership between The Durst Organization and The Port Authority of New York & New Jersey.