Tuesday, November 19, 2024
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The-Brook
DevelopmentMultifamilyNew YorkNortheast

Witkoff, Apollo Global Top Out 52-Story Apartment Tower in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between Witkoff and an affiliate of Apollo Global Management has topped out The Brook, a 52-story apartment building in downtown Brooklyn. The Brook will house 591 apartments and 21,000 square feet of retail space. Thirty percent of units will be set aside as affordable housing. Income restrictions for these units were not disclosed. Amenities will include a pool, basketball court, lounge, fitness center, library, communal terraces, playground, dog run and coworking spaces. Move-ins are slated to begin in the second half of 2025. Beyer Blinder Belle designed the community, and Bonetti/Kozerski Architecture provided interior design services. Suffolk Construction is the general contractor.

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DevelopmentHospitalityNew HampshireNew JerseyNew YorkNortheast

Everhome Suites to Open Three New Hotels Totaling 334 Rooms in Northeast

by Taylor Williams

ROCKVILLE, MD. — Everhome Suites, which is part of the family of brands of Maryland-based owner-operator Choice Hotels International Inc., will open three new hotels totaling 334 rooms in the Northeast. The properties include a 106-room hotel in Portsmouth, N.H.; a 114-room hotel in Somerset, N.J.; and a 114-room hotel in Rochester, N.Y. All rooms will feature fully equipped kitchens. Construction of the hotels is underway, and the openings are scheduled for 2025.

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AcquisitionsMixed-UseNew YorkNortheast

Ariel Property Advisors Arranges $11.7M Sale of Mixed-Use Development Site in The Bronx

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $11.7 million sale of a mixed-use development site in The Bronx. The site at 1931 Lafayette Ave. totals 300,000 buildable square feet and is zoned for both affordable housing and up to 18,000 square feet of retail space. Victor Sozio, Shimon Shkury, Jason Gold and Daniel Mahfar of Ariel represented the undisclosed sellers in the transaction. The buyer was also not disclosed.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $8M Sale of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $8 million sale of a seven-unit apartment building located at 228 W. 10th St. in Manhattan’s West Village. The four-story building consists of six one-bedroom apartments and a 2,500-square-foot retail space that is leased to Italian restaurant L’Artusi. Joe Koicim and Peter Dodge of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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Leasing ActivityNew YorkNortheastOffice

Herrick Feinstein Signs 76,849 SF Office Lease at Two Park Avenue in Manhattan

by Taylor Williams

NEW YORK CITY — Law firm Herrick Feinstein LLP has signed a 76,849-square-foot office lease at Two Park Avenue, a 1 million-square-foot building in Manhattan’s Flatiron District. The space spans the entire 14th floor and part of the 15th floor of the building, which recently underwent a capital improvement program. Tara Stacom, Mitchell Arkin, Peter Trivelas and Mike Tranfalia of Cushman & Wakefield represented the landlord in the lease negotiations. John Wheeler and Peter Riguardi of JLL represented the tenant.

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AcquisitionsHospitalityNew YorkNortheast

Northgate Real Estate Arranges $34.8M Bankruptcy Sale of Downtown Brooklyn Hotel Project

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Northgate Real Estate Group has arranged the $34.8 million bankruptcy sale of a hotel project in downtown Brooklyn that is roughly midway through construction. The 22-story building at 291 Livingston St., which is approved for 104 rooms, was sold via auction. Greg Corbin, Chaya Milworn and Felix Ades of Northgate handled the transaction on behalf of the undisclosed seller. The buyer was Midas Hospitality.

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25-Kent-Brooklyn
Leasing ActivityNew YorkNortheastRetail

Room 11 Hospitality Signs 23,000 SF Retail Lease in Brooklyn’s Williamsburg District

by Taylor Williams

NEW YORK CITY — Room 11 Hospitality has signed a 23,000-square-foot retail lease in Brooklyn’s Williamsburg district. The space at 25 Kent, a 511,000-square-foot mixed-use building, will be an event and catering venue for Room 11 affiliate La Sirena Events. Sam Seiler and Joe Whitten Morris of JLL represented the landlord, Rubenstein Partners, in the lease negotiations. Seiler also represented the tenant in conjunction with Joseph Sipala of JLL. The venue is scheduled to open next spring.

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AcquisitionsIndustrialNew JerseyNew YorkNortheastSelf-Storage

Prime Group Acquires Two Self-Storage Portfolios Totaling 1 MSF in New York, New Jersey

by Taylor Williams

SARATOGA SPRINGS, N.Y. — Prime Group, an investment firm based in Saratoga Springs, N.Y., has acquired two self-storage portfolios totaling roughly 1 million net rentable square feet in New York and New Jersey. The number of units and exact locations were not disclosed. The first portfolio consists of 14 properties totaling roughly 800,000 net rentable square feet that are located in New York’s Hudson Valley region. The second portfolio comprises five properties totaling 245,000 net rentable square in Northern New Jersey. Prime Group acquired both sets of properties in conjunction with a third portfolio that totals 680,000 net rentable square feet across 11 properties that are scattered across the country. The new ownership will operate the facilities under its Prime Storage brand. The seller and sales price were also not disclosed.

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Leasing ActivityNew YorkNortheastOffice

Savills Brokers 27,761 SF Office Sublease in Manhattan’s Hudson Square

by Taylor Williams

NEW YORK CITY — Savills has brokered a 27,761-square-foot office sublease at 250 Hudson St. in Manhattan’s Hudson Square area. The subtenant, EvolutionIQ, a platform that serves the insurance industry, is relocating from a 10,705-square-foot space at 27 W. 24th St. Zev Holzman, Christopher Foerch and Will Joumas of Savills represented EvolutionIQ in the lease negotiations. Holzman and Foerch also secured a subtenant for EvolutionIQ’s old space. Gabe Marans, Mitti Liebersohn and Maxine Rosen, also with Savills, represented the sublandlord, TMRW Life Sciences. Jack Resnick & Sons owns 250 Hudson Street.

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $9.3M Sale of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $9.3 million sale of The West, a 22-unit apartment building located at 144 West St. in Brooklyn. The building was completed in 2021 and offers one- and two-bedroom units and amenities such as a package room, urban garden, lounge with a bar and a rooftop deck. Shaun Riney, Michael Salvatico and Samuel Leppo of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, private investor Chesky Landau.

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