New York

Pocketbook-Hudson

HUDSON, N.Y. — Bayview PACE has provided $7 million in C-PACE financing for an adaptive reuse project in Hudson, about 35 miles south of Albany. Pocketbook Hudson is a conversion of the historic Pocketbook knitting mill factory dating to the 1890s into a 70,000-square-foot mixed-use property. Now under construction, the $42 million project will include a 40-room hotel, wellness center, lounge, restaurant, bar and café, as well as spaces devoted to artwork, affordable retail and nonprofit offices. Bayview’s long-term C-PACE  financing for Pocketbook’s energy and resiliency components was facilitated with Energy Improvement Corp., the New York State nonprofit that administers C-PACE.

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NEW YORK CITY — New York City-based Skyline Developers has topped out a 97-unit multifamily project at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the building rises 25 stories and spans 152,000 square feet, including 10,000 square feet of amenities and 5,265 square feet of retail space. Construction began in mid-2023, and delivery is slated for 2025. Goldman Sachs financed construction of the project.

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VALLEY COTTAGE, N.Y. — Maryland-based investment firm Realterm has acquired an industrial outdoor storage facility in Valley Cottage, located just across the New York-New Jersey border. The 37,560-square-foot facility was built on a 5.4-acre site in 2009 and consists of a seven-bay, drive-thru maintenance facility, a concrete storage yard and office spaces. Realterm plans to implement a value-add program. The seller was not disclosed.

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NEW YORK CITY — Sagard Real Estate, the Denver-based firm formerly known as EverWest Real Estate Investors, has broken ground on 1 Nassau Place, a 332,000-square-foot warehouse on Staten Island. The site is located less than a mile from State Route 440, and the design calls for two points of ingress/egress. The building will feature a clear height of 36 feet, 60 dock doors, 175 car parking spaces, rooftop solar panels and an ESFR sprinkler system. Delivery is slated for late 2025.

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NEW YORK CITY — Marcus & Millichap has brokered the $29 million sale of a portfolio of three multifamily buildings totaling 59 units in Manhattan’s East Village neighborhood. The buildings at 129 Second Ave. and 36 Saint Marks Place all rise six stories and house 10 retail spaces between them. Joe Koicim, Logan Markley, Zan Colin and Matt Berger of Marcus & Millichap represented the seller, Jonis Realty, in the transaction and procured the buyer, Ryco Capital. Both parties are locally based.

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NEW YORK CITY — JLL has negotiated a 75,825-square-foot office lease at 245 Park Avenue in Midtown Manhattan. The tenant, Tradeweb Markets (NASDAQ: TW), will occupy the entire 29th and 30th floors of the 1.8 million-square-foot building. David Kleiner, Michael Berg, Will McGarry and Finley Burger of JLL represented the tenant in the lease negotiations. Patrick Murphy, Bruce Mosler, Tara Stacom, Harry Blair, Ron LoRusso, Justin Royce, Pierce Hance and Will Yeatman of Cushman & Wakefield represented the landlord, SL Green.

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NEW YORK CITY — Law firm Emery Celli Brinckerhoff Abady Ward & Maazel LLP (ECBAWM) has inked a 6,000-square-foot office lease expansion at Rockefeller Center in Manhattan. The deal raises the firm’s footprint within the 34-story building at 1 Rockefeller Plaza from 16,000 to 22,000 square feet. Zev Holzman of Savills and Paul Revson of Emerald Realty represented ECBAWM in the lease negotiations. The landlord, Tishman Speyer, was represented internally.

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Garden-City-Center-Long-Island

GARDEN CITY, N.Y. — The Feil Organization has completed the renovation of Garden City Center, a 200,000-square-foot office building on Long Island. The building was originally constructed in 1990 and is leased to a mix of firms in the legal, insurance and professional services industries. Designed by MdeAS Architects, the project featured a full redevelopment of the common areas and entryways, as well as new landscaping, seating areas and art installations. Additional amenities include a fitness center, conference facility and a full-service restaurant.

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NEW YORK CITY — Orrick, Herrington & Sutcliffe has signed a 15-year, 144,312-square-foot office lease renewal in Midtown Manhattan. The law firm will continue to occupy six floors at 51W52, a 38-story, 900,000-square-foot building. Howard Fiddle, Scott Gottlieb, Andrew Sussman, Evan Haskell, Evan Fiddle and Caroline Merck of CBRE represented the landlord, Harbor Group International, in the lease negotiations. Mary Ann Tighe, Craig Reicher, Ramneek Rikhy and Elliot Bok, also with CBRE, represented the tenant.

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ELMIRA, N.Y. — Time Equities Inc. (TEI) has purchased Big Flats Commons, a 44,635-square-foot shopping center located in the upstate New York community of Elmira. Target anchors the property, which was built in 2007. Other tenants include Best Buy, Maurice’s, Five Guys, Panera Bread, Vitamin Shoppe and Papa John’s. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI in the transaction on an in-house basis. Kenneth Brownwell of Vanguard-Fine represented the seller, NNN REIT.

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