NEW YORK CITY — Cushman & Wakefield has negotiated a 12,847-square-foot office lease renewal in Manhattan’s Plaza District. The building at 600 Lexington Ave. rises 36 stories and spans 305,472 square feet. Harry Blair, Connor Daugstrup and Bianca DiMauro of Cushman & Wakefield represented the landlord, Lex NY Equities LLC, in the lease negotiations. Daniel Posy and Jason Roberts of JLL represented the tenant, GLC Advisors, an independent investment advisory firm.
NEW YORK CITY — New Museum, an institution devoted to contemporary art, has signed a 5,850-square-foot office lease at 250 Bowery in Lower Manhattan. The space will house the museum’s administrative offices during its temporary closure, which stems from a 60,000-square-foot expansion project that began in November 2022 and is slated for an early 2025 completion. A joint venture of Taconic Partners, L+M Development Partners, BFC Partners, The Prusik Group and Goldman Sachs Asset Management owns the building.
NEW YORK CITY — Stuf Storage has opened a 110-unit self-storage facility in Brooklyn. The facility is located at 550 Fifth Ave. in the Park Slope neighborhood and consists of gross 9,000 net rentable square feet of space. Units range in size from 20 square feet to 250 square feet. The owner of the building was not disclosed. Stuf Storage now operates about 30 facilities across seven states.
NEW YORK CITY — Stuf Storage has opened a 180-unit self-storage facility in Brooklyn. The facility is located at 485 Clermont Ave. at the nexus of the Clinton Hill and Prospect Heights neighborhoods and consists of 15,000 gross square feet. Units range in size from 12 square feet to 240 square feet. Locally based developer RXR owns the property. Stuf Storage now operates about 30 facilities across seven states.
NEW YORK CITY — Bernhardt Furniture has signed a 20,000-square-foot office lease renewal in Midtown Manhattan. The company’s flagship office and showroom are located at 136 Madison Avenue, a 17-story, 300,000-square-foot building. Mac Roos, Andrew Roos, Michael Cohen and Jessica Verdi of Colliers represented the landlord, Williams Equities, in the lease negotiations. Peter Sabesan and Matthew Feigen of Cresa represented the tenant.
J.P. Morgan Real Estate Income Trust Acquires Majority Interest in 99,837 SF Retail Center in Queens
NEW YORK CITY — J.P. Morgan Real Estate Income Trust (JPMREIT) has acquired a 95 percent interest in Shops at Grand Avenue, a 99,837-square-foot retail center in Queens. Acadia Realty Trust sold the interest for $48 million. Grocer Stop & Shop anchors the property, which was fully leased at the time of the acquisition. Other tenants include Party City, Five Below, Sally Beauty Supply, Starbucks and Burger King.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $7.7 million sale of a multifamily development site in the Far Rockaway area of Queens. The site at 60-14 Beach Channel Drive can support 74,000 square feet of buildable space and is subject to a 421a tax incentive for adding affordable housing. Jason Gold and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
HOLBROOK, N.Y. — Locally based brokerage firm CAMCO Commercial Real Estate has negotiated a 21,450-square-foot industrial lease on Long Island. The tenant, janitorial supplies provider I. Janvey & Sons Inc., is taking space at the 300,000-square-foot Sherwood Corporate Center in Holbrook. CAMCO represented the undisclosed landlord in the lease negotiations. Premier Commercial Real Estate represented the tenant.
NEW YORK CITY — Walker & Dunlop has arranged a $110 million construction loan for a 246-unit multifamily project that will be located at 880 Atlantic Ave. in the Prospect Heights area of Brooklyn. The building will house studio, one- and two-bedroom units as well as 13,000 square feet of commercial space. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, Jordan Casella and William Herring of Walker & Dunlop arranged the loan on behalf of the developer, EMP Capital Group. QuadReal Property Group provided the financing.
HOLBROOK, N.Y. — Locally based brokerage firm CAMCO Commercial Real Estate has negotiated a 17,022-square-foot industrial lease on Long Island. The tenant, food wholesaler 496 Express Foods Inc., is taking space at the 300,000-square-foot Sherwood Corporate Center in Holbrook. The space can support cold storage uses. CAMCO represented both the tenant and undisclosed landlord in the lease negotiations.