New York

Dwight Mortgage Trust Provides $34M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams September 4, 2025

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $34 million bridge loan for the refinancing of a 67-unit apartment building located in the Greenpoint area of Brooklyn. The newly developed, eight-story building at 170 Freeman St. includes ground-floor commercial space. The unit mix comprises 12 studios, 40 one-bedroom units and 15 two-bedroom apartments. Amenities include a fitness center, study rooms, storage lockers, a resident lounge, pet spa and a rooftop terrace with a grilling station. David Scheer of Dwight originated the debt on behalf of the borrower, Green Street Group Managers LLC.

September 4, 2025

Industrial Leasing Activity New York Northeast

Cushman & Wakefield Negotiates 28,000 SF Industrial Lease Near JFK International Airport

by Taylor Williams September 4, 2025

NEW YORK CITY — Cushman & Wakefield has negotiated a 28,000-square-foot industrial lease near JFK International Airport in Queens. The tenant, freight and logistics operator Kennedy Transport Services LLC, will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.

September 4, 2025

Leasing Activity New York Northeast Office

JTC Group Signs 15,926 SF Office Lease in Midtown Manhattan

by Taylor Williams September 4, 2025

NEW YORK CITY — JTC Group has signed a 15,926-square-foot office lease in Midtown Manhattan. The global fund administration services company will relocate from Rockefeller Center to the entire 20th floor of 575 Madison Avenue, a 25-story, 385,347-square-foot building. David Hollander, Gregg Rothkin, Brad Auerbach, Maxwell Tarter and William Hooks of CBRE represented the landlord, Steinberg and Pokoik Management Co., in the lease negotiations. John Nugent and Joe D’Apice, also with CBRE, represented the tenant.

September 4, 2025

Leasing Activity New York Northeast Office

WeWork Signs 55,000 SF Office Lease at 245 Fifth Avenue in Midtown Manhattan

by Taylor Williams September 3, 2025

NEW YORK CITY — WeWork has signed a 55,000-square-foot office lease at 245 Fifth Avenue, a 24-story, 316,495-square-foot building in Midtown Manhattan. The space spans four floors, and the lease term is 10 years. Aaron Ellison and Travis Milone of Newmark, along with internal agents Peter Greenspan and Melissa Visoky, represented WeWork in the lease negotiations. Scott Klau, Erik Harris, Zach Weil, Cole Gendels and Ben Klau, also with Newmark, represented the landlord, The Moinian Group.

September 3, 2025

Industrial Leasing Activity New York Northeast

Cushman & Wakefield Secures 25,000 SF Industrial Lease Near JFK International Airport

by Taylor Williams September 3, 2025

NEW YORK CITY — Cushman & Wakefield has secured a 25,000-square-foot industrial lease near JFK International Airport in Queens. The tenant, pastry producer Pidy Gourmet Inc., will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.

September 3, 2025

Acquisitions New York Northeast Office Top Stories

Norges Bank Investment Management Agrees to Acquire 95 Percent Stake in Manhattan Office Building for $542.6M

by Kristin Harlow September 3, 2025

NEW YORK CITY — Norges Bank Investment Management, the world’s largest sovereign wealth fund, has agreed to acquire a 95 percent interest stake in Manhattan’s 1177 Avenue of the Americas for $542.6 million. The deal values the 1 million-square-foot office property at $571.1 million. Boston-based Beacon Capital Partners will acquire a 5 percent interest in the building and will perform the asset management duties for the property on behalf of the new ownership. Eastdil Secured served as exclusive advisor to the seller, a joint venture between California State Teachers’ Retirement System (CalSTRS) and New York City-based Silverstein Properties. The transaction is expected to close this quarter. The sellers acquired the Sixth Avenue building at the end of 2007 for more than $1 billion. The 47-story property was completed in 1992. Notable tenants include law firm Kramer Levin, private equity firm Mill Point Capital, nonprofit Practising Law Institute and global insurance and investment organization Starr. The asset features a recently renovated lobby with 60-foot-high ceilings and a new outpost of Naya, a fast-casual Middle Eastern restaurant. Norges Bank Investment Management is an investment fund created to manage revenue from Norway’s oil-and-gas resources. The fund invests in equities, fixed-income investments, real estate …

September 3, 2025

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Brokers $10.9M Sale of Manhattan Mixed-Use Building

by Taylor Williams September 2, 2025

NEW YORK CITY — Marcus & Millichap has brokered the $10.9 million sale of a 13,000-square-foot mixed-use building in Manhattan’s Little Italy neighborhood. Constructed in 1900, the building at 385 Broome St. comprises five apartments that feature a mix of floor plans and are currently vacant, as well as two ground-floor spaces. Peter Dodge, Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

September 2, 2025

Industrial Leasing Activity New York Northeast

Cushman & Wakefield Negotiates 25,868 SF Industrial Lease Near JFK International Airport

by Taylor Williams September 2, 2025

NEW YORK CITY — Cushman & Wakefield has negotiated a 25,868-square-foot industrial lease near JFK International Airport in Queens. The tenant, logistics provider ECMS Express, is taking space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. Rusty Smith, also with Cushman & Wakefield, represented ECMS Express in the deal.

September 2, 2025

Leasing Activity New York Northeast Office

Swedish Institute Signs 17,610 SF Office Lease Expansion, Extension in Manhattan

by Taylor Williams September 2, 2025

NEW YORK CITY — The Swedish Institute Inc. has signed a 17,610-square-foot office lease expansion in Manhattan’s Chelsea district. The organization, which specializes in health and wellness education, now occupies 57,678 square feet at 151 W. 26th St. The Swedish Institute also extended its original lease for 40,068 square feet for another 10 years. Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Max Koeppel represented the landlord, Koeppel Rosen LLC, on an internal basis.

September 2, 2025

Acquisitions New York Northeast Office

Cross Ocean, Lincoln Buy 650,000 SF Office Building in Downtown Brooklyn

by Taylor Williams August 29, 2025

NEW YORK CITY — A partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co. has acquired the leasehold interest in 470 Vanderbilt Avenue, a 650,000-square-foot office building in downtown Brooklyn. According to LoopNet Inc., the 10-story building was originally constructed in 1931 and last renovated in 2012. The building was fully leased at the time of sale, with the New York City Human Resources Administration and New York City Housing Authority serving as the longstanding anchor tenants. The seller and sales price were not disclosed, but Crain’s New York Business reports that the seller was local real estate giant RXR and the price was approximately $70 million.

August 29, 2025

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