NEW YORK CITY — Financial services firm Cantor Fitzgerald has renewed a 56,170 square-foot office lease at 499 Park Avenue in the Plaza District of Midtown Manhattan. The company signed a 16-year lease for the space. The leasing is part of a larger headquarters spanning two buildings. Jared Horowitz, Neil Goldmacher and Jason Perla of Newmark Knight Frank represented Cantor Fitzgerald in the lease negotiations. Michael Jones of Cole Schotz P.C. advised Cantor Fitzgerald in the renewals of the lease agreements. Paul Amrich of CBRE represented the landlord, American Realty Advisors.
NEW YORK CITY — Financial services firm Cantor Fitzgerald has renewed its 151,890 square-foot office headquarters lease at 110 East 59th Street in the Plaza District of Midtown Manhattan. The company signed at 16-year lease to occupy seven full floors at the 37-story building. Jared Horowitz, Neil Goldmacher and Jason Perla of Newmark Knight Frank represented Cantor Fitzgerald in the lease negotiations. Michael Jones of Cole Schotz P.C. advised Cantor Fitzgerald in the renewals of the lease agreements. Brett Greenberg and Fran Delgorio represented the building owner and developer, Jack Resnick & Sons, in-house.
NEW YORK CITY — JLL has negotiated a 25,261-square-foot office lease for advertising company CaféMedia in Manhattan. The company signed a 10-year lease to occupy the entire 27th floor of the 1.1 million-square-foot building, which is located at 1411 Broadway and completed in 1970. CaféMedia previously occupied space at 417 Fifth Avenue. Alexander Chudnoff, Dan Turkewitz and Kip Orban of JLL represented the tenant in the lease negotiations. Paul Amrich, Neil King and Emily Jones of CBRE represented the landlord, Ivanhoé Cambridge.
NEW YORK CITY — Voya Investment Management LLC has provided a $17.4 million loan for the acquisition and renovation of 79 Clifton Place, a 40-unit multifamily building in the Clinton Hill neighborhood of Brooklyn. The 52,375-square-foot building was converted to a multifamily use in 2000 after previously housing a knitting factory and now features one-, two-, three- and four-bedroom units. The borrower, The FREO Group, plans to implement a $1.75 million capital improvements plan to boost occupancy. Max Herzog, Marko Kazanjian and Matt Fagella of JLL secured the loan.
NEW YORK CITY — JLL has secured an $87 million construction loan for the ground-up development of Terminal Logistics Center, a 300,000-square-foot industrial project in Queens. CIT Group Inc. provided the loan to the borrower, a partnership of Triangle Equities Development Co., Township Capital Inc. and L&B Realty Advisors LLP, which will develop the Class A warehouse and storage facility adjacent to John F. Kennedy International Airport. Total cost for the project is approximately $129 million. Geoff Goldstein and Rob Hinckley led a JLL team that secured the loan.
NEW YORK CITY — Taco Bell Cantina, a concept from the fast-food chain that incorporates alcoholic beverage service, will open a new restaurant at The Paramount Building, an 800,000-square-foot tower located in Manhattan’s Times Square. David Firestein and Jenna Heidenberg of SCG Retail represented Taco Bell in the lease negotiations. Ross Berkowitz, Jason Wecker and Andrew Taub of Newmark Knight Frank represented the landlord, Rosemark Management and Levin Management Corp. in conjunction with in-house representatives of those firms. The opening is slated for this summer.
NEW YORK CITY — Black Bear Capital Partners has arranged $50.4 million in permanent financing for a portfolio of multifamily properties in The Bronx. Morgan Stanley provided the loan, which carries a fixed interest rate of 3.78 percent and 10 years of interest-only payments, to Finkelstein Timberger East Real Estate. The portfolio spans five properties and includes 357 multifamily units and nine commercial spaces. Bryan Manz, Rob Serra and Emil DePasquale of Black Bear arranged the transaction.
NEW YORK CITY — Berkadia has arranged a $32 million senior loan with a mezzanine loan component for a 60-unit residential project at 433 W. 53rd St. in Midtown Manhattan. Proceeds will be used to stabilize the community, construction of which was recently completed. Keysite Capital Partners provided the loan to the borrower, Emmut Properties. Chinmay Bhatt, Noam Franklin and Cody Kirkpatrick of Berkadia handled the transaction.
AMITYVILLE, N.Y. — Greystone has provided a $71.3 million HUD-insured loan for the refinancing of Massapequa Center Rehabilitation & Nursing, a 320-bed skilled nursing facility in the Long Island village of Amityville. The loan enables the borrower to exit initial bridge financing used to acquire the property in November 2017 and to continue with renovations. The financing carries a fixed interest rate, 30-year term and a 30-year amortization schedule. Originally constructed in 1974, Massapequa Center has undergone $8.5 million in facility upgrades, including the installation of private suites with private showers, the addition of a new commercial kitchen, the creation of a large rehabilitation and wellness center and comprehensive renovations to the entrance lobby, nurse stations and geriatric units. Fred Levine of Greystone originated the transaction.
NEW YORK CITY — Morgan Stanley (NYSE: MS) has provided $142.6 million in permanent financing for an 18-property multifamily portfolio in the Bronx. The Greenwich, Conn.-based borrower, The Morgan Group, will use the loans to refinance the nearly 1,000-unit portfolio, which includes 29 commercial units. Black Bear Capital Partners (BBCP) arranged the financing in three separate 10-year, interest-only loans. The financing includes a $77 million loan with a fixed interest rate of 3.78 percent; a $33.3 million loan fixed at 3.92 percent; and a $32.3 million loan fixed at 3.65 percent. The low-leverage loan package replaces Morgan Group’s existing debt, which was close to maturation. Bryan Manz, Rob Serra and Emil DePasquale of BBCP arranged the financing for Morgan Group, which owns a large multifamily rental portfolio in the Bronx, Manhattan, Queens, Brooklyn and Westchester County. “BBCP, The Morgan Group, and Morgan Stanley worked diligently to close this complex refinancing package in timely and efficient manner,” says Manz. “We look forward to arranging additional transactions with both parties.” Morgan Stanley is a global financial services firm that operates in more than 41 countries. The company provides investment banking, securities, wealth management and investment management services. Morgan Stanley’s stock price closed …