NEW YORK CITY — M&T Realty Capital Corp. has provided an $18.7 million Freddie Mac permanent loan for The Louella, an 85-unit affordable seniors housing property in the Fordham Heights neighborhood of The Bronx. The newly built, age-restricted property offers studio, one-, and two-bedroom units. The amenity package comprises onsite laundry facilities, a community room, bike storage space, fitness center and an outdoor recreational area. Sean Cullen of M&T originated the loan through Freddie Mac’s Forward Commitment 9 Percent LIHTC program. The borrower was The Community Builders. Information on specific income and age restrictions was not disclosed.
NEW YORK CITY — Harvey, a San Francisco-based generative AI platform, has signed a 17,050-square-foot office lease expansion in Midtown Manhattan. The space spans the entire seventh floor of 315 Park Avenue S., a 20-story building in the Flatiron District, and complements Harvey’s original 17,050-square-foot lease that was inked this summer. Todd Stracci, Hugh Scott and Jack Nelson of JLL represented the tenant in the lease negotiations. David Falk, Peter Shimkin and Jonathan Fanuzzi of Newmark, along with internal agents Maria Blake and Ted Koltis, represented the landlord, Columbia Property Trust.
NEW YORK CITY — Locally based real estate giant Tishman Speyer has completed the $3.5 billion refinancing of Rockefeller Center, a 7.3 million-square-foot mixed-use campus in Midtown Manhattan. Bank of America and Wells Fargo led the consortium of lenders that provided the CMBS financing, which carries a fixed interest rate of approximately 6.23 percent. Tishman Speyer will use the proceeds to pay off a 20-year, $1.7 billion CMBS loan and additional mezzanine financing that will mature in May 2025, as well as to fund reserves for contractual leasing costs. Dechert LLP advised Bank of America and Wells Fargo on the transaction. Rockefeller Center was originally developed in the 1920s and comprises more than a dozen buildings across 22 acres between 48th and 51st streets. The campus features office, retail, restaurant and entertainment space, as well as a 24,000-square-foot park atop Radio City Music Hall. Tishman Speyer is currently nearing completion of a redevelopment of the property. The office component of Rockefeller Center is currently 93 percent leased to global occupiers such as Deloitte, Lazard, Christie’s, Simon & Schuster and J.P. Morgan Chase. Retail and entertainment users include LEGO, Banana Republic, Anthropologie, Michael Kors, Catbird, FAO Schwarz and Nintendo. The lineup of …
NEW YORK CITY — Bloomberg LP has signed a 924,876-square-foot office lease extension and expansion at 919 Third Avenue in Manhattan. The deal will see the business media and publishing giant retain its 749,035-square-foot space that covers floors two through 18 and floors 28 through 33. The original lease for that portion of the building expires in 2029, and the new extension runs through 2040. In addition, Bloomberg will expand its footprint within the building by 175,841 square feet via a new 15-year lease covering a portion of the 34th floor and the entire floors on levels 35 and 41 through 44. SL Green owns 919 Third Avenue, which rises 47 stories and spans 1.5 million square feet. The building was originally completed in 1970 and recently underwent a capital improvement program. Robert Alexander, Ryan Alexander, Emily Chabrier, Taylor Callahan, Alex D’Amario and Nicole Marshall of CBRE represented SL Green in the lease negotiations. Howard Fiddle, Chris Mansfield, Zach Weil and Ryan Luck, also with CBRE, represented Bloomberg, which also recently extended its office lease at 731 Lexington Avenue through 2040.
NEW YORK CITY — TD Bank has expanded its office footprint at 125 Park Avenue in Midtown Manhattan. The lease term is 10 years, and the space spans 26,255 square feet across the entire eighth floor. TD Bank now occupies 130,057 square feet at 125 Park Avenue, and the expansion brings the building to full occupancy. Robert Alexander, Ryan Alexander, Matthew Saker and Nicole Marshall of CBRE represented TD Bank in the lease negotiations. Brian Waterman, David Falk, Pete Shimkin and Daniel Levine of Newmark represented the landlord, SL Green.
NEW YORK CITY — Marcus & Millichap has brokered the $5.9 million sale of a five-story mixed-use building in Lower Manhattan. The building at 133 Eldridge St. features ground-floor retail space with residential units above. Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Eastdil Secured has arranged the recapitalization of Park Sixty, a 186,000-square-foot medical office building located at 110 E. 60th St. in Manhattan’s Plaza District. The property consists of 179,000 square feet of medical office space and 7,000 square feet of retail space and recently underwent a $20 million renovation that upgraded the building’s infrastructure, lobby and common areas. Eastdil acted on behalf of Connecticut-based investment management firm LoanCore Capital, which now owns and operates Park Sixty in partnership with real estate private equity firm Blue Arch Capital and Dallas-based Lincoln Property Co.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $9.8 million sale of a multifamily development site in The Bronx. The site at 36 Bruckner Blvd. is located on the borough’s Mott Haven neighborhood and is approved for the development of 99 apartments and some commercial space. Jason Gold and Gabriel Elyaszade of Ariel represented the seller, Yates Restoration, which has owned the property since 1982, in the transaction. The buyer was not disclosed.
JERICHO, N.Y. — PX4 Development has completed a $15 million student housing conversion project on Long Island. The project converted a former 80-room hotel in Jericho into a 79-unit, 188-bed resident hall for students at The New York Institute of Technology. Units come in one-, two- and three-bedroom floor plans, and amenities include private and communal study spaces, lounge and recreation areas and an indoor pool. TPG Architecture designed the project, construction of which began last October.
NEW YORK CITY — Customers Bank has signed a 24,600-square-foot office lease expansion in Midtown Manhattan. The bank holding company is taking an additional full floor at 101 Park Avenue, a 1.3 million-square-foot building. John Cefaly and Nicholas Dysenchuk of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co., in the lease negotiations. Customers Bank, which now occupies 37,000 square feet at the property, was self-represented.