New York

Jacobson Properties Brokers $45M Sale of Medical Office Portfolio in New York

by David Cohen February 26, 2019

NEW YORK STATE — Jacobson Properties has brokered the $45 million sale of the New York State Medical Office Portfolio, five properties located in the Capital Region and Hudson Valley of New York State. The 209,382-square-foot portfolio is anchored by St. Peter’s Hospital, Ellis Hospital, Seton Health System and Westchester Medical Center Health Network. Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. represented the undisclosed seller in the transaction. The buyer was a national private equity healthcare investor.

February 26, 2019

Hospitality Loans New York Northeast

CapStack Partners Secures $19M Refinancing for Ravel Hotel in Long Island City

by David Cohen February 26, 2019

NEW YORK CITY — CapStack Partners has arranged a $19 million loan to refinance The Ravel Hotel in Long Island City. Located at 8-08 Queens Plaza, the 113-room hotel also includes 17,000 square feet of event space, a redesigned rooftop restaurant, pool club and outdoor beer garden. CapStack’s investment banking group worked on behalf of the undisclosed borrower to secure the 10-year, fixed-rate loan through an undisclosed lender. Loan proceeds were used to refinance construction costs

February 26, 2019

Acquisitions New York Northeast Retail

Marcus & Millichap Negotiates $2.7M Sale of Net-Leased Retail Property in Yonkers

by David Cohen February 26, 2019

YONKERS, N.Y. — Marcus & Millichap has negotiated the $2.7 million sale of a 9,500-square-foot retail property in Yonkers. Located at 896 McLean Ave., the property is currently net leased to Dollar Tree. Alan Cafiero, Ben Sgambati and Matt Leszyk of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was a personal trust.

February 26, 2019

Development Loans New York Northeast

Cushman & Wakefield Arranges $13.4M Bridge Loan for Development Site in Queens

by David Cohen February 26, 2019

NEW YORK CITY — Cushman & Wakefield has arranged a $13.4 million bridge loan for two adjacent development sites in the Jamaica neighborhood of Queens. Located at 89-25 and 89-26 162nd St., the sites total approximately 237,000 square feet. Preston Flammang, Jessica Ke and Anthony D’Amelio of Cushman and Wakefield represented the borrower, Great Atlantic Construction, in the transaction. The lender was Lightstone Capital Markets. Terms of the financing were not disclosed.

February 26, 2019

Leasing Activity New York Northeast Office

LYFT Signs 100,638 SF Office Lease in Manhattan

by David Cohen February 25, 2019

NEW YORK CITY — Rideshare company Lyft, inc. has signed a 100,638-square-foot lease at Hudson Commons, a 28-story office tower in Manhattan. The building is located at 441 Ninth Ave. Cove Property Group, in partnership with the Baupost Group, purchased the property in December 2016 from Emblem Health. CBRE represented Cove Property Group in the transaction. Lyft was represented by Steven Rotter and Justin Haber of JLL. Peloton Inc. also signed a 312,200-square-foot lease at Hudson Commons in November 2018.

February 25, 2019

Acquisitions Multifamily New York Northeast

Marcus & Millichap Negotiates $3.3M Sale of Apartment Building in Brooklyn

by David Cohen February 22, 2019

NEW YORK CITY — Marcus & Millichap has negotiated the $3.3 million sale of an eight-unit apartment building in the Bushwick neighborhood of Brooklyn. The property is located at 283-285 Evergreen Ave. Shaun Riney, Daniel Greenblatt and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

February 22, 2019

Company News Lument Multifamily New York Northeast RED Capital Group

RED Mortgage Capital Adds New York Lending Office

by David Cohen February 22, 2019

NEW YORK CITY — RED Mortgage Capital has added a new multifamily affordable lending office in New York. Sean Cullen and Ronnie Gyani will lead the operations of the office. Previously, Cullen and Gyani worked together providing affordable housing services at RBC Capital Markets as well as ACRE Capital. Most recently they served at Barings Multifamily Capital originating affordable housing loan products, including Fannie Mae, Freddie Mac, FHA/HUD and balance sheet executions.

February 22, 2019

Loans Multifamily New York Northeast

Greystone Bassuk Arranges $59M Refinancing for Multifamily Building in Midtown West

by David Cohen February 21, 2019

NEW YORK CITY — Greystone Bassuk has arranged a $59 million loan to refinance The Nicole, a 19-story, 149-unit multifamily building in the Midtown West neighborhood of Manhattan. Located at 400 W. 55th St., the property was completed in 2003 and is comprised of 149 residential units as well as 34,000 square feet of commercial space. Drew Fletcher, Matthew Klauer and Steven Deck of Greystone Bassuk secured a 15-year, fixed-rate loan on behalf of the borrower, Gotham Organization Inc., through lender Wells Fargo Multifamily Capital.

February 21, 2019

Acquisitions Hospitality Multifamily New York Northeast Seniors Housing

Capital Senior Housing Buys Hotel on Long Island for Seniors Housing Conversion

by David Cohen February 21, 2019

PLAINVIEW, N.Y. — Capital Senior Housing has acquired the Plainview Residence Inn by Marriott in Plainview, with plans to convert the property into seniors housing. Metropolis Property Group LLC represented the seller, Greenbriar Associates LLC, in the $20.3 million sale. Metropolis collaborated with Avison Young’s hospitality group to negotiate the sale. The 150,000-square-foot property houses 170 rooms. Capital plans to spend another $12 million to convert the hotel into a 111-unit seniors housing community.

February 21, 2019

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $3.4M Sale of Two-Building Apartment Portfolio in Queens

by David Cohen February 21, 2019

NEW YORK CITY — Marcus & Millichap has brokered the $3.4 million sale of a two-building apartment portfolio in the Flushing neighborhood of Queens. The two six-unit properties are located at 1868 Putnam Ave. and 1862 Cornelia St. Shaun Riney, Thomas Shihadeh and Andrew Reiter of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

February 21, 2019

Newer Posts

Older Posts

Upcoming Events

Aug
18