NEW YORK CITY — Foster Garvey PC has signed a 10-year, 11,445-square-foot office lease at One Seaport Plaza in Lower Manhattan. The law firm will relocate from 100 Wall Steet to the ninth floor of the 1.1 million-square-foot building, which is located at 199 Water St., beginning this fall. Nicholas Farmakis and Steve London of Savills represented Foster Garvey in the lease negotiations. John Cefaly, Ethan Silverstein, Stephen Bellwood and Rachel Rosenfeld of Cushman & Wakefield, along with internal agents Brett Greenberg and Adam Rappaport, represented the landlord, Jack Resnick & Sons.
NEW YORK CITY — JLL has arranged an $80 million loan for the refinancing of a 152-unit apartment building in Manhattan’s West Village neighborhood. The 10-story, freshly renovated building at 110 Horatio St. houses 87 studios, 42 one-bedroom residences,18 two-bedroom units and five penthouses. Amenities include a landscaped roof terrace, resident lounge, onsite laundry facility and a fitness center. Geoff Goldstein, Steven Klein and Chris Pratt of JLL arranged the 10-year, fixed-rate loan through investment manager AXA IM Alts on behalf of the borrower, an affiliate of Rockrose Development. The building was approximately 99 percent occupied at the time of the loan closing.
COMMACK, N.Y. — Gap Factory will open a 12,800-square-foot store in the Long Island community of Commack. The space is located within the 222,000-square-foot Mayfair Shopping Center. E.J. Moawad of Levin Management Corp. represented the undisclosed landlord in the lease negotiations. Michael Friedman of Inline Realty represented the tenant. A prospective opening date has not yet been determined.
NEW YORK CITY — Merchants Capital has arranged $231 million in financing for Eastchester Gardens, an 877-unit affordable housing community in The Bronx. The 10-building development was originally constructed in 1950 and is home to nearly 2,000 people. The bulk of the financing consists of a $221.7 million, 30-year Freddie Mac CME permanent loan, proceeds of which will be used to fund capital improvements and preserve affordability of all units for renters earning 60 percent or less of the are median income. Capital improvements will include upgrades to heating, cooling, plumbing, lighting and electrical systems, as well as new flooring, kitchens and bathrooms and upgrades to common areas and outdoor spaces. In addition, Eastchester Gardens will be listed on the National Register of Historic Places, enabling the use of federal historic tax credits to support the property’s revitalization. The project team includes MDG Design + Construction, Infinite Horizons, Wavecrest Management and the New York City Housing Authority. Construction is underway and expected to be complete in 2028.
NEW YORK CITY — A partnership between two locally based firms, Charney Cos. and Tavros, has received $525 million in construction financing for a 55-story multifamily tower that will be located in the Long Island City area of Queens. Greystone arranged the financing, which consists of $425 million in debt from Madison Realty Capital and $100 million in equity from Kushner and OneIM. Plans call for 636 condos in studio, one-, two- and three-bedroom formats, as well as Class A amenities and retail space that will be occupied by grocery and fitness users. A formal name for the project, which will be located at 24-19 Jackson Ave. and 45-03 23rd St. in the Court Square area, has not yet been determined. FXCollaborative designed the building, completion of which is slated for 2028.
NEW YORK CITY — Marcus & Millichap has brokered the $6.2 million sale of a 17,934-square-foot mixed-use building in the Williamsburg neighborhood of Brooklyn. The three-story building at 167 N. 9th St. consists of 10 residential units and four commercial spaces. Shaun Riney and Michael Salvatico of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors that requested anonymity, in the transaction.
NEW YORK CITY — Nonprofit organization ElderServe Health has signed a 14,551-square-foot office lease renewal in the Midwood area of Brooklyn. The space is located on the second floor of the building at 1630 E. 15th St., which was constructed in 2006. Bert Rosenblatt, Peter Sabesan and Alex Gerome of Cresa represented the tenant, which does business as RiverSpring Health Plans, in the lease negotiations. Mike Taylor represented the landlord, Lincoln Property Co., on an internal basis.
MONTAUK, N.Y. — Marcus & Millichap has negotiated the $34.3 million sale of a portfolio of nine buildings totaling 48,145 square feet in Montauk, located on Long Island’s South Fork. Known as Gosman’s Dock, the portfolio spans 11.6 acres and consists of four restaurants, a fish market, six retail stores, four staff residences, a parking area, marina, fish charter facilities and a boat rental site. The sale also included vacant land that can support the development of a 46-room hotel. Henri Kessler, Michael Tuccillo and Eric Anton of Marcus & Millichap represented the seller, a group that includes the Gosman Family, and procured the buyer, private equity firm Black Diamond Capital Management.
NEW YORK CITY — Newmark has arranged a $675 million loan for the refinancing of Independence Plaza, a 1,328-unit apartment complex located at 40 Harrison St. in the Tribeca area of Manhattan. A consortium of lenders consisting of Deutsche Bank, Wells Fargo, Bank of America and Morgan Stanley provided the debt to the borrower, a partnership between Vornado Realty Trust (NYSE: VNO) and Stellar Management. Jordan Roeschlaub, Nick Scribani, Jonathan Firestone and John Caraviello led the transaction for Newmark. Independence Plaza consists of three 39-story residential towers, a series of townhomes, an onsite parking garage and four contiguous blocks of retail frontage for a total footprint of 1.4 million square feet. Units come in studio, one-, two- and three-bedroom floor plans, as well as and duplexes, and many apartments are newly renovated and feature walk-in closets, large balconies and washers and dryers. Amenities include a pool, fitness center and a children’s play area. According to the property website, there are currently five units available for rent. — Taylor Williams
BAY SHORE, N.Y. — JLL has arranged a $140 million loan for the refinancing of Shoregate, a 418-unit, newly constructed apartment community located in the Long Island community of Bay Shore. The four-story, transit-oriented property houses 334 market-rate units and 84 affordable apartments, as well as 1,650 square feet of retail space. Amenities include a pool and patio area, fitness center, outdoor barbecue stations, dog washing area, a rooftop deck, indoor golf simulator and courts for bocce ball and pickleball. Kellogg Gaines, Geoff Goldstein and Michael Gigliotti of JLL arranged the loan through Truist Financial Corp. on behalf of the borrower, a partnership led by Tritec Real Estate Co.