NEW YORK CITY — Rockefeller Group has signed Mayer Brown LLP to a 49,000-square-foot lease at 1221 Avenue of the Americas, a 50-story office tower in Manhattan. The global legal services firm now occupies five floors and 235,000 square feet at the building. Mayer Brown was represented by Bob Flippin, Andrew Sussman, Lauren Crowley Corrinet and Anthony Dattoma of CBRE in the transaction. Rockefeller Group was represented by an in-house team led by Ed Guiltinan. Following the transaction, the office space at the 2.6 million-square-foot building is now 97 percent occupied.
NEW YORK CITY — Capital One has provided a $20 million construction loan to Bernstein Real Estate for the development of a 24-story multifamily property at 211 W. 29th St. The property, which is located in the Chelsea neighborhood of Manhattan, will feature 38 free-market units, 17 affordable units and 3,150 square feet of ground floor retail space. Amenities at the building will include a 24-hour doorman, gym, bike room and a laundry room. Built on a former parking lot, the project will benefit from a 421-A real estate tax abatement with full taxes abated for 25 years.
NEW YORK CITY — Cushman & Wakefield has arranged the $6.5 million sale of 145 18th Street, a 16,577 square-feet brick warehouse in Brooklyn’s Greenwood Heights neighborhood. The property allows for 33,154 buildable square feet of commercial development, according to local zoning regulations. Winfield Clifford, William Barrett and Junji Miyake of Cushman & Wakefield represented the seller, Adel Rootstein USA, in the transaction. The buyer was SNL Storage. Nearby retailers include Costco, Home Depot, Lowe’s, Petco and ABC Carpet & Home.
NEW YORK CITY — The Feil Organization has signed three tenants to nearly 52,000 square feet of office leases at 841 Broadway, 250 Park Ave. South, and 257 Park Ave. South in Manhattan. Global professional services firm Ernst & Young renewed its lease at 841 Broadway for a total of 27,000 square feet; cryptocurrency trading firm Digital Currency Group signed a new 11,985-square-foot lease at 250 Park Ave. South; and digital marketing agency Bulletproof signed a new 13,000-square-foot lease for the entire eighth floor of 257 Park Ave. South. Feil’s three-building portfolio in Manhattan is 98 percent occupied following the transactions.
LONG ISLAND, N.Y. — Carnegie Capital has arranged a $24 million bridge loan to refinance a two-story skilled nursing and assisted living facility along the North Shore of Long Island. The borrower is a local owner-operator that has managed the property for over a decade. The community includes 324 licensed beds. The name of the facility was not disclosed. The two-year loan will restructure operating debt and fund a rehabilitation of the upper level. The note features a fixed rate with a flexible exit after the first year to give the owner the option to either refinance or dispose of the asset. JD Stettin of Carnegie Capital arranged the financing. A private bridge fund provided the capital.
NEW YORK CITY — Madison Realty Capital has provided a $55 million construction loan for a mixed-use development underway at 948 Myrtle Ave. in Brooklyn. The loan will be used to complete construction of the project and to refinance existing debt, as well as cover any additional costs associated with the transaction. Meridian Capital previously provided a $15 million bridge loan to the borrower, an experienced local builder, for the project in late 2017. The developer plans to construct a three-building, 214,487-square-foot mixed-use project on the site that will feature rental and condominium units as well as ground-floor retail and parking. The developer acquired the site in December 2014 and has now completed all demolition, site excavation and foundation work. The project is slated for completion in 2020.
NEW YORK CITY — Flexible workspace provider Knotel has signed a 10-year, 23,800-square-foot lease at 6 West 48th St. in Midtown Manhattan. Knotel will occupy the entire second floor through the fourth floor at the 12-story office building as well as the top floor and penthouse. Amanda Bokman and Lloyd Desatnick of JLL represented the building owner in the transaction. Knotel was represented by Elie Reiss of Skylight Leasing. Constructed in 1919, the boutique office building features a recently renovated lobby and is located between Fifth Avenue and Rockefeller Plaza.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 934 Sterling Place, an eight-unit apartment property in Brooklyn. The sales price was $2.9 million. Shaun Riney of Marcus & Millichap represented the seller, a private investor, and the buyer, also a private investor, in the transaction. The four-story property was built in 1905 and is located in the Crown Heights neighborhood of Brooklyn.
NEW YORK CITY — NKF Capital Markets and Cooper-Horowitz have secured a $342 million refinancing for 850 Third Ave., a 21-story, 617,322-square-foot office building in Midtown Manhattan. The owner is a partnership between HNA Property Holdings, ATCO Properties & Management, and MHP Real Estate Services. NKF Capital Markets and Cooper-Horowitz arranged the short term, floating-rate loan through Natixis and Paramount Group. The NKF Capital Markets’ team was led by Jordan Roeschlaub, Dustin Stolly, Nick Scribani and Chris Kramer. Spanning a full block with continuous frontage along Third Avenue between East 51st and 52nd Streets, the building is currently 91 percent occupied by tenants in the media, legal, real estate, entertainment, healthcare and financial sectors. Discovery Communications is currently the building’s largest tenant at 189,470 square feet.
NEW YORK CITY — Meridian Capital Group has arranged $68 million in acquisition financing for a 12-story mixed-use building in Brooklyn. Drew Anderman, Grant Carlson and Josh Berman of Meridian represented the borrower, Trinity Place Holdings, in the transaction. The 24-month loan, which an undisclosed lender provided, features a floating rate of 3.72 percent over the 30-day LIBOR and full-term interest-only payments. Located at 237 11th St. in the Park Slope neighborhood of Brooklyn, the newly built property contains 105 residential units and 6,200 square feet of retail space, which is partially leased to Starbucks. Amenities include washers and dryers in all units, tenant-controlled HVAC systems, a doorman, rooftop terrace, fitness center and parking garage.