NEW YORK CITY — Home and business security services provider Brink’s Inc. has signed an 8,036-square-foot office lease at 400 Madison Avenue in Midtown Manhattan. The 22-story building was originally constructed in 1929 and recently underwent a capital improvement program that included a new lobby and amenity center. Harry Blair, Lauren Hale and Michelle Mean of Cushman & Wakefield represented the landlord, Daishin America LLC, in the lease negotiations. Kyle Young of JLL represented Brink’s.
PURCHASE, N.Y. — Release Recovery, which provides counseling and treatment for substance abuse and mental health disorders, has opened a 7,698-square-foot outpatient healthcare clinic in Purchase, about 30 miles north of Manhattan. The space at 3020 Westchester Ave. is located within the 220,000-square-foot Purchase Professional Park and houses multiple treatment spaces and a yoga room. Simone Development Cos. owns Purchase Professional Park and was represented in the lease negotiations by in-house agent Sean Heneghan and Matthew Lisk of Cushman & Wakefield.
NEW YORK CITY — Cushman & Wakefield has arranged a $135 million construction loan for a 328-unit multifamily project that will be located at 975 Nostrand Ave. in Brooklyn. The site is at the intersection of the Crown Heights and Prospect Leffert Gardens neighborhoods. About 30 percent (99 units) of the nine-story building’s residences will be reserved as affordable housing, and the amenity package will feature a rooftop terrace, landscaped courtyard, fitness center, karaoke room and a pet spa. A 21,000-square-foot FRESH supermarket will anchor the project’s retail component, which will include an additional 4,200 square feet of small-shop space. Construction is slated for a fourth-quarter 2025 completion. Gideon Gil, Zachary Kraft and Sebastian Sanchez of Cushman & Wakefield arranged the loan through Santander Bank and Related Cos. on behalf of the borrower, Hudson Cos.
TROY, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center in Troy, located just north of Albany. Big Lots anchors the center, which sits on a 12.2-acre site and was 97 percent leased at the time of sale. Other tenants include Friendly’s, Sonic, Subway, Starbucks, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
EAST SETAUKET, N.Y. — Stony Brook University Hospital has signed a 16,000-square-foot lease on Long Island. The regional provider now occupies an entire 25,000-square-foot building within the 103-acre Stony Brook Technology Center campus in East Setauket. David Leviton from JLL represented the tenant in the lease negotiations. Maria Valanzano and Steven D’Orazio of Colliers represented the landlord, TRITEC Real Estate Co.
MONTGOMERY, N.Y. — New York-based developer Ridgecut Road will develop a 146,075-square-foot industrial project in Montgomery, located about 70 miles northwest of Manhattan in Orange County. The site spans 13.6 acres, and the facility will be branded I-84 Orange County Logistics Center. Building features will include a clear height of 36 feet, 31 dock doors and parking for 16 trailers and 83 cars. Premier Design + Build Group is handling architecture and construction work. Jim Pancyzkowski and Zach Antonucci of JLL are marketing the development for lease. Guy Hananya of Clear Height Advisors brokered the off-market land deal. Ridgecut Road plans to break ground on the project later this year.
TONAWANDA, N.Y. — Locally based financial intermediary Largo Capital has arranged a $12.1 million loan for the refinancing of a 307,000-square-foot warehouse located just outside of Buffalo in Tonawanda. The building, which features a clear height of 36 feet, 28 dock-high doors and two drive-in doors, was fully leased at the time of the loan closing. Jack Phillips of Largo Capital arranged the loan on behalf of the undisclosed borrower. The name of the direct lender was also not disclosed.
NEW YORK CITY — Pearl World has signed a 12-year, 8,800-square-foot office lease at Carnegie Hall Tower in Manhattan’s Plaza District. The space of the cosmetics retailer, which is relocating from 37 West 57th Street, spans the entire 48th floor and can also support its showroom. Dennis Someck and Justin Myers of Lee & Associates represented Pearl World in the lease negotiations. Matt Leon with Newmark represented the landlord, TF Cornerstone.
NEW YORK CITY — Cushman & Wakefield has negotiated a 12,500-square-foot office lease at 277 Park Avenue in Midtown Manhattan. The tenant, ERM Engineering & Consulting Inc., will occupy part of the 20th floor of the 1.8 million-square-foot building. Mark Boisi, Bryan Boisi and Stephen Bellwood of Cushman & Wakefield represented the landlord, The Stahl Organization, in the lease negotiations. Kirill Azovtsev of Savills represented the tenant.
NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $2 million sale of a 29-unit apartment building located at 407 W. 205th St. in Manhattan’s Inwood neighborhood. The five-story building was originally constructed in 1911. Ben Khakshoor, Aaron Jungreis and Alex Fuchs of Rosewood represented both the buyer, Gilman Management, and the seller, family office Ramer & Saperstein, in the transaction. The deal traded at a cap rate of 7.8 percent.
