New York

Passive-East-Harlem-NYC

NEW YORK CITY — New York City Department of Housing Preservation and Development and Housing Development Corp. have selected Jonathan Rose Cos. and L+M Development Partners to develop a mixed-use, sustainable community on East 111th Street in East Harlem. Slated to be constructed in three phases, the property will bring 655 affordable rental units to the area with 163 designated as permanently affordable, 20 percent for extremely low-income households, nearly 60 percent for low-income households and 79 affordable seniors housing units. The development will also include an 85,000-square-foot Harlem RBI/Dream Charter School, an 11,000-square-foot Union Settlement Community Space, a 29,000-square-foot YMCA facility, a 26,000-square-foot Mount Sinai East Harlem Community Health Center, a 7,500-square-foot Urban Market grocery store and a Two Boots Pizza location. Designed by Handel Architects, the project is utilizing a passive design that will result in 60 to 70 percent less energy usage than a standard building of its kind. Passive design uses building placement within a site to maximize environmental factors to reduce energy usage for heating and cooling.

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NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use property located at 106 Franklin St. in Manhattan’s Tribeca East Historic District. An undisclosed buyer acquired the 10,500-square-foot property for $11.5 million, or $1,095 per square foot. Partially vacant at the time of sale, the five-story building features 4,200 square feet of additional air rights. Will Suarez and Maurice Suede of Cushman & Wakefield represented the undisclosed seller, while Rachel Glazer of Brown Harris Stevens represented the buyer in the deal.

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1520-1530-Story-Ave-NYC

NEW YORK CITY — L+M Development Partners and Nelson Management Group have started construction on two affordable multifamily properties at 1520 and 1530 Story Ave. within the Lafayette Boynton apartment complex in the Soundview neighborhood of the Bronx. Combined the two 13-story buildings will feature 435 units in a mix of studio, one-, two- and three-bedroom units. On-site amenities include a fitness center and a 7,500-square-foot community facility space. Additionally, the project will include two acres of landscaped greenspace with walking paths between the properties, a children’s play area and an outdoor fitness center. Nelson Management Group is undertaking the project through its investment arm Global One Investments.

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Camillus-Plaza-Syracuse-NY

SYRACUSE, N.Y. — Integra Real Estate Capital has arranged a $5.5 million non-recourse loan for the refinance of Camillus Plaza, a retail center located in Syracuse. Rite Aid Pharmacy, Visionworks and Solvay Bank anchor the 45,000-square-foot shopping center. Meyer Perlman of Integra secured the 10-year fixed-rate loan through a CMBS lender for the borrower, a New York-based ownership group.

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Theater-House-NYC

NEW YORK CITY — PCCP has provided a $66 million senior loan to Coral Realty for the recapitalization and lease-up of Theater House, a newly developed apartment tower located at 237 E. 34th St. in the Kips Bay submarket of Midtown Manhattan. The 25-story property is 99 percent complete with move-in slated for March. Theater House features 105 units in studio, one- and two-bedroom layouts, 7,000 square feet of indoor and outdoor communal space, a 24/7 gym facility and a 24/7 doorman. Coral Realty is a privately owned real estate firm focused on developing residential units in New York City and Florida.

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NEW YORK CITY — Royal Bank of Canada has renewed its 400,000-square-foot lease of office space at 200 Vesey Street at Brookfield Place New York in Lower Manhattan. RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, will continue to occupy floors 6 (partial), 8-12, 14 and 25 (partial) at the 51-story office tower until 2032. Bruce Mosler, Ethan Silverstein, Dale Schlather, Al Edwards, John Bestill and Chuck Scott of Cushman & Wakefield represented the tenant. The landlord, Brookfield Properties, was represented in-house.

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NEW YORK CITY — A partnership between Quadrum Global and Simon Baron Development has secured a $70 million loan for the refinancing of 393 West End Avenue, a 17-story residential tower in Manhattan’s Upper West Side. The 114-unit property features one-, two-, three- and four-bedroom layouts, a 24-hour concierge, rooftop terrace, residents’ lounge, fitness center and children’s playroom. Ayush Kapahi of HKS Capital Partners sourced the loan from Signature Bank.

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36-20-Steinway-St-Long-Island-City-NY

NEW YORK CITY — JMH Development and Mettle Property Group have signed a franchise agreement with Hilton to develop a dual-branded Homewood Suites by Hilton and Hampton Inn by Hilton hotel property at 36-20 Steinway St. in Long Island City. Designed by Gene Kaufman Architects, the property will feature 289 hotel rooms consisting of 187 Hampton Inn keys and 102 Homewood Suites keys. Additionally, the property will feature a private roof deck, lobby and lobby bar, fitness center, meeting rooms and 18,000 square feet of retail space. The hotels are slated to open in 2018.

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TARRYTOWN, N.Y. — SL Green Realty Corp. has entered into an agreement to sell an office building located at 520 White Plains Road in Tarrytown. An undisclosed buyer will purchase the 180,000-square-foot building for $21 million, or $117 per square foot. Jeff Dunne of CBRE represented the buyer in the deal, which is expected to close during the second quarter.

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