SYRACUSE, N.Y. — Virginia-based private equity firm Excel Group has acquired the 209-room Embassy Suites by Hilton Syracuse Destiny USA. The name stems from the property’s location adjacent to Destiny USA, a 2.4 million-square-foot shopping, dining and entertainment destination. The hotel opened in 2017 and offers amenities such as a indoor pool, fitness center, business center and meeting rooms. The seller and sales price were not disclosed. The new ownership has tapped Island Hospitality Management to manage the hotel.
NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $12.5 million permanent loan for The Jackson, a 40-unit apartment building located in the Jackson Heights area of Queens. The newly built property houses studio, one- and two-bedroom units with an average size of about 600 square feet, as well as ground-floor retail space that is leased to T-Swirl Crepe, Pizza Hut, Alta Aesthetics and a law firm. Amenities include a fitness center and a rooftop terrace. Andrew Stewart and Allison Villamagna of Cronheim originated the debt. The direct lender and borrower were not disclosed.
NEW YORK CITY — Locally based investment firm Savanna has acquired 799 Broadway, a 176,588-square-foot office building in Manhattan’s Greenwich Village area, for $255 million. Designed by Perkins & Will, the 12-story building was completed in 2022 and was 71 percent leased at the time of sale, with the tenant roster carrying a weighted average remaining lease term of 11 years. The building also houses a tenant lounge, outdoor amenity spaces and ground-floor retail space. Gary Phillips and Will Silverman of Eastdil Secured represented the seller, a partnership between Columbia Property Trust and Cannon Hill Capital Partners, in the transaction. The duo also procured Savanna as the buyer.
WOODBURY, N.Y. — CBRE has brokered the $23.5 million sale of a 255,019-square-foot office building in Woodbury, a hamlet located on the east side of Nassau County on Long Island. According to LoopNet Inc., the four-story building at 1000 Woodbury Road was originally constructed in 1984 and renovated in 2007. Jeff Dunne, Steve Bardsley, Travis Langer and Philip Heilpern of CBRE represented the seller, RXR Realty, in the transaction. The team also procured the buyer, TKF Burnside Real Estate. At the time of sale, the building was 61 percent leased, with energy services provider Petro and law firm Milber Makris serving as the anchor tenants.
NEW YORK CITY — Locally based brokerage firm OPEN Impact Real Estate has arranged a 27,147-square-foot office lease in Brooklyn. The tenant, social services provider Rising Ground Inc., will occupy the entire 20th floor and part of the 19th floor at 111 Livingston St. in the Brooklyn Heights neighborhood. Stephen Powers, Lindsay Ornstein, Alexander Smith and Kendall Elliott of OPEN Impact represented the tenant, which plans to take occupancy next spring, in the lease negotiations. The undisclosed landlord was self-represented.
WHITE PLAINS, N.Y. — JLL has brokered the sale of The Halden, a 303-unit apartment community located north of New York City in White Plains. Built in 2023, the property offers one-, two- and three-bedroom units with an average size of 999 square feet. Amenities include a pool, clubroom, pet spa, conference room, café and lounge, fitness center and outdoor lounge seating. JLL represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The Halden was 96 percent occupied at the time of sale.
NEW YORK CITY — Urban Atelier Group has signed a 25,270-square-foot office lease at 41 Madison Ave. in Midtown Manhattan. The New York-based construction management firm will relocate from an 18,000-square-foot space at 85 Fifth Avenue in the second quarter of 2025 to the entire 12th and 13th floors of the 42-story, 560,000-square-foot building. The lease term is 15 years. Ross Eisenberg of RDE Advisors represented the tenant in the lease negotiations. Robert Steinman represented the landlord, Rudin, on an internal basis.
NEW YORK CITY — Interior design firm Staged To Sell Home will open a 23,856-square-foot office and showroom in the Sunset Park area of Brooklyn. The lease term is seven years, and the space is located within Building 22 of Industry City, a 35-acre mixed-use development. Noah Jay of Compass represented the tenant in the lease negotiations. Brad Blum internally represented the landlord, a partnership between Belvedere Capital, Jamestown and Angelo Gordon & Co. A tentative opening date was not announced.
NEW YORK CITY — CBRE has arranged a 14,071-square-foot office lease expansion at 575 Madison Ave. in Midtown Manhattan. The tenant, international law firm Kozusko Harris Duncan LLP (KHD), will relocate from the 24th floor, where it occupies 8,629 square feet, to part of the 12th floor of the 25-story building. Chris Mansfield, Zac Price and Tara Rhodes of CBRE represented KHD in the lease negotiations. William Hooks, David Hollander, Gregg Rothkin, Bradley Auerbach and Maxwell Tarter, also with CBRE, represented the landlord.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $31.5 million sale of a 127-unit affordable housing building in Harlem. The building at 34 W. 139th St. was originally constructed in 2007. Victor Sozio, Shimon Shkury, Remi Mandell and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. Information on floor plans and income restrictions, as well as the buyer, was also not disclosed.