New York

Forest City Ratner Cos. Opens 32-Story Residential Tower in Brooklyn

by Amy Works November 16, 2016

NEW YORK CITY — Forest City Ratner Cos. has opened 461 Dean, the world’s tallest modular tower and only modular residential high rise. Located at Greenland Forest City Partners’ Pacific Park Brooklyn, the 32-story high-rise tower features 363 rental apartments. Designed by SHoP Architects, the tower features 149 studios, 166 one-bedroom apartments and 48 two-bedroom apartments, with 23 original unit configurations. Unit prices for studios start at $2,450, one bedrooms start at $3,125 and two bedrooms start at $4,750. On-site amenities include a 24-hour doorman, modern fitness center, yoga and dance studio, sky lounge and rooftop terrace, game room, and children’s playroom as well as in-unit washers/dryers. The property, which is slated for LEED Silver certification, is the first residential building to open at the 22-acre Pacific Park Brooklyn mixed-use community. Pacific Park Brooklyn is being developed by a joint venture between Greenland USA and Forest City Ratner Cos., which is a wholly owned subsidiary of Forest City Realty Trust.

November 16, 2016

Multifamily New York Northeast Student Housing

Magnum Real Estate, Winter Properties Complete 505-Bed Residence Hall at the School of Visual Arts

by Amy Works November 15, 2016

NEW YORK CITY — A partnership between Magnum Real Estate Group and Winter Properties has completed the development of 24th Street Residence, a 505-bed residence hall located at the School of Visual Arts in New York City. Designed by Ismael Leyva Architects, the recently completed 146,827-square-foot building features student housing, rotating exhibition space, retail and office facilities. The residence hall offers double and triple rooms in a micro-apartment format, each featuring a private bathroom and kitchenette. Community amenities include an outdoor terrace with a barbecue and wet bar; a fully equipped fitness center and yoga room; a theater; a multi-media room and lounge; bike storage; and indoor laundry facilities.

November 15, 2016

New York Northeast Office

Cushman & Wakefield Appoints Bruce Mosler as Chair of its Veterans Initiative

by Amy Works November 15, 2016

NEW YORK CITY — Cushman & Wakefield has appointed Bruce Mosler, chairman of Global Brokerage, as chair of the firm’s Veterans Initiative. In this role, Mosler will oversee a comprehensive program aimed at hiring U.S. veterans into various service lines and geographies at the Cushman & Wakefield. In order to meet its goal of hiring additional veterans to its workforce, the company will leverage existing relationships with partner veteran-focused organizations, like Syracuse University’s Institute for Veterans and Military Families and the Fisher House Foundation. Additionally, the firm will work closely with the Veterans Jobs Mission, a coalition of more than 230 companies that have collectively employed 348,000 veterans.

November 15, 2016

Multifamily New York Northeast

HFF Closes $148.5M Sale of 25-Story Apartment Building in New Rochelle, New York

by Amy Works November 14, 2016

NEW ROCHELLE, N.Y. — HFF has facilitated the sale of La Rochelle, a 25-story luxury apartment building located at 255 Huguenot St. in New Rochelle. Boston-based DSF Group acquired the 412-unit property from 255 Huguenot Street Corp. for $148.5 million. The property features 43 studios, 142 one-bedroom, 185 two-bedroom and 42 three-bedroom units, including loft-style apartments and penthouse suites. Additionally, the building features 6,000 square feet of ground-floor retail space, a 422-space parking garage and rights for the development of an additional 40-story residential tower. On-site amenities include an outdoor swimming pool with sundeck, clubroom with fireplace, conference room, state-of-the-art fitness center, yoga room and a landscaped courtyard with grilling area. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.

November 14, 2016

Loans New York Northeast Office

Meridian Capital Secures $30M in Financing of Office Property in Manhattan

by Amy Works November 14, 2016

NEW YORK CITY — Meridian Capital Group has arranged $30 million in financing for the refinance of an office property located at 264-268 W. 40th St. in Manhattan’s Garment District. The 10-year loan, provided by a national balance sheet lender, features a competitive fixed rate of 3.5 percent. Avi Weinstock, Josh Rhine and Luke Hingson of Meridian secured the financing for the borrower, Renaissance Properties. The 20-story, 120,000-square-foot office building is occupied by 40 tenants, including two restaurants as retail tenants.

November 14, 2016

Affordable Housing Multifamily New York Northeast

Rosewood Realty Facilitates $42M Acquisition of Affordable Housing Complex in the Bronx

by Amy Works November 11, 2016

NEW YORK CITY — Rosewood Realty Group has arranged the acquisition of Noonan Plaza, an affordable housing complex located at 105 W. 168th St. in the South Bronx’s Highbridge neighborhood. Spencer Equity acquired the property for $42 million. The seven-story, 335,000-square-foot asset features 283 residential units and eight retail units. Aaron Jungreis of Rosewood Realty Group represented the buyer and the seller, Joel Leder (Noonan Plaza LLC), in the transaction.

November 11, 2016

Hospitality New York Northeast

Waramaug LS Hotels Acquires Holiday Inn Express in Hauppauge, New York

by Amy Works November 11, 2016

HAUPPAUGE, N.Y. — Waramaug LS Hotels has purchased the Holiday Inn Express Hauppauge Long Island in Hauppauge for an undisclosed price. Opened in 2001, the seven-story, 133-room hotel recently underwent a comprehensive renovation that upgraded the entire property to latest brand standards. The hotel features an indoor swimming pool, business center, fitness center, sundry shop, complimentary breakfast, free high-speed wireless internet and two meeting rooms. The name of the seller was not released.

November 11, 2016

Loans New York Northeast Office

Eastern Union Funding Arranges $15M Office Building Refinance in Staten Island

by Amy Works November 11, 2016

NEW YORK CITY — Eastern Union Funding has secured a $15 million non-recourse loan to refinance an office building located at 201 Edward Curry Ave. in Staten Island. The borrower, Addwel LLC, occupies 40 percent of the three-story, 82,528-square-foot office building. Additional tenants include ADCO Electric, IDB Bank, TCE Insurance Services and Vaslas Lepowsky Hauss & Danke. Meir Kessner of Eastern Union Funding arranged the financing, which was provided by Bethpage Federal Credit Union.

November 11, 2016

Multifamily New York Northeast

Anbau Launches Sales at 19-Unit Condo Building in Manhattan

by Amy Works November 10, 2016

NEW YORK CITY — Anbau has launched sales at 207W79, a luxury condominium located at 207 W. 79th St. in Manhattan’s Upper West Side. Designed by Morris Adjmi Architects, the property features 19 two- to six-bedroom residences, including two townhouses and a penthouse, ranging from 1,662 to 4,336 square feet and priced from $3.9 million to $15 million. On-site amenities include a 24-hour attended lobby, fitness studio, versatile playroom with bleacher seating and integrated cushioned benches, a bike room and private storage space for purchase.

November 10, 2016

Mixed-Use Multifamily New York Northeast Retail

Cushman & Wakefield Negotiates $21M Sale of Mixed-Use Multifamily Asset in Manhattan

by Amy Works November 9, 2016

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use multifamily asset located at 59 Thompson Street in Manhattan’s SoHo neighborhood. Veracity Equities acquired the property from Whistlepig Associates for $21.5 million, or approximately $1,315 per square foot. The six-story, 15,918-square-foot building comprises two ground-floor commercial units and 34 residential apartments. Of the residential units, 27 are free market and seven are subject to rent stabilization. Robert Burton and Keegan Mehlhorn of Cushman & Wakefield brokered the all-cash transaction.

November 9, 2016

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