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75-W.-Huron-St.-Buffalo
AcquisitionsCivicLee & AssociatesNew YorkNortheastRetail

Lee & Associates Brokers $33.2M Sale of Buffalo Academic Building

by Taylor Williams

BUFFALO, N.Y. — Lee & Associates has brokered the $33.2 million sale of a 102,000-square-foot academic building located at 75 W. Huron St. in Buffalo. The Buffalo School of Culinary Arts & Hospitality Management occupies the entirety of the seven-story building, which was originally built in the late 19th century as a horse livery and was later used as a multi-story parking garage before being transformed into a school. Dave Carswell and Ben Tapper of Lee & Associates represented the seller, locally based firm McGuire Development Co., in the transaction. Carswell also assisted the buyer, Mercer Street Partners, in securing acquisition financing for the deal.

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Leasing ActivityNew YorkNortheastOffice

New York State Office of General Services Signs 66,106 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — The New York State Office of General Services has signed a 15-year, 66,106-square-foot office lease expansion at 919 Third Avenue in Midtown Manhattan. The space spans the entire 46th and 47th floors of the 1.5 million-square-foot building and brings the tenant’s footprint at the property to 117,390 square feet. Stephen Siegel, Liz Lash, Peter Larkin and Mark Bezold of CBRE represented the tenant in the lease negotiations. Robert Alexander, Ryan Alexander, Emily Chabrier, Taylor Callahan, Alex D’Amario and Nicole Marshal, also with CBRE, represented the landlord, SL Green.

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Sky Three Residences Club
DevelopmentMultifamilyNew YorkNortheastRetailTop Stories

Cammeby’s, Rybak Development Deliver 1 MSF Luxury Apartment Community in Brooklyn’s Coney Island

by Abby Cox

NEW YORK CITY — Cammeby’s International Group, in partnership with Rybak Development, has unveiled Sky Three Residences Club, a 1 million-square-foot luxury apartment community located in Brooklyn’s Coney Island neighborhood. Leasing has begun for the development, with move-ins expected to begin on Saturday, Nov. 1. The three-tower community was constructed as part of the two-phase Neptune/Sixth development plan, which joins a new retail strip that was built during Phase I. Sky Three Residences Club now anchors South Brooklyn’s West Brighton district. “Cammeby’s and its partners have consistently maintained and reinvigorated the retail offerings to ensure a walkable and vibrant neighborhood,” says a company spokesperson for Cammeby’s International. “With leasing at Sky Three underway, we’re proud to welcome residents to a reimagined West Brighton and to a community setting exceptional standards.” Sky Three features 499 apartment units in studio, one-, two- and three-bedroom floorplans, ranging in size from 500 to 1,000 square feet, according to Apartments.com. Monthly rental rates begin at $3,100. The project team included Zproekt Architecture and interior designer Durukan Design, as well as Tier 2 Landscape Architecture for the project’s exterior landscaping. The development offers more than 100,000 square feet of indoor and outdoor amenities, including an Olympic-size swimming …

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1885-Atlantic-Avenue-Brooklyn
LoansMultifamilyNew YorkNortheast

Affinius Capital Provides $36M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital has provided a $36 million loan for the refinancing of 1885 Atlantic Avenue, an 89-unit apartment building in Brooklyn. The property is located in the Stuyvesant Heights neighborhood and offers studio, one-, two- and three-bedroom units. According to StreetEasy, amenities include a fitness center, rooftop deck, media room, package room and onsite laundry facilities. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, New York-based developer The Jay Group, which will also use proceeds to fund leasing costs.

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Leasing ActivityNew YorkNortheastOffice

Huge Inc. Signs 16,909 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Huge Inc. has signed a 16,909-square-foot office lease in Midtown Manhattan. The global design and technology company will occupy the entire eighth floor of the 12-story building at  53 W. 23rd St. Jeff Buslik, Brad Cohn and Alan Bonett of Adams & Co. represented the landlord, an entity doing business as 23 R.P. Associates LLC, in the lease negotiations. Gabe Marans and David Mahoney of Savills represented the tenant.

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The-Dome-at-210-Greenpoint-Brooklyn
LoansMultifamilyNew YorkNortheast

Affinius Capital Funds $46M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Affinius Capital has funded a $46 million loan for the refinancing of The Dome at 210 Greenpoint, a 70-unit apartment building in Brooklyn. The property offers studio, one-, two- and three-bedroom units along with 6,200 square feet of retail space. According to StreetEasy, amenities include a fitness center, rooftop deck, bike room, package room and onsite laundry facilities. Henry Bodek of Galaxy Capital arranged the loan on behalf of the borrower, New York-based developer The Jay Group, which will also use proceeds to fund leasing costs.

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LoansMultifamilyNew YorkNortheast

Greystone Provides $30M in Agency Financing for Apartment Building in Manhattan

by Taylor Williams

NEW YORK CITY — Greystone has provided $30 million in Freddie Mac financing for Sloane Chelsea, a 266-unit apartment building in Manhattan. Originally built in 1930 and renovated in 1996, Sloane Chelsea offers a mix of studio, one-, two- and three-bedroom units and amenities such as a fitness center, laundry facilities and private storage space. Recent upgrades to the property include renovations to 180 units and a planned elevator modernization. Robert Meehan led the transaction for Greystone. The borrower was not disclosed.

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Leasing ActivityNew YorkNortheastRetail

SuperFresh to Open 22,500 SF Grocery Store at Ruby Square in Queens

by Taylor Williams

NEW YORK CITY — SuperFresh will open a 22,500-square-foot grocery store in Queens. The lease term is 25 years. The store at 166-20 90th Ave. is located in the Jamaica neighborhood within Ruby Square, a 614-unit, newly developed apartment building by BRP Cos. Hymie Dweck of RIPCO Real Estate represented SuperFresh in the lease negotiations. BRP Cos. was self-represented. The opening is set for next spring.

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AcquisitionsMultifamilyNew YorkNortheast

Partnership Acquires Manhattan Apartment Building for $30M

by Taylor Williams

NEW YORK CITY — A partnership between Slate Property Group and Avenue Realty Capital has acquired 81 Franklin, an 11-unit apartment building in Manhattan’s Tribeca neighborhood, for $30 million. The six-story, 32,70-square-foot building, which was originally constructed as an office building and converted to residential use in 2013, houses loft-style residences that come in one-, two-, three- and four-bedroom layouts. Guthrie Garvin of JLL represented the undisclosed seller in the transaction. The partnership was represented in-house. White Oak Real Estate Capital provided acquisition financing for the deal.

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630-Flushing-Ave.-Brooklyn
IndustrialLoansNew YorkNortheast

Värde Partners Provides $125M Loan for Refinancing of Brooklyn Industrial Building

by Taylor Williams

NEW YORK CITY — Värde Partners, a Minneapolis-based lender, has provided a $125 million loan for the refinancing of an industrial building in Brooklyn. According to LoopNet Inc. the building at 630 Flushing Ave., which sits on a 7.8-acre, three-parcel site, totals roughly 575,000 square feet. The building was originally constructed in 1849 as the headquarters of Pfizer and was 88 percent leased at the time of the loan closing. Jason Gaccione and Jake Salkovitz of CBRE arranged the three-year, floating-rate loan on behalf of the owner, an affiliate of Acumen Capital Partners LLC.

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