NEW YORK CITY — Interactive Brokers Group has signed a 22,916-square-foot office lease expansion at 1133 Avenue of the Americas in Midtown Manhattan. The provider of automated brokerage services for securities trading is taking an additional 5,976 square feet on the 36th floor of the 45-story, 1.1 million-square-foot building. Tim Dempsey, Roger Griswold and Chris Hogan of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.
NEW YORK CITY — Newmark has arranged an 11,232-square-foot office lease at 461 Fifth Avenue in Midtown Manhattan. Designed by Skidmore, Owings & Merrill and completed in 1988, the building rises 28 stories and totals roughly 200,000 square feet. The lease term is 10 years, and the space spans the entire sixth floor. Brian Waterman, Scott Klau, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green, in the lease negotiations. Ron LoRusso, Harley Dalton and Samantha Perlman of Cushman & Wakefield represented the tenant, investment management firm Lingotto US.
NEW YORK CITY — CL Credit, a division of New York-based investment firm Castle Lanterra Properties, has provided a $24 million loan for the refinancing of an 81-unit affordable housing property located at 53 E. 177th St. in The Bronx. Completed in 2023, the property comprises three studios, 38 one-bedroom units, 30 two-bedroom apartments and one ground-floor retail space. The undisclosed borrower will use a portion of the proceeds to retire senior construction debt and fund remaining lease-up costs.
NEW YORK CITY — Marcus & Millichap has arranged the $8.1 million sale of a 10-unit apartment building in Manhattan’s Chelsea neighborhood. Built in 1905, the five-story building at 321 W. 16th St. houses a mix of one-, two- and three-bedroom units. Joe Koicim, Zan Colin and Logan Markley of Marcus & Millichap represented the seller, locally based investment firm Centennial Properties, in the transaction. The trio also procured the buyer, TARGO Capital Partners.
NEW YORK CITY — L&L Holding Co. has received a $911 million loan for the refinancing of 425 Park Avenue, a 47-story office tower located in the Plaza District of Midtown Manhattan. Sumitomo Mitsui Trust Bank was the lead lender and administrative agent on the five-year, floating-rate loan. The proceeds will be used to pay off a 2021 loan of the same size, which was used to fund final construction and leasing efforts at the tower, which opened in 2022. L&L Holding, along with co-developer Tokyu Land US Corp. and co-managing partner BGO, broke ground on the project in 2016. Foster + Partners designed the asset, which was built to LEED and WELL Core Gold sustainability standards, thanks to energy-efficient mechanical and ventilation systems. 425 Park Avenue totals 670,000 square feet and is currently 90 percent leased, primarily to finance and investment firms. The building’s anchor tenant is Citadel, a multinational hedge fund and financial services company. The company occupies 440,000 square feet across 22 floors. A space near the top of the tower is reserved for an amenity center dubbed The Diagrid Club. The center features outdoor spaces, an art installation by contemporary artist Yayoi Kusama and private rooms for …
NEW YORK CITY — Locally based investment firm Williams Equities has received a $155 million CMBS loan for the refinancing of 28-40 West 23rd Street, a 578,105-square-foot mixed-use property in Manhattan. The two-building complex, which originally housed the Ladies Mile department store, is located between Fifth and Sixth avenues in the Flatiron District. Home Depot serves as the property’s longtime retail anchor tenant and recently signed a renewal. Office tenants include digital credit card company Ramp and Estee Lauder brand Aramis. Citi Real Estate Funding provided the five-year loan, and Williams Equities will use a portion of the proceeds to fund capital improvements.
NEW YORK CITY — Harbor Group International has completed the $128 million renovation of an office building located at 51 W. 52nd Ave. in Midtown Manhattan. The building now features updated lobbies and tenant amenities, including a fitness center, lounges and conference facilities, as well as new elevators and furniture. Vocon and MdeAS Architects served as the project architects. Harbor Group acquired the 38-story, 900,000-square-foot building, which houses the headquarters of CBS, in late 2021. The owner also has its 25,000-square-foot headquarters office on the 19th floor of the building.
NEW YORK CITY — Marcus & Millichap has brokered the $13.2 million sale of a 76-unit apartment building in the Astoria neighborhood of Queens. The six-story building at 34-50 28th St. was originally constructed in 1930, according to StreetEasy.com. Units come in studio, one- and two-bedroom floor plans. Louis Zarif, Shaun Riney and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $150 million construction loan for a 450-unit multifamily project that will be located at 120 E. 144th St. in the Mott Haven area of The Bronx. The 13-story building will offer studio, one- and two-bedroom units and amenities such as an outdoor courtyard and garden, a fitness center with yoga studio, business lounge, conference room, music room, coworking space and a rooftop lounge. Leah Paskus of Landstone Capital Group arranged the debt on behalf of the borrower, Beitel Group, which purchased the site in 2022 and demolished the original structure. Construction is slated for a mid-2025 completion.
POUGHKEEPSIE, N.Y. — A developer doing business as Built Parcel Six LLC is nearing completion of 44 Springside, a 28-unit multifamily project in Poughkeepsie, about 80 miles north of Manhattan. Designed by Tinkelman Architecture, the five-story building is located within the Arlington area and will house amenities such as an indoor pool, community room, fitness center, rooftop terrace and flexible space for social events or work functions. The development will also feature 7,000 square feet of commercial space. Delivery is slated for this summer. Rents start at $2,500 per month.