PORT WASHINGTON, N.Y. — New York-based investment firm BEB Capital has completed the $4 million renovation of 26 Harbor Drive, a 71,164-square-foot industrial flex facility in Port Washington. TPG Architecture designed the project, which included an upgrade of infrastructural systems, a revamp of the office space, the addition of new amenities and the commissioning of a mural. BEB Capital first acquired the property, which also houses the company headquarters, in June 1994.
NEW YORK CITY — Vibrant Emotional Health has opened its 59,550-square-foot office at 80 Pine Street, a 38-story, 1.2 million-square-foot building in Manhattan’s Financial District. The nonprofit provider of mental health services relocated from a 31,000-square-foot space at 50 Broadway to the entire 18th and 19th floors after inking a deal last spring. Rudin owns 80 Pine Street, which was originally constructed in 1960 and recently underwent a capital improvement program.
NEW YORK CITY — New Jersey-based financial intermediary Cronheim Mortgage has arranged a loan of an undisclosed amount for the refinancing of the Sheraton Brooklyn New York Hotel. The 321-room hotel is located at 228 Duffield St. in the downtown area and offers a fitness center, lounge and an onsite restaurant and bar. Beau Williams of Cronheim Mortgage arranged the fixed-rate, nonrecourse loan through Deutsche Bank on behalf of the borrower, locally based investment firm Lam Group.
ISLIP, N.Y. — A partnership between Chicago-based Venture One Real Estate and New York City-based Affinius Capital has delivered a 121,270 square-foot speculative industrial project in the Long Island community of Islip. The site at 2950 Veterans Memorial Highway spans 9.7 acres, and the building features a clear height of 36 feet, 130-foot truck court depths and parking for 122 cars and 119 trailers. Cushman & Wakefield is marketing the property for lease.
MANHASSET, N.Y. — General contractor Skanska USA has completed the Petrocelli Surgical Pavilion, a $560 million healthcare project in the Long Island community of Manhasset for Northwell Health, the state’s largest provider. Skanska USA broke ground on the 288,000-square-foot project, which is located on the 756-bed North Shore University Hospital campus, in spring 2020. The facility houses 18 operating rooms, including three hybrid rooms with advanced imaging, along with 132 intensive care rooms. The Petrocelli Pavilion will also serve as the home of the Sandra Atlas Bass Heart Hospital.
NEW YORK CITY — Cushman & Wakefield has brokered the $27 million sale of a 17,185-square-foot office building located at 25 E. 22nd St. in Manhattan’s Flatiron District. Audrey Cappell, whose three nonprofit organizations previously occupied the six-story building, sold the asset to Japanese publishing and comic book company Kodansha USA. The nonprofits are relocating to a nearby property to accommodate their growth. The building also housed Nike’s New York City office in the 1990s. Craig Waggner, John Ciraulo, Jack Stephen, Carri Lyon and Mark Mandell of Cushman & Wakefield brokered the deal.
HAUPPAGE, N.Y. — A partnership between Chicago-based Venture One Real Estate and New York City-based Affinius Capital has delivered a 123,970-square-foot speculative industrial project in the Long Island community of Hauppage. The site at 49 Wireless Blvd. is located within Hauppage Innovation Park, and the building features a clear height of 36 feet, 130-foot truck court depths and parking for 131 cars and 40 trailers. Cushman & Wakefield is marketing the property for lease.
BUFFALO — San Francisco-based mortgage banking firm Gantry has arranged a $38.1 million construction loan for The Lawrence, a 132-unit multifamily project that will be located adjacent to the Niagara Medical Campus in Buffalo. Units will come in studio, one- and two-bedroom floor plans, and the project will include the construction of a 78-space parking garage. Daniel Monte of Gantry arranged the five-year, fixed-rate loan through an undisclosed regional bank. The borrower and developer, a private joint venture, also requested anonymity.
NEW YORK CITY — LaGuardia Community College has signed a 10-year, 210,334-square-foot office lease extension in the Long Island City area of Queens. The educational institution will continue to occupy four of the eight floors at Queen’s Atrium, a 425,300-square-foot building located at 30-20 Thomson Ave. that was originally built in 1914,. Ira Schuman of Savills represented LaGuardia Community College in the lease negotiations. Randall Briskin represented the landlord, The Feil Organization, on an internal basis.
NEW YORK CITY — Bridge Industrial has acquired a 128,148-square-foot property located at 58-95 Maurice Ave. in the Maspeth area of Queens. The newly renovated building was originally constructed on 2.8 acres in 1998 and features a clear height of 20 feet, 10 drive-in doors and three loading docks. Tyler Peck of JLL represented the seller, Turnbridge Equities, in the transaction. Bridge Industrial was self-represented. The property was fully leased to three tenants at the time of sale.