NEW YORK CITY — New York City-based ERG Commercial Real Estate has arranged a $4.6 million loan for the refinancing of 150 West 36th Street, a 13,000-square-foot office building in Midtown Manhattan’s Garment District. The five-story building includes ground-floor retail space. Mary Guarino of ERG Commercial originated the loan, which was structured with a five-year term and multiple extension options, through an undisclosed local bank. The borrower was also not disclosed.
NEW YORK CITY — Labor union SEIU Local 32BJ has signed a 20,778-square-foot office lease at 620 Avenue of the Americas in Midtown Manhattan. The space is located on the ground floor of the building, which was originally constructed in 1896. Mark Weiss of Cushman and Wakefield represented the union, which has more than 175,000 members, in the lease negotiations. Daniel Birney represented the landlord, RXR, on an internal basis.
NEW YORK CITY — National general contractor JT Magen has completed the 180,000-square-foot office build-out for law firm Freshfields Bruckhaus Deringer at 3 World Trade Center in Lower Manhattan. The space spans four levels and features a kitchen and cafeteria with food service, a dedicated barista and grab-and-go coffee station, as well as several breakout and meeting spaces that encourage collaborative interactions. Gensler designed the space, and Robert Derector Associates handled engineering initiatives.
NEW YORK CITY — Weaver & Tidwell LLP has signed a 36,500-square-foot office lease expansion at PENN 1, a newly redeveloped office building in Midtown Manhattan. The accounting firm is expanding from an 8,000-square-foot space on the second floor to the entire 28th floor of the 55-story building. Neil Goldmacher and Michael Horn of Newmark represented the tenant in the lease negotiations. Josh Glick, Jared Silverman and Anthony Cugini represented the landlord, Vornado Realty Trust, on an internal basis.
NEW YORK CITY — Lyceum Kennedy School has renewed its lease in Midtown Manhattan and also expanded its footprint. The international and bilingual academic institution now occupies 21,950 square feet at 815 Second Ave. between its existing space on the second floor and its new expansion onto the entire third floor. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the school in the lease negotiations. Bill Savarese and Jamie DeJong of Parish Property Management represented the landlord.
FIRE ISLAND PINES, N.Y. — Brokerage firm Muroff Hospitality Group has arranged the $15.5 million sale of Fire Island Pines Resort on the southern tip of Long Island. The resort features The Blue Whale marina and restaurant, a hotel, pool, fitness center and pavilion. The sale, which also included a three-bedroom house and 16-bedroom house for employees, represents approximately 75 percent of the commercial property on Fire Island Pines. Mitch Muroff of Muroff Hospitality Group represented the buyer and seller in the transaction.
NEW YORK CITY — New York City-based developer TF Cornerstone has begun leasing Malt Drive, a 1,386-unit apartment complex in the Long Island City neighborhood of Queens. The site is located within the 30-acre Hunter’s Point South mixed-use development along a new city street that was named as a nod to the site’s history as a sugar cane processing facility that later became a beer distribution center. The two-building development houses studio, one- and two-bedroom units and includes 25,000 square feet of retail space and a 3.5-acre public park. The South building at 2-20 Malt Drive rises 33 stories and features 575 units. The adjacent North building comprises 811 apartments across two towers at 2-21 Malt Drive. Thirty percent of units at both buildings will be set aside as affordable housing and will be leased at 130 percent of the area median income. Amenities include coworking space, children’s playrooms, lounges, fitness centers, shared laundry rooms, roof decks with barbecue grills, sundecks and courtyards. SLCE Architects designed the project. Rents start at $3,600 per month for a studio apartment.
NEW YORK CITY — Healthcare provider NewYork-Presbyterian has signed a 10,189-square-foot lease in The Bronx. The space is located within the 60,000-square-foot building at 2510 Westchester Ave., which is also home to practitioners in specialty fields such as orthopedics and sports medicine, behavioral health and acupuncture. Both the tenant and the landlord, Simone Development, were self-represented in the lease negotiations.
NEW YORK CITY — A joint venture between development and investment firm Olshan Properties and New York City-based O’Connor Capital Partners has completed Parkchester Gardens, a 221-unit affordable senior living project in The Bronx. Units are reserved for renters earning 50 percent or less of the area median income. Wells Fargo financed the project in conjunction with the New York City Housing Development Corp. and the Department of Housing Preservation & Development. Construction began in spring 2021.
GREENLAWN, N.Y. — New York-based Nouvini Property Investments has purchased a retail property in the Long Island community of Greenlawn for $3 million. According to LoopNet Inc., the property at 233-243 Broadway was built in 2012, totals 20,000 square feet and is home to multiple restaurants. Triple Net Brokers represented both Nouvini and the undisclosed seller in this transaction.