NEW YORK CITY — Apparel retailer Capelli Sales has signed a 39,081-square-foot office lease extension in Midtown Manhattan. The lease term is approximately 12 years, and the space spans the eighth, ninth and 10th floors at One East 33rd Street, a 12-story building that was originally constructed in 1913. Max Koeppel of Koeppel Rosen LLC represented the landlord, the Rosen Family, in the lease negotiations on an internal basis. Michael Joseph of Colliers represented the tenant.
RONKOKOMA, N.Y. — Greystone has provided a $166.2 million Freddie Mac permanent loan for The Core at Station Yards, a mixed-use property in Ronkokoma, located on Long Island. The Core at Station Yards, which is situated within the 2 million-square-foot Station Yards development, comprises 388 apartments and roughly 83,500 square feet of retail and office space. Drew Fletcher, Jesse Kopecky and Bryan Grover of Greystone originated the financing on behalf of the borrower, a partnership between TRITEC Real Estate Co. and The Olayan Group. The loan was structured with a 10-year term and a fixed interest rate.
BELLPORT, N.Y. — JLL has negotiated the sale of The Storage Vault, a 749-unit self-storage facility located at 73 Horseblock Road in the Long Island community of Bellport. Constructed on approximately 5 acres in 2020, The Storage Vault totals 54,750 net rentable square feet of predominantly climate-controlled space. The property also includes 73 RV, boat and trailer storage spaces and 33 drive-up spaces. JLL represented the seller, Storage Vault, in the transaction. The buyer was National Storage Affiliates. The sales price was not disclosed.
NEW YORK CITY — Steptoe LLP has signed a 57,988-square-foot office lease in Midtown Manhattan. The international law firm will occupy three full floors at 1133 Avenue of the Americas, a 45-story, 1.1 million-square-foot building. Timothy Dempsey and Greg Maurer-Hollaender of CBRE represented Steptoe in the lease negotiations. Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.
NEW YORK CITY — A partnership between multifamily investment and development firm The Dermot Co. and Dutch pension funds service PGGM has recapitalized 20 Exchange Place, a 57-story apartment building in Manhattan’s Financial District, via a $30 million equity investment from UBS. The partnership acquired the property, which totals 757 units, last year in an off-market deal. Ownership is now planning a capital improvement program to deliver a more comprehensive suite of amenities, as well as to revitalize the surrounding streetscape. Accord Capital Partners LLC served as the capital advisor to The Dermot Co. on the recapitalization.
HAUPPAUGE, N.Y. — JLL has arranged a $62.5 million loan for the refinancing of Carlow Wind Watch, a 150-unit apartment complex located in the Long Island community of Hauppauge. Completed late last year, Carlow Wind Watch consists of a five- and seven-story building that house one-, two- and three-bedroom units. Amenities include a pool, spa, fitness center, clubroom/lounge and outdoor grilling and dining stations. Aaron Niedermayer and Robert Tonnessen of JLL arranged the loan through affiliates of global private equity firm Apollo. The borrower was Nashville-based owner-operator Southern Land Co.
NEW YORK CITY — A partnership between two local development and investment firms, LargaVista Cos. and Baron Property Group (BPG), has received a $43.5 million bridge loan for the refinancing of The Park Overture, a 92-unit apartment building in Manhattan’s Washington Heights neighborhood. The Park Overture offers one- and two-bedroom units and amenities such as a fitness center and courtyard with grilling stations. MF1 Capital provided the loan to retire the original construction debt on the property, which is now leased up.
NEW YORK CITY — Marcus & Millichap has brokered the $6.7 million sale of a mixed-use property in Manhattan’s Chelsea neighborhood. The site at 223 W. 29th St. offers a redevelopment opportunity and is zoned for 20,815 buildable square feet of residential development. Colton Traynham, Matt Fotis and Michael Weinstein 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 — A joint venture between Broad Street Development and TPG Angelo Gordon has purchased a 56,384-square-foot self-storage facility in Manhattan’s Tribeca neighborhood for $43.5 million with plans to undertake a multifamily conversion. The 10-story building at 139 Franklin St. was originally constructed in 1915 and houses 74 units. Brendan Maddigan, Andrew Scandalios, Ethan Stanton, Hall Oster, Michael Mazzara and Vickram Jambu of JLL represented the seller, the Sofia Family, in the transaction and procured the joint venture as the buyer. A construction timeline for the conversion was not announced.
NEW YORK CITY — Clear Street has signed an 88,000-square-foot office lease expansion at 4 World Trade Center in Lower Manhattan. The fintech company first took space at the 72-story, 2.3 million-square-foot building in 2021 via sublease before signing a direct lease for the entire 45th floor in 2023. This deal, which includes a 10-year extension, will see the company maintain that space and also expand to the entire 46th floor. Josh Berger of Norman Bobrow & Co. represented Clear Street in the lease negotiations. Keith Cody and Gordon Hough represented the landlord, Silverstein Properties, on an internal basis.