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.
NEW YORK CITY — JLL has arranged a $70.6 million Fannie Mae loan for the refinancing of a 108-unit apartment building located at 200 E. 23rd St. in Manhattan’s Gramercy Park neighborhood. Known as Gemma Gramercy, the newly constructed building rises 20 stories and was 80 percent occupied at the time of the loan closing. Residences come in studio, one- and two-bedroom floor plans. Amenities include a fitness center, rooftop terrace, coworking space, lounge and entertainment room, media room and package handling services. Evan Pariser, Michael Shmuely, Michael Zaremski and John Flynn of JLL originated the 10-year, fixed-rate loan on behalf of the borrower and developer, SMA Equities.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $26 million sale of a 237-unit multifamily property in The Bronx. The 17-story building sits on a five-acre site at 1500 Noble Ave., in between the West Farms and Parkchester neighborhoods. The unit mix consists of 50 one-bedrooms, 136 two-bedrooms and 51 three-bedrooms. Victor Sozio, Shimon Shkury, Jason Gold, Daniel Mahfar and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $4.9 million sale of a 10,900-square-foot retail and medical office building in Brooklyn’s Sheepshead Bay neighborhood. The building at 1670 E. 17th St. has 12 suites and is zoned for up to 4,700 square feet of expansion. Jakub Nowak 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 — Marcus & Millichap has brokered the $7.5 million sale of an assemblage of three industrial-zoned lots in Brooklyn’s Greenpoint area. The assemblage consists of three lots along Huron Street, and the largest of the three parcels houses a 15,000-square-foot building. Thomas Brennan and Jakub Nowak of Marcus & Millichap represented the seller in the transaction. Vincent Pan and Tina Lin of Ritz Realty represented the buyer, which also plans to occupy the site. Both parties requested anonymity.
NEW YORK CITY — Investment banking advisory firm Evercore has signed a 95,000-square-foot office lease expansion at Park Avenue Plaza, a 45-story, 1.2 million-square-foot building in Midtown Manhattan. Evercore’s additional space is located across floors 39 through 41, and the company now occupies about 500,000 square feet total at Park Avenue Plaza. Alan Desino of Colliers represented Evercore in the lease negotiations. Marc Packman, Charles Laginestra, Clark Briffel and Josh Fisher represented the landlord, Fisher Brothers, on an internal basis.
YONKERS, N.Y. — Developers have released plans to build two new multifamily projects in Yonkers, about 20 miles north of New York City. The developments represent a total of $186.6 million in private investment and are expected to create 503 construction jobs. The Yonkers Industrial Development Agency recently granted final approval of financial incentives for both projects. Miroza Tower, which a subsidiary of Azorim Construction Co. Ltd. is developing, will rise 27 stories at 44 Hudson St. The $133.5 million project will comprise 250 apartment units, 25 of which will be designated as affordable housing. Amenities will include a party room, library, conference room, gym, two resident lounges, a rooftop garden and children’s playroom. The tower will also include 1,920 square feet of first-floor retail space and a 252-space parking garage. Azorim is receiving a sales tax exemption of $5.8 million, a mortgage recording tax exemption of $1.3 million and a 20-year payment in lieu of taxes (PILOT) agreement valued at $12.4 million. The project is expected to create 324 construction jobs. The Center for Urban Rehabilitation and Empowerment Inc. (CURE), a local nonprofit, and Conifer Realty LLC in partnership with the City of Yonkers are developing the second project, …
NEW YORK CITY — Locally based developer The Moinian Group has begun vertical construction of 7 Platt Street, a 35-story apartment tower in Manhattan’s Financial District. The 170,000-square-foot building will house 250 units in studio, one- and two-bedroom configurations, as well as some penthouses. Amenities will include a fitness center, library, coworking pods, lounge spaces, private dining spaces with outdoor terrace access, a gaming area, rooftop deck, golf putting area and a communal entertainment kitchen. The design team includes Rockwell Group and Hill West Architects. Completion is scheduled for late 2025.
NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $15.4 million loan for the refinancing of the Hampton Inn Manhattan/Downtown-Financial District. The pet-friendly, recently renovated hotel has 81 rooms and offers amenities such as a fitness center, business center and complimentary breakfast. David Turley led the Cronheim team that arranged the loan through an undisclosed national bank on behalf of the borrower, Virginia-based Shamin Hotels.
NEW YORK CITY — Berkadia has secured the title of top agency lender for 2023. The firm closed roughly $6.6 billion in Freddie Mac loans and $5.3 billion in Fannie Mae loans, good for the first and second place, respectively, among qualified government-sponsored enterprise (GSE) lenders. Berkadia was also the top HUD lender in terms of volume, closing $1.2 billion in HUD-insured loans in 2023.
