NEW YORK CITY — Creative design and branding agency Tag Wall has signed a 26,366-square-foot office sublease at 1745 Broadway in Midtown Manhattan. The space spans the entire eighth floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the sublease negotiations. Matt Astrachan, Ben Bass, Harrison Potter and Kate Roush of JLL represented Tag Wall. Atlanta-based Invesco Real Estate owns 1745 Broadway.
NEW YORK CITY — A partnership between two locally based developers, Fetner Properties and Lions Group, has begun leasing The Italic, a 50-story apartment building located at 26-32 Jackson Ave. in the Long Island City area of Queens. Designed by SLCE Architects and built by Hunter Roberts Construction Group, the building houses 363 units in studio, one-, two- and three-bedroom units, with 109 residences designated as affordable housing. Amenities include a communal lounge, fitness center, golf simulators, a basketball court, coworking spaces and a rooftop terrace. The building also houses 20,000 square feet of commercial space. Rents start at approximately $3,800 per month for a studio. Construction topped out in December 2023.
NEW YORK CITY — Law firm Knobbe Martens has signed a 27,375-square-foot office sublease at 1745 Broadway in Midtown Manhattan. The space spans the entire 21st floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the negotiations. David Berke and Scott Gutnick of Newmark represented Knobbe Martens. Atlanta-based Invesco Real Estate owns 1745 Broadway.
NEW YORK CITY — Local lender and private equity firm Kriss Capital has provided $32 million in financing for an adaptive reuse project in Manhattan’s Tribeca area. The borrower, a partnership between local firms Urban Capital Group and Prosper Property Group, will use the proceeds to acquire and convert a former textile warehouse into a five-unit residential building with ground-floor retail space. The design team includes SOMA and Turett Collaborative. Residences will come in three- and four-bedroom floor plans and have an average size of 3,500 square feet. Andy Iadeluca of New Development Capital arranged the debt. GRA Equities and PZ Realty Investments are also partners on the project, construction of which is underway and slated for a mid-2026 completion.
NEW YORK CITY — Marcus & Millichap has brokered the $5.2 million sale of a 9,640-square-foot retail building in the Rego Park area of Queens. C-Town Supermarkets anchors the building, which features 100 feet of frontage along 63rd Drive and is also home to three other service-oriented retailers. Joseph French Jr. and Kodi Traver of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
NEW YORK CITY — LEEP Dual Language Academy Charter School has signed a 13,241-square-foot lease expansion in Brooklyn. The school’s footprint now spans 37,924 square feet across four floors within the building at 5323 Fifth Ave. in the Sunset Park neighborhood, where it first opened in 2019. Martin Cottingham, Michael Gottlieb and Patrick Steffens of Avison Young represented the school in the lease negotiations. Comjem Associates owns the building.
ROCHESTER, N.Y. — Northmarq has provided a $14 million Fannie Mae loan for the refinancing of Windsor Gardens, a 296-unit apartment community in Rochester. Built in 1972 and renovated in 2002, Windsor Gardens offers studio, one-, two- and three-bedroom units. Amenities include a fitness center, conference room, clubhouse, video library and onsite laundry facilities. Robert Ranieri of Northmarq originated the 10-year loan on behalf of the borrower, an entity doing business as Windsor Associates LP.
THORNWOOD, N.Y. — Immortal Fitness has signed a 14,994-square-foot lease in an industrial flex building in Thornwood, located about 30 miles north of Manhattan. The building at 1 Zeiss Drive totals 120,000 square feet, and the space will feature a range of personal and group training areas, as well as a lounge, locker rooms, sauna and patio. New York Commercial Realty Group represented the tenant and the owner, Simone Development Cos., in the lease negotiations.
NEW YORK CITY — A partnership between Brisa Builders Development LLC and PMG Affordable has received $51.7 million in financing for a 92-unit affordable housing project that will be located in the Far Rockaway area of Queens. The financing package primarily consists of $28.4 million in construction financing from Bank of America; a $12.9 million supportive housing loan from the New York City Department of Housing Preservation & Development; and $8.3 million from the New York State Homes & Community Renewal. The capital stack also includes $23.7 million in Low-Income Housing Tax Credit equity. The nine-story building at 19-19 Cornaga Ave. will offer studio, one- and two-bedroom residences ranging in size from 331 to 652 square feet, with 60 units to be designated as supportive housing units and the other 30 to serve as Federal Housing Trust units. Amenities will include a fitness center, lounge, computer room and a multi-purpose room to accommodate community programs, classes and recreational activities, as well as an outdoor courtyard with a playground. Urban Atelier Group is the general contractor for the project, and Paul Castrucci Architects is handling design. Completion is slated for late 2026.
NEW YORK CITY — NY E-Health Collaborative has signed a 15,000-square-foot office lease in Midtown Manhattan. The nonprofit networking organization for healthcare professionals is taking space at 5 Penn Plaza, which is located within Hudson Yards and was recently repositioned. Mitch Konsker, Christine Colley, Kristen Morgan, Greg Wang, Kate Roush and Dan Turkewitz of JLL represented the landlord in the lease negotiations. Joe Speck and Reid Longley of Colliers represented the tenant.