NEW YORK CITY — TruArc Partners has signed a 10,000-square-foot office lease extension at 545 Madison Avenue in Midtown Manhattan. The private equity firm will remain on the 10th floor of the 18-story, 140,000-square-foot building for another seven years. Tara Stacom led a Cushman & Wakefield team that represented the landlord, Marx Realty, in the lease negotiations. Evan Margolin and Ben Levy of JLL represented TruArc Partners.
NEW YORK CITY — JLL has arranged a $395 million loan for the refinancing of 70 Pine Street, a 66-story mixed-use building in Manhattan’s Financial District. Built in 1932 and most recently renovated in 2016, 70 Pine Street is home to the 165-room Mint House Hotel and 612 market-rate apartments, as well as retail space that is leased to two fine-dining restaurants, one quick-service restaurant, a coffeeshop and a nail salon. Residential and hotel amenities include a 22,000-square-foot fitness center, two golf simulators, two bowling alleys, a screening room, children’s play area and coworking and lounge spaces. Christopher Peck, Geoff Goldstein and Christopher Pratt of JLL arranged the loan through Goldman Sachs on behalf of the borrower, a partnership between DTH Capital and Rose Associates.
BETHLEHEM, N.Y. — The NRP Group, a Cleveland-based multifamily developer, has broken ground on Selkirk Reserve, a 72-unit workforce housing project that will be located just south of Albany in Bethlehem. The property will consist of nine two-story residential buildings and a clubhouse building on a 15.6-acre site. Units will come in one-, two- and three-bedroom formats and will be reserved for renters earning between 30 and 60 percent of the area median income. NRP Group is developing the project in partnership with New York State Homes & Community Renewal and nonprofit organization Soldier On. Completion is slated for August 2025.
NEW YORK CITY — China Merchants Bank has signed a 43,060-square-foot office lease extension at 535 Madison Ave. in Midtown Manhattan. The bank will continue to occupy the entire 17th, 18th and 23rd floors of the 37-story building for the next 15 years. Michael Goldman, Barry Spagna and Erik Sznip of Cresa represented China Merchants Bank in the lease negotiations. Brian Gell and Laurence Briody of CBRE represented the landlord, Park Tower Group.
HICKSVILLE, N.Y. — JLL has arranged the sale of Broadway Commons, a 730,000-square-foot retail power center in the Long Island community of Hicksville. The center was 97 percent leased at the time of sale to tenants such as Round 1 Bowling & Amusement, Showcase 12 Cinema, H&M, Old Navy, Blink Fitness, Buffalo Wild Wings, On the Border, Hook & Reel, Panera Bread and Blaze Pizza. Jose Cruz, Kevin O’Hearn, J.B. Bruno and David Monahan of JLL represented the undisclosed seller in the transaction and procured the buyer, a partnership between KABR Group, BTF Capital and AJM BRE Ventures.
NEW YORK CITY — Insurance litigation firm Barry McTiernan & Moore LLC has signed an 18,464-square-foot office lease at One Battery Park Plaza in downtown Manhattan. Undwr the terms of the 16-year lease, the firm will relocate from 101 Greenwich St. to the entire top floor of One Battery Park Plaza later this year. Jonathan Schindler and Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Kevin Daly represented the landlord, Rudin, on an internal basis.
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of locally based lender Dwight Capital, has provided a $75.2 million bridge loan for the refinancing of 210 Clarkson, a 165-unit mixed-income complex in Brooklyn’s Lefferts Gardens area. Built in 2023, the property consists of 115 market-rate units and 50 affordable housing units, an 18,700-square-foot grocery store and a 700-square-foot community facility. Units come in studio, one- and two-bedroom floor plans, and amenities include workspaces, a game room, screening room, pet spa, gym and a rooftop terrace. Meir Kessner and David Eisen at Sevenstone Capital arranged the loan on behalf of the borrower, a New York family office.
NEW YORK CITY — Marcus & Millichap has brokered the $13.8 million sale of two historic buildings in Brooklyn’s Williamsburg district. The undisclosed private investor that purchased the assets will redevelop the building at 101-107 S. Sixth St., which was originally constructed in the 19th century, into a 29-unit apartment building with 5,444 square feet of commercial space. The apartment building at 109 S. Sixth St. will undergo interior renovations on its second and third floors. Michael Salvatico, Shaun Riney and Samuel Leppo of Marcus & Millichap brokered the deal. The seller was also not disclosed.
NEW YORK CITY — Creative advertising agency Moon Rabbit has signed a 6,604-square-foot office lease at 594 Broadway in Manhattan’s SoHo neighborhood. The company recently relocated from 447 Broadway to the 12th floor of the 250,000-square-foot building, which was originally constructed in 1898 and is known locally as the Lyons Building. Neith Stone internally represented the landlord, GFP Real Estate, in the lease negotiations. Joshua Berg and Alexander Kesseler of Newmark represented Moon Rabbit.
WHITE PLAINS, N.Y. — CBRE has brokered the sale of 15 Bank Apartments, a 501-unit multifamily community located north of New York City in White Plains. Built in 2003, the transit-oriented community consists of two interconnected high-rise towers that house one- and two-bedroom units. Amenities include a fitness center, resident lounge, indoor pool, outdoor courtyards and a children’s playroom. Jeffrey Dunne, Stuart MacKenzie, Eric Apfel, Travis Langer and Daniel Blumenkrantz of CBRE brokered the deal. The buyer and seller were not disclosed.