NEW YORK CITY — Intuit has signed a 77,000-square-foot office lease expansion at 51 Astor Place in Manhattan’s East Village. The financial technology platform currently occupies the entire third floor at the 400,000-square-foot building. The expansion is for three additional full floors of space, as well as ground-floor retail space, for a total footprint of 115,000 square feet. Paul Glickman, Mitchell Konsker, Benjamin Bass and Cynthia Wasserberger of JLL, along with internal agents Jeffrey Sussman and Matt Pynn, represented the landlord, Edward J. Minskoff Equities, in the lease negotiations. Bart Lammersen, Justin Haber and Kyle Riker, also with JLL, represented Intuit.
MONTAUK, N.Y. — JLL has arranged a $235 million loan for the refinancing of the 20-acre Gurney’s Montauk Resort & Seawater Spa, located on the eastern tip of the Long Island peninsula. The property’s hospitality component totals 158 units: 109 guestrooms, 35 suites, eight beachfront cottages and six residences. In addition to a 2,000-foot private beach, the resort features five onsite food-and-beverage venues, four pools, a salon, 25,000 square feet of meeting and event space, a 30,000-square-foot spa and a fitness center. In addition, the owner, a partnership between BLDG Management Co. Inc. and Metrovest Equities, recently completed a capital improvement program at the property that upgraded guestrooms, common areas and amenity spaces. Christopher Peck, Kevin Davis, Mark Fisher and Connor Medzigian of JLL arranged the debt through a joint venture between Smith Hill Capital and Bain Capital.
NEW YORK CITY — Locally based developer Two Trees Management has completed the lease-up of One Domino Square, a 279-unit multifamily property in the borough’s Williamsburg area. Designed by Selldorf Architects, One Domino Square offers both apartments and condos in a variety of floor plans, including penthouses for the latter component. Amenities include a pool, spa, resident lounges, media room, children’s playroom, private dining room, chef’s kitchen and outdoor grilling and dining stations. The property’s rental units are now 99 percent occupied, with rents starting at $4,770 per month for a studio apartment.
ROCHESTER, N.Y. — New York City-based investment firm Time Equities Inc. has purchased The Shoppes at Westgate, a 62,049-square-foot shopping center in Rochester. The sales price was $6.1 million. Built in 1958 and renovated in 1986, the center was 91 percent leased at the time of sale to tenants such as Ross Dress for Less, Bath & Body Works and Citizens Bank. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented Time Equities in the transaction on an internal basis. Ben Snyder and Zack Bates of Matthews Real Estate Investment Services represented the undisclosed seller.
NEW YORK CITY — JLL has negotiated a 15,397-square-foot office lease expansion in Midtown Manhattan. The tenant, commercial lender Webster Bank, also extended its lease and now occupies about 46,000 square feet across three full floors at 360 Lexington Avenue, a 268,000-square-foot building. Jeff Szczapa and Drew Saunders of JLL represented Webster Bank in the lease negotiations. Mitchell Konsker, Ben Bass, Barbara Winter and Thomas Swartz, also with JLL, represented the landlord, AmTrust RE.
NEW YORK CITY — New York City-based ERG Commercial Real Estate has arranged a $7 million construction loan for a 28-unit multifamily project that will be located in the Jamaica area of Queens. The building will be located at 166-13 91st St. and will rise 16 stories. Information on specific floor plans and amenities, as well as the direct lender and borrower, was not disclosed.
NEW YORK CITY — Coalition Space has opened a 15,736-square-foot flexible workspace at 485 Madison Avenue in Midtown Manhattan. The lease term is 10 years, and the space is known as Coalition Space Grand Central. Bert Rosenblatt and Alex Gerome of Cresa represented Coalition Space in the lease negotiations. Adam Rappaport and Brett Greenberg internally represented the landlord, Jack Resnick & Sons.
NEW YORK CITY — Posh Group Inc. has signed a 11,436-square-foot office lease expansion in Manhattan’s SoHo district. The event manager and brand promoter has effectively doubled its footprint to 22,637 square feet across two full floors at 40 Crosby, a five-story building. KPG Funds owns 40 Crosby, which offers 34,229 square feet of office space and 18,000 square feet of retail space on the ground floor.
CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz, has completed Phase I of the renovation of Medical Offices at Chappaqua Crossing, a 490,000-square-foot office and healthcare complex located about 30 miles north of Manhattan. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development that formerly housed the headquarters of Reader’s Digest and is known as Chappaqua Crossing. The renovation upgraded the property’s common areas with new LED lighting, ceilings, flooring, lobby furniture, paint/wallpaper and moss wall coverings. In addition, a $6 million upgrade of HVAC systems is currently underway. The partnership acquired the property in April 2023 for $40 million.
NEW YORK CITY — TS Communities, a division of local real estate giant Tishman Speyer, has received $166 million in financing for a 244-unit affordable housing complex in Queens and plans to break ground later this month. The 18-story building will be located within the Edgemere Commons development in the borough’s Far Rockaway neighborhood and follows TS Communities’ development of a 237-unit building that is nearing completion. Units will come in studio, one-, two- and three-bedroom floor plans and will be reserved for renters earning between 40 and 80 percent of the area median income. In addition, 73 units will be set aside as supportive housing. The building will also feature a resident community room, an outdoor space with an adjoining recreation room, a skydeck, onsite parking and laundry facilities, supportive services offices and street-level retail space. Aufgang Architects is designing the project, which is being developed in partnership with the City of New York, as well as with various state housing agencies. A tentative completion date was not announced.