EAST FARMINGDALE, N.Y. — New Jersey-based financial intermediary G.S. Wilcox has arranged a $10.6 million loan for the refinancing of a 34,877-square-foot retail property located in the Long Island community of East Farmingdale. The property consists of four buildings on a 6.9-acre site. David Fryer of G.S. Wilcox arranged the loan, which carried a 15-year term and a 30-year amortization schedule. The borrower and direct lender were not disclosed.
NEW YORK CITY — New Jersey-based financial intermediary Cronheim Mortgage has arranged a $43.6 million loan for the refinancing of a 220-room Hampton Inn hotel located near LaGuardia Airport in Queens. The hotel originally opened in September 2009 and offers a business center, fitness center and meeting rooms. David Turley led the Cronheim team that originated the loan through an undisclosed national debt fund. The borrower, Synergy Hospitality Management, will use a portion of the proceeds to fund capital improvements.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $29.5 million sale of a multifamily development site in the Gowanus area of Brooklyn. The site at 125 Third St. can support 101,852 buildable square feet, and the buyer plans to construct a 14-story, 130-unit building with ground-floor commercial space. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel Property Advisors represented the undisclosed seller in the transaction. Daniel O’Brien and Caroline Hodes of Cushman & Wakefield represented the buyer.
NEW YORK CITY — LaCoste USA has signed an 18,364-square-foot office lease at 136 Madison Avenue in Midtown Manhattan. The French apparel and accessories retailer will occupy the entire penthouse floor of the 17-story, 300,000-square-foot building. Eric Deutsch, Jared Freede and Anthony Manginelli of CBRE, in conjunction with internal agent Freddie Majid, represented Lacoste USA in the lease negotiations. Mac Roos, Andrew Roos, Michael Cohen and Jessica Verdi of Colliers represented the landlord, Williams Equities. The move-in is scheduled for the second quarter of next year.
NEW YORK CITY — Newmark has secured a 31,916-square-foot office lease expansion and renewal at 1350 Avenue of the Americas, a 35-story, 601,330-square-foot building in Manhattan’s Plaza District. The footprint of the tenant, reinsurance brokerage firm Howden Tiger, now includes its currently occupied 13,287 square feet on the entire 33rd floor and the addition of 18,629 square feet on the entire 34th and penthouse floors. Leo Paytas of Newmark represented Howden Tiger in the lease negotiations. Howard Tenenbaum and Gary Rosen internally represented the landlord, SL Green.
SLEEPY HOLLOW, N.Y. — A partnership between Biddle Real Estate Ventures and PCD Development has provided updates on Edge-on-Hudson, a 70-acre mixed-use project in Sleepy Hollow, about 30 miles north of New York City. The latest and second phase of the waterfront development will include a 100-unit condo building that will be known as The Daymark, a 90-unit townhome complex by Sun Homes and a new 30,000-square-foot retail space that is preleased to DeCicco & Sons Market. The development team is also working on plans for a medical office building as well as additional parkland and open green space. The first phase of Edge-on-Hudson delivered a mix of condos, townhomes and apartments, the overwhelming majority of which have now been sold or leased.
VICTOR, N.Y. — Multifamily developer Morgan Properties has relocated its upstate New York office to a 17,000-square-foot space within High Point Office Park in Victor, located about 15 miles south of Rochester. The space can accommodate about 80 employees and features a break room/kitchen, private offices and workstations, conference and training rooms, meeting lounge and wellness room. Morgan Properties also has an office in South Florida in addition to its headquarters in metro Philadelphia.
NEW YORK CITY — Genius Sports, which provides data management and video streaming services to sports leagues, bookmakers and media companies, has signed an 11,870-square-foot office lease at 825 Third Avenue in Manhattan. The space spans the entire 26th floor. The 530,000-square-foot building recently underwent a $150 million capital improvement program. Joshua Berg and A.J. Dorn of Newmark represented Genius Sports in the lease negotiations. Tom Bow, Ashlea Aaron, Lauren Ferrentino and Bailey Caliban represented the landlord, The Durst Organization, on an internal basis.
NEW YORK CITY — New York-based Bayport Funding has provided a $4 million loan for the acquisition and construction of a 12-unit apartment project in the Ozone Park area of Queens. The 10,000-square-foot project will include 1,400 square feet of retail space, as well as onsite parking and a side yard. The name of the borrower and a tentative construction timeline were not disclosed.
NEW YORK CITY — The Corporation for Supportive Housing has signed a 10,570-square-foot, 11-year office lease at 55 Broadway, a 363,378-square-foot building in Manhattan. The organization will occupy the entire 10th floor of the 32-story building. Aron Schreier and Jason Kroeger of Cushman & Wakefield represented the tenant in the lease negotiations. Brad Gerla, Jonathan Cope and Hayden Pascal of CBRE represented the landlord, Harbor Group International.