Northeast

Moinian Group Breaks Ground on 2 MSF Office Tower Within Manhattan’s Hudson Yards District

by Taylor Williams November 6, 2017

NEW YORK — The Moinian Group has broken ground on 3 Hudson Boulevard, a planned 53-story, 2 million-square-foot office tower located within the 60-acre Hudson Yards district on Manhattan’s far west side. The New York-based developer, which owns, manages and has in development more than 4 million square feet of commercial and residential real estate holdings throughout Manhattan, expects to deliver the Class A building by 2021. The property will occupy an entire block between 11th Avenue and Hudson Boulevard Park from West 34th to West 35th streets. The building offers convenient access to the No. 7 subway extension. The Metropolitan Transit Authority (MTA) recently completed infrastructural work on that site, opening the door for construction to begin. Designed by Dan Kaplan of architecture firm FXFOWLE, the property will feature a multi-tiered lobby anchored by 50,000-square-foot floorplates, as well as 12,600 square feet of retail space with multiple entrances. Individual floors within the building will average about 40,000 square feet each, and feature 10-foot ceiling heights, 5-foot window modules and column-free corners that allow for more open spaces. Floor-to-ceiling glass arrangements will provide for ample natural light throughout the building. The rooftop will offer an entertainment space, outdoor terrace and …

November 6, 2017

Loans Multifamily New York Northeast

Houlihan-Parnes Secures $50M in Financing for Four Multifamily Properties in New York

by Amy Works November 6, 2017

POUGHKEEPSIE, HOPEWELL JUNCTION AND MIDDLETOWN, N.Y. — Houlihan-Parnes Realtors has secured the placement of $50 million in first mortgages for four garden-style apartment properties located in New York. Totaling 657 residences, the properties are located at 510 Maloney Road in Poughkeepsie, 228 Route 376 in Hopewell Junction and 644 Silverlake-Scotchtown Road and 100-700 Stratford Lane in Middletown. The loans feature a 4.04 percent fixed rate with interest-only payments for a 10-year term. Robert Tiburzi Jr. and James Coleman of Houlihan-Parnes arranged the financing. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower in financing.

November 6, 2017

Multifamily New York Northeast

Cushman & Wakefield Arranges $30M Sale of Four-Building Multifamily Portfolio in Manhattan

by Amy Works November 6, 2017

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a four-building multifamily portfolio located at 212-218 East 85th St. on Manhattan’s Upper East Side. An investment group led by the Glick Family acquired the portfolio for $30 million. Totaling 37,500 square feet, the four contiguous buildings comprise 70 residential units, four office spaces and two retail units. The apartment units are in a mix of studio, one- and two-bedroom layouts. Paul Smadbeck, Thomas Gammino Jr., Hunter Moss and Bryan Smadbeck of Cushman & Wakefield represented the undisclosed seller in the transaction.

November 6, 2017

New Jersey Northeast Office

NAI Hanson Negotiates Sale of 10,876 SF Office Space in Clifton, New Jersey

by Amy Works November 6, 2017

CLIFTON, N.J. — NAI James E. Hanson has arranged the sale of a 10,876-square-foot office space located at 1030 Clifton Ave. in Clifton. Realty Investment Associates sold the property for an undisclosed price. The space is located within a two-story, 21,734-square-foot office building. The undisclosed buyer acquired the entire second floor on a condominium basis and plans to renovate, upgrade and occupy the space as a medical office. Josh Levering and Nicholas DePaolera of NAI Hanson represented the seller in the transaction.

November 6, 2017

New York Northeast Retail

Rosewood Realty Facilitates $7.5M Sale of Retail Building in Queens

by Amy Works November 6, 2017

NEW YORK CITY — Rosewood Realty Group has arranged the sale of a retail building located at 34-39 31st St. in the South Astoria section of Queens. JAVSE Realty Corp. sold the building to a private investor for $7.5 million. Built in 1956, the property features 16,000 square feet of retail space. Jack Zalta of Rosewood Realty represented the seller, while Jacob Setton, also of Rosewood Realty, represented the buyer in the deal.

November 6, 2017

Multifamily New York Northeast

Ceruzzi Holdings, SMI USA Top Out 63-Story Condominium Project in Manhattan

by Amy Works November 3, 2017

NEW YORK CITY — Ceruzzi Holdings and SMI USA have topped out on construction for 138 East 50th Street, a luxury condominium project in Manhattan. The 63-story, 280,000-square-foot tower will feature 124 condominium units and 7,500 square feet of commercial space on the first floor. Once completed in early 2019, the property will feature a variety of amenities, including a 7,500-square-foot restaurant, an upscale fitness center and spa, a private club space, an indoor pool, a below-grade parking garage and outdoor terraces. Project partners include AECOM Tishman Construction, Pelli Clarke Pelli, SLCE and Champalimaud. Madison Realty Capital provided the construction loan for the project.

November 3, 2017

New Jersey Northeast Office

Vision Real Estate Acquires 64-Acre Development Site in Morris Township, New Jersey

by Amy Works November 3, 2017

MORRIS TOWNSHIP, N.J. — Vision Real Estate Partners, along with a partner firm, has purchased 64 acres of the former Honeywell headquarters campus on Columbia Road in Morris Township for an undisclosed price. The site is approved for office, research and laboratory development, and Vision plans to develop up to 715,000 square feet of premier, build-to-suit corporate headquarters space at the site. Vision Real Estate Partners will oversee the development of the project on Columbia Road.

November 3, 2017

Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $24.9M HUD Loan for Skilled Nursing Facility in Yonkers, New York

by Amy Works November 3, 2017

YONKERS, N.Y. — Greystone has provided a $24.9 million HUD-insured permanent loan to refinance Adira at Riverside Rehabilitation & Nursing, a skilled nursing facility in Yonkers. Fred Levine and Shia Fishman of Greystone arranged the financing for the borrower, L&A RE Acquisitions. The loan features a 30-year term and a fixed rate. Adira at Riverside offers a certified respiratory and vent unit; short-term rehab; occupational, physical and speech therapy; wound care; neuro-rehabilitation; certified cardiopulmonary rehabilitation; long-term skilled nursing care; dedicated Alzheimer’s and dementia care units; and stroke and TBI rehab. On-site amenities include a modern fitness facility, concierge and a variety of recreational activities for residents.

November 3, 2017

Loans Multifamily New York Northeast

Stellar Management, Argent Venture Receive $25M to Refinance Residential Building in Manhattan

by Amy Works November 3, 2017

NEW YORK CITY — Stellar Management, along with its partner Argent Ventures, has received a $25 million loan package to refinance The Willard, located at 252 W. 76th St. in Manhattan. New York Community Bank provided the loan, which was arranged by Meridian Capital Group. Purchased in 2013, The Willard features 53 apartment units and amenities, including a renovated lobby, gym, fitness center, children’s playroom and private storage facility. Paula Katz of Gluck & Katz represented Stellar Management, while Farber, Rosen & Kaufman P.C. represented New York Community Bank in the financing.

November 3, 2017

Multifamily New York Northeast

GFI Realty Arranges $5.6M Sale of Development Site in Brooklyn

by Amy Works November 3, 2017

NEW YORK CITY — GFI Realty has brokered the sale of a development site located at 203 Sutter Ave. in Brooklyn’s Brownsville section. A local investor acquired the site for $5.6 million. The parcel has a total of 57,648 buildable square feet, with approved plans for a 42-unit residential building. Yisroel Pershin and Eli Shilian of GFI Realty represented the seller, a local investor, while Sylvia Spielman, also of GFI, represented the buyer in the deal.

November 3, 2017

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