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Burlington-Mount-Holly-Road-Westampton-New-Jersey
DevelopmentIndustrialNew JerseyNortheast

Mapletree Begins Construction of 250,000 SF Industrial Facility in Westampton, New Jersey

by Taylor Williams

WESTAMPTON, N.J. — Mapletree, a development and investment firm based in Singapore, has broken ground on a 250,000-square-foot industrial facility in Westampton, located in Southern New Jersey’s Burlington County. The site spans 22.5 acres and offers immediate proximity to the New Jersey Turnpike. Building features will include a clear height of 36 feet, 44 dock doors, two drive-in doors and parking for 150 cars and 62 trailers. Blue Rock Construction is serving as the general contractor for the project. JLL is the leasing agent. Completion is slated for mid-2026.

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AcquisitionsDevelopmentMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $20M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $20 million sale of a multifamily development site in the Prospect Lefferts Gardens neighborhood of Brooklyn. The site at 224-240 Clarkson Ave. is located within an Opportunity Zone and can support up to 150,000 buildable square feet of new development. Sean Kelly, Shimon Shkury and Lawrence Sarn of Ariel Property Advisors represented the seller, private investor Albert Rabizadeh, in the transaction. The buyer was not disclosed.

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Affordable HousingDevelopmentMultifamilyNew JerseyNortheastSeniors Housing

Partnership Breaks Ground on 66-Unit Affordable Seniors Housing Project in New Brunswick, New Jersey

by Taylor Williams

NEW BRUNSWICK, N.J. — A partnership between Pennrose and The New Brunswick Housing & Redevelopment Authority has broken ground on Hildebrand Commons, 66-unit affordable seniors housing project that will be located in Central New Jersey. The six-story building will offer one- and two-bedroom apartments that will be reserved for households earning 20 to 60 percent of the area median income. Five apartments will be set aside for formerly homeless individuals. Amenities will include a community room, fitness center and an outdoor courtyard. The first move-ins are expected to begin in fall 2026.

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Leasing ActivityNew YorkNortheastOffice

Capelli Sales Signs 39,081 SF Office Lease Extension in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Apparel retailer Capelli Sales has signed a 39,081-square-foot office lease extension in Midtown Manhattan. The lease term is approximately 12 years, and the space spans the eighth, ninth and 10th floors at One East 33rd Street, a 12-story building that was originally constructed in 1913. Max Koeppel of Koeppel Rosen LLC represented the landlord, the Rosen Family, in the lease negotiations on an internal basis. Michael Joseph of Colliers represented the tenant.

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Leasing ActivityNew YorkNortheastOffice

Capelli Sales Signs 39,081 SF Office Lease Extension in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Apparel retailer Capelli Sales has signed a 39,081-square-foot office lease extension in Midtown Manhattan. The lease term is approximately 12 years, and the space spans the eighth, ninth and 10th floors at One East 33rd Street, a 12-story building that was originally constructed in 1913. Max Koeppel of Koeppel Rosen LLC represented the landlord, the Rosen Family, in the lease negotiations on an internal basis. Michael Joseph of Colliers represented the tenant.

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The-Core-at-Station-Yards-Ronkokoma-New-York
LoansMixed-UseNew YorkNortheast

Greystone Provides $166.2M Agency Permanent Loan for Mixed-Use Property on Long Island

by Taylor Williams

RONKOKOMA, N.Y. — Greystone has provided a $166.2 million Freddie Mac permanent loan for The Core at Station Yards, a mixed-use property in Ronkokoma, located on Long Island. The Core at Station Yards, which is situated within the 2 million-square-foot Station Yards development, comprises 388 apartments and roughly 83,500 square feet of retail and office space. Drew Fletcher, Jesse Kopecky and Bryan Grover of Greystone originated the financing on behalf of the borrower, a partnership between TRITEC Real Estate Co. and The Olayan Group. The loan was structured with a 10-year term and a fixed interest rate.

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The-Storage-Vault-Bellport-New-York
AcquisitionsIndustrialNew YorkNortheastSelf-Storage

JLL Negotiates Sale of 749-Unit Self-Storage Facility in Bellport, New York

by Taylor Williams

BELLPORT, N.Y. — JLL has negotiated the sale of The Storage Vault, a 749-unit self-storage facility located at 73 Horseblock Road in the Long Island community of Bellport. Constructed on approximately 5 acres in 2020, The Storage Vault totals 54,750 net rentable square feet of predominantly climate-controlled space. The property also includes 73 RV, boat and trailer storage spaces and 33 drive-up spaces. JLL represented the seller, Storage Vault, in the transaction. The buyer was National Storage Affiliates. The sales price was not disclosed.

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Brandeis-Residence-Hall
DevelopmentMassachusettsMultifamilyNortheastStudent Housing

Brandeis University Underway on 631-Bed Residence Hall Project in Waltham, Massachusetts

by Taylor Williams

WALTHAM, MASS. — Brandeis University is underway on construction of a five-story, 631-bed residence hall project on the university’s campus in Waltham, located west of Boston. The development team for the project includes William Rawn Associates and Dimeo Construction. MassDevelopment issued a $134.6 million tax-exempt bond for the development, alongside other miscellaneous projects on the university’s campus. The bond was sold through a public offering underwritten by Barclays Capital Inc. Completion is slated for spring 2027.

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Affordable HousingDelawareDevelopmentLoansMultifamilyNortheast

CPC, Pennrose Receive $6.8M in Agency Financing for Delaware Affordable Housing Project

by Taylor Williams

WILMINGTON, DEL. — An affiliate of Community Preservation Corp. (CPC) and Pennrose has received a $6.8 million Freddie Mac loan for Imani Village Phase IV, an affordable housing project in northeast Wilmington. Phase IV of the eight-phase project, which will eventually add more than 700 units to the local supply, totals 84 units that will be subject to a range of income restrictions. In addition, nine units will be set aside for renters with special needs. Construction is scheduled to begin before the end of the year and to be complete in 2027.

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Leasing ActivityNew YorkNortheastOffice

Law Firm Signs 57,988 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Steptoe LLP has signed a 57,988-square-foot office lease in Midtown Manhattan. The international law firm will occupy three full floors at 1133 Avenue of the Americas, a 45-story, 1.1 million-square-foot building. Timothy Dempsey and Greg Maurer-Hollaender of CBRE represented Steptoe in the lease negotiations. Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.

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