Northeast

DrinkPAK Signs 1.4 MSF Industrial Lease at Bellwether District in Philadelphia

by Taylor Williams January 12, 2026

PHILADELPHIA — California-based canned beverage manufacturer DrinkPAK has signed a 1.4 million-square-foot industrial lease at The Bellwether District, a 1,300-acre logistics campus in South Philadelphia. The Bellwether District is a redevelopment of the former Philadelphia Energy Solutions refinery campus that can support traditional industrial uses, as well as life sciences and manufacturing uses. Hilco Redevelopment Partners (HRP) is the master developer of The Bellwether District. Jim Belcher, Nick Pickard, Stephen Cook and Mike Spaeder of Newmark represented DrinkPAK in the lease negotiations. According to the Newmark’s analysis of CoStar Group’s data, the deal represents one of the largest industrial transactions in the history of the Philadelphia market and the largest lease since 2020. “DrinkPAK’s commitment at The Bellwether District represents a defining moment for both the project and the region,” says Pickard. “This type of investment brings significant upside to greater Philadelphia, fueling job creation, supply chain expansion and regional economic growth.” Newmark also recently represented DrinkPAK in its negotiations for a pair of industrial lease expansions totaling 2.9 million square feet in Fort Worth. — Taylor Williams

January 12, 2026

Leasing Activity New York Northeast Office

Starr Signs 275,000 SF Office Headquarters Lease in Midtown Manhattan

by Taylor Williams January 9, 2026

NEW YORK CITY — Starr has signed a 20-year, 275,000-square-foot office headquarters lease in Midtown Manhattan. The global investment and insurance organization will occupy the entirety of floors 16 through 27 at 343 Madison Avenue, a 46-story, 930,000-square-foot building that is currently under construction. John Picco, Peter Van Duyne and Alex Lachmund of Cushman & Wakefield represented Starr in the lease negotiations. Peter Turchin, John Maher, Evan Haskell and Caroline Merck of CBRE represented the landlord, BXP, formerly known as Boston Properties, which expects to complete 343 Madison Avenue in 2029.

January 9, 2026

Affordable Housing Development Loans Multifamily New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $19.1M in Financing for Bronx Affordable Housing Project

by Taylor Williams January 9, 2026

NEW YORK CITY — Walker & Dunlop has arranged $19.1 million in financing for Melrose Concourse, a proposed 72-unit affordable housing project in The Bronx. The financing comprises a $6.3 million permanent loan commitment from Freddie Mac and a $12.8 million equity investment. Melrose Concourse will consist of a four-story building with eight units, a nine-story building with 34 apartments and a 10-story building with 30 residences. All units will be reserved for renters earning between 30 and 70 percent of the area median income, and 23 units will be set aside for seniors. John Gilmore and Ethan Waite of Walker & Dunlop led the debt financing process, and the firm’s Diego Benites and Ricky Figueroa led the equity placement efforts. The developer is a joint venture between Settlement Housing Fund and the Beechwood Organization.

January 9, 2026

Acquisitions Multifamily New Jersey Northeast

Hudson Atlantic Negotiates $10.8M Sale of Age-Restricted Apartment Complex in Netcong, New Jersey

by Taylor Williams January 9, 2026

NETCONG, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $10.8 million sale of Kings View Apartments, a 38-unit apartment complex located in the Northern New Jersey community of Netcong. Units at the property, which was built in 2002, come in one- and two-bedroom floor plans and are reserved for renters age 55 and above. Amenities include a fitness center and a resident lounge. Adam Zweibel and Dante Fusaro of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

January 9, 2026

Industrial Leasing Activity Massachusetts Northeast Office

Dentsply Sirona Renews 84,413 SF Office, Industrial Lease in Waltham, Massachusetts

by Taylor Williams January 9, 2026

WALTHAM, MASS. — Dentsply Sirona has renewed its 84,413-square-foot office and industrial lease in Waltham, a western suburb of Boston. The North Carolina-based provider of dental products will continue to occupy the entirety of the building at 590 Lincoln St., which includes manufacturing space, for an additional six years. CBRE represented the landlord, Hobbs Brook Real Estate, in the lease negotiations. Cushman & Wakefield represented the tenant, which has leased the building since 2017.

January 9, 2026

Development New York Northeast Office Top Stories

Partnership Invests $150M to Redevelop 1540 Broadway Office Tower in Midtown Manhattan

by Abby Cox January 9, 2026

NEW YORK CITY — A partnership between GFP Real Estate and BDT & MSD Partners has invested $150 million to redevelop 1540 Broadway, a 907,000-square-foot office tower in the Times Square area of Midtown Manhattan. The transformation is intended to reframe the original tower, which was completed in 1990 and designed by Skidmore, Owings & Merrill. Renovations are expected to be complete by late 2026. “Our shared vision is to create a workplace that is purposeful, well-crafted and thoughtfully executed, raising expectations for what defines a leading New York City office tower,” says Brian Steinwurtzel, co-CEO and principal of GFP Real Estate. “This is a full reintroduction of the building.” Affiliates of Apollo (NYSE: APO) will provide financing for the project, while GFP Real Estate will oversee operations with BDT & MSD. JLL will serve as the leasing agent for the building. Designed by Fogarty Finger, the renovation will feature extensive interior improvements and the inclusion of more than 45,000 square feet of amenities across two levels of the building. A 27,000-square-foot “amenity hub,” located on the eighth floor, will comprise upgraded wellness facilities, a reimagined fitness center, new locker rooms, a dedicated recovery and movement zone and enhanced communal areas. …

January 9, 2026

Development Loans New York Northeast

Partnership Receives $126M in Financing for Buffalo Affordable Housing Property

by Taylor Williams January 8, 2026

BUFFALO, N.Y. — A partnership between Brookyln-based BFC Partners and local redevelopment organization Buffalo’s Black Billion/St. John Fruit Belt CDC has received $126 million in financing for the revitalization of Towne Garden Apartments. The 360-unit affordable housing property is located in Buffalo’s historic East Side district. The financing includes a $38.7 million subsidy from New York State Homes and Community Renewal (HCR) and a state Low-Income Housing Tax Credit allocation from HCR that will generate $15 million in equity, as well as state and federal historic tax credits. The rehabilitation will bring modern finishes, appliances and systems to residential units, as well as upgrade various utility, security and mechanical systems. The project team also plans to enhance the property’s landscaping and parking and add new amenities, including playgrounds, fitness stations, laundry rooms and a walking track.

January 8, 2026

Loans Multifamily New York Northeast

JLL Arranges $62M Loan for Refinancing of New Jersey, New York Multifamily Portfolio

by Taylor Williams January 8, 2026

MORRISTOWN, N.J. — JLL has arranged a $62 million loan for the refinancing of a portfolio of five multifamily properties totaling 541 units in New Jersey and New York. The New Jersey properties include Spring Gardens Apartments in Summit; Omni Apartments in Bergenfield; Arcadia Court Apartments in Hackensack; and Park Engle Apartments in Englewood. The fifth, unnamed property is located in Montgomery, N.Y. Thomas Didio, Thomas Didio Jr., Gerard Quinn, Michael Mataras and Christian Badalamenti of JLL arranged the loan on behalf of the borrower, Tower Management Service.

January 8, 2026

Connecticut Development Hospitality Loans Multifamily Northeast

Knighthead Funding Provides $48M Loan for Acquisition, Conversion of Stamford Hotel

by Taylor Williams January 8, 2026

STAMFORD, CONN. — Knighthead Funding has provided a $48 million loan for the acquisition and partial conversion of the 508-room Marriott Stamford hotel in southern coastal Connecticut. The sponsor, Clearview Hotel Capital, will use a portion of the proceeds to convert one of the hotel’s two towers, which were built in 1975 and 1985, into a residential complex with studio, one- and two-bedroom units. The other tower will be renovated and relaunched as a modernized hotel. Tyler Dumon, Christopher Kramer, Daniel Fromm, Ricky Braha, Jordan Roeschlaub and Nick Scribani of Newmark arranged the debt.

January 8, 2026

Acquisitions Connecticut Multifamily Northeast

CBRE Negotiates Sale of 100-Unit Apartment Complex in Wilton, Connecticut

by Taylor Williams January 8, 2026

WILTON, CONN. — CBRE has negotiated the sale of White Oaks at Wilton, a 100-unit apartment complex located in southern coastal Connecticut. Built in 2011, the complex offers one-, two- three-and four-bedroom units. According to Apartments.com, amenities include a pool, fitness center, playground and outdoor grilling and dining stations. Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer of CBRE represented the seller, LaSalle Investment Management, in the transaction and procured the buyer, CT Realty Trust.

January 8, 2026

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