Tuesday, June 30, 2026
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Northeast

Mixed-UseNortheast

PARTNERSHIP GETS $218M FOR REDEVELOPMENT PROJECT

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FORT LEE, N.J. — A partnership led by Tucker Development Corp. has secured $218 million in financing for the first phase of Hudson Lights, a 1 million-square-foot, mixed-use redevelopment in Fort Lee. Savills US arranged the debt and equity financing, including a $117 million construction loan from Sovereign Santander Bank. Tucker will soon begin construction on the first 517,000-square-foot phase, including 143,000 square feet of retail, 864 parking stalls and 276 luxury apartments. Tucker Development is building Hudson Lights with its development partner, KRE Group, and Ares Management. Tishman Construction Corp. is serving as the development’s general contractor. KRE Group will also assist with property management for the development’s residential portion upon completion. Robert K. Futterman & Associates is serving as the development’s exclusive retail leasing agent. Hudson Lights, designed by architecture and planning firm Arquitectonica, is the western portion of a 16-acre site in Fort Lee undergoing comprehensive redevelopment. The second phase of Hudson Lights will include an additional 201 residential units, about 50,000 square feet of retail space and parking and a 175-room hotel.

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MultifamilyNortheast

MRC ORIGINATES $5M LOAN FOR CONDO BUILDING IN NYC

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NEW YORK CITY — Madison Realty Capital (MRC) has originated a $5 million loan, secured by a 243,230-square-foot, newly constructed condominium building in Brooklyn. The five-story property includes 25 residential units and 13 parking spots and is located at 345 Ovington Ave. in the Bay Ridge neighborhood. The loan will be used to retire the existing mortgage, fund closing costs and a future project. The property is roughly 95 percent complete and features one-, two-, and three-bedroom units. The developer has already executed 24 sale agreements and units are expected to begin closing soon.

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IndustrialNortheast

PRODUCTION COMPANY BUYS FORMER SONY FACILITY IN PITMAN, N.J.

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PITMAN, N.J. — Broadway Stages has acquired the 495,166-square-foot former Sony facility in Pitman, a city in southeast New Jersey. The New York City-based film, television and music video production company purchased the property as an investment, according to Binswanger, which brokered the sale. The high-tech facility was previously used to manufacture compact discs and DVDs and includes 19 dock high doors, parking for approximately 830 vehicles, 35,048 square feet of office space and a full-service cafeteria. Binswanger will be marketing the property, which is located at 400 N. Woodbury Road, on behalf of Broadway Stages.

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NortheastOffice

CBRE ARRANGES $18M LOAN FOR FAIRFIELD BUSINESS CENTER

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SADDLE BROOK, N.J. — CBRE Group Inc. has arranged $18 million in financing for Fairfield Business Center in Fairfield, on behalf of a partnership owned and managed by Denholtz Associates and The Zaro Group. James Gunning, Donna Falzarano and Evan Kleppe of CBRE’s debt & equity finance group secured the non-recourse loan with Redwood Trust. The 10-year, fixed-rate loan includes a 30-year amortization schedule. Fairfield Business Center is a seven-building, 336,000-square-foot flex/office park situated in the heart of the Fairfield/Route 46 submarket. The portfolio was 85 percent occupied at the time of the transaction.

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Mixed-UseNortheast

MRC PROVIDES $7.2M LOAN FOR ASTORIA MIXED-USE PROPERTY

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NEW YORK CITY — Madison Realty Capital (MRC) has provided a $7.2 million construction loan for a partially complete mixed-use property in Queens. The property is located at 28-18 Astoria Blvd. in the neighborhood of Astoria. Proceeds from the loan will be used to retire outstanding debt and fund the completion of construction for the building. The seven-story, 24,992-square-foot property includes 21,514 square feet of residential, as well as 2,289 square feet of retail space and 1,189 square feet of community space. The final phase of the project includes the construction of 28 one-bedroom units.

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Mixed-UseNortheast

UC FUNDING PROVIDES $6.5M FOR MIXED-USE BUILDING IN PITTSBURGH

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PITTSBURGH, PA. — UC Funding has provided $6.5 million in financing for the acquisition of a 60,473-square-foot, six-story mixed-use building in downtown Pittsburgh. The borrower plans to renovate floors two through six, which are currently vacant, and convert them to 40 Class A apartments. Each unit will include stainless steel appliances, granite or quartz countertops, solid maple cabinets, side-by-side washer and dryer, marble bathroom vanities and tiled flooring. Built in 1900, the building includes 7,290 square feet of ground-floor retail that is fully occupied by a restaurant. Construction is slated to begin shortly after closing and will take 12 months to complete.

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NortheastOffice

PARTNERSHIP BUYS 400,000 SF OFFICE COMPLEX IN NEW YORK

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ISLANDIA AND HAUPPAUGE, N.Y. — A partnership has acquired The Crossroads Corporate Center, a 400,000-square-foot, 13-building office complex in Islandia and Hauppauge. Matrix Investment Group and The Crest Group purchased the building, which has been renamed the Matrix Corporate Park. The Class A office property is situated on the north and south side of the Long Island Expressway at exit 57. Current tenants include National Life Group, Stifel Nicolaus, Paychex, EmpireNational Bank, Rubin & Rothman and TransFirst. Available space at Matrix Corporate Park ranges from 750-square-foot executive suites to 8,000-square-foot areas.

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Northeast

FLIP CITY SIGNS 9,000 SF LEASE IN MERRIMACK, N.H.

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MERRIMACK, N.H. — Flip City Gym has signed a five-year lease for 9,000 square feet in Merrimack, located about 11 miles south of Manchester. The nonprofit organization, which focuses on improving the health and fitness of children, is expanding to a second location. The gym is located at 746 Daniel Webster Highway. Aron Brown of NAI Norwood Group represented Flip City Gym in the transaction. Matt Toolin of Fini Real Estate represented the landlord.

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