NEW YORK CITY — WeWork will open a 60,000-square-foot coworking space at 250 Broadway in Lower Manhattan. The space will encompass five of the 648,000-square-foot building’s 31 floors. Peter Riguardi, Clark Finney, Alexander Riguardi and Dana Goldman of JLL represented WeWork in the lease negotiations in conjunction with two of the company’s real estate leaders, Peter Greenspan and Whitney Anderson. Brad Gerla, Michael Rizzo and Alex Benisatto of CBRE, along with internal agent Anne Holker, represented the landlord, Am Trust RE. The opening is slated for December.
RED BANK, N.J. — Regional healthcare provider Hackensack Meridian Health has signed a 50,000-square-foot office lease in Red Bank, located near the Jersey Shore. The space is located within River Centre, a six-building, 668,107-square-foot campus. Jamie Drummond , Andrew Perrotti and Luke Reid of Newmark represented the landlord, Paramount Realty, in the lease negotiations. Suzanne Macnow of CBRE represented Hackensack Meridian.
NEW YORK CITY — JLL has brokered the $243.5 million sale of Riverbank, a 44-story apartment tower located at 560 W. 43rd St. in Midtown Manhattan. Barings sold the freshly renovated property to an undisclosed institutional investment firm, with JLL representing both parties in the transaction. JLL also arranged $128.3 million in acquisition financing for the deal. The direct lender and specific loan terms were not disclosed. Originally developed in the late 1980s as a condominium project, Riverbank currently houses 418 rental units comprising 43 studios, 270 one-bedroom units, 62 two-bedroom apartments and 43 three-bedroom residences. The high-rise also features nearly 18,000 square feet of retail space that is fully leased to a nail salon, liquor store and coffee shop. Most of Riverbank’s units have private balconies with city and Hudson River views, and residents have access to a 5,000-square-foot lounge called the Harbor Club that offers poker and billiards tables, a media room and coworking space. Additional amenities include an Olympic-size pool, fitness center, outdoor terrace and grilling stations. Jeffrey Julien, Rob Hinckley, Andrew Scandalios, Steven Rutman and Devon Warren led the JLL Capital Markets team that handled the sale of Riverbank. Kelly Gaines, Geoff Goldstein and Michael Shmuely …
NEWTON, MASS. — MassDevelopment has provided $134.8 million in tax-exempt bond financing for Lasell Village, a seniors housing community located in the western Boston suburb of Newton. The owner, an entity doing business as Lasell Village Inc., will use the proceeds to renovate and expand the property. Regarding the renovation aspect of the deal, ownership plans to revamp its main building by adding seven supported living units and modernizing its skilled nursing program to include all-private rooms. Regarding the expansion, ownership has purchased a 1.4-acre tract with plans to construct a new building with 42 independent living units, a bistro, fitness and wellness centers, a multi-purpose room and common spaces.
NEW YORK CITY — A partnership between locally based developer Witkoff and an affiliate of global investment firm Apollo Global Management has delivered The Brook, a 52-story apartment building in downtown Brooklyn. The Brook houses 591 apartments in studio, one- and two-bedroom floor plans, as well as 21,000 square feet of retail space. Thirty percent of units are reserved as affordable housing. Income restrictions for these units were not disclosed. Amenities include a pool, basketball court, lounge, fitness center, library, communal terraces, playground, dog run and coworking spaces. Beyer Blinder Belle designed the community, and Bonetti/Kozerski Architecture provided interior design services. Suffolk Construction served as the general contractor. Rents start at $3,870 per month for a studio apartment.
JERSEY CITY, N.J. — LeFrak has completed Bisby, a 34-story apartment tower in Jersey City that is located within the 600-acre Newport master-planned community in the city’s downtown area. Designed by Minno & Wasko Architects and Planners with interiors by Woods Bagot, Bisby houses 385 units in studio, one-, two-, three- and four-bedroom configurations. Amenities include a coworking lounge, golf simulator, dedicated content studio and a dog spa, as well as a 33,000-square-foot landscaped rooftop terrace with a pickleball court, dog run and an outdoor kitchen. Leasing launched last summer. Rents today start at about $3,400 per month for a studio apartment.
NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of a 97-unit apartment building in The Bronx. The six-story, elevator-served building at 1154 Ward Ave. was originally constructed in 1929 in the borough’s Soundview neighborhood. According to Apartments.com, the building exclusively houses one-bedroom units with an average size of 713 square feet. Michael Fusco, Seth Glasser and Benjamin Myerow of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
BETHLEHEM, PA. — Filter King LLC, a provider of customized HVAC parts, has opened a 61,600-square-foot manufacturing and distribution facility in the Lehigh Valley city of Bethlehem. Regional developer J.G. Petrucci Co. owns the building, and The Lehigh Valley Economic Development Corp. assisted Filter King in its site selection process. Filter King, which now has an operational footprint of 200,000 square feet across three states, says the opening of the Bethlehem facility could result in the creation of as many as 120 new jobs.
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Innovative Design Can Promote Positive Outcomes for Continuum of Care Residents
As the demand for senior living communities continues to rise, so does the complexity of designing environments that meet the evolving needs of residents across the entire continuum of care. Facilities that seek to cater to independent living, assisted living, memory care, skilled nursing and rehabilitation needs must strike a balance: fulfilling stringent functional and regulatory requirements while remaining inviting, promoting connection to nature and others and offering comfort for people of all ages and abilities. The biggest challenge, according to designers and seniors housing experts alike, is “seamlessly weaving protective elements, like perimeter security or grade changes, into a design that feels warm and inclusive, not institutional,” explains Adam Alexander, director of planning, landscape architecture and design at Bohler, a land development design and consulting firm. “Features like fences or bollards don’t need to be emphasized as one-note safety features. They should be invisible contributors to a resident’s experience of comfort and care.” An overall trend toward smaller sites for seniors housing means that continuum of care communities are innovators in inclusive and multi-purpose space use. They may also serve to address increasing calls for solutions to the loneliness epidemic ongoing in the lives of many adults. While less square …
NEWARK, DEL. — Chicago-based Logistics Property Co. will develop Crossroads 95 Logistics Center, a 442,350-square-foot industrial project in Newark. The 43-acre site offers proximity to the Delaware Memorial Bridge and the Port of Wilmington, as well as 1,000 feet of frontage along I-95, and the building will feature a clear height of 36 feet and ample car and trailer parking. Construction is scheduled to begin in the coming weeks and to be complete in the third quarter of 2026. John Plower, Ryan Cottone, Zach Maguire and Jordan Schwartz of JLL brokered the sale of the land.