Northeast

Baron Property Group, LargaVista Receive $388.5M in Construction Financing for Queens Multifamily Project

by Taylor Williams July 1, 2025

NEW YORK CITY — A partnership between two developers, New York-based Baron Property Group and Miami-based LargaVista Cos., has received $388.5 million in construction financing for a 561-unit multifamily project in the Long Island City neighborhood of Queens. Designed by CetraRuddy, the development will consist of 451 apartments and 110 condos, as well as 21,000 square feet of retail space, that will be housed within a 46-story building at 30-25 Queens Blvd. Starwood Capital Group, Gotham Organization and Blackstone Real Estate Debt Strategies provided the financing, which was co-arranged by Ayush Kapahi of HKS Real Estate Advisors and Anthony Ledesma of DIA Capital Group. Rental and condo residences will feature studio, one- and two-bedroom floor plans. Amenities will include a rooftop pool, basketball and pickleball courts, a content creation and recording studio, fitness center, private outdoor terraces with grilling stations, a solarium with a kitchen, pet spa, coworking lounges and a game room. Completion is slated for 2028.

July 1, 2025

Affordable Housing Development Loans Multifamily New York Northeast

BFC Partners Lands $250M Construction Loan for Coney Island Affordable Housing Project

by Taylor Williams July 1, 2025

NEW YORK CITY — Locally based developer BFC Partners has landed a $250 million construction loan for 1709 Surf Avenue, a 420-unit affordable housing project on Coney Island. The project marks the third and final phase of a 1,242-unit, three-building affordable housing development along Surf Avenue that is valued at approximately $700 million. Income restrictions across the three buildings range from 30 to 130 percent of the area median income. Project partners include the New York City Department of Housing Preservation and Development, the New York City Housing Development Corp. and Citi Community Capital. Construction is slated for a 2028 completion.

July 1, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Negotiates Sale of 99-Unit Apartment Building in Easton, Massachusetts

by Taylor Williams July 1, 2025

EASTON, MASS. — CBRE has negotiated the sale of a 99-unit apartment building in Easton, located roughly midway between Boston and Providence. Zen Easton is a three-story building that was completed in 2003 and offers studio, one- and two-bedroom units with an average size of 798 square feet. Amenities include a resident lounge, dining hall and catering kitchen, cyber lounge, fitness center, library and two theater rooms. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an affiliate of San Francisco-based FPA Multifamily, in the transaction. CBRE also procured the buyer, an unnamed institutional investor.

July 1, 2025

Leasing Activity Massachusetts Northeast Retail

The Picklr to Open 36,192 SF Sports Entertainment Venue in Danvers, Massachusetts

by Taylor Williams July 1, 2025

DANVERS, MASS. — The Picklr, an entertainment concept centered on pickleball, will open a 36,192-square-foot venue in Danvers, a northern suburb of Boston. The space is located within a former Bed Bath & Beyond store at Endicott Square, a 56,275-square-foot shopping center that is also home to tenants such as Quest Diagnostics, Salem Five and Advance Auto Parts. Don Mace of local brokerage firm KeyPoint Partners represented the undisclosed landlord in the lease negotiations. The venue is expected to open before the end of the year.

July 1, 2025

Leasing Activity New York Northeast Office

Tailwind Management Signs 14,000 SF Office Lease in Midtown Manhattan

by Taylor Williams July 1, 2025

NEW YORK CITY — Tailwind Management has signed a 14,000-square-foot office lease at 299 Park Avenue, a 1.2 million-square-foot building in Midtown Manhattan. The business consulting firm is relocating from 485 Lexington Ave. Greg Taubin of Savills represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Andy Sachs and Eric Cagner of Newmark, along with internal agents Marc Packman and Clark Briffel, represented the landlord, Fisher Brothers.

July 1, 2025

Development Multifamily New Jersey Northeast

Woodmont Completes Lease-Up of 300-Unit Apartment Community in Hopewell, New Jersey

by Taylor Williams June 30, 2025

HOPEWELL, N.J. — Locally based developer Woodmont Properties has completed the lease-up of a 300-unit apartment community in the Northern New Jersey city of Hopewell. Woodmont Forge at Hopewell is now fully occupied. The property features one- and two-bedroom units, some of which offer lofts or dens, that are furnished with stainless steel appliances, quartz countertops, tile backsplashes and full-size washers and dryers. Private garages are also available in select residences. Amenities include a pool, fitness center with on-demand yoga and spin classes, game den, a multi-use theater room, dog park and outdoor grilling and dining stations.

June 30, 2025

Delaware Industrial Leasing Activity Northeast

AMS Fulfillment Signs 181,074 SF Industrial Lease in Bear, Delaware

by Taylor Williams June 30, 2025

BEAR, DEL. — Third-party logistics provider AMS Fulfillment has signed a 181,074-square-foot industrial lease in Bear, located south of Wilmington. The lease term is 10 years, and the deal is for about half of the space at an under-construction facility at 710 American Blvd. The 366,770-square-foot building will feature a clear height of 36 feet, 68 overhead dock doors, 3,150 square feet of office space and parking for 250 cars and 50 trailers. A joint venture between two regional owner-operators, The Davis Cos. and J.G. Petrucci Co. Inc., owns the property, which is slated for a third-quarter delivery. Dan Rattay, Stephen Kriz and Mike Barker of CBRE negotiated the deal.

June 30, 2025

Acquisitions Net Lease Northeast Pennsylvania Retail

CBRE Brokers $12.2M Sale of Net-Leased Retail Building in Jamison, Pennsylvania

by Taylor Williams June 30, 2025

JAMISON, PA. — CBRE has brokered the $12.2 million sale of a 25,000-square-foot retail building in Jamison, a northern suburb of Philadelphia, that is net leased to convenience store operator Wawa and Tractor Supply. ExchangeRight, a Southern California-based investment firm that specializes in net-lease, 1031 and Delaware Statutory Trust deals, purchased the asset from New Jersey-based ARCTRUST. Matthew Gorman and Michael Shover of CBRE brokered the deal.

June 30, 2025

Affordable Housing Development Multifamily Northeast Seniors Housing Vermont

M&T Realty Capital Provides $5M in Equity for Affordable Housing Redevelopment in Vermont

by Taylor Williams June 30, 2025

ORANGE COUNTY, VT. — M&T Realty Capital Corp. has provided $5 million in equity for Chelsea Williamstown Apartments, an affordable housing redevelopment project in Vermont’s Orange County. The project involves the rehabilitation and adaptive reuse of two noncontiguous properties that will add 61 rent-restricted units, many of which will be marketed to seniors, to the local supply. Northfield Savings Bank is financing construction, which is expected to be complete next spring. The owner was not disclosed. M&T also provided a $5.6 million Fannie Mae M.TEB forward commitment as part of the capital stack.

June 30, 2025

Acquisitions Connecticut Industrial Northeast

Angel Commercial Negotiates $4.8M Sale of Two Industrial Buildings in Bridgeport, Connecticut

by Taylor Williams June 30, 2025

BRIDGEPORT, CONN. — Locally based brokerage firm Angel Commercial has negotiated the $4.8 million sale of two industrial buildings in the southern coastal Connecticut city of Bridgeport. The first building is an 87,778-square-foot multi-tenant structure that is anchored by Beacon Roofing Supply. The second building is an 11,728-square-foot facility that was formerly owned and occupied by New England Heating Parts Co. Jon Angel of Angel Commercial brokered both sales. The buyers and sellers were not disclosed.

June 30, 2025

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