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170-Freeman-St.-Brooklyn
LoansMultifamilyNew YorkNortheast

Dwight Mortgage Trust Provides $34M Loan for Refinancing of Brooklyn Apartment Building

by Taylor Williams

NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of New York City-based Dwight Capital, has provided a $34 million bridge loan for the refinancing of a 67-unit apartment building located in the Greenpoint area of Brooklyn. The newly developed, eight-story building at 170 Freeman St. includes ground-floor commercial space. The unit mix comprises 12 studios, 40 one-bedroom units and 15 two-bedroom apartments. Amenities include a fitness center, study rooms, storage lockers, a resident lounge, pet spa and a rooftop terrace with a grilling station. David Scheer of Dwight originated the debt on behalf of the borrower, Green Street Group Managers LLC.

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The-Reserve-at-Estuary-Weehawken
DevelopmentMultifamilyNew JerseyNortheast

Hartz Mountain Completes 218-Unit Apartment Complex in Weehawken, New Jersey

by Taylor Williams

WEEHAWKEN, N.J. — Locally based developer Hartz Mountain Industries has completed The Reserve at Estuary, a 218-unit apartment complex in the Northern New Jersey community of Weehawken. Designed by MHS Architecture, the property is located within the 60-acre Lincoln Harbor mixed-use development and offers studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, individual washers and dryers and smart technology. Select residences have patios. Amenities include a pool, outdoor lounge, courtyard, fitness center, game room and a coworking lounge. Leasing began in April, at which point rents started at $3,300 per month for a studio apartment.

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IndustrialLeasing ActivityNew YorkNortheast

Cushman & Wakefield Negotiates 28,000 SF Industrial Lease Near JFK International Airport

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has negotiated a 28,000-square-foot industrial lease near JFK International Airport in Queens. The tenant, freight and logistics operator Kennedy Transport Services LLC, will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.

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Leasing ActivityMassachusettsNortheastRetail

PickleBOS to Open 22,570 SF Sports Entertainment Venue in Charlestown, Massachusetts

by Taylor Williams

CHARLESTOWN, MASS. — Pickleball operator PickleBOS will open a 22,570-square-foot sports entertainment venue in Charlestown, a northern metro of Boston. The site at 440 Rutherford Ave. is located within Charlestown Labs, a 166,000-square-foot office and life sciences campus owned by Related Beal. Designed by StudioTYAK, the indoor facility will feature 10 courts that will be equipped with TVs, iPads and cameras for live scoring and instant replays, as well as private event spaces. The opening is slated for December.

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Leasing ActivityNew YorkNortheastOffice

JTC Group Signs 15,926 SF Office Lease in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — JTC Group has signed a 15,926-square-foot office lease in Midtown Manhattan. The global fund administration services company will relocate from Rockefeller Center to the entire 20th floor of 575 Madison Avenue, a 25-story, 385,347-square-foot building. David Hollander, Gregg Rothkin, Brad Auerbach, Maxwell Tarter and William Hooks of CBRE represented the landlord, Steinberg and Pokoik Management Co., in the lease negotiations. John Nugent and Joe D’Apice, also with CBRE, represented the tenant.

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247-Hancock-Boston
Affordable HousingDevelopmentLoansMassachusettsMultifamilyNortheast

M&T Realty Capital Provides $44.8M in Financing for Mixed-Income Housing Project in Boston

by Taylor Williams

BOSTON — M&T Realty Capital Corp. has provided $44.8 million in financing for 247 Hancock, a 47-unit mixed-income housing project that will be located in the Dorchester area of Boston. The six-story building will offer studio, one-, two- and three-bedroom units. Amenities will include a fitness studio, tenant lounge and rooftop deck. The financing includes a $6.3 million Freddie Mac unfunded forward commitment under the 9 percent Low-Income Housing Tax Credit program, a $19.2 million construction loan and a $19.3 million tax credit equity investment, with the latter two components being executed by M&T Bank. Construction is slated for an early 2027 completion.

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IndustrialLoansNew JerseyNortheast

G.S. Wilcox Arranges $23M Permanent Loan for Industrial Property in Secaucus, New Jersey

by Taylor Williams

SECAUCUS, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged a $23 million permanent loan for an industrial property located in the Northern New Jersey community of Secaucus. The 200,000-square-foot facility, which was fully leased at the time of sale, includes 19 loading docks, one drive-in door and office space. Gretchen Wilcox and Al Raymond of G.S. Wilcox arranged the five-year, fixed-rate loan through an undisclosed life insurance company. The borrower was also not disclosed.

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AcquisitionsConnecticutHealthcareNortheast

Chozick Realty Negotiates $10.5M Sale of Connecticut Medical Office Portfolio

by Taylor Williams

HARTFORD, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $10.5 million sale of a portfolio of three medical office properties totaling 94,400 square feet in Connecticut. The portfolio comprises the two-building, 66,000-square-foot Twin Ponds Office Centre in Tolland; Windham Professional Park, a two-building, 16,400-square-foot complex in Windham; and Ledgebrook North, a 12,000-square-foot, three-building property in Mansfield. Tom Boyle of Chozick represented the undisclosed seller in the deal.

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Leasing ActivityNew YorkNortheastOffice

WeWork Signs 55,000 SF Office Lease at 245 Fifth Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — WeWork has signed a 55,000-square-foot office lease at 245 Fifth Avenue, a 24-story, 316,495-square-foot building in Midtown Manhattan. The space spans four floors, and the lease term is 10 years. Aaron Ellison and Travis Milone of Newmark, along with internal agents Peter Greenspan and Melissa Visoky, represented WeWork in the lease negotiations. Scott Klau, Erik Harris, Zach Weil, Cole Gendels and Ben Klau, also with Newmark, represented the landlord, The Moinian Group.

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IndustrialLeasing ActivityNew YorkNortheast

Cushman & Wakefield Secures 25,000 SF Industrial Lease Near JFK International Airport

by Taylor Williams

NEW YORK CITY — Cushman & Wakefield has secured a 25,000-square-foot industrial lease near JFK International Airport in Queens. The tenant, pastry producer Pidy Gourmet Inc., will occupy space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. The tenant representative was not disclosed.

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