Northeast

American Lions Begins Leasing 164-Unit Apartment Building in Queens

by Taylor Williams August 1, 2024

NEW YORK CITY — American Lions, which is a joint venture between locally based developers Fetner Properties and Lions Group, has begun leasing The Bold, a 164-unit apartment building in Queens. Designed by SLCE Architects, the 28-story building is located at 2701 Jackson Ave. in the borough’s Long Island City area and includes 50 affordable housing residences. Units come in studio, one-, two- and three-bedroom floor plans. The amenity package consists of a coworking lounge, gym with a climbing wall, party room with a bar and kitchen, clubhouse lounge, media room and a golf simulator room. Rents start at roughly $3,600 per month for a studio apartment.

August 1, 2024

Acquisitions Industrial Maine Northeast

MAG Capital Partners Buys 84,800 SF Manufacturing, Headquarters Facility in South Paris, Maine

by Taylor Williams August 1, 2024

SOUTH PARIS, MAINE — In a sale-leaseback transaction, MAG Capital Partners has acquired the manufacturing and headquarters facility of KBS Builders, a wholly owned subsidiary of Star Equity Holdings. The 84,800-square-foot facility, which is located about 30 miles from the Maine-New Hampshire border in South Paris, was originally built on 18.6 acres in 2004 and features a clear height of 40 feet and nine dock doors. Jeff Lizzo and Krupa Shah of STREAM Capital Partners represented KBS Builders in the transaction. The sales price was not disclosed.

August 1, 2024

Hospitality Loans New York Northeast Restaurant Retail

Ariel Property Advisors Arranges $8.7M Refinancing of Manhattan Retail, Hospitality Portfolio

by Taylor Williams August 1, 2024

NEW YORK CITY — Ariel Property Advisors has arranged an $8.7 million loan for the refinancing of a retail and hospitality portfolio in Manhattan’s Theater District. The fully occupied portfolio consists of two properties, both of which feature bars/restaurants that are owned and operated by the undisclosed borrower. In addition, the second property has a boutique hotel occupying floors three through six that is leased to a third-party operator. The direct lender and addresses of the property were also not disclosed. Ben Schlegel, Matt Swerdlow, Christoffer Brodhead and Rhea Vivek of Ariel originated the three-year loan.

August 1, 2024

Leasing Activity New York Northeast Restaurant Retail

State of Play Signs 10,700 SF Retail Lease in Manhattan’s Union Square

by Taylor Williams August 1, 2024

NEW YORK CITY — State of Play Hospitality, an entertainment retail operator, has signed a 10,700-square-foot retail lease at 31 Union Square West in Manhattan with plans to open a Flight Club venue. Spanning the ground floor and basement of the property, the facility will offer darts-focused games with food-and-beverage options. Scheduled to open in 2025, this marks the ninth North America location for the brand. Blue Water Grill restaurant previously occupied the space.

August 1, 2024

Loans New York Northeast Office Retail

IPA Arranges $50M Loan for Refinancing of Manhattan Office, Retail Property

by Taylor Williams July 31, 2024

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged a $50 million loan for a 12-story, 144,000-square-foot office and retail property in Manhattan’s SoHo neighborhood. The newly renovated building spans a full city block from Broadway to Crosby Street in between Houston and Prince streets. Matthew Polci, Steven Buchwald and Rachael Krawiecki of IPA originated the loan through a partnership between Maxim Capital Group, Sabal Investment Holdings and GDS Brightstar. The borrower was a partnership between London-based Chelsfield Group and RAM Holdings.

July 31, 2024

Mid-Hudson-Logistics-Center-West-Coxsackie-New-York

Acquisitions Industrial New York Northeast

Winstanley Enterprises Buys 333,386 SF Industrial Property in West Coxsackie, New York

by Taylor Williams July 31, 2024

WEST COXSACKIE, N.Y. — Regional investment firm Winstanley Enterprises has purchased Prime Logistics Center, a 333,386-square-foot industrial property in West Coxsackie, about 25 miles south of Albany. The 30.7-acre site is located within a larger industrial park, and the building previously housed the distribution operations of grocer Save A Lot. Building features include 61 loading docks, two drive-in doors and parking for 77 trailers and 216 passenger vehicles. The seller and sales price were not disclosed. Winstanley plans to make capital improvements and rebrand the property as Mid-Hudson Logistics Center.

July 31, 2024

Acquisitions Multifamily New Jersey Northeast

Hudson Atlantic Negotiates $20M Sale of Multifamily Property in Robbinsville, New Jersey

by Taylor Williams July 31, 2024

ROBBINSVILLE, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $20 million sale of Southside Lofts, a 64-unit multifamily property in the Central New Jersey community of Robbinsville. The seller, Sharbell Development, delivered the property in 2020. According to Apartments.com, Southside Lofts offers one- and two-bedroom units that range in size from 713 to 1,207 square feet and amenities such as a fitness center, lounge and a rooftop terrace. Adam Zweibel of Hudson Atlantic represented Sharbell Development in the transaction and procured the undisclosed buyer.

July 31, 2024

Leasing Activity New Hampshire Northeast Retail

PickUp USA Fitness Signs 25,188 SF Retail Lease in Manchester, New Hampshire

by Taylor Williams July 31, 2024

MANCHESTER, N.H. — PickUp USA Fitness, a basketball-focused concept, has signed a 25,188-square-foot retail lease in Manchester, located near the New Hampshire-Massachusetts border. The space is located within the 166,000-square-foot former Union Leader building and will house an NBA-sized court, multiple half courts, event space, locker rooms and cardio and weight training areas. Andrew Robbins and Alex Blecksmith of Colliers represented PickUp USA in the lease negotiations. An opening date has not yet been determined.

July 31, 2024

Leasing Activity Maine Northeast Retail

Simon Welcomes New Retailers to Kittery Premium Outlets in Southern Maine

by Taylor Williams July 31, 2024

KITTERY, MAINE — Simon Property Group has welcomed a host of new retailers to Kittery Premium Outlets in southern Maine. Claire’s, Carter’s, OshKosh B’Gosh, Mélange Home, Perfume Palace, Limited Hype and Jack’s Country Store have all recently opened stores, and Vineyard Vines will open next spring. Simon acquired Kittery Premium Outlets, which is home to more than 50 retailers across five centers, over the course of the 2000s.

July 31, 2024

Rivermark-Northern-Liberties-Philadelphia

Development Multifamily Northeast Pennsylvania

Partnership Completes 470-Unit Multifamily Waterfront Project in Philadelphia

by Taylor Williams July 30, 2024

PHILADELPHIA — A partnership between Jefferson Apartment Group, Haverford Properties and AFL-CIO Building Investment Trust has completed a 470-unit multifamily project in Philadelphia’s Northern Liberties neighborhood. Rivermark Northern Liberties fronts the Delaware River and consists of two midrise residential buildings, 45,000 square feet of retail space that is anchored by a Sprouts Farmers Market and four acres of public green space. Units come in one-, two- and three-bedroom floor plans and range in size from 527 to 1,605 square feet. Amenities include a pool, rooftop lounges with speakeasys, two fitness centers, a courtyard with fire pits and grilling stations, a lounge, game room, micro offices and a pet spa. Citizens Bank and Santander Bank financed construction of the project. Rents start at roughly $1,900 per month for a one-bedroom apartment.

July 30, 2024

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