Northeast

Newmark Brokers $24.3M Sale of Medical Office Building in Wellesley, Massachusetts

by Taylor Williams June 27, 2024

WELLESLEY, MASS. — Newmark has brokered the $24.3 million sale of a 67,264-square-foot medical office building located at 65 Walnut St. in Wellesley, a western suburb of Boston. Two locally based healthcare systems, Mass General Brigham and Tufts Medicine, serve as the anchor providers. At the time of sale, the property was fully leased to 22 tenants in fields such as dermatology, plastic surgery, urology, ophthalmology, internal medicine and pediatrics, as well as physical and occupational therapy. An affiliate of Haynes Management sold the property to a joint venture between Sendero Capital and TPG Angelo Gordon. Robert Griffin, Michael Greeley, Joseph Alvarado and Casey Valente of Newmark represented both parties in the deal.

June 27, 2024

Loans Multifamily New York Northeast

Ariel Property Advisors Arranges $9.4M Agency Loan for Refinancing of East Harlem Apartment Complex

by Taylor Williams June 27, 2024

NEW YORK CITY — Locally based financial intermediary Ariel Property Advisors has arranged a $9.4 million Fannie Mae loan for the refinancing of Olga Mendez Apartments, a 77-unit multifamily complex in East Harlem. The two-building property is located at 1652 Park Ave. and 91 E. 116th St. Matt Swerdlow and Matt Dzbanek of Ariel Property Advisors placed the nonrecourse loan, which was structured with three years of interest-only payments and seven years of payments at a fixed interest rate of 5.56 percent, through PGIM. The borrower was not disclosed.

June 27, 2024

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $5.2M Partial Sale of Housing Cooperative in Elizabeth, New Jersey

by Taylor Williams June 27, 2024

ELIZABETH, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the partial sale of Tudor Court, an 85-unit housing cooperative located at 800-822 N. Broad St. in the Northern New Jersey community of Elizabeth. The sale included 46 of the units and fetched an all-cash price of $5.2 million. The units were fully occupied at the time of sale. Janet Bortz and Joni Sweetwood of Kislak represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

June 27, 2024

Leasing Activity New York Northeast Retail

Whole Foods to Open 43,916 SF Store in Huntington Station, New York, on July 17

by Taylor Williams June 27, 2024

HUNTINGTON STATION, N.Y. — Whole Foods Market will open a 43,916-square-foot store in Huntington Station, a hamlet and census-designated area on Long Island, on July 17. The store will be located at 330 Walt Whitman Road and will offer more than 2,000 locally sourced items from more than 400 regional suppliers. The store will also feature full-service meat and seafood counters, a bakery, wellness and beauty section and a selection of more than 300 craft beers. The Austin-based grocer operates about 30 stores in New York, including more than half a dozen on Long Island.

June 27, 2024

Leasing Activity New York Northeast Office

HSBC Signs 35,400 SF Office Lease Expansion at The Spiral in Midtown Manhattan

by Taylor Williams June 27, 2024

NEW YORK CITY — HSBC Bank has signed a 35,400-square-foot office lease expansion at The Spiral, a 66-story tower located in Midtown Manhattan. The company initially signed a 20-year, 265,000-square-foot lease for its headquarters space in May 2022. Following the expansion, HSBC will occupy the entire 29th and 30th floors in addition to three podium floors and a recently opened wealth center at street level. Greg Conen and Sam Brodsky internally represented the landlord, Tishman Speyer, in the lease negotiations. Peter Riguardi, Matt Astrachan, Mitchell Konsker and Will McGarry of JLL represented HSBC.

June 27, 2024

Development Loans Multifamily New York Northeast

Affinius Capital, Kennedy Wilson Provide $160M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams June 26, 2024

NEW YORK CITY — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, and global investment firm Kennedy Wilson have provided a $160 million construction loan for a multifamily project in Brooklyn. The site at 340 Nevins St. is located in the Gowanus neighborhood. The project will be a 22-story building that will house 320 units, 25 percent of which will be set aside as affordable housing, as well as 29,000 square feet of retail space. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, coworking spaces and indoor and outdoor lounges. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the debt on behalf of the borrower, a partnership between Tavros Holdings and Charney Cos. Completion is slated for mid-2027.

June 26, 2024

Development Massachusetts Northeast

Greystar Welcomes First Residents to 450-Unit Apartment Community in Everett, Massachusetts

by Taylor Williams June 26, 2024

EVERETT, MASS. — South Carolina-based developer Greystar has begun welcoming the first residents to Anthem Everett, a 450-unit apartment community located on the eastern outskirts of Boston. Designed by The Architectural Team, Anthem Everett is located in the city’s Commercial Triangle District and includes a 564-space parking garage and 6,500 square feet of retail space. Units come in studio, one- and two-bedroom floor plans and are furnished with stainless steel appliances, quartz countertops, keyless entry mechanisms and built-in work nooks. Amenities include a pool, fitness center, resident lounge, outdoor gaming area, coworking lounge, golf simulator, dog park and a clubroom. Construction began in spring 2022. Rents start at $2,400 per month for a studio apartment.

June 26, 2024

Development Industrial Leasing Activity New Jersey Northeast

Seagis Completes Renovation of 202,490 SF Northern New Jersey Industrial Building, Signs New Tenant

by Taylor Williams June 26, 2024

EAST RUTHERFORD, N.J. —Seagis Property Group has completed the renovation of a 202,490-square-foot industrial building located at 13 Manor Road in the Northern New Jersey community of East Rutherford. The metro Philadelphia-based development and investment firm has also signed an undisclosed tenant to a full-building lease at the property, which features a clear height of 22 feet, 16 docks and 84 car parking spaces. Seagis purchased the building, which previously functioned as a manufacturing facility, in 2006.

June 26, 2024

Leasing Activity New York Northeast Office

Cushman & Wakefield Negotiates 15,158 SF Office Lease in Midtown Manhattan

by Taylor Williams June 26, 2024

NEW YORK CITY — Cushman & Wakefield has negotiated a 15,158-square-foot office lease in Midtown Manhattan. The tenant, deal-sourcing platform Grata Inc., will occupy the entire second floor at 1410 Broadway, which recently underwent a $20 million capital improvement program. David Hoffman and Sam Hoffman of Cushman & Wakefield represented Grata Inc. in the lease negotiations. Richard Doolittle, Michael Joseph, John Howard and Taylor Bell of Colliers represented the landlord, L.H. Charney Associates.

June 26, 2024

Leasing Activity New York Northeast Office

Meirowitz & Wasserberg Signs 12,007 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams June 26, 2024

NEW YORK CITY — Law firm Meirowitz & Wasserberg has signed a 12,007-square-foot office lease expansion at 1040 Avenue of the Americas in Midtown Manhattan. The deal is part of a series of leases that brings the 24-story building to 97 percent occupancy. Billy Cohen, J.D. Cohen and Ariel Harwood of Newmark represented the owner, Skyline Developers, in the lease negotiations. The tenant representative was not disclosed.

June 26, 2024

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