TEANECK, N.J. — Columbia University Irving Medical Center will open a 4,283-square-foot surgical outpatient center in the Northern New Jersey community of Teaneck. The clinic will be located within the 670,000-square-foot, four-building Glenpointe mixed-use campus. Jeff Schotz, Peter Rossi, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Gerry Lees and Jeffrey Prezant of Cushman & Wakefield represented the tenant.
HACKENSACK, N.J. — Locally based developer Hornrock Properties has begun leasing a 168-unit multifamily project in the Northern New Jersey community of Hackensack. Designed by Minno & Wasko Architects, the six-story building represents Phase II of a larger development known as Ivy & Green, Phase I of which totaled 221 units. Residences come in studio, one- and two-bedroom floor plans, and the campaign begins with 30 percent of the units preleased. Ivy & Green offers amenities such as a pool, coworking spaces, private conference rooms, a gaming lounge, speakeasy bar, demonstration kitchen, theater and music studio, a children’s playroom, fitness center, pet spa and package lockers. Monthly rents start at $2,215 for a studio.
CHELSEA, MASS. — MassDevelopment has provided $24.5 million in tax-exempt bond financing for a 66-unit affordable housing project that will be located just south of Boston in Chelsea. The building at 170 Cottage St. will ultimately house 11 three-bedroom units, 43 two-bedroom apartments and 12 one-bedroom residences. Units will be reserved for households earning up to 30, 50 or 60 percent or the area median income. The development will also include onsite parking and 15,000 square feet of open green space. A subsidiary of Eastern Bank purchased the bond, and the project is also being funded by $19.7 million in federal tax credits. The developer is nonprofit agency The Community Builders.
NEW YORK CITY — Interactive Brokers Group has signed a 22,916-square-foot office lease expansion at 1133 Avenue of the Americas in Midtown Manhattan. The provider of automated brokerage services for securities trading is taking an additional 5,976 square feet on the 36th floor of the 45-story, 1.1 million-square-foot building. Tim Dempsey, Roger Griswold and Chris Hogan of CBRE represented the tenant in the lease negotiations. Tom Bow, Rocco Romeo and Nora Caliban represented the landlord, The Durst Organization, on an internal basis.
LANGHORNE, PA. — Locally based brokerage firm Roddy Inc. has negotiated a 20,160-square-foot industrial lease at 181 Wheeler Court in Langhorne, a northeastern suburb of Philadelphia. The 100,055-square-foot building sits on 7.4 acres near I-95, the Pennsylvania Turnpike and the New Jersey Turnpike. Sean Durkin of Roddy Inc. represented the tenant, Vintage Imports, in the lease negotiations. Andrew McGhee of Colliers represented the landlord, an affiliate of Los Angeles-based Ares Management Corp.
NEW YORK CITY — Newmark has arranged an 11,232-square-foot office lease at 461 Fifth Avenue in Midtown Manhattan. Designed by Skidmore, Owings & Merrill and completed in 1988, the building rises 28 stories and totals roughly 200,000 square feet. The lease term is 10 years, and the space spans the entire sixth floor. Brian Waterman, Scott Klau, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green, in the lease negotiations. Ron LoRusso, Harley Dalton and Samantha Perlman of Cushman & Wakefield represented the tenant, investment management firm Lingotto US.
NEWARK, N.J. — A partnership between Creation, a developer with offices in Phoenix and Dallas, and J.P. Morgan Asset Management has received a $64 million construction loan for a 120,584-square-foot industrial project in Newark. The 10-acre site is adjacent to Newark Liberty International Airport and formerly served as a parking facility. The new building, which is fully preleased to Barsan Global Logistics, will be known as McClellan One and will feature 87 trailer parking stalls. Vertical construction will begin within the next 60 days, and completion is slated for February 2025. Los Angeles-based PCCP LLC provided the three-year, floating-rate loan. John Alascio, Rob Rubano, Brian Share, T.J. Sullivan and Chris Meloni of Cushman & Wakefield arranged the debt.
NEEDHAM, MASS. — Regional owner-operator Wingate Living will develop a 69-unit seniors housing project in Needham, a western suburb of Boston. One Wingate Way East will offer one- and two-bedroom units with more than a dozen different floor plans. Amenities will include a pickleball court, rooftop lounge and grille, a golf simulator, art workshop, yoga and spin studios, library and a bistro bar with personal wine lockers. Construction is expected to begin before the end of the year.
NEW YORK CITY — CL Credit, a division of New York-based investment firm Castle Lanterra Properties, has provided a $24 million loan for the refinancing of an 81-unit affordable housing property located at 53 E. 177th St. in The Bronx. Completed in 2023, the property comprises three studios, 38 one-bedroom units, 30 two-bedroom apartments and one ground-floor retail space. The undisclosed borrower will use a portion of the proceeds to retire senior construction debt and fund remaining lease-up costs.
NEW YORK CITY — Marcus & Millichap has arranged the $8.1 million sale of a 10-unit apartment building in Manhattan’s Chelsea neighborhood. Built in 1905, the five-story building at 321 W. 16th St. houses a mix of one-, two- and three-bedroom units. Joe Koicim, Zan Colin and Logan Markley of Marcus & Millichap represented the seller, locally based investment firm Centennial Properties, in the transaction. The trio also procured the buyer, TARGO Capital Partners.