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Emblem-120-Woburn
LoansMassachusettsMultifamilyNortheast

Mesa West Capital Provides $81M Loan for Refinancing of Metro Boston Apartment Complex

by Taylor Williams

WOBURN, MASS. —Mesa West Capital has provided an $81 million loan for the refinancing of Emblem 120, a 289-unit apartment complex in the northern Boston suburb of Woburn. Developed by a joint venture between Toll Brothers and Carlyle Group in 2022, Emblem 120 rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a central courtyard, work-from-home space, rooftop terrace and lounge, pool with cabanas and a fitness center. The property also includes 9,390 square feet of street-level retail space. David Douvadjian, Timothy O’Donnell and David Douvadjian Jr. of Newmark arranged the debt through an undisclosed direct lender on behalf of the joint venture. 

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AcquisitionsMultifamilyNew YorkNortheast

Marcus & Millichap Brokers $13.2M Sale of Queens Apartment Building

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $13.2 million sale of a 76-unit apartment building in the Astoria neighborhood of Queens. The six-story building at 34-50 28th St. was originally constructed in 1930, according to StreetEasy.com. Units come in studio, one- and two-bedroom floor plans. Louis Zarif, Shaun Riney and Sean Fopeano of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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AcquisitionsConnecticutMultifamilyNortheastSeniors Housing

Berkadia Arranges Sale of 85-Unit Seniors Housing Complex in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — Berkadia has arranged the sale of an 85-unit seniors housing complex in Stamford, approximately 30 miles northeast of Manhattan. The unnamed facility offers assisted living and memory care services. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia represented the seller, a publicly traded REIT. The undisclosed buyer is based in New England.  

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120-E.-144th-St.-Bronx
DevelopmentLoansMultifamilyNew YorkNortheast

SCALE Lending Provides $150M Construction Loan for Bronx Multifamily Project

by Taylor Williams

NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $150 million construction loan for a 450-unit multifamily project that will be located at 120 E. 144th St. in the Mott Haven area of The Bronx. The 13-story building will offer studio, one- and two-bedroom units and amenities such as an outdoor courtyard and garden, a fitness center with yoga studio, business lounge, conference room, music room, coworking space and a rooftop lounge. Leah Paskus of Landstone Capital Group arranged the debt on behalf of the borrower, Beitel Group, which purchased the site in 2022 and demolished the original structure. Construction is slated for a mid-2025 completion.

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681-Main-St.Belleville-New-Jersey
IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges $53.5M Construction Loan for Industrial Development in Belleville, New Jersey

by Taylor Williams

BELLEVILLE, N.J. — Cushman & Wakefield has arranged a $53.5 million construction loan for a 204,407-square-foot industrial project in the Northern New Jersey community of Belleville. The site at 681 Main St. spans 15.3 acres, and the building will feature a clear height of 36 feet, 33 loading docks, four drive-in doors and parking for 160 cars and 43 trailers. John Alascio, Chuck Kohaut, T.J. Sullivan and Jason Blankfein of Cushman & Wakefield arranged the loan through Los Angeles-based PCCP on behalf of the borrower, Lincoln Equities Group.

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DevelopmentMultifamilyNew YorkNortheast

Developer Nears Completion of 28-Unit Multifamily Project in Poughkeepsie, New York

by Taylor Williams

POUGHKEEPSIE, N.Y. — A developer doing business as Built Parcel Six LLC is nearing completion of 44 Springside, a 28-unit multifamily project in Poughkeepsie, about 80 miles north of Manhattan. Designed by Tinkelman Architecture, the five-story building is located within the Arlington area and will house amenities such as an indoor pool, community room, fitness center, rooftop terrace and flexible space for social events or work functions. The development will also feature 7,000 square feet of commercial space. Delivery is slated for this summer. Rents start at $2,500 per month.

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Leasing ActivityNew YorkNortheastOffice

ESKW/Architects Signs 8,447 SF Office Lease in Downtown Manhattan

by Taylor Williams

NEW YORK CITY — ESKW/Architects, which specializes in the design of civic projects, has signed an 8,447-square-foot office lease at 52 Duane St. in downtown Manhattan. The firm is relocating from 100 Lafayette St. to the fifth floor of the 10-story, 100,000-square-foot building, which was originally constructed in 1935. Brad Gerla, Jonathan Cope and Masha Dudelzak of CBRE represented the landlord, an entity doing business as 52 Duane Associates, in the lease negotiations. Elizabeth Martin of E.L. Martin Partners represented the tenant.

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Leasing ActivityNew YorkNortheastRetail

YETI Opens 6,614 SF Store at 200 Fifth Avenue in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — YETI, an Austin-based retailer of coolers and drinkware and other outdoor products, has opened a 6,614-square-foot store at Midtown Manhattan. The two-story space, which is located within the 860,000-square-foot, 115-year-old building at 200 Fifth Ave., will be YETI’s flagship store in New York City and 20th nationwide. Ian Rice of SCG Retail and Jordan Cohn of Ripco Real Estate represented the tenant in the lease negotiations. Alan Schmerzler and Steven Soutendijk of Cushman & Wakefield represented the landlord, Boston Properties (NYSE: BXP).

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135-E.-47th-St.-Manhattan
LoansMultifamilyNew YorkNortheast

JLL Arranges $185M in Financing for Midtown East Condo Tower

by Taylor Williams

NEW YORK CITY — JLL has arranged $185 million in condo inventory financing for Monogram, a 181-unit tower located at 135 E. 47th St. in Manhattan’s Midtown East neighborhood. Monogram consists of studio, one- and two-bedroom condos, four penthouses, 9,200 square feet of amenity space, including a 3,500-square-foot rooftop lounge, and 2,435 square feet of commercial space. Scott Aiese led the JLL team that arranged the financing through New York-based Kriss Capital on behalf of the borrower, Navigation Capital Partners.

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Manchester-by-the-Sea-Life-Sciences
AcquisitionsDevelopmentLife SciencesMassachusettsNortheast

Cell Signaling Technology Buys 50-Acre Site in Metro Boston, Plans Life Sciences Redevelopment

by Taylor Williams

MANCHESTER-BY-THE-SEA, MASS. — Massachusetts-based life sciences company Cell Signaling Technology has purchased a 50-acre site in Manchester-by-the-Sea, about 30 miles northeast of Boston, with plans to undertake a life sciences redevelopment. Designed by architecture firm HGA, the project will convert the site of an abandoned rock quarry into a research and innovation campus that will feature 250,000 square feet of space. Ten acres of the site are occupied by the Manchester Athletic Club. A construction timeline for the project, which will be developed in phases, is still being finalized.

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