NEW YORK CITY — Cushman & Wakefield has arranged a 13,671-square-foot office lease at 300 Park Avenue South in Midtown Manhattan. Rockrose Development owns the 14-story building, which was originally constructed in 1910. Josh Kuriloff, Matthias Li, Drew Braver, Remy Liebersohn and Heather Thomas of Cushman & Wakefield, along with internal agent Rob Fink, represented the landlord in the lease negotiations. Greg Wang, Christine Colley and Thomas Swartz of JLL represented the tenant, e-commerce firm 1stDibs.
LONG BRANCH, N.J. — New York City-based developer Kushner has broken ground on a $130 million multifamily project in the Northern New Jersey community of Long Branch. Designed by Minno + Wasko Architects & Planners, the property will comprise two four-story buildings that will house 299 units in studio, one-, two- and three-bedroom floor plans. Amenities will include a pool, fitness center, coworking lounge, golf simulator, rooftop terraces, social lounges, pet spa, a children’s playroom and outdoor grilling and dining stations. A SuperFresh grocery market and neighborhood café will anchor the property’s retail component. The first units are expected to be available for occupancy in late 2025. Madison Realty Capital provided an $85 million construction loan for the project, and Unity Capital supplied $15 million in mezzanine financing.
NEW YORK CITY — San Francisco-based Terreno Realty Corp. (NYSE: TRE) has acquired a 24,000-square-foot industrial building in the East Williamsburg neighborhood of Brooklyn for $12 million. The site at 181 Lombardy St. spans about three-quarters of an acre, and the facility, which is currently vacant, features one dock-high door, one grade-level loading position and parking for 10 cars. The seller was not disclosed.
NEW YORK CITY — Locally based brokerage firm GFI Realty has arranged the $4.8 million sale of a 48-unit apartment building in the Crown Heights neighborhood of Brooklyn. The six-story building was constructed in 1930 and consists of 20 one-bedroom units, 22 two-bedroom apartments, five three-bedroom residences and one four-bedroom unit. Matthew Sparks of GFI Realty represented the seller, a limited liability company, in the transaction. Josh Orlander, also with GFI, represented the buyer, a private investor.
LYNBROOK, N.Y. — Northwell Health, the state’s largest provider, has signed a 23,021-square-foot, full-building renewal on Long Island. Locally based firm Simone Development Cos. owns the three-story building at 733 Sunrise Highway in Lynbrook. The facility is home to physicians specializing in fields such as family medicine, cardiology, endocrinology, gastroenterology, pulmonology, urology and rheumatology. No third-party brokers were involved in the lease negotiations.
NEW YORK CITY — Avison Young has negotiated a seven-year, 7,364-square-foot office lease at 551 Fifth Avenue in Midtown Manhattan. The Feil Organization owns the property, which was originally built in 1927 and is known locally as The Fred F. French Building. Martin Cottingham, Patrick Steffens and Alexis Odgers of Avison Young represented the tenant, BOND Civil & Utility Construction, in the lease negotiations. Andrew Wiener, Kevin Driscoll and Henry Korzec represented Feil on an internal basis.
CAMBRIDGE, MASS. — Boston Properties (NYSE: BXP) has completed the previously announced sale of its 45 percent interest in a 577,000-square-foot life sciences development in Cambridge. The buyer was Norges Bank Investment Management. Construction is underway on the 16-story building, which is located at 290 Binney St. in the Kendall Square neighborhood and is fully preleased to AstraZeneca. Delivery is slated for spring 2026.
MALTA, N.Y. — Florida-based LeCesse Development Corp. has completed GrandeVille at Malta, a 189-unit multifamily project located about 30 miles north of Albany in Upstate New York. The project represents Phase II of a larger development, the initial phase of which comprised 292 units. Phase II residences are spread across three buildings and come in one-, two- and three-bedroom formats. Units are furnished with stainless steel appliances, quartz countertops, custom cabinetry, walk-in closets and individual washers and dryers. Amenities include an indoor pool, clubhouse, fitness center, game room, business lounge and a spa. Project partners included James Fahy Design Associates, general contractor Platinum-LeChase, Lansing Engineering and Five Star Bank. Rents start at about $1,700 per month for a one-bedroom apartment.
NEW YORK CITY — Clune Construction will relocate its Manhattan headquarters office from 405 Lexington Avenue to 655 Third Avenue. The national general contracting firm will occupy the entire third floor of the building via a 23,437-square-foot lease. John Mambrino and Nicholas Farmakis of Savills represented Clune in the lease negotiations. Tom Bow, Ashlea Aaron and Bailey Caliban represented the landlord, The Durst Organization, on an internal basis. The deal brings the building to 85 percent occupancy. A timeline for occupancy was not disclosed.
THORNWOOD, N.Y. — CBRE has negotiated a 16,750-square-foot industrial lease in Thornwood, about 30 miles north of Manhattan. William Cuddy of CBRE represented the tenant, Healy Electric Contracting, in the lease negotiations. Michael Rao and Frank Rao of New York Commercial Realty Group (NYCRG) represented the locally based landlord, Simone Development Cos. The 120,000-square-foot building, which sits on 12 acres at 1 Zeiss Drive and features clear heights of 14 to 18 feet, is also partially leased to The Home Depot.