Northeast

Slate Property Group Receives $97M Loan for Refinancing of Queens Apartment Building

by Taylor Williams March 8, 2024

NEW YORK CITY — Slate Property Group has received a $97 million loan for the refinancing of The Yellowstone, a 166-unit multifamily project located in the Forest Hills area of Queens. Designed by Aufgang Architects, the newly built property offers one- and two-bedroom units that range in size from 475 to 950 square feet and feature stainless steel appliances, granite countertops and backsplashes, as well as individual washers and dryers. Select units also have private balconies. Amenities include a fitness center, lounges and a rooftop terrace, and the building’s retail space houses a Trader Joe’s grocery store. Daniel Fromm of Newmark arranged the five-year, fixed-rate loan through Apollo Global Management on behalf of Slate.

March 8, 2024

Leasing Activity New Jersey Northeast Office

The Children’s Place Signs 120,000 SF Office Lease Renewal in Secaucus, New Jersey

by Taylor Williams March 8, 2024

SECAUCUS, N.J. — Kids apparel retailer The Children’s Place has signed a 120,000-square-foot office lease renewal at 500 Plaza Drive in the Northern New Jersey community of Secaucus. The Children’s Place has been a longtime tenant at the 466,496-square-foot building, which is located within the 200-acre Harmon Meadow campus. David Stifelman and Timothy Greiner of JLL represented the landlord, Manulife Investment Management, in the lease negotiations. David Goldstein and Gregg Najarian of Savills represented the tenant.

March 8, 2024

Acquisitions Multifamily New York Northeast

Alchemy Ventures Buys Manhattan Multifamily Property for $11.2M

by Taylor Williams March 8, 2024

NEW YORK CITY — Alchemy Ventures has purchased a 36-unit multifamily property located at 310 W. 80th St. on Manhattan’s Upper West Side for $11.2 million. The six-story building was originally constructed in 1910 and houses an equal mix of studios and one-bedroom apartments. John Stewart and Dylan Torey of Marcus & Millichap represented the seller, an undisclosed private investor, in the transaction and procured Alchemy Ventures as the buyer. ax Herzog and Marko Kazanjian of Institutional Property Advisors, a division of Marcus & Millichap, arranged acquisition financing for the deal.

March 8, 2024

Acquisitions Connecticut Multifamily Northeast

NEPCG Negotiates Sale of 52-Unit Apartment Portfolio in Hartford, Connecticut

by Taylor Williams March 8, 2024

HARTFORD, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a portfolio of two apartment buildings totaling 52 units in Hartford. The building at 17 Marshall St. features 12 studios and 13 one-bedroom units, and the building at 50 Gillett St. houses 16 one-bedrooms, eight two-bedrooms and three commercial spaces. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 8, 2024

Acquisitions Multifamily New York Northeast

Rosewood Realty Arranges $2.4M Sale of Brooklyn Multifamily Building

by Taylor Williams March 8, 2024

NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $2.4 million sale of a 27-unit multifamily building at 290 E. 53rd St. in Brooklyn’s East Flatbush area. The four-story walk-up building was originally constructed in 1920. Aaron Jungreis, Ben Khakshoor and Eli Shayestehpour of Rosewood represented the seller, New York-based investment firm Barberry Rose Management, in the transaction and procured the buyer, private investor Mike Kim.

March 8, 2024

Acquisitions Massachusetts Multifamily Northeast

JLL Arranges Recapitalization of 36-Story Boston Apartment Tower

by Taylor Williams March 7, 2024

BOSTON — JLL has arranged the recapitalization of The Sudbury, a 36-story apartment tower located within the Bulfinch Crossing development in downtown Boston that was completed in 2020. Units come in one-, two- and three-bedroom floor plans and have an average size of 855 square feet. The Sudbury also houses 55 condos. Amenities include a pool, fitness center, golf simulator, rooftop terrace, children’s playroom, coworking space and a private dining room. Riaz Cassum, Roberto Casas, Martha Nay, Kellie Coveney, Madeline Joyce and Ari Bogen of JLL represented the owner, a partnership between National Real Estate Investors and HYM Investment Group, in the transaction. The team also procured the new equity partner, Carmel Partners.

March 7, 2024

Acquisitions Northeast Pennsylvania Retail

Marcus & Millichap Brokers $12.5M Sale of Lehigh Valley Shopping Center

by Taylor Williams March 7, 2024

ALLENTOWN, PA. — Marcus & Millichap has brokered the $12.5 million sale of Parkway Shopping Center, a 133,314-square-foot retail center in the Lehigh Valley city of Allentown. The center was built in 1959 and is home to tenants such as Subway, Dollar Tree, IHOP and State Farm Insurance. Colin Reder, Derrick Dougherty and Scott Woodard of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the deal. Neil Campbell and Ian Nordfors of Institutional Property Advisors, a division of Marcus & Millichap, arranged acquisition financing on behalf of the buyer.

March 7, 2024

Acquisitions Connecticut Multifamily Northeast

NEPCG Negotiates Sale of 60-Unit Apartment Portfolio in Hartford, Connecticut

by Taylor Williams March 7, 2024

HARTFORD, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a portfolio of four apartment buildings totaling 60 units in Hartford. The buildings are located at 125–131 Washington St. and 338-342 Jefferson St. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction. The sales price was also not disclosed.

March 7, 2024

Leasing Activity New York Northeast Retail

Museum of Mathematics Signs 27,158 SF Retail Lease in Manhattan

by Taylor Williams March 7, 2024

NEW YORK CITY — The National Museum of Mathematics has signed a 27,158-square-foot retail lease for a temporary space at 225 Fifth Ave. in Manhattan’s NoMad area. The space previously housed a 24 Hour Fitness. The museum has been located at 11 E. 26th St. since opening in 2012. Lindsay Ornstein, Stephen Powers, Jake Cinti and Julia Fish of OPEN Impact Real Estate represented the tenant in the lease negotiations. Peter Whitenack of Newmark represented the undisclosed landlord.

March 7, 2024

Leasing Activity New York Northeast Retail

Whole Foods to Debut First ‘Quick-Shop’ Store in Manhattan

by Taylor Williams March 7, 2024

NEW YORK CITY — Whole Foods Market will debut its new “quick-shop” store format at 1175 Third Ave. on Manhattan’s Upper East Side later this year. At 7,000 to 14,000 square feet, these formats are between 25 to 50 percent of the typical 40,000-square-foot Whole Foods store. The store will also be the first of the Austin-based grocer’s 17 New York City locations to offer a Juice & Java coffee bar and fast-casual eatery.

March 7, 2024

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