Northeast

Procaccianti Cos. to Develop 91-Room Hotel in Newport, Rhode Island

by Taylor Williams July 10, 2025

NEWPORT, R.I. — Locally based landlord Procaccianti Cos. will develop a 91-room hotel in the coastal Rhode Island city of Newport. TPG Hotels & Resorts will operate the property as The Bellevue Hotel, which is part of its INTERA Collection family of brands. Plans for the project call for multiple food-and-beverage venues, spa and wellness facilities and underground parking to expand the street-level pedestrian experience. Lastly, the building’s three-story structure will incorporate Juliet balconies, with interior rooms overlooking the garden. Procaccianti has received all necessary permit and approvals, and construction is set to begin late this year and to be complete in early 2027.

July 10, 2025

Development Industrial New Jersey Northeast

Turnbridge Equities Begins $12M Repositioning of Northern New Jersey Industrial Complex

by Taylor Williams July 10, 2025

BAYONNE, N.J. — Turnbridge Equities, an investment firm with four offices across the country, has begun the $12 million repositioning of Bayonne Distribution Center, a 613,129-square-foot industrial complex in Northern New Jersey. The property consists of three buildings that range in size from 18,748 to 433,204 square feet and are situated on an 18-acre site that includes 2.3 acres of industrial outdoor storage space. Turnbridge acquired the property earlier this year and has tapped NAI James E. Hanson as the leasing agent.

July 10, 2025

Leasing Activity New York Northeast Office

TickPick Signs 17,000 SF Office Headquarters Lease at One Penn Plaza in Midtown Manhattan

by Taylor Williams July 10, 2025

NEW YORK CITY — TickPick, an online platform for buying and selling of fee-free event tickets, has signed a 17,000-square-foot office headquarters lease at One Penn Plaza in Midtown Manhattan. Alec Kirschner of Vestian, a global brokerage firm specializing in tenant representation, represented TickPick in the lease negotiations. Vornado Realty Trust owns the building and was self-represented.

July 10, 2025

Troy Marek Regions Real Estate Capital Markets quote from article

Content Partner Features Leasing Activity Loans Midwest Multifamily Northeast Regions Real Estate Capital Markets Seniors Housing Southeast Texas Western

Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers

by Sarah Daniels July 10, 2025

By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amid some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing. Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …

July 10, 2025

Loans New York Northeast Office

Tishman Speyer Receives $385M Refinancing of Midtown Manhattan Office Building

by Taylor Williams July 9, 2025

NEW YORK CITY — Local real estate giant Tishman Speyer has received a $385 million refinancing for 300 Park Avenue, a 25-story office building in Midtown Manhattan. Originally built in 1955, 300 Park Avenue totals 770,000 square feet and was fully leased at the time of the loan closing. A consortium of lenders led by J.P. Morgan Chase and including Deutsche Bank Securities and Morgan Stanley provided a $330 million CMBS loan with a fixed interest rate of 5.44 percent. Macquarie Capital Principal Finance provided $55 million in mezzanine financing to complete the capital stack.

July 9, 2025

Loans Multifamily New York Northeast

M&T Realty Capital Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams July 9, 2025

NEW YORK CITY — M&T Realty Capital Corp. has provided a $50 million Freddie Mac loan for the refinancing of The Alyn, a 56-unit apartment building in Manhattan’s Carnegie Hill neighborhood. Completed in 2019, The Alyn offers one-, two-, three-, four- and five-bedroom units and amenities such as a lounge, wellness center and a children’s playroom. Robert Barry led the M&T team that provided the fixed-rate loan. The borrower was an affiliate of Gordon Property Group, a New York-based family office that was introduced to M&T through an existing client of Connor Preece, group manager at M&T Bank.

July 9, 2025

Acquisitions New Jersey Northeast Retail

Goldstein Group Negotiates $24M Sale of Central New Jersey Shopping Center

by Taylor Williams July 9, 2025

EDISON, N.J. — Locally based brokerage firm The Goldstein Group has negotiated the $24 million sale of the 120,000-square-foot Inman Grove Shopping Center in the Central New Jersey community of Edison. The center is home to tenants such as Taco Bell, Wells Fargo, Ivy Rehab, Planet Wings, Allstate, Dunkin’, CSL Plasma, Subway, UPS Store, Verizon, Kumon, Dairy Queen, Discovery Christian Montessori School and Vino Sandro Liquors. C.J. Huter, Lew Finkelstein, Marc Palestina and Roy Paret of The Goldstein Group represented the seller, Oak Grove Associates, in the transaction.

July 9, 2025

Acquisitions Industrial New York Northeast

Adirondack Capital Partners Arranges $16M Sale of Queens Industrial Complex

by Taylor Williams July 9, 2025

NEW YORK CITY — Regional brokerage firm Adirondack Capital Partners (ACP) has arranged the $16 million sale of a 36,000-square-foot industrial complex in the Long Island City area of Queens. Built in 1960, the two-story building at 11-40 Borden Ave. was fully leased at the time of sale to Distribution International, which specializes in construction supplies. Wickersham Realty sold the property to San Francisco-based Terreno Realty Corp. (NYSE: TRNO). Chad Sinsheimer of ACP brokered the deal, which traded at a cap rate of 4.4 percent, on behalf of both parties.

July 9, 2025

Leasing Activity New York Northeast Retail

Life Time to Open 52,000 SF Fitness Club at 10 Bryant in Midtown Manhattan

by Taylor Williams July 9, 2025

NEW YORK CITY — Life Time will open a 52,000-square-foot fitness club at 10 Bryant, a 30-story office building located at 452 Fifth Ave. in Midtown Manhattan. The facility will feature a cold plunge pool and a steam room, a spa with red light therapy service, coworking and library spaces, barre and yoga studios and personal training space. JLL represented the landlord, Property & Building Corp., in the lease negotiations.

July 9, 2025

Acquisitions Development Multifamily New Jersey Northeast

JLL Negotiates Sale of Multifamily Development Site in Kearny, New Jersey

by Taylor Williams July 8, 2025

KEARNY, N.J. — JLL has negotiated the sale of a multifamily development site in the Northern New Jersey community of Kearny that is fully approved for the development of 136 market-rate townhomes. The site is located at 55 Passaic Ave., adjacent to a community park that is also under construction. Jose Cruz, Ryan Robertson, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce of JLL represented the locally based seller, Russo Development, in the transaction. The buyer, PulteGroup Inc., will continue the development as Bridgeview by Pulte Homes.

July 8, 2025

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