BERKELEY HEIGHTS, N.J. — The Connell Co. will open a 25,000-square-foot fitness facility at The Park, the locally based developer’s 185-acre mixed-use redevelopment in the Northern New Jersey community of Berkeley Heights. The facility will be known as FIELDHOUSE and will offer fitness regimens such as Pilates, yoga and boxing. Members will also have access to a game room, a meditation room, nap and recovery rooms, a health bar and personal trainers and in-house nutritionists. The opening is slated for March.
NEW YORK CITY — French skincare company Caudalie Inc. has signed a 14,000-square-foot office lease at 381 Park Avenue South in Midtown Manhattan. Caudalie relocated from 70 W. 36th St. to a full floor at the 17-story, 228,000-square-foot building earlier this month. Jonathan Moss of M&M Retail Luxury Consulting Inc. represented the tenant in the lease negotiations. Robert Tunis, Kyle Berlinsky and Joseph Mangiacotti of Colliers represented the landlord, ATCO Properties & Management.
SWAMPSCOTT, MASS. — Regional developer and operator WinnCos. has received $69.1 million in financing for The Westcott, a 114-unit affordable housing project in Swampscott, a northeastern suburb of Boston. Units at The Westcott will come in studio, one-, two- and three-bedroom formats and will be reserved for renters earning between 30 and 110 percent of the area median income. The Massachusetts Executive Office of Housing & Livable Communities provided Low-Income Housing Tax Credit equity for the project. MassHousing provided bridge and permanent financing, and both the Swampscott Affordable Housing Trust and North Shore HOME Consortium contributed funds to the development. Construction is underway, with the first units expected to be available for occupancy next year.
NEW YORK CITY — CAMBA Housing Ventures has broken ground on Clarkson Avenue Estates, a 328-unit affordable housing project in Brooklyn. GZA GeoEnvironmental Inc. led the remediation efforts for the site at 329 Clarkson Ave., which most recently housed a parking facility operated by SUNY Downstate Medical Center. The nine-story building will offer one-, two- and three-bedroom units for renters earning up to 30, 40, 50 and 70 percent of the area median income. Half of the units will be reserved as supportive housing for formerly homeless or incarcerated individuals. Amenities will include community rooms, a computer room, basketball gym and onsite laundry facilities. The development will also feature 30,000 square feet for supportive facilities for initiatives such as workforce training, financial literacy, youth education and development and childcare. Delivery is slated for 2026.
ORANGE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $13.8 million sale of Wedgewood House, an 80-unit apartment complex located in the Northern New Jersey community of Orange. The garden-style, recently renovated complex was built on 1.8 acres in 1968 and houses studio, one- and two-bedroom units. Joni Sweetwood of Kislak represented the seller in the transaction. Daniel Lanni of Kislak represented the undisclosed buyer. Both parties requested anonymity.
LITTLE FERRY, N.J. — Launch Entertainment will open a 31,842-square-foot indoor trampoline park in the Northern New Jersey community of Little Ferry. The entertainment operator will backfill a space formerly occupied by grocer HMart within a 155,444-square-foot shopping center at 260 Bergen Turnpike. Marta Villa of CBRE represented the landlord, Bergen Ferry Associates LP, in the lease negotiations. Brian Wherty of Equity Retail Brokers represented Launch Entertainment.
ROSELAND, N.J. — Meisel Tuteur & Lewis has signed a 22,000-square-foot office lease in Roseland, about 25 miles west of Manhattan. The accounting and consulting firm is relocating from a nearby building to a built-out space on the second floor of a 220,000-square-foot building within Eisenhower Corporate Park. David Stifelman and Tim Greiner of JLL represented the tenant in the lease negotiations. Jeff Kolodkin of Newmark represented the undisclosed landlord.
ROCHESTER, N.Y. — A partnership between locally based owner-operator Conifer Realty and Community Preservation Partners (CPP) will renovate Andrews Terrace, a 526-unit affordable seniors housing complex in the upstate New York city of Rochester. Built in 1975, the waterfront property consists of two buildings that rise 19 and 22 stories and house one- and two-bedroom units for seniors age 62 and above and disabled residents. A partnership between KeyBank Community Development Lending & Investment and Goldman Sachs Asset Management provided $135.6 million in Low-Income Housing Tax Credit equity and $200 million in construction financing to fund renovations and preserve the property’s affordability status. All apartments will receive upgraded countertops, painting, appliances, fixtures and cabinets. Common areas, including the lobby, community room, management office, maintenance shop and parking garage, will be renovated with drywall repairs, painting, new flooring and HVAC upgrades as needed. There will also be several new outdoor additions to the community, including a community garden on the property’s terrace, grandparents’ playground, a seating and grilling area and bocce ball courts. Indoor amenities will include a fitness room, game room, reading nook and two community rooms with serve-in kitchens. New mailboxes with parcel boxes will also be installed. Lastly, …
TARRYTOWN, N.Y. — Signature Acquisitions has launched a renovation of the lobby, cafeteria and other common areas at Tarrytown Corporate Center, a 180,000-square-foot office building located on the northern outskirts of New York City.The regional owner-operator has also secured two lease renewals at the building: a 20,538-square-foot deal with coworking firm Regus and a 7,581-square-foot deal with office technology and IT firm Atlantic Tomorrow. Jeff Smith internally represented Signature Acquisitions in both sets of lease negotiations. Peter Dana, Jason Lee and Craig Ruof of Colliers represented Regus, and Harland Hollander of Savills represented Atlantic Tomorrow. Ownership has tapped JLL to lease the building following the completion of the capital improvement program.
ASHLAND, MASS. —JLL has arranged the recapitalization of the Residence at Valley Farm, an 80-unit seniors housing property located about 25 miles west of Boston in Ashland. LCB Senior Living developed the three-story facility on a 2.9-acre site in 2015. Under the terms of the recapitalization, LCB Senior Living will stay on as co-owner, while Blue Moon Capital Partners will replace Bridge Investment Group as the other owner. Jay Wagner, Rick Swartzand Jim Dooley led the JLL investment sales and advisory team on the deal.