NEW YORK CITY — Ambassador Theatre Group has signed an office lease expansion and extension in Midtown Manhattan. The theater operator is essentially doubling its footprint to 19,380 square feet on the fifth floor of the 13-story building at 630 Ninth Ave., which is known locally as The Film Center Building. Rocco Laginestra of CBRE represented the tenant in the lease negotiations. Matthew Mandell of GFP Real Estate represented the landlord on an internal basis.
BOSTON — Oxford Properties Group has completed the acquisition of One Marina Park Drive, a Class A office tower located in the Seaport District of Boston. Oxford purchased the property from New York City-based Clarion Partners for $435 million. Clarion Partners reportedly acquired the tower in December 2019 for $482 million. Coleman Benedict, Riaz Cassum, Scott Carpenter, Patrick Shields, Chris Barry and David Mega of JLL represented the seller in the transaction. Situated within the Fan Pier waterfront mixed-used development, One Marina Park Drive totals approximately 500,000 square feet across 18 stories. The LEED Gold-certified property was 99 percent leased at the time of sale to tenants in the venture capital, legal and financial services sectors. Boston Business Journal reports the office tower’s tenant roster includes MassMutual, Fish & Richardson, Gunderson Dettmer, Battery Ventures and The Fallon Co., which originally developed One Marina Park Drive in 2010 According to the company, this marks Oxford’s first acquisition of a stabilized core office asset in the United States in almost a decade. The company’s Class A office holdings in Boston now totals 3.2 million square feet. Since the beginning of 2025, the Toronto-based firm has deployed roughly $2 billion into the office sector globally. This …
YORK, PENN. — CBL Properties, along with its 50 percent joint venture partner, has sold York Town Center, an open-air regional retail center located in the southern Pennsylvania town of York for $50.6 million. The transaction was completed at an 8.5 percent capitalization rate. York Town Center features 14 stores, including DICK’S Sporting Goods, Boot Barn, Best Buy and ULTA, and spans more than 297,000 square feet. The buyer was not disclosed.
LONG BRANCH, N.J. — Local brokerage firm ICON Real Estate Advisors has arranged the $18 million sale of The Pavilion, a 46-unit apartment building in the Northern New Jersey community of Long Branch. The five-story building was completed in 2021. According to RentCafé, units comes in one-, two- and three-bedroom floor plans, and amenities include a courtyard and outdoor grilling and dining stations. The seller and developer, Jebara Partners, sold The Pavilion to Henshaw Realty, which acquired the property via a 1031 exchange. ICON represented both parties in the transaction.
WEST NEW YORK, N.J. — Marcus & Millichap has brokered the $9.5 million sale of Coviello Plaza, a three-story, 27,100-square-foot retail building in West New York, located across the Hudson River from Manhattan. CVS anchors Coviello Plaza, which was originally built in 1988 and houses 11 units. Devin Perez, Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
PITTSBURGH — Buchanan Ingersoll & Rooney has extended its 115,335-square-foot office lease in downtown Pittsburgh. The law firm will remain the anchor tenant at the Union Trust Building, a historic property located at 501 Grant St. Gerry McLaughlin of Newmark represented the tenant in the lease negotiations. Jason Stewart and Jackie Bezek of JLL represented the landlord, Boston-based owner-operator The Davis Cos., which acquired the building in 2017 and subsequently executed a $100 million redevelopment.
NEW YORK CITY — Centerbridge Partners has signed a 75,826-square-foot office lease in Midtown Manhattan. The investment management firm will relocate from a nearby location to the entire 22nd and 23rd floors of 345 Park Avenue, a 1.9 million-square-foot building that was constructed in 1969, via a 15-year lease. Robert Steinman represented the landlord, Rudin, in the lease negotiations on an internal basis. Neil Goldmacher, Brian Goldman and Matthew Lorberbaum of Newmark represented Centerbridge.
NEW YORK CITY — Locally based owner-operator Fetner Properties has completed the renovation of The Arbor, a 127-unit apartment complex in The Bronx. The Arbor, which was originally constructed in 2006 in the borough’s Riverdale neighborhood, consists of two nine-story buildings that house one-, two-, three- and four-bedroom units. Post-renovation, residences feature stainless steel appliances and in-unit washers and dryers, as well as new kitchen counters, cabinets, backsplashes and fixtures. Fetner also reimagined the building’s lobby and upgraded amenity spaces, which include a fitness center, resident lounge, children’s playroom and a courtyard.
NEWARK, N.J. — Drew Capital, a New Jersey-based mortgage banking firm, has arranged a $16.2 million construction loan for Central Pointe, a 77-unit multifamily project that will be located in Newark’s University Heights neighborhood. Designed by INOA Architecture, Central Pointe will have six studios, 29 one-bedroom units and 42 two-bedroom residences, with 16 apartments designated as affordable housing. Amenities will include a fitness center, coworking lounge, communal spaces and a rooftop garden. Trevian Capital provided the loan to the developer, Newark-based Giga Holdings, which expects to complete the project next summer. Akiva Drew led the debt placement effort for Drew Capital
HORSEHEADS, N.Y. — New York-based investment firm United Properties Corp. has purchased Southern Tier Crossing, an 84,000-square-foot shopping center in Horseheads, located in the southern-central part of the state. The sales price was $13.5 million. According to information on the website of Nashville-based brokerage firm Matthews, the center was built in 2008 and is home to tenants such as Burlington, PetSmart, ULTA and Five Below. The seller was not disclosed.