Northeast

Fields Grade, Alpine Residential Begin Leasing 169-Unit Apartment Complex in Jersey City

by Taylor Williams December 1, 2023

JERSEY CITY, N.J. — A partnership between locally based developer Fields Grade and New York City-based Alpine Residential has begun leasing Atlas, a 169-unit apartment complex located at 270 Johnston Ave. in Jersey City. The 24-story building houses studio, one-, two- and three-bedroom units as well as 9,000 square feet of retail space. Ten units are reserved as affordable housing. Amenities include a pool, fitness center, coworking spaces, outdoor grilling and dining areas, communal kitchen and a game room. MHS Architecture designed the project, and KL Masters Construction Co. served as the general contractor. Rents start at roughly $2,700 per month for a studio apartment.

December 1, 2023

Acquisitions Hospitality Massachusetts Northeast

JLL Negotiates Sale of 128-Room Bayside Resort Hotel in Yarmouth, Massachusetts

by Taylor Williams December 1, 2023

YARMOUTH, MASS. — JLL has negotiated the sale of the 128-room Bayside Resort Hotel in Yarmouth, located at the base of Cape Cod. The hotel sits on a 3.9-acre site and offers amenities such as an indoor and outdoor pool, fitness center, family fun center and over 2,300 square feet of meeting and event space. Alan Suzuki, Matthew Enright and Emily Zhang of JLL represented the undisclosed seller in the transaction. The buyer was an entity doing business as Bayside Yarmouth LLC.

December 1, 2023

Acquisitions Industrial New Jersey Northeast

Transcontinental Steel Buys Northern New Jersey Industrial Property for $8.2M

by Taylor Williams December 1, 2023

PISCATAWAY, N.J. — Transcontinental Steel has purchased a 45,000-square-foot industrial property in the Northern New Jersey community of Piscataway for $8.2 million. The property at 201 11th St. is divided into three 15,000-square-foot units and features clear heights of 12.5 feet. Kyle Gerace, Robert DiLeo and Mathew DiLeo of NAI DiLeo-Bram represented the seller, Binsky Snyder, in the transaction and procured Transcontinental Steel as the buyer.

December 1, 2023

Acquisitions New Jersey Northeast Retail

Marcus & Millichap Brokers $3.5M Sale of Central New Jersey Retail Center

by Taylor Williams December 1, 2023

SOMERVILLE, N.J. — Marcus & Millichap has brokered the $3.5 million sale of Union Avenue Plaza, a 20,866-square-foot retail center located in the Central New Jersey community of Somerville. The center was fully leased to eight tenants at the time of sale, with the New Jersey Department of Motor Vehicles serving as the anchor. Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller, SNS Real Estate Investment Group, in the deal and procured an undisclosed individual/personal trust as the buyer.

December 1, 2023

Leasing Activity New York Northeast Retail

Fitness International Signs 36,500 SF Lease in Manhattan

by Taylor Williams December 1, 2023

NEW YORK CITY — Fitness International has signed a 36,500-square-foot lease at 59 Maiden Lane in Manhattan. Fitness International will open a Club Studio facility, which offers boutique fitness classes and amenities, at the property. David Abrams, Eliot Goldschmidt, Jeff Jacobson and Brandon Miller of masonre represented the landlord, AmTrust RE, in the lease negotiations. Chase Welles of The Shopping Center Group and John Kalamaras of RealSource Group represented the tenant.

December 1, 2023

Leasing Activity New York Northeast Office

CBRE Negotiates 132,000 SF Office Lease at 295 Fifth Avenue in Midtown Manhattan

by Taylor Williams November 30, 2023

NEW YORK CITY — CBRE has negotiated a 132,000-square-foot office lease at 295 Fifth Avenue in Midtown Manhattan. The tenant, global law firm Quinn Emanuel Urquhart & Sullivan, will relocate to floors eight through 10 of the 17-story, 700,000-square-foot structure, which is known locally as The Textile Building. The owner, a partnership between Tribeca Investment Group, PGIM Real Estate and Meadow Partners, recently completed a $350 million capital improvement program at the property. David Hollander, Peter Turchin, Mary Ann Tighe, Brett Shannon, Liz Lash and Hayden Pascal of CBRE represented ownership in the lease negotiations. Lewis Miller, Greg Maurer-Hollaender and Cara Chayet, also with CBRE, represented the tenant.

November 30, 2023

Acquisitions Multifamily New York Northeast

Rosewood Realty Arranges $10.7M Sale of Brooklyn Multifamily Portfolio

by Taylor Williams November 30, 2023

NEW YORK CITY — Locally based brokerage firm Rosewood Realty has arranged the $10.7 million sale of a portfolio of four multifamily buildings totaling 17 units in Brooklyn. The portfolio includes a five-unit building at 461 Lorimer St.; a four-unit building at 110 S. Second St.; a two-unit structure at 384 S. Second St.; and a six-unit property at 211 Johnson Ave. Each of the buildings rises three stories and was built between 1910 and 1920. Ben Khakshoor, Alex Fuchs, Aaron Jungreis and Eli Shayestehpour of Rosewood represented the buyer, Mendel Gold, and the seller, a private family, in the transaction.

November 30, 2023

Acquisitions Industrial Northeast Pennsylvania

Cushman & Wakefield Brokers $6.5M Sale of Industrial Building in Lewisburg, Pennsylvania

by Taylor Williams November 30, 2023

LEWISBURG, PA. — Cushman & Wakefield has brokered the $6.5 million sale of a 133,239-square-foot industrial building in Lewisburg, located north of Harrisburg in the central part of the Keystone State. The building features seven dock doors, a clear height of 21 feet and 13,239 square feet of office space. Gerry Blinebury, Brendan McGeary and Hunter Kessell of Cushman & Wakefield represented the seller, SK Realty, in the transaction. The buyer was an entity doing business as JasPinLin Lewisburg LLC.

November 30, 2023

Leasing Activity New Jersey Northeast Retail

The Container Store Opens 15,000 SF Shop in Princeton

by Taylor Williams November 30, 2023

PRINCETON, N.J. — The Container Store has opened a 15,000-square-foot shop at The Square at West Windsor in Princeton. The store is the retailer’s 100th nationally and sixth in New Jersey. Anchored by Lowe’s and Trader Joe’s, the 220,000-square-foot shopping center is also home to tenants such as Ethan Allen, Mattress Firm, Chipotle Mexican Grill, Starbucks and Fidelity Investments. Blake Shanaphy of JLL represented the tenant in the lease negotiations. Michael Gartenberg represented the landlord, New Jersey-based Garden Commercial, on an internal basis.

November 30, 2023

Leasing Activity New York Northeast Office

Marcum Asia Signs 8,851 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams November 30, 2023

NEW YORK CITY — Accounting firm Marcum Asia has signed an 8,851-square-foot office lease expansion at 7 Penn Plaza in Midtown Manhattan. The tenant now occupies a total of 14,870 square feet on the eighth floor at the 18-story, 357,000-square-foot building. Steve Kaplan of Norman Bobrow & Co. represented Marcum Asia in the lease negotiations. Andrew Wiener and David Turino represented the landlord, The Feil Organization, on an internal basis.

November 30, 2023

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