Northeast

FilBen Group, RSF Partners Near Completion of $54M Assisted Living Facility in Montebello, New York

by Taylor Williams November 22, 2023

MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners is nearing completion of Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The site is located near Good Samaritan Hospital — Suffern, as well as numerous commercial establishments. The property will span 133,675 square feet and will feature one- and two-bedroom units with an average size of 500 square feet, as well as an array of entertainment- and wellness-based amenities. H2M Architects + Engineers designed the project, and McAlpine Contracting is handling construction. M&T Bank provided a $34.8 million construction loan for the project, completion of which is scheduled for next year.

November 22, 2023

Industrial Leasing Activity Northeast Pennsylvania

Middleby Residential Signs 204,269 SF Industrial Lease in York, Pennsylvania

by Taylor Williams November 22, 2023

YORK, PA. — A division of home appliances and interior furnishings provider Middleby Residential has signed a 204,269-square-foot industrial lease in York, about 100 miles west of Philadelphia. Del Markward of Pennsylvania-based brokerage firm Markward Group represented the tenant in the lease negotiations. Cushman & Wakefield represented the landlord, an affiliate of Atlanta-based Core5 Industrial Partners. Brad Pope of Hailey Real Estate also assisted in closing the deal as a referring consultant.

November 22, 2023

Loans New York Northeast Office

Largo Capital Arranges $11.1M Loan for Refinancing of Buffalo Office Building

by Taylor Williams November 22, 2023

BUFFALO, N.Y. — Locally based financial intermediary Largo Capital has arranged an $11.1 million first mortgage loan for the refinancing of a 150,000-square-foot office building in Buffalo. Jack Phillips of Largo Capital arranged the financing on behalf of the undisclosed buyer. The direct lender was not disclosed. The building was fully leased at the time of the loan closing.

November 22, 2023

Civic Development Massachusetts Northeast

W.T. Rich Breaks Ground on 17,000 SF Academic Building in Marlborough, Massachusetts

by Taylor Williams November 22, 2023

MARLBOROUGH, MASS. — Locally based general contractor and construction management firm W.T. Rich has broken ground on a 17,000-square-foot academic building in the western Boston suburb of Marlborough. Designed by Finegold Alexander Architects, the project is a build-to-suit for Advanced Math & Science Academy Charter School and will house classroom and lab space. A completion date was not disclosed.

November 22, 2023

Healthcare Leasing Activity New York Northeast

BCHN to Open 11,000 SF Healthcare Facility in The Bronx

by Taylor Williams November 22, 2023

NEW YORK CITY — Bronx Community Health Network (BCHN) will open an 11,000-square-foot healthcare facility at 3763 White Plains Road. The two-story facility will offer outpatient medical, dental and behavioral health services. The opening is set for summer 2024. Project partners include DIGroupArchitecture, New York Engineers and Denham Wolf Real Estate Services.

November 22, 2023

Loans Massachusetts Multifamily Northeast

Cottonwood Group Provides $240M Loan for Refinancing for Multifamily Tower in Boston’s Seaport District

by Taylor Williams November 21, 2023

BOSTON — Cottonwood Group, a Los Angeles-based private equity real estate firm, has provided $240 million loan for the refinancing of the St. Regis Residences, a luxury multifamily tower in Boston’s Seaport District. Built in 2022, the 22-story waterfront building houses 114 residences with private balconies and amenities such as a pool, spa, fitness center, lounge, concierge services and an onsite restaurant. The borrower was Boston-based Cronin Development.

November 21, 2023

Development Massachusetts Multifamily Northeast

Toll Brothers Completes 190-Unit Apartment Complex in Medway, Massachusetts

by Taylor Williams November 21, 2023

MEDWAY, MASS. — Toll Brothers has completed Hathon, a 190-unit apartment complex in Medway, located southwest of Boston. Designed by Boston-based Cube3 Architects with interiors by Chicago-based Mary Cook Associates, Hathon offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Select units offer private balconies/patios. Amenities include a pool, game room, fitness center, playground, catering kitchen, coworking lounge and a rooftop deck. Rents start at $2,450 per month for a one-bedroom apartment.

November 21, 2023

Acquisitions Industrial New Hampshire Northeast

Marcus & Millichap Brokers $2.3M Sale of Industrial Flex Property in Bedford, New Hampshire

by Taylor Williams November 21, 2023

BEDFORD, N.H. — Marcus & Millichap has brokered the $2.3 million sale of a 21,043-square-foot industrial flex property located in the Southern New Hampshire community of Bedford. The facility was constructed on 3.2 acres in 1987, and the site includes 1.5 acres of undeveloped land for future expansion. Harrison Klein, Ben Scherman and Luigi Lessa of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction. The facility was fully leased to six tenants at the time of sale.

November 21, 2023

Leasing Activity New York Northeast Office Retail

Beechhurst Executive Suites Renews 6,936 SF Lease in Queens

by Taylor Williams November 21, 2023

NEW YORK CITY — Beechhurst Executive Suites has renewed its lease for 6,936 square feet on the second floor of Whitestone Plaza, a 62,000-square-foot urban community shopping center located on the north side of Queens. Randall Briskin represented the landlord, The Feil Organization, in the lease negotiations on an internal basis. The tenant was self-represented. Other tenants at Whitestone Plaza include CVS and North Shore Farms supermarket.

November 21, 2023

Leasing Activity New York Northeast Office

Law Firm Signs 5,835 SF Office Lease Expansion in Midtown Manhattan

by Taylor Williams November 21, 2023

NEW YORK CITY — Law firm Meltzer, Lippe, Goldstein & Breitstone LLP signed a 5,835-square-foot office lease expansion at 70 E. 55th St. in Midtown Manhattan. The lease term is 10.5 years. The 27-story, 154,000-square-foot building is known as Heron Tower and was originally constructed in 1985. Diana Biasotti, Kristen Morgan and Thomas Swartz of JLL represented the landlord in the lease negotiations. Nicholas Markel of Cresa represented the tenant.

November 21, 2023

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