Northeast

Biddle Real Estate, PCD Provide Updates on 70-Acre Mixed-Use Project in Sleepy Hollow, New York

by Taylor Williams September 15, 2023

SLEEPY HOLLOW, N.Y. — A partnership between Biddle Real Estate Ventures and PCD Development has provided updates on Edge-on-Hudson, a 70-acre mixed-use project in Sleepy Hollow, about 30 miles north of New York City. The latest and second phase of the waterfront development will include a 100-unit condo building that will be known as The Daymark, a 90-unit townhome complex by Sun Homes and a new 30,000-square-foot retail space that is preleased to DeCicco & Sons Market. The development team is also working on plans for a medical office building as well as additional parkland and open green space. The first phase of Edge-on-Hudson delivered a mix of condos, townhomes and apartments, the overwhelming majority of which have now been sold or leased.

September 15, 2023

Acquisitions Hospitality New Jersey Northeast

Berkadia Negotiates Sale of 131-Room Hotel in Eatontown, New Jersey

by Taylor Williams September 15, 2023

EATONTOWN, N.J. — Berkadia has negotiated the sale of Homewood Suites Eatontown, a 131-room hotel in Northern New Jersey. The hotel was originally constructed in 2004 and was rebranded from the Staybridge Suites flag in 2016. Amenities include an outdoor pool, fitness center, two meeting rooms and a grilling area. Dan Hawkins and Jake Pietras of Berkadia represented the seller, an entity doing business as Jersey Shore Hotel Partners LLC, in the transaction. Highline Hospitality Partners purchased the asset for an undisclosed price.

September 15, 2023

Acquisitions Industrial Northeast Pennsylvania

Venture One Acquires 61,488 SF Industrial Building in Bristol, Pennsylvania

by Taylor Williams September 15, 2023

BRISTOL, PA. — Chicago-based investment firm Venture One Real Estate has acquired a 61,488-square-foot industrial building in Bristol, a northeastern suburb of Pennsylvania. Constructed in 1988, the single-tenant building is situated within Keystone Industrial Park and features a clear height of 20 feet, 11 exterior docks, one drive-in door and 5,331 square feet of office space. The seller was not disclosed. The building was leased on a short-term basis at the time of sale. Cushman & Wakefield will handle future leasing initiatives.

September 15, 2023

Leasing Activity New York Northeast Office

Morgan Properties Opens New 17,000 SF Office in Rochester Area

by Taylor Williams September 15, 2023

VICTOR, N.Y. — Multifamily developer Morgan Properties has relocated its upstate New York office to a 17,000-square-foot space within High Point Office Park in Victor, located about 15 miles south of Rochester. The space can accommodate about 80 employees and features a break room/kitchen, private offices and workstations, conference and training rooms, meeting lounge and wellness room. Morgan Properties also has an office in South Florida in addition to its headquarters in metro Philadelphia.

September 15, 2023

Leasing Activity New York Northeast Office

Genius Sports Signs 11,870 SF Office Lease at 825 Third Avenue in Manhattan

by Taylor Williams September 15, 2023

NEW YORK CITY — Genius Sports, which provides data management and video streaming services to sports leagues, bookmakers and media companies, has signed an 11,870-square-foot office lease at 825 Third Avenue in Manhattan. The space spans the entire 26th floor. The 530,000-square-foot building recently underwent a $150 million capital improvement program. Joshua Berg and A.J. Dorn of Newmark represented Genius Sports in the lease negotiations. Tom Bow, Ashlea Aaron, Lauren Ferrentino and Bailey Caliban represented the landlord, The Durst Organization, on an internal basis.

September 15, 2023

Acquisitions Connecticut Northeast Office

CBRE Arranges $15.5M Sale of Office Building in Greenwich, Connecticut

by Taylor Williams September 14, 2023

GREENWICH, CONN. — CBRE has arranged the $15.5 million sale of a 43,985-square-foot boutique office building in the southern coastal Connecticut city of Greenwich. Jeffrey Dunne, Steven Bardsley, Travis Langer and Daniel Blumenkrantz of CBRE represented the seller, an entity managed by Collins Capital Partners LLC, in the transaction. The team also procured the buyer, HBN 53 Forest LLC, which is managed by regional owner HB Nitkin. The building was 82 percent leased at the time of sale.

September 14, 2023

Affordable Housing Development Multifamily New Jersey Northeast

Arc Building Partners, Claremont Complete 60,000 SF Supportive Housing Project in Jersey City

by Taylor Williams September 14, 2023

JERSEY CITY, N.J. — Arc Building Partners and Claremont Development have completed The St. Lucy’s Complex, a 60,000-square-foot supportive housing project in Jersey City. The newly expanded campus features 150 beds for individuals who are homeless; 14 residential units for individuals living with HIV/AIDS; five three-bedroom permanent supportive housing units for families; 15 permanent affordable housing studio apartments; a daily drop-in area for nonresidents needing a meal, shower or laundry; and onsite social services programs. The project took roughly two years to construct.

September 14, 2023

Affordable Housing Development Multifamily New Jersey Northeast

Prime City Breaks Ground on Two Affordable Housing Projects in Orange, New Jersey

by Taylor Williams September 14, 2023

ORANGE, N.J. — New Jersey-based developer Prime City has broken ground on two affordable housing projects in the Northern New Jersey community of Orange. The projects at 150 and 151 Taylor St. will consist of four one-bedroom townhomes averaging 1,100 square feet and a nine-building complex, respectively. Delivery is slated for 2025. Information on specific income restrictions was not disclosed.

September 14, 2023

Loans Multifamily New York Northeast

Bayport Funding Provides $4M Acquisition, Construction Loan for Queens Apartment Project

by Taylor Williams September 14, 2023

NEW YORK CITY — New York-based Bayport Funding has provided a $4 million loan for the acquisition and construction of a 12-unit apartment project in the Ozone Park area of Queens. The 10,000-square-foot project will include 1,400 square feet of retail space, as well as onsite parking and a side yard. The name of the borrower and a tentative construction timeline were not disclosed.

September 14, 2023

Leasing Activity New York Northeast Office

Corporation for Supportive Housing Signs 10,570 SF Office Lease at 55 Broadway in Manhattan

by Taylor Williams September 14, 2023

NEW YORK CITY — The Corporation for Supportive Housing has signed a 10,570-square-foot, 11-year office lease at 55 Broadway, a 363,378-square-foot building in Manhattan. The organization will occupy the entire 10th floor of the 32-story building. Aron Schreier and Jason Kroeger of Cushman & Wakefield represented the tenant in the lease negotiations. Brad Gerla, Jonathan Cope and Hayden Pascal of CBRE represented the landlord, Harbor Group International.

September 14, 2023

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