Northeast

Silverman Group Breaks Ground on 62-Unit Multifamily Project in Short Hills, New Jersey

by Taylor Williams June 18, 2025

SHORT HILLS, N.J. — The Silverman Group, a New Jersey-based developer, has broken ground on The Estates at Short Hills, a 62-unit multifamily project in Northern New Jersey. Designed by Michels & Waldron Associates, the property will feature 10 one-bedroom units, 49 two-bedroom apartments and three three-bedroom residences. Amenities will include a rooftop terrace, outdoor courtyard, fitness center, resident lounge and game room, package and mail rooms and garage bike storage. The building will also house 10,000 square feet of medical office space on the ground floor. The first units are expected to be available for occupancy in early 2027.

June 18, 2025

Leasing Activity Life Sciences New York Northeast

Cresilon Signs 55,000 SF Life Sciences Lease Expansion at Industry City in Brooklyn

by Taylor Williams June 18, 2025

NEW YORK CITY — Biotechnology firm Cresilon has signed a 55,000-square-foot life sciences lease expansion at Industry City in Brooklyn’s Sunset Park area. Cresilon, which focuses on hemostatic technologies that improve wound care, is effectively doubling its headquarters footprint at the 6 million-square-foot mixed-use development via a 10-year deal. Josh Pernice of CBRE represented the tenant in the lease negotiations. Jeff Fein internally represented the landlord, a partnership between Belvedere Capital, Jamestown and Angelo Gordon.

June 18, 2025

Leasing Activity New York Northeast Office

CBRE Negotiates 15,000 SF Office Lease Expansion at 299 Park Avenue in Midtown Manhattan

by Taylor Williams June 18, 2025

NEW YORK CITY — CBRE has negotiated a 15,000-square-foot office lease expansion at 299 Park Avenue in Midtown Manhattan. The tenant, investment advisory firm One William Street Capital Management, now occupies about 45,000 square feet at the 1.2 million-square-foot building. Scott Gottlieb, Andrew Sussman, Ben Friedman and Lewis Gottlieb of CBRE represented the tenant in the lease negotiations. David Falk, Peter Shimkin, Andy Sachs and Eric Cagner of Newmark, along with internal agents Marc Packman and Clark Briffel, represented the landlord, Fisher Brothers.

June 18, 2025

Farmingdale-State-College-Computer-Sciences-Center.

Civic Development New York Northeast

Partnership Breaks Ground on $75M Academic Project in Farmingdale, New York

by Taylor Williams June 17, 2025

FARMINGDALE, N.Y. — A partnership between Empire State Development and the State University of New York (SUNY) has broken ground on a $75 million academic project in Farmingdale, located on Long Island. Designed by Urbahn Architects, the three-story, 52,000-square-foot building will be the new computer sciences facility for Farmingdale State College and will feature an 1,800-square-foot business incubator on the ground floor. The second floor will have six classrooms, a seminar room, conference room, faculty offices and administrative spaces. The third floor will include six computer labs and offices, and both the second and third floors will have student lounges that overlook the campus. Completion is slated for 2028.

June 17, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Negotiates Sale of 249-Unit Apartment Complex in Westborough, Massachusetts

by Taylor Williams June 17, 2025

WESTBOROUGH, MASS. — CBRE has negotiated the sale of Parc Westborough, a 249-unit apartment complex located about 35 miles west of Boston. The property, which was constructed in 2016, consists of four residential buildings and a freestanding clubhouse. Residences feature one-, two- and three-bedroom floor plans and have an average size of 1,008 square feet. Amenities include a pool, fitness center and outdoor grilling and dining stations. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, Utah-based Cottonwood Residential, in the transaction. CBRE also procured the buyer, an undisclosed institutional investor.

June 17, 2025

Development Massachusetts Multifamily Northeast

Nauset Construction Completes Phase II of Multifamily Conversion Project in Downtown Boston

by Taylor Williams June 17, 2025

BOSTON — Nauset Construction has completed Phase II of The Conrad, a project in downtown Boston that is a multifamily conversion of the former Conrad & Chandler’s department store. Designed by Schopf Design Associates (Phase I) and Golden Architects (Phase II) and owned by 3MJ Realty, The Conrad comprises 36 residential units and 7,000 square feet of retail space. Phase II included constructing four one-bedroom and five two-bedroom units on the second floor, renovating the first-floor retail space; installing a new roofing system, upgrading the elevator cab and replacing existing windows.

June 17, 2025

Acquisitions Multifamily New York Northeast

Marcus & Millichap Brokers $7M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams June 17, 2025

NEW YORK CITY — Marcus & Millichap has brokered the $7 million sale of an 8,282-square-foot multifamily development site in Brooklyn’s Prospect Heights neighborhood. The site at 918 Atlantic Ave. currently houses a car wash and can support 59,630 buildable square feet as of right and up to 74,538 buildable square feet with inclusionary housing bonus. Andrew Bronsteen, Shaun Riney and Jason Farese of Marcus & Millichap represented the seller and procured the buyer, both of which were local private investors, in the transaction.

June 17, 2025

Leasing Activity New York Northeast Office

Foster Garvey Signs 11,445 SF Office Lease at One Seaport Plaza in Lower Manhattan

by Taylor Williams June 17, 2025

NEW YORK CITY — Foster Garvey PC has signed a 10-year, 11,445-square-foot office lease at One Seaport Plaza in Lower Manhattan. The law firm will relocate from 100 Wall Steet to the ninth floor of the 1.1 million-square-foot building, which is located at 199 Water St., beginning this fall. Nicholas Farmakis and Steve London of Savills represented Foster Garvey in the lease negotiations. John Cefaly, Ethan Silverstein, Stephen Bellwood and Rachel Rosenfeld of Cushman & Wakefield, along with internal agents Brett Greenberg and Adam Rappaport, represented the landlord, Jack Resnick & Sons.

June 17, 2025

Loans Multifamily New York Northeast

JLL Arranges $80M Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams June 16, 2025

NEW YORK CITY — JLL has arranged an $80 million loan for the refinancing of a 152-unit apartment building in Manhattan’s West Village neighborhood. The 10-story, freshly renovated building at 110 Horatio St. houses 87 studios, 42 one-bedroom residences,18 two-bedroom units and five penthouses. Amenities include a landscaped roof terrace, resident lounge, onsite laundry facility and a fitness center. Geoff Goldstein, Steven Klein and Chris Pratt of JLL arranged the 10-year, fixed-rate loan through investment manager AXA IM Alts on behalf of the borrower, an affiliate of Rockrose Development. The building was approximately 99 percent occupied at the time of the loan closing.

June 16, 2025

Development Industrial Massachusetts Northeast

Marcus Partners Completes 430,000 SF Build-to-Suit Industrial Project in Amesbury, Massachusetts

by Taylor Williams June 16, 2025

AMESBURY, MASS. — Regional developer Marcus Partners has completed a 430,000-square-foot industrial project in Amesbury, located north of Boston, that is a build-to-suit for air conditioning contractor Munters. The eco-friendly facility houses Munters’ desiccant dehumidification products and services and other climate control solutions for the North American market. About 350 people can work at the facility, which includes spaces for manufacturing, research and development, sales, service and administration.

June 16, 2025

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