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Northeast

Stamford-Towers
AcquisitionsConnecticutNortheastOffice

CBRE Brokers Sale of 326,468 SF Office Complex in Stamford, Connecticut

by Taylor Williams

STAMFORD, CONN. — CBRE has brokered the sale of Stamford Towers, a 326,468-square-foot office complex in southern coastal Connecticut. Stamford Towers is a two-building, transit-served development that is home to tenants such as Citigroup, Gerald Metals, H/2 Capital, Oaktree and Legal & General. Jeff Dunne, Steve Bardsley, Travis Langer and David Block of CBRE represented the seller, CBRE Investment Management, in the transaction. The quartet also procured the buyer, a joint venture between Lamar Cos. and Real Capital Solutions.

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AcquisitionsMultifamilyNew YorkNortheastRetail

JLL Arranges $25M Sale of Multifamily, Retail Building in Manhattan

by Taylor Williams

NEW YORK CITY — JLL has arranged the $25 million sale of an eight-story, 19,000-square-foot multifamily and retail building located at 149 Spring St. in Manhattan’s SoHo neighborhood. The building’s retail space, which is currently vacant, totals 2,254 square feet, and according to StreetEasy, the multifamily component encompasses seven units. Michael Mazzara, Ethan Stanton, Brendan Maddigan, Steve Rutman, Guthrie Garvin and Hall Oster of JLL represented the seller, local developer EMP Capital Group, in the transaction. The buyer was Creed Equities, a New York City-based family investment firm.

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35-S.-Jefferson-Road-Whippany-New-Jersey
DevelopmentIndustrialNew JerseyNortheastOffice

Marcus Partners Breaks Ground on Office-to-Industrial Conversion Project in Whippany, New Jersey

by Taylor Williams

WHIPPANY, N.J. — Boston-based development and investment firm Marcus Partners has broken ground on an office-to-industrial conversion project in Whippany, located in Northern New Jersey. The project will convert a 40,000-square-foot vacant office building that sits on a 6.6-acre site at 35 S. Jefferson Road into a 72,000-square-foot logistics facility with a clear height of 36 feet. Truist Bank is financing the project, which is expected to be complete in the third quarter of 2026. JLL arranged the construction debt.

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Jersey-City-Self-Storage
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

Tulfra Real Estate Completes 797-Unit Self-Storage Project in Jersey City

by Taylor Williams

JERSEY CITY, N.J. — Locally based developer Tulfra Real Estate has completed a 797-unit self-storage project in Jersey City. The six-story, climate-controlled facility at 300 Thomas McGovern Drive spans 115,000 gross square feet and is part of a larger development known as Jersey City Self Storage that will ultimately comprise approximately 261,000 square feet (gross) across more than 2,400 units and two more phases of development. Fulton Bank financed construction of the project, which is a conversion of a former industrial site. JLL arranged the construction debt. Public Storage operates the facility.

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AcquisitionsMultifamilyNew JerseyNortheastSeniors Housing

Continuum Brokers Sale of 270-Unit Continuing Care Retirement Community in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Continuum Advisors has brokered the sale of Laurel Circle, a 270-unit continuing care retirement community located in the Northern New Jersey community of Bridgewater. Totaling 270 units, Laurel Circle features 183 independent living apartments, 19 independent living villas, 30 assisted living residences, 10 memory care units and 28 skilled nursing units. The property also includes several undeveloped acres for future expansion. David Kliewer and Jay Jordan of Continuum arranged the transaction. An affiliate of Maxwell Group and Senior Living Communities was the buyer. The seller, a joint venture that included seniors housing owner-operator LCS, recently invested more than $15 million in capital improvements to the property.

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AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $24M Sale of Multifamily Development Site in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $24 million sale of a multifamily development site in the Park Slope area of Brooklyn. The assembled site at 67-75 4th Avenue and 77 St. Marks Place can support 84,780 buildable square feet of product. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel represented the seller, private investor Tolib Mansurov, in the transaction. The buyer was another private investor, Shimon Kleinman.

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IndustrialLeasing ActivityNew JerseyNortheast

Resource Realty Negotiates 52,606 SF Industrial Lease in Clifton, New Jersey

by Taylor Williams

CLIFTON, N.J. — Resource Realty of Northern New Jersey has negotiated a 52,606-square-foot, full-building industrial lease in Clifton. The names of the tenant and landlord were not disclosed. According to LoopNet Inc., the building at 1155 Bloomfield Ave. was originally constructed in 1952. Building features include a clear height of 24 feet, five loading docks and 12,000 square feet of office, showroom and tech space. Greg Sabato of Resource Realty negotiated the deal.

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Leasing ActivityNew YorkNortheastOffice

Courier Health Signs 15,038 SF Office Lease in Manhattan’s NoMad District

by Taylor Williams

NEW YORK CITY — Courier Health Inc. has signed a 15,038-square-foot office lease in Manhattan’s NoMad district. The locally based healthcare technology company will occupy the entire third floor of 135 Madison Avenue, a 175,200-square-foot building that was originally constructed in 1911. Max Koeppel of Koeppel Rosen represented the landlord in the lease negotiations on an internal basis. Jacob Wolkenfeld of Norman Bobrow & Co. represented Courier Health.

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Piazza-Alta-Philadelphia
DevelopmentMultifamilyNortheastPennsylvania

Affinius Capital Provides $170M Construction Loan for Philadelphia Multifamily Project

by Taylor Williams

PHILADELPHIA — Affinius Capital has provided a $170 million construction loan for a 431-unit multifamily project that will be located in Philadelphia’s Northern Liberties neighborhood. The project represents Phase II of a larger development known as Piazza Alta and will consist of two buildings that will rise eight and 16 stories. Units will come in studio, one-, two- and three-bedroom floor plans and will be furnished with stainless steel appliances and individual washers and dryers. Amenities will include a rooftop lap and lounge pool, grilling stations, fire pits, a fitness center with a yoga studio and coworking spaces. Russell Schildkraut of Ackman-Ziff arranged the loan on behalf of the borrower, locally based developer Post Brothers.

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The-Mark-State-College
DevelopmentNortheastPennsylvania

Joint Venture to Develop 515-Bed Student Housing Project Near Penn State University

by Taylor Williams

STATE COLLEGE, PA. — A joint venture between Georgia-based developer Landmark Properties and Liberty Mutual Investments will develop The Mark State College, a 515-bed student housing project for students at Penn State University. Designed by Cube3 Architects, The Mark State College will be a 12-story building that will be located on East College Avenue, adjacent to campus. Amenities will include a sky deck, rooftop pool and hot tub, fitness center and sauna, clubhouse, grilling area, sports simulator, study lounge, café, computer lab and fire pits. TSB Capital Advisors arranged construction financing for the project. A tentative development timeline was not announced.

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