MIDDLESEX COUNTY, N.J. — Locally based brokerage firm Gebroe-Hammer Associates has arranged the $9.7 million sale of a portfolio of three multifamily properties totaling 53 units in Northern New Jersey’s Middlesex County. The portfolio comprises Byron Street Apartments in Carteret (18 units); Townhomes at Veterans Park in Sayreville (20 units); and the Apartments at Edison Station in Edison (18 units). Joseph Brecher and Joseph Gehler of Gebroe-Hammer represented the undisclosed seller and procured the buyer, Golden Sky Equities, in the transaction.
NEW YORK CITY — Chelsea Piers Fitness will open a 72,000-square-foot gym at 24-11 Jackson Ave., a 55-story mixed-use tower located in the Long Island City area of Queens. The facility will house indoor and outdoor pools, a basketball court, track, studios for group classes and a member lounge. Erin Grace and Matt Ogle of JLL represented Chelsea Piers Fitness in the lease negotiations. The landlord, a partnership between Tavros Holdings, Charney Cos. and Incoco Capital, was self-represented.
NEW YORK CITY — Lockton Re, a provider of reinsurance services, has signed a 19,326-square-foot office lease at 261 Fifth Avenue in Manhattan’s NoMad district. The company is relocating from 48 West 25th St. to the 10th floor of the 25-story, 450,000-square-foot building. Don Preate of JLL represented the tenant in the lease negotiations. Andrew Wiener, Tim Parlante and David Turino internally represented the landlord, The Feil Organization, which recently implemented a $20 million value-add program at the building.
NEW YORK CITY — Locally based firm Extell Development Co. is underway on construction of a 435,000-square-foot medical office project at 1520 First Ave. on Manhattan’s Upper East Side. Designed by Perkins Eastman Architects, the 30-story building will occupy a full city block between East 79th and East 80th streets and house ambulatory care and surgical facilities. Foundation completion and vertical construction are scheduled to occur during the third quarter of this year, and full completion is slated for the second quarter of 2025. According to the development team, the facility will be the first privately built medical office tower to be developed on the Upper East Side. Additional building features will include multiple outdoor terraces and mechanical systems to enhance comfort and energy efficiency, as well as ground-floor retail space. The Hospital for Special Surgery (HSS) has preleased eight floors totaling 195,580 square feet to serve as the facility’s anchor tenant. Newmark has been tapped to lease the remainder of the space. HSS will house orthopedic and rheumatology physician’s offices, as well as ancillary services for treatment of musculoskeletal conditions. The space will complement the expansion of HSS’ main campus, which will house the newly announced Lauder Family Spine …
NEW YORK CITY — The Kaufman Organization has acquired 875 Avenue of the Americas, a 26-story, 265,000-square-foot office building in Manhattan’s NoMad neighborhood, for $92.5 million. The building was originally constructed in 1926. Chris Varjan of Lee & Associates led a team that represented the seller, which had owned the property since 1975, in the transaction.
PEABODY, MASS. — Marcus & Millichap has brokered the sale of Andover Street Self Storage, a 1,100-unit facility located on the northern outskirts of Boston in Peabody. The facility spans 76,396 net rentable square feet. Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller, a limited liability company, in the transaction. The buyer was not disclosed. Thomas Shihadeh of Marcus & Millichap assisted in closing the deal as the broker of record.
MYSTIC, CONN. — New York City-based Dwight Capital has provided a $34 million HUD-insured construction loan for the second phase of Harbor Heights, a 123-unit multifamily project in Mystic, located in southern coastal Connecticut. Harbor Heights II will feature one four-story building with one-, two- and three-bedroom units on a 5.8-acre site. Amenities will include a pool, fitness center, business center, dog park and outdoor grilling and dining stations. Daniel Malka and Jacob Gauptman of Dwight Capital originated the debt, which was structured with a 40-year term and a fixed interest rate, through HUD’s 221(d)(4) program. The borrower was not disclosed.
PHILADELPHIA — Marquis Health Consulting Services has launched the first phase of a $25 million renovation at Fountain View at Logan Square, a 420,000-square-foot seniors housing community in Philadelphia’s Center City district. The three-year repositioning follows an ownership change and rebranding at Fountain View, formerly known as The Watermark. Designed by ML Group, the project will upgrade the lobby, hallways, apartments and dining room, as well as reconfigure amenity spaces. New features will include an auditorium with space for live entertainment, a makers’ room, theater, piano bar and a sky lounge. Lastly, the development team will add a juice bar and fitness center with a sauna and is exploring possible additions of a pool, outdoor deck and pickleball courts.
NEW YORK CITY — Sunrise Senior Living, in partnership with Hines and Welltower (NYSE: WELL), has completed The Apsley, a 156-unit project on Manhattan’s Upper West Side. Designed by SLCE Architects, the 19-story building is located at 2330 Broadway between 84th and 85th streets and features 80 assisted living and 76 memory care units. Rents start at $15,000 per month for studios, $21,500 for one-bedroom suites and $24,000 for two-bedroom suites.
NEW YORK CITY — Locally based financial intermediary Eastern Union has arranged a $62.2 million construction loan for a 162,000-square-foot mixed-use project that will be located in the Prospect Lefferts Gardens neighborhood of Brooklyn. The site at 1730 Bedford Ave. is two blocks from Prospect Park. Plans for the project currently call for 57 apartments and more than 60,000 square feet of retail/commercial space. German discount grocer Lidl has already committed to the project with a 33,000-square-foot store. Invictus Real Estate Partners provided the loan. The borrower is Seventh Street Development Group. Abraham Bergman and Yossi Orzel of Eastern Union originated the financing.