NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $6.9 million sale of a 7,500-square-foot mixed-use building in the Boerum Hill area of Brooklyn. The four-story building at 292-294 Atlantic Ave. consists of five market-rate apartments, three retail spaces and one office space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.
HACKETTSTOWN, N.J. — Resource Realty of Northern New Jersey has secured a 37,168-square-foot industrial lease in Hackettstown, about 50 miles west of New York City. According to LoopNet Inc., the building at 101 Bilby Road was completed in 1990 and totals 65,000 square feet. Brian Wilson of Resource Realty represented the landlord in the lease negotiations. KBC Advisors represented the tenant. Both parties requested anonymity.
NEW YORK CITY — Newmark has arranged the $210 million refinancing of 1375 Broadway, a 520,000-square-foot office building in Midtown Manhattan. The building recently underwent a capital improvement program that upgraded the lobby, entrance, common areas and tenant lounges and also introduced a 6,000-square-foot rooftop terrace. Nick Scribani, Ricky Braha, Tim Polgase and Niv Shahmoon of Newmark arranged the debt through Boston-based private equity firm Bain Capital. The borrower was a partnership between 60 Guilders and Sentry Realty.
WATERTOWN, MASS. — CBRE has brokered the sale of Watertown Mews, a 206-unit apartment complex located on the western outskirts of Boston. Built in 2014, Watertown Mews offers studio, one-, two- and three-bedroom units with an average size of 1,014 square feet. Amenities include a pool, community room, business center, media room, fitness center, community garden and outdoor dining and grilling stations. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, an account advised by PGIM, in the transaction and procured the buyer, Mesirow.
HACKETTSTOWN, N.J. — Resource Realty of Northern New Jersey has negotiated a 45,048-square-foot industrial lease in Hackettstown, about 50 miles west of New York City. According to LoopNet Inc., the building at 715 Willow Grove St. was completed in 2008 and totals 75,502 square feet. Brian Wilson of Resource Realty represented the landlord in the lease negotiations. KBC Advisors represented the tenant. Both parties requested anonymity.
NEW YORK CITY — Wolf Popper LLP has signed a 13,400-square-foot office lease in Midtown Manhattan. The law firm will occupy the entire 19th floor at 570 Lexington Avenue, a 450,622-square-foot building that was constructed in 1932. Daniel Horowitz, Ira Schuman, Jeffrey Peck, Jacob Stern and Skyler Celotto of Savills represented the tenant in the lease negotiations. The landlord, The Feil Organization, was self-represented.
NEW YORK CITY AND BOSTON — Affiliates of New York City-based investment firm Makarora Management and global investment firm Ares Management Corp. (NYSE: ARE) have completed the $2.1 billion, all-cash acquisition of Boston-based Plymouth Industrial REIT. Under the terms of the deal, which was announced last fall, Plymouth shareholders will receive $22 for each share of common stock they own, and Plymouth will no longer be traded or listed on any public securities exchange. The transaction also calls for the acquiring entities to assume certain pieces of Plymouth’s outstanding debt. The purchase price represents a premium of approximately 50 percent to Plymouth’s unaffected closing common stock price on August 18, 2025. That date marks the last trading day prior to the filing of a Schedule 13D by affiliates of Sixth Street Partners LLC disclosing a nonbinding proposal to acquire all of the outstanding shares of Plymouth’s common stock.
PEMBERTON, N.J. — New York City-based Rockefeller Group will develop a 486,850-square-foot industrial project in Pemberton, located about 35 miles east of Philadelphia. The site spans 100 acres at 2554 U.S. Route 206, and the two-building development will be known as 206 Logistics Center. Building features will include clear heights of 36 to 40 feet, ESFR sprinkler systems and “ample” trailer parking. A construction timeline was not announced. Jonathan Klear and Fred Meyer of NAI Mertz represented Rockefeller Group in its acquisition of the land. NAI Mertz has also been retained to market the project for lease, sale and/or build-to-suit opportunities.
NEW YORK CITY — A partnership between locally based developer Slate Property Group and RiseBoro Community Partnership has completed a 318-unit affordable housing redevelopment project in Queens. The property, which is known as Baisley Pond Park Residences, is a conversion of the 350-room JFK Hilton Hotel in the borough’s Jamaica neighborhood, which was originally built in 1987 and is located about half a mile from JFK International Airport. The new complex houses studio, one- and two-bedroom units and amenities such as a fitness center, computer lounge and multiple common rooms. Aufgang Architects designed the project. Leasing began last spring.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $5.6 million sale of two apartment buildings in the Park Slope area of Brooklyn. The four-story buildings at 334-336 Ninth St. house seven market-rate apartments, one office space and one retail space. Stephen Vorvolakos, Chris Brodhead, Sean Kelly and Nicole Daniggelis of Ariel brokered the deal. The buyer and seller were not disclosed.