Sunday, July 20, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

300-Park-Avenue-Manhattan
LoansNew YorkNortheastOffice

Tishman Speyer Receives $385M Refinancing of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Local real estate giant Tishman Speyer has received a $385 million refinancing for 300 Park Avenue, a 25-story office building in Midtown Manhattan. Originally built in 1955, 300 Park Avenue totals 770,000 square feet and was fully leased at the time of the loan closing. A consortium of lenders led by J.P. Morgan Chase and including Deutsche Bank Securities and Morgan Stanley provided a $330 million CMBS loan with a fixed interest rate of 5.44 percent. Macquarie Capital Principal Finance provided $55 million in mezzanine financing to complete the capital stack.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilyNew YorkNortheast

M&T Realty Capital Provides $50M Agency Loan for Refinancing of Manhattan Apartment Building

by Taylor Williams

NEW YORK CITY — M&T Realty Capital Corp. has provided a $50 million Freddie Mac loan for the refinancing of The Alyn, a 56-unit apartment building in Manhattan’s Carnegie Hill neighborhood. Completed in 2019, The Alyn offers one-, two-, three-, four- and five-bedroom units and amenities such as a lounge, wellness center and a children’s playroom. Robert Barry led the M&T team that provided the fixed-rate loan. The borrower was an affiliate of Gordon Property Group, a New York-based family office that was introduced to M&T through an existing client of Connor Preece, group manager at M&T Bank.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNew JerseyNortheastRetail

Goldstein Group Negotiates $24M Sale of Central New Jersey Shopping Center

by Taylor Williams

EDISON, N.J. — Locally based brokerage firm The Goldstein Group has negotiated the $24 million sale of the 120,000-square-foot Inman Grove Shopping Center in the Central New Jersey community of Edison. The center is home to tenants such as Taco Bell, Wells Fargo, Ivy Rehab, Planet Wings, Allstate, Dunkin’, CSL Plasma, Subway, UPS Store, Verizon, Kumon, Dairy Queen, Discovery Christian Montessori School and Vino Sandro Liquors. C.J. Huter, Lew Finkelstein, Marc Palestina and Roy Paret of The Goldstein Group represented the seller, Oak Grove Associates, in the transaction.  

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNew YorkNortheast

Adirondack Capital Partners Arranges $16M Sale of Queens Industrial Complex

by Taylor Williams

NEW YORK CITY — Regional brokerage firm Adirondack Capital Partners (ACP) has arranged the $16 million sale of a 36,000-square-foot industrial complex in the Long Island City area of Queens. Built in 1960, the two-story building at 11-40 Borden Ave. was fully leased at the time of sale to Distribution International, which specializes in construction supplies. Wickersham Realty sold the property to San Francisco-based Terreno Realty Corp. (NYSE: TRNO). Chad Sinsheimer of ACP brokered the deal, which traded at a cap rate of 4.4 percent, on behalf of both parties.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNew YorkNortheastRetail

Life Time to Open 52,000 SF Fitness Club at 10 Bryant in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — Life Time will open a 52,000-square-foot fitness club at 10 Bryant, a 30-story office building located at 452 Fifth Ave. in Midtown Manhattan. The facility will feature a cold plunge pool and a steam room, a spa with red light therapy service, coworking and library spaces, barre and yoga studios and personal training space. JLL represented the landlord, Property & Building Corp., in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
Hill-Estates-Belmont-Massachusetts
AcquisitionsMassachusettsMultifamilyNortheast

Hamilton Co. Buys 396-Unit Hill Estates Apartments in Belmont, Massachusetts for $175M

by Taylor Williams

BELMONT, MASS. — Locally based investment firm The Hamilton Co. has purchased Hill Estates, a 396-unit apartment community in Belmont, a western suburb of Boston, for $175 million. Situated on 14.7 acres, Hill Estates offers 92 townhomes with an average size of 1,417 square feet and 304 apartments with an average size of 997 square feet. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, The Giovanni Family, which originally constructed the property in the 1960s, in the transaction. The team also procured The Hamilton Co. as the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentMultifamilyNew JerseyNortheast

JLL Negotiates Sale of Multifamily Development Site in Kearny, New Jersey

by Taylor Williams

KEARNY, N.J. — JLL has negotiated the sale of a multifamily development site in the Northern New Jersey community of Kearny that is fully approved for the development of 136 market-rate townhomes. The site is located at 55 Passaic Ave., adjacent to a community park that is also under construction. Jose Cruz, Ryan Robertson, Steve Simonelli, Michael Oliver, Elizabeth DeVesty and Austin Pierce of JLL represented the locally based seller, Russo Development, in the transaction. The buyer, PulteGroup Inc., will continue the development as Bridgeview by Pulte Homes.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityMassachusettsNortheastRetail

Zara Opens 44,000 SF Store at CambridgeSide Mixed-Use Development Near Boston

by Taylor Williams

CAMBRIDGE, MASS. — Fashion retailer Zara has opened a 44,000-square-foot store in CambridgeSide, an approximately 1 million-square-foot, mixed-use development located across the Charles River from Boston in Cambridge. The two-level store includes an online order pickup silo and an assisted self-checkout area. New England Development owns CambridgeSide, which originally opened as a regional mall in 1990 and recently launched a food hall.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNortheastOfficePennsylvania

Hogan Lovells Signs 34,752 SF Office Lease Extension in Downtown Philadelphia

by Taylor Williams

PHILADELPHIA — Hogan Lovells has signed a 34,752-square-foot office lease extension in downtown Philadelphia. The law firm will continue to occupy space on the 22nd and 23rd floors of 1735 Market Street, a 54-story, 1.3 million-square-foot building, for an additional 10-plus years. Perry Kaplan and Tim Monahan of Savills represented Hogan Lovells in the lease negotiations. Mitch Marcus, Tom Weitzel and Jake Marcus of JLL, along with internal agents Keith Cody and Gordon Hough, represented the landlord, Silverstein Properties.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNortheastRhode Island

Marcus & Millichap Brokers Sale of 21,570 SF Warehouse in Bristol, Rhode Island

by Taylor Williams

BRISTOL, R.I. — Marcus & Millichap has brokered the sale of a 21,570-square-foot warehouse in Bristol, about 20 miles south of Providence. Built in 1986 and fully renovated in 2023, the building at 66 Tupelo St., which was fully leased at the time of sale, features two overhead doors, a loading dock and 62 surface parking spaces. Harrison Klein and Michael Grant of Marcus & Millichap represented seller, an undisclosed private investor, in the transaction and procured the buyer, Colorado-based Playground Properties.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts