NEW YORK CITY — Locally based developer Omni New York LLC has completed Archer Green, a 387-unit affordable housing project in the Jamaica area of Queens. The property includes 70,000 square feet of commercial space, a portion of which is preleased to German discount grocer Aldi. Amenities include a fitness room, outdoor terrace, community lounge, children’s playroom, media and coworking space, package lockers and bike storage space. Information on income restrictions was not disclosed.
NEW YORK CITY — A partnership between Sunrise Senior Living, Houston-based Hines and Welltower (NYSE: WELL) has opened Sunrise at East 56th, a 151-unit high-rise community on Manhattan’s Upper East Side. The property offers assisted living and memory care services. Sunrise is collaborating with Northwell Health for services at the building. SLCE Architects designed the property, and Champalimaud Design created the interiors. The fourth, 11th and 15th floors feature landscaped outdoor terraces and gardens with views of the Manhattan skyline.
MYSTIC, CONN. — New York City-based Dwight Capital has provided a $29 million bridge loan for the refinancing of Harbor Heights Apartments, a 121-unit multifamily asset in Mystic, located in the southern coastal part of Connecticut. The property was built on 10.5 acres in 2020 and offers a pool, fitness center, clubhouse with a kitchen, dog park and outdoor grilling areas. Daniel Malka and Jacob Gauptman of Dwight Capital originated the loan. The undisclosed borrower will also use a portion of the cash-out proceeds to fund predevelopment costs for a second phase of the property, a 72,000-square-foot surgical center.
SOUTH HACKENSACK, N.J. — Metro Philadelphia-based investment firm Seagis Property Group has acquired a 63,000-square-foot warehouse in South Hackensack, located outside of New York City in the Meadowlands submarket. The property was fully leased at the time of sale. The seller and sales price were not disclosed. The deal increases the size of Seagis Property Group’s New Jersey portfolio to 33 buildings totaling 5.2 million square feet.
NEW YORK CITY — The Port Authority of New York and New Jersey has reached an agreement with a consortium of private financial sponsors to build a 2.4 million-square-foot international terminal that will anchor the south side of John F. Kennedy International Airport (JFK) in New York City. The $9.5 billion project will comprise 23 gates and be built in phases at the airport’s T1, T2 and the former T3 terminals, with groundbreaking anticipated for next year. The port authority expects for the first gates at the new terminal, dubbed New Terminal One, to debut in 2026, with full project completion expected in 2030. The overall development is expected to support 10,000 new jobs, including 6,000 construction jobs. “The time to get large infrastructure projects done is now, and I’m committed to getting JFK’s brand new Terminal One underway and completed as soon as possible,” says New York Gov. Kathy Hochul. The design-build team for the project includes AECOM Tishman and Gensler. The passenger facilities at New Terminal One will feature larger check-in, security and concessions areas. Design elements will include high ceilings, natural light, interior green space and local artwork. Technology that will be supported at the terminal include …
HACKENSACK, N.J. — Enburg Group, a developer that was established in Taiwan in 1978 as a food manufacturer, has opened Brick of Hackensack, a 378-unit apartment community in the Northern New Jersey city’s downtown area. The 15-story building features studio, one- and two-bedroom units that are furnished with stainless steel appliances, marble quartz countertops and individual washers and dryers. Amenities include a pool, fitness center with a yoga studio and a clubhouse with a pool table and TVs. Rents start at $1,800 per month for a studio unit.
EASTON, PA. — Global logistics operator Realterm has acquired a 307,290-square-foot warehouse that is located at 3747 Hecktown Road in the Lehigh Valley city of Easton. Built on 28.5 acres in 1986 and expanded in 2017, the single-tenant property features 32 loading positions, 56 trailer parking stalls, 370 car parking spaces and 4,800 square feet of freezer space. The property was fully leased at the time of sale. John Plower, Ryan Cottone, Zach Maguire and Jeff Lockard of JLL brokered the deal on behalf of Realterm. The seller was not disclosed.
FRANKLIN AND DANVERS, MASS. — Avison Young has brokered the $37.2 million sale of a portfolio of two industrial buildings totaling 205,324 square feet in metro Boston. The properties, which were fully leased at the time of sale to tenants such as Panera Bread, JNJ Industries, Lansing Building Products and McCue Corp., are located in the southwestern suburb of Franklin and the northern suburb of Danvers. Scott Jamieson and Brandon Dickason of Avison Young represented the seller, Arris Partners LLC, in the transaction and procured the buyer, Denver-based Black Creek Group.
NEW YORK CITY — Walker & Dunlop has arranged a $36 million loan for the refinancing of a 64-unit multifamily property in the Bushwick neighborhood of Brooklyn. Built in 2018, the property consists of 23 studios and 41 two-bedroom apartments with 30 percent of units designated as affordable housing, as well as 14,080 square feet of retail space that is fully leased. Aaron Appel, Michael Diaz, Michael Ianno and Jackson Irwin of Walker & Dunlop arranged the five-year, floating-rate loan through Amherst Capital Management on behalf of the borrower, Cayuga Capital Management.
BOSTON — MassHousing has provided $28.5 million in financing for Council Tower, a 145-unit affordable seniors housing property in the Roxbury neighborhood of Boston. Excluding the property manager’s unit, all of Council Tower’s 28 studios and 117 one-bedroom units are subsidized by a Section 8 Housing Assistance Payment contract. The borrower, the Council of Elders Housing Corp., will use proceeds to refinance existing debt, fund capital improvements and preserve the affordability of the 17-story building.