NEW YORK CITY — Kauff McGuire & Margolis LLP has signed a 17,320-square-foot office lease in Midtown Manhattan. The law firm has committed to the 33rd floor of the building at 810 Seventh Ave. for a term of 10 years. Peter Trivelas, Justin Royce and Justin Sodokoff of Cushman & Wakefield represented the tenant in the lease negotiations. Harry Blair, Tara Stacom, Barry Zeller and Pierce Hance, also with Cushman & Wakefield, represented the landlord, SL Green.
NEW YORK CITY — Locally based developer The Moinian Group has topped out 7 Platt Street, a 37-story apartment tower in Manhattan’s Financial District. The 170,000-square-foot building will house 250 units in studio, one- and two-bedroom configurations, as well as some penthouses. Indoor amenities will include a fitness center, library, coworking pods, lounge spaces, private dining spaces with outdoor terrace access, a gaming area, rooftop deck, golf putting area and a communal entertainment kitchen. Residents will have access to outdoor amenities such as a rooftop sundeck and garden lounge, movie lounge area with accompanying seating, barbecues, dining areas, outdoor fitness equipment, an outdoor coworking space and a golf putting area. The design team includes Rockwell Group and Hill West Architects, and AECOM Tishman is serving as the project’s general contractor. Completion is scheduled for the first quarter of 2026. Vertical construction began in January.
BOSTON — MassHousing has provided $25 million in financing for the consolidation and renovation of two affordable housing properties in Boston. The borrower, Affordable Housing & Services Collaborative Inc., will combine the 46-unit Columbia West Apartments and the 45-unit Uphams Corner Market in the city’s Dorchester neighborhood into a 91-unit property that will be known as Columbia Uphams Apartments. The properties were built in 2005 and 1926, respectively. The financing includes $3.9 million in permanent debt, a $20 million construction loan and $1.1 million in subordinate financing. Planned improvements include upgrades to building envelopes via new windows and doors, as well as new roofs, HVAC systems, appliances, faucets, showerheads, toilets, lighting and security systems. Units will also receive new kitchen and bathroom cabinets, countertops and flooring, and elevator systems will be modernized.
ALPHA, N.J. — A joint venture between national investment and development firm CRG and Los Angeles-based PCCP is underway on construction of The Cubes at Alpha, a 575,900-square-foot industrial park that will be located in Northern New Jersey. The Cubes at Alpha will consist of two single-side-load buildings that will total 270,900 and 305,000 square feet on a 37-acre site. Both buildings will offer clear heights of 36 feet, ESFR sprinkler systems and dedicated space for trailer parking and/or outdoor storage. CRG’s parent company, Clayco, will serve as the design-build firm for the project, while Lamar Johnson Collaborative is the architect. Construction is slated for a third-quarter 2025 completion.
SYRACUSE, N.Y. — Virginia-based private equity firm Excel Group has acquired the 209-room Embassy Suites by Hilton Syracuse Destiny USA. The name stems from the property’s location adjacent to Destiny USA, a 2.4 million-square-foot shopping, dining and entertainment destination. The hotel opened in 2017 and offers amenities such as a indoor pool, fitness center, business center and meeting rooms. The seller and sales price were not disclosed. The new ownership has tapped Island Hospitality Management to manage the hotel.
MOORESTOWN, N.J. — Marcus & Millichap has brokered the $5.4 million sale of an 8,420-square-foot educational building in the Southern New Jersey community of Moorestown. Operator Spring Education Group occupies the building via its Chesterbrook Academy daycare and early learning center. Sean Lenchner, Mark Ruble, Chris Lind and Zack House of Marcus & Millichap represented the buyer, a limited liability company, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
MANCHESTER, N.H. — Private equity real estate firm Jones Street Investment Partners has completed a 250-unit multifamily project in Manchester, located near the New Hampshire-Massachusetts border. Located at 75 Canal St. in the downtown area, the property houses studio, one-, two- and three-bedroom units and 2,000 square feet of retail space. Amenities include a fireside lounge, rooftop terrace, work pods, social lounge and TV parlor, game room, fitness center, outdoor courtyards and a pet spa. Construction began in late 2022. Rents start at approximately $1,800 per month for a studio apartment.
NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $12.5 million permanent loan for The Jackson, a 40-unit apartment building located in the Jackson Heights area of Queens. The newly built property houses studio, one- and two-bedroom units with an average size of about 600 square feet, as well as ground-floor retail space that is leased to T-Swirl Crepe, Pizza Hut, Alta Aesthetics and a law firm. Amenities include a fitness center and a rooftop terrace. Andrew Stewart and Allison Villamagna of Cronheim originated the debt. The direct lender and borrower were not disclosed.
MEREDITH, N.H. — Continuum Advisors has negotiated the $11 million sale of Meredith Bay Colony Club, an 85-unit seniors housing property in central New Hampshire. Built in 2008, the continuing care retirement community (CCRC) offers 41 independent living apartments, 20 assisted living residences and 24 memory care units, as well as an additional 18 undeveloped acres for future expansion. Amenities include an indoor pool and a fitness center. The buyer was nonprofit owner-operator Taylor Community.
PAULSBORO, N.J. — Marcus & Millichap has brokered the $2.5 million sale of a 46,236-square-foot shopping center in Paulsboro, located outside of Philadelphia in Southern New Jersey. Save-A-Lot Food Stores and Dollar Tree are the anchor tenants at the property at 545 Broad St. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.