NEW YORK CITY — JLL has arranged a $62 million preferred equity investment for 51 Astor Place, a 386,000-square-foot office building in Manhattan’s NoHo neighborhood. Designed by architect Fumihiko Maki, the 12-story building was completed in 2013 and is leased to tenants such as Intuit, Perceptive Advisors and Tudor Investments. Kelly Gaines, Drew Isaacson, Christopher Pratt and Jennifer Zelko of JLL represented the sponsor, a joint venture between Edward J. Minskoff Equities Inc. and LaSalle Investment Management, in securing the investment from Meadow Partners.
NEW YORK CITY — Dandy has signed a 37,400-square-foot office headquarters lease in the Financial District of Lower Manhattan. The dental technology company initially leased 18,700 square feet on the 30th floor of the building at 22 Cortlandt St. in October 2025 and then doubled its footprint by leasing the entire 31st floor. Peter Johnson and Alexis Odgers of Avison Young represented Dandy in the lease negotiations. Barrett Stern of B Stern CRE represented the landlord, a partnership between entities doing business as Mayore Estates LLC and 80 Lafayette Associates LLC.
SALT LAKE CITY — KBS has completed the sale of the Salt Lake Hardware Building, a historic office building located at 155 N. 400 West in downtown Salt Lake City, to Dart Interests for an undisclosed price. The five-story Salt Lake Hardware Building was owned by KBS Real Estate Investment Trust III, part of KBS’ portfolio of funds and separate accounts. Originally constructed in 1909 as a hardware retail property, the 210,938-square-foot building was converted into a Class A creative office property. The site also includes 2.4 acres of land zoned for mixed-use, providing future development potential for approximately 340 or more residential units.During its ownership, KBS has invested more than $9 million in capital improvements, enhancing tenant and common areas, amenities and building systems to support long-term performance and positioning. Charley Will, Phil Brierley, Patrick Bodnar and Cole Macadaeg of CBRE represented KBS in the sale. Attorneys Bruce Fischer and Howard Chu of Greenberg Traurig LLP represented KBS in the disposition.
CEDAR RAPIDS, IOWA — Samsung Electronics will relocate within Cedar Rapids and expand its research and development operations. The company has been conducting ongoing testing on GPS location software at its current location off Collins Road. Samsung joins a growing list of businesses selecting the emerging Kingston Yard district of downtown Cedar Rapids. Notable recent additions include Big Grove Brewery & Taproom and Pickle Palace, as well as the future opening of the AC Hotel by Marriott. The Cedar Rapids Metro Economic Alliance and the City of Cedar Rapids worked together to assist Samsung’s growth in the city.
NEW YORK CITY — Naftali Credit Partners, an alternative lender and subsidiary of global investment firm Naftali Group, has provided $203 million in financing for an office-to-residential conversion project in Midtown Manhattan. The financing comprises a $167 million senior loan and a $36 million mezzanine loan. The borrower is private equity firm Yellowstone Real Estate Investments, and the property in question is the 25-story building at 221 West 41st St., which was originally constructed in 1925. The converted building will include a 25 percent affordable housing component and amenities such as a fitness center, spa, golf simulator, lounge and an outdoor terrace. A construction timeline was not announced.
NEW YORK CITY — Local owner-operator GFP Real Estate has received an $83 million loan for the refinancing of 100 Crosby Street, an office and retail building in Manhattan’s SoHo neighborhood. The six-story, 175,000-square-foot building was originally constructed in 1884 and was fully leased at the time of the loan closing. Office users include Runway Growth Capital, Little Spoon, Shine Capital and Empire Entertainment, while American Eagle and Canadian fashion retailer Aritzia anchor the building’s retail component. TD Bank and BNY (formerly Bank of New York Mellon) provided the loan, which was arranged by Paul Talbot of Newmark.
NEW YORK CITY — The South African Consulate has signed a 31,494-square-foot office lease in Midtown Manhattan. The diplomatic organization will occupy the penthouse space at 805 Third Avenue, a 31-story building. Michael Goldman of Cresa represented the consulate in the lease negotiations. Glenn Isaacson, Tony Builder and Ava Beganovic of Bradford Allen, along with internal agent Marc Horowitz, represented the landlord, Cohen Brothers Realty Corp.
HOUSTON — Yetter Coleman LLP has signed a 43,906-square-foot office lease in downtown Houston. The law firm will relocate from the nearby building at 811 Main St. to the 53rd and 54th floors of 600 Travis Street, a 75-story tower. Jon Lee and Claire Douthit of CBRE represented the tenant in lease negotiations. A partnership between Hines and Cerberus Capital Management owns the building.
LOS ANGELES — Sonnenblick-Eichner Co. has arranged an $80 million first-mortgage loan secured by Del Rey Campus, a creative office campus in the Marina del Rey submarket of West Los Angeles. The five-year, fixed-rate, interest-only financing was funded by Goldman Sachs and refinanced a construction loan for the property. The sponsor, a joint venture between Continental Development Corp. and Mar Ventures, built the asset in 2020. Located at 4800 Alla Road, the three-building campus offers 162,031 square feet of creative office space with flexibility for full floor and multi-tenant buildouts. All buildings feature 21-foot clear space with exposed ceilings, generous balconies, ground-floor patios and courtyards. The campus also features a café, fitness center with men’s and women’s locker rooms, secured bicycle and surfboard storage areas. Current tenants include the global headquarters of the World Surf League, the westside location for CENTRL Office, a Portland, Ore.-based coworking operator and a large video game studio.
SAN DIEGO — Bridgeway Real Estate Partners, in partnership with LBX Investments, has acquired Plaza Del Mar, an office campus in the Del Mar Heights submarket of San Diego, for $43 million, or $352 per square foot. Located at 12520 and 12526 High Bluff Drive, Plaza Del Mar offers 120,000 square feet of office space. Bridgeway plans to reintroduce the property to the market with an enhanced campus environment, including upgrades to the common area courtyards. Scott Peterson, Mark McGovern, Colby Matzke and Michael Kolcum of CBRE’s Debt and Structured Finance secured acquisition financing on behalf of the buyer. CBRE’s Mike Hoeck, Chris Pascale and Ellycia Walker will handle leasing for the property. Rick Reeder of Newmark represented the undisclosed seller in the transaction.
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