NEW YORK CITY — Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, has provided two loans totaling $427 million for a pair of office-to-residential conversion projects in New York City. In the first deal, Northwind funded a $208 million loan for the partial conversion of 141 Willoughby Street, a 24-story 355,000-square-foot office building in downtown Brooklyn. The borrower, a joint venture between Capstone Equities and BH3 Fund Advisors, plans to redevelop the office space on floors eight through 23 into 239 apartments. Ownership plans to maintain office usage across the first seven floors of 141 Willoughby, which was originally constructed in 2023 but never occupied. Future residents will have access to amenities such as a fitness center, entertainment lounge, coworking space, wellness center, golf simulator, sports court, games room and a children’s playroom, along with landscaped terraces on the 10th and 20th floors and a full-time attended lobby. Lastly, the new ownership of 141 Willoughby, which has rebranded the building as 385 Gold, will maintain separate entrances and exits between the office and residential components. An expected completion date was not announced. “[The building at] 141 Willoughby Street was designed to an institutional standard, …
Property Type
If there is one thing I have learned over the past year, it’s that retail buyers have not left Orlando. They have become more selective, and that selectivity is exposing the real issue in the market: there are not enough high-quality retail properties available for sale in the trade areas investors want most. Inventory remains near all-time lows throughout Central Florida, especially in established trade areas with strong demographics, excellent visibility and limited opportunities for new development. As a result, buyer demand continues to outpace the number of available opportunities. Orlando remains one of the strongest retail markets in the country, supported by healthy consumer spending, positive net absorption and a limited construction pipeline that continues to give investors confidence. For owners, this creates an important window. Properties with strong locations, durable tenancy and a clear growth story are standing out because buyers have fewer comparable alternatives to pursue. In this market, quality does not just protect value; it creates competition. One of the biggest changes I have noticed over the past few years is how buyers evaluate opportunities. A few years ago, investors moved much faster. Today, they spend more time underwriting acquisitions, reviewing lease structures and understanding the …
OKLAHOMA CITY — Gardner Tanenbaum Holdings has completed a $60 million adaptive reuse project in downtown Oklahoma City. The project converted two historic buildings —the Tradesmen National Bank building at 101 N. Broadway and the Medical Arts building at 100 Park Ave., both of which were constructed in the early 1920s — into a 265-unit apartment complex known as The Harlow. The property offers studio, one- and two-bedroom units and also includes 4,300 square feet of retail space. Amenities include a game room, fitness center, movie theater, bowling alley and coworking space. Rents start at roughly $1,100 per month for a studio apartment.
CROWLEY, TEXAS — Marcus & Millichap has brokered the sale of Crowley Space Station, a 299-unit self-storage facility located south of Fort Worth. The site spans 5.2 acres, and the facility offers drive-up units, covered parking and uncovered parking spaces for a total of 64,210 net rentable square feet. Brandon Karr of Marcus & Millichap represented the seller, a local owner-operator, in the transaction, and procured the buyer, a California-based private investor. Both parties requested anonymity.
MIDLOTHIAN, TEXAS — St. Louis-based developer Sansone Group has delivered Palmer Logistics, a 269,700-square-foot industrial project located in the southern Dallas suburb of Midlothian. The facility, which is situated on a 26.5-acre site, is a build-to-suit for Houston-based chemicals manufacturer Palmer International and will be used for hazardous materials storage and distribution. ARCO/Murray served as the general contractor for the project, construction of which began in August 2025.
HOUSTON — Locally based brokerage firm Oxford Partners has negotiated a 10,709-square-foot industrial lease renewal and expansion in northwest Houston. According to LoopNet Inc., the building at 8901 Jameel Road was constructed in 1980 and totals 47,510 square feet. Sam Marnoy and Matt Rogers of Oxford Parters represented the tenant, Contract Mover Services, in the lease negotiations. Jack Rathe and Natalie Gilbert of Stream Realty Partners represented the landlord, Dallas-based Bleecker Partners.
NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has sold 110 Greene Street, a 223,000-square-foot office building in Lower Manhattan, for $226 million. The 13-story building was originally constructed as two structures by New York City merchant Charles “Broadway” Rouse between 1908 and 1920 and later combined into a single structure that is known locally as The SoHo Building. Tenants include Avoro Capital, Birkenstock and apparel retailer UNTUCKit. Gary Phillips, Will Silverman and Carly Shoulberg of Eastdil Secured Savills advised SL Green on the transaction. The buyer was not disclosed.
NEW YORK CITY — McDermott Will & Schulte has signed a 150,000-square-foot office lease in Midtown Manhattan. The global law firm will occupy the entirety of floors 31 through 37 at 343 Madison Avenue, a 46-story, 930,000-square-foot building that is currently under construction. The firm’s footprint will encompass some 330 offices and will include an outdoor terrace. Occupancy is slated for fall 2029. BXP, the REIT formerly known as Boston Properties, owns 343 Madison. No third-party brokers were involved in the lease negotiations.
ELMWOOD PARK, N.J. — A partnership between two locally based investment firms, The STRO Cos. and KRE Group, has acquired a portfolio of three industrial buildings totaling approximately 120,000 square feet in the Northern New Jersey community of Elmwood Park. The buildings are situated on a combined 7.4 acres at the intersection of I-80 and the Garden State Parkway. Both buildings feature clear heights of 20 feet. The partnership plans to reposition one of the buildings to support industrial outdoor storage use. IDB financed the acquisition. The seller and sales price were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $5 million sale of a 35-unit apartment building in Upper Manhattan. The five-story building at 120 Haven St. houses six one-bedroom units, 25 two-bedroom residences and four three-bedroom apartments. Seth Glasser, Michael Fusco, Christopher Mehran and Jacob Kahn of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. Kahn also secured acquisition financing for the deal.