NYACK, N.Y. — JLL has negotiated the sale of a 557-unit self-storage facility located at 92 State Route 59 in Nyack, located near the New York-New Jersey border. The facility was built in 1996 and was 87 percent occupied at the time of sale. JLL represented the seller, Go Store It, in the transaction and procured the buyer, Storage Post Self Storage, which has since rebranded the property. The sales price was not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $16.5 million sale of a 25-unit apartment building in Upper Manhattan’s Yorkville neighborhood. The six-story building at 443 E. 88th St. exclusively offers market-rate units. Joe Koicim and Logan Markley of Marcus & Millichap represented the undisclosed seller in the deal. The duo also worked with Marcus & Millichap’s Mark Zarrella to procure the buyer, Jade Century Properties.
YONKERS, N.Y. — Marx Realty is underway on construction of a 58,000-square-foot retail expansion project in Yonkers, located just north of New York City. The project will add two new buildings totaling 14,000 and 44,000 square feet to Cross County Center, a 1.2 million-square-foot development that first opened in 1954. The project also includes construction of a 4-acre park. A tentative completion date was not announced.
NEW YORK CITY — Betches Media has signed a 23,028-square-foot office lease in Midtown Manhattan. The female-led producer of digital content is relocating from 43 W. 24th St. to the entire sixth floor at 360 Park Avenue South, a newly renovated, 440,000-square-foot building. Shay Bolton, Kirill Azovtsev and Jim Wenk of Savills represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.
PASSAIC, N.J. — Cushman & Wakefield has brokered the $49 million sale of The Pennington, a 147-unit apartment building in the Northern New Jersey community of Passaic. Completed in 2024, The Pennington is an adaptive reuse building that offers studio, one-, two-, three- and four-bedroom units with an average size of 968 square feet. P3 Properties acquired the asset from Birch Group. Niko Nicolaou, Ryan Dowd, David Bernhaut, Peter Welch, J.P. Hohl and Alexandria Russo Ebers of Cushman & Wakefield brokered the deal. Brad Domenico, John Alascio, Chuck Kohaut, Frank Stanislaski, Ethan Thompson and Jack Subers, also with Cushman & Wakefield, arranged $45.9 million in acquisition financing for the transaction through Prime Finance.
BOSTON — An affiliate of Wingate Cos. has completed the renovation of Forte at 1440 Beacon, a 136-unit apartment building in Boston’s Brookline neighborhood. The property was originally built in 1949, and the renovation entailed upgrades to the lobby, common areas, building exterior and mechanical and utility systems. The project team also enhanced existing amenities and added some additional recreational spaces and features. Dario Designs was the project architect, and Nauset Construction was the general contractor.
HOBOKEN, N.J. — CBRE has negotiated the $8.2 million sale of a two-story retail property in downtown Hoboken. According to LoopNet Inc., the property at 226-228 Washington St. was built in 1967 and totals 15,393 square feet. The buyer and seller were both limited liability companies. Charles Berger and Sam Bernhault brokered the deal on behalf of both parties.
NEW YORK CITY — EPIC Insurance has signed an office lease expansion in Midtown Manhattan. The company now occupies 25,500 square feet at 1140 Avenue of the Americas, a 22-story building that was constructed in 1925. Josh Kuriloff, Matthias Li, Pierce Hance, Heather Thomas and Nicole Estevez of Cushman & Wakefield represented the undisclosed landlord in the lease negotiations. Eric Deutsch and Jared Freede of CBRE represented EPIC.
NEW YORK CITY — JLL Capital Markets has arranged a $150 million loan for the refinancing of the Bay Terrace Shopping Center, a grocery-anchored retail property in the Bayside neighborhood of Queens. JLL secured the loan through New York Life Real Estate Investors on behalf of the locally based borrower, Cord Meyer Development. Located at the intersection of 26th Avenue and Bell Boulevard, Bay Terrace totals 326,445 square feet and was approximately 90 percent leased at the time of financing. Anchored by Stop & Shop, the property is also home to HomeGoods, AMC Theatres, Bank of America, Chase Bank, Sephora and LA Fitness. The center was originally developed in the 1960s. Cord Meyer has recently invested significant capital to enhance the asset, including façade upgrades, new signage, improved pedestrian circulation and a “Restaurant Row.” Additional improvements are planned to further modernize the property. According to JLL, the Northeast Queens submarket contains 23.8 million square feet of retail inventory with a vacancy rate of 2.5 percent. Current retail construction is significantly below historical averages, with 15,000 square feet underway, one-tenth of the 150,000-square-foot annual average. Founded in 1904, Cord Meyer is a developer, owner and operator of retail, commercial and residential …
MEDFORD, MASS. — Locally based owner-operator The Davis Cos. has sold a 922-unit self-storage facility in Medford, a northern suburb of Boston. Davis acquired the facility at 970 Fellsway, which spans 80,995 net rentable square feet, in 2019 and subsequently implemented capital improvements, as well as a 297-unit expansion. Extra Space Storage operates the facility, which was 84 percent occupied at the time of sale. The buyer was a joint venture between Invesco Real Estate and Baranof Holdings.
