Northeast

Waterman, HPS Begin Renovation of 605,000 SF Office Building in Midtown Manhattan

by Taylor Williams November 26, 2025

NEW YORK CITY — A partnership between New York City-based Waterman Interests and alternative asset management firm HPS Investment Partners has begun the renovation of 850 Third Avenue, a 605,000-square-foot office building in Midtown Manhattan. Renovations to the 21-story building, which was originally constructed in 1961, will include an expanded lobby with contemporary finishes and a 14,000-square-foot conference and social center with 200-seat capacity. In addition, the project team, led by design firms MdeAS Architecture and Vocon, as well as general contractor Turner Construction and mechanical engineer Cosentini Associates, will deliver new elevators, windows, storefronts and building systems. A tentative completion date was not announced.

November 26, 2025

Acquisitions New Jersey Northeast Office

JLL Brokers Sale of 203,506 SF Office Building in Parsippany, New Jersey

by Taylor Williams November 26, 2025

PARSIPPANY, N.J. — JLL has brokered the sale of 14 Sylvan Way, a 203,506-square-foot office building located in the Northern New Jersey community of Parsippany. Built in 2013 within the 2.1-million-square-foot Arbors @ Parsippany office campus, 14 Sylvan Way is a three-story building with a cafeteria/bistro, courtyard, tenant lounge, game room and conference facilities. The building was fully leased at the time of sale to Travel + Leisure Co. Jose Cruz, Jeremy Neuer, Michael Kavaler and Tim Greiner of JLL represented the undisclosed, institutional seller in the transaction and procured the buyer, Signature Acquisitions.

November 26, 2025

Hospitality Loans New York Northeast

Cronheim Mortgage Arranges $18M Permanent Loan for Hotel in Middletown, New York

by Taylor Williams November 26, 2025

MIDDLETOWN, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged an $18 million permanent loan for the Residence Inn Middletown Goshen hotel in Middletown, about 75 miles north of New York City. The number of rooms was not disclosed. The hotel opened in 2020. The loan carries a five-year term and a fixed interest rate. The borrower and direct lender were also not disclosed.

November 26, 2025

Delaware Leasing Activity Northeast Retail

Weis Markets Opens 64,000 SF Store at Bayberry Town Center in Middletown, Delaware

by Taylor Williams November 26, 2025

MIDDLETOWN, DEL. — Regional grocer Weis Markets has opened a 64,000-square-foot store and serve as the anchor tenant at Bayberry Town Center, a 280,000-square-foot development in Middletown. The site is located within the 1,500-acre Village of Bayberry master-planned community. The store was announced in May 2023. Blenheim Group is the master developer of Village of Bayberry.

November 26, 2025

Loans Mixed-Use New Jersey Northeast

Kennedy Funding Provides $2.8M Land Loan for Development Site in South Orange, New Jersey

by Taylor Williams November 26, 2025

SOUTH ORANGE, N.J. — Kennedy Funding, a New Jersey-based direct private lender, has provided a $2.8 million land loan for a development site in the Northern New Jersey community of South Orange. The parcels at 270 and 299 Irvington Ave. total 2.2 acres. Plans call for 61 residential units and several commercial spaces. The debt was structured with a 55 percent loan-to-value ratio. The borrower was not disclosed.

November 26, 2025

Acquisitions Industrial Northeast Pennsylvania Top Stories

EQT Real Estate Sells 8.7 MSF Logistics Portfolio Across 13 Markets

by Kristin Harlow November 26, 2025

RADNOR, PA., AND CHEVY CHASE, MD. — EQT Real Estate, on behalf of its EQT Real Estate Industrial Core-Plus Fund II, has sold a 25-property logistics portfolio totaling 8.7 million square feet across 13 markets. The sales price was not disclosed, but the transaction marks the largest U.S. industrial sale so far in 2025, according to Radnor-based EQT Real Estate. Chevy Chase-based Artemis Real Estate Partners was the buyer. The portfolio spans distribution markets such as Atlanta, Chicago, New York, Phoenix and Texas. The assets feature an average clear height of 31 feet, cross-dock and rear-load configurations, expansive truck courts and generous parking accommodations. Most of the properties were developed after 2000, and EQT Real Estate began assembling and managing the portfolio in 2020. The properties are more than 95 percent leased to 25 tenants active in distribution, e-commerce, food and beverage and manufacturing. EQT Real Estate says the transaction marks the culmination of its multi-year strategy to assemble and scale a national logistics platform in high-growth, supply-constrained U.S. markets. Additionally, the sale reflects investor appetite for stabilized, institutional logistics properties with long-term demand drivers and limited new supply. John Huguenard, Trent Agnew and Will McCormack of JLL represented EQT …

November 26, 2025

Loans Multifamily Northeast Pennsylvania

GFI Realty Arranges $96M Loan for Refinancing of Philadelphia Multifamily Property

by Taylor Williams November 25, 2025

PHILADELPHIA — New York City-based brokerage and advisory firm GFI Realty Services has arranged a $96 million loan for the refinancing of 4701 Pine Street, a 412-unit multifamily property in Philadelphia’s University City neighborhood. The property consists of a 192-unit pre-war building that was recently renovated, a newly constructed, 220-unit building, 10,000 square feet of retail space and a 260-space parking garage. Daniel Lerer of GFI Realty arranged the loan. The borrower and direct lender were not disclosed.

November 25, 2025

Acquisitions Multifamily New York Northeast

Adirondack Capital Partners Negotiates Sale of 189-Unit Apartment Complex in Queensbury, New York

by Taylor Williams November 25, 2025

QUEENSBURY, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the sale of Whispering Pines Apartments, a 189-unit multifamily complex in Queensbury, located north of Albany. Built in 1980, the garden-style property offers one- and two-bedroom units and amenities such as a pool, tennis courts, fitness center and onsite laundry facilities. Adirondack represented the buyer, Dawn Homes Management, in the transaction. Parker Stevens of Eastdil Secured represented the seller.

November 25, 2025

Acquisitions Northeast Pennsylvania Retail

CBRE Brokers Sale of 100,250 SF Shopping Center in Easton, Pennsylvania

by Taylor Williams November 25, 2025

EASTON, PA. — CBRE has brokered the sale of Forks Town Center, a 100,250-square-foot shopping center in the Lehigh Valley city of Easton. Grocer GIANT anchors the center, which was fully leased at the time of sale. Other tenants include Dunkin’, PNC Bank, Fine Wine & Good Spirits and Verizon. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, JC Bar Properties Inc., in the deal. The buyer was Nike Equities. The sales price was not disclosed.

November 25, 2025

Development Multifamily New York Northeast

Partnership Completes Lease-Up of 49-Unit Apartment Building in Brooklyn

by Taylor Williams November 25, 2025

NEW YORK CITY — A partnership between William Macklowe Co. and GreenBarn Investment Group has completed the lease-up of a 49-unit apartment building in the Park Slope area of Brooklyn. Designed by SLCE Architects with interiors by Durukan Design, the four-story building is part of the Paseo on Fifth development, which comprises 131 units across two buildings. Residences at Paseo on Fifth come in studio, one- and two-bedroom floor plans. Rents start at roughly $3,200 per month for a studio apartment.

November 25, 2025

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