NEW YORK CITY —Lendlease has welcomed the first residents to The Riverie, an 834-unit apartment community in the Greenpoint neighborhood of Brooklyn. Spanning an entire city block along the East River, The Riverie comprises two towers that rise 37 and 20 stories, as well as a mid-rise podium with frontages along India, West and Java streets. Residences range from studios to three bedrooms, including select penthouses and townhomes. Of the total unit count, 30 percent of residences are designated as affordable housing. The development also features 13,000 square feet of retail and restaurant space, Class A amenities and new public green space. Marvel was the project architect. Rents start at roughly $3,800 per month for a studio apartment. The Riverie was capitalized in late 2022. Construction began in spring 2023 and topped out in fall 2024, at which point the project was known as 1 Java Street.
Northeast
WOODBRIDGE, N.J. — The hotel division of local financial intermediary Cronheim Mortgage has arranged a $13.2 million loan for the refinancing of two hotels in the Northern New Jersey community of Woodbridge. The 101-room Comfort Suites was built in 1998, and the 90-room Fairfield Inn & Suites was built in 2003. David Turley led the Cronheim team that secured the five-year, fixed-rate loan through an undisclosed bank. The undisclosed borrower plans to use a portion of the proceeds to convert the Comfort Suites property into a 96-room TownePlace Suites hotel.
MONROE TOWNSHIP, N.J. — New Jersey-based private equity real estate firm Sitex Group has purchased a 26,000-square-foot warehouse in Monroe Township, located outside of Trenton in Central New Jersey. The building sits on a 5.2-acre site at 30 Abeel Road and offers a clear height of 36 feet and outdoor storage space. Mike Kimmel of KBC Advisors brokered the deal. The seller and sales price were not disclosed. KBC Advisors has also been retained as the leasing agent.
NEW YORK CITY — Hero’s Journey, a technology-driven fitness concept, will open a 19,500-square-foot flagship gym in Midtown Manhattan. The space spans 1,500 square feet on the ground floor and 18,000 square feet on the lower level of the retail condo at 225 Fifth Ave. Jesse Wolff and Matthew Schuss of JLL represented the landlord, CIM Group, in the lease negotiations in conjunction with the owner’s in-house leasing team. Cassie Durand and Aylin Gucalp of CBRE represented Hero’s Journey. An opening date was not announced.
NEW YORK CITY — New York-based investment firm Atlas Capital Group has purchased a 130-unit apartment building in Manhattan’s East Village. The 13-story building at 250 E. Houston St., which according to StreetEasy offers studio, one- and two-bedroom units, also houses 9,000 square feet of commercial space. Approximately 75 percent of the units have private balconies. Amenities include a rooftop terrace, landscaped courtyard spaces, an athletic club and a tenant lounge. Rob Hinckley and Jeff Julien of JLL brokered the deal. The seller and sales price were not disclosed.
NEW YORK CITY — New York-based brokerage firm Adirondack Capital Partners has arranged the $18.5 million sale of a retail property in Manhattan’s NoHo neighborhood. Birkenstock occupies the entire 2,300 square feet of leasable space within the two-story building at 120 Spring St. The seller was an entity doing business as 120 Spring Realty Associates LLC. The buyer was a nigh-net-worth Japanese investor. Michael Hunter Coghill of Adirondack Capital brokered the all-cash deal.
BRAINTREE, MASS. — Regional brokerage firm Hunneman has negotiated a 24,103-square-foot office lease in Braintree, a southern suburb of Boston. The tenant is the Massachusetts Department of Children & Families, and the space is located within Forbes Business Center, a three-building, 150,000-square-foot development. Ned Halloran and Leeanne Rizzo of Hunneman represented the landlord, KS Partners, in the lease negotiations.
GARDEN CITY, N.Y. — QSAC, a nonprofit organization supporting people with autism, has signed a 23,633-square-foot office lease in Garden City, located on Long Island. The space spans portions of the first and second floors of the building at 711 Stewart Ave. Kyle Crennan and Joe Lopresti of JLL represented the landlord, Benedict Realty Group, in the lease negotiations. Roy Chipkin of CBRE represented the tenant.
NEW YORK CITY — Affinius Capital has provided a $300 million loan for the refinancing of 102 Fleet, a 30-story multifamily project in downtown Brooklyn. Upon completion, the 495-unit building will house 108 studios, 97 one-bedroom units, 262 two-bedroom residences and 28 three-bedroom apartments. Amenities include a rooftop pool, fitness center with a spa, coworking space and conference rooms, multiple resident lounges, an indoor game room, pet spa, indoor climbing wall and pickleball courts. Henry Bodek of Galaxy Capital arranged the loan on behalf of the owner, The Jay Group, which will use the proceeds to complete construction and lease the property to stabilization.
PHILADELPHIA — Delaware-based investment firm Capano Residential has purchased Rittenhouse Row Apartments, an 80-unit apartment building in downtown Philadelphia, for $23.7 million, with plans to implement a renovation. The 13-story building at 1601 Sansom St., which was originally constructed in 1910 and converted to residential use in the 1990s, was 94 percent occupied at the time of sale. Capano plans to demolish the entire floor to construct four additional apartments, as well as to renovate the leasing office, relocate and enhance the existing fitness center and create a new tenant amenity space.
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