Northeast

Rolex Nears Completion of 30-Story, Namesake Office Building in Midtown Manhattan

by Taylor Williams March 31, 2026

NEW YORK CITY — Luxury watchmaker Rolex is nearing completion of construction of a 30-story namesake office building in Midtown Manhattan. Designed by architect Sir David Chipperfield, The Rolex Building will be located at 665 Fifth Ave. and will span 165,000 square feet. The building will house a multi-level Rolex retail space, along with office floors for Rolex and other companies, including Angeles Wealth Management. Tenants will have access to amenity spaces, including a restaurant and event space. Pavarini McGovern is serving as construction manager on the development, full completion of which is slated for the fall.

March 31, 2026

Development Loans Multifamily New York Northeast Office

Joint Venture Receives $175M Construction Loan for Office-to-Residential Conversion in Lower Manhattan

by Taylor Williams March 31, 2026

NEW YORK CITY — A joint venture between Broad Street Development, Los Angeles-based PCCP and One Investment Management has received a $175 million construction loan for an office-to-residential conversion project in Lower Manhattan. The joint venture will convert the 400,000-square-foot office building at 80 Broad St., which is known locally as The Maritime Building, into a 326-unit apartment complex. Jordan Roeschlaub, Nick Scribani, Holden Witkoff and Niv Shahmoon of Newmark arranged the financing through Derby Lane Partners on behalf of the joint venture. The development team, which includes Rawlings Architects, will utilize New York City’s 467-m office-to-residential tax incentive program as part of the project’s capitalization. A construction timeline was not announced.

March 31, 2026

Leasing Activity New York Northeast Office

EliseAI Signs 109,000 SF Office Headquarters Lease in Midtown Manhattan

by Taylor Williams March 31, 2026

NEW YORK CITY — EliseAI has signed a 10-year, 109,000-square-foot office headquarters lease in Midtown Manhattan. The startup that serves the housing and healthcare industries will relocate from a nearby location to the 240,000-square-foot building at 401 Fifth Avenue. Evan Margolin, Valentin Stobetsky, Calum Waddell, Will McGarry and Hale King of JLL represented the tenant in the lease negotiations. Brian Waterman, David Waterman and Alex Kesseler of Newmark represented the landlord, The Chetrit Organization.

March 31, 2026

Leasing Activity New York Northeast Retail

United Hospital Fund Renews 22,083 SF Office Headquarters Lease in Midtown Manhattan

by Taylor Williams March 31, 2026

NEW YORK CITY — United Hospital Fund has renewed its 22,083-square-foot office headquarters lease in Midtown Manhattan. The nonprofit organization is relocating from the 12th to seventh floor of 1411 Broadway. Josh Kuriloff, Matthias Li and Heather Thomas of Cushman & Wakefield represented the tenant in the lease negotiations. Paul Amrich, Neil King and Emily Chabrier of CBRE represented the landlord, La Caisse.

March 31, 2026

Development Hospitality Loans Multifamily Northeast Pennsylvania

Cronheim Arranges $40M Construction Loan for Hotel, Condo Project in State College, Pennsylvania

by Taylor Williams March 30, 2026

STATE COLLEGE, PA. — An affiliate of New Jersey-based intermediary Cronheim Mortgage has arranged a $40 million construction loan for a 70-room hotel and condo project in State College. The site is located at the gateway to Penn State University’s campus, and the building will include ground-floor retail space. Residences/hotel rooms will feature premium finishes, and residents will have access to 24/7 security, concierge and housekeeping services, as well as use of a fitness center. An undisclosed national lender provided the nonrecourse loan to the borrower, which also requested anonymity.

March 30, 2026

Acquisitions Connecticut Northeast Retail

IPA Brokers $15.4M Sale of Shopping Center in Derby, Connecticut

by Taylor Williams March 30, 2026

DERBY, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the $15.4 million sale of Derby Shopping Center, a 170,683-square-foot shopping center located about eight miles west of New Haven. Built in phases from 1985 to 2023 and anchored by Lowe’s Home Improvement, the center is also home to tenants such as Splash Car Wash, Webster Bank and Dunkin.’ Jim Koury of IPA, along with Henry McKenney and John Krueger of Marcus & Millichap, represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

March 30, 2026

Acquisitions Development Multifamily New Jersey Northeast Seniors Housing

Hudson Atlantic Negotiates $9.2M Sale of Multifamily Development Site in Paramus, New Jersey

by Taylor Williams March 30, 2026

PARAMUS, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the $9.2 million sale of a multifamily development site in the Northern New Jersey community of Paramus. The 9.9-acre site at 731 Pascack Road is fully approved for the development of a 162-unit, age-restricted project that will be known as The Residences at Joy Farms. Units will come in one- and two-bedroom floor plans, and amenities will include a fitness center, bar/kitchen area and indoor/outdoor social spaces. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

March 30, 2026

Leasing Activity New York Northeast Office

Watershed Technology Signs 15,180 SF Office Lease in Manhattan’s NoHo District

by Taylor Williams March 30, 2026

NEW YORK CITY — Watershed Technology Inc. has signed a 15,180-square-foot office lease in Manhattan’s NoHo district. The provider of software that tracks sustainability data will occupy the entire fifth floor at 440 Lafayette Street, which is part of a larger, three-building complex. Sacha Zarba and Conor Krup of CBRE represented the tenant in the lease negotiations. Robert Silver, Anthony Sciacca and Brittany Silver of Newmark, along with internal agent Neith Stone, represented the landlord, GFP Real Estate.

March 30, 2026

Development Multifamily New York Northeast

Lendlease Welcomes First Residents To 834-Unit Apartment Community in Brooklyn

by Taylor Williams March 27, 2026

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.

March 27, 2026

Hospitality Loans New Jersey Northeast

Cronheim Arranges $13.2M Loan for Refinancing of Northern New Jersey Hotels

by Taylor Williams March 27, 2026

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.

March 27, 2026

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