NEW YORK CITY — Locally based owner-operator Fetner Properties has completed the renovation of The Arbor, a 127-unit apartment complex in The Bronx. The Arbor, which was originally constructed in 2006 in the borough’s Riverdale neighborhood, consists of two nine-story buildings that house one-, two-, three- and four-bedroom units. Post-renovation, residences feature stainless steel appliances and in-unit washers and dryers, as well as new kitchen counters, cabinets, backsplashes and fixtures. Fetner also reimagined the building’s lobby and upgraded amenity spaces, which include a fitness center, resident lounge, children’s playroom and a courtyard.
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NEWARK, N.J. — Drew Capital, a New Jersey-based mortgage banking firm, has arranged a $16.2 million construction loan for Central Pointe, a 77-unit multifamily project that will be located in Newark’s University Heights neighborhood. Designed by INOA Architecture, Central Pointe will have six studios, 29 one-bedroom units and 42 two-bedroom residences, with 16 apartments designated as affordable housing. Amenities will include a fitness center, coworking lounge, communal spaces and a rooftop garden. Trevian Capital provided the loan to the developer, Newark-based Giga Holdings, which expects to complete the project next summer. Akiva Drew led the debt placement effort for Drew Capital
HORSEHEADS, N.Y. — New York-based investment firm United Properties Corp. has purchased Southern Tier Crossing, an 84,000-square-foot shopping center in Horseheads, located in the southern-central part of the state. The sales price was $13.5 million. According to information on the website of Nashville-based brokerage firm Matthews, the center was built in 2008 and is home to tenants such as Burlington, PetSmart, ULTA and Five Below. The seller was not disclosed.
NEW YORK CITY — Local brokerage firm TerraCRG has arranged the $8.6 million sale of a multi-level retail building in the Williamsburg area of Brooklyn. The building at 76 Ainslie St., which according to LoopNet Inc. was constructed in 1974, totals 9,084 square feet across three levels. Daniel Lebor, Dan Marks and Thomas Horrigan of TerraCRG brokered the deal. The buyer and seller were not disclosed.
By Taylor Williams Ask a local retail broker or landlord to name tenants that are currently expanding aggressively in the greater Boston area and throughout New England as a whole, and odds are that “Ross Dress for Less” will come up within the first minute. Of course, the California-based discount retailer has been crushing it for some time now. Ross announced in mid-March that it had opened 17 new stores, including four under its dd’s Discounts brands, in the first quarter — openings that followed the rollout of 36 new stores last fall. According to USA Today, these new stores came as part of Ross’ broader plan to grow its store count by about 200 units over the course of 2025 and 2026. These new store openings included locations in New York and New Jersey, but at the time, that appeared to be the northbound extent of the expansion. Not surprising, given that the discount apparel market in New England has long been dominated by TJX Cos., the metro Boston-based parent company of both T.J. Maxx and Marshalls, with Burlington also routinely capturing a respectable share of that market. The fact that Boston proper was — and still is — …
ROSELAND, N.J. — Local owner-operator Garden Communities has begun leasing a 211-unit apartment complex in the Northern New Jersey community of Roseland. Gardens at Roseland offers single-level and duplex apartments that come in one- and two-bedroom floor plans. Amenities include a pool, fitness center, an entertainment room, fireside lounge and private workspaces, sports court, playground and outdoor grilling and dining stations. Rents start at roughly $2,700 per month for a one-bedroom unit.
NEW YORK CITY — Marcus & Millichap has brokered the $7.3 million sale of two mixed-use buildings in Manhattan’s Greenwich Village area. Constructed in 1910 and recently renovated, the buildings at 18-20 Christopher St. consist of eight residential units and three commercial spaces. Peter Dodge, Joe Koicim and Paige DeMutis of Marcus & Millichap represented the undisclosed seller in the transaction and procured the buyer, Dalan Real Estate.
NEW YORK CITY — Versant Media Group (Nasdaq: VSNT) has signed a 84,509-square-foot office lease expansion and 18-year extension in Midtown Manhattan. The owner of networks like MS NOW, CNBC, USA Network, Golf Channel, E!, SYFY and Oxygen now occupies 249,054 square feet across six floors at 229 West 43rd Street, a 15-story building that was constructed in 1912 as the home of The New York Times. CBRE represented Versant in the lease negotiations. The landlord, Columbia Property Trust, was self-represented.
READING, MASS. — Trader Joe’s will open a new grocery store in Reading, a northern suburb of Boston, later this year. The square footage was not disclosed. The store will be located within The Crossing at Walkers Brook, a 480,000-square-foot shopping center that is also home to Jordan’s Furniture, Home Depot, Golf Galaxy, The Paper Store and Starbucks. Chris Mearn of District Real Estate Advisors represented Trader Joe’s in the lease negotiations. Regional owner-operator Wilder Cos. owns The Crossing at Walkers Brook.
BOSTON — National developer Millennium Partners has received $281 million in Property Assessed Clean Energy (PACE) financing for the residential component of Winthrop Center, a 62-story mixed-use tower in downtown Boston. Nuveen Green Capital provided the financing, which will be administered under the PACE Massachusetts program by MassDevelopment, the Commonwealth’s development finance agency and land bank. Located at 115 Federal St. in downtown Boston, Winthrop Center comprises 317 luxury condominium residences that are known as The Millennium Residences at Winthrop Center, as well as approximately 800,000 square feet of office space and a multi-level public gathering space known as The Connector. Winthrop Center, which was first capitalized in fall 2020, carries LEED Platinum and WELL Gold certifications. The financing allows Millennium Partners to build on these sustainability investments and reinforces Winthrop Center’s position as an environmentally advanced mixed-use development, according to the team that worked on the deal. “MassDevelopment is excited to see The Millennium Residences at Winthrop Center recapitalized through PACE Massachusetts, representing the largest commercial PACE financing in the region to date,” says Navjeet Bal, president and CEO of MassDevelopment, which is administering the loan in consultation with the Massachusetts Department of Energy Resource. “We encourage developers and …
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