NEW YORK CITY — Marcus & Millichap has arranged the sale of a 25-unit property at 443 East 88th St. in the Yorkville neighborhood of Manhattan, located on the Upper East Side. The property sold to Jade Century Properties for $16.5 million. Joe Koicim and Logan Markley of the NYM Group of Marcus & Millichap’s New York City office represented the undisclosed seller and procured the buyer.
NEW YORK CITY — Locally based developer Mordechai Pillar, owner of One Nine Rockwell in Brooklyn’s Fort Greene neighborhood, has obtained a $90 million refinancing loan. Affinius Capital was the lender. David Bollag of Meridian Capital Group arranged the financing. The proceeds of the loan will be used to complete lease-up and stabilization at One Nine Rockwell, a 27-story, 174-unit property with 1,200 square feet of ground-floor retail. The luxury building is comprised of 35 studios, 103 one-bedrooms and 36 two-bedrooms. The sky lounge on the 27th floor offers a …
NEW YORK CITY — The New York City Department of Housing Preservation and Development (HPD) has selected Slate Property Group, Xenolith Partners and Communilife to develop La Ostra on a vacant lot in Inwood, the northern-most neighborhood in Manhattan. The project will include 600 units, 200 of which will be reserved for seniors. All apartments will offer affordable rents. Specific income restrictions were not disclosed. The developers will also build a marine science and STEM education center that will be operated by the Billion Oyster Project, a nonprofit founded in …
NEW YORK CITY — Tavros, a locally based private investor and developer, has acquired 250 Water Street, a 1-acre site in Manhattan’s Seaport neighborhood for $143 million. Tavros is planning to build a ground-up, 600-unit multifamily project on the land. Twenty-five percent of the units will be offered at to-be-announced affordable monthly rents. The community will be anchored by four floors of retail. Fogarty Finger is the architect. A construction timeline was not disclosed. JLL represented the undisclosed seller in the deal and advised Tavros on a pre-development loan provided …
NEW YORK CITY — Affinius Capital has provided a $115 million refinancing loan to Ranco Capital and the Gilardian Family, the developers of a 22-story multifamily project in Manhattan’s Murray Hill neighborhood. The borrower will use the financing to complete construction and stabilize occupancy. Henry Bodek of Galaxy Capital arranged the loan. The building is located at 162 East 36th St. and is comprised of 160 studio, one- and two-bedroom units and 3,700 square feet of ground-floor retail space. Amenities feature a rooftop lounge, a fitness center and sauna, coworking …
GLEN COVE, N.Y, — RXR and Chuo Nittochi America Corp. have broken ground on the 101-unit Arden, located within the Garvies Point mixed-use development in Glen Cove on the north shore of Long Island, about 34 miles south of Manhattan. The five-story project will include 2,400 square feet of retail and such amenities as an attended lobby, a lounge with a kitchenette, a package room, a wellness lounge with a sauna and massage rooms, a pool, fire pit, grilling stations with prep sinks, electric vehicle charging and a landscaped courtyard. …
NEW YORK CITY — GFP Real Estate has obtained a $191.5 million construction loan for the office-to-residential conversion of 40 Exchange Place, a historic 300,000-square-foot, 20-story building in Lower Manhattan’s Financial District. 40 Exchange Place was completed in 1893 and served as the headquarters for the New York Stock Exchange from 1856 to 1865. Derby Lane was the lender, and Newmark’s Jordan Roeschlaub, Chris Kramer and Tim Polglase arranged the financing. Upon completion, the building will include 382 multifamily units in a mix of affordable and market-rate rents as well …
NEW YORK CITY — Affordable housing investment and development firm Jonathan Rose Cos. has appointed Brandon Kearse president, managing partner and chief investment officer. Kearse joined the company in 2015 as an associate director. In his new role, he will drive strategy and oversee operations across acquisitions, recapitalizations and investor relations. Jonathan Rose Cos. was founded in 1989. Its portfolio includes approximately 20,000 units across 14 states and Washington, D.C.
YONKERS, N.Y. — Walker & Dunlop has arranged a $116 million Fannie Mae loan to refinance Alexander Crossing in Yonkers. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, Michael Ianno, Sean Bastian and Jack Krentzman arranged the five-year, fixed-rate loan for New York City-based Rose Associates and joint venture partner Battery Global Advisors, an asset manager headquartered in Boston. Alexander Crossing is a seven-story, 440-unit building comprised of studio through three-bedroom layouts, including 44 apartments designated affordable. Rent restrictions were not publicly available. The community is …
NEW YORK CITY — Walker & Dunlop has arranged $867 million in financing for an office-to-residential conversion project at 111 Wall Street in Lower Manhattan’s Financial District. The package consists of a $778.6 million construction loan with Apollo Global Management, J.P. Morgan Chase & Co. and TYKO Capital serving as lenders. Walker & Dunlop also advised on the extension of an existing $88.4 million C-PACE loan from Petros that remained in the capitalization. Walker & Dunlop’s team was led by Dustin Stolly, Aaron Appel, Adam Schwartz, Keith Kurland, Jonathan Schwartz, …
