New York

The-Arboretum-Farmingville
Investment SalesNew YorkNewsNortheast

Inland Acquires Long Island Property for $190M

by Lynn Peisner

FARMINGVILLE, N.Y. — Inland Real Estate Acquisitions, an affiliate of Inland Real Estate Group of Cos., has acquired The Arboretum for $190 million from BRP Cos. Located at 20 Maple Lane in Farmingville, The Arboretum sits on 62 acres. The 292-unit community was developed in 2024 and offers a mix of single-family homes, townhomes and garden-style apartments in two- and three-bedroom floor plans. Amenities include an outdoor heated pool with cabanas, a fitness center with yoga studios, tennis and bocce courts, a putting green, a playground and a 7-acre park …

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259-East-Broadway-New-York
Investment SalesNew YorkNewsNortheast

Lower East Side Mixed-Use Building Trades for $7.8M

by Lynn Peisner

NEW YORK CITY — R.A. Cohen has sold a 16-unit mixed-use building at 259 East Broadway in Manhattan’s Lower East Side for approximately $7.8 million. Marcus & Millichap’s Joe Koicim, Logan Markley and Matt Berger represented the seller and procured the buyer, an unnamed private out-of-state investor. The 12,076-square-foot building includes ground-floor retail leased to Ernesto’s, a Basque restaurant, through April 2028. The two-bedroom apartments are a mix of free-market and rent-stabilized units. The building was developed in 1900.

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443-East-88th-Street-New-York
Investment SalesNew YorkNewsNortheast

Jade Century Properties Buys 25-Unit Building for $16.5M

by Lynn Peisner

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.

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19-Rockwell-Brooklyn
DevelopmentFinanceNew YorkNewsNortheast

Affinius Capital Originates $90 Million Loan for Luxury Brooklyn Property

by Lynn Peisner

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 …

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La-Ostra-Inwood
Affordable HousingDevelopmentNew YorkNewsNortheastOperations

New York City Selects Development Team for 600-Unit Affordable Housing Project in North Manhattan

by Lynn Peisner

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 …

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DevelopmentFinanceInvestment SalesNew YorkNewsNortheast

Tavros Acquires Undeveloped Full-Block Manhattan Site for 600-Unit Project

by Lynn Peisner

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 …

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162-E-36th-New-York
DevelopmentFinanceNew YorkNewsNortheast

Developers of High-Rise in Manhattan’s Murray Hill Secure $115M Refinancing

by Lynn Peisner

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 …

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Arden-Glen-Cove
DevelopmentNew YorkNewsNortheast

RXR, Chuo Nittochi America Break Ground on The Arden in Glen Cove, New York

by Lynn Peisner

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. …

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40X-NYC
DevelopmentFinanceNew YorkNewsNortheast

GFP Receives $192M Loan for Lower Manhattan Conversion Project

by Lynn Peisner

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 …

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Kearse-Brandon
Company NewsNew YorkNewsNortheastPeople News

Jonathan Rose Cos. Appoints Brandon Kearse as President and Chief Investment Officer 

by Lynn Peisner

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.

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