New York
Downtown Brooklyn Office Gets $152M Refi
PCCP LLC has funded a senior loan for the recapitalization of a vintage Class A creative office property. The funding will also assist the owners with lease-up efforts.
WeWork Leases 200 KSF in Lower Manhattan
W2O Group and the American Foundation for Suicide Prevention have also committed to occupy a total of more than 85,000 square feet at 199 Water St.
Ivy Realty Obtains $41M for NJ Portfolio Purchase
Cushman & Wakefield has arranged the financing, which will also help the borrower rebrand the value-add collection of seven industrial assets.
Avison Young Hires New Principal
Scott Martin has more than 15 years of commercial real estate experience. In the new role, he will help grow the firm’s Greater Philadelphia and New Jersey health-care portfolio.
MOB Portfolio Trades for $45M in NY
Jacobson Properties teamed up with Cushman & Wakefield/Pyramid Brokerage Co. to represent the seller in its disposition of five properties totaling more than 200,000 square feet.
Life After Amazon for Long Island City’s One Court Square
Ratings agency DBRS’s new report forecasts outcomes for the property in light of a looming $315 million loan maturity and the 1 million-square-foot vacancy that the e-commerce giant had planned to fill.
Newly Completed Queens Asset Lands $21M Financing
AB Capstone will use the new mortgage to pay off existing debt, as well as for the asset’s final lease-up and stabilization.
NJ Office Building Trades
HFF facilitated the sale of Eagle Rock Executive Office IV, a 178,000-square-foot asset in East Hanover, on behalf of the seller.
Lululemon Doubles Flagship Space in NYC
The luxury sportswear retailer took up 20,000 square feet of retail space in United Overseas Bank’s 592 Fifth Ave., which is currently undergoing a facelift.
Lyft Inks 100 KSF Lease in Manhattan
The ride share company signed on at Hudson Commons, a 28-story creative office tower in the new Hudson Yards neighborhood of New York City.