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New York, NY Arbor Realty Trust, Inc. has funded two loans totaling $4.8 million in the New York City area.  The first loan was for 401 E. 136th St., Bronx. This nine-unit multifamily property received $1.8 million in refinance funding through the Freddie Mac SBL program. The deal provides a five-year hybrid term and a 30-year amortization schedule. Ari Short of Arbor’s New York City office originated the loan. 

Manhattan, NY JLL Capital Markets has arranged a $95 million loan for the acquisition and repositioning of three office buildings — 580 Eighth Ave., 251 West 39th St. and 36 East 20th St. — for East End Capital and a private family office, and also arranged the partnership of the two firms. The loan was provided by LoanCore Capital. Aaron Appel, vice chairman; Jonathan Schwartz, managing director; Mark Fisher, executive vice president; Matt Collins, associate; Patrick Cotter, analyst, led the JLL Capital Markets team handling the debt assignment. The property owner was represented by Doug Heitner, Sara Ho and Isaac Stern at Kasowitz Benson Torres LLP.

Manhattan, NY According to John Brod, a partner at ABS Partners Real Estate, men’s fashion and accessories brand, Bugatchi Group, Inc., has signed a 4,751 s/f lease for the entire ninth floor at 145 East 57th St., a 13-story, 64,000 s/f “curated” office property located between Lexington and Third Aves. Bugatchi will be utilizing the space to house its family and business offices

Among the numerous legal developments of 2018 the standouts include the introduction of a new tax strategy for real estate investment and development, and a $6.75 million verdict against a property owner for destroying street art, noted below with a few others of interest: 

Bronx, NY Turnbridge Equities continues their expansion of their Last Mile Industrial portfolio in the New York City metro industrial market after acquiring a 10.2 acre land site located at 980 East 149th St. for $56.2 million.  The property, which is entitled for nearly 900,000 s/f of industrial warehouse use, is fully leased to Til-Con, a concrete recycling company.  

Manhattan, NY According to the Howard Gilman Foundation and Denham Wolf Real Estate Services, the Foundation has purchased a commercial office condominium overlooking Bryant Park for $8 million. In late 2019, the Foundation will relocate to this 5,300 s/f office in Harbor Group International’s 24 West 40th St. building. 

Brooklyn, NY Bestreich Realty Group (BRG) has closed on the sale of 132 6th Ave. in the Park Slope neighborhood for $3 million ($638 per s/f). This property is built 20 ft x 47 ft offering 4,700 s/f.  The sellers of this property are Wiener and Evelyne Longchamp and the buyer is Scott Kupferman. Adam Lobel, Toby Waring, Justin Zeitchik, Gabriel Kates and Derek Bestreich of BRG represented the purchasing entity.

Manhattan, NY JLL completed a new transaction for Quentis Therapeutics at 1361 Amsterdam Ave., also known as the Mink Building, in the West Harlem neighborhood with Janus Property Co. The cancer immunotherapy startup firm signed a lease for 10,000 s/f of laboratory and office space.

Manhattan, NY Savills Studley completed a new office lease for Harman International, a Samsung company.  Savills Studley’s Christopher Foerch represented Harman with Los Angeles-based colleague Marcus Arredondo, who works with Harman globally. The landlord, Savanna, was represented by JLL’s Mitch Konsker, Ben Bass, Barbara Winter and Kip Orban.

Albany, NY According to Vanguard-Fine, LLC, the firm has joined the Retail Broker’s Network as the broker affiliate for Upstate New York.

Port Chester, NY Houlihan Lawrence’s Commercial Group has completed three commercial sales in Westchester totaling $3.58 million.

Yorktown Heights, NY According to Admiral Real Estate Services Corp., Level Fitness will be opening a new location in the Staples Plaza on Rte. 202.   

Rye, NY The Marketing Directors  has been appointed the exclusive sales and leasing team for three new residential projects in Westchester County: The St. Regis Residences; The Mason in Mamaroneck, and 14 LeCount Place in New Rochelle. 

Syracuse, NY Xavier Optical, a central New York locally-owned eyewear company, is moving into the ground floor corner location in the Syracuse Building.  

There are two different laws applicable to real estate salespersons and associate real estate brokers in New York City, which require sexual harassment prevention trainings. There is the New York State law and the New York City law.  The New York State law, as set forth at Labor Law 201-g, applies to employers with any number of employees and the training must be conducted annually from October 9, 2018.

Manhattan, NY Howard Rosenblum has joined Cresa as senior vice president of the New York office. A 13-year veteran of the industry, Rosenblum specializes in tenant representation and has advised such prominent clients as Biz 2 Credit, Bonobos, JWE Inc., Northwest Group, ODA Architects, Selerity, Reunited Clothing and Vanguard Construction.

Brooklyn, NY According to John Horowitz, VP - regional manager of Marcus & Millichap, the firm has brokered three deals totaling $7.76 million. The deals include the following: • The $2.35 million sale of 275 Prospect Park West, a 4,800 s/f mixed-use property. The asset sold for $2.35 million. Jakub Nowak, Matthew Rosenzweig and Jesse Kay, in Marcus & Millichap, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was also secured and represented by the team.  “Despite a softening market for rent stabilized assets, our team just closed 275 Prospect Park West at $2.35 million. The interest we generated around this deal indicates that there is still a strong demand for value add rent stabilized buildings,” said Kay.

Manhattan, NY Howard Epstein, director, HSP Real Estate Group, a member of NAI Global, has arranged a five-year lease at 16 West 36th St. for Plusgrade, L.P. a leading technology provider of upgrade solutions for airlines. The tenant will be moving from a comparably-sized space on the fourth floor of the building to its newly built-out, 5,320 s/f second-floor office in January 2019.

Manhattan, NY According to Cushman & Wakefield, the firm has arranged the sale of 117 East 15th St., a five-story multi-tenanted brownstone in the Gramercy Park neighborhood, off Union Sq. The 6,800 s/f walkup building consists of six residential units, a live-work loft on the parlor floor and a restaurant on the ground floor and basement that was previously home to long-time neighborhood bar & nightclub, Belmont Lounge. The final closing price was $11 million.