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DevelopmentNew YorkNewsRetailers

Meta to Open Retail Flagship on Fifth Avenue in Manhattan

by Abby Cox

New York City — American technology conglomerate Meta Platforms Inc. will open its first New York flagship location at 697 Fifth Avenue in Manhattan. Meta signed a 10-year lease with Vornado Realty Trust to occupy the entire five-level, 15,000-square-foot townhouse building adjacent to the base of the St. Regis Hotel. The company opened its first flagship store, Meta Lab, in Los Angeles last year. Meta Lab is intended to serve as a hands-on, experiential “playground” where customers can discover, test and purchase Meta’s wearable hardware.

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Grocery-anchoredInvestment salesNew YorkNews

Cronheim Arranges $33.3 Million in Financing for Grocery-Anchored Center in New City, New York

by Abby Cox

New City, N.Y. — Cronheim has arranged a $33.3 million bridge loan for New City Center, a 128,801-square-foot center located in New City, approximately 30 miles north of Manhattan. Dev Morris, Allison Villamagna, Brandon Szwalbenest, and Andrew Stewart of Cronheim secured the three-year loan through Voya Investment Management on behalf of a JV partnership between KABR Group and BTF Capital Fund. The loan provided 75 percent of the total project costs, with additional future funding available for capital improvements. Anchored by ShopRite, New City Center features a mix of tenants such …

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Company newsNew YorkNewsRetailers

Saks to Close Additional Stores as Part of Portfolio Optimization

by Abby Cox

New York City — Saks Global Enterprises is advancing its planned optimization across its real estate portfolio by announcing the closure of an additional 12 Saks Fifth Avenue stores and three Neiman Marcus locations. This builds on initial closures announced last month. While select markets will be streamlined to include either a Saks Fifth Avenue or Neiman Marcus store based on considerations for each location — including performance and customer preference — the company will continue to operate both brands in luxury destinations that represent a growth opportunity. With the announced closures, Saks Global …

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FinanceInvestment salesNew YorkNews

Marcus & Millichap Arranges $21.3 Million Sale of Retail Condominium in Manhattan

by Abby Cox

New York City — Marcus & Millichap has arranged the $21.3 million sale of 156-168 Bleecker Street, a 27,541-square-foot retail condominium located in the Greenwich Village neighborhood of Manhattan. Mission Capital, a subsidiary of Marcus & Millichap Capital Corp. (MMCC), arranged acquisition financing. Eric Anton and Adam Steiner of Marcus & Millichap, along with David Tobin, Spencer Kirsch and Pierre Bonan of Mission Capital, represented the seller and procured the buyer in the transaction. Built in 1896, 156-168 Bleecker Street includes eight retail suites totaling 26,752 square feet and a …

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DevelopmentNew YorkNews

Marx Realty Underway on 58,000-Square-Foot Retail Expansion at Cross County Center in Yonkers, New York

by Abby Cox

Yonkers, N.Y. — Marx Realty is underway on the construction of a two-building, 58,000-square-foot retail expansion at Cross County Center, a 1.2 million-square-foot lifestyle center located in Yonkers, just north of New York City. The first building will comprise 14,000 square feet across a single floor and the second building will span 44,000 square feet across two floors. Marx Realty will also develop a 4-acre park, which will accommodate farmers’ markets and SummerFest events, as well as wellness and seasonal programming. Meanwhile, an adjacent boardwalk will offer café-style seating and shaded …

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FinanceNew YorkNews

Pyramid Management Receives Financing to Maintain Ownership of Walden Galleria Mall in Buffalo, New York

by Abby Cox

Buffalo, N.Y. — Syracuse, New York-based Pyramid Management Group has received financing for Walden Galleria Mall, a 1.6 million-square-foot shopping center located in the Buffalo suburb of Cheektowaga. The new five-year loan, which replaces the property’s existing debt, was put in place in partnerships with lenders that include global asset manager Cross Ocean Partners and impact investment firm Second Horizon Capital. UBS served as financial advisor on behalf of Pyramid. In 2025, Pyramid defaulted on a roughly $220 million loan for the mall, in which Wells Fargo Bank filed a …

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Investment salesNew YorkNews

Black Diamond Acquires 2.3 Million-Square-Foot Palisades Center in Metro New York City

by Abby Cox

West Nyack, N.Y. — Affiliated funds of Stamford, Connecticut-based Black Diamond Capital Management have acquired Palisades Center, a 2.3 million-square-foot shopping center in West Nyack, approximately 18 miles north of Manhattan. Black Diamond purchased the property’s underlying debt for $175 million in a foreclosure auction last week, according to the Rockland Business Journal. The previous owner, Pyramid Management Group, defaulted on the $400 million mortgage in early 2020. Syracuse, New York-based Spinoso Real Estate Group will continue serving as the property’s operating partner. As of December 2022, Palisades Center was the …

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Company newsLeasingMixed-useNew YorkNews

Newmark to Provide Leasing for Penn District in New York City

by Abby Cox

New York City — Newmark Group has been selected to provide leasing for the retail component of the Penn District, a $2.5 billion mixed-use redevelopment in Midtown Manhattan. Mark Masinter, Karen Bellantoni, Jackie Totolo, Pierce Thompson and Nick Masinter of Newmark will lead leasing efforts at the property, which is owned and operated by Vornado Realty Trust. Penn District is now home to 5 million square feet of office space, 300,000 square feet of public plaza space and 1.1 million square feet of retail. Vornado also plans to create a cohesive street-level experience along both …

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DevelopmentNew YorkNewsRestaurants

Pokeworks to Open Four New Restaurants in New York

by Abby Cox

New York City — Irvine, California-based Pokeworks has signed two separate franchise agreements to open four new restaurants in Long Island and Manhattan. Restaurant operator Joe Magnotta is expected to open a Pokeworks restaurant in mid-2026 on Long Island, while business leader Sanchit Sharma plans to develop locations in central Midtown Manhattan that target areas with strong office density and foot traffic. The first restaurant in Manhattan is anticipated to open by late summer 2026, and two more are set to follow. Pokeworks currently operates seven locations in New York City, …

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LeasingNew YorkNews

WS Development Signs Leases with Four New Tenants at Station Twelve Near Buffalo

by Abby Cox

Amherst, N.Y. — WS Development has signed leases with four new tenants at Station 12, an open-air center under development in the Buffalo suburb of Amherst. Black & Blue Steak and Crab, Tempur-Pedic, The North Face and Warby Parker are expected to make their debut in late 2026. The newest tenant lineup joins the first wave of retail, dining and wellness concepts previously announced for Station 12, including Williams Sonoma, Pottery Barn, Anthropologie, Alo Yoga, Solidcore, EVEREVE, Just Salad, gorjana, Free People, FP Movement, Rowan and Oola Bowls.

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