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EntertainmentNew YorkNews

Newmark Secures $90 Million Refinancing of Brooklyn Shopping Center

by Hayden Spiess

New York City — Newmark has secured a $90 million loan for the refinancing of a 181,000-square-foot shopping center located in Brooklyn in New York City. The center is leased to tenants including Whole Foods Market, Equinox, Chipotle Mexican Grill, Citibank and T-Mobile. Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Benjamin Kroll and Alexander Saslove of Newmark arranged the loan through Apollo Global Management on behalf of the borrower, a joint venture between Aurora Capital Associates, Midtown Equities and ACHS Management.

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LeasingNew YorkNews

54D Opens 7,000-Square-Foot Gym in Manhattan

by Hayden Spiess

New York City — Fitness club 54D has opened a 7,000-square-foot gym in New York City. The gym will now occupy the ground floor of 125 West 25th Street, a 12-story building in Manhattan. Westbuilt Construction Managers and architecture firm THIRLWALL completed the $2.2 million renovation of the space. The project team also included Mija Architecture, Criterion Acoustics, NY Engineers and Stys Hospitality Initiative, the owner’s representative. 

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Company newsInvestment salesNew YorkNews

Retail REIT Merger: Kimco Realty to Acquire RPT Realty for $2 Billion in All-Stock Transaction

by Hayden Spiess

Jericho and New York City, N.Y. — Kimco Realty (NYSE: KIM) has entered into a definitive merger agreement with RPT Realty (NYSE: RPT) under which Kimco will acquire RPT Realty in an all-stock transaction. Both REITs are based in New York — Kimco in Jericho and RPT in Manhattan — and own and operate open-air and grocery-anchored shopping centers, as well as mixed-use assets. Kimco valued the transaction at approximately $2 billion, including the assumption of debt and preferred stock. The merger will add 56 open-air shopping centers, including 43 wholly …

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LeasingNew YorkNews

Arc’teryx Opens 3,900-Square-Foot Store on Long Island

by Hayden Spiess

Manhasset, N.Y. — Outdoor apparel and equipment retailer Arc’teryx has opened a 3,900-square-foot store in Manhasset on Long Island. Located within The Gate at Manhasset, a 107,474-square-foot retail center, the space is situated between lululemon and Natuzzi. This marks the brand’s fifth store in the state. Olshan Properties is the landlord at the property. 

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DevelopmentInvestment salesMixed-useNew YorkNews

Hart Lyman Co. Buys Great Northern Mall in New York for $9 Million

by Hayden Spiess

Clay, N.Y. —Hart Lyman Co. has purchased Great Northern Mall, a shuttered retail and dining development located in Clay, for $9 million. The new ownership plans to redevelop the 120-acre property into a mixed-use destination. Britt Raymond and Kyle Fant of SRS Real Estate Partners represented the seller, New York-based Kohan Retail, in the transaction. The duo also procured Hart Lyman as the buyer.

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Investment salesNet leaseNew YorkNews

Marcus & Millichap Brokers $6.6 Million Sale of Staten Island Retail Property

by Katie Sloan

New York City — Marcus & Millichap has brokered the $6.6 million sale of a 17,734-square-foot retail property on Staten Island that is net leased to Pep Boys. The automotive parts retailer has occupied the space at 1941 Forest Ave. for more than 15 years, and the property can support about 30,000 square feet of new development. Scott Plasky of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.

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Investment salesNet leaseNew YorkNews

Boulder Group Arranges $5 Million Sale of Single-Tenant Property Leased to 7-Eleven in New York

by Hayden Spiess

Haverstraw, N.Y. — The Boulder Group has arranged the $5 million sale of a 3,034-square-foot retail property in Haverstraw that is net leased to 7-Eleven. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a regional developer, in the transaction. The buyer was a New York-based private investor that acquired the asset via a 1031 exchange. 

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Company newsNew YorkNews

Coach Owner to Acquire Parent Company of Michael Kors, Versace for $8.5 Billion 

by Hayden Spiess

New York City — Tapestry (NYSE: TPR), owner of fashion brands Coach, Kate Spade and Stuart Weitzman, has agreed to acquire luxury fashion group Capri Holdings Limited (NYSE: CPRI) for $8.5 billion. Both companies are based in New York City. Capri Holdings consists of Versace, Jimmy Choo and Michael Kors. The group spans a retail footprint of over 1,200 stores globally, including 223 Versace locations, 237 Jimmy Choo stores and 812 Michael Kors locations.  The all-cash transaction, which was unanimously approved by the board of directors at both Tapestry and Capri …

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DevelopmentLeasingNew YorkNews

Wegmans to Open 87,500-Square-Foot Grocery Store in Manhattan’s East Village Neighborhood

by Hayden Spiess

New York City — Wegmans Food Market has announced plans to open an 87,500-square-foot store at 770 Broadway in Manhattan’s East Village neighborhood. The market, dubbed Wegmans Astor Place, will be located at the base of an office building that Vornado Realty Trust owns. Meta, formerly known as Facebook, occupies the office portion of the property. The store, which is set to open on Oct. 18, will offer made-to-order and packaged foods; ready-to-eat and ready-to-heat options, including a selection of entrees and sides for individuals and families; and a ‘restaurant foods’ …

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