News

Golf Lounge 18 Opens 7,700 SF Entertainment Venue in Stamford, Connecticut

STAMFORD, CONN. — Golf Lounge 18 has opened a 7,700-square-foot entertainment venue in the southern coastal Connecticut city of Stamford. The space is located within Atlantic Station, a mixed-use development in the downtown area, and features multiple golf simulators in addition to food-and-beverage offerings. Golf…

JLL Negotiates $25.1M Brooklyn Multifamily Development Sale

NEW YORK CITY — JLL has negotiated the sale of two multifamily development sites in the Crown Heights area of Brooklyn for a combined price of $25.1 million. The sites at 1029 Dean St. and 1104 Pacific St., which traded in separate off-market deals, have a combined buildable square footage of about 129,000 square…

Allen Féliz of MRI Software: 5 Questions

The article presents an interview with Allen Féliz, vice president of innovation for affordable and public housing at MRI Software, discussing the 21st Century ROAD to Housing Act's impact on real estate and proptech. Féliz describes how the legislation aims to increase housing supply by removing regulatory barriers and modernizing housing programs, which he argues will drive increased demand for proptech solutions in compliance management, workflow automation, asset management, and data visibility, while also expanding public-private partnerships in affordable housing development.

John Roesch Exits Meridian, Launches Roesch Real Estate Group

John Roesch, after nearly a decade at Meridian Retail Leasing, founded Roesch Real Estate Group (RREG), a new retail leasing firm that plans to eventually add an investment sales team and focus on middle-market institutional-style execution. Roesch brought two colleagues from Meridian—Griffin Hanes and Jessica Blocker—to the five-person startup, which aims to grow by combining AI systems with traditional business development methods such as cold calling and in-person networking.

Commercial Real Estate Owners' Growing Interest in Special Servicing Platforms

More commercial real estate owners, including RXR and SL Green, are establishing special servicing platforms to manage distressed CMBS loans, leveraging their operational expertise in asset resolution while creating potential conflicts of interest when servicing loans of competitors. Rating agencies and pooling and servicing agreements provide oversight to mitigate conflicts, though Fitch has previously flagged concerns about affiliate influence, and industry experts remain divided on whether these arrangements ultimately benefit or harm bondholders despite structural post-2008 protections limiting special servicers' ability to acquire distressed assets.

Crestline, PLG $59M Loan on Dallas-Area Condos

Crestline Management and PACE Loan Group provided $58.7 million in construction financing for the Maranello Luxury Garages, an 80-unit luxury garage condominium project in Plano, Texas, with Crestline supplying $36.2 million in senior debt and PLG providing $22.5 million in C-PACE financing. The project is expected to reduce annual energy use by 28 percent and water use by 14 percent through sustainability improvements funded by the C-PACE component.

Brookfield to Replace Hines in $3.5B Hudson Square Properties JV

Brookfield is in exclusive talks to acquire a 10 percent stake in Hudson Square Properties, a 13-property portfolio valued at $3.5 billion on Manhattan's West Side, which would replace Hines as the joint venture's operating partner after a decade. The deal is expected to close in the coming months and comes as Hudson Square has attracted major tech and media tenants including Anthropic, PayPal, and Notion amid a citywide shortage of desirable office space.

From Builder to Partner

Wharton Smith Construction, a New York City commercial construction firm founded by Elliott Mishan, has scaled its operations to handle increasingly complex projects including office fit-outs, corporate headquarters, medical facilities, and adaptive reuse work while maintaining service quality through dedicated staffing roles, proprietary estimating systems, and experienced project leadership. The company has completed major projects including a 100,000-square-foot hotel-to-residential conversion in Lower Manhattan and a 110,000-square-foot luxury corporate headquarters build-out, emphasizing preconstruction planning, data-driven budgeting, and disciplined execution as competitive advantages in New York's evolving commercial real estate market.

REIT Valuation Opacity

REITs are outperforming the S&P 500 by more than 5 percentage points year-to-date as of late June 2026, driven by sector diversification including data centers (up 27 percent), hotels and lodging (up nearly 40 percent), and senior housing, while traditional sectors like office have declined to roughly 3 percent of the REIT market index. The article attributes the valuation gap between REIT stock prices and their underlying real estate values to factors including earnings-focused investors with short time horizons, interest rate cycles, management quality and strategy, and market sentiment that has been slow to shift despite improved fundamentals in certain sectors.

Sunday Summary: Unpacking the Near-Collapse at Pfizer HQ

On July 7, 2026, two steel support structures buckled at the former Pfizer headquarters at 235 East 42nd Street in Manhattan, causing five floors to begin caving in; the building was an office-to-residential conversion by Metro Loft and David Werner Real Estate Investments, and nobody was injured, though union leaders and city officials criticized the construction quality. The same week saw significant office leasing activity in New York, including Loeb & Loeb expanding to 178,959 square feet at 345 Park Avenue, NBCUniversal renewing 244,185 square feet at 1221 Avenue of the Americas, and Ralph Lauren adding 22,000 square feet to reach 280,000 square feet total at the Starrett-Lehigh Building.

Black Equities Buys Culver City Multifamily Asset for $106M

Black Equities, an investment firm, purchased Access Culver City, a 115-unit multifamily property with 31,000 square feet of ground-floor retail, for $106 million, with the deal priced at $704,000 per residential unit and $805 per square foot for retail. The acquisition is described as likely a record for Culver City and reflects the city's emergence as one of Southern California's hottest multifamily investment markets, driven by media and technology employers and pro-development housing policies.

Glasshouses Inks 70K SF at 175 Greenwich Street

Event company Glasshouses has leased 70,000 square feet at 175 Greenwich Street in the Westfield World Trade Center complex in Lower Manhattan to establish its flagship venue, Glasshouse Downtown, designed to accommodate nearly 1,500 guests across two full floors of Tower 3 with completion targeted for 2028. CBRE brokers Anthony Dattoma, Chris Mansfield, and Zachary Weil represented landlord Unibail-Rodamco-Westfield in the transaction, and the lease represents a long-term commitment by Glasshouses to host corporate events, conferences, galas, and other large-scale social gatherings.

Jemal Equities Refinances D.C. Office Building With $27M CMBS Loan

Jemal Equities secured a $27 million commercial mortgage-backed securities loan from Citibank for the refinancing of 1750 H Street NW in Washington, D.C., arranged by Meridian Capital Group. The 123,000-square-foot office building was purchased by Jemal in July 2025 for $28.5 million when it was nearly vacant, and the new permanent debt replaced the initial bridge financing after the property achieved significant leasing momentum within a single year.

Twain Capital $65M C-PACE Loan, Colorado Hotel Project

Twain Capital Partners provided a $65 million Commercial Property Assessed Clean Energy (C-PACE) loan for the Foote's Rest mixed-use development in Frisco, Colorado, which will include an 80-key Marriott Tribute Hotel and an underground entertainment venue with bowling and golf facilities, with completion slated for October 2027. The St. Louis-based lender has originated $265 million in C-PACE loans since launching its platform in late 2025 and maintains a pipeline of $140 million under contract expected to close by the end of 2026.

Douglaston Realty Sells 7 Cornelia Street, West Village

Douglaston Realty sold 7 Cornelia Street, a five-story prewar West Village building containing 47 apartments and two ground-floor retail spaces, for $25 million, with the buyer masked behind a shell corporation and a $17.6 million mortgage from Woori America Bank. The property was originally acquired by Douglaston in 2013 for $24.6 million, and investor Hyun Jun An, who signed the mortgage documents, has been involved in recent acquisitions including 893 Broadway in the Flatiron District for $31 million and 16 East 18th Street for $16.3 million.

Redstone Bank, Goldman Sachs, New York State Fund $217M Alafia Project

Apex Building Group and L+M Development Partners secured $217 million in construction financing for the third phase of the Alafia Project in East New York, Brooklyn, which will deliver 273 units of affordable housing and public green space, with funding provided by Redstone Bank, Goldman Sachs Urban Investment Group, New York State Energy Research and Development Authority, and New York State Homes and Community Renewal through Low-Income Housing Tax Credits and tax-exempt bonds. The broader Alafia redevelopment project will ultimately transform 27 acres of the former Brooklyn Developmental Center into approximately 2,600 affordable housing units, a 50,000-square-foot community medical facility with senior health services, and over 20,000 square feet of public green space, with Phase 3 expected to complete in 2029.

Palm Beach County Data Center Applications Paused

The Palm Beach County Commission voted 5-2 to freeze new data center applications in unincorporated areas pending zoning changes, and directed staff to draft a year-long moratorium expected to be finalized the following month, citing concerns about infrastructure impact and resident opposition. The pause affects future proposals but allows one pending 3.7 million-square-foot development called Central Park Commerce Center (Project Tango) on 202 acres in Loxahatchee to proceed with its review.

Siemens Financial, First Horizon $65M Palm Beach Gardens Medical Complex Loan

Siemens Financial and First Horizon provided $64.8 million in construction financing for the Health Park at Avenir project in Palm Beach Gardens, Florida, a hospital and medical outpatient complex fully leased to Jupiter Medical Center. The project, located at 12001 Northlake Boulevard, comprises a two-story neighborhood hospital and three-story medical outpatient building totaling 101,517 square feet, with an approved future phase for 24,000 additional square feet of medical outpatient space.

Rivani Sells Wynwood Jungle Retail Building in Miami for $26M

Real estate investor Robert Rivani sold the Wynwood Jungle retail building in Miami to Tabani Group for $25.7 million, equivalent to approximately $660 per square foot for the 39,000-square-foot property located between 75 and 43 Northwest 23rd Street. The property, which Rivani purchased for $13.3 million in 2021, contains ground-floor tenants including Häagen-Dazs and The Salty doughnut shop, with approximately half of the leasable space available, and was encumbered by litigation involving restaurant operators over lease terms and occupancy disputes.

Mavik Capital $1B Distressed Real Estate Fund

Investment firm Mavik Capital Management is looking to raise capital for a new distress fund. The New York-based firm seeks to raise $1B to acquire distressed commercial real estate assets, Bloomberg reported. The money will go into a new fund called...

Construction Begins on AmEx's World Trade Center HQ

Nearly a quarter century after the 9/11 terrorist attacks leveled the World Trade Center towers, work on the new campus’ final new office tower is underway.

For Lease: 2 Iconic Metroburb Buildings, Prime Office Space, New Jersey

Two historic New Jersey buildings — the iconic Bell Labs headquarters in Holmdel and the former Commvault campus in Tinton Falls — have been reborn as Bell Works and are redefining what an office campus can be. Inspired by Somerset Development reimagined...

SLIB Sale of Development Site in New Jersey

SUCCASUNNA, N.J. — Senior Living Investment Brokerage has arranged the sale of a nine-acre entitled development site located in Succasunna an unincorporated community located in Roxbury Township, roughly 45 miles northwest… The post SLIB Arranges Sale of Development Site in New Jersey appeared first on Seniors…

JLL Arranges $44.5M ReFi for Benchmark's East Village Renovation

NEW YORK CITY — JLL has arranged a $44.5 million refinancing loan for locally based Benchmark Realty Group’s 61-unit property at 194 East 2nd St. in Manhattan’s East Village. Citi… The post JLL Arranges $44.5M ReFi Following Benchmark’s East Village Renovation appeared first on Multifamily & Affordable Housing…

PCCP $66.9M Loan for Active Adult Development, Metro NYC

FAIR LAWN, N.J. — Finance and investment management firm PCCP has provided a $66.9 million loan for the development of a new active adult community located in Fair Lawn, roughly 25… The post PCCP Provides $66.9M Loan for Active Adult Development in Metro New York City appeared first on Seniors Housing Business .

Benchmark, National Development Plan 90-Unit Community on Long Island

EAST ISLIP, N.Y. — Benchmark Senior Living and National Development have acquired a property in East Islip on Long Island, with plans to develop a new seniors housing community at the… The post Benchmark, National Development Plan 90-Unit Community on Long Island appeared first on Seniors Housing Business .

Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx

NEW YORK CITY — Gilbane and partners have closed on financing for 1920 Turnbull, a $170 million, 228-unit affordable and supportive housing project in the Castle Hill/Soundview neighborhood of the… The post Gilbane, Partners to Develop $170M Affordable Housing Tower in The Bronx appeared first on Multifamily &…

Madison Capital $375M Construction Loan, Jersey City Development

JERSEY CITY, N.J. — Walker & Dunlop has arranged a $375 million construction loan to finance JFK Boulevard, a mixed-use project that will be built in Journal Square in Jersey City.… The post Madison Capital Provides $375M Construction Loan for Jersey City Development appeared first on Multifamily & Affordable…

Javeri Capital Manhattan Mixed-Use Purchase

NEW YORK CITY — Bowery Square Corp. has sold 196 Bowery, a mixed-use property in Manhattan’s NoLita neighborhood, to Javery Capital for $11.4 million. The eight-story, 13,000-square-foot building sits on… The post Javeri Capital Buys Manhattan Mixed-Use Property for $11.4M appeared first on Multifamily & Affordable…

New York Legislature Passes Bills on Major National Issues

Like other legislatures around the United States, the New York State Legislature spent the first half of this year considering policy on controversial topics that affect commercial real estate development. When both chambers adjourned their 2026 legislative session in early June, two bills they had passed…

NJEDA $35.3M Tax Credits for Northeast New Jersey Project

TOTOWA, N.J. — The New Jersey Economic Development Authority (NJEDA) board has approved $35.3 million in tax credits for a new seniors housing project in Totowa, roughly 20 miles northwest of… The post NJEDA Approves $35.3M in Tax Credits for Project in Northeast New Jersey appeared first on Seniors Housing…

Madison Realty Capital $480M Loan for Midtown Manhattan Office-to-Residential Project

NEW YORK CITY — Madison Realty Capital has originated a $480 million loan for the office-to-residential conversion of 1740 Broadway in Midtown Manhattan. Yellowstone Real Estate Investments was the borrower,… The post Madison Realty Capital Originates $480M Loan for Midtown Manhattan Office-to-Residential Project…

Berkadia $126.4M ReFi for Two Clinton Park, New Rochelle

NEW ROCHELLE, N.Y. — Berkadia has arranged a $126.4 million refinancing loan for Two Clinton Park, a 28-story, 390-unit luxury tower in New Rochelle that was completed in 2024. The… The post Berkadia Arranges $126.4M ReFi for Two Clinton Park in New Rochelle, New York appeared first on Multifamily & Affordable…

Rockrose $69.5M West Village Refinancing

NEW YORK CITY — JLL Capital Markets has arranged a $69.5 million Freddie Mac refinancing loan for 100 Jane, a 148-unit property in Manhattan’s West Village neighborhood. The borrower was… The post Rockrose Obtains $69.5M Refinancing for West Village Asset appeared first on Multifamily & Affordable Housing Business…

MonticelloAM $36.5M Bridge Loan for Massachusetts Community

NEW YORK CITY — MonticelloAM has provided a $36.5 million bridge loan for the acquisition of a senior living community located in Massachusetts. The borrower was not disclosed. The property totals… The post MonticelloAM Provides $36.5M Bridge Loan for Community in Massachusetts appeared first on Seniors Housing…

National Development, Benchmark Underway on 87-Unit Community in New Jersey

EAST BRUNSWICK, N.J. — A joint venture between National Development and an affiliate of Benchmark Senior Living is currently underway on the development of a new community in East Brunswick. Upon… The post National Development, Benchmark Underway on 87-Unit Community in New Jersey appeared first on Seniors Housing…

New York's Return: AI's Complication – Savills' Gabe Marans

New York Office Market Posts Strongest Recovery of Any Major U.S. Market New York office rents have climbed 28.5% from […] The post New York Is Back. AI Is Complicating It. – Podcast Recap with Gabe Marans of Savills appeared first on CompStak .

Azorim $68.75M Construction Loan for Yonkers Apartment Tower

Construction loan arranged by Walker & Dunlop.

Extell's $417M Loan for 570 Fifth Ave Development

Replaces a $340M JPMorgan loan from February 2020.

Two Trees, M&T Bank $460M Construction Loan for 280 Kent, Williamsburg

Replaces an $89M prior M&T Bank construction loan on the same site.

RXR Secures $407M Refinancing for 450 Lexington Avenue

Replaces a $272M mortgage; part of a ~$730M repositioning of the tower.

Citigroup Refis Benchmark's East Village Apartment Building With $44.5M CMBS Loan

Brookfield, QIA Land $1.9B CMBS Refi on 2 Manhattan West

Soloviev Group $1.8B CMBS Refi, 9 West 57th Street

Wells Fargo Refinances Global Holdings' 1250 Broadway With $450M CMBS Loan

Brookfield Properties Refinances 225 Liberty Street With $800M CMBS Loan

Schedule for Week of January 11, 2026

The key reports this week are December CPI, Existing Home Sales and November Retail Sales. Also, New Home Sales for September and October will be released. For manufacturing, the December Industrial Production report and the January New York and Philly Fed manufacturing surveys will be released. …