IPA Capital Markets, a division of Marcus & Millichap, announced the refinancing of 580 Broadway, a 12-story Class A office and retail property located in Soho, Manhattan. The refinancing package totaled $50 million. The building was constructed in 1900 and is located between Houston and Prince Streets. Maxi Capital Group, Sabal Investment Holdings, and GDSNY provided the $50 million office loan for the project.
Permits have been filed for a four-story residential building at 3530 Willett Avenue in Olinville, The Bronx. Located between East 213th Street and East Gun Hill Road, the lot is one block from the Gun Hill Road subway station, serviced by the 2 and 5 trains. Kodra Construction is listed as the owner behind the applications.
Construction is nearing topping out on 1026 Third Avenue, a 24-story residential building in the Lenox Hill section of Manhattan’s Upper East Side. Designed by Ismael Leyva Architects and developed by Kahen Properties, which purchased the assemblage of three adjacent properties for $34 million in July 2022, the 273-foot-tall structure will span 100,000 square feet and yield 81 rental units with an average scope of 1,200 square feet, as well as ground-floor retail space, a fitness center, and a top-floor banquet space. Third North Holdings LLC is listed the owner of the property, which is located between East 60th and East 61st Streets.
Invictus Real Estate Partners, a New York-based vertically integrated real estate private equity company, has announced the closing of a $69 million pre-TCO bridge loan for the Mason Gray, a residential property at 959 Sterling Place in Crown Heights, Brooklyn. The loan will support the completion of minor construction work on the seven-story building, allowing leasing to begin. Walker & Dunlop’s Mike Diaz and Aaron Appel arranged the financing for the project, which was developed by Hope Street Capital.
The affordable housing lottery has launched for The Dupont, a 41-story residential building at 16 Dupont Street in Greenpoint, Brooklyn. Designed by GKV Architects and developed by Rockefeller Group and Park Tower Group, the structure yields 381 residences. Available on NYC Housing Connect are 109 units for residents at 80 to 130 percent of the area median income (AMI), ranging in eligible income from $64,012 to $218,010.
