University Hospital (UH), in Ohio, acquired full ownership of a medical clinic property it had previously leased since its 2021 acquisition of the Lake Hospital System. The purchase, which covers three parcels totaling 78,838 square feet, allows UH to exit a long-term third-party lease, providing financial benefits. The seller was MMAC-FCA BEACHWOOD LLC, controlled by Montecito Medical, a Nashville-based medical real estate finance and investment firm.
Five commercial real estate units at Mohawk in Wynwood, Miami were purchased for $14 million in cryptocurrency, marking the first time commercial real estate units have been sold for cryptocurrencies in the Miami market. The units are being developed by Rilea Group, which has expanded settlement options for its projects to include compliant digital asset services.
Union Investment, the asset-management arm of Germany’s DZ Bank Group, listed the 1.2 million-square-foot office tower at 140 Broadway in New York’s Financial District for sale, with an asking price near $400 million. The 51-story building is 73% leased, and has undergone $160 million in renovations over the past decade. Union Investment originally acquired the property in 2004 for $465 million.
CBRE arranged a $35.5 million Freddie Mac permanent loan for The Essex, a newly built 158-unit multifamily property in Belleville, New Jersey. The four-story building features studio, one-, and two-bedroom units, along with amenities such as a fitness center, rooftop courtyard, resident lounge, coworking pods, and more.
GFP Real Estate secured an $83 million refinancing loan for its fully leased office and retail property at 100 Crosby Street in SoHo, Manhattan. The new debt package was provided by TD Bank and Bank of New York Mellon (BNY), replacing a previous $100 million loan from 2015.
Apollo provided $220 million in floating-rate construction and redevelopment financing for the residential conversion of 101 Greenwich Street, a 26-story former office building in Downtown Manhattan. The property, acquired by Quantum Pacific and Metro Loft Management for just over $100 million from BGO in February 2025, will be converted into 600 residential units. Newmark brokered both the financing and the sale.
Large financial services firms are actively seeking high-quality office space in Midtown Manhattan, particularly along Park Avenue, signaling ongoing momentum in the commercial real estate market. Société Générale is considering relocating from its current lease at 245 Park Ave. (expiring 2032) to new developments such as Vornado Realty Trust's 15 Penn Plaza, RXR Realty and TF Cornerstone's 175 Park Ave., or BXP and the Moinian Group's 3 Hudson Blvd., while also weighing the option to remain at its current location. The demand for premium office space is high, with recent expansions by firms like Citadel and Blue Owl Capital, and JPMorgan Chase investing approximately $1 billion to renovate the former Bear Stearns offices.
In 2025, investments in New York City office assets increased by 30% to $11 billion, signaling renewed momentum in the commercial real estate market. Major transactions included the $1.1 billion sale of 590 Madison Avenue to RXR, the $510 million sale of the Sotheby’s building at 1334 York Avenue to Weill Cornell medical school, and the $273 million sale of 2 Grand Central Tower to Sovereign Partners. Additionally, office-to-residential conversions are reshaping Manhattan’s office inventory, with 75 projects representing about 34 million square feet, primarily in Lower Manhattan due to favorable zoning and building layouts.
Brooklyn's commercial real estate market saw significant activity in development sites and special-use properties in 2025, with development site dollar volume rising 24% to $1.1 billion and special-use volume increasing 10% to $606 million. The largest transaction was Fetner Properties, MCB Real Estate, and Farallon Capital Management's $210.5 million purchase of a multifamily building at 240 Willoughby St. Mixed-use properties led in overall dollar and transaction volume at $1.8 billion across 445 deals, though both figures declined from 2024. Multifamily sector transactions increased 12% to 309 deals, but dollar volume dropped 23% to $1.6 billion.
Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, closed two loans totaling $88.4 million to refinance three apartment communities in Alabama and North Carolina. The loans, arranged by Sevenstone Capital and Dwight Mortgage Trust, are five-year, fixed-rate loans used by private high-net-worth investors to refinance existing debt, cover transaction costs, and fund interest reserves.
CBRE brokered the sale of Nassau Park Pavilion, a 760,765-square-foot power center in Princeton, N.J. The property, anchored by Wegmans and featuring tenants such as Target, Home Depot, and Five Below, was sold by SITE Centers Corp. to Bridge 33 Capital.
A federal judge approved Summit's $451 million acquisition of a large, distressed New York City residential real estate portfolio that recently emerged from bankruptcy. Summit was the stalking-horse bidder, supported by creditors seeking to monetize the stalled assets. The portfolio, which has thousands of unresolved housing violations including fire and electrical safety issues, lack of heat and hot water, mold, and elevator malfunctions, will be closely monitored by New York City agencies post-sale.
Atlas Capital Group acquired a 13-story, 100,000-square-foot mixed-use building at 250 East Houston Street in Manhattan's East Village for $112 million from Dermot Company and Rockwood Capital. The property includes 130 apartments and 9,000 square feet of retail space. The deal was brokered by JLL.
CBRE brokered the $76.5 million sale of Chappaqua Crossing, a 120,986-square-foot shopping center in Westchester County, New York. The property, part of the redevelopment of the former Reader’s Digest headquarters, features major tenants such as Whole Foods Market, Life Time Fitness, Starbucks, and Chase Bank. CBRE represented the seller, Heitman, and secured Barings as the buyer.
MacKenzie Commercial Real Estate Services brokered the $57.5 million sale of Normandy Shopping Center, a 185,000-square-foot grocery-anchored retail center in Ellicott City, Maryland. The property, spanning 25 acres across three parcels and featuring over 45 tenants was sold by Normandy Venture. The center includes a nearly 6-acre undeveloped lot for future expansion.
Camber Real Estate Partners and PGIM Real Estate acquired a portfolio of seven industrial buildings totaling 745,270 square feet across the Baltimore region, including properties in Halethorpe, Jessup, Middle River, Rosedale, and Baltimore. The portfolio is leased to 17 tenants from various industries, providing a stable, multitenant income stream.
Ken Griffin, in partnership with Goldman Properties, acquired the 10-story office building 545 Wyn in Miami's Wynwood neighborhood for $180 million. The property includes approximately 298,000 square feet of office space and 26,340 square feet of ground-floor retail. The seller, Sterling Bay, completed the building in 2020 after purchasing the site for $4.2 million in 2018 and securing $47 million in construction financing. Blackstone refinanced the property in 2022 with a $135 million loan. Eastdil Secured brokered the sale.
Newmark brokered the $425 million sale of The Shops at Skyview, a 555,000-square-foot retail center in Flushing, Queens. The center, anchored by BJ’s Wholesale Club and Sky Foods, was 97% leased at the time of sale. Notably, Newmark also secured a $289 million acquisition loan for the buyer, a JV between Acadia Realty Trust and TPG Real Estate, through Mizuho.
ProX, a manufacturer of hard-sided packing cases, received $28.2 million in acquisition financing to buy an 80,000 square-foot industrial condominium within a logistics complex on Staten Island. The $33.3 million acquisition was financed with a $24.9 million senior loan from BankUnited and a $3.3 million loan from Pursuit via the SBA 504 program. Meridian Capital Group brokered the deal.
Univest Bank & Trust Co. provided a $19.6 million construction loan for the conversion of a vacant 156,000-square-foot office building at 7 Campus Drive, Parsippany, N.J., into a 128,150-square-foot industrial facility. The redevelopment will feature 36-foot clear heights, 23 dock doors, two drive-in doors, and 103 parking spaces. Cushman & Wakefield arranged the financing, and the borrower is a partnership between Saxum Real Estate and Penwood Real Estate Investment Management.
The Davis Companies acquired four office buildings in Boston’s Fort Point neighborhood, expanding its commercial real estate holdings in the city. The properties were acquired from Nuveen. The portfolio includes 34, 38, and 44 Farnsworth St., along with 332 Congress St., and totals 151,714 square feet. The buildings are currently 94% leased. Financial terms of the transaction were not disclosed.
The Ardent Cos. acquired Perimeter Place, a 360,000-square-foot retail property in Atlanta’s Central Perimeter submarket. The company plans goal to redevelop the location into a mixed-use development. The project will focus on enhancing walkability and accessibility, improving the tenant mix, leasing vacant space, and adding a multifamily component.
The loan is for the office towers at 535-545 Fifth Ave. 535 Fifth is a 36-story, 330,000-square-foot building, while 545 Fifth runs 14 stories and 180,000 square feet. The buildings were 90% occupied and tenants are a mix of different retail outlets.
The company purchased a majority of Spark LS, a 106-acre life sciences campus in Raleigh. The sale covers six parcels, including two advanced manufacturing facilities, totaling 80 acres. The company plans to occupy more than 400,000 square feet of existing space and an in-construction building totaling 866,000 square feet that will be built by 2027.
The firm parted with The Shops at Evergreen Walk, a 400,000-square-foot lifestyle center in Windsor. A JV between Brand Street Properties and Barings acquired the property. Anchored by Whole Foods Market, The Shops at Evergreen Walk features a mix of additional tenants including L.L. Bean, Apple, Anthropologie, Pottery Barn, Sephora, lululemon, Nike and Williams-Sonoma.
A JV between Namdar Realty Group and Empire Capital Holdings will use the loan to convert the 13-story building at 830 Third Ave. The building will be converted into 188 rental apartments with a robust amenity program. Built in 1958, the property was renovated in 1994 and currently consists of 147,101 rentable square feet, with 139,980 rentable square feet of office space and 7,121 square feet of ground-floor retail space.
Empire State Realty Trust bought Metro Center, located at 1 Station Place in Stamford, for around $70 million. HB Nitkin plans to execute tenant experience-focused upgrades, including a makeover of the building's common areas. Metro Center is eight stories and spans 281,928 square feet with amenities including a fitness center, a conference center, a lounge with a golf simulator and a restaurant.
The loan is for the refinancing of a portfolio of five multifamily properties totaling 60 units in Manhattan. The properties, which collectively include seven retail spaces, are located at 301 E. 90th St., 714 Greenwich Ave., 723 11th Ave., 746 9th Ave. and 407 Amsterdam Ave. The portfolio owners, Ed and Michael Ostad, purchased the buildings in 2024.
The loan is for the refinancing of a 618,048-square-foot industrial building in Brewster, New York. Building B @ Interstate Crossings was completed in 2025 and features a clear height of 40 feet. The loan includes funding for future components.
The loan is for 515 Madison Ave., a 350,000-square-foot office building in Manhattan. GFP Real Estate uses the property as its headquarters. The building was 99% leased at the time of the deal. Built in 1932, the property is also known as the DuMont Building and underwent upgrades in 2009, including entrance and lobby renovations.
The firm sold 1001 Tyvola, a 297-unit community in Charlotte, North Carolina to Community Solutions. Completed in 2023 by Arlington Properties, the property consists of four four-story buildings across a 10-acre site. Located at 2051 Establishment Way, community amenities include a fitness center, business center, clubhouse, swimming pool and grade-level parking with more than 340 spaces.
A JV between Bain Capital Real Estate and Capitol Seniors Housing obtained the loan for The Chelsea at New City in New City and The Chelsea at Washington Township in New Jersey, two senior housing communities totaling 165 units. On-site amenities at both properties include beauty and barber salons, sports lounges and health and wellness programs. The Chelsea at New City, completed in 2021, offers 80 assisted living, memory care and respite care living arrangements, and the 2023-built The Chelsea at Washington Township spans 85 assisted living and memory care units.
The loan is for the refinancing of Plaza 44, a 168,000-square-foot, grocery-anchored shopping center in Poughkeepsie. Regional grocer Stop & Shop anchors the center. Capstone Realty Group plans to reposition the center and market the property for sale.
A JV between GFP Real Estate and BDT & MSD Partners have invested $150 million to redevelop 1540 Broadway, a 907,000-square-foot office tower in Times Square. The renovations on the tower, which was completed in 1990, are expected to be complete by late 2026. The renovation will feature extensive interior improvements and the inclusion of more than 45,000 square feet of amenities across two levels of the building.
The firm purchased SilverLake Apartments, a 232-unit community in Belleville, New Jersey. SilverLake Apartments, located at 155 & 165 Belmont Ave. in Belleville, Essex County, was nearly 94% occupied at the time of sale. Built in 2021, SilverLake comprises two five-story buildings with studios, one- and two-bedroom units and amenities such as a lounge, outdoor courtyard, fitness center and business center.
The company acquired City Center Crossing, a 98,408-square-foot grocery-anchored shopping center in Atlanta. The center was fully leased at the time of sale. The seller was First National Realty Partners.
The buildings at 181 Court St. and 131 Smith St. were sold to Moshe Koplowitz, with Court St. selling for $6.9 million and Smith St. for $7.9 million. The pair of mixed-use buildings, both of which contain apartments on the upper floors, is maintained by boutique property management firm Arya Management. Both the retail and residential portions of these buildings are completely occupied.
The loan is for the refinancing of Millburn Village, a 71,177-square-foot shopping center in Vauxhall. Tenants at Millburn Village include Walgreens, Staples and Five Guys, among others. Lightstone originally acquired Millburn Village in 2003.
The firm purchased a 1.4 million-square-foot Mid-Atlantic micro-bay industrial portfolio from a group of unnamed private sellers. The portfolio includes 50 individual buildings and 600 tenants in the Baltimore-Washington corridor and Northern Virginia. Current tenants include local and regional distribution, light industrial, service-oriented and last-mile logistics uses.
Astor Companies sold Douglas Enclave, an 11-story building at 61 Northwest 37th Ave., for $341,700 per unit. The 325,740-square-foot development was built in 2023. Tandel Group used a $36.5 million loan from City National Bank of Florida to make the purchase.
The loan is for the refinancing of a portfolio of five multifamily properties totaling 541 units in New Jersey and New York. The New Jersey properties include Spring Gardens Apartments in Summit, Omni Apartments in Bergenfield, Arcadia Court Apartments in Hackensack and Park Engle Apartments in Englewood. The fifth, unnamed property is located in Montgomery, New York.
The company purchased the five-story, 32,400-square-foot landmark building at 61-63 Crosby St. in Manhattan's SoHo. The seller was Blackstone. The commercial office building is home to an outdoor apparel and accessories retailer.
The loan is for the acquisition and partial conversion of the 508-room Marriott Stamford hotel in Connecticut. Clearview Hotel Capital will use a portion of the proceeds to convert one of the hotel's two towers, which were built in 1975 and 1985, into a residential complex with studio, one- and two-bedroom units. The other tower will be renovated and relaunched as a modernized hotel.
The company sold the 177-key Holiday Inn Express Manhattan Midtown West hotel, located at 538 West 48th St., to TSQ Hotel. Roufail Real Estate Holdings bought the 11-story hotel in 2014 for $16.5 million. No other details on the sale were provided.
SL Green lined up a $480 million, five-year mortgage to fund its $730 million acquisition of Park Avenue Tower from Blackstone. The 36-story, 600,000-square-foot office building is 97% leased and was recently renovated. SL Green said the loan advances its broader plan to execute $7 billion in financings in 2026 as office market risk remains elevated.
The loan is for Emerald Bay, a 311-unit apartment community located in Miami. The loan will retire existing debt, cover closing costs and fund future capital improvements. Completed in 2023, Emerald Bay spans seven residential buildings and comprises one-, two- and three-bedroom units with amenities including a swimming pool, fitness center, coworking space, outdoor common areas and more.
The developer scooped up 461 10th Ave., a 6-story, 44,500-square-foot commercial building in Hudson Yards. An event venue and a production company fully lease the building. The seller was Dagyam 467 10th Ave., who has owned the building since 1986.
The company purchased the mixed-use buildings at 247 East 31st St. and 563, 567 and 569 Second Ave. in Manhattan, all sold by Dean Marchi. New Empire didn't divulge their plans for the properties, which currently consist of around 60 residential units and several retail spaces. All four buildings were renovated in 2022.
The developer sold its recently developed industrial building located at 999 Willow Grove St. in Hackettstown. The buyer was Bytech, a mobile accessories manufacturer. The building features 28- to 32-foot clear ceiling heights, four loading doors and one acre of outdoor storage.
The developer purchased a 2.5-acre parcel of land near John F. Kennedy International Airport in Springfield Gardens from New York City Economic Development. An L-shaped slice of vacant land off Rockaway Blvd., near 145th Ave., Wildflower intends to build a 65-charger facility on the site, which should be finished by 2028. The developer added the project will help the city fulfill its goal of creating 400,000 "green collar" jobs by 2040.
The Renaissance Charter Schools acquired the five-story, 67,286-square-foot building at 45-20 83rd St. A build-to-suit property, Renaissance will continue to lease the land beneath the property from Barone for a term of 55 years. Neither party commented on the sale.
The firm purchased a 945,000-square-foot office park in Norwalk, Connecticut, consisting of four mid-rise buildings. The four assets are part of Merritt 7, a 1.5 million-square-foot, six-building complex. Developed over time from 1985 to 2000, the property serves as headquarters for Xerox, EMCOR Group, Terex and Hearst Connecticut Media Group, among other tenants. New York State Teachers’ Retirement System was the seller.
A JV between Crescent Communities and Faison sold the Elizabeth on Seventh, a mixed-use office and retail property located at 1942 E. 7th St. in Charlotte, to Invesco Real Estate. Built in 2022, Elizabeth on Seventh is a four-story property featuring three levels of office space above ground-floor retail. The property was 88.3% leased at the time of sale.
The firm acquired a portfolio of nine commercial properties in Rego Park, Queens. Sold by Imperial Serling, the locations include 95-60 63rd Dr., 95-40 Queens Blvd., 95-38 Queens Blvd., 63-73 Saunders St., 96-42 Queens Blvd., 94-18 63rd Dr., 95-05 63rd Dr., 95-02 63rd Dr. and 95-14 63rd Dr. The portfolio covers 90,000 square feet of retail space along three blocks of Queens Blvd and includes 34 tenants.
The loan is for the acquisition of Tampa Bay Center, a 149,375-square-foot shopping center in Tampa. Tampa Bay Center is fully leased to 10 tenants including Floor & Décor, Ashley Furniture, Dollar Tree, The Tile Shop and T-Mobile. The seller was undisclosed.
The firm purchased Ives Plaza, a 56,841-square-foot shopping center located in Miami Gardens. R&E Trust Partnership was the seller. Developed in 1955 on nearly 6.5 acres, Ives Plaza was 66% leased at the time of sale to 15 tenants.
The loan is for the refinancing of 1105 West Peachtree, a 31-story office tower in Midtown Atlanta. The 653,525-square-foot tower was nearly fully leased at the time of financing to Google and a law firm. Built in 2021, 1105 West Peachtree features an amenity deck and is linked to a neighboring hotel and a condo tower.
A JV between URSA Development Group and Fields Grade landed permanent financing for their 336-unit multifamily property in Jersey City, dubbed The Devan. Located at 3 New York Ave. The property was built in 2024. Amenities at The Devan include a rooftop lounge with New York City skyline views, a high-end fitness center and coworking lounges, as well as an courtyard with a pool, a private dog run and dog wash.
The loan is to refinance the 20-story 100 Fifth Ave. property that Sovereign acquired for $126.5 million in 2023. Since Sovereign's acquisition, the 277,000-square-foot building has been regularly 100% occupied. No other details on the property or the loan were provided.
The company bought the Avant Gardner entertainment complex in East Williamsburg, Brooklyn. The site is located at 140 Stewart Ave. The seller of Avant Gardner wasn't disclosed and Five Holdings didn't divulge its plans for the site.