Commercial Observer’s Post

Crunch Fitness is coming to Inwood after signing a 20-year lease for 20,000 square feet on the lower level of The Jay Group’s 401 West 207th Street. Read more about the deal: https://lnkd.in/eDig_N-r Pictured: Chequan Lewis, President of Crunch #RealEstate #CommercialRealEstate

Columnist Adam Briones (pictured), CEO of California Community Builders, on how a little-known corner of the lending industry can help our housing crisis. Read more: https://lnkd.in/egJj5ggg #RealEstate #CommercialRealEstate

Hackman Capital Partners, LLC has formed a new partnership with developer Laurie Samitaur Smith to manage the Conjunctive Points portfolio, a cluster of commercial buildings in and around the Hayden Tract neighborhood of Culver City, California. Read more on the deal: https://lnkd.in/e-eiywFv Pictured: Michael Hackman, Founder and CEO of Hackman Capital Partners

MADDD Equities has partnered with Joy Construction Corp and supermarket chain Food Bazaar to purchase a development site in the Bronx for $22.6 million from from Peter Fine’s Atlantic Development Group. Read more: https://lnkd.in/eRBnf_Ck Pictured: Eli Weiss, Principal at Joy Construction #RealEstate #CommercialRealEstate

Apartment Investment and Management Company has secured $172 million in construction financing from Apollo Global Management, Inc. to develop The Hamilton, a 144-unit luxury residential tower in Miami’s Edgewater neighborhood. The deal includes $56 million in preferred equity from Sixth Street. Read more: https://lnkd.in/evqTfsa4 Pictured: Marcos Alvarado, Partner & Head of U.S. Real Estate at Sixth Street #RealEstate #CommercialRealEstate

Lennar Homes, one of the country’s largest homebuilders, has paid $52.5 million for a 75-acre site at 15990 Loxahatchee Road in Parkland on the edge of Florida’s Broward County. Read more: https://lnkd.in/ec9ngUYQ Pictured: Lennar Executive Chairman & CEO Stuart Miller #RealEstate #CommercialRealEstate

Uptown institution Rosa Mexicano Restaurants is moving from 61 Columbus Avenue to the neighboring Empire Hotel. The restaurant signed a 15-year lease for 12,000 square feet across the entire second floor of Joseph Chetrit and the Podolsky family’s hotel at 1889 Broadway. Winick Realty Group’s Jeff Winick (pictured) represented the landlord along with Yoel Gorjian (pictured). https://lnkd.in/expASn9X

Developer Daniel Moore has nabbed $31.5 million of agency-backed debt to refinance an apartment complex in a suburb north of Salt Lake City, Utah. Dwight Capital provided the U.S. Department of Housing and Urban Development 223(f) loan on Fox Creek Apartments in Layton, Utah. Read more: https://lnkd.in/eahNwknj Pictured: Dwight Capital's Josh Sasouness and Adam Sasouness #RealEstate #CommercialRealEstate

Gencom has acquired the Thompson Central Park New York hotel for between $300 million and $310 million. Ramsfield Hospitality Finance and funds managed by AB CarVal and Affinius Capital provided Gencom with a $230 million loan for the 588-key hotel at 119 West 56th Street in Midtown Manhattan. Read more: https://lnkd.in/eGtPgjxv Pictured: Gencom founder Karim Alibhai #RealEstate #CommercialRealEstate

NYC Comptroller Brad Lander (pictured) — who announced in July he was running against Eric Adams for mayor — has unveiled a four-point plan that he claims would leave less room for corruption and nepotism in the city's contracting process. Read more: https://lnkd.in/eRGF5xPs #RealEstate #CommercialRealEstate