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New York/Tri-State People and Company News, week of June 14, 2024
- Freestone Property Group has appointed Prashanth Rayapudi as president. Rayapudi, with Freestone since 2021, will lead expansion strategies and focus on enhancing resident experiences. In his new position, Rayapudi will lead the firm’s expansion strategy, focusing on diversification, enhancing resident experiences, and increasing growth and scale.
- George Rupp has joined G4 Capital Partners LLC as managing director of Capital Formation and Investor Relations. With over 25 years of experience, Rupp will oversee the firm’s client franchise and investor partnerships, managing existing bases and cultivating new relationships.
- Greystone Monticello has hired Sean Bryce as director, focusing on originating multifamily bridge loans. With 12 years of experience in commercial real estate debt investments, Bryce joins from Voya Investment Management and will report to Eric Baum.
- LeFrak has unveiled its latest rental offering, Bisby, in Jersey City’s Newport neighborhood. This launch follows the developer’s signing of 27,000 square feet of new retail space. The 34-story building features 385 homes ranging from studios to four-bedroom penthouses. Building amenities including a 33,000-square-foot rooftop,a pickleball court, outdoor fitness space, dog run, sun deck, fire pit and outdoor kitchen with barbeque grills, coworking center and fitness center.
- Focus Property Group, part of JEMB Realty, has launched leasing for One Park Point, a 13-story rental in Brooklyn’s Windsor Terrace. The building features 375 units ranging from one- to two-bedroom homes. Amenities including a fitness center, two rooftop terraces, a pizza oven, fire pits, a library, a children’s playroom, co-working spaces, and a landscaped courtyard.
- Manhattan Neighborhood Network (MNN) has acquired the 3rd and 4th floors of 509 West 38th Street and plans to turn the space into a media and education center in Hudson Yards. Complete with facilities and expert instructors, the NYC Center for Media Education offers professional training and community resources. MNN engaged Kostow Greenwood Architects to complete the architecture and interiors
- Choice Hotels International, Inc. is expanding its Everhome Suites brand with new groundbreakings in Portsmouth, New Hampshire; Rochester, New York; and Somerset, New Jersey, in collaboration with Highside Companies. With over 480 hotels open and 400 properties in the pipeline, Choice looks to cater to both business and leisure travelers.
- Larken Associates has secured a 3,082-square-foot medical office lease with Center for Vein Restoration (CVR) at Montgomery Professional Center in Skillman, N.J. CVR, a vascular care provider, will expand its services. Larken Associates was represented by Victor Kelly of Raider Realty, the firm’s in-house brokerage team, and CVR was represented by Paragon Real Estate in the transaction.
- Marcus & Millichap has closed a $6.5 million sale of a net-leased Wawa property in Lakehurst, New Jersey. The property, built in 2023, features a 20-year lease, 16 fuel pumps, and a convenience store. Dougherty, Scott Woodard, Mark Krantz and Nick Geaneotes of Marcus & Millichap had the exclusive listing to market the property on behalf of the seller, and procured the buyer. John Horowitz, Broker of Record in New Jersey, assisted in closing the transaction.
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