REALM, in partnership with Delshah Capital and A.M. Properties, has acquired CitySpire, a 377,000-square-foot office condominium comprising 24 floors within the 70-story tower at 156 W 56th St. in Midtown Manhattan. Purchased at an 8.5% cap rate, the 98% occupied property features renovated common areas, high-end finishes and a roster of tenants including Caleres, Windels Marx Lane & Mittendorf, LLP and New York Road Runners. 

Built in 1987 and maintained by institutional ownership, the property has undergone approximately $22 million in capital improvements and requires no near-term capital expenditures, REALM said, noting that. Manhattan office leasing activity reached pre-pandemic highs in late 2025. 

“CitySpire represents the type of opportunity we seek in today’s market,” said Travis King, founder and CEO of REALM, an investment collective of 130 family offices. “While capital markets remain cautious on office, we see strong fundamentals in premier Midtown assets, where leasing activity and occupancy continue to outperform. CitySpire reflects our focus on highly selective investments with strong downside protection and long-term upside.”  

Adelaide Polsinelli, vice chairman, and Trystan Polsinelli, senior executive director of Compass Commercial, finalized the sale of a 16,000-square-foot retail condo with 160 feet of wraparound frontage located at 350 6th Ave., also known as 88 Washington Pl., on the northeast corner of Sixth Avenue in Greenwich Village.

The property was sold for $16.5 million to an NYU-affiliated community center and preschool operator. The sale included two separate condo units spanning the ground floor and second floor of the property.

The sale not only activated a prime thoroughfare that had remained vacant since the pandemic but also provided the purchaser with a premier location for educational use, according to Adelaide Polsinelli.

“This high-profile property’s location and features made it one of the most sought-after assets in the area,” said Adelaide Polsinelli. “Its versatility, paired with proximity to transportation and historic landmarks, offered an unparalleled opportunity for the buyer to expand their community presence.”

Marcus & Millichap closed the sale of a retail condominium at One Vandam, located at 180 Sixth Ave. in New York’s SoHo neighborhood. The property, which spans 14,072 square feet, was sold for $7.3 million. 

“New York City’s retail market continues to show resilience,” said Eric Anton. “Through our Global Capital Group efforts, we identified an international buyer from Asia for this well-located property, reflecting ongoing demand for prime retail spaces in the city.” 

Anton along with Marcus & Millichap’s Nelson Lee, Trever Gallina and Justin Natalizio marketed the property on behalf of the seller, QT SoHo Realty LLC. They also procured the buyer, a private Chinese investment group. 

The retail condo comprises four units, three of which are leased to tenants including Sui Yoga, Tribeca Soho Animal Hospital, and J’Spa. The property features 140 feet of frontage along Sixth Avenue, between the SoHo and Hudson Square neighborhoods. 

Two Trees Management announced the opening of One Domino Square, the first condominium tower to open at Two Trees’ Domino Sugar factory site on the Williamsburg waterfront in Brooklyn. Located at 8 S. 4th St., One Domino Square features connected 55-story and 39-story towers.

“The building is unlike anything else on the market – and our sales and leasing velocity show that consumers do know and appreciate the difference between a spectacular product and its more generic competition, ” said Jed Walentas, CEO of Two Trees Management. “We are thrilled not only with the execution of this project – with its porcelain façade, jaw-dropping amenities and stylishly appointed homes – but we also greatly appreciate how well One Domino Square meshes with its neighbor buildings throughout the Domino site.”

One Domino Square anchors the Domino Sugar Factory campus, an 11-acre waterfront site. It features condominiums and rental apartments, and more than 45,000 square feet of top-of-the-line indoor and outdoor wellness and recreation amenities spread across five floors.

Alexander’s, Inc. has completed a $400-million refinancing of the office condominium portion of 731 Lexington Ave., the Class A Bloomberg LP headquarters building in Midtown Manhattan. The loan replaces the prior $490-million loan on the office condo, which bore interest at the prime rate (currently 8.00%) and was scheduled to mature this month.

The interest-only loan carries a fixed rate of 5.045% and matures in October 2028. The loan is prepayable, at Alexander’s option, with no penalty, beginning in October 2026.

The refi follows Bloomberg LP’s 11-year extension of its 946,815-square-foot headquarters lease, comprising the entirety of the office space at 731 Lexington, this past May. It also follows a trip to special servicing for the prior loan, which originally was due to mature in June.

Vornado Realty Trust, which owns a 32.5% share of Alexander’s, developed 731 Lexington in 2005 on the site of a former Alexander’s department store.

Avison Young arranged a $24-million first mortgage refinancing of a retail condominium at 30 E. 85th St. on Manhattan’s Upper East Side for an affiliate of owner/developer The Zucker Organization. The 35,000-square-foot, multi-tenanted property is fully leased, with tenants including an E by Equinox location on the second floor.

The Zucker Organization was represented by Avison Young’s Tri-State Debt & Equity Finance Team, led by principal & co-lead Scott A. Singer, executive director Kevin Swartz, senior director Jeffrey Moroch and associate director Andrew McNulty. The team arranged the 10-year loan with JPMorgan’s CMBS platform, and proceeds will be used to repay the existing loan. The retail condo is managed by Manhattan Skyline Management, a division of The Zucker Organization.

Located in a prime retail corridor of Madison Avenue between 84th and 85th streets, the building was developed by The Zucker Organization in 1987 and the two-story retail portion has maintained consistently high occupancy.

WheelHouse is adding 49 garage condos to its newest site at 950 Cross Town Drive. It already has locations in San Pablo and near Palm Valley Road. WheelHouse is building out its new Ponte Vedra Beach location, receiving several building permits from St. Johns County on Monday.

The company has received building permits totaling $2.5 million to build its latest offering in five buildings, ranging in size from 5,000 to 15,000 square feet. The Jacksonville Business Journal reports that of the 49 condos to be built, only eight remain available. The prices range from $250,000 to $375,000. WheelHouse handles the permits and construction, and then the buyer can build out the inside as they see fit.

The climate-controlled, and customizable units offer car and boat enthusiasts a secure location to store, display and play with their luxury vehicles. WheelHouse has a fully enclosed perimeter, video monitored 24/7, and two gated access drives.

Bosa Development, a Vancouver-based development firm, has proposed new plans to transform parts of the Lake Washington shoreline in Renton.

Bosa unveiled its vision for a mixed-use waterfront campus that includes 23-story condominium towers with approximately 850 condominiums, reported the Puget Sound Business Journal. The project site is a 21-acre parcel positioned just south of the Seattle Seahawks’ Virginia Mason Athletic Center. Previous plans for the site envisioned six-story residential buildings comprising 692 units.

The firm has been meeting with Renton residents about the company’s plans. “Bosa Development hasn’t purchased the property yet but is seeking input from those closest to the site on some design schemes. At this stage, we are still gathering feedback from the community. As a courtesy to them, it’s too early to share anything,” Bursey told the Journal. Bosa is an active developer in the area with several projects underway in Seattle, Bellevue and the surrounding region.

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.  

Berkadia secured financing for Axonic Properties’ acquisition of 246 out of 361 condo units at Palmera Pointe Apartments, located in the Town ‘n’ Country submarket of Tampa, Florida. Berkadia’s Mitch Sinberg led a team that secured a $32.23 million loan on behalf of Axonic Properties. Berkadia secured a non-recourse loan with a five-year term and a flexible structure to align with the sponsor’s business plan. It includes $25 million of initial funding and $7.232 million of additional funding to execute their business plan. 

Axonic Properties began acquiring units at Palmera Pointe, a rental condominium community, in December 2021 and amassed 36 units prior to closing on the bulk acquisition of an additional 246 units last month. This gives Axonic owners 282 out of the 361 condo units or 78 percent ownership.

The location allows residents access to Tampa’s premier shopping malls, restaurants, museums, sports stadiums, business districts, and beaches. 

Register today for Connect Phoenix Multifamily & Single-Family Build-to-Rent, scheduled for April 18 at the Westin Kierland Resort & Spa, Scottsdale, AZ.

Meridian Capital Group arranged $9.3 million in financing to refinance a fractured condominium property in Tallahassee. The loan was provided by a credit union and was negotiated by Meridian senior managing director Morris Betesh, managing director Tamir Kazaz and VP Morris Dabbah, all based in the company’s New York City headquarters.

Located at 3000 S. Adams St. in Tallahassee, the property features 122 units. All were recently renovated and are located within six miles of Florida A&M University, Florida State College and Tallahassee Community College. It’s also convenient to Tallahassee International Airport, the Florida State Capitol and three local golf courses within three miles.

“We are extremely grateful to have worked hand-in-hand with a lender who had a keen eye for strong collateral and sponsorship, and were able to close a fixed-rate, cash-out refinance just prior to stabilization as our client was progressing nicely through lease-up” said Betesh. “Fractured condominium deals are always a bit nuanced, so getting this across the finish line in a market with tightening liquidity is a big win for all parties involved.”