St. John’s University closed the sale of its Staten Island Campus to Wagner College, ensuring the property’s continued use for higher education and community benefit. The transaction was facilitated by Savills, which represented St. John’s throughout the process.

The project was led by the Savills team of Arthur Mirante and David Carlos, along with Savills corporate managing directors Michael Bertini and Mark Todrys.

“This was a uniquely mission-driven transaction that required a careful balance of financial, institutional, and community considerations,” said Mirante. “We were honored to represent St. John’s and help identify a buyer that shares its educational values and long-term vision for the campus. This is a distinct property, and this has been a special transaction to navigate.”

The sale allows St. John’s to further invest in its core academic programs and facilities across its main campus in Queens and remaining global sites. Wagner College plans to integrate the campus into its institutional footprint.

American Lions, a joint venture between Fetner Properties and Lions Group, has launched leasing at The Italic, a 50-story residential tower located at 26-32 Jackson Ave. in Long Island City. The Italic is the sister building of The Bold, located across the street.

“This evolving neighborhood has shown tremendous growth, and we’re excited to contribute to that by adding more high-quality housing,” said Hal Fetner, president and CEO of Fetner Properties.

The Italic’s 363 rental apartments range from studios to three-bedrooms. Of these, 109 units are designated as affordable. The building also includes 20,000 square feet of commercial space and offers direct access to Court Square subway station.

Amenities at the property include a communal lounge, a fitness center, two bay golf simulators, a basketball court, coworking spaces and a rooftop terrace with panoramic views of the Manhattan skyline. A standalone feature is the building’s full demonstration cooking kitchen.

LRT Company, an opportunistic development firm, acquired 12.38 acres of land in the Providence, RI suburb of Coventry, where it plans to develop Tiffany Laurel Reserve, a 204-unit senior housing campus. The firm completed its acquisition of the property to develop the $65-million senior housing campus project after receiving final site approval and all associated entitlements, which took more than three years to complete.

Groundbreaking on Tiffany Laurel Reserve, located off the New London Turnpike, is expected next summer. The senior housing campus will include 127 independent living units and 77 assisted living and memory care units. Approximately 25% of the independent living units will be reserved for low-income seniors.

“LRT Company is excited to expand into Rhode Island with our new senior housing project, which has been over three years in the making,” said Lawrence LaBonte, founder and CEO. “We are thankful to the city and state for working with us to earn entitlements for the project, and glad to be a part of the solution of limited housing supply available to mid- to low-market seniors.” 

Development firm BFC Partners held the grand opening of The Pearl, a 100% affordable housing project located at 475 Bay St. in Stapleton, Staten Island. The 270-unit project is the first to open under the Bay Street Corridor Neighborhood Plan, intended to provide affordable housing, public open spaces, local retail and small businesses and job opportunities for residents in the community.

The development received support from key city and state programs, including NYS Homes and Community Renewal, New York City Department of Housing Preservation and Development, Extremely Low & Low-Income Affordability Program and the Voluntary Inclusionary Housing Program. Financing was provided by Wells Fargo and the Urban Investment Group at Goldman Sachs Alternatives. 

“As a native Staten Islander, I am incredibly proud to bring community-centered, urban development solutions to our borough,” said Joseph Ferrara, principal of BFC Partners. “Securing essential housing for those in need is deeply rewarding, and the opening of The Pearl marks a significant step toward inclusivity, demonstrating our commitment to accessible housing for all.”

The owners of a former lumberyard on Goose Island are offering the land for sale, a move that calls into question Hines’ long-standing plans to build Chicago’s first mass timber building on the site.

CBRE is marketing the 2.1-acre site at 1017 W. Division St., a former lumberyard, on behalf of the Ciral family, reported Crain’s. The listing comes years after developer Hines signaled its intentions for T3 Goose Island, a six-story, 275,000-square-foot office building that would be constructed using specially engineered wood. It will also feature private balconies encouraging a unique indoor-outdoor connection, supplementing a communal rooftop deck.

Hines has completed similar projects in other markets under the brand T3, which stands for timber, transit and technology—a more environmentally friendly method.

South Street Partners and TPG Real Estate have formed a joint venture to acquire The King and Prince Beach & Golf Resort in the Golden Isles.

The duo is acquiring the resort and golf club from MMI Hospitality Group, which initially invested in the property nearly 45 years ago. MMI Hotel Group’s management division will continue to operate The King and Prince. The JV will focus on elevating the resort and club offerings, with plans for a comprehensive renovation of rooms and common spaces.

Located on St. Simons Island, the 142-key resort campus spans nearly six acres with direct beach access and amenities that include bars and restaurants, resort-style swimming pools, and sports courts. Guests can enjoy an 18-hole golf course at The King and Prince Golf Club, located just a few miles north of the hotel. The resort offers 10,000 square feet of meeting space, along with a tented lawn for events and celebrations. The property includes developable land and beachfront condos for purchase.