Salvation Church of God has acquired a 2.69-acre development site at 6065 Strickland Avenue in Mill Basin, Brooklyn, for $20.575 million. The vacant waterfront parcel is situated in a predominantly residential area characterized by single-family homes. It was previously used as a vehicle storage and garage facility.
Advance Realty Investors has secured construction financing for 249 Pomeroy Logistics Center, a new Class A industrial development at 249 Pomeroy Road in Parsippany, New Jersey. The 110,000-square-foot facility, branded as 249 PLC, is currently under development and is expected to be completed in October 2026.
Developer American Lions has secured $224.3 million in bridge financing for The Italic, a recently completed residential skyscraper at 26-32 Jackson Avenue in Long Island City, Queens. Designed by SLCE Architects, the 49-story tower yields 363 residential units, including 109 affordable apartments. JLL Capital Markets arranged the financing package for the development team, a joint venture between The Carlyle Group, Fetner Properties, and Lions Group. The property is located at the corner of Jackson Avenue and Purves Street.
The Trust for Governors Island has proposed the renovation of Building 309 at 309 Clayton Road on Governors Island, to expand its functionality as a public events and community programming space. The proposal, set for review by the Landmarks Preservation Commission on January 27, was assembled by Smith-Miller + Hawkinson Architects. Although situated within the Governors Island Historic District, Building 309 is classified as a non-contributing structure and has no architectural elements deemed necessary for preservation.
JLL Capital Markets has arranged a $62 million preferred equity investment for 51 Astor Place, a 12-story office building in East Village, Manhattan. Designed by Fumihiko Maki, the structure spans approximately 386,000 square feet and occupies a full block bordered by Astor Place, Third Avenue, Fourth Avenue, and East 9th Street.
