Global Holdings and MAG Partners enter joint venture to develop ground-up residential tower
OWNERS, DEVELOPERS & MANAGERS Jack Resnick & Sons completes 19,864 s/f of lease renewals at 8 West 40 th St. Photo credit: Jack Resnick & Sons
MANHATTAN, NY According to Man- hattan Skyline Management Corp., Fitness Lounge Gramercy has opened a new studio at 291 Third Ave. in the Gramercy neighbor- hood. As part of a new long-term lease with Manhattan Skyline, Fitness Lounge began operating out of an 3,500 s/f street-level location featuring 30 ft. of frontage along Third Ave. between East 22 nd and East 23 rd St. The Gramercy studio marks the fourth Fitness Lounge location currently operating in New York City. Founded in 2018, Fitness Lounge is a members club and boutique fitness studio that pro - vides a premium environment for MANHATTAN, NY Jack Resnick & Sons has renewed several leases totaling 19,864 s/f at 8 West 40 th St., its boutique 22-story office building in Midtown’s Bryant Park neighborhood. In the larger of two office trans - actions, Jack Victor, Ltd. will ex- pand to 11,000 s/f across the entire 17 th floor and a portion of the 18 th floor. The Canadian-based man - ufacturer for men’s clothing was founded in 1913 and is expanding its showroom and U.S. executive offices by 4,321 s/f as part of a ten-year transaction. Marchon Eyewear, Inc. has also extended its lease for its New York City offices and showroom for five
MANHATTAN, NY Global Holdings, the international real estate devel- opment and investment firm led by chairman and founder Eyal Ofer, and MAG Partners, the wom- an-owned real estate company founded by MaryAnne Gilmartin, have entered a joint venture to de- velop a premier ground-up project in the Hudson Square neighbor- hood. Located at 122 Varick St., the 149-unit residential tower will bring a sophisticated living experience to one of the city’s fastest-growing live-work districts and is developed under a long-term
years across the entire 15 th , 21 st and 22 nd floors, totaling 8,864 s/f.
Cynthia Maas- ry, deputy chief investment of- ficer of Trinity Church NYC. The devel- opment at 122 Varick St. will comprise ap-
approximately 25% of the res- idential units designated as permanent- ly affordable. This commit- ment reflects the partner-
ground lease with Trinity Church. “Tr i n i t y Church NYC is excited to part- ner with MAG Partners and Global Hold-
Manhattan Skyline Management Corp. welcomes Fitness Lounge to 291 Third Ave. - 3,500 s/f
Eyal Ofer
Cynthia Maasry
MaryAnne Gilmartin
proximately 192,000 s/f in total, including over 5,000 s/f of ground- floor retail designed to activate the streetscape and contribute to the neighborhood’s pedestrian expe- rience. The residential component will include 149 rental units deliv- ered under the 485-x program, with
ship’s shared focus on advancing inclusive housing opportunities while contributing to the long-term vitality and diversity of the Hudson Square neighborhood. Kevin Donner from Cushman & Wakefield represented Trinity on the ground lease.
ings, whose proven execution and development expertise make them exceptional partners. This collabo- ration reflects our shared long-term commitment to Hudson Square’s growth and to advancing the neigh- borhood as a vibrant, integrated live-work-play community,” said
FOR FULL STORY VISIT NYREJ.COM Conventional migration data counts everyone, from retirees to recent graduates to service work- ers, and is typically aggregated at the state or metro level, obscuring the specific labor dynamics of Manhattan. To understand where elite firms are truly gaining or losing ground, JLL analyzed LinkedIn migration data for moves into and out of New York City. The sample was segmented by education, industry, career stage and university pedigree. economic strength. “The numbers turn the Wall St. South narrative on its head,” said Kevin Kelly, vice chairman at JLL. “Corporate location decisions in- creasingly hinge on access to spe- cialized labor, and while Florida may be winning broad population measures, New York continues to dominate the high-value talent segment that sustains its financial and tech ecosystem.” both personal training and open gym use. Fitness Lounge brings to- gether a community of independent professionals – including personal trainers, physical therapists, yoga instructors, Pilates instructors, and other specialists – to provide personalized coaching and instruc- tion. In addition to tailored training services, the studio offers a limited number of open gym memberships.
Gilbane, Blue Sea Dev., and JASA celebrate Linden Grove 100% affordable sr. housing
BROOKLYN, NY Gilbane Develop- ment, Blue Sea Development Company, and JASA were joined by city officials today to celebrate the ribbon cutting of Linden Grove, a 153-unit, 100% affordable senior housing community located at 223 Linden St. in the Bushwick neighborhood. Part of the city’s Seniors First initiative, Linden Grove reflects a broad, citywide approach to help seniors age in place and create long-term senior housing on NYCHA-owned land. The 13-story, 100,000 s/f build- ing offers affordable studio and one-bedroom apartments for qualified seniors and households earning 30% to 40% of the Area Median Income (AMI), with 46 apartments reserved for formerly homeless seniors. The project is a joint venture between Gilbane De- velopment, Blue Sea, and JASA, and was built using innovative modular construction techniques. As both the social services provider and the property manage- ment agent, JASA’s on-site staff will provide case management, wellness programming, and ac- cess to essential resources that
JLL data reveals New York leads in high-value talent migration
NEW YORK, NY New research from global real estate brokerage JLL shows that, despite headline-grab-
bing popula- tion statistics, New York is winning the nation’s mi- gration com- petition for high-value talent.
Photo credit Vanessa Blake
Kevin Kelly
help residents thrive, everything from assistance with healthcare and benefits to wellness checks, community activities, and social engagement. The JASA team will be a daily presence in the building, working hand-in-hand with tenants to build a strong, inclusive commu- nity that promotes health, stability, and connection. Designed to foster a sense of community and support, Linden Grove offers many amenities for residents, including free internet and Wi-Fi throughout the building, a rooftop fitness room, arts and
crafts area, and laundry room, all with views of the city, and a designer furnished community lounge equipped with computer stations. Outdoor spaces feature a landscaped recreation area wrapping around the building, fitness equipment area, a rooftop terrace with panoramic city views, lounge seating and outdoor dining areas, and raised-bed commu- nity gardens. All apartments are equipped with video intercoms, USB charging outlets, smart Wi-Fi thermostats, and energy-efficient appliances.
While broad migration data suggests the city is losing residents overall, the workers that matter most to financial, tech, and inno - vation-driven firms are choosing New York in overwhelming numbers. JLL’s granular look at real job-to-job moves reveals that Manhattan continues to outpace Florida and other Sun Belt markets in attracting early- and mid-career professionals from top schools and key office-using industries — the segment that powers corporate growth and defines long-term
NEW YORK
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