|
|
THE CARESPRING PORTFOLIOThe Carespring Portfolio consists of 8 Class-A assisted living and skilled nursing facilities, containing 1,147 beds in the Greater Cincinnati Ohio area. Northwind closed on this off-market transaction in September 2018.
Northwind signed a new NNN lease with the operator, Carespring Health Care, who has over 32 years of experience providing transitional, rehabilitative, and long-term nursing care. The in-contract facilities were all built within the past 20 years and currently generate over $100 million in annual revenue. Carespring has established themselves as a best-in-class operator, and Northwind intends to develop additional senior facilities with them in the near future. Go Back to top |
|
7 HANOVER SQUARE7 Hanover Square is a 27-story corner modern office building in the Financial District spanning 963,045 SF across 27 stories. Northwind, together with our JV partner GFP Real Estate, entered into a contract to acquire the building in December 2017. The building is adjacent to the historic Stone Street, which is home to some of the most popular restaurants and bars in FiDi. The Partnership plans to reposition the property as a high-quality multi-tenanted office building with new retail catering to various sized tenants through major interior and exterior capital improvements.
Go Back to top |
|
305 WEST END AVENUE305 West End is a beautiful 15-story building situated on the northwest corner of 74th Street and West End Avenue, a prime location in the Upper West Side neighborhood of Manhattan located one block from Broadway, Riverside Park and is a short walking distance to 1,2&3 Subway trains. The property offers large units with great ceiling heights and magnificent Hudson River views.
Northwind acquired the property through a JV with Harrison Street Partners and Engel Burman Group and has improved all services provided by the property along with conducting a major capital improvement program in order to turn it into the best assisted-living facility in Manhattan totaling 239 units of which 40 will be memory-care units dedicated for residents suffering from Alzheimer's, Memory Loss and Dementia. Go Back to top |
|
40 EXCHANGE PLACE40 Exchange Place is a 20-story corner office building in the heart of the Financial District totaling approx. 300,000 Sq. Ft. Northwind acquired the property through a JV with GFP. It is located few steps away from Wall Street and is a short walking distance to the NYSE, Fulton Street Transit Hub (access to thirteen different Subway trains) and World Trade Center. The Partnership has successfully re-positioned the property into a high quality multi-tenanted office building through major interior & exterior capital improvements. For more details see www.40xnyc.com
Go Back to top |
|
223-225 BOWERY STREETRedevelopment of a vacant building into a 201 room Hotel in one of Manhattan’s trendiest neighborhoods. The location on Bowery between Prince & Spring streets serves as the intersection between SOHO, NOLITA, East Village and the Lower East side. This area is rapidly transforming into a vibrant destination for young professionals seeking close proximity to the city's hottest food and nightlife venues. The Hotel will be the first "Sister-City" location, a new brand by Ace Hotel, one of the most innovative operators in the hospitality industry. It will include a roof-top bar and ground floor restaurant & garden.
For more information see www.sistercitynyc.com Go Back to top |
|
40 WOOSTER STREET40 Wooster Street is a six-story office building located between Broome and Grand Streets in the heart of SOHO's "Cast Iron" Historic District. The SOHO neighborhood is characterized by numerous landmarked buildings, some of the best shopping in the city, an array of high fashion boutiques, art galleries and museums as well as trendy hotels, bars, and bistros. The Property is a short walking distance to SOHO's main attractions, prime retail corridors and excellent connectivity to the A,C,E,N,Q,R,1 & 6 trains.
Go Back to top |
|
78 GRAND STREET78 Grand Street is a five-story residential building located between Greene and Wooster Streets in the heart of SOHO's "Cast Iron" Historic District. Northwind plans to commence renovations in 2018 to convert the property into a boutique a high-end residential co-op offering unique floor-through luxury lofts.
Go Back to top |
|
45 BEEKMAN STREET45 Beekman Street is a walk-up mixed-use building located between William and Gold Streets in the Financial District. The Property is situated on the south side of Beekman street in front of Pace University main campus and is a short distance to Fulton Street Transit Center (access to thirteen different Subway trains), Pace the new World Trade Center, City Hall and the South Street Seaport Historic District. Northwind conducted a full gut renovation including a construction of brand new Duplex PH unit. Property is 100% occupied.
For more information see www.45beekman.com Go Back to top |
|
2279 THIRD AVENUEThree commercial condominium units situated on the ground and 2nd floor of a 6 story mixed-use building constructed in 2007 located in East Harlem on the South East corner of 124th Street and Third Avenue. The property is within 1 block from the 4, 5, 6 trains at 125th Street and Lexington Avenue and 2 blocks from the Metro North Station at 125th Street. The property is 100% occupied by H&R Block, The US Veterans Association and a non-profit tenant.
Go Back to top |
|
66 PEARL STREET66 Pearl Street is a mixed-use building centrally located in the heart of Manhattan’s Financial District at the intersection of historic Coenties Slip, Pearl Street, and Water Street. The property includes 42 residential apartments and 7 retail units including two-corner units with 253 feet of frontage on an open pedestrian plaza known as Coenties Slip Park. The building is in close proximity to all major subway lines, including the 1, 2, 3, 4, 5, A, C, E, J, M, R, and Z trains as well as the Ferry Boat Terminal. It is situated within blocks of the South Street Seaport, Battery Park and Stone Street, which contains some of FiDi’s most popular bars and restaurants. Northwind acquired the property in 2014 for $30 million and conducted a full gut renovation. In 2015 Northwind sold the retail portion and in 2017 the residential portion, generating a total IRR of 40%.
Go Back to top |
|
351-355 WEST 54TH STREETGround up new construction of a 33 unit residential building. Built to the highest standards and offering many amenities including a luxurious lobby with full time doorman, gym, roof deck & bike storage. The location on 54th street between 8th & 9th avenues offers walking distance to Columbus Circle, Midtown West and the B,C,D,E & 1 Trains. Shortly after completion the property was sold for $34 million
Go Back to top |
|
25 PRINCE STREETGut renovation, conversion and redevelopment of a 4 story pre-war walk-up building into 6 story elevator condominium comprised of 3 high-end residential units and retail on ground level. The location on Prince Street between Elizabeth & Mott, is considered one of NOLITA's strongest blocks. The development work included adding two new floors above existing structure, brand new façade, opening new floor-to-ceiling windows, adding an elevator and completely gutting the interiors, all done with retail tenant in place. 100% of units have been sold.
Go Back to top |
|
154 EAST 23RD STREETGut renovation, conversion and redevelopment of a 16,000 Sq. Ft. (7 floors) property situated on 23rd street between 3rd & Lexington into a 20,000 Sq. Ft. (9 floors) mixe-use condominium. Short walking distance from Gramercy Park, Madison Square Park, NYU, Baruch College and the 4, 5, 6, N, Q & R trains. Shortly after contract and approval of architectural plans, property was sold reflecting over 100% IRR.
Go Back to top |