BOSTON — Avison Young Capital Markets has arranged a $47 million bridge loan for the gut renovation and repositioning of the Custom House Block and John Hancock Counting House located at 62-70 Long Wharf and 58-60 Long Wharf, respectively, in Boston. David Krasnoff and Michael Buckley of Avison Young secured the financing for the borrower, Capital Properties. The borrower plans to fully rehabilitate the properties, including converting the Custom House Block building into a modernized office..
SULLIVAN COUNTY, N.Y. — SG Blocks has been commissioned to design and construct a workforce housing development in Sullivan County. The four-building, 183,000-square-foot property will be designated for low- to middle-income households. The housing development will target employees for a newly built $1.2 billion destination resort that includes an 18-story hotel, casino and entertainment complex with approximately 100,000 square feet of casino floor, an entertainment village, golf course and..
LONG ISLAND, N.Y. — Ripco Real Estate has arranged the sale of an apartment complex located at 26 Stephen Oval in Long Island’s Glen Cove. The 100-unit garden-style property sold for $19.5 million. Mark Kaplan of Ripco represented the undisclosed buyer and seller in the transaction.
RIDGEFIELD, N.J. — Marcus & Millichap has brokered the sale of an industrial building located at 730 Grand Ave. in Ridgefield. A private investor acquired the property from a limited liability company for $9 million. Renovated in 2015, the 81,870-square-foot property was 93 percent occupied at the time of sale. Steve Lim of Marcus & Millichap represented the seller and buyer in the deal.
MONTICELLO, N.Y. — Middletown Medical Group has signed a lease for 8,413 square feet of medical office space at Thompson Square Shopping Center in Monticello. The combined three-tenant space will be the medical group’s new location. The new location will allow Middletown Medical to consolidate two existing Monticello physician offices. The new facility will offer 20 exam rooms, an X-ray unit, a CAT scan machine and urgent care services. With the addition of Middletown Medical Group, the..
CANONSBURG, PA. — Laurus Corp., through its affiliate 501 Technology Partners LLC, has completed the disposition of an office building located at 501 Technology Drive within Southpointe Business Park in Canonsburg. The three-story property sold for an undisclosed price. At the time of sale, the 98,314-square-foot office building was fully occupied. The name of the buyer was not released.
BAYONNE, N.J. — Greystone has provided a $19.2 million Fannie Mae loan as part of a $32.2 million property acquisition by AMS Acquisitions. The seven-year loan includes six years of interest-only payments and a 30-year amortization. The borrower acquired an 85-unit multifamily property located in Bayonne. Renovated in 2013, the property features studio, one- and two-bedroom units. The acquired property includes three undeveloped parking lot parcels, which AMS Acquisitions intends to develop..
NEW WINDSOR, N.Y. — Island Associates has arranged the acquisition of a retail property located at 170 Windsor Highway in New Windsor. An undisclosed buyer purchased the property for $5.7 million. Situated on 2.9 acres, the 7,254-square-foot property is net-leased to QuickChek and features 10 gas dispensers and a drive-thru car wash. Roger Delisle of Island Associates represented the buyer, while Matthew Gorman of CBRE represented the undisclosed seller in the deal.
SOUTH KINGSTOWN, R.I. — Sweeney Real Estate & Appraisal has arranged the sale of a retail property located at 84 Old Tower Hill Road in South Kingstown. BCP Capital Properties acquired the 4.97-acre site for $2.1 million. The site includes a 10,804-square-foot building. The buyer plans to redevelop the property into a retail and self-storage facility. Thomas Sweeney and Kevin Casey of Sweeney Real Estate & Appraisal brokered the transaction. The name of the seller was not released.
NEW BEDFORD, MASS. — An entity operated by Charterhouse Development Corp. has purchased a retail property located at 2100 Acushnet Ave. in New Bedford. HRES Acushnet sold the property for $1.9 million. CVS/pharmacy occupies the property.