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Northeast

IPA Arranges $72.9M Sale of Multifamily Portfolio in Brooklyn

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $72.9 million sale of a multifamily portfolio in New York City. The portfolio includes 17 buildings containing 194 residential units and five commercial spaces in central and northern Brooklyn. IPA’s Peter Von Der Ahe, Joe Koicim, Shaun Riney, Daniel Greenblatt and Thomas Shihadeh represented the seller, a private investor, and procured the buyer, a real estate fund. Located in..

May 26, 2017

Houlihan-Parnes Secures $29.3M Financing for Multifamily Properties in NYC

NEW YORK CITY — Zeev Douek of Q10 New York Realty Advisors, an affiliate of Houlihan-Parnes Realtors, has secured $29.3 million in financing for two apartment buildings in the Queens borough of New York City. The buildings include a total of 240 units with a unit mix of studios and one- and two-bedroom units. Both loans were placed with a New York-based bank. The five-year, fixed-rate loans provided for a cash-out refinancing of $6 million.

May 26, 2017

CBRE Arranges 101,000 SF Office Lease in White Plains, New York

WHITE PLAINS, NEW YORK — CBRE has arranged a 101,000-square-foot office lease for Sumitomo Mitsui Banking Corp. at 1 N. Lexington Ave. in White Plains. Sumitomo is a Japanese banking and financial services company headquartered in Tokyo. The company signed a 13-year lease at the office complex. CBRE’s William Cuddy Jr. and Jacqueline Novotny represented the landlord, Gateway One Group, in the transaction. Williams Peters, Derek Trulson, Robert Ageloff and Paul Tortora of Jones Lang LaSalle..

May 26, 2017

New Office Tenants Sign on at The Summit in Metro NYC

VALHALLA, N.Y. — Reckson, a division of SL Green Realty Corp., has landed a pair of new offices leases at The Summit in Valhalla, a suburb of New York City. The first is an 11-year, 65,000-square-foot lease with Ascensia Diabetes Care US, a diabetes health management company, and the second is a 16,442-square-foot lease with Exelon Generation Co. an energy company. The Summit is a three-building, 700,000-square-foot office complex, which is now 93 percent occupied. Ascensia will occupy space..

May 26, 2017

Novaya Real Estate Ventures Signs New Tenant at Industrial Property in Greater Boston

FRANKLIN, MASS. — Novaya Real Estate Ventures has signed a lease with defense contractor Qinetiq North America for 100 percent of the space at 130 Constitution Blvd. in Franklin. Novaya acquired the 59,970-square-foot industrial building in 2013 and launched a capital improvement program. Transwestern’s John Lashar represented Novaya and Bill Bailey of JLL represented Qinetiq North America in the transaction.

May 26, 2017

Urban Edge Properties Acquires Retail Portfolio in Northeast, Midwest for $325M

NEW YORK CITY — Urban Edge Properties (NYSE: UE) has purchased a seven-property retail portfolio primarily within the New York City metro area and Missouri for $325 million. The portfolio contains a total of 1.5 million square feet. The acquisition includes Yonkers Gateway Center in Yonkers, N.Y.; Manchester Plaza in Manchester, Mo.; and The Plaza at Woodbridge in Woodbridge, The Plaza at Cherry Hill in Cherry Hill and 21 E. Broad Street/One Lincoln Plaza in Westfield, all in New..

May 26, 2017

Construction Begins on Center for Healthcare Technology in Philadelphia

PHILADELPHIA — Penn Medicine and IMC Construction have broken ground on the new Center for Healthcare Technology in Philadelphia. Located on Civic Center Boulevard, the first phase of the project will be a 250,000-square-foot, eight-story office building. The facility will be used for information technology and human resources. A second phase of the project will add an additional 10 stories totaling 290,000 square feet, bringing the tower to a total height of 18 stories and 540,000 square..

May 25, 2017

Clipper Realty Agrees to Acquire NYC Multifamily Property for $79M   

NEW YORK CITY — Clipper Realty has entered into an agreement to acquire a multifamily property located at 10 W. 65th St. in New York for $79 million. The 82-unit property spans 82,000 square feet plus 53,000 square feet of air rights located near Lincoln Center and Central Park in the Upper West Side submarket of Manhattan. Clipper plans to invest incremental capital to enhance the property. The company expects to finance the acquisition with property level mortgage debt and cash on hand,..

May 25, 2017

Meridian Capital Group Secures $65M Refinancing of Multifamily Property in NYC

NEW YORK CITY — Meridian Capital Group has secured $65 million to refinance The Blake, a multifamily property in the Upper East Side of Manhattan, on behalf of BLDG Management. A national life insurance company provided the 10-year loan, which features a fixed rate of 4.2 percent and seven years of interest-only payments. Meridian’s Carol Shelby negotiated the transaction. The Blake, located at 220 E. 63rd St., is a 14-story, 181-unit apartment building including one-, two- and..

May 25, 2017

King Street Breaks Ground on 145,000 SF Spec Office/Lab Building in Greater Boston

WALTHAM, MASS. — King Street Properties has broken ground on a 144,910-square-foot office and laboratory property at 828 Winter St. in Waltham, Mass. The speculative building is scheduled for completion in mid-2018. King Street Properties also owns 830 Winter St., a 100 percent leased, 185,000-square-foot building adjacent to the new development. When 828 Winter St. is complete, the two-building campus will encompass 330,000 square feet in total. On-campus amenities will include two..

May 25, 2017