REBusinessOnline

NKF Capital Markets Secures $60M Recapitalization for Mixed-Use Project in Brooklyn

NEW YORK CITY — NKF Capital Markets has secured a $60 million loan for the recapitalization of an eight-story mixed-use project under development in the Clinton Hill neighborhood of Brooklyn. Located at 325 Lafayette Ave., the property will include 116 apartment units, 40 parking spaces and 16,943 square feet of street-level retail space. Key Food and Starbucks have pre-leased space at the property. Amenities will include a rooftop terrace, fitness center and a media and gaming lounge. NKF …

CBRE Brokers $8.1M Sale of Medical Office Building Near Philadelphia

PHOENIXVILLE, PA. — CBRE has brokered the $8.1 million sale of Phoenixville Medical Office Building I, a 62,175-square-foot medical office building in Phoenixville. Located at 824 N. Main St., the three-story property was built in 1991 and is currently 90 percent leased. The tenant roster includes Phoenixville Hospital, Clinical Care Associates and Tri-County Urologic. Phoenixville is approximately 27 miles northeast of Philadelphia. Peter Stevens of CBRE represented the seller, Phoenixville …

Lionstone, Walnut Capital Acquire Pittsburgh Athletic Association Building in Pittsburgh

PITTSBURGH — Lionstone Investments and Walnut Capital have acquired the Pittsburgh Athletic Association clubhouse, a five-story vacant building in Pittsburgh’s Oakland neighborhood. The property was built in 1911 and had served as the clubhouse for the Pittsburgh Athletic Association since then. The building features Renaissance Venetian palazzo architecture, a bowling alley, basketball and squash courts and a third-floor swimming pool. The structure was added to the U.S. National Register …

Cushman & Wakefield Arranges Sale of 30,000 SF Industrial Facility in Hampton, N.J.

HAMPTON, N.J. — Cushman & Wakefield has arranged the sale of 15 Route 173, a 30,000-square-foot warehouse in Hampton. Daniel Badenhausen and Andrew Stypa represented the buyer, Kal Freight Inc., in the transaction. The seller was undisclosed. The 13-acre property features up to 20-foot clear heights, cross-docking and 50 loading doors. The price was

Marcus & Millichap Negotiates $2.5M Sale of Office Building in Montclair, New Jersey

MONTCLAIR, N.J. — Marcus & Millichap has negotiated the $2.5 million sale of a 70 Park Montclair, a 12,000-square foot office property located in Montclair. Alan Cafiero, Ben Sgambati, David Cafiero and Michael DeVita of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a partnership, in the transaction. 70 Park Montclair is located at 70 Park St. and currently 83 percent

Arbor Provides $25M Refinancing for Multifamily Community in Trenton

TRENTON, N.J. — Arbor Realty Trust has provided a $25 million loan through Fannie Mae for the refinancing of an apartment property in Trenton. The borrower was undisclosed. The 169-unit multifamily property is known as The Village at Lambert Green. Built in 2017, the community features amenities that include chef-style kitchens, 24-hour emergency maintenance, a clubhouse and fitness center. Ronen Abergel of Arbor Realty originated the 12-year, fixed-rate

Fantini & Gorga Arranges $20.5M in Construction Financing for Seniors Housing Community in Massachusetts

CHICOPEE, MASS. — Fantini & Gorga has arranged a $20.5 million construction loan for Chicopee Assisted Living at RiverMills, an assisted living community in the Western Massachusetts city of Chicopee. Once completed in Spring 2019, the three-story, 80,000-square-foot community will include 95 units. The development will be located along the Chicopee River in the city’s historic RiverMills District. Approximately 20 percent of the units will offer memory care services. An additional 20 …

NAI James E. Hanson Negotiates Sale of 244-Acre Land Parcel in Lebanon Township

LEBANON TOWNSHIP, N.J. — NAI James E. Hanson has arranged the sale of a 244-acre parcel of land in Lebanon Township. The sales price was undisclosed. The property features open and wooded land and is currently occupied by Pelio Farms. John J. Schilp and Sigmund Schorr of NAI James E. Hanson represented the buyers, New Jersey Conservation Foundation, New Jersey Green Acres Program, Lebanon Township, Hunterdon Land Trust, The Nature Conservancy, Victoria Foundation, 1772 Foundation, Leavens …

Marcus & Millichap Brokers $2.3M Sale of Retail Property in New Jersey

SOMERVILLE, N.J. — Marcus & Millichap has brokered the $2.3 million sale of a 13,000-square-foot retail property in Somerville. Alan Cafiero, Ben Sgambati and Brent Hyldahl of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was undisclosed. The two-story building is located at 130 W Main St. in downtown Somerville and is currently occupied by Stickley Furniture

Atlantic Plywood Corp. Signs 46,000 SF Industrial Lease in Farmingdale, New York

FARMINGDALE, N.Y. — Lumber supplier Atlantic Plywood Corp. has signed a 46,161-square-foot industrial lease in Farmingdale. Located on a 2.2-acre site at 220 Smith St., the facility features 18-foot clear heights, multiple loading docks and is fully fenced. Barry Cohorsky, Brian Pinnola and Matthew Giugliano of NAI represented Atlantic Plywood in the transaction. The landlord was represented by Brian Lee and Dan Marcus of Newmark Knight