New York

Greystone Provides $54.2M in Financing for Two Skilled Nursing Facilities in Queens

NEW YORK CITY — Greystone has provided $54.2 million in HUD-insured mortgage loans to refinance two skilled nursing facilitates in Queens. Fred Levine of Greystone’s Monsey, N.Y., office originated the two separate transactions for the borrower, SentosaCare. Greystone provided a $21.9 million loan to refinance Brookhaven Rehabilitation and Healthcare Center, a 298-bed property in the Far Rockaway neighborhood and $32.3 million in refinancing for Cypress Garden Center for Nursing and..

October 20, 2017

Farmingdale State College Completes $12M Renovation of Conklin Hall Student Center

EAST FARMINGDALE, N.Y. — Farmingdale State College has re-opened Conklin Hall after completing a $12 million redevelopment and renovation of the building. Stalco Construction and BRB Architects transformed the two-story, 19,701-square-foot building — which was originally built as a power plant in 1914 — into a student center. The 11,115-square-foot lower level features a newspaper room, a yearbook room, a student lounge, student club offices and four private offices, while the..

October 20, 2017

Walker & Dunlop Arranges $29.4M in Financing for Two Multifamily Properties in Massachusetts, New York

PLYMOUTH, MASS., AND HUDSON, N.Y. — Walker & Dunlop has closed $29.4 million in financing for Copper Cove Valley and The Falls, two unaffiliated multifamily projects located in Plymouth and Hudson, respectively. The two loans were closed by Walker & Dunlop Commercial Property Funding. The company refinanced the existing construction loans in addition to 100 percent of the remaining construction costs needed to complete the projects. Copper Cove Village and The Falls each have less than 80..

October 18, 2017

Cushman & Wakefield Arranges $550M in Financing for Two Manhattan Properties

NEW YORK CITY — Cushman & Wakefield arranged $550 million in fixed-rate financing for The Chetrit Family and Stellar Management. Provided by affiliates of Natixis Real Estate Capital and UBS AG, the financing is secured by Yorkshire Towers and Lexington Towers in Manhattan’s Upper East Side. Located at 305-315 E. 86th, Yorkshire Towers is a 21-story apartment building featuring 692 units. Built in 1963, Lexington Tower at the corner of East 88th Street and Lexington Avenue is a 15-story,..

October 17, 2017

Kalikow Group Breaks Ground on $29M Residential Building in Brooklyn

NEW YORK CITY — The Kalikow Group has broken ground on 2415 Church Avenue, a rental residential building located in the Prospect-Lefferts Gardens neighborhood of Brooklyn. The Kalikow Group, WRS Associates and Ishay Group are joint owners of the $29 million, 67-unit property. The as-of-right property will include studio, one- and two-bedroom units priced at market rates. The units will feature luxury finishes including high ceilings, open kitchens, high-end appliances, in-unit..

October 17, 2017

TH Real Estate Sells 651,495 SF Office Building in Manhattan for $467.5M

NEW YORK CITY — TH Real Estate, an affiliate of Nuveen, has completed the disposition of 685 Third Avenue, an office building with ground-level retail space in Midtown Manhattan. UNIZO Holdings Co., a Tokyo-based real estate company, acquired the property for $467.5 million. The 31-story office building features 651,492 square feet of office and retail space. Office tenants include Sales Force, Tribune and Crain’s. The retail space houses Luke’s Lobster and Maison Kayser, an artisanal..

October 16, 2017

Marcus & Millichap Brokers $5.8M Sale of Retail Building in Pine Bush, New York

PINE BUSH, N.Y. — Marcus & Millichap has arranged the sale of Valley Supreme Plaza, a retail building located at 2412 State Route 52 in Pine Bush. A private investor acquired the 50,800-square-foot retail property from an individual/personal trust for $5.8 million. Alan Cafiero, Ben Sgambati, Matt Leszyk and Anthony Asencio of Marcus & Millichap represented the seller, while Scott Plasky and Scott Edelstein of Marcus & Millichap represented the buyer in the deal.

October 16, 2017

Eastern Consolidated Arranges $12.7M Sale of Mixed-Use Property in Manhattan

NEW YORK CITY — Eastern Consolidated has brokered the sale of a six-story mixed-use building located at 331 E. 81st St. on Manhattan’s Upper East Side. A private investor acquired the building for $12.7 million, or $1,202 per square foot. The 10,606-square-foot property features 14 residential apartments and one retail space, which is leased to Bar Prima. Jeremy Simon and Ronda Rogovin of Eastern Consolidated represented the seller, a real estate investment firm, while Simon also procured..

October 13, 2017

Columbia Property Trust Buys Two Office Properties in Manhattan for $514M

NEW YORK CITY — Columbia Property Trust Inc. (NYSE: CXP) has purchased two office properties in the Chelsea submarket of New York for $514 million. The acquisition includes two adjoining office buildings that total 281,294 square feet at 245-249 W. 17th St., as well as a 165,670-square-foot office building at 218 W. 18th St. The seller was not disclosed. Twitter’s New York headquarters occupies the majority of the boutique buildings on 17th Street. The adjoining buildings include a..

October 13, 2017

Meridian Investment Negotiates $29.8M Sale of Apartment Building in the Bronx

NEW YORK CITY — Meridian Investment Sales, the commercial property sales division of Meridian Capital Group, has arranged the sale of an apartment property located at 1555 Grand Concourse in the Mount Eden neighborhood of the Bronx. Pistilli Realty Group purchased the building from Eric Silverstein for $29.8 million. Mark Steinmetz and Richard Velotta of Meridian represented the buyer and seller in the transaction. Built in 1927, the six-story, 139,000-square-foot building features 149..

October 12, 2017