NEW YORK CITY — Eastern Consolidated has arranged the sale of a 10,000-square-foot mixed-use building at 168 Suffolk St. on the Lower East Side for $12.8 million. Peter Carillo of Eastern Consolidated represented the seller, 168 Suffolk St. Owners LLC. Elad Dror and Tony Parks of PD Properties represented the buyer, Eunhasu Corp. In addition to the leased ground-floor retail space, the building consists of nine, two-bedroom, free-market apartments. In 2016, the building was fully renovated which included the installation of a new roof and rear building extension on all floors. Amenities include a shared roof deck as well as bike and locker storage. Located between East Houston and Stanton streets, the property is two blocks from the F, J, M and Z trains on Delancey Street.
DETROIT — Bagley Forest Properties plans to redevelop the former B. Siegal department store building in Detroit into retail and multifamily space. The property is located at the intersection of Livernois Avenue and 7 Mile Road. Construction of the 29,000-square-foot project is expected to begin in the next 45 days with completion slated for early 2019. Matt Hessler of Bagley Forest Properties owns the property. Arthur Itkis and Aaron Moore of JLL will market the property for lease.
WESTWOOD VILLAGE, CALIF. — CBRE has brokered the sale of a multi-tenant retail and office property located at 1136-1140 Westwood Blvd. in Westwood Village. More LLC acquired the property from a private family trust for approximately $4 million. The two-story building features 6,340 square feet of retail and office space. Current tenants include D’Amores Pizza and a variety of office users. Alex Kozakov, Patrick Wade and Matthew Greenberg of CBRE represented the seller and the buyer in the deal.
NEW YORK CITY — Ariel Property Advisors has facilitated the sale of Adam Clayton Powell Cluster, a mixed-use portfolio in Central Harlem. The portfolio, which includes four mixed-use buildings and a vacant lot between 133rd and 134th streets, sold for $16.4 million. The four walk-up buildings contain 41 residential and six retail units spanning 39,445 square feet. The vacant lot is zoned R7-2/C1-4, allowing for 7,500 buildable square feet of retail and residential development. Victor Sozio, Shimon Shkury, Michael A. Tortorici and Orry Michael of Ariel represented the undisclosed seller.
FREMONT, CALIF. — Fremont Hills Development Corp. has received a $65 million construction loan for the development of a mixed-use project in Fremont. Parkview Financial provided the loan. Designed by Hoover Associates Architects and situated on 12.9 acres, the development will feature 158 multifamily units and 53,900 square feet of retail space. Community amenities will include a private second-floor courtyard, and a landscaped playground and park area with trails. Each unit will feature central air, in-unit laundry facilities, stainless appliances, quartz countertops, engineered hardwood floors and a private deck.
CEDAR PARK, TEXAS — The Cedar Park City Council has approved a land use plan amendment for Indigo Ridge North, a 126-acre mixed-use project that will be located in the Austin metro of Cedar Park. According to plans submitted to the city, the project will include 100,000 square feet of retail space, 270,000 square feet of office space, 50,000 square feet of boutique office space, a 400-key hotel, 1,050 residential units and 120 high-rise residential units. Austin-based Thompson Morris is developing the project.
BOERNE, TEXAS — Weitzman has brokered the sale of a two-story building located at 152-170 S. Main St. in Boerne, a northwestern suburb of San Antonio. The property consists of 12,000 square feet of street-level retail space leased to three different tenants and 3,300 square feet of second-level space operating as a boutique hotel. Ramey Mainstreet LLC, a local investor, purchased the property for an undisclosed price. The seller was not disclosed. Charlie Riddle of Weitzman brokered the transaction.
NEW YORK CITY — Arch Cos. and its partners have secured a construction loan from Maxim Capital Group to fund a mixed-use development project at 11 Greene St. in the SoHo neighborhood of Manhattan. Neither the amount nor terms of financing were disclosed. Once complete, the development will offer 31 loft inspired rental apartments and 11,650 square feet of ground-floor retail space along Greene Street, a popular SoHo shopping destination. Designed by Gene Kaufman, the building is slated for completion in 2019.
PHILADELPHIA — On behalf of a family office investor, JOSS Realty Partners has purchased a mixed-use building in the Fishtown neighborhood of Philadelphia for $6.3 million. Rittenhouse Realty Advisors brokered the sale and Leopard Point LLC was the seller. The 14,500-square-foot property, located on 18-20 W. Girard Ave., includes 15 new apartment units above a street-level commercial space occupied by Sherwin Williams. The fully leased building offers one- and two- bedroom apartments as well as a rooftop deck. In recent years, Fishtown has seen an influx of upscale art, entertainment and dining establishments, as well as a rise in housing prices.
BOSTON — Nauset Construction has started construction on a mixed-use project at Ten Essex St. in Cambridge, Mass., that will transform a surface parking lot into a transit-oriented five-story development with 46 apartments and 3,000 square feet of retail space. The project is being built by Nauset for owner 3MJ Realty. Designed by Golden Architects of Quincy, Perkins Eastman and Mark Boyes-Watson Architects, the project is located directly on the Central Square Red Line. Amenities will include a rooftop patio and second-floor deck, bike storage, a green roof terrace and balconies in several of the units. Café Nero and H Mart, an Asian-inspired supermarket, will anchor the ground floor. Nauset previously converted the Holmes building in Central Square from offices to apartments in 2013. The project is slated for completion in January 2019.