Mixed-Use

TerraCRG Arranges $2.2M Sale of Mixed-Use Building in Brooklyn

by Amy Works January 6, 2016

NEW YORK CITY — TerraCRG has arranged the sale of a mixed-use building located at 128-130 Cortelyou Road in Brooklyn’s Kensington neighborhood. Sugar Hill Capital Partners acquired the two-story, eight-unit building for $2.2 million, or approximately $316 per square foot. The property features five ground-floor commercial units and three three-bedroom units on the upper level. Additionally, the property features approximately 4,800 buildable square feet as of right. Adam Hess, Sam Shalumov, Eddie Setton and Kirill Galperin of TerraCRG were the sole brokers in the transaction.

January 6, 2016

Mixed-Use New York Northeast Office Retail

Joint Venture Buys 48,000 SF Loft Building in NYC’s Flatiron District

by Amy Works January 5, 2016

NEW YORK CITY — Manhattan-based George Comfort & Sons Inc. has partnered with ASB Capital Management to acquire a 48,000-square-foot mixed-use building at 7 W. 18th St. in Manhattan’s Flatiron District for an undisclosed price. The fully occupied nine-story building is tenanted by homenature, a home furnishing retailer, on the ground floor and a variety of office tenants on the upper floors. The name of the seller was not released.

January 5, 2016

174-Newbury-St-471-475-Commonwealth-Ave-Boston

Loans Massachusetts Mixed-Use Multifamily Northeast Office Retail

Fantini & Gorga Arranges Three Loans Totaling $12.3M for Three Properties in Boston

by Amy Works January 5, 2016

BOSTON — Fantini & Gorga has arranged three loans totaling $12.3 million in permanent financing for three properties in Boston. The properties include a mixed-use property at 174 Newbury St. and two multifamily assets located at 471 and 475 Commonwealth Ave. within Kenmore Square. The Newbury Street property features four stores with a lower level retail space occupied by Ben & Jerry’s and Vans, and five apartment units on the upper levels with direct access to the sidewalk. 471 Commonwealth is a four-story building with 10 apartment units and 475 Commonwealth is a seven-story property with 42 apartments and one office suite. Derek Coulombe, Tim O’Donnell and Chris Miller of Fantini & Gorga arranged the financing for the undisclosed borrower.

January 5, 2016

Mixed-Use Multifamily New York Northeast Retail

Marcus & Millichap Brokers Two Sales in Brooklyn Totaling $7.6M

by Amy Works January 5, 2016

NEW YORK CITY — Marcus & Millichap has brokered the sales of two properties in Brooklyn totaling $7.6 million. In the first transaction, a private investor acquired an 80-foot by 90-foot development site located at 242-248 Newkirk Ave. in Brooklyn. The site, which offers 30,497 buildable square feet, sold for $4 million. The site has approved plans for a seven-story, 45-unit apartment building. Derek Bestreich, Steve Reynolds and Thomas Reynolds of Marcus & Milichap represented the seller, a private investor, and the buyer in the transaction. In the second deal, a private investor purchased an eight-unit apartment property, located at 592 Vanderbilt Ave. in Brooklyn, for $3.6 million. Bestreich, Lucien Sproviero and Adam Lobel of Marcus & Millichap represented the seller, a private investor, and the buyer in the sale.

January 5, 2016

Florida Loans Mixed-Use Southeast

Silver Arch Closes $21M Loan for 1M SF Hotel, Residential Development in Miami

by John Nelson January 4, 2016

MIAMI — Silver Arch Capital Partners, a private lender based in Hackensack, N.J., has closed a $21 million loan for Apeiron at the Jockey Club in Miami. Once the site of the popular Jockey Club in the 1960s, the new hotel and residential development will span 1 million square feet at 111 Biscayne Blvd. David Larson of NGKF Capital Markets arranged the 2-year loan through Silver Arch Capital on behalf of Apeiron Miami LLC, a partnership headed by Ritz-Carlton Group co-founder Horst Schulze, former chairman of HBA International Michael Bedner and former vice president of Related International Muayad Abbas. The partnership will use the loan for engineering, architecture and planning purposes for the development, which will be built in two phases. Phase I is a 41-story tower that will feature 120 residential condominium units, 90 hotel rooms, a restaurant, fitness center and amenities. Phase I will also comprise a 417-space, two-story parking garage and the reconstruction of a 38-slip marina. Phase II will be a 120-unit residential condominium building and a 346-space parking structure.

January 4, 2016

Mixed-Use New York Northeast Office Retail

Leasing at One World Trade Center Reaches 2 Million Square Feet

by Amy Works December 23, 2015

NEW YORK CITY — The Port Authority of New York and New Jersey and The Durst Organization have announced that One World Trade Center is ending the year by reaching a major milestone of leasing 2 million square feet of Class A office space. The 1,776-foot tall tower reached this milestone with the signing of two new leases for pre-built space on the property’s 84th floor: a 12,000-square-foot transaction with SHVO, an international developer of luxury residential, hospitality and mixed-use projects; and a 10,000-square-foot lease with Juno Lab, a sharing economy venture. One World Trade Center now includes a roster of 24 tenants in a variety of business sectors, including media, technology, financial services and advertising. The landlord, The Durst Organization, was represented in-house by Karen Kuznick, along with Tara Stacom, Justin Royce, Barry Zeller, Connor Daugstrup and Peter Trivelas of Cushman & Wakefield. Elliott Warren of the Kaufman Organization represented Juno Lab in the transaction, while SHVO was represented in-house.

December 23, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Equicap Secures $5M Loan for Mixed-Use Property in Chinatown

by Amy Works December 23, 2015

NEW YORK CITY — Equicap has arranged $5 million in permanent financing for a mixed-use property located in the Chinatown section of New York City. The 20-unit property features four retail units and 16 apartments. The borrower, a large not-for-profit, plans to renovate and re-tenant the retail portion of the property. Daniel Hilpert of Equicap negotiated the five-year loan at a 3.25 percent interest rate.

December 23, 2015

Georgia Mixed-Use Southeast

Atlanta United Selects tvsdesign for New $50M Soccer Training Facility

by John Nelson December 23, 2015

MARIETTA, GA. — Atlanta United has selected Atlanta-based tvsdesign to design its new $50 million training facility in Marietta, a northern suburb of Atlanta. The project will be situated on a 33-acre site off Franklin Road and will feature six soccer fields and a 28,000-square-foot facility that will house the first team and academy players, along with the team’s executive and operations staff. The project is slated to bring roughly 80 high-paying jobs to the area by 2017, when the club will kick off its inaugural season at the new Mercedes-Benz Stadium under construction in downtown Atlanta. Atlanta United, Major League Soccer’s 22nd franchise, plans to hold open training sessions and tournaments at the new complex. The club is owned by Arthur Blank and led by president Darren Eales.

December 23, 2015

Mixed-Use North Carolina Southeast

FCP, Kane Realty Complete Purchase of Development Site in Raleigh’s Warehouse District

by John Nelson December 22, 2015

RALEIGH, N.C. — Federal Capital Partners (FCP) and Kane Realty Corp. have formed a joint venture to purchase the 2.5-acre Dillon Supply site in downtown Raleigh’s Warehouse District. The site is bounded by South West, West Martin, South Harrington and West Hargett streets. The joint venture will break ground in January on a mixed-use development at the site, which will comprise a 17-story office tower, 40,000 square feet of retail space, two six-story apartment buildings totaling 261 residences and a 950-space parking deck. Duda|Paine Architects LLP designed the office portion and J. Davis Architects designed the residential component of the development. Justin Good and Allan Lynch of HFF represented FCP and Kane Realty in the transaction.

December 22, 2015

Georgia Mixed-Use Southeast

Jamestown Begins Road Reconstruction for Riverview Landing Development in Metro Atlanta

by John Nelson December 21, 2015

SMYRNA, GA. — Atlanta-based Jamestown LP has begun the reconstruction of Riverview Road for its Riverview Landing mixed-use development in Smyrna, roughly 15 minutes from Midtown Atlanta. The mixed-use project will be the only development of its kind in Atlanta with direct access to the Chattahoochee River. The new tree-lined thoroughfare will feature a landscaped median, neighborhood boulevard, bike lanes and sidewalks. Jamestown expects the road reconstruction to wrap up in December 2016. The site for the future Riverview Landing is currently being utilized as a REI Outdoor School outpost. Upon completion, Riverview Landing will feature rental townhomes and apartments, single-family houses, retail and recreational amenities, such as bike trails and river access for kayaking and canoeing.

December 21, 2015

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