NEW YORK CITY — Brax Realty has brokered the $6.6 million sale of an apartment building in the Hell’s Kitchen neighborhood of Manhattan. Located at 439 W. 46th St., the 9,390-square-foot property contains 20 apartments and has an additional 6,527 square feet of air rights available. Alan Stenson of Brax Realty represented the seller, Peter Gonedes, in the transaction. The buyer was a private international investor.
NEW YORK CITY — Hodges Ward Elliot has brokered the $88 million sale of two multifamily buildings in the Bronx. The 10-story properties span a combined 400,000 square feet and are located at 2001-2045 Story Ave. in the Castle Hill section of the Bronx. Daniel Parker, Paul Gillen and Ariel Tambor of Hodges Ward Elliot represented the seller, Related Fund Management, in the transaction. The buyer was Abraham Fruchthandler.
NEW YORK CITY — Madison Realty Capital and Bluestone Group have provided a $32 million loan to refinance a mixed-use rental property in Brooklyn. Located at 271 Lenox Road, the 15-story property includes 55 rental units, 9,000 square feet of ground-floor commercial space and a parking garage. Madison Realty Capital provided a $28 million first mortgage loan to borrower, New York City-based real estate development firm Hello Living, and arranged a $4 million mezzanine loan from Bluestone Group. Terms of the financing were not disclosed.
NEW YORK CITY — Cushman & Wakefield has arranged the $10.8 million sale of an 8,076-square-foot mixed-use building in the NoLita neighborhood of Manhattan. Located at 51 Spring St., the six-story property is comprised of 15 residential apartments and two retail spaces. The retail component of the space is currently leased to two restaurants through December 2021. Robert Burton, Robert Shapiro, Bobby Carrozzo and Jordan Sutton of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between Javeri Capital and DNA Development.
SOUTHAMPTON, N.Y. — Greystone has provided a $58.8 million HUD-insured loan to refinance a skilled nursing facility in Southampton. Situated on nine acres on the South Fork of Long Island in The Hamptons, the 280-bed Hamptons Center for Rehabilitation & Nursing offers both short-term and long-term care and two separate, secure dementia care units. The facility is located close to affluent areas such as Sag Harbor, Bridgehampton and Sagaponack. The nearest skilled nursing facility is 15 miles away. Fred Levine of Greystone originated the fixed-rate, nonrecourse loan with a 35-year term and amortization.
NEW YORK CITY — Ariel Property Advisors has brokered the $15.9 million sale of a multifamily portfolio in Queens. The 72-unit portfolio includes three properties and spans 62,640 square feet. The four-story buildings are located on 65th Street between Central Avenue and Myrtle Avenue. Victor Sozio, Shimon Shkury, Michael Tortorici and Matthew Lev of Ariel Property Advisors represented the seller, 71-15 65th St. LLC, in the transaction. The buyer was a group led by Rockabill Development.
NEW YORK CITY — HFF has secured $97.1 million in financing for 111 Leroy, a luxury condominium development in Manhattan’s West Village. HFF arranged the two-year, floating-rate financing through Rialto Capital Management on behalf of the borrower, Property Markets Group. Loan proceeds were used to finance unsold condo inventory at the development, which consists of 13 residences and four townhomes totaling approximately 50,000 square feet. HFF previously arranged construction financing for the project, which is now in the final stages of development. The property will include a 24-hour doorman, gym, resident’s lounge and landscaped yard with a fire pit and barbecue area. Christopher Peck and Kristen Knapp of HFF made up the debt placement team.
NEW YORK CITY — Knotel, a locally based designer and builder of flexible office space, has signed leases to open two locations totaling 70,924 square feet in New York City. Knotel will open a 43,520-square-foot space at 88 Pine Street in the Financial District and a 27,404-square-foot space at 1407 Broadway in Times Square. Elie Reiss of Skylight Leasing represented Knotel in negotiations for the first lease, and Michael Cohen and John Pavone of Colliers International represented Knotel in the second deal, which is a sublease from web hosting company GoDaddy. Jon Wheels and Chris Perry of Aquila Commercial represented GoDaddy in the latter transaction. Knotel, which operates locations in New York, San Francisco, Los Angeles, London, Berlin, Paris and Brazil, now has a global footprint of more than 3 million square feet across 200 sites.
NEW YORK CITY — Cushman & Wakefield has arranged the $1.6 million sale of a retail building in Ridgewood, Queens. Located at 57-45 Myrtle Ave., the three-story property is currently operating as a pet store but the tenant is expected to vacate the space. Stephen Preuss and Andreas Efthymiou of Cushman & Wakefield represented the seller, Robert F. Gentile, in the transaction. The buyer was investor Isaac Azizian.
NEW YORK CITY — Bank OZK has provided a $95 million construction loan for an 85,000-square-foot, 15-story mixed-use condominium development on the Upper East Side of Manhattan. Located at 150 E. 78th St., the project will include 25 condominium units as well as several thousand square feet of ground-floor retail space. Bank OZK provided the financing to Midwood Investment & Development and EJS Real Estate. Terms of the financing were not disclosed. The developer plans to break ground on the project this summer.
