NEW YORK CITY — Berkadia has secured a $20 million loan to refinance a multifamily property in Brooklyn. Located at 240 Meeker Ave., the 46-unit property includes one- and two-bedroom floor plans with balconies in every unit. Stewart Cambell of Berkadia’s Manhattan office secured the financing on behalf of the borrower, New York-based 240 Meeker Avenue Corp. The 10-year, permanent Fannie Mae loan features a 4.37 percent fixed rate and six years of interest-only payments.
New York
NEW YORK CITY —Tommy Hilfiger has closed its flagship store on Fifth Avenue in Manhattan, and the apparel retailer also plans to shutter its store on Collins Avenue in Miami on April 28. These moves mark the closing of the only two full-price Tommy Hilfiger stores in North America. According to executives, the closures will enable the company to direct resources and capital toward experimentation with new retail concepts and experiences, with an emphasis on appealing to younger customers. The four-story flagship store originally opened in 2009. Tommy Hilfiger is the latest apparel retailer to shutter a store on Fifth Avenue, following the likes of Lord & Taylor, Gap and Abercrombie & Fitch.
HORSEHEADS, N.Y. — Marcus & Millichap has brokered the $3 million sale of Holiday Inn Elmira/Horseheads, a 99-room hotel located at 2666 Corning Road in Horseheads, about 90 miles south of Syracuse. The two-story property is situated on 2.6 acres and features amenities such as a pool, fitness center, business center and airport shuttle service. Jerry Swon, Tim McCaffrey and Daniel Zagoria of Marcus & Millichap represented the seller and procured the buyer in the transaction.
NEW YORK CITY — Rosewood Realty has arranged the $3.7 million sale of a four-story apartment building in the Harlem neighborhood of New York City. Located at 2032 Fifth Ave., the 6,090-square-foot property was built in 1909 and consists of eight units. Aaron Jungreis and Jonathan Brody represented the seller, Omek Capital, in the transaction. The buyer was a private investor. The townhouse sold for 14.8 times the current rent roll and at a capitalization rate of 5.4 percent.
NEW YORK CITY — Marcus & Millichap has negotiated the $1.7 million sale of a 5,000-square-foot development site in Brooklyn. The property is located at 46 Diamond St. Shaun Riney and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
GARDEN CITY, N.Y. — HFF has brokered the $11.4 million sale of a medical office building in the Long Island village of Garden City. Located at 224 7th St., the 16,920-square-foot property was built in 1969 and converted to a medical imaging facility in 2007. The facility is currently triple-net leased to the New York University School of Medicine. HFF represented the seller, Meridian Imaging Group, in the transaction. The buyer was undisclosed. Inland Real Estate Acquisitions facilitated the transaction.
NEW YORK CITY — Cronheim Mortgage has arranged a $5 million loan to refinance a 12-story office building in Midtown, Manhattan. Located at 32 E. 31st St., the 52,000-square-foot property also includes ground-floor retail. The tenant roster includes a fitness studio, hair salon, media company and real estate developer. Cronheim secured a 20-year loan amortized over 30 years on behalf of the borrower, 32 E. 31 Street Corp. The lender was CMFG Life Insurance Co.
NEW YORK CITY — Marcus & Millichap has negotiated the $2.4 million sale of a 4,750-square foot mixed-use property in Brooklyn. Located at 358 Knickerbocker Ave., the property was built in 1931. Shaun Riney and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
NEW YORK CITY — Cushman & Wakefield has arranged the $1.9 million sale of a four-unit multifamily building in the NoLita neighborhood of Manhattan. Located at 172 Elizabeth St., the 2,700-square-foot property also includes a retail store on the ground floor. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, the estate of Russell Kolody, in the transaction. The buyer was David Zahabian.
NEW YORK CITY — JLL has arranged a $19 million acquisition loan for a mixed-use property in the SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in acquiring mixed-use assets with the intent to restore and redevelop them.