SCARSDALE, N.Y. —Houlihan-Parnes Realtors has arranged a $1.7 million loan to refinance an 8,500-square-foot retail property in Westchester. Located at 58-72 Garth Road, the asset is nearby the Scarsdale Metro-North train station. Richard Hendey and Mike O’Neill ofHoulihan-Parnes secured a seven-year, non-recourse loan on behalf of the undisclosed borrower. Terms of the financing included a 4.87 percent fixed rate on a 30-year amortization schedule. The lender was a local bank.
NEW YORK CITY — Hodges Ward Elliott has brokered the $43.8 million sale of a 20-story multifamily tower in the South Williamsburg neighborhood of Brooklyn. Located at 424 Bedford Ave., the 63,866-square-foot property includes 66 units. Amenities include a fitness center, gardens, BBQ area, dog run and a rooftop deck. Will Silverman, Paul Gillen, Daniel Parker and Ariel Tambor of Hodges Ward Elliott represented the seller, East End Capital and KBS, in the transaction. The buyer was Global Holdings Group.
NEW YORK CITY — Cushman & Wakefield has secured a $15 million acquisition loan for a mixed-use development site in the Jamaica neighborhood of Queens. Located at 90-02 168th St., the parcel allows for 738,000 buildable square feet. Preston Flammang and Anthony D’Amelio of Cushman & Wakefield represented the borrower, BRP Cos., in the transaction. Turnbridge Real Estate Credit Strategies provided the interest-only financing.
NEW YORK CITY — Marcus & Millichap has brokered the $4.7 million sale of a four-unit apartment property in Brooklyn. Located at 91 1st Place, the five-story property measures 7,200 square feet. Shaun Riney, Michael Salvatico and John Barney 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 — KeyBank Community Development Lending and Investment (CDLI) has provided $24.5 million in financing for the acquisition and renovation of Highbridge Franklin and Twin Parks West, two New York City Housing Authority (NYCHA) properties in the Bronx. Together, the two properties total 647 units of permanent affordable housing. Both properties are part of NYCHA’s plan to finance, renovate and manage 1,700 apartment units across 17 developments under its Permanent Affordability Commitment Together (PACT) program. PACT is New York City’s implementation of the federal Rental Assistance Demonstration (RAD) program. KeyBank provided the financing to borrower Gilbane Development Co. Terms of the financing were not disclosed.
NEW YORK CITY — Marcus & Millichap has negotiated the $2.2 million sale of a four-unit apartment building in the Stuyvesant Heights neighborhood of Brooklyn. The property is located at 231 Bainbridge St. Shaun Riney and Daniel Greenblatt 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 — The Chrysler Building, one of New York City’s most iconic skyscrapers has been put up for sale by its owners, Emirati investment firm Mubadala and real estate group Tishman Speyer, according to media reports. The 77-story building opened in 1930 and stands 1,046 feet tall. It was the world’s tallest building until it was dethroned by the Empire State Building in 1931. Mubadala paid $800 million for a 90 percent stake in the building in 2008. Tishman Speyer, which had bought the building outright for a reported $210 million to $250 million in 1997, retained a 10 percent stake. The Abu Dhabi investment fund has reportedly hired CBRE group to sell the property.
NEW YORK CITY — GFI Realty Services has brokered the $15.5 million sale of a six-story, pre-war apartment building in the Madison section of Brooklyn. Located at 2261 Ocean Ave., the 52,812-square-foot property consists of 54 rent-stabilized apartments. Erik Yankelovich of GFI represented the seller, a group of local investors, in the transaction. Josh Orlander of GFI represented the buyer, who was undisclosed.
NEW YORK CITY — Marcus & Millichap has negotiated the $4.1 million sale of a multifamily building in the Carroll Gardens neighborhood of Brooklyn. Located at 306 Union St., the 4,620-square-foot property includes four units. Shaun Riney, Michael Salvatico and John Barney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
CLIFTON PARK, N.Y. — Vanguard-Fine has brokered the $3.6 million sale of a 15,000-square-foot retail property in Clifton Park. Located at 1617 Route 9, the property was built in 2017 and is currently occupied by discount tool and equipment retailer Harbor Freight Tools. Ken Brownell & Barry Feinman of Vanguard-Fine represented the seller, Cliftonparkwood LLC, in the transaction. The buyer was Agree Realty.