RICHFIELD, N.Y. — Marcus & Millichap has brokered the sale of Bronner Manor, a 24-unit apartment community in Richfield Springs, a city located in central New York. The property was built in 1981 and offers one- and two-bedroom units, as well as onsite laundry facilities. Chip Collins of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a private investor, in the transaction. John Krueger of Marcus & Millichap also worked on the deal, which closed at a sales price of just over $1 million.
NEW YORK CITY — Foot Locker will open a 25,000-square-foot store at 605 W. 181st St. in Manhattan’s Washington Heights neighborhood. The locally based athletic footwear retailer will treat this location as a “power store” that offers experiential activities like creating customized sneakers and gaming zones. The store is slated to open this fall. New York-based Marx Realty owns the property in which the store will be housed.
COMMACK, N.Y. — The commercial real estate group of community bank Washington Trust has provided a $13.5 million loan for the refinancing of a 143-room Hampton Inn hotel located in Commack, a city on Long Island. The five-story hotel, which was built in 1988, is situated near the Long Island Expressway and offers standard amenities such as a pool, fitness center, a business center and meeting space. The borrower, an affiliate of hospitality owner-operator Chartwell Hotels, will use part of the proceeds to upgrade the lobby, refurnish the guestrooms and expand the exercise room. Specific loan terms were not disclosed.
NEW YORK CITY — JLL has negotiated the sale of a 12,452-square-foot mixed-use building in Manhattan for $11.5 million. The property, which includes residential and retail space, is situated between the Empire State Building and the Flatiron Building in the borough’s Midtown area and offers proximity to several subway stations. Brendan Maddigan, Stephen Palmese, Winfield Clifford, Ethan Stanton, Michael Mazzara and Clint Olsen of JLL represented the seller, local investment firm, Tsoumpas 157 Group LLC, in the sale. The buyer was private investor Shaun Ajodan.
NEW YORK CITY — Extell Development Co. has topped out Brooklyn Point, a 68-story residential tower that will be the borough’s tallest building. Designed by Kohn Pedersen Fox with interiors designed by Katherine Newman of AD100, the property will ultimately offer studio, one-, two- and three-bedroom floor plans. Amenities will include a 65-foot indoor saltwater swimming pool, 35-foot rock climbing wall and yoga studio, Pilates and cycling studios and a squash/basketball court, as well as a spa with an infrared sauna, men’s and women’s steam rooms and a hot tub. Brooklyn Point is situated within City Point, a 600,000-square-foot mixed-use development that offers retail and entertainment space. Units will begin at $850,000 with the first closings slated for early 2020.
BROOKLYN, N.Y. — JLL has negotiated the $41 million sale of 151 Kent Avenue, a family-owned multifamily property in Brooklyn. The building, which features 46 loft-style units, was fully occupied at the time of sale and is located near several waterfront parks and employment centers. Brendan Maddigan and Ethan Stanton of JLL represented the seller in the transaction. The buyer was a local liability company that was not represented by an outside brokerage firm. Additional terms of sale were not disclosed.
NEW YORK CITY — SL Green Realty Corp. has signed First Republic Bank to a 211,521-square-foot lease at 460 W. 34th St. in the Hudson Yards neighborhood on Manhattan’s west side. First Republic Bank will occupy a portion of the ground and mezzanine floors with two new retail bank branches, as well as the entire second through sixth floors for its corporate office space. The lease term is 15 years. SL Green, which is self-described as the largest office landlord in New York City, had previously entered into a contract to purchase a majority and controlling interest in the building and is scheduled to close on the acquisition in May. Media outlets reported at the time that the acquisition values the 20-story office building at $440 million. SL Green plans to redevelop the 638,000-square-foot, Class A office tower with work to commence immediately following the acquisition. According to SL Green, the transaction marks the company’s first major investment in the Hudson Yards neighborhood. The building, located at the intersection of Hudson Yards and Manhattan West, was once known as the Master Printers Building. The redevelopment plans will honor that industrial heritage, according to SL Green. The project will include relocation …
CANANDAIGUA, N.Y. — Acres Capital Corp. has provided a $37 million bridge loan to complete the construction and stabilization of the Canandaigua Finger Lakes Resort, a Hilton-branded resort in Canandaigua. Located at 205 Lakeshore Drive, the property will include 109 guest rooms, 44 residential condominium units, a restaurant and a 13,000-square-foot conference space. Mark Fogel of Acres provided the financing to developers Robert Murphy and David Genecco. Hospitality management firm Hay Creek Hotels and Restaurants will handle the design, development and operations of the resort.
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.