NEW YORK CITY — CIT Group has provided a $35 million loan for the construction of an office building in Manhattan. The six-story, 74,000-square-foot project is located at 323 E. 61st St. CIT provided the senior secured loan. The developer is a joint venture between The William Macklowe Company and LaSalle Property Fund. The designer is Daniel Goldner Architects. The completion date for the project has yet to be announced.
PLAINVIEW, N.Y. — Lee & Associates NYC has negotiated the $2.8 million sale of an 18,000-square-foot self-storage facility in Plainview. Located at 1522 Old Country Road, the two-story property includes 1,500 square feet of office space on the second floor. Kelly Koukou of Lee & Associates represented the undisclosed seller in the transaction. The buyer was Safeguard Self Storage.
NEW YORK CITY — Square Mile Capital has provided a $138.5 million preferred equity investment in the recapitalization of ALTA, a 43-story apartment tower in Long Island City. The property is located at 29-26 Northern Blvd. Simon Baron Development LLC broke ground on the 467-unit property in 2015 and completed the project earlier this year. Building amenities include a 10,000-square-foot fitness center, 50-foot indoor swimming pool, multiple roof decks, a state-of-the-art golf simulator and a dog spa. ALTA was developed by affiliates of Simon Baron Development LLC. Leasing of the property commenced in May.
SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites – Syracuse Airport, a 166-room hotel in Syracuse. The sales price was undisclosed. Jerry Swon and Daniel Zagoria of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was KPG Hotels. The property is located approximately four miles from Syracuse Hancock International Airport. Amenities at the hotel include complimentary buffet breakfast, onsite restaurant and bar, indoor heated pool, fitness center and business center.
NEW YORK CITY — Rosewood Realty Group has negotiated the $3.7 million sale of a four-story apartment building in the Flatbush neighborhood of Brooklyn. Located at 2522 Newkirk Ave., the 15,800-square-foot building was built in 1915 and consists of 16 residential units. Michael Guttman and Aaron Jungreis of Rosewood represented the seller, Aulder Capital, in the transaction. Roswood also represented the buyer, Sutton Equity Capital.
NEW YORK CITY — JLL Capital Markets has secured a $26 million loan for the refinancing of a three-property multifamily portfolio in the Bushwick neighborhood of Brooklyn. The properties are located at 184 Noll St., 286 Stanhope St. and 324 Melrose St. Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Adam Schwartz and Matt Fagella of JLL secured the interest-only loan for borrower Cayuga Capital Management through lender Citigroup Global Markets. The 62,000-square-foot portfolio consists of 63 residential units and six commercial units with a combined 5,650 square feet of office space.
NEW YORK CITY — The Dermot Company has acquired the Kestrel, an eight-story, 126-unit multifamily building in Brooklyn’s Windsor Terrace neighborhood. Located at 33 Caton Place, the property was constructed in 2014. Amenities include a resident lounge, children’s playroom, fitness center, yoga room, sauna, pet spa and a landscaped roof deck with grilling areas and private cabanas. HFF represented The Dermot Company in the transaction. The seller was undisclosed.
NEW YORK CITY — Brax Realty has brokered the $12.2M sale of a two multifamily buildings on the Upper East Side of Manhattan. The properties, which were built in 1910, are located at 432-434 E. 89th St. and contain 41 residential units. Alan Stenson of Brax Realty represented the buyer, S.W. Management, in the transaction. The seller was H S Realty Associates.
NEW YORK CITY — Marcus & Millichap has arranged the $2 million sale of a four-story, mixed-use building in the Bedford-Stuyvesant section of Brooklyn. Located at 40 Nostrand Ave., the property consists of one retail unit and six residential units. Matt Fotis and Dylan Renicker of Marcus & Millichap’s Manhattan office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
NEW YORK CITY — Marcus & Millichap has negotiated the $15.2 million sale of two mixed-use properties in Manhattan. Located at 162 Third Ave. and 317 E. 5th St., the two properties consist of 24 residential units and ground-floor retail space. 162 Third Ave. is a four-story, 9,500-square-foot building, 317 E. 5th St. is a six-story, 8,100-square-foot building. Barbara Dansker and Steven Lusby of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also undisclosed.
