New York

CPEX Brokers $5.25M Sale of Mixed-Use Property in NYC

by Amy Works May 28, 2015

NEW YORK CITY — CPEX has brokered the sale of a mixed-use property located at 173 Court St. in New York City’s Cobble Hill historic district. The property sold for $5.25 million, or $1,129 per square foot. The four-story building features approximately 2,000 square feet of commercial space and 3,000 square feet of residential space. Timothy King, Keat Chew and Ryan Condren of CPEX represented the seller and procured the buyer in the transaction. The names of the seller and buyer were not released.

May 28, 2015

New York Northeast Office

Colliers Brokers $21.5M Sale of 268,938 SF Office Building in Staten Island

by Amy Works May 27, 2015

NEW YORK CITY — Colliers International has brokered the sale of Edgewater Plaza, a seven-story office building located at One Edgewater Plaza in Staten Island. Edgewater Plaza Loft LLC acquired the 268,938-square-foot property for $21.5 million. At the time of sale, 181,172 square feet of the property was occupied by The City of New York Board of Elections, The New York Police Department and Staten Island University Hospital, among others. Jacklene Chesler, Richard Madison and Jeffrey Oram of Colliers represented the undisclosed seller in the transaction.

May 27, 2015

New York Northeast Retail

Kalmon Dolgin Arranges $9M Sale of 90,000 SF Property in the Bronx

by Amy Works May 27, 2015

NEW YORK CITY — Kalmon Dolgin Affiliates Inc. (KDA) has arranged the sale of a 90,000-square-foot flex property located at 1351 and 1339 Jerome Ave./1320 and 1342 Inwood Ave. in the Mount Eden section of the Bronx. Jerome Avenue Storage Associates LLC, operating as American Self-Storage, purchased the property by executing its lease option to buy for $9 million from Boss Realty LLC/Plaza Packaging. The property features high ceilings, multiple loading docks and drive-in entrances. Grant Dolgin and Dmitri Gourianov of KDA represented both parties in the transaction.

May 27, 2015

New York Northeast Retail

TerraCRG Arranges $10M Sale of Commercial Building in Brooklyn

by Amy Works May 27, 2015

NEW YORK CITY — TerraCRG has arranged the sale of a commercial building located at 401 State St. in the Boerum Hill neighborhood of Brooklyn. The 12,000-square-foot building sold for $10 million, or $833 per existing square foot. The property was sold vacant and is ideal for a community facility, office or residential conversion. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented seller Joseph Streicher, while Mark Kennedy of Douglass Elliman represented the buyer in the transaction.

May 27, 2015

New York Northeast Office

Himmel + Meringoff Properties Adds New Tenant at Six East 32nd Street in NYC

by Amy Works May 27, 2015

NEW YORK CITY — Himmel + Meringoff Properties has leased 30,720 square feet of office space to Dataminr at Six East 32nd St. in New York City’s NoMad district. The company has signed a 10-year lease for two floors at the 11-story office building. Dataminr, which transforms real-time data from Twitter and other public sources into actionable signals, is relocating and expanding from 99 Madison Ave. Jason Vacker represented the ownership, Himmel + Meringoff Properties, while Matthew McBride of CBRE represented the tenant.

May 27, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Brokers $3.8M Sale of Mixed-Use Buildings in Queens

by Amy Works May 26, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of two contiguous mixed-use buildings in the Bayside neighborhood of Queens. Located at 39-32/34 Bell Blvd., the properties sold for $3.8 million, or $731 per square foot. Totaling 5,200 square feet, the assets feature two retail stores and four residential units. Stephen Preuss of Cushman & Wakefield represented the seller, while Jimmy Ma of Golden Bridge Realty represented the buyer in the transaction. The names of the seller and buyer were not released.

May 26, 2015

Multifamily New York Northeast

Joint Venture to Convert Elementary School to Multifamily Property in Averill Park

by Amy Works May 22, 2015

AVERILL PARK, N.Y. — A joint venture between Sunrise Management & Consulting, Robert Bucher Architects and JPM Contractors is converting Sand Lake Elementary School into a Homeroom Lofts, a 31-unit apartment community in Averill Park. Built in 1929, the converted property will combine original detail and modern amenities, including sliding glass wall systems to maximize space and natural light, stainless steel appliances, stone countertops, sophisticated glass and ceramic tile bathrooms and solar shade window treatments. Community amenities will include a garden, courtyard terrace and 1.75 acres of green space. Homeroom Lofts is the first development project for the joint venture.

May 22, 2015

New York Northeast Office

USAA Real Estate Co., Waterman Interests Acquire Two Office Properties in Manhattan

by Amy Works May 22, 2015

NEW YORK CITY — USAA Real Estate Co. has partnered with Waterman Interests LLC to acquire two mid-block office properties in Manhattan’s Times Square South market for an undisclosed sum. Known as the Midtown West Collection, the portfolio includes the 10-story, 91,466-square-foot property at 234 West 39th St. and the 17-story, 118,338-square-foot building located at 142 West 36th St. The assets are located within walking distance from Times Square and Herald Square subway hubs, as well as the 34th Street retail corridor and Hudson Yards, which is slated to come online in 2016. Terms of the transaction were not released.

May 22, 2015

Loans New York Northeast Office

HFF Arranges $38.1M in Equity for Manhattan Office Property

by Amy Works May 22, 2015

NEW YORK CITY — HFF has arranged a $38.1 million preferred equity investment in an office property located at 95 Morton St. in Manhattan’s Midtown South neighborhood. HFF worked on behalf of the owner, Brickman, to secure the preferred equity through a national REIT for the 205,000-square-foot Class A property. The capital will be used to complement existing low-leverage financing, support further lease-up and allow for additional base building capital improvements. Originally built in 1911, the property was renovated in 2000 and is 88 percent occupied by a variety of technology, advertising, media and information tenants. Jay Marshall, Christopher Peck and David Fowler of HFF secured the financing for the borrower.

May 22, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Brokers $20M Sale of Mixed-Use Building in Manhattan

by Amy Works May 22, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building at 1004-1008 Second Ave. in Manhattan’s Midtown East neighborhood. An undisclosed buyer acquired the five-story property in an all-cash transaction for $20 million, or $1,282 per square foot. The 15,605-square-foot property features two commercial units, occupied by restaurants, and 25 residential units, of which 19 are free market, four are rent stabilized and two are rent controlled. Clint Olsen of Cushman & Wakefield represented the undisclosed seller, while Ricky Braha of JTRE Holdings represented the buyer in the transaction.

May 22, 2015

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