WHITE PLAINS, N.Y. — NorthMarq Capital’s Greater Westchester New York/Connecticut office has arranged $4.2 million in refinancing for a retail property located at 350-360 Tarrytown Road in White Plains. The 10-year loan, provided by a local bank, features a 30-year amortization schedule. The 18,056-square-foot retail center is anchored by a Men’s Wearhouse. Robert Ranieri of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower.
NEW YORK CITY — Los Angeles-based Thorofare Capital has funded a $4.2 million adaptive reuse loan for a mixed-use property located in Brooklyn’s Bushwick neighborhood. The undisclosed borrower plans to implement a capital improvement program at the property, located at 599 Johnson Ave., to convert the asset into entertainment, food and beverage and retail use.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a walk-up apartment building, located at 630 Hudson St. in New York City’s Greenwich Village. 630 Hudson LLC purchased the property for $6.6 million from Hudson Unity LLC. The four-story, 6,158-square-foot residential building features six one-bedroom apartments, five of which are rent stabilized, a basement and ground-floor retail space. Gabriel Saffioti of Eastern Consolidated represented the buyer, while Andrei Danshes and Roberto Ortiz, also of Eastern Consolidated, represented the seller in the transaction.
NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of an apartment building located at 2275 Morris Ave. in the University Heights neighborhood of the Bronx. A Great Neck, Long Island-based real estate holding company purchased the building for $2.7 million from an undisclosed seller. The five-story walk-up building features 25 apartment units and five ground-floor retail units. The buyer facilitated the acquisition with a five-year loan, which features a 3.5 percent interest rate and a 30-year amortization schedule. Jeremiah Houlihan negotiated the transaction. The seller was represented by Valentin Djonovic P.C. and the buyer was represented by James Prince, Esq.
NEW YORK CITY — GFI Realty Services has arranged the sale of an apartment building located at 138 St. Nicholas Ave. in the Bushwick section of Brooklyn. The three-story walk-up sold for $1.2 million or 16 times the rent roll. Constructed in 1931, the property features six apartments. Kobi Zamir of GFI Realty Services represented the buyer, and Ron Kavrai, also of GFI, represented the seller in the transaction. The buyer and seller are both local investors.
PITTSFORD, N.Y. — Marcus & Millichap has brokered the sale of an 11-property manufactured housing portfolio located in western New York and Pennsylvania. Federal Capital Partners and Horizon Land Co. purchased the 2,413-site portfolio from Pittsford-based Morgan Management. Jonathon McClellan, Kyle Baskin, J.D. Parker and Mark Taylor of Marcus & Millichap represented the seller in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a retail co-op unit at 85 Fifth Ave. in Manhattan’s Ladies’ Mile Historic District. The property sold in an all-cash transaction for $86 million, or $6,643 per square foot. The 12,946-square-foot turnkey retail space features 6,406 square feet of ground floor space with 15-foot ceiling heights and 6,540 square feet of sellable lower level space with 10-foot ceiling heights. The property is currently leased to Anthropologie until April 2021. Bob Knakal and John Ciraulo of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.
NEW YORK CITY — Muss Development LLC has launched a $43 million renovation and repositioning program for the 667-unit New York Marriott at the Brooklyn Bridge, located at 333 Adams St. in downtown Brooklyn. The first phase of renovation, including The Bar, front desk and M Club Lounge, will be revealed in May. The renovation of the hotel’s ballroom and meeting rooms is slated for completion in September. Additionally, the redesign of the guestrooms will be revealed this spring, with renovations expected to be complete in 2016.
NEW YORK CITY — Meridian Capital Group has arranged $48 million in refinancing for an office property located at 1156 Avenue of the Americas in New York City. The borrower was APF Properties. The seven-year loan, which was provided by a regional balance sheet lender, features a fixed rate, a five-year extension option and five years of interest-only payments followed by a 30-year amortization schedule. The nine-story office property offers 71,900 square feet of office space and 8,000 square feet of retail space. Tal Bar-Or of Meridian negotiated the financing on behalf of the borrower.
NEW YORK CITY — WeWork has signed a 19-year lease for 180,000 square feet of office space at 1460 Broadway in Times Square. The company will occupy the entire 16-story building except for the second and third floors, which will be converted into a multi-level retail space. WeWork, a provider of shared workspace, community and services for entrepreneurs, freelancers, startups and small businesses, will take occupancy of the property later this year. The property is jointly owned by Himmel + Meringoff and The Swig Company. Additional terms of the lease were not released.
