NEW YORK CITY — New York Life Real Estate Investors has originated $205 million in financing for an office tower, located at 757 Third Ave. in Midtown Manhattan. Multi-Employer Property Trust, as advised by Bentall Kennedy (U.S.) Limited Partnership, owns the 503,000-square-foot Class A office property. The loan has a term of 15 years. Eric Becher of New York Life Real Estate Investors’ New York regional office negotiated the transaction.
MINEOLA, N.Y. — Mill Creek Residential has completed vertical construction for Modera Mineola, a 275-unit apartment community located two blocks from the Mineola Long Island Rail Road transit center in Mineola. The property will feature a mix of studio, one- and two-bedroom units with wood plank-style flooring, wall-to-wall carpeting in the bedrooms, spa-like bathrooms with quartz countertops and under-mounted sinks, gourmet kitchens, stainless steel appliances, walk-in closets and full-size washers and dryers. Community amenities will include a clubroom, 24-hour fitness center, yoga room, business center, swimming pool with sundeck, outdoor kitchens with grills, a bocce court, and an outdoor fireplace. Online leasing for the property has started and move-in is expected for August.
NEW YORK CITY — RKF has brokered the sale of a 19,008-square-foot commercial condominium located at 100 West 93rd St. on the Upper West Side in New York City. Coltown Properties acquired the property for $16.5 million and subsequently leased the property to Manhattan Children’s Center, a school that provides scientifically based treatment and education to children with autism spectrum disorders. The two-story asset features 13,834 square feet on the ground floor and 5,174 square feet on the second floor. David Abrams and Marc Finkel of RKF represented the buyer, while Michael Dubin of Savvit Partners represented the seller, Starrett Development. Additionally, Abrams and Finkel represented both parties in the lease transaction.
NEWBURGH AND HYDE PARK, N.Y. — HFF has closed the sale of a two-property Ace Self-Storage portfolio totaling 630 units and 95,878 square feet in Upstate New York. Real Estate Technology sold the assets to World Class Capital Group LLC for an undisclosed price. The portfolio comprises a 388-unit property located at 735 and 765 South St. in Newburgh and a 241-unit facility at 1594 Route 9G in Hyde Park. The buyer plans to add additional units to both facilities, which include climate- and non-climate-controlled units and on-site management. Barbara Guffey led the HFF team that represented the seller in the transaction.
NEW YORK CITY — Admiral Capital Group and Four Winds Real Estate have acquired a three-building mixed-use portfolio in downtown Manhattan for an undisclosed price. The portfolio features 61 residential units and four commercial units at 106 Ridge St., 118 Ridge St. and 110 Ridge St. The acquisition is Admiral’s first investment in New York City, and it expands Four Winds’ existing multifamily portfolio on the Lower East Side. The seller was a private investor group that owned the properties for more than 30 years. Jarett Kaplus of Admiral and David Schneiderman and Joshua Landau of Four Winds led the transaction teams. The sale was brokered by Eastern Consolidated.
NEW YORK CITY — GFI Realty Services has brokered the sale of a multifamily property located at 15-21 Crooke Ave. in Brooklyn’s Prospect Park South district. A local investor acquired the property for $14.2 million, or $264,000 per unit, in an off-market transaction from an undisclosed buyer. The six-story elevator building features 54 residential units. Erik Yankelovich of GFI Realty represented the buyer in the transaction.
NEW YORK CITY — Colliers International has acquired Madison, Conn.-based Strategic Building Solutions (SBS), a project management firm. The company, which will rebrand to Colliers International, expands Colliers’ project management expertise in the Northeast and provides national best-in-class energy sustainability management, commissioning and retro-commissioning services. SBS currently manages $1 billion worth of projects and 10 million gross square feet of LEED-registered space within its commissioning and energy services group. The integration of SBS will add 70 multi-disciplined professionals to the Colliers team.
SMITHTOWN, N.Y. — Sovereign Realty Group has brokered the sale of a freestanding Burger King property located at 942 West Jericho Turnpike in Smithtown. Situated on 2 acres, the 3,610-square-foot property sold for $2.5 million. The property was formerly occupied by a Wendy’s and sat vacant for many years until a local Burger King franchisee signed a long-term lease for the property. Frank Caporrino and Clem Cote of Sovereign Realty Group represented the buyer and seller in the transaction. The names of buyer and seller were not released.
NEW YORK CITY — TerraCRG has arranged the sale of a development site located at 319 Schermerhorn St. in downtown Brooklyn. Adam American Real Estate and Naveh Shuster LTD purchased the site for $33 million from SC Nevins LLC. The buyer plans to develop a 21-story building on the site, which totals 87,445 square feet. The building will feature 73 residential condominium units in a mix of studio, one-, two- and three-bedroom layouts, 3,100 square feet of retail space, a lounge, bike storage, a fitness center, a children’s playroom, a doorman and a courtyard. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented the buyers and seller in the transaction.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of an apartment building located at 975 Walton Ave. in the Bronx. Brooklyn-based investor Benzion Kohn purchased the property for $31 million from E&M Associates. The six-story property features 182 apartment units across 278,000 square feet and 1,000 square feet of commercial space. Aaron Jungreis of Rosewood Realty represented the seller in the transaction.