WEST NEW YORK, N.J. — Marcus & Millichap has brokered the $2 million sale of a 14-unit apartment property located in West New York, a western suburb of New York City. The property is located at 6115 Madison St. and was constructed in 1934. Jonathan Zamora of Marcus & Millichap represented the seller and procured the buyer. Both parties were private investors that requested anonymity.
SOUTH AMBOY, N.J. — Cronheim Mortgage has arranged a $32 acquisition loan for Bayside Cove Apartments, a 127-unit Class A multifamily complex in South Amboy, a southwestern suburb of New York City. The borrower was an undisclosed private investor. A local bank provided the seven-year loan, which carries two years of interest-only payments and a fixed interest rate of 3.3 percent. Located at 100 Celecki Drive, the complex was constructed in 2018 and features one- and two-bedroom floor plans.
CRANFORD, N.J. — Newmark Knight Frank (NKF) has negotiated a 35,000-square-foot office lease for the new headquarters of law firm Lerner David in Cranford, a western suburb of New York City. Located at 20 Commerce Drive, the building features a cafeteria, conference centers and direct access to the Garden State Parkway. Lerner David moved its operations from Westfield, New Jersey, where it had operated for nearly all of its 50-year history. Architecture firm Kimmerle Group designed the office build-out for Lerner David. David Simpson of Newmark Knight Frank represented the firm in the lease negotiations. Signature Acquisitions is the owner of 20 Commerce Drive.
SPRINGFIELD, N.J. — Greystone has provided a $20 million Freddie Mac loan to refinance The Cove at Springfield Apartments, a multifamily property in Springfield, a western suburb of New York City. The loan carries a seven-year term with a 30-year amortization schedule and interest-only payments for the first two years. Located at 118 Victory Rd., The Cove at Springfield Apartments is a garden-style community that features 91 units with one-, two-, and three-bedroom floor plans and amenities such as a clubhouse and a fitness center. Dan Sacks of Greystone originated the loan.
ROSELLE, N.J. — NAI DiLeo-Bram & Co., has brokered the sale of a 7,690-square-foot retail and office property in Roselle, a southwestern suburb of New York City. Located at 111-117 West Second Ave., the property offers convenient access to the Garden State Parkway and the Roselle Park transit station. The building was leased to three retail tenants and one office tenant at the time of sale, and the new buyer plans to reposition the building for residential use. Marc Shein and Matthew DiLeo of NAI DiLeo-Bram represented the seller and procured the buyer in the transaction. Both parties were undisclosed.
RUTHERFORD, N.J. — NAI James Hanson has negotiated a 3,000-square-foot office lease for janitorial service provider Adamas Building Services LLC in Rutherford, a northwestern suburb of New York City. The space is located at 75 Orient Way, a 23,501-square-foot office building, and offers convenient access to the Garden State Parkway and the New Jersey Turnpike. The tenant is relocating from its previous office in Newark. Darren Lizzack and Randy Horning of NAI James Hanson represented the landlord, 75 Orient Way LLC, in the lease negotiations.
CHAMBERSBURG, PA. — Kislak Co. Inc. has brokered the $5 million sale of Coldbrook Meadows Apartments, a 62-unit multifamily complex in Woodbridge, approximately 50 miles southwest of Harrisburg. Located at 740-780 Cumberland Ave., the 79,000-square-foot property includes three buildings with 10 one-bedroom, 44 two-bedroom and eight three-bedroom units. The property was constructed in 1970. Matt Wolf of Kislak Co. represented the undisclosed seller in the transaction. Wolf also procured the buyer, a private investor.
LITTLE FERRY, N.J. — Venture One Real Estate has acquired a 31,222-square-foot industrial building in Little Ferry, a northwestern suburb of New York City. Located at 3 Alsan Way, the single-tenant building was constructed in 1970 and features four exterior docks and parking for 35 vehicles. Venture One will implement a capital improvement plan that will feature office renovations, fresh paint jobs and the installation of LED lights. Jeff Chaus and Brian Scheuer of Chaus Realty LLC represented Venture One in the transaction. Justin Kang of Good Neighbor Realty represented the undisclosed seller.
GILLETTE, N.J. — JLL has negotiated a 2,300-square-foot medical office lease for Ivy Rehab Physical Therapy in Gillette, a southwestern suburb of New York City. The tenant, a division of Ivy Rehab Network, signed a seven-year lease within Valley Mall, located at 977 Valley Road. Other tenants include HomeGoods, T.J. Maxx, Old Navy and Famous Footwear. Marta Villa of JLL represented the building owner, Croman Development Corp., in the lease negotiations. Donovan Realty, along with Corey Taber of Equity LLC, represented Ivy.
TINTON FALLS, N.J. — JLL has brokered the $66 million sale of Avalon Tinton Falls, a 216-unit multifamily property in Tinton Falls, approximately 45 miles east of Trenton. Located at 100 Autumn Drive, the garden-style community features one-, two- and three-bedroom floor plans averaging 1,101 square feet. Amenities include a fitness center, swimming pool and outdoor lounge. The community was constructed in 2008. Jose Cruz and Michael Oliver led a JLL team that represented the seller, AvalonBay Communities Inc., in the transaction. A private investor purchased the property.