REBusinessOnline

NKF Capital Markets Negotiates $18.5M Sale of Retail Property in Horseheads, New York

HORSEHEADS, N.Y. - NKF Capital Markets has brokered the sale of Southern Tier Crossing, a retail property located at Horseheads. A joint venture between DRA Advisors and DLC Management acquired the property from DDR for $18.5 million. Southern Tier Crossing comprises a 174,642-square-foot retail asset within a 522,734-square-foot power center in Upstate New York. At the time of sale, the property was 89 percent leased to a variety of tenants, including Dick's Sporting Goods, Jo-Ann Fabric, …

Media iQ Digital Leases Two Floors at 261 Fifth Avenue in Manhattan

NEW YORK CITY - Media iQ Digital, a global analytics and technology company, has leased more than 23,000 square feet comprising the entire 25th and 26th floors of 261 Fifth Avenue in Manhattan. The company is nearly tripling its space by relocating from 8,013 square feet at 853 Broadway. The lease brings the 405,000-square-foot building to more than 87 percent occupancy. Other tenants at the building include Himatsingka USA, Richloom Fabrics Group, Dan Klores Communications and Tumi Inc. The …

Chicago Pacific Founders Acquires 100-Unit Seniors Housing Community in Central New York

LIVERPOOL, N.Y. - Chicago Pacific Founders (CPF) has acquired Parkrose Estates, a 100-unit independent living community in the Syracuse suburb of Liverpool, for an undisclosed price. CPF made the purchase along with its subsidiaries, Grace Management and CPF Living Communities. Grace Management will take over operations at the community. CPF plans to make improvements to the campus, but further details were not

Monticello Provides $45.3M Financing for Three-Property Seniors Housing Portfolio in New York

NESCONSET, N.Y. - Monticello Asset Management has provided $45.3 million in bridge-to-HUD financing to Nesconset Property NY LLC. The borrower will use the funds to acquire two adult daycare facilities and a 242-bed skilled nursing facility in New York State. Although the names and locations of the properties were not disclosed, the borrower is named for Nesconset, a town on Long Island. The adult daycare facilities can house up to 165 seniors and were built in 1993 and 1994. The skilled …

Cushman & Wakefield Arranges 99-Year Ground Lease for Manhattan Property

NEW YORK CITY — Cushman & Wakefield has arranged a 99-year ground lease for 311 West 42nd Street in the Midtown West neighborhood of Manhattan. Terms of the lease were not disclosed. Taconic Investment Partners and National Real Estate Advisors have leased the property from owners 1199SEIU United Healthcare Workers East and plan to demolish the existing building and construct a 350,000-square-foot rental building with ground-floor retail. The planned development will include an affordable …

Equilibrium Equities Acquires 270,000 SF Industrial Facility in Upstate New York

NEW YORK CITY — Investment and development company Equilibrium Equities has acquired a 270,000-square-foot distribution center at 340 Upper Oakwood Ave. in Elmira Heights for an undisclosed price. The multi-tenant property was constructed in 1962 as a grocery distribution warehouse and includes 45 tailgate loading doors and a clear height of up to 28 feet. Equilibrium acquired the property from a former owner of Horwitz Paper, which was a large wholesale distributor of paper products and …

Ariel Property Advisors Brokers $7.2M Sale of Multifamily Building in Hamilton Heights

NEW YORK CITY — Ariel Property Advisors has brokered the sale of 523 West 135th Street, a 21-unit multifamily building in the Hamilton Heights neighborhood of Manhattan. The five-story, 13,770-square-foot property sold for $7.2 million, or $343,000 per unit. Victor Sozio, Shimon Shkury, Michael A. Tortorici, Matthew L. Gillis, and Orry Michael of Ariel Property Advisors represented the undisclosed seller and procured the buyer in the transaction, who was also undisclosed. The property is …

HFF Arranges $260M Construction Financing for New Tower at Mixed-Use Project in Manhattan

NEW YORK CITY — HFF has arranged a $260 million construction loan for the development of 202 Broome Street. The 16-story tower will rise at Essex Crossing, a planned mixed-use project on Manhattan’s Lower East Side. Evan Pariser, Michael Gigliotti, Scott Aiese, Alex Staikos and Jackie Ferrer of HFF arranged the 42-month loan on behalf of the developer, Delancey Street Associates, a joint venture comprising Taconic Investment Partners, L+M Development Partners, BFC Partners and Goldman …

Cushman & Wakefield Negotiates $17.5M Sale of Multifamily Building in Williamsburg

NEW YORK CITY — Cushman & Wakefield has negotiated the $17.5 million sale of a multifamily building in the Williamsburg neighborhood of Brooklyn. The buyer was Golden Lioness Corp. Located at 347 Berry St., the six-story, loft-style building includes 23 residential units and a 606-square-foot retail storefront as well as a partially enclosed parking lot that accommodates up to nine vehicles. The 21,500-square-foot building was converted from an ice cream factory into apartments in 2016. …

Speedway Agrees to Acquire 78 Express Mart Locations in New York

SYRACUSE, ROCHESTER, BUFFALO, N.Y. — Speedway LLC has signed an agreement to purchase 78 Express Mart store locations held by Petr-All Petroleum Consulting Corp. The stores are located primarily in the Syracuse, Rochester and Buffalo markets. Following the acquisition, the stores will be rebranded as Speedway locations. The transaction is expected to close by the end of the third quarter. Speedway, headquartered in Enon, Ohio, is the nation’s second largest company-owned and operated …