REBusinessOnline

HFF Brokers $11.4M Sale of Medical Office Building on Long Island

GARDEN CITY, N.Y. — HFF has brokered the $11.4 million sale of a medical office building in the Long Island village of Garden City. Located at 224 7th St., the 16,920-square-foot property was built in 1969 and converted to a medical imaging facility in 2007. The facility is currently triple-net leased to the New York University School of Medicine. HFF represented the seller, Meridian Imaging Group, in the transaction. The buyer was undisclosed. Inland Real Estate Acquisitions facilitated the …

Cronheim Arranges $5M Refinancing for Office Building in Manhattan

NEW YORK CITY — Cronheim Mortgage has arranged a $5 million loan to refinance a 12-story office building in Midtown, Manhattan. Located at 32 E. 31st St., the 52,000-square-foot property also includes ground-floor retail. The tenant roster includes a fitness studio, hair salon, media company and real estate developer. Cronheim secured a 20-year loan amortized over 30 years on behalf of the borrower, 32 E. 31 Street Corp. The lender was CMFG Life Insurance

Marcus & Millichap Negotiates $2.4M Sale of Mixed-Use Building in Brooklyn

NEW YORK CITY — Marcus & Millichap has negotiated the $2.4 million sale of a 4,750-square foot mixed-use property in Brooklyn. Located at 358 Knickerbocker Ave., the property was built in 1931. Shaun Riney and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private

Cushman & Wakefield Orchestrates $1.9M Sale of Multifamily Building in Manhattan

NEW YORK CITY — Cushman & Wakefield has arranged the $1.9 million sale of a four-unit multifamily building in the NoLita neighborhood of Manhattan. Located at 172 Elizabeth St., the 2,700-square-foot property also includes a retail store on the ground floor. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, the estate of Russell Kolody, in the transaction. The buyer was David

JLL Arranges $19M Acquisition Loan for Mixed-Use Property in Manhattan

NEW YORK CITY — JLL has arranged a $19 million acquisition loan for a mixed-use property in the SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in …

Cushman & Wakefield Negotiates $4.7M Sale of Retail Unit in Manhattan

NEW YORK CITY —  Cushman & Wakefield has negotiated the $4.7 million sale of a retail co-op unit in the SoHo neighborhood of Manhattan. Located at 150 Thompson St., the 7,800-square-foot property consists of the ground floor and basement of the five-story, mixed-use co-op. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, Schiffini USA, in the transaction. The buyer was home furnishings company

Knotel Signs 11,176 SF Lease in Midtown, Manhattan

NEW YORK CITY — Workspace provider Knotel has signed an 11,176-square-foot lease in the Midtown East section of Manhattan. Knotel will occupy the entire 6th and 11th floors at 369 Lexington Ave., a 28-story, 175,000-square-foot office tower. Aziz Kabbaj and Robbert Chattah of Sitt Ventures represented Knotel in the transaction. The landlord, Triangle Assets, was represented in-house. Knotel, which was founded in 2016, designs, builds and operates custom spaces for companies of 50 employees …

Contently Signs 13,146 SF Office Lease in Manhattan’s Financial District

NEW YORK CITY — Marketing technology company Contently has signed a 13,146-square-foot lease at 44 Wall St. in Manhattan’s financial district. The company will relocate its headquarters from 598 Broadway to a portion of the 13th floor of the 24-story tower. Contently is the content marketing solution for a number of brands, including American Express, Bayer, Dell Technologies, JPMorgan Chase, Marriott and Walmart. Contently was represented in the transaction by Freddie Fackelmayer, Anthony …

HFF Arranges $39.6M Construction Loan for Office Building in Manhattan

NEW YORK CITY — HFF has arranged a $39.6 million construction loan for a 10-story, 34,364-square-foot boutique office building in Manhattan’s meatpacking district. Located at 76 8th Ave., the property will feature ground-floor retail, nine floors of office space and a common roof deck area for tenants. HFF secured financing on behalf of the borrower, Noviprop LLC and co-developer Plus Development. The lender was G4 Capital Partners. The project is scheduled for completion in summer

Madison Realty Capital Provides $30.5M Refinancing for GEM Hotel in Chelsea

NEW YORK CITY — Madison Realty Capital has provided a $30.5 million loan to refinance the GEM Hotel, a luxury boutique hotel in Manhattan’s Chelsea neighborhood. Located at 300 W. 22nd St., the five-story building was originally constructed in 1912 as a residential property and converted to a hotel in 2007. Aaron Appel of JLL arranged the financing on behalf of the borrower, Icon Realty Management, which plans to reposition the hotel with an expanded marketing strategy and updated

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