NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $17.6 million sale of a portfolio of eight multifamily buildings totaling 84 units in Harlem. The portfolio includes four commercial spaces. Aaron Jungreis, Ben Khakshoor and Alex Fuchs of Rosewood Realty represented the buyer and seller, both of which requested anonymity, in the transaction. The deal traded at a cap rate of 6.5 percent.
WATERTOWN, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Regional grocer Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.
NEW YORK CITY — Philadelphia-based development and investment firm Arden Group is underway on construction of a 351,000-square-foot mixed-use project at 4650 Broadway in Manhattan’s Inwood neighborhood. Designed by Handel Architects, the 20-story building will house 222 residential units that will come in studio, one- and two-bedroom formats, with 30 percent of the apartments subject to income restrictions. Residential amenities will include a fitness center, resident lounge, screening room and a children’s play area. In addition, 4650 Broadway will house 120,000 square feet of commercial space. Of that space, 80,000 square feet is earmarked for a charter school or medical office user, and at least 16,000 square feet will be marketed to grocers. Completion is slated for 2025.
NEW YORK CITY — Accounting firm Baker Tilly has signed a 28,000-square-foot office lease at The Spiral, a 66-story office tower in Midtown Manhattan. The newly built, 2.8 million-square-foot building is now 72 percent leased, with financial services firm HSBC serving as the anchor tenant. Geoffrey Euston, David Glassman and Joe Cabrera of CBRE represented Baker Tilly, which plans to move in to its space on the 22nd floor later this year, in the lease negotiations. The landlord, Tishman Speyer, was represented internally.
NEW ROCHELLE, N.Y. — Khosla Capital has acquired Halstead Station, a 408-unit apartment community located north of New York City in New Rochelle. Built in 2001, Halstead Station rises 24 stories and offers studio, one-, two- and three-bedroom residences. Communal amenities include a pool, fitness center with a yoga studio, resident lounge, courtyard with grilling and dining stations, dog park, business center with private conference pods and a children’s play area. JLL represented the seller, The DSF Group, in the transaction. California-based Pacific Urban Investors contributed an undisclosed amount of preferred equity to the deal.
NEW YORK CITY — HBK Capital Management has signed a 16,428-square-foot office lease at 452 Fifth Avenue in Midtown Manhattan. The alternative investment firm will occupy the entire 22nd floor at the 30-story building. Paul Glickman, Ben Bass, Kristen Morgan and Kate Roush of JLL represented the landlord, Property & Building Corp. Ltd., in the lease negotiations. Silvio Petrillo and Tamika Kramer of CBRE represented the tenant.
BALTIMORE — Baltimore-based M&T Realty Capital has arranged $62.5 million in financing for a portfolio of industrial properties totaling approximately 1.9 million square feet that are located in various areas in Rochester, New York, and Southern New Jersey. An undisclosed life insurance company provided the nonrecourse financing, which was structured with a 10-year term and a fixed interest rate. The names and addresses of the properties, as well as the borrower, were also not disclosed.
NEW YORK CITY — Locally based firm LargaVista Cos. has opened Gaseteria Works, a 23,784-square-foot coworking space in the Long Island City area of Queens. Gaseteria Works offers coworking memberships, fully furnished private suites, meeting rooms and virtual addresses, as well as an onsite team offering concierge and administrative services. JLL manages and leases the space via Flex by JLL, the real estate giant’s flexible office and coworking platform.
NEW YORK CITY — Novartis Inc. has signed a 15,865-square-foot office lease at 452 Fifth Avenue in Midtown Manhattan. The pharmaceutical corporation will occupy the entire 12th floor at the 30-story building. Paul Glickman, Ben Bass, Kristen Morgan and Kate Roush of JLL represented the landlord, Property & Building Corp. Ltd., in the lease negotiations. David Stockel and Christopher Menard of CBRE represented Novartis.
MONTGOMERY, N.Y. — New Jersey-based developer Diversified Properties has broken ground on a seven-building, 495-unit self-storage facility in Montgomery, about 80 miles north of New York City. The facility will consist of one two-story building totaling 39,000 net rentable square feet, and six single-story buildings, each of which will total 6,900 net rentable square feet. Morris Construction Management is overseeing construction of the project, which is scheduled for an October completion. CubeSmart is the proposed operator of the facility.