NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has negotiated the $4.3 million sale of a 26,787-square-foot commercial building at 1414-1424 Cromwell Ave. in the Mount Eden neighborhood of The Bronx. The property is currently leased to a parking operator but is also zoned for warehouse use. Jason Gold, Michael Tortorici and Daniel Mahfar of Ariel Property Advisors brokered the deal. The buyer and seller were not disclosed.
VALHALLA, N.Y. — HJ Sims has placed $30 million in financing for The Bethel Methodist Home and its continuing care retirement community, The Knolls, in Valhalla, approximately 25 miles north of Midtown Manhattan. The community, which opened in 2002 under the name Westchester Meadows, offers independent living, assisted living and skilled nursing services on one campus.
WHITEHOUSE STATION, N.J. — Locally based brokerage firm Kislak Commercial Real Estate Services Inc. has arranged the $3.9 million sale of a 44,300-square-foot industrial property in the Northern New Jersey community of Whitehouse Station. Peter Wisniewski of Kislak represented the seller, Palumbo Realty LLC, in the transaction. Wisniewski also procured the buyer, 27 Ridge Road LLC.
NEW YORK CITY — GHH Associates LLC has sold a 4,658-square-foot office condo in Midtown Manhattan to international jeweler Shefi Diamonds for $4.2 million. The space is located within 10 W. 46th Street, a 20-story office condo property that was built in 1985. Michael Rudder and Justin Harris of Rudder Property Group represented GHH Associates in the transaction. Harlan Cygielman of Manhattan Realty Advisors represented Shefi Diamonds.
YONKERS, N .Y. — Marx Realty, a division of Merchants National Properties, has broken ground on a 130,000-square-foot project for Target in the New York City suburb of Yonkers. The store will be located at the site of a former Sears that closed in 2019 within Cross County Center, a 1.1 million-square-foot open-air shopping and dining destination. In addition to Target, H&M recently signed a long-term renewal for its 28,000-square-foot space that is currently undergoing a $5 million remodeling. Target, which has committed to a 40-year lease, expects to open its new store in 2022.
LOCKPORT, N.Y. — Alliant Credit Union has provided a $5.5 million loan for the refinancing of a 457-pad mobile home park in Lockport, located in the Buffalo area. The property offers amenities such as a clubhouse, pool, playground and basketball court. Ned Perlman of Largo Capital arranged the loan, which was structured with a 10-year term and a 30-year amortization schedule.
MELVILLE, N.Y. — Investment banking firm Aegis Capital Corp. has signed a 9,134-square-foot office lease at 1305 Walt Whitman Road in Melville, located on Long Island. The three-story property was built in 1955. Joseph Lopresti of JLL represented Aegis Capital in the lease negotiations. Tim Parlante internally represented the landlord, The Feil Organization, which acquired the asset in 2015 and implemented a value-add program.
NEW YORK CITY — New York City-based development and investment firm Innovo Property Group (IPG) has received a $155 million construction loan for a 900,000-square-foot industrial project in the Long Island City area of Queens. The site previously housed the warehouse of online grocer FreshDirect. Innovo will redevelop the property to function as a last-mile distribution facility with elevated truck courts and a vertical parking structure. An affiliate of Starwood Property Trust provided the loan. IPG acquired the asset in January 2019 with Atalaya Capital Management and Nan Fung Group for $75 million. Since then, the partnership has demolished the existing warehouse.
NEW YORK CITY — Locally based developer The Georgetown Co. has signed leases with two tenants to its 200,000-square-foot life sciences project at 787 11th Ave. on Manhattan’s Far West Side. The property is now fully preleased. Healthcare provider Mount Sinai signed a long-term lease for 165,000 square feet, and scientist and designer Neri Oxman inked a deal to operate a 36,000-square-foot space. The property houses space for lab, office, research and biomedical uses.
WEST HARRISON, N.Y. — Toll Brothers Inc. (NYSE: TOL), in a joint venture with J.P. Morgan Global Alternatives, has completed Carraway, a 421-unit apartment community in West Harrison, about 30 miles north of New York City. The property offers studio, one- and two-bedroom units that are furnished with quartz countertops, marble-style backsplashes and wood-style flooring. Communal amenities include a pool, fitness center, private workspaces, resident clubroom and a private dining room. Rents start at $1,275 per month for a studio unit, according to Apartments.com.