NEW YORK CITY — Lee & Associates has brokered the $32.2 million sale of a 50,000-square-foot parking garage in Manhattan’s Flatiron district. Located at 41-47 E. 21st St., the four-story garage is six blocks from the 4, 5, 6, L, N, Q, R and W trains. Steve Lorenzo, Mitchell Salmon and Christopher Ventura of Lee & Associates represented the buyer, Mequity Cos., in the transaction. Sidney Rosenthal of Lee & Associates represented the seller, Zucker Organization.
ARDSLEY, N.Y. — Houlihan-Parnes Realtors has secured a $1.7 million loan to refinance Ardsley Shopping Center in Ardsley. Located at 717-725 Saw Mill River Road, the center, which is anchored by a CVS Pharmacy, is approximately 19 miles north of Manhattan. James J. Houlihan, Christie L. Houlihan and Bryan J. Houlihan of Houlihan-Parnes secured the financing on behalf of the undisclosed borrower. The lender was a local bank. Terms of the financing included a five-year term with a 4.6 percent interest rate.
NEW YORK CITY — Marcus & Millichap has arranged the $2.5 million sale of a 9,155-square-foot development site in Brooklyn. The property is located at 151 Quincy St. in the Bedford-Stuyvesant section of Brooklyn. Shaun Riney and Daniel Greenblatt of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
NEW YORK CITY — Mission Capital Advisors has arranged an $80 million bridge loan for the recently completed Sister City hotel, a 200-room hotel on the Lower East Side of Manhattan. Located at 225 Bowery, the 14-story property features a 234-seat café, ground-floor garden and a 150-seat rooftop bar with views of Manhattan. Jonathan More, Steve Buchwald, Ari Hirt and Jamie Matheny of Mission Capital arranged the financing on behalf of a partnership between Omnia and Northwind Group. The lender was Bank Hapoalim. After purchasing the property, Omnia and Northwind commenced a major construction campaign, adding three floors and transforming the century-old building into a food-and-beverage-centric hotel. The property is the first Sister City-branded hotel and will be managed by hotel operator Ace Hotels.
NEW YORK CITY — JLL has arranged a $66.7 million construction loan for a nine-story boutique office building in Manhattan. Located at 141 E. Houston St., the 63,000-square-foot property will include seven individual office floors ranging from 5,000 to 7,000 square feet, a 3,300-square-foot retail store at grade level, and two additional below-grade retail levels. Aaron Appel, Jonathan Schwartz, Michael Diaz, and Patrick Cotter of JLL secured the financing on behalf of the borrowers, East End Capital and K Property Group. The lender was CapitalSource, a division of Pacific Western Bank and Canyon Partners Real Estate LLC. Terms of the financing were not disclosed.
NEW YORK CITY — CBRE has negotiated the $1.3 million sale of a mixed-use building in the Flatbush section of Brooklyn. Located at 2837 Church Ave., the 4,500-square-foot property is comprised of four apartments and a 1,500-square-foot, ground-floor retail space. The property was fully occupied at the time of sale. Elli Klapper, Charles Berger and Jay Gelbtuch of CBRE represented the undisclosed seller in the transaction. The buyer was also undisclosed.
NEW YORK CITY — New York Life Real Estate Investors, on behalf of New York Life Insurance Company, has provided a $55 million loan to refinance West End Towers, a 1,000-unit apartment community on the Upper Westside of Manhattan. Located at 75 West End Ave., the property is nearby Lincoln Square and includes panoramic river and city views. Mark Young of New York Life Real Estate Investors’ New York regional office secured the financing on behalf of the owner, an affiliate of The Brodsky Organization. Terms of the financing were not disclosed.
OGDENSBURG, N.Y. — Rafinia Property Group has arranged the $2.2 million sale of Seaway Shopping Center, a 102,796-square-foot retail strip in Ogdensburg. The single-story strip center is configured to fit 15 retail spaces and is occupied by Save-A-Lot food stores, Peebles, Family Dollar and a mix of local and regional tenants. The property was constructed in 1960 and significantly upgraded in 2018. Evan Rafinia of Rafinia Property Group represented the undisclosed seller in the transaction. The buyer was a private investor based in New York City.
NEW YORK CITY — Cushman & Wakefield has brokered the $6.1 million sale of a 16-unit multifamily property in the Bayside neighborhood of Queens. Located at 191-02 35th Ave., the property consists of one- and two-bedroom duplex units as well as three-bedroom triplex units. The two-story property in located nearby the Auburndale Long Island Rail Road station. Daniel Abbondandolo and Dimitri Mastrogiannis of Cushman & Wakefield represented the seller, The DiNoto Group, in the transaction. The property was purchased by Fairfield Properties.
NEW YORK CITY — Madison Realty Capital (MRC) has provided a $138 million construction loan for a mixed-use development project in the West Harlem neighborhood of Manhattan. Located at 300 W. 122nd St., the 13-story, 211,893-square-foot property will include 155 condominium units and ground-floor retail space slated for a grocery store. MRC provided the financing to borrower Happy Living Development. Richard Horowitz, Ryan Horowitz and Adam Horowitz of Cooper-Horowitz LLC brokered the transaction on behalf of the borrower. The building’s foundation has already been completed.
