NEW YORK CITY — Eunate Real Estate NY LLC has acquired a 4,620-square-foot retail condominium in Nomad. The sales price was $26.5 million. Located at 212 Fifth Ave., the property includes more than 200 feet of wraparound frontage. At the time of sale, the property was fully occupied. Christine Trainaand Elissa Slanof Douglas Elliman Real Estate represented Eunate Real Estate in the transaction. The sellers, Building and Land Technology and Madison Equities, were represented by Cushman & Wakefield.
SYRACUSE, N.Y. — Jacobson Properties and Cushman & Wakefield/Pyramid Brokerage Co. have negotiated the $18.9 million sale of Hill Medical Center, an 81,859 square foot medical office building located on the downtown campus of SUNY Upstate University Hospital in Syracuse. Lisa Menin of Jacobson Properties and Leo Jones of Cushman & Wakefield/Pyramid Brokerage Co. represented the seller, Business Venture Associates Limited Partnership, in the transaction. The buyer was a national private equity healthcare investor. Hill Medical Center is 98 percent leased and is anchored by SUNY Upstate University Gastroenterology, Upstate Cancer Center Hematology/Oncology at the Hill, Upstate Cancer Center at Hill Radiation Oncology and St. Joseph’s Hospital Cardiology.
FARMINGVILLE, N.Y., SMITHFIELD, R.I., AND HERNDON, VA. — Washington D.C.-based real estate investment firm Excel Group has acquired three hotel properties in New York, Rhode Island and Virginia. The price and seller were not disclosed. The properties are the 161-room Hampton Inn Long Island Brookhaven in Farmingville; the 101-room Hampton Inn & Suites Providence-Smithfield in Smithfield; and the 151-room Hyatt Place Dulles Herndon-East in Herndon.
SCARSDALE, N.Y. —Houlihan-Parnes Realtors has arranged a $1.7 million loan to refinance an 8,500-square-foot retail property in Westchester. Located at 58-72 Garth Road, the asset is nearby the Scarsdale Metro-North train station. Richard Hendey and Mike O’Neill ofHoulihan-Parnes secured a seven-year, non-recourse loan on behalf of the undisclosed borrower. Terms of the financing included a 4.87 percent fixed rate on a 30-year amortization schedule. The lender was a local bank.
NEW YORK CITY — Hodges Ward Elliott has brokered the $43.8 million sale of a 20-story multifamily tower in the South Williamsburg neighborhood of Brooklyn. Located at 424 Bedford Ave., the 63,866-square-foot property includes 66 units. Amenities include a fitness center, gardens, BBQ area, dog run and a rooftop deck. Will Silverman, Paul Gillen, Daniel Parker and Ariel Tambor of Hodges Ward Elliott represented the seller, East End Capital and KBS, in the transaction. The buyer was Global Holdings Group.
NEW YORK CITY — Cushman & Wakefield has secured a $15 million acquisition loan for a mixed-use development site in the Jamaica neighborhood of Queens. Located at 90-02 168th St., the parcel allows for 738,000 buildable square feet. Preston Flammang and Anthony D’Amelio of Cushman & Wakefield represented the borrower, BRP Cos., in the transaction. Turnbridge Real Estate Credit Strategies provided the interest-only financing.
NEW YORK CITY — Marcus & Millichap has brokered the $4.7 million sale of a four-unit apartment property in Brooklyn. Located at 91 1st Place, the five-story property measures 7,200 square feet. Shaun Riney, Michael Salvatico and John Barney 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 — KeyBank Community Development Lending and Investment (CDLI) has provided $24.5 million in financing for the acquisition and renovation of Highbridge Franklin and Twin Parks West, two New York City Housing Authority (NYCHA) properties in the Bronx. Together, the two properties total 647 units of permanent affordable housing. Both properties are part of NYCHA’s plan to finance, renovate and manage 1,700 apartment units across 17 developments under its Permanent Affordability Commitment Together (PACT) program. PACT is New York City’s implementation of the federal Rental Assistance Demonstration (RAD) program. KeyBank provided the financing to borrower Gilbane Development Co. Terms of the financing were not disclosed.
NEW YORK CITY — Marcus & Millichap has negotiated the $2.2 million sale of a four-unit apartment building in the Stuyvesant Heights neighborhood of Brooklyn. The property is located at 231 Bainbridge St. 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 — The Chrysler Building, one of New York City’s most iconic skyscrapers has been put up for sale by its owners, Emirati investment firm Mubadala and real estate group Tishman Speyer, according to media reports. The 77-story building opened in 1930 and stands 1,046 feet tall. It was the world’s tallest building until it was dethroned by the Empire State Building in 1931. Mubadala paid $800 million for a 90 percent stake in the building in 2008. Tishman Speyer, which had bought the building outright for a reported $210 million to $250 million in 1997, retained a 10 percent stake. The Abu Dhabi investment fund has reportedly hired CBRE group to sell the property.