NEW YORK CITY —Cushman & Wakefield has negotiated the $1.3 million sale of a two-story, mixed-use building in the Claremont neighborhood of the South Bronx. Located at 500-502 E. 167th St., the 4,751-square-foot property includes four commercial units as well as a full basement. Jonathan Squires, Michael Fioravanti, Josh Neustadter and Addison Berniker of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
NEW YORK CITY — Progress Capital has arranged a $23 million loan to refinance a retail property in Harlem. CVS and Zwanger Pesiri Radiology anchor the property, which is located at 324 W. 125th St. Abe Mann of Progress Capital secured financing on behalf of the borrower, Wharton Properties. The lender was Wells Fargo. Terms of the non-recourse loan include full-term interest-only payments and no prepayment penalty. The proceeds of the loan will be used to retire existing debt and provide cash-out of vested equity that will be used to fuel a continued expansion of the borrower’s portfolio.
NEW YORK CITY — Marcus & Millichap has negotiated the $11.5 million sale of a two-building apartment complex in East Harlem. Located at 334-348 E. 105th St., the 53,121-square-foot property contains 53 rent-stabilized residential units. John Stewart and Stephen Bell of Marcus & Millichap’s Manhattan office represented the seller, Reifer Management, in the transaction. Seth Glasser of Marcus & Millichap represented the buyer, a private investor.
NEW YORK CITY — Cushman & Wakefield has brokered the $1.9 million sale of a two-story warehouse in the South Bronx. Located at 585 Jackson Ave., the 10,020-square-foot property includes two garage doors, gas heat and 50 feet of street frontage. Jonathan Squires and Michael Fioravanti of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
NEW YORK CITY — The Carlton Group has arranged a $47.5 million construction loan for Sea Breeze Tower, a 20-story multifamily tower in the Coney Island neighborhood of Brooklyn. Located at 271 Sea Breeze Ave., the property will feature a limestone and glass façade and will offer a mix of studio, one-, two- and three-bedroom apartments. Ruth Barone of the Carlton Group secured financing on behalf of the borrower, Rybak Development, through a private lender. The terms of the financing were not disclosed.
NEW YORK CITY — Cushman & Wakefield has brokered the $3.8 million sale of a 24,155-square-foot office building in the Bronx. Located at 1314 Blondell Ave., the split-level property features a 24-car private garage and 16-foot ceilings on the ground floor. Jonathan Squires, Ian Brooks, and Robert Shapiro of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
NEW YORK CITY — Ariel Property Advisors has brokered the $4.5 million sale of a four-story mixed-use building in Brooklyn Heights. Located at 77 Atlantic Ave., the 7,895-square-foot property comprises two commercial units and six apartments. Victor Sozio, Sean Kelly and Matthew Lev of Ariel Property Advisors represented the seller, Silvershore Properties, in the transaction. The buyer was 77 ATL AVE LLC. The property is located near Brooklyn Bridge Park as well as retailers Urban Outfitters and Trader Joe’s.
NEW YORK CITY — Ariel Property Advisors has arranged a $41 million loan to refinance a 23-property medical office portfolio across 15 states. Matt Dzbanek and Matt Swerdlow of Ariel Property Advisors’ capital services division in New York City secured the financing on behalf of the undisclosed borrower. The non-recourse, fixed-rate loan included a 10-year term with four years of interest-only payments. A national lender provided the financing.
NEW YORK CITY — Cushman & Wakefield has arranged the $3 million sale of a 5,736-square-foot retail strip in the Far Rockaway neighborhood of Queens. Located at 1326-1342 Beach Channel Drive, the seven-unit property includes approximately 115 feet of frontage on Beach Channel Drive. The tenant roster includes a Little Caesars pizzeria, a restaurant, deli and grocery store, hair salons and a barbershop. Stephen Preuss of Cushman & Wakefield represented the seller, Beach Channel 12 LLC / 1326 Beach Channel Realty Corp., in the transaction. The buyer was Deer Grow Developments.
SAYVILLE, N.Y. — NAI Long Island has brokered the $1.6 million sale of a 7,300-square-foot medical office building in Sayville. Located at 160 Middle Road, the property is occupied by the Long Island Family Medical Group. Gary Pezza of NAI Long Island represented the seller, John Zimmerly, in the transaction. The buyer was 1449 Holdings LLC.