NEW YORK CITY — JLL has secured a $48.7 million loan to refinance a multifamily building on the Upper West Side of Manhattan. Located at 150 W. 82 St., the 10-story property is currently a boutique condominium. Building ownership plans a condominium conversion on the property. When completed, the property will include a resident lounge, gym, roof deck and bike storage. JLL represented the borrowers, GreenOak Real Estate LP and Slate Property Group to place the loan with lender Apollo Global Management LLC. Terms of the financing were undisclosed.
NEW YORK CITY — Avison Young has brokered the $7 million sale of a vacant development site in the East Village of Manhattan. Located at 14 Second Ave., the property offers 15,042 buildable square feet. James Nelson, Brandon Polakoff and Toku Saito of Avison Young represented the undisclosed seller in the transaction. The buyer was developer Station Cos. The developer plans to build a 10-story residential building with full-floor condominium units on the property.
NEW YORK CITY — Cushman & Wakefield has arranged the $16.2 million sale of Bathhouse Studios, a 14,000-square-foot mixed-use building in the East Village of Manhattan. Located at 538 E. 11th St., the property includes studio and event space as well as a residential unit above. Built in 1905, the property is a former public bathhouse and was converted into a studio in 1995 by Pulitzer Prize-winning photographer Eddie Adams. The ground floor of the building features 20-foot ceilings with oak floors, exposed brick and antique frosted windows. The residence above possesses 16-foot ceilings with oak floors throughout and a 2,200 square-foot outdoor deck. Michael DeCheser, Andrew Berry, Mei Ling Wong and Bryan Hurley of Cushman & Wakefield represented the seller, Alyssa Adams, in the transaction. The buyer was 538 East Eleventh LLC.
NEW YORK CITY — Encore Real Estate Investment Services has brokered the $9.4 million sale of a retail property occupied by Rite Aid in the Bronx. Brandon Hanna and Charles Slane of Encore represented the seller, a private developer and landowner in New York City, in the transaction. The buyer was undisclosed.
NEW YORK CITY — CIT Group has provided a $35 million loan for the construction of an office building in Manhattan. The six-story, 74,000-square-foot project is located at 323 E. 61st St. CIT provided the senior secured loan. The developer is a joint venture between The William Macklowe Company and LaSalle Property Fund. The designer is Daniel Goldner Architects. The completion date for the project has yet to be announced.
PLAINVIEW, N.Y. — Lee & Associates NYC has negotiated the $2.8 million sale of an 18,000-square-foot self-storage facility in Plainview. Located at 1522 Old Country Road, the two-story property includes 1,500 square feet of office space on the second floor. Kelly Koukou of Lee & Associates represented the undisclosed seller in the transaction. The buyer was Safeguard Self Storage.
NEW YORK CITY — Square Mile Capital has provided a $138.5 million preferred equity investment in the recapitalization of ALTA, a 43-story apartment tower in Long Island City. The property is located at 29-26 Northern Blvd. Simon Baron Development LLC broke ground on the 467-unit property in 2015 and completed the project earlier this year. Building amenities include a 10,000-square-foot fitness center, 50-foot indoor swimming pool, multiple roof decks, a state-of-the-art golf simulator and a dog spa. ALTA was developed by affiliates of Simon Baron Development LLC. Leasing of the property commenced in May.
SYRACUSE, N.Y. — Marcus & Millichap has brokered the sale of the Comfort Inn & Suites – Syracuse Airport, a 166-room hotel in Syracuse. The sales price was undisclosed. Jerry Swon and Daniel Zagoria of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was KPG Hotels. The property is located approximately four miles from Syracuse Hancock International Airport. Amenities at the hotel include complimentary buffet breakfast, onsite restaurant and bar, indoor heated pool, fitness center and business center.
NEW YORK CITY — Rosewood Realty Group has negotiated the $3.7 million sale of a four-story apartment building in the Flatbush neighborhood of Brooklyn. Located at 2522 Newkirk Ave., the 15,800-square-foot building was built in 1915 and consists of 16 residential units. Michael Guttman and Aaron Jungreis of Rosewood represented the seller, Aulder Capital, in the transaction. Roswood also represented the buyer, Sutton Equity Capital.
NEW YORK CITY — JLL Capital Markets has secured a $26 million loan for the refinancing of a three-property multifamily portfolio in the Bushwick neighborhood of Brooklyn. The properties are located at 184 Noll St., 286 Stanhope St. and 324 Melrose St. Aaron Appel, Keith Kurland, Jonathan Schwartz, Michael Diaz, Adam Schwartz and Matt Fagella of JLL secured the interest-only loan for borrower Cayuga Capital Management through lender Citigroup Global Markets. The 62,000-square-foot portfolio consists of 63 residential units and six commercial units with a combined 5,650 square feet of office space.