New York

Columbia Property Trust Acquires Office Building in Manhattan for $87.7M

by Amy Works November 30, 2017

NEW YORK CITY — Columbia Property Trust has completed its acquisition of 149 Madison Avenue, a 12-story office building located in Manhattan’s Midtown South district. An undisclosed seller sold the 127,000-square-foot property for $87.7 million. The company is purchasing the property subject to a ground lease that expires in January 2018. At that time, Columbia plans to begin a comprehensive repositioning at the fully vacated building. Redgate will serve as project manager, Genslar as architect and Highland Associates as engineer for the renovation project.

November 30, 2017

Loans Multifamily New York Northeast

Hunt Mortgage Provides $25M in Refinancing for Multifamily Property in Poughkeepsie, New York

by Amy Works November 30, 2017

POUGHKEEPSIE, N.Y. — Hunt Mortgage Group has provided a $25 million conventional Freddie Mac loan to Mountainbrook Realty Holdings LLC. The borrower will use the loan to refinance Mountain Brook Apartments, located at 134-154 Innis Ave. in Poughkeepsie. Built in 1965, the property comprises 17 buildings offering a total of 288 apartment units in a mix of one-, two- and three-bedroom layouts. The seven-year loan features a fixed-rate and a 30-year amortization schedule. At the time of financing, the property was 98.6 percent occupied. Shloime Goldstein of Skyline Capital arranged the financing.

November 30, 2017

Loans Multifamily New York Northeast

Houlihan-Parnes Realtors Secures $17.5M in Refinancing for Multifamily Portfolio in New York

by Amy Works November 30, 2017

BINGHAMTON, ENDICOTT, ENDWELL AND JOHNSON CITY, N.Y. — Houlihan-Parnes Realtors has arranged a $17.5 million loan for the refinancing of a multifamily portfolio in Upstate New York. Totaling 602 apartments, the 13 properties are located in Binghamton, Endicott, Endwell and Johnson City. The non-recourse loan features a fixed interest rate and a 30-year amortization schedule. Ed Graf of Houlihan-Parnes secured the loan for the undisclosed borrower. Steven Tierney of Woods, Oviatt, Gilman represented the borrower.

November 30, 2017

Industrial New York Northeast

Kalmon Dolgin Arranges $5M Sale of Industrial Building in Brooklyn

by Amy Works November 30, 2017

NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of an industrial building located at 315 Liberty Ave. in the Brownsville section of Brooklyn. Beldex Realty sold the property to 315 Liberty Avenue LLC for $5 million. The buyer plans to redevelop the two-story, 28,000-square-foot industrial building into office space. The building features gas heat, heavy power, drive-in doors and a loading dock. Allison Chambers of KDA represented the buyer, while Samuel Zupnick and Nathan Friedman, also of KDA, represented the seller in the transaction.

November 30, 2017

Multifamily New York Northeast

Coastal Ridge Real Estate Launches Third-Party Management Platform, Awarded Three-Property Portfolio

by Amy Works November 29, 2017

BUFFALO, N.Y. — Columbus, Ohio-based Coastal Ridge Real Estate has launched a third-party property management platform and has been awarded management of three student housing communities owned by DHD Ventures. The properties are Monarch 716, a 592-bed community located at 100 Forest Ave. in Buffalo; Monarch 815, a 576-bed community located at 1109 University Parkway in Johnson City, Tenn.; and Monarch 544, 440-bed community located at 650 SC-544 in Conway, S.C. The firm expects to grow its third-party property management portfolio to 2,500 units by the end of 2018.

November 29, 2017

Loans New York Northeast Retail

HFF Secures $33.7M Refinancing for 21-Property Retail Portfolio in New York, Ohio

by Amy Works November 28, 2017

ROCHESTER, N.Y., AND CLEVELAND — HFF has secured $33.7 million for the refinancing of a 21-building retail portfolio located in the greater Rochester and Cleveland metro areas. The borrower is FX Net Lease Holdings LLC. Chris Hew, Dan Martin and Evan Parker of HFF arranged the 18.5-year, fixed-rate loan with Allegiant Real Estate Capital. Totaling 65,588 square feet, the properties are all triple-net leased to Wendy’s.

November 28, 2017

Loans New York Northeast Retail

Integra Real Estate Capital Arranges $16M in Financing for Retail Space in Brooklyn

by Amy Works November 28, 2017

NEW YORK CITY — Integra Real Estate Capital has secured $16 million in financing for a retail condominium located at 1809 Emmons Ave. in Brooklyn. Located at the base of The Vue, the two-story condominium features 26,000 square feet of retail space. The Vue is a newly constructed residential tower developed by Rybak Development. Igor Goldenberg of Integra negotiated the 10-year interest-only loan with a CMBS lender for the undisclosed borrower.

November 28, 2017

New York Northeast Office

NAI Long Island Brokers $1.3M Sale of Office Building in Huntington, New York

by Amy Works November 28, 2017

HUNTINGTON, N.Y. — NAI Long Island has arranged the sale of an office building located at 187 E. Main St. In Huntington. Home Energy Solutions acquired the property from an undisclosed seller for $1.3 million. The building features 4,750 square feet of office space, as well as a large storage area. Gary Pezza of NAI Long Island represented the buyer and seller in the deal.

November 28, 2017

Loans Mixed-Use New York Northeast Office Restaurant Retail

Madison Realty Capital Closes $64M Construction Loan for Mixed-Use Development in Brooklyn

by Amy Works November 27, 2017

NEW YORK CITY — Madison Realty Capital has provided a $64 million construction loan for 200 Kent Avenue, a mixed-use development located in Brooklyn’s Williamsburg neighborhood. The 117,326-square-foot project will feature 50,101 square feet of retail space, 22,055 square feet of office and restaurant space and 45,170 square feet of parking. The retail portion of the development will be anchored by a popular national grocery chain. MRC funded a portion of the $64 million facility at closing to retire existing debt and will provide further advances for construction as the project progresses.

November 27, 2017

Multifamily New York Northeast

Cignature Realty Negotiates $13.2M Sale of Multifamily Building in Manhattan

by Amy Works November 22, 2017

NEW YORK CITY — Cignature Realty Associates has facilitated the sale of a six-story multifamily building located at 221 Wadsworth Ave. in the Washington Heights section of Manhattan. An undisclosed buyer acquired the building for $13.2 million. Built in 1928, the 41,736-square-foot building features 54 apartments. Peter Vanderpool and Lazer Sternhell of Cignature Realty represented the undisclosed seller and buyer in the transaction.

November 22, 2017

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