STATEN ISLAND, N.Y. — The Kalikow Group and Feldco Development Corp. have received a $20 million loan for the refinancing of Expressway Plaza, a shopping center located at 1441 Richmond Ave. in Staten Island. Bethpage Federal Credit Union provided the seven-year loan. Originally built in 1997 by Kalikow and Feldco, the 94,000-square-foot property is occupied by Stop & Shop, Dunkin’ Donuts, Sleepy’s, New York Community Bank and Subway. Additionally, the asset features a 7,000-square-foot outparcel occupied by Buffalo Wild Wings and a 5,000-square-foot outparcel occupied by Applebee’s.
NEW YORK CITY — Marcus & Millichap has negotiated the sale of a mixed-use property located at 321 W. 11th St. in Manhattan’s West Village. A local private investor acquired the property from a limited liability company for $11.6 million. The 10,400-square-foot property features two retail units, 10 studio apartments and eight one-bedroom apartments. Matt Fotis and Sam Hoefle of Marcus & Millichap represented the seller and procured the buyer in the deal.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of Madison Park Tower, an apartment building located on 34th Street between Madison and Park avenues in Manhattan. Affiliates of CIM Group sold the property to Morgenstern Capital and TLM Equities for $80 million. Constructed in 2009, Madison Park Tower is a 36-story building featuring 110 studio, one- and two-bedroom rental units, a 24-hour attended lobby, fitness center, bike storage and 2,950 square feet of ground-level retail space. Adam Spies, Doug Harmon, Adam Doneger, Kevin Donner and Avery Silverstein of Cushman & Wakefield represented the seller in the transaction. Additionally, Steve Kohn, Gideon Gil, Dave Karson, Alex Hernandez, Chris Moyer and Alex Lapidus of Cushman & Wakefield Equity, Debt and Structured Finance arranged $65 million in acquisition financing for the purchaser. The financing was provided by affiliates of Square Mile Capital Management.
NEW YORK CITY — Metropolitan Avenue Associates has purchased a six-story mixed-used building located at 524 Metropolitan Ave. in Brooklyn’s Williamsburg neighborhood. Pinny and Moishe Loketch of the Loketch Group sold the property for $11.3 million. The 12,160-square-foot building features 20 apartment units and two commercial spaces, which are leased to Yola’s Café. At the time of sale, the building was fully occupied. Brendan Maddigan, Ethan Stanton and Michael Gignate of Cushman & Wakefield represented the seller in the deal.
HUNTINGTON, N.Y. — HFF has arranged the sale of Huntington Square Plaza, a grocery-anchored retail center located at 3124 Jericho Turnpike in the Long Island community of Huntington. Completed in 2002, the 116,200-square-foot center was fully leased at the time of sale. Tenants include Stop & Shop and Best Buy. Jose Cruz, Kevin O’Hearn, Stephen Simonelli and Michael Oliver of HFF represented the undisclosed seller in the deal. The name of the buyer and acquisition price were not released.
NEW YORK CITY — Cignature Realty Associates has arranged the sale of a six-story multifamily building located at 336 Fort Washington Ave. in Manhattan’s Washington Heights. Michael Aryeh of Heritage Realty acquired the property from Fort Washington 336 for $30.8 million, or $402.32 per square foot. Built in 1924, the 76,536-square-foot property features 79 apartment units. Peter Vanderpool of Cignature Realty represented the buyer and seller in the deal.
NEW YORK CITY — Greystone has provided $21 million in Freddie Mac loans to refinance an eight-property multifamily portfolio in Brooklyn. Anthony Cristi of Greystone originated the loans for the borrower, Steve Lubin. The refinanced properties are 1060 Hancock St., 1315 Sutter Ave., 135 Dupont St., 187 Rochester Ave., 1904 Nostrand Ave., 4515 Snyder Ave. and 802 and 809 Park Place. The properties feature between six and 35 units. The properties received five-year, fixed-rate Freddie Mac Small Business Loans, which include an additional 15 years of floating rate and one year of interest-only payments at an 80 percent loan-to-value ratio.
NEW YORK CITY — The Greater Jamaica Development Corp. has selected a joint venture between BRP Cos. and Wharton Properties to purchase and develop a site located at 90-02 168th St. in the Queens’ neighborhood of Jamaica. The open-air parking lot will become an approximately 500,000-square-foot development with more than 300 mixed-income residential units and more than 70,000 square feet of retail space. Construction is slated to begin in the second half of 2018.
ALBANY, N.Y. — The Rosenblum Cos. has opened a ValuSpace Personal Storage facility, located at 40 N. Russell Road in Albany. The $7 million, 88,000-square-foot facility features 630 self-storage units, code-controlled access and security features.
NEW YORK CITY — TerraCRG has arranged the sale of an apartment building located at 440 Senator St. in Brooklyn’s Bay Ridge neighborhood. An undisclosed buyer acquired the four-story building for $4.8 million, or $340 per square foot. The 14,280-square-foot property features 20 apartment units. Peter Matheos and David Algarin of TerraCRG brokered the transaction.