MANLIUS, N.Y. — The Boulder Group has brokered the sale of a single-tenant net-leased Rite Aid property located at 8230 Cazenovia Road in Manlius. An East Coast-based investor acquired the property from a partnership of high-net-worth individuals for $3.8 million in a 1031 exchange. There are more than 10 years remaining on the lease of the 12,795-square-foot property.
NEW YORK CITY — Berkadia has secured $31.5 million in financing for The Retail Condominium at The Renaissance, a retail and garage property located at 130 Lenox Ave. in Harlem. Stewart Campbell of Berkadia arranged the loan for the undisclosed borrower through Jeffries LoanCore LLC. The 10-year refinancing loan features a 4.13 percent fixed interest rate and is interest-only throughout the term.
NEW YORK CITY — An affiliate of Rockpoint Group LLC has acquired two residential properties located at 63 and 67 Wall St. in Manhattan. An affiliate of DTH Capital sold the properties for an undisclosed sum. 63 Wall Street, known as the Crest and formerly The Wall and Hanover Building, was built in 1928 as the headquarters of Brown Brothers Harriman & Co. The 400,000-square-foot building was converted into 476 residential apartments in 2003 and 2004. 67 Wall Street was originally built in 1921 as headquarters for the Munson Shipping Co. In 2006, the building was converted into 331 residential units and a retail component. The properties have approximately 10,000 square feet of connected amenity space and 20,000 square feet of retail space. Carl Schwartz, Matthew Scoville and Katie Baranek of Hunton & Williams LLP advised DTH Capital on the sale.
WHITE PLAINS, N.Y. — Choyce Peterson Inc. has arranged the lease of 29,000 square feet of office space at 701 Westchester Ave. in White Plains. Pentegra Retirement Services is relocating its headquarters from 108 Corporate Park Drive to the new location. John Hannigan and Alan Peterson of Choyce Peterson represented the tenant, while Brian Carcaterra of CBRE represented the landlord, Normandy Real Estate Partners, in the transaction.
LONG ISLAND, N.Y. — G&S Investors has completed the sale of ShopRite at Bay Shore, a single-tenant retail property located in Bay Shore on Long Island. A joint venture partnership between Mattone Group and Gartenstein Properties acquired the 60,000-square-foot property for $30 million. Situated on 10 acres at 1905 Sunrise Highway, the property is triple-let leased to ShopRite. Jeffrey Julien and Jose Cruz of HFF represented the seller in the transaction. The asset was purchased free and clear of existing debt.
OAKDALE, N.Y. — Amity University, a non-profit international educational organization, has acquired St. John’s University’s 170-acre campus, located at 500 Montauk Highway in Oakdale for $22.4 million. The campus includes 11 buildings totaling 260,000 square feet. The acquisition enables the seller, St. John’s, to continue offering its existing academic programs under a lease agreement through June 2017 as Amity University assumes control of the property immediately. Helen Hwang and Karen Wiedenmann, formerly of Cushman & Wakefield, along with Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Dowd and David Pennetta of Cushman’s Metropolitan Area Capital Markets group, represented St. John’s in the transaction.
NEW YORK CITY — Tribeca Associates plans to reposition 30 Broad Street, a 47-story office tower located in Manhattan’s Financial District, which the company purchased in April. The 477,000-square-foot building will undergo an infrastructure modernization and renovation to suit the needs of today’s tenants. Additionally, office spaces will be updated with new fixtures and fittings as part of the prebuilt program as they become vacant. The lobby will be revitalized with a custom light installation, contemporary artwork by Annica Cuppetelli and Cristobal Mendoza, and an expanded coffee bar. Building amenities will also be added in the central amenities suite. The repositioned building will offer full-floor branding opportunities for tenants that start at 5,881 square feet. Andrew Peretz, Hal Stein, David Malawer, Courtney Adham and Daniel Appel of Newmark Grubb Knight Frank are the leasing agents for the property.
NEW YORK CITY — NorthMarq Capital has secured $3 million in refinancing for an office property located at 1139 Hylan Blvd. in Staten Island. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the loan, which features a 10-year term and a 25-year amortization schedule, through a community bank. The property features 28,000 square feet of office space.
NEW YORK CITY — SL Green Realty Corp. has closed on $1.5 billion in construction financing for One Vanderbilt, a 58-story office tower located adjacent to Grand Central Terminal in Midtown Manhattan. The financing has a term of up to seven years and bears interest at a floating interest rate of 3.5 percent over LIBOR, with the ability to reduce the spread to as low as 3 percent upon achieving certain pre-leasing and completion milestones. Institutions involved in the financing are Wells Fargo Bank as administrative agent; The Bank of New York Melton, JP Morgan Chase Bank, TD Bank N.A. and Bank of China as syndication agents; and Landesbank Baden-Württemberg as documentation agent. Vertical construction is slated to begin in the second quarter of 2017, with completion scheduled for 2020. Tishman Construction is managing the project, which will also include direct connection to Grand Central’s network of mass transit, improved by $220 million in upgrades that SL Green is implementing as part of the project. Designed by Kohn Pederson Fox, the 1.6 million rentable-square-foot tower will be the tallest building in Midtown and the second tallest in New York City. In 2014, TD Bank signed a 20-year, 200,000-square-foot lease at the …
NEW YORK CITY — Madison Realty Capital has provided a $52 million first mortgage loan for the acquisition of a development site in the East Village and the construction of an approved mixed-use development on the site. Located at 644 E. 14th St., the 76,259-square-foot development will feature 50 residential units, 8,064 square feet of retail space with 200 feet of frontage on 14th Street and Avenue C, and 21,575 square feet of community facility space. The loan proceeds helped the undisclosed borrower close on the site acquisition and will fund further predevelopment activities and construction of the building. The residential units will feature contemporary finishes and large balconies with views of the East River. Additionally, the borrower is finalizing a lease with a major New York hospital to occupy the entire community facility portion of the new building.
