NEW YORK CITY — Cushman & Wakefield has brokered the sale of a five-story residential building located at 240 E. 52nd St. in Manhattan. Coutinho Properties sold the asset for $10.5 million, or $1,122 per square foot. The 9,361-square-foot building features 15 one-bedroom units and a fully furnished basement. Hall Oster and Clint Olsen of Cushman & Wakefield represented the seller, while Stacy Gim of PD Properties represented the undisclosed buyer.
RIVERHEAD, N.Y. — Tremont Realty Capital has arranged a $6.6 million loan for the refinance of Oakland Ridge MHC, a 100-space manufactured housing community located on the north side of Long Island in Riverhead. The non-recourse loan was structured with a 10-year term and a 30-year amortization schedule with two years of interest-only payments. John Chase of Tremont Realty Capital arranged the loan for the undisclosed borrower.
NEW YORK CITY — KZA Realty Group has arranged the acquisition of a 32,000-square-foot lot located at 857-859 Concourse Village West in the Bronx. 857-59 Hotel LLC purchased the property from Howard Jaffe of 857 Concourse Village and Nydia Valentin of 859 Concourse Village for $1.9 million. The buyer plans to develop a hotel on the site. Kathy Zamechansky and Dan McVeigh of KZA Realty represented the buyer and sellers in the transaction.
NEW YORK CITY — KZA Realty Group has arranged the acquisition of a lot located at 972 Washington Ave. in the Bronx. Post Graduate Center for Mental Health acquired the property from Tammuz LLC for $3.4 million. The site features 79,000 square feet of buildable space and air rights from 962 Washington Ave. Kathy Zamechanksy of KZA Realty Group represented the buyer, while Ross Schneiderman of Friedland Realty Advisors represented the seller.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an office and retail building located at 243 Canal St. in Manhattan’s Chinatown neighborhood. The six-story building sold for $25 million, or $1,152 per square foot. The 21,700-square-foot property features two elevators, a full basement with 11-foot ceilings, a ground-floor retail unit and five floors of loft-style office space. Barbara Dansker, Steven Lusby and Zachary Ziskin of Marcus & Millichap represented the seller and procured the buyer. The names of the seller and buyer were not released.
SMITHTOWN, N.Y. — MIDI, an international medical research, design and engineering firm, has opened its new 6,500-square-foot headquarters and innovation center in the Village of The Branch, a part of Smithtown on Long Island. Stalco Construction served as general contractor for the new $5 million medical and life sciences facility, which is located at 226 E. Main St. Whitetop Mountain Professional Properties developed the17,300-square-foot building, which also houses a 10,800-square-foot diagnostic imaging center operated by Northwell Health, formerly North Shore-LIJ Health System. Featuring an open-space layout, the facility features a collaborative workspace, an engineering and design lab, a manufacturing shop, and a conference room with teleconferencing system, as well as executive and administrative offices.
SLEEPY HOLLOW, N.Y. — A joint venture between SunCal and Diversified Realty Advisors has broken ground on Edge-On-Hudson, a $1 billion development on the Hudson River in Sleepy Hollow, located approximately 20 miles upriver from New York City. The 70-acre project will contain 1,177 units of housing, 135,000 square feet of retail space, 30,000 square feet of office space and a 140-room boutique hotel, the first in Sleepy Hollow. The project will also feature 16 acres of open space and a waterfront promenade that links the existing Westchester County RiverWalk to the south and Kingsland Point Park to the north. Edge-On-Hudson is being built on the site of the former General Motors assembly plant. The space has been empty since the automotive manufacturer vacated in 1996. Phase I will include 306 units of housing, including 40 senior affordable units and 21 affordable workforce units. There will be 188 loft-style apartments in the four-story Loft District section at the eastern edge of the property, plus 46 three- and four-story condominium homes and 72 townhomes in the Central Park District. These neighborhoods will also include green space, a central park, a new roundabout and a village green at the base of Beekman …
NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of three contiguous multifamily buildings located at 50-58 E. Third St. in Manhattan’s East Village neighborhood. The assets sold for $58 million, or $817,000 per unit. The properties feature 51 free-market apartments, 18 rent-stabilized units and two rent-controlled apartments. Some of the apartments were recently renovated to include stainless-steel appliances, wine coolers, Caesarstone countertops, washer/dryers, video-intercom systems, recessed lighting, wide-plank oak flooring, marble-clad bathroom and high-gloss white cabinets. Peter Von Der Ahe, Joe Koicim, David Lloyd and Corey Isdaner of IPA represented the undisclosed seller and procured the undisclosed buyer.
NEW YORK CITY — Kinsey Capital has arranged the acquisition of an office property located at 4-6 E. 34th St. in Manhattan’s NoMad neighborhood. An affiliate of Caerus Group acquired the 29,162-square-foot property from the Zionist Organization of America for $38.2 million, or $1,312 per square foot. The property also features air rights to allow for a total of 52,300 square feet. Brent Glodowski of Kinsey Capital represented the buyer, while CBRE represented the seller.
SYRACUSE, N.Y. — TJM Properties has acquired Crowne Plaza Syracuse, located at 701 E. Genesee St. in Syracuse, for an undisclosed price. The hotel offers 276 guest rooms and 12,243 square feet of conference space. The property will retain the Crowne Plaza flag and continue to offer all the amenities and incentive programs of the Crowne Plaza brand. The name of the seller was not released. This purchase is the latest expansion of the TJM Properties and its fourth hotel in the Northeast. TJM plans to add approximately three hotels per year to its growing portfolio.