NEW YORK CITY — GFI Realty Services has arranged the sale of six contiguous walk-up apartment buildings located at 150-01 through 150-11 88th Ave. in the Jamaica section of Queens. Zara Realty acquired the properties for $21.5 million. Totaling 79,200 square feet, the four-story buildings feature 96 rent-stabilized apartments and eight storage units. Josh Orlander of GFI Realty represented the undisclosed seller, while Yosef Katz, also of GFI Realty, represented the buyer.
NEW YORK CITY — Fox Hill Partners LLC has completed the disposition of apartment buildings located at 141 Park Hill Ave. and 320 and 350 Vanderbilt Ave. in Staten Island. Fox Hill Housing LLC acquired the properties for $52 million. Janice Mac Avoy, Stephanie Spell, Michael Hofer and Benjamin Cohen of Fried Frank served as counsel to the seller in the deal.
NEW YORK CITY — An investment group led by David Berley, chairman of Walter & Samuels Inc., has acquired a boutique office building located at 242 W. 27th St. in Chelsea. Panzel Development Associates sold the property for $14 million. Situated on the campus of the Fashion Institute of Technology, the 18,000-square-foot building features seven floors of office space, including a penthouse with a 500-square-foot deck and ground-floor loft duplex space. Ben Tapper, Noah Buchwald and Ross Weiner of Eastern Consolidated represented the seller, while Adelaide Polsinelli of Eastern Consolidated represented the buyer in the deal.
NEW YORK CITY — The Parkland Group has received $32.1 million in refinancing for a fully-leased retail property located at 200 West End Ave. in Manhattan’s Upper West Side. HFF placed the 15-year fixed-rate loan through MetLife for the borrower. The 25,446-square-foot retail property is leased to CVS/pharmacy, Bin 70, Apple Seeds and Beverly Hills Dry Cleaners. Rob Rizzi and Jennifer Keller of HFF arranged the financing for the borrower.
AMHERST, N.Y. — WS Development has commenced construction of the first phase of its redevelopment of Northtown Plaza in Amherst. The first phase will include a 50,000-square-foot Whole Foods Market, which will be the grocer’s first location in Western New York. The store is slated to open in 2017. Picone Construction will serve as general contractor for the building construction. WS Development acquired the 400,000-square-foot Northtown Plaza, located at the intersection of Niagara Falls Boulevard and Sheridan Drive, in 2015.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a package of 128 sponsor-held condominiums in a 280-unit condominium building located 100 W. 93rd St. in Manhattan’s Upper West Side. A local real estate investor acquired the 29-story, 403,000-square-foot building from a real estate investment partnership for an undisclosed price. Brian Ezratty, Deborah Gutoff and George Moss of Eastern Consolidated represented the seller, while Gutoff and Moss also represented the buyer in the deal. Scott Ellard of Eastern Consolidated served as analyst for the deal.
NEW YORK CITY — Meridian Capital Group has arranged $14.4 million in permanent financing for the refinance of a mixed-use property located at 156 Prince St. in SoHo. The five-year loan, provided by a balance sheet lender, features a fixed rate, 18 months of interest-only payments and a five-year extension option. Scott Assouline and Isaac Lifshitz of Meridian Capital arranged the financing for the borrower. The six-story property features 22 apartment units and two retail spaces totaling 1,100 square feet. The retail spaces are currently occupied by Techno Solutions Group Inc. and Juice Press.
NEW YORK CITY — Cignature Realty has arranged the sale of a multifamily property located at 574 W. 161st St. in Manhattan’s Washington Heights neighborhood. BSF 574 West 161st Street Holding LLC acquired the asset from Hillcrest Acquisitions LLC for $7.2 million, or $286 per square foot. Built in 1910, the five-story, 25,160-square-foot building features 31 apartments. Lazer Sternhell and Peter Vanderpool of Cignature Realty represented the buyer and the seller in the transaction.
CENTRAL ISLIP, N.Y. — Meridian Capital Group has arranged $65.2 million in acquisition financing for the purchase of Hawthorne Court, a multifamily property located in Central Islip. The borrowers were Spruce Capital Partners and Post Road Properties. The seven-year Freddie Mac loan, provided by Capital One Multifamily Finance, features a fixed rate and three years of interest-only payments. Abe Hirsch and Zev Karpel of Meridian negotiated the transaction. Located at 111-211 Hawthorne Ave., the 20-building property features 434 apartments, 682 parking spaces and a swimming pool.
NEW YORK CITY — Madison Realty Capital (MRC) has completed the disposition of a multifamily property located at 265-267 S. Second St. in Brooklyn’s Williamsburg neighborhood. An undisclosed buyer acquired the asset for $22.4 million. The six-story, 22,800-square-foot building features 35 apartment units. MRC originally acquired the property in 2013 for $9.7 million and implemented a renovation and repositioning plan aimed to add significant value to the asset. The renovations included new kitchens, updated bathrooms, recessed lighting and hardwood floors, as well as open-air terraces and ground-floor outdoor spaces for select units.
