New York

Damianos Realty Groups Acquires Smithtown Office Building for $10.6M

by Amy Works August 3, 2015

SMITHTOWN, N.Y. — Damianos Realty Group LLC has acquired an office building located at 50 Route 111 in Smithtown. The three-story, 50,000-square-foot property sold for $10.6 million. Built in 1984, the property is 96 percent occupied by a variety of corporate and medical tenants, including Merrill Lynch, New York Commercial Bank, Devitt Spellman Barrett LLP and State Assemblyman Michael Fitzpatrick. The buyer plans to renovate and upgrade portions of the property, and has engaged Mancini Architecture PLLC to redesign the building’s exterior and lobby. John LaRuffa of NAI Long Island represented the seller, while John Finn of Damianos Realty Group provided in-house representation for the buyer.

August 3, 2015

Multifamily New York Northeast

Cignature Realty Brokers $7M Sale of Multifamily Property in Manhattan

by Amy Works August 3, 2015

NEW YORK CITY — Cignature Realty Associates has brokered the sale of an apartment building located at 718 W. 171st St. in Manhattan’s Washington Heights neighborhood. Heritage Realty Services acquired the 21,735-square-foot walk-up property for $7 million. The building contains 22 apartments, with an average rent of $1,490 per month. Lazer Sternhell and Peter Vanderpool of Cignature Realty represented the buyer and the seller, Haven Holding LLC, in the transaction.

August 3, 2015

Loans New York Northeast Office

Meridian Capital Arranges $95M Refinance Loan for Office Property in NYC

by Amy Works July 31, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $95 million mortgage for the refinancing of an office property located on lower Broadway in Manhattan’s Financial District. The 12-year loan, provided by a life insurance company, features a 3.78 percent fixed rate and six years of interest-only payments followed by a 30-year amortization schedule. Constructed in 1983, the 32-story property offers 403,800 square feet of Class A office space. Abe Hirsch and Daniel Jacob Meridian negotiated the financing for the undisclosed borrower.

July 31, 2015

Loans New York Northeast Retail

Cushman & Wakefield Closes $8.1M Loan for Retail Property in Brooklyn

by Amy Works July 31, 2015

NEW YORK CITY — Cushman & Wakefield has arranged an $8.1 million construction/rehab loan for a corner retail property located in Brooklyn’s Prospect Park South. The loan features a three-year term, with extensions, at an interest rate of LIBOR (London Interbank Offered Rate) plus 4.25 basis points. The loan will cover 100 percent of the project costs, which include significant renovations to the existing building. Preston Flammang of Cushman & Wakefield handled the transaction. The name of the borrower was not released.

July 31, 2015

Multifamily New York Northeast Retail

Marcus & Millichap Brokers $5.3M Land Parcel Sale in Brooklyn

by Amy Works July 31, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of a land parcel located at 137 Frost St. in Brooklyn. The 7,500-square-foot parcel sold for $5.3 million. Shaun Riney, Michael Salvatico and James Saros of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both private investors, in the transaction.

July 31, 2015

Multifamily New York Northeast

Joint Venture Breaks Ground on 157-Unit Residential Tower in Tribeca

by Amy Works July 30, 2015

NEW YORK CITY — A joint venture between Fisher Brothers, Witkoff and New Valley has broken ground on 111 Murray Street, an 800-foot residential tower in Tribeca. Designed by Kohn, Pederson Fox, the property will feature more than 300,000 square feet of condominiums, ranging from one-bedroom to five-bedroom units priced between $2 million and more than $17.5 million. The 157-residence tower will feature a 24/7 doorman and concierge, lobby, private dining room with fully equipped demonstration kitchen, landscaped private garden, 75-foot lap pool, children’s splash pool, fitness center, hair salon, teen arcade, children’s playroom and media room. Completion is slated for early 2018.

July 30, 2015

Mixed-Use Multifamily New York Northeast Office Retail

Cushman & Wakefield Arranges $13.2M Sale of Mixed-Use Property in Manhattan

by Amy Works July 30, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use property located at 23 E. 17th St. in Manhattan’s Ladies’ Mile Historic District. The 10,998-square-foot property sold for $13.2 million, or $1,205 per square foot. Built in 1902, the six-story property consists of two ground-floor retail spaces, one second-floor commercial space and apartment units on the upper floors. Thomas Gammino Jr., John Ciraulo and Craig Waggner of Cushman & Wakefield brokered the transaction. The names of the buyer and seller were not released.

July 30, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $1.4M Apartment Building Sale in Brooklyn

by Amy Works July 30, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 252 Union Ave. in Brooklyn. The four-unit property sold for $1.4 million. Shaun Riney, Michael Salvatico and James Saros of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a developer, in the transaction.

July 30, 2015

New York Northeast Office

KZA Realty Group Brokers Two Sales Totaling $4.7M in the Bronx

by Amy Works July 29, 2015

NEW YORK CITY — KZA Realty Group has brokered two sales transactions totaling $4.7 million in the Bronx. In the first purchase, The Transit Worker’s Union acquired a three-story, 34,456-square-foot building located at 2475 Westchester Ave. for $3 million. The buyer will use the property to provide counseling on affordable housing, healthcare services, representation and related service to Transit Worker’s Union members. Michael Gilbert of Gilco Realty represented the seller, 437 East 165th Street Realty Corp., in the transaction. In the second deal, Azimuth Development Group purchased a 6,691-square-foot licensed parking lot for $1.7 million. The buyer plans to use the lot as a development site. David Simone of Cushman & Wakefield represented the seller, 1164 Wheeler Avenue LLC, in the transaction. Kathy Zamechansky of KZA Realty Group represented the buyers in both deals.

July 29, 2015

Multifamily New York Northeast

Marcus & Millichap Arranges $2.5M Sale of Multifamily Property In Brooklyn

by Amy Works July 29, 2015

NEW YORK CITY — Marcus & Millichap has arranged the sale of a multifamily property located at 910 Prospect Place in Brooklyn. The eight-unit property sold for $2.5 million. Shaun Riney, Derek Bestreich and Lucien Sproviero of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a developer, in the transaction.

July 29, 2015

Newer Posts

Older Posts