TROY, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center in Troy, located just north of Albany. Big Lots anchors the center, which sits on a 12.2-acre site and was 97 percent leased at the time of sale. Other tenants include Friendly’s, Sonic, Subway, Starbucks, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
EAST SETAUKET, N.Y. — Stony Brook University Hospital has signed a 16,000-square-foot lease on Long Island. The regional provider now occupies an entire 25,000-square-foot building within the 103-acre Stony Brook Technology Center campus in East Setauket. David Leviton from JLL represented the tenant in the lease negotiations. Maria Valanzano and Steven D’Orazio of Colliers represented the landlord, TRITEC Real Estate Co.
MONTGOMERY, N.Y. — New York-based developer Ridgecut Road will develop a 146,075-square-foot industrial project in Montgomery, located about 70 miles northwest of Manhattan in Orange County. The site spans 13.6 acres, and the facility will be branded I-84 Orange County Logistics Center. Building features will include a clear height of 36 feet, 31 dock doors and parking for 16 trailers and 83 cars. Premier Design + Build Group is handling architecture and construction work. Jim Pancyzkowski and Zach Antonucci of JLL are marketing the development for lease. Guy Hananya of Clear Height Advisors brokered the off-market land deal. Ridgecut Road plans to break ground on the project later this year.
TONAWANDA, N.Y. — Locally based financial intermediary Largo Capital has arranged a $12.1 million loan for the refinancing of a 307,000-square-foot warehouse located just outside of Buffalo in Tonawanda. The building, which features a clear height of 36 feet, 28 dock-high doors and two drive-in doors, was fully leased at the time of the loan closing. Jack Phillips of Largo Capital arranged the loan on behalf of the undisclosed borrower. The name of the direct lender was also not disclosed.
NEW YORK CITY — Pearl World has signed a 12-year, 8,800-square-foot office lease at Carnegie Hall Tower in Manhattan’s Plaza District. The space of the cosmetics retailer, which is relocating from 37 West 57th Street, spans the entire 48th floor and can also support its showroom. Dennis Someck and Justin Myers of Lee & Associates represented Pearl World in the lease negotiations. Matt Leon with Newmark represented the landlord, TF Cornerstone.
NEW YORK CITY — Cushman & Wakefield has negotiated a 12,500-square-foot office lease at 277 Park Avenue in Midtown Manhattan. The tenant, ERM Engineering & Consulting Inc., will occupy part of the 20th floor of the 1.8 million-square-foot building. Mark Boisi, Bryan Boisi and Stephen Bellwood of Cushman & Wakefield represented the landlord, The Stahl Organization, in the lease negotiations. Kirill Azovtsev of Savills represented the tenant.
NEW YORK CITY — Locally based brokerage firm Rosewood Realty Group has arranged the $2 million sale of a 29-unit apartment building located at 407 W. 205th St. in Manhattan’s Inwood neighborhood. The five-story building was originally constructed in 1911. Ben Khakshoor, Aaron Jungreis and Alex Fuchs of Rosewood represented both the buyer, Gilman Management, and the seller, family office Ramer & Saperstein, in the transaction. The deal traded at a cap rate of 7.8 percent.
NEW YORK CITY — Cushman & Wakefield has secured a 47,000-square-foot office lease at 277 Park Avenue in Midtown Manhattan. The tenant, private equity firm Arsenal Capital Management, will occupy the entire 33rd and 34th floors of the 1.8 million-square-foot building. Mark Boisi, Bryan Boisi and Stephen Bellwood of Cushman & Wakefield represented the landlord, The Stahl Organization, in the lease negotiations. Josh Friedman and Neil Goldmacher of Newmark represented the tenant.
NEW YORK CITY — LIFT Inc. has signed a five-year, 3,500-square-foot office lease in The Bronx. The nonprofit organization will cut the ribbon on its custom-built space at the building at 412-424 E. 147th St. later this month. Alexander Smith and Kendall Elliott of OPEN Impact Real Estate represented the tenant in the lease negotiations. Jesse Rubens of JLR Realty Inc. represented the landlord.
NEW YORK CITY — Dwight Mortgage Trust, the affiliate REIT of locally based lender Dwight Capital, has provided a $108.1 million bridge loan for The Shoreline, a 248-unit multifamily project located near Brooklyn’s Bath Beach neighborhood. Designed by Hill West Architects and developed by NY Developers & Management, the 31-story building houses studio, one- and two-bedroom units and 28,610 square feet of commercial space. Amenities include a pool, fitness center, business center and an outdoor lounge. The borrowers will use the proceeds to retire existing debt and fund additional construction and lease-up costs. Construction is slated for completion by the end of April.