NEW YORK CITY — TerraCRG has arranged the sale of a commercial building located at 401 State St. in the Boerum Hill neighborhood of Brooklyn. The 12,000-square-foot building sold for $10 million, or $833 per existing square foot. The property was sold vacant and is ideal for a community facility, office or residential conversion. Ofer Cohen, Melissa Warren, Dan Marks, Peter Matheos and Michael Hernandez of TerraCRG represented seller Joseph Streicher, while Mark Kennedy of Douglass Elliman represented the buyer in the transaction.
NEW YORK CITY — Himmel + Meringoff Properties has leased 30,720 square feet of office space to Dataminr at Six East 32nd St. in New York City’s NoMad district. The company has signed a 10-year lease for two floors at the 11-story office building. Dataminr, which transforms real-time data from Twitter and other public sources into actionable signals, is relocating and expanding from 99 Madison Ave. Jason Vacker represented the ownership, Himmel + Meringoff Properties, while Matthew McBride of CBRE represented the tenant.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of two contiguous mixed-use buildings in the Bayside neighborhood of Queens. Located at 39-32/34 Bell Blvd., the properties sold for $3.8 million, or $731 per square foot. Totaling 5,200 square feet, the assets feature two retail stores and four residential units. Stephen Preuss of Cushman & Wakefield represented the seller, while Jimmy Ma of Golden Bridge Realty represented the buyer in the transaction. The names of the seller and buyer were not released.
AVERILL PARK, N.Y. — A joint venture between Sunrise Management & Consulting, Robert Bucher Architects and JPM Contractors is converting Sand Lake Elementary School into a Homeroom Lofts, a 31-unit apartment community in Averill Park. Built in 1929, the converted property will combine original detail and modern amenities, including sliding glass wall systems to maximize space and natural light, stainless steel appliances, stone countertops, sophisticated glass and ceramic tile bathrooms and solar shade window treatments. Community amenities will include a garden, courtyard terrace and 1.75 acres of green space. Homeroom Lofts is the first development project for the joint venture.
NEW YORK CITY — USAA Real Estate Co. has partnered with Waterman Interests LLC to acquire two mid-block office properties in Manhattan’s Times Square South market for an undisclosed sum. Known as the Midtown West Collection, the portfolio includes the 10-story, 91,466-square-foot property at 234 West 39th St. and the 17-story, 118,338-square-foot building located at 142 West 36th St. The assets are located within walking distance from Times Square and Herald Square subway hubs, as well as the 34th Street retail corridor and Hudson Yards, which is slated to come online in 2016. Terms of the transaction were not released.
NEW YORK CITY — HFF has arranged a $38.1 million preferred equity investment in an office property located at 95 Morton St. in Manhattan’s Midtown South neighborhood. HFF worked on behalf of the owner, Brickman, to secure the preferred equity through a national REIT for the 205,000-square-foot Class A property. The capital will be used to complement existing low-leverage financing, support further lease-up and allow for additional base building capital improvements. Originally built in 1911, the property was renovated in 2000 and is 88 percent occupied by a variety of technology, advertising, media and information tenants. Jay Marshall, Christopher Peck and David Fowler of HFF secured the financing for the borrower.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building at 1004-1008 Second Ave. in Manhattan’s Midtown East neighborhood. An undisclosed buyer acquired the five-story property in an all-cash transaction for $20 million, or $1,282 per square foot. The 15,605-square-foot property features two commercial units, occupied by restaurants, and 25 residential units, of which 19 are free market, four are rent stabilized and two are rent controlled. Clint Olsen of Cushman & Wakefield represented the undisclosed seller, while Ricky Braha of JTRE Holdings represented the buyer in the transaction.
LONG ISLAND, N.Y. — M. Robert Goldman & Company Inc. (MRG) has arranged $272.2 million in financing in two transactions for Long Island-based GTJ REIT Inc. The first transaction for $233.1 million covered 28 properties throughout New York, New Jersey and Connecticut. The financing was provided through MRG’s correspondent relationship with AIG Asset Management on behalf of many of its insurance company subsidiaries. Proceeds from the 10-year, interest-only loan were used to retire existing debt. Additionally, MRG secured a $39.1 million acquisition loan for GTJ’s purchase of the six-property, 734,000-square-foot Sudler industrial portfolio in Piscataway, N.J. The financing was secured with Allstate Life Insurance Co. Jonathan Goldman and John Robustello of M. Robert Goldman & Company handled the debt placements.
KIRKWOOD, N.Y. — An affiliate of Blue Bell, Pa.-based Equilibrium Equities Inc. has acquired a distribution center located at One Grosset Drive in Kirkwood, within the Greater Binghampton, N.Y., area. Penguin Random House LLC sold the property for an undisclosed price. The buyer plans to immediately rebrand the 514,000-square-foot center as a multi-tenant distribution facility called Triumph Business Center. Situated on 51 acres, the property features 28- and 29-foot ceiling heights, a 62,000-square-foot rack-support section, and a fully automated storage and retrieval system with an 82-foot ceiling height. Planned renovations include improved exterior aesthetics, lighting and signage upgrades, minor building system repairs and improved truck loading. Pre-leasing activities for the rebranded center have already commenced.
PURCHASE, N.Y. — WESTMED Medical Group has opened its fifth full-service office in Westchester County, N.Y. Located at 3030 Westchester Ave. within Purchase Professional Park in Purchase, the four-story, 85,000-square-foot medical office property is the first new construction along the Interstate 287 corridor in more than 25 years. Developers Simone Healthcare Development and Fareri Associates completed the $22 million property in less than 14 months. The medical facility will offer a variety of specialty practices, including internal medicine, pediatrics, dermatology, endocrinology, ENT, plastic surgery, reproductive endocrinology, critical care and neurology among others.