New York

Marcus & Millichap Brokers $13.3M Sale of Four-Property Multifamily Portfolio in Manhattan

by Amy Works April 20, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of a four-property multifamily portfolio in Manhattan’s West Harlem neighborhood. The 60-unit portfolio includes 104 West 144th St., 106 West 144th St., 108 West 144th St. and 110 West 144th St. Treetop Development acquired the portfolio for $13.3 million, or $221,667 per unit, from 114 St. Johanna Associates. Peter Von Der Ahe, Shlomo Manne, Scott Edelstein, Marco Lala, Seth Glasser and Rafi Moskowitz of Marcus & Millichap arranged the transaction.

April 20, 2015

New York Northeast Office

Marcus & Millichap Brokers $14.8M Sale of Vacant Office Building in Queens

by Amy Works April 17, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an office building located at 90-75 Sutphin Blvd. in the Jamaica neighborhood of Queens. Arbern Sutphin Properties Corp. sold the 80,400-square-foot six-story property for $14.8 million, or $185 per square foot, to Flushing, N.Y.-based Ampiera Group. The property features three elevators, a 13,000-square-foot basement and a 70-car, 10,000-square-foot underground parking garage. Scott Plasky of Marcus & Millichap negotiated the transaction.

April 17, 2015

New York Northeast Retail

Eastern Consolidated Arranges Two Retail Sales Totaling $7.3M in NYC

by Amy Works April 17, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of two retail properties totaling $7.3 million in separate transactions. In the first deal, Walter & Samuels purchased a 3,541-square-foot retail condominium in the Flatiron District from Diamond Properties for $4.7 million. Located at 40 East 20th St., the property features 1,921 square feet of ground-level space and 1,620 square feet of basement space. The property is currently occupied by Flûte Bar & Lounge. Adelaide Polsinelli of Eastern Consolidated represented the buyer, while Peter Hauspurg, David Schechtman, Abie Kassin and Evan Papanastasiou, also of Eastern Consolidated, represented the seller. In the second transaction, a national buyer acquired a 5,200-square-foot mixed-use building located at 3914-3924 13th Ave. and 1267 40th St. in Brooklyn’s Borough Park. A local family sold the asset for $2.6 million. The two-story building features 4,034 square feet of unused and intact air rights and 95 feet of frontage along 13th Avenue. The property is currently occupied by Kid Dy No Mite Furniture, Robert’s Beauty Salon, Ari Universal Cell Phone Store and Community Home Care. Polsinelli represented the seller, while Ronda Rogovin of Eastern Consolidated represented the buyer in the transaction.

April 17, 2015

Mixed-Use New York Northeast

Affinity Health Plan, Fresenius Medical Care North America Leases Brings Metro Center Atrium to Full Occupancy

by Amy Works April 16, 2015

NEW YORK CITY — Simone Development Cos. has fully leased its new 370,000-square-foot mixed-use complex, Metro Center Atrium in the Bronx. Affinity Health Plan has leased 102,507 square feet at the property and 2,000 square feet of storage space on the Hutch Metro Center campus, and Fresenius Medical Care North America has leased 21,105 square feet at the complex. With these leases the 370,000-square-foot Metro Center Atrium is fully occupied. Retail and healthcare tenants include LA Fitness, Applebee’s, Dunkin Donuts, Children’s Corner, Montefiore Medical Center, Calvary Hospital, Hanger Prosthetics, Parkchester Oral & Maxillofacial Surgery and Ophthalmologist Dr. Eric Wolf. Situated within Simone Development’s Hutchinson Metro Center, Metro Center Atrium features three floors of Class A office and medical space, retail and restaurant space, and a Marriott hotel.

April 16, 2015

Loans New York Northeast Retail

NorthMarq Capital Closes $4.2M Refinance Loan for Retail Property in White Plains

by Amy Works April 16, 2015

WHITE PLAINS, N.Y. — NorthMarq Capital’s Greater Westchester New York/Connecticut office has arranged $4.2 million in refinancing for a retail property located at 350-360 Tarrytown Road in White Plains. The 10-year loan, provided by a local bank, features a 30-year amortization schedule. The 18,056-square-foot retail center is anchored by a Men’s Wearhouse. Robert Ranieri of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower.

April 16, 2015

Loans New York Northeast Retail

Thorofare Funds $4.2M Adaptive Reuse Financing for Brooklyn Mixed-Use Property

by Amy Works April 15, 2015

NEW YORK CITY — Los Angeles-based Thorofare Capital has funded a $4.2 million adaptive reuse loan for a mixed-use property located in Brooklyn’s Bushwick neighborhood. The undisclosed borrower plans to implement a capital improvement program at the property, located at 599 Johnson Ave., to convert the asset into entertainment, food and beverage and retail use.

April 15, 2015

Multifamily New York Northeast

Eastern Consolidated Arranges $6.6M Sale of Greenwich Village Apartment Building

by Amy Works April 14, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of a walk-up apartment building, located at 630 Hudson St. in New York City’s Greenwich Village. 630 Hudson LLC purchased the property for $6.6 million from Hudson Unity LLC. The four-story, 6,158-square-foot residential building features six one-bedroom apartments, five of which are rent stabilized, a basement and ground-floor retail space. Gabriel Saffioti of Eastern Consolidated represented the buyer, while Andrei Danshes and Roberto Ortiz, also of Eastern Consolidated, represented the seller in the transaction.

April 14, 2015

Multifamily New York Northeast

Houlihan-Parnes Realtors Brokers Sale of Apartment Building in the Bronx

by Amy Works April 14, 2015

NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of an apartment building located at 2275 Morris Ave. in the University Heights neighborhood of the Bronx. A Great Neck, Long Island-based real estate holding company purchased the building for $2.7 million from an undisclosed seller. The five-story walk-up building features 25 apartment units and five ground-floor retail units. The buyer facilitated the acquisition with a five-year loan, which features a 3.5 percent interest rate and a 30-year amortization schedule. Jeremiah Houlihan negotiated the transaction. The seller was represented by Valentin Djonovic P.C. and the buyer was represented by James Prince, Esq.

April 14, 2015

Multifamily New York Northeast

GFI Realty Arranges $1.2M Sale of Bushwick Multifamily Property

by Amy Works April 14, 2015

NEW YORK CITY — GFI Realty Services has arranged the sale of an apartment building located at 138 St. Nicholas Ave. in the Bushwick section of Brooklyn. The three-story walk-up sold for $1.2 million or 16 times the rent roll. Constructed in 1931, the property features six apartments. Kobi Zamir of GFI Realty Services represented the buyer, and Ron Kavrai, also of GFI, represented the seller in the transaction. The buyer and seller are both local investors.

April 14, 2015

Multifamily New York Northeast Pennsylvania

Marcus & Millichap Arranges $88M Sale of Manufactured Housing Portfolio

by Amy Works April 13, 2015

PITTSFORD, N.Y. — Marcus & Millichap has brokered the sale of an 11-property manufactured housing portfolio located in western New York and Pennsylvania. Federal Capital Partners and Horizon Land Co. purchased the 2,413-site portfolio from Pittsford-based Morgan Management. Jonathon McClellan, Kyle Baskin, J.D. Parker and Mark Taylor of Marcus & Millichap represented the seller in the transaction.

April 13, 2015

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