NEW YORK CITY — Canyon Capital Realty Advisors LLC has provided $120 million in senior construction financing to LSG 365 Bond Street LLC, an affiliate of Lightstone. The loan will be used for the ground-up development of a 12-story residential community in Brooklyn’s Gowanus neighborhood. Located at 365 Bond St., the multifamily property will feature 429 residential units, including 86 affordable housing units. Additionally, the project will include a public esplanade along the Gowanus Canal, which will provide a lighted walkway, public outdoor space and access to the canal. Meridian Capital Group advised Lightstone on the transaction.
NEW YORK CITY — Mission Capital Advisors’ Debt & Equity Finance Group has arranged $21 million in first mortgage financing on behalf of Northwind Group for the acquisition of 66 Pearl Street in New York City. Northwind Group is purchasing the six-story, mixed-use residential property located in New York City’s Financial District for $30 million. The 43,546-square-foot building features 42 residential units, with 6,485 square feet of ground-floor retail. Jonathan More, Ari Hirt, Steve Buchwald and David Behmoaras represented the sponsor, Northwind Group, in arranging the financing with Sterling National Bank.
NEW YORK CITY — Ariel Property Advisors has brokered the sales of two properties located in Upper Manhattan totaling $7.2 million. In the first transaction, a private developer purchased a development site at 1516-1532 Park Avenue in East Harlem for $3.8 million. Zoning for the property permits approximately 28,730 buildable square feet as-of-right for a mixed-use development, and approximately 35,419 buildable square feet with a community facility. Michael Tortorici, Victor Sozio, Shimon Shkury and Marko Agbaba of Ariel represented the seller, a private investor, and procured the buyer in the deal. In the second transaction, a private real estate investment group sold 422 St. Nicholas Avenue in Central Harlem for $3.35 million to a private real estate investment group. The 11,105-square-foot building consists of 10 units with nine three-bedroom units and one two-bedroom unit. Sozio, Tortorici and Shkury represented both parties in the transaction.
NEW YORK CITY — TerraCRG has brokered the sale of a development site located at 949 Pacific St. in Brooklyn for $1.6 million or $385 per buildable square foot. Located on the border of Prospect Heights and Crown Heights, the site was delivered with a partially constructed property and active permits with approved plans for residential development. The plans include 4,120 gross square feet with four units, including three one-bedroom apartments and one duplex two-bedroom penthouse unit. Ofer Cohen, Melissa DiBella Warren, Dan Marks, Peter Matheos, Michael Hernandex and Joey Terzi of TerraCRG represented the seller in the transaction.
NEW YORK CITY — GFI Realty Services has arranged the sale of a four-building multifamily portfolio in Brooklyn’s Bay Ridge and Midwood neighborhoods for $60.3 million or $232,000 per unit. The properties include 465-476 84th Street in Bay Ridge, 2566 Ocean Avenue, 1745 East 12th Street and 1811 Quentin Road in Midwood. Daniel Shragaei and Yosef Katz of GFI represented both the buyer and the seller in the off-market transaction.
NEW YORK CITY — HFF has arranged the sale of a development site located at 11-55 49th Ave. in Long Island City. Criterion Group purchased the site for an undisclosed price. Currently a 26,415-square-foot vacant parking lot, the site is zoned for 132,074 square feet of residential or commercial development. Andrew Scandalios, Jeff Julien, Rob Hinckley and David Fowler of HFF represented the seller and procured the buyer in the transaction.
MASSAPEQUA, N.Y. — NorthMarq Capital has arranged $21.5 million in refinancing for Southgate Shopping Center in Massapequa. Located at 4900-4914 Merrick Road, the 117,960-square-foot center is occupied by King Kullen Supermarket and U.S. Post Office, among others. Charles Cotsalas and Ernest DesRochers of NorthMarq secured the loan, which features a 15-year term with 10 years interest-only payments and a 30-year amortization schedule. NorthMarq arranged the financing through its correspondent relationship with a life insurance company.
STATEN ISLAND, N.Y. — Sovereign Realty Group has completed the sale of a freestanding bank building on Staten Island. Train City Ltd. sold the asset sold for $3.5 million or $1,105 per square foot to a private investor from New York City. Located at 386 Forest Ave., the 3,165-square-foot building is occupied by Capital One. Frank Caporrino and Clem Cote of Sovereign Realty Group brokered the transaction.
NEW YORK CITY — GFI Realty Services has brokered the sale of 1 East 124th Street, a five-story walk-up apartment building located in the East Harlem section of Manhattan. Built in 1910, the 10-unit property sold for $2.15 million or $215,000 per unit. Roni Abudi of GFI represented the seller, while Ohad Bado, also GFI, represented the buyer, Kassin Sabbagh Realty, in the transaction.
WHITESTONE, N.Y. — NorthMarq Capital’s Long Island-based office has arranged $5 million in refinancing for Allied Shopping Center, a retail property located in Whitestone. Located at Francis and Willis Point boulevards, the property offers 42,458 square feet of retail space. The financing was structured with a 10-year term and a 25-year amortization schedule. Charles Cotsalas of NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.