PLYMOUTH, MASS. — Fantini & Gorga has arranged a $3 million loan for the purchase of a gas station ground lease in Plymouth. Located at 7 Home Depot Drive, the property is currently occupied by a Shell gas station. The property also includes a car wash and convenience store. Casimir Groblewski and Jon Garcia of Fantini & Gorga secured the financing for the borrower, 7 Home Depot Drive LLC, through a Massachusetts based financial institution. Terms of the loan were undisclosed. The seller was Balder LLC.
BOSTON — NKF Capital Markets has brokered the $222 million sale of a 304,178-square-foot office building in Boston. Located at 200 State St., the property is currently 96 percent leased to a 21-tenant roster that includes Beacon Health Options, TD Bank, FTI Consulting, Beacon Capital Partners and TIFF Investment Management. Edward Maher, Matthew Pullen and James Tribble of NKF’s Boston Capital Markets team represented the seller, GLL Real Estate Partners, in the transaction. The buyer was Carr Properties.
CAMBRIDGE, MASS. — CBRE has secured a $120.2 million loan for the refinancing of Zinc Apartments, a 392-unit multifamily property in Cambridge. Located at 22 Water St., the high-rise community features an outdoor resident lounge, a 15,000-square-foot garden terrace, fitness center and 24-hour concierge service. Nate Sittema and Kristen Reilley of CBRE represented the borrower, Greystar Real Estate Partners, in securing a 10-year, fixed-rate loan through Freddie Mac.
NEW YORK CITY — HREC Capital Markets Group has arranged the $7.4 million refinancing of the leasehold interest in the Look Hotel Red Hook in Brooklyn. Located at 17 Seabring St. in the Red Hook neighborhood of Brooklyn, the property is adjacent to the Brooklyn Cruise Terminal. The hotel was recently renovated and upgraded to the Choice Hotels’ boutique Ascend Collection. Greg Porter and Mike Armstrong of HREC represented the borrower, Brooklyn Hotel Group, in securing a floating-rate, non-recourse loan from a private New York-based investment company.
NEW YORK CITY — Brax Realty has negotiated the $12.2 million sale of a two-building multifamily property on the Upper East Side of Manhattan. Located at 432- 434 E. 89th St., the properties were built in 1910 and are comprised of 41 units. Alan Stenson of Brax Realty represented the buyer, S.W. Management, in the transaction. The seller was H.S. Realty Associates Inc.
CEDARHURST, N.Y. — Rosewood Realty has arranged the $3.2 million sale of a three-story apartment building in Cedarhurst, Long Island. Located at 488 Central Ave., the 12,000-square-foot property was built in 1924 and includes eight apartments as well as two ground-floor retail spaces. The retail spaces include a restaurant and a children’s clothing store. Michael Guttman of Rosewood Realty represented both the buyer, PD Central LLC, and the seller, 488 Central Avenue LLC, in the transaction.
NEW YORK CITY — Integra Real Estate Capital has secured a $28 million bridge loan for a two-building, mixed-use property in the Lincoln Square section of Manhattan. Located at 15 Central Park West, the property includes a 19-story building and a 36-story building with a total of 202 residential units and 80,000 square feet of retail space. Amenities include a three-lane saltwater pool, a 14,000-square-foot fitness center, outdoor garden, game room, conference rooms and a wine cellar. Arthur and William Zeckendorf developed the property in 2008. Igor Goldenberg of Integra arranged the financing for the undisclosed borrower through a New York City-based debt-fund to refinance the existing debt on the property.
SPRING VALLEY, N.Y. — Meridian Capital Group has arranged a $22 million loan to refinance Central Crossing, a 115,000-square-foot shopping center in Spring Valley. Located at 175 East Central Ave., the shopping center is currently 98 percent leased to a tenant roster that includes Food Fair, Planet Fitness and Popeyes. Eli Serebrowski of Meridian secured the financing for the undisclosed borrower through a balance sheet lender. The loan features 10-year term with a rate of 4.2 percent and a 30-year amortization schedule.
SMITHTOWN, N.Y. — Benchmark has opened Whisper Woods of Smithtown, an assisted living and memory care community in Smithtown, located on Long Island. Whisper Woods is a three-story, 88,500-square-foot building that sits on 12.6 acres. The property, Benchmark’s first in New York, features 101 units that can serve up to 136 residents. “There has been a need for high-quality seniors housing on Long Island, where the 75-plus population has grown by 20 percent in the last eight years,” says Tom Grape, Benchmark’s chairman and CEO. “Whisper Woods is in an ideal location — close to downtown Smithtown and St. Catherine of Siena Medical Center.” Desiree Krajnyak-Baker is the community’s executive director, overseeing a team of 85. Based in Waltham, Mass., Benchmark operates 58 senior living communities offering independent living, assisted living, memory care and continuing care in Connecticut, Maine, Massachusetts, New Hampshire, New York, Pennsylvania, Rhode Island and Vermont.
WINDSOR, VT. — Marcus & Millichap has brokered the $2.3 million sale of Price Chopper Plaza, a 30,674-square-foot, grocery-anchored shopping center in Windsor. Located at 2781 US Route 5, the center is occupied by three service-based tenants, including Price Chopper, a regional grocery operator that has been at the site since 1998. The other tenants at the property include Dollar General and Aubuchon Hardware. Mark Krantz and Derrick Dougherty of Marcus & Millichap represented the seller, Gary Richetelli of Commercial Development Co., in the transaction. The buyer was a real estate investment firm based in Pittsburgh.