NEW YORK CITY — Cushman & Wakefield has arranged the sale of a 2,919-square-foot retail building in the Bensonhurst neighborhood of Brooklyn. The two-story property sold for $3 million or $1,028 per square foot. Jeffrey A. Shalom of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a private investor. The entire building is currently leased through August 2019 to Free Time Hangout, a Cantonese restaurant.
BAYONNE, N.J. — Marcus & Millichap has brokered the sale of a mixed-use building in Bayonne for $1.9 million. Fahri Ozturk and Tyler Van Wagoner of Marcus & Millichap represented the seller, a private owner, in the transaction. The buyer was undisclosed. Located at 554-556 Broadway, the building contains 10,260 square feet of ground-floor retail space and 7,510 square feet of second-floor office space. The new owner plans to redevelop the property into a four-story mixed-use building.
CANONSBURG, PA. — HFF has arranged the $90 million refinancing of Zenith Ridge Corporate Campus, a 486,000-square-foot, three-building office park in Canonsburg. HFF represented the borrower, Quattro LP, in securing a 10-year, fixed-rate loan through Starwood Mortgage Capital. Burns Scalo Real Estate currently manages the property. Amenities at the office campus include walking trails, outdoor exercise stations, ping pong tables, communal fire pits, outdoor patios and outdoor meeting areas. Zenith Ridge Corporate Campus is fully leased.
WINDSOR, CONN. — KeyBank Real Estate Capital has provided a $20 million Freddie Mac, first mortgage loan for Windsor Station, a 130-unit multifamily community in Windsor. Built in 2017, the property sits on 6.5 acres and comprises two four-story buildings. Tom Peloquin of KeyBank arranged the non-recourse, fixed-rate financing with a 12-year term, six years of interest-only payments and a 30-year amortization schedule. The loan will be used to refinance existing debt. The lender was undisclosed. Lexington Partners LLC and LAZ Investments developed Windsor Station.
NEW YORK CITY — RD Management and partner Yassky Properties have acquired a 6,316-square-foot mixed-use building located at 55 5th Ave. in Brooklyn for $4.1 million. The seller was Burke Leighton Asset Management. The four-story building was built in 1920 and includes six apartments and a 1,390-square-foot, ground-level retail space that is currently vacant. Yassky will manage the property.
HEMPFIELD TOWNSHIP, PA. — CBL Properties, in partnership with Stadium Casino LLC, has unveiled plans to develop a 100,000-square-foot casino and entertainment complex at CBL’s Westmoreland Mall in Hempfield Township. Stadium Casino LLC is a joint venture between The Cordish Cos. and Greenwood Gaming & Entertainment. The new casino will backfill space currently occupied by Bon-Ton, which will close in early August. The project, which is expected to create 600 jobs, is subject to the review and approval of the Pennsylvania Gaming Control Board. A construction timeline will be released upon approval.
NEW YORK CITY — Fisher Brothers has signed Deluxe Financial Services to a 21,229-square-foot lease at 605 Third Ave., a 1.1 million square-foot office tower in Manhattan. The financial services provider will occupy the entire 37th floor of the building. Ryan Tibbits and Harry Krausman of Cushman & Wakefield represented Deluxe Financial Services in the transaction. Since completing a $25 million capital improvement program at 605 Third Ave., Fisher Brothers has executed 280,000 square feet of leases at the tower. Originally built by Fisher Brothers in 1963, the 44-story building is certified LEED Gold by the U.S. Green Building Council with a tenant roster that includes Univision, AECOM, David Hutcher & Citron LLP and the United Nations Population Fund.
NEW YORK CITY — Mission Capital Advisors has secured $21 million in non-recourse acquisition and construction financing for a luxury, six-unit condo conversion in the Chelsea neighborhood of Manhattan. Located at 214-216 W. 15th St., the property is a former nursery school. Once completed, the residences will feature 10-foot ceilings, private balconies, and modern kitchens. Raymond Salameh, Ari Hirt, Steven Buchwald, and Lexington Henn of Mission Capital represented developer Holliswood Development in securing financing from a Philadelphia-based debt fund. Terms of the financing were not disclosed.
NEW YORK CITY — Ariel Property Advisors has negotiated the $15.9 million sale of a 71-unit multifamily portfolio in the Flatbush neighborhood of Brooklyn. The portfolio is made up of nine buildings and spans 79,932 square feet. Victor Sozio, Alexander McGee and Michael A. Tortorici of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was also undisclosed. The properties in the portfolio are located at 90-92 E. 18th St.; 25 E. 21st St.; 369 E. 21st St.; 600 E. 22nd St.; 2102, 2108, 2112 and 2116 Regent Place; and 2322 Bedford Ave.
NEWARK, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a parking facility in downtown Newark. Located at 1160 Raymond Boulevard, the four-story garage can accommodate 357 vehicles. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer, and Ryan Larkin of Cushman & Wakefield represented the sellers, Lincoln Equities Group and Welcome Parking. Edison Properties purchased the property.