Northeast

Houlihan-Parnes Secures $30M Refinancing for Office Building in Tarrytown

by David Cohen May 17, 2018

TARRYTOWN, N.Y. — Houlihan-Parnes Realtors and GHP Office Realty have secured $30 million in refinancing for a Class A office building located at 660 White Plains Road in Tarrytown. GHP Office Realty, Houlihan-Parnes Realtors and RD Management purchased the building in 2017. The loan was structured into two facilities to preserve an existing below-market rate and provide for additional funds to complete all renovations and tenant build-outs. The loan is for a term of 12 years with the initial rate fixed for seven years. The 296,780-square-foot office building is currently 98 percent occupied with a tenant roster that includes Prestige Brands, ENT and Allergy Associates, and KeyBank National Association.

May 17, 2018

Loans Multifamily New York Northeast

Pembrook Provides $32.7M in Financing for Luxury Condo Redevelopment in Upper East Side

by David Cohen May 17, 2018

NEW YORK CITY — Pembrook Capital Management has provided a $32.7 million first mortgage loan to finance the condominium conversion of a restored mansion in the Upper East Side of Manhattan. The borrower was undisclosed. Located at 320 East 82nd St., Park Mansion will offer six full-floor units with outdoor space. Units range in size from 2,243 to 4,447 square feet with three to four bedrooms. Amenities will include a private gym, bike storage, individually locked storage rooms and a key-locked elevator. The property, which was originally constructed in 1900, is located between Central Park and Carl Shurz Park.

May 17, 2018

Acquisitions Northeast Retail Rhode Island

HFF Negotiates Sale of 60,488 SF Shopping Center in Southern Rhode Island

by David Cohen May 17, 2018

RICHMOND, R.I. — HFF has negotiated the sale of 22 Kingstown Road, a 60,488-square-foot shopping center in Richmond. The property includes a Super Stop & Shop grocery store, Super Stop & Shop Fuel Center and a 5,000-square-foot Anytime Fitness. HFF represented the undisclosed seller in the transaction and procured the institutional buyer. The shopping center serves the surrounding communities of Narragansett, Block Island and Charlestown.

May 17, 2018

Acquisitions Mixed-Use New York Northeast

Cushman & Wakefield Brokers $11.5M Sale of Mixed-Use Development Site in Bushwick

by David Cohen May 17, 2018

NEW YORK CITY — Cushman & Wakefield has brokered the sale of 333-335 Irving Ave., a mixed-use conversion opportunity in Brooklyn’s Bushwick neighborhood. The sales price was $11.5 million. DJ Johnson of Cushman & Wakefield represented the seller, Standard Tinsmith Supply, in the transaction. The buyer was Cheskie Weisz. 333-335 Irving Ave. consists of two lots. The first has an existing 12,500-square-foot warehouse and the second is a vacant 75-foot by 100-foot lot offering 31,500 buildable square feet. Nearby retailers include Starbucks, Dollar Tree and CVS, as well as a number of local bars and restaurants.

May 17, 2018

Leasing Activity New York Northeast Office

Law Firm Blank Rome Signs 138,000 SF Lease in Midtown Manhattan

by David Cohen May 17, 2018

NEW YORK CITY — Rockefeller Group has signed Blank Rome to a 138,000-square-foot office lease at 1271 Avenue of the Americas. Blank Rome will occupy floors 15 through 17, as well as part of the 14th floor. The law firm plans to relocate from the Chrysler Building in 2019. Ken Rapp, David Kleinhandler, Tim Dempsey and Zachary Weil of CBRE represented Blank Rome in the transaction. Built in 1959, the 48-story skyscraper was originally designed by Harrison & Abramovitz & Harris, the architects for all of Rockefeller Center. 1271 Avenue of the Americas is currently undergoing extensive renovations designed by the architectural firm Pei Cobb Freed & Partners. The project began in 2016 and is slated to be complete by the end of 2019. Major League Baseball and Mizuho Americas have also recently signed leases at the building.

May 17, 2018

Acquisitions New Jersey Northeast Retail

CBRE Negotiates $53M Sale of Grocery-Anchored Shopping Center in New Jersey

by David Cohen May 16, 2018

EDISON, N.J. — CBRE has negotiated the $53 million sale of Festival Plaza, a 151,763-square-foot, grocery-anchored shopping center in Edison. Asian grocer H Mart anchors the center, which is located at 1711-1783 Lincoln Highway. Other tenants include C2 Tutoring, China Trust Bank and Sunbright Hair Salon. Jeffrey Dunne, David Gavin and Travis Langer of CBRE represented the seller, Edison I LLC, in the transaction. The buyer was a local private investor. The population within three miles of the center is 131,555, according to CBRE.

May 16, 2018

Acquisitions Mixed-Use New York Northeast

Greystone Development Sells Historic Former Public Bath in Brooklyn for $10M

by David Cohen May 16, 2018

NEW YORK CITY — TerraCRG has arranged the $10 million sale of 227 4th Ave., a historic former public bath in the Park Slope neighborhood of Brooklyn. TerraCRG represented the seller, New York-based Greystone Development, in the transaction. The buyer was undisclosed. The building was first constructed in 1910 as Public Bath No. 7 to serve the largely immigrant population of Park Slope. The building was the last of Brooklyn’s public baths and was designed in Renaissance Revival style by architect Raymond F. Almirall. In 1937 the building was converted into a gymnasium and was placed on the National Register of Historic Places in 1985. Greystone acquired the 16,700-square-foot property in 2014 and completed renovations and restorations to the property. The building is currently leased to Blink Fitness.

May 16, 2018

Acquisitions Healthcare Massachusetts Northeast

NKF Capital Markets Coordinates $11.5M Sale of Blue Hills Medical Center in Suburban Boston

by David Cohen May 16, 2018

BRAINTREE, MASS. — NKF Capital Markets has orchestrated the sale of Blue Hills Medical Center in Braintree for $11.5 million. Braintree is 13 miles south of Boston. Located at 340 Wood Road, the 48,617-square-foot Blue Hills Medical Center is 100 percent leased to 14 tenants. The tenant roster includes Milton Pediatrics, MassGeneral Hospital for Children and South Shore Hospital. NKF represented the seller, Jumbo Capital Management, in the transaction. The buyer was Novaya Real Estate Ventures.

May 16, 2018

Leasing Activity New York Northeast Office

Cushman & Wakefield Arranges 90,000 SF of Leases at Office Tower in White Plains

by David Cohen May 16, 2018

WHITE PLAINS, N.Y. — Cushman & Wakefield has arranged two new leases and six lease renewals totaling 90,000 square feet at the Westchester One, a 21-story, 907,000-square-foot office tower in White Plains. The property is located at 44 S. Broadway in the central business district of White Plains. Cushman & Wakefield served as the exclusive leasing agent for building owner Argent Ventures. The two new leases included a 9,982-square-foot lease for nursing agency Senior Home Care and a 3,286-square-foot lease for Cognetic Capital Advisors. The renewals included a 46,682-square-foot lease by insurance broker Willis Towers Watson; a 17,728-square-foot lease by French banker Societe Generale; and an 8,974-square-foot lease by Trans-Continental Credit and Collection. Additionally, software company Nexant will relocate from the fourth floor to 5,951 square feet on the fifth floor. Argent Ventures is in the process of a multi-million-dollar capital improvement plan that will include an expanded and updated cafeteria, enhanced lobby finishes, parking garage renovations and elevator upgrades.

May 16, 2018

Acquisitions Multifamily Northeast Pennsylvania

Marcus & Millichap Brokers Sale of 15-Unit Apartment Portfolio in Fishtown

by David Cohen May 16, 2018

PHILADELPHIA — Marcus & Millichap has brokered the $1.5 million sale of a 15-unit apartment portfolio in the Fishtown neighborhood of Philadelphia. The sales price equates to approximately $100,000 per unit. The portfolio is located at 1417-1419 E. Columbia Ave. and 1243 E. Susquehanna Ave. Andrew Townsend, Clarke Talone, Joseph Sutow and Ridge MacLaren of Marcus & Millichap represented the undisclosed seller in the transaction, which had owned the properties for more than a decade. The buyer was a private real estate investment group and was also represented by Marcus & Millichap.

May 16, 2018

Newer Posts

Older Posts