NEW YORK CITY — Marcus & Millichap has negotiated the $2.5 million sale of a 4,955-square-foot retail property in Pittsburgh. Located at 145 McMurray Road, current tenants include Dunkin Donuts, Baskin Robbins and TOSS Pizza. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was an individual/personal trust. The property was constructed in 2016.
CRANFORD, N.J. — The Goldstein Group has arranged the $2.1 million sale of an industrial property in Cranford. The 1.8-acre property is located at 370 North Ave. E. and includes a vacant, 52,512-square-foot building that was built in 1955. Alan Goldstein of The Goldstein Group represented the buyer, Tulfra Real Estate, in the transaction. The seller was undisclosed.
BAYONNE AND RARITAN, N.J. —Madison Realty Capital has provided $258 million in construction financing for a 1,161-unit multifamily development portfolio in Bayonne and Raritan. The portfolio consists of three large-scale, shovel-ready development sites. The financing will be used to complete site acquisitions and for the construction of all three projects. Jack Klugmann’s Accurate Builders and Developers of New Jersey owns the portfolio. Shaya Ackerman of Meridian Capital arranged the financing. Terms of the financing were not disclosed. “We’re financing three major transit-oriented development sites located in different towns, so clearly there are many moving parts,” says Josh Zegen, managing principal of Madison Realty Capital. “These are prime sites in communities with strong apartment demand based on demographics and transportation connections, and we believe they have great prospects for success.” Harbor Station South in Bayonne will consist of 651 units spread over two buildings. The project is located near the 34th Street Station of the Hudson-Bergen Light Rail system, which provides connections to New York City. A ferry station is also being planned in the vicinity with service to Manhattan and Staten Island. Amenities will include a rooftop pool overlooking the Hudson River, concierge service, a pet center, and a bike …
NEW YORK CITY — Naftali Credit Partners has secured a $50 million construction loan for 145 Central Park North in Manhattan’s Harlem neighborhood. The 13-story condominium project will feature 37 units. Amenities will include a 24-hour doorman, 10 parking spaces, multiple roof terraces, storage and bicycle rooms and a fitness center. Naftali secured financing for an undisclosed borrower through lender Israel Discount Bank. Architectural firm Gluck+ is designing the building.
DARIEN, CONN. — Brokers+Engineers has arranged the $6.9 million sale of a retail property in Darien. Located at 55 Boston Post Road, the 4,380-square-foot property is currently leased to TD Bank. Brokers+Engineers represented the seller, Chimblo Family Real Estate, in the transaction. The buyer acquired the property as part of a 1031 exchange. TD Bank has seven years remaining on its current lease.
ENFIELD, CONN. — Katz Properties has acquired Freshwater-Stateline Plaza, a 300,588 square foot Costco-anchored shopping center in Enfield. The sales price was undisclosed. Located at 130 Elm St., the property is 96 percent occupied by a 136,000-square-foot Costco, a 50,000-square-foot Dick’s Sporting Goods and a Home Depot. The shopping center was built in in 1972. Enfield is approximately 20 miles north of Hartford.
ROSLYN, N.Y. — Margules Properties has sold an 18,000-square-foot retail building in Roslyn for $4.2 million. Located at 299 Warner Ave., the property is home to 11 retail stores, including Village Pizza, a dry cleaner and a Chinese restaurant. The buyer was Ofer Cohen, a partner in two New York City bars, Café Wha and the Groove in Greenwich Village. Roslyn is approximately 24 miles northeast of Manhattan.
PITTSBURGH — Marcus & Millichap has negotiated the $1 million sale of a 1,900-square-foot retail building in Pittsburgh. The property, which is located at 2065 Ardmore Blvd., is currently occupied by Dunkin’ Donuts through a 15-year triple net lease agreement. Alan Cafiero and Ben Sgambati of Marcus & Millichap represented the seller, limited liability company, in the transaction. The buyer was a private investor.
WALTHAM, MASS. — New York Life Real Estate Investors has provided a $96 million refinancing for The Merc at Moody & Main, a 269-unit multifamily complex with street-level retail in Waltham. Located at 45 Moody St., a Roche Brothers’ Brothers Marketplace anchors the property. NYLREI provided a 12-year, fixed-rate loan to the borrower, Northland Investment Corp.
REVERE, MASS. — KeyBank has provided a $63 million refinancing for Beach House, a 234-unit apartment community in Revere. The Fannie Mae loan was used to refinance an existing KeyBank construction loan. The borrower, Baystone Development, built the seven-story property in 2018. The financing includes a 10-year term with a five-year interest-only period on a 30-year amortization schedule.