Thursday, June 5, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

Dock-Square-Garage-Boston
MassachusettsNortheastRetail

Fortis Property Group Buys Dock Square Garage in Boston for $170M

by Amy Works

BOSTON — Fortis Property Group has purchased Dock Square Garage, a parking garage and retail property located adjacent to Faneuil Hall in downtown Boston, for $170 million. The property features 698 parking spaces and 16,100 square feet of retail space, which is leased to Hard Rock Café. The asset also offers three to four stories of additional development potential. Robert Griffin, Edward Maher, Matthew Pullen and James Tribble of Newmark Knight Frank represented the seller, Dock Square Parking Associates, in the transaction.

Continue Reading
FacebookTwitterLinkedinEmail
Hilton-Garden-Inn-Portsmouth-NH
HospitalityNew HampshireNortheast

Chatham Lodging Purchases 131-Room Hilton Garden Inn in Portsmouth, New Hampshire

by Amy Works

PORTSMOUTH, N.H. — Chatham Lodging Trust has acquired Hilton Garden Inn Portsmouth Downtown for $43.5 million, or $332,000 per room. Located at 100 High St. in Portsmouth, the 131-room hotel opened in 2006 and recently underwent a full renovation. Island Hospitality Management will manage the hotel. The name of the seller was not released.

Continue Reading
FacebookTwitterLinkedinEmail
Hooper-Commons-Toms-River-NJ
New JerseyNortheastRetail

Unison Realty, ALTO Real Estate Acquire 120,349 SF Shopping Center in Toms River, New Jersey

by Amy Works

TOMS RIVER, N.J. — Unison Realty Partners and ALTO Real Estate Funds have acquired Commons at Hooper, a community shopping center located at 1350 Hooper Ave. in Toms River, for $21.1 million. Built in 1987, the 120.349-square-foot property is situated on 14.6 acres and has a pad site for future development. Michaels, DSW Shoe Warehouse, Dollar Tree, Mattress Firm, Dress Barn, The UPS Store, Avenue, Sally Beauty, Jersey Mike’s Subs and Citi Financial are tenants at the 86 percent-leased center. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF marketed the property with bidding procedures approved by the United States Bankruptcy Court for the Southern District of New York in the Chapter 11 case of AC I Toms River LLC.

Continue Reading
FacebookTwitterLinkedinEmail
604-Laurel-Ave-Point-Pleasant-Beach-NJ
New JerseyNortheastOffice

Marcus & Millichap Arranges $1.6M Sale of Office Building in New Jersey

by Amy Works

POINT PLEASANT BEACH, N.J. — Marcus & Millichap has brokered the sale of an office property located at 604 Laurel Ave. in Point Pleasant Beach. A private investor sold the property to an undisclosed buyer for $1.6 million. Provident Bank occupies the 3,000-square-foot building on a net-lease basis. Michael Lombardi and Greg Babaian of Marcus & Millichap represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
SoHo-Lofts-Jersey-City-NJ
MultifamilyNew JerseyNortheast

Manhattan Building Co. Develops 377-Unit Apartment Building in Jersey City

by Amy Works

JERSEY CITY, N.J. — Manhattan Building Co. is developing SoHo Lofts, a rental multifamily property located at 273 16th St. in Jersey City’s SoHo West district. Slated for delivery this October, the two-building property features 377 rental units housed in 13-story and 20-story towers, which are connected by a five-story podium. SoHo Lofts is the second phase of the larger SoHo West neighborhood concept that Manhattan Building Co. is developing. The first phase, The Cast Iron Lofts Collection, features 387 apartments and 20,000 square feet of retail space. SoHo Lofts will feature one-, two-, three- and four-bedroom apartments, as well as a limited number of private townhome rentals. On-site amenities include an infinity-edge pool, private cabanas, surround-sound media room, Zen garden, clubroom, attended lobby, arcade lounge, 10-person sauna and enclosed parking garage. City Homes and Gardens is directing the marketing program at SoHo Lofts, which has begun pre-leasing.

Continue Reading
FacebookTwitterLinkedinEmail
Cornerstone-Salem-NH
LoansMultifamilyNew HampshireNortheast

Cornerstone Realty Capital Arranges $37.7M Construction Loan for Apartment Community in New Hampshire

by Amy Works

SALEM, N.H. — Cornerstone Realty Capital has arranged $37.7 million in financing for The Dolben Co. for the development of an apartment community in Salem. The loan features an interest-only period during construction followed by a 30-year amortization schedule. The 256-unit apartment complex will consist of four residential buildings, a 5,500-square-foot clubhouse, outdoor swimming pool, grilling area and play area. Units will feature granite counters, kitchens with stainless steel appliances, in-unit laundry and a private balcony or patio. The community will feature a mix of studio, one-bedroom/one-bath units and two-bedroom/two-bath units ranging from 567 square feet to 1,088 square feet.

Continue Reading
FacebookTwitterLinkedinEmail
Park-Roselle-NJ
MultifamilyNew JerseyNortheast

David Lloyds Opens First Phase of PARK Residential Community in Roselle, New Jersey

by Amy Works

ROSELLE, N.J. — Developer David Lloyds has opened the first phase of PARK, a residential property located at 417 Raritan Road at the former Roselle Golf Club in Roselle. The first phase of the property includes a 9,000-square-foot clubhouse and 190 rental units, which are already 52 percent leased. The clubhouse features a state-of-the-art gym, pet spa, movie theater, billiards room, resort-style pool, outdoor entertainment area, dog park, bocce court and three-mile fitness trail. The one- and two-bedroom apartments feature granite countertops, in-unit washers/dryers, nine-foot ceilings, central air conditioning and gas heat, gas stoves and high-speed internet. Situated on 60 acres, PARK will be built in five phases over eight years and bring 932 apartment units to Roselle.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNew YorkNortheast

Westbeth Artists Housing Breaks Ground on $40M Renovation Project for Manhattan Multifamily Property

by Amy Works

NEW YORK CITY — Westbeth Artists Housing, the New York City Department of Housing Preservation and Development and the Community Preservation Corp. has broken ground on a $40 million renovation project for Westbeth Artists Housing, a multifamily property located in Manhattan’s Greenwich Village. Located at the former Bell Laboratories campus, the property features 384 affordable homes, as well as commercial spaces, for artists. The $40 million project will repair damages from Hurricane Sandy, including raising boilers above flood level; upgrading cellar windows and critical doorways to prevent flooding; and installing a new emergency generator, submersible domestic water pumps and submersible sump pumps. Additionally, the renovations will preserve the building’s historic status and remove lead paint and asbestos from the basement and outside surfaces. Funding for the project comes from federal Community Development Block Grant Disaster Recovery funds, administered by the HPD Multifamily Storm Recovery and Resiliency Program.

Continue Reading
FacebookTwitterLinkedinEmail
1429-Osgood-St-North-Andover-MA
IndustrialMassachusettsNortheast

SVN|Parsons Commercial Arranges Sale of 21,060 SF Industrial Building in North Andover, Massachusetts

by Amy Works

NORTH ANDOVER, MASS. — SVN|Parsons Commercial Group|Boston has brokered the sale of an industrial property located at 1429 Osgood St. in North Andover. School of Leadership-Afghanistan sold the property to Oliver Enterprises for an undisclosed price. The new owner, a full-service landscape design and construction company, will relocate to the 21,060-square-foot property from Woburn, Mass. Alex Berger and Matt Quinlan of SVN|Parsons Commercial represented the seller, while Steve Donahue of Donahue Associates represented the buyer in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
Mount-Vernon-Boston-MA
LoansMassachusettsMixed-UseMultifamilyNortheastRetail

Cornerstone Realty Capital Arranges $38.5M in Financing for Mixed-Use Development in Boston

by Amy Works

BOSTON — Cornerstone Realty Capital has arranged $38.5 million in financing for Mount Vernon Co.’s development of a mixed-use building, located at the intersection of Western Avenue and Leo M Birmingham Parkway in Boston’s Brighton neighborhood. Cornerstone secured the fixed-rate financing structure, including an interest-only period during construction followed by a 30-year amortization schedule. The six-story building will feature parking for 108 vehicles; three on-street retail spaces totaling 4,578 square feet; residential amenity space, including a rooftop multipurpose room and fitness center; storage for 132 bicycles; 115 market-rate apartments; and 17 affordable apartments. The unit mix includes 53 studios, 43 one-bedroom/one-bath units, 16 one-bedroom/one-bath units with a den and 20 two-bedroom/two-bath units. Ranging from 520 square feet to 906 square feet, the units will feature vinyl plank and tile flooring, Silestone countertops, tile backsplashes, stainless steel appliances and in-unit washers and dryers.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts