Northeast

CBRE Facilitates $97M Sale of Two Office Buildings in Stamford, Connecticut

by Amy Works August 8, 2017

STAMFORD, CONN. — CBRE has arranged the sale of Stamford Towers, a two-building office property located in Stamford’s central business district. SL Green and TH Real Estate sold the property to CBRE Global Investors for $97 million. Tenants at the Class A property include Citigroup, UBS Financial Services, H/2 Credit Manager, Titan Advisors, Gerald Metals, Bank of Ireland, Oaktree Capital, Oppenheimer, CoreCommodity and Newmark. Jeffery Dunne, David Gavin and Travis Langer of CBRE Institutional Properties represented the sellers in the transaction.

August 8, 2017

New Jersey Northeast Office

Rialto Capital Sells 212,666 SF Office Property in Secaucus, New Jersey, for $21M

by Amy Works August 8, 2017

SECAUCUS, N.J. — Rialto Capital has completed the sale of 150 and 200 Meadowlands Parkway, two office buildings in Secaucus. Alma Realty acquired the buildings for $21 million. Totaling 212,666 square feet, the two buildings were 77 percent leased at the time of sale. Current tenants include Schiavone Construction, Ashley Stewart, Cory 1st Choice Home Delivery and Image Processing Systems, a data center for VXchange and Frontage Laboratories. Jeffrey Dunne, Jeremy Neuer and Geoffrey Schubert of CBRE represented the seller in the deal.

August 8, 2017

Multifamily New Jersey Northeast

Joint Venture Breaks Ground on Condo Project in Hoboken, New Jersey

by Amy Works August 8, 2017

HOBOKEN, N.J. — 722 Jefferson St LLC, a joint venture between Derby Consulting and Crimson Capital, has broken ground for a condominium project located at 722 Jefferson St. in Hoboken. The five-story building will feature 15 residences in two- and three-bedroom layouts with deeded parking spaces; 2,000 square feet of courtyard space; two private rear yards and three private 930-square-foot roof decks. Minervini Vandermark is serving as architect and Fields Construction Co. is serving as construction manager and general contractor for the project, which is slated for completion by spring 2018.

August 8, 2017

Multifamily New York Northeast

TerraCRG Brokers $14.5M Sale of Residential Development Site in Brooklyn

by Amy Works August 8, 2017

NEW YORK CITY — TerraCRG has arranged the sale of a residential development site located at 172 Montrose Ave. in Brooklyn’s East Williamsburg neighborhood. An undisclosed buyer acquired the 17,000-square-foot site for $14.5 million. The site is zoned for 51,000 buildable square feet of residential space. Ofer Cohen, Dan Marks, Nicole Rabinowitsch and Mike Hernandez of TerraCRG brokered the transaction. The name of the buyer was not released.

August 8, 2017

Industrial New Jersey Northeast

Saddleback Real Estate Developers Acquires Industrial Building in Fairfield, New Jersey

by Amy Works August 8, 2017

FAIRFIELD, N.J. — Saddleback Real Estate Developers has purchased an industrial building located at 8 Kulick Road in Fairfield. The 23,200-square-foot property sold for an undisclosed price. Saddleback Real Estate plans to continue to expand its portfolio in New Jersey. The name of the seller was not released.

August 8, 2017

Loans Multifamily New York Northeast

Madison Realty Provides $300M Construction Loan for Mixed-Use Tower in Manhattan

by Amy Works August 7, 2017

NEW YORK CITY — Madison Realty Capital has provided a $300 million construction loan for the development of a mixed-use project at 138 E. 50th St. in the Midtown East section of Manhattan. Developed by Ceruzzi Properties and SMI USA, the 72-story tower will feature 124 residential condominium units, 7,500 square feet of retail space and a 25-space parking garage. The residential units will include a mix of efficient one- to five-bedroom units, ranging from 777 square feet to 5,388 square feet. Amenities will include an indoor pool and spa, fitness center and shared work areas. Pelli Clarke Pelli Architects designed the tower’s façade, SLCE is the architect of record and AECOM/Tishman Construction is serving as general contractor. Topout is expected in November, with condominiums coming online in late 2018.

August 7, 2017

Multifamily New York Northeast

Sugar Hill Capital Partners Acquires Apartment Building in Manhattan for $41M

by Amy Works August 7, 2017

NEW YORK CITY — Sugar Hill Capital Partners has purchased a six-story multifamily building located at 200 Haven Ave. in Manhattan’s Washington Heights neighborhood. Rudd Realty Management sold the property for $41 million, or $328.55 per square foot. The 125,789-square-foot building features 95 apartment units, an indoor parking garage for 50 vehicles, laundry facilities and storage. Lazer Sternhell, Peter Vanderpool and Elan Teichman of Cignature Realty represented the buyer and seller in the deal.

August 7, 2017

Industrial Northeast Pennsylvania Retail

Hinerfield Commercial Arranges Sale of 51,000 SF Warehouse Building in Hazelton, Pennsylvania

by Amy Works August 7, 2017

HAZELTON, PA. — Hinerfield Commercial has brokered the sale of a showroom and warehouse facility located at 485 Susquehanna Blvd. in Hazelton. Bradley International acquired the 51,000-square-foot property for an undisclosed price. The building is occupied by Nathan’s Furniture Store, which originally purchased the property in 1983. Griff Keefer and John Cognetti of Hinerfield Commercial handled the sale negotiations.

August 7, 2017

Multifamily New York Northeast

Cushman & Wakefield Negotiates $26.7M Sale of Residential Property in Manhattan

by Amy Works August 7, 2017

NEW YORK CITY — Cushman & Wakefield has arranged the sale of the residential portion of 1 Coesnties Slip, as known as 66 Pearl Street, in Manhattan. An undisclosed buyer acquired the six-building multifamily asset for $26.7 million. Totaling 32,843 square feet, the property features 42 residential units. The property’s 34 free-market apartments recently underwent an extensive renovation and upgrade program. Bob Knakal, Will Suarez, Jonathan Hageman, George D’Ambrosio, Maurice Suede and Sean Rucker of Cushman & Wakefield represented the undisclosed seller in the deal.

August 7, 2017

Industrial Massachusetts Northeast

Kelleher & Sadowsky Brokers Sale of 40,754 SF Industrial Space in East Brookfield, Massachusetts

by Amy Works August 7, 2017

EAST BROOKFIELD, MASS. — Kelleher & Sadowsky has arranged the sale of an industrial space located at 545-555 E. Main St. in East Brookfield. The undisclosed buyer plans to convert the 40,754-square-foot former Howe Lumber facility into a micro-brewery under the Timberyard Brewing brand. Paul Matt of Kelleher & Sadowsky brokered the sale. The name of the seller and acquisition price were not released.

August 7, 2017

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