WINDSOR, NEWINGTON AND BLOOMFIELD, CONN. — Eastern Union Funding has arranged three loans totaling $35.9 million to refinance three multifamily properties in Connecticut. The borrower was a New York-based private investment firm. Totaling 369 units, the properties are Williamsburg Apartments, 250 Bloomfield Ave. in Windsor; Northwood Apartments, 215 Lowrey Place in Newington; and Manor House Apartments, 14-2 Revere Drive in Bloomfield. Customers Bank provided the financing.
NEW YORK CITY — New York Residence Inc. has brokered the purchase of a multifamily and retail building located at 165-167 Williams St. in downtown Manhattan. A private European equity fund acquired the 31,000-square-foot property from an investor group led by Eli Tabak of Bluestone Group for an undisclosed price. Originally built in 1907 as an office building, the 10-story building features ground-floor retail space, leased to Downtown Pharmacy, and 12 apartments on the upper floors. Thomas Guss and Saul Lalic of New York Residence Inc. represented the buyer, while Victor Sozio and Jesse Greshin of Ariel Property Advisors represented the seller in the transaction.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a portfolio of four contiguous multifamily buildings in Brooklyn’s Bedford-Stuyvesant neighborhood. 242-248 Bainbridge Partners acquired the portfolio from 242-248 Bainbridge Residences LLC for $10.2 million. Totaling 29,200 square feet, the properties offer 32 apartments, including 18 rent-stabilized units and 14 market-rate units. Michael Guttman of Rosewood represented the buyer and seller in the deal.
EDISON, N.J. — Marcus & Millichap has arranged the sale of Galleria 27, a retail property located in Edison. A private investor acquired the property for $2.4 million. Michael Lombardi and Alexander Pildes of Marcus & Millichap represented the seller, a private investor, and the buyer in the all-cash transaction.
NEW YORK CITY — Zar Property NY has acquired a 145,170-square-foot office building located at 250 W. 54th St. in Midtown Manhattan. Ascot Properties Limited Partnership sold the property for $83.1 million. Paul Davidson, Roy Lapidus and Chip Parker of Newmark Grubb Knight Frank represented the seller in the deal.
MILTON, N.H. — Eckman Construction has completed the construction of Herbert Downs Fire-EMS Station, located at 865 White Mountain Highway in Milton. The 9,000-square-foot facility features four apparatus bays, training areas, turnout gear space, offices, two dorms and a new dispatch center. Cowan Goudreau Architects provided design services for the project, which finished ahead of schedule and under budget.
LANSDALE, PA — CBRE has brokered the sale of Tollgate Commons, a retail property located at 1650 Sumneytown Pike in Lansdale. A local developer sold the property to an undisclosed buyer for $7.2 million. At the time of sale, the 21,293-square-foot multi-tenant retail center was fully occupied. Matthew Gorman and Michael Shover of CBRE represented the seller, while Keller Williams Commercial represented the buyer in deal.
CHERRY HILL, N.J. — Hammond Hanlon Camp LLC, a healthcare-focused investment banking firm, has arranged the sale of Cadbury at Cherry Hill, a continuing care retirement community in the Philadelphia suburb of Cherry Hill. Premier Healthcare Management bought the property, which features 138 independent living units, 64 assisted living units and 108 skilled nursing beds.
LITTLE FERRY, N.J. — Marcus & Millichap has arranged the sale of an industrial property located at 100-120 Industrial Ave. in Little Ferry. A private investor sold the property for $7 million. Robert Filley, Steve Mariani and Daniel Farley of Marcus & Millichap represented the seller in the transaction. The name of the buyer was not released.
BELLPORT, N.Y. — A joint venture between Pantzer Properties Inc. and Savanna has sold Atlantic Point Apartments in Bellport, on Long Island, for $208 million. The 795-unit apartment community is located at 1220 Orchid Circle. The community was built in two phases in 2003 and 2004. Situated on 115 acres, the property comprises 137 two-story buildings totaling 183 one-bedroom, 346 two-bedroom and 266 three-bedroom apartment units. The units average 1,133 square feet. Amenities include outdoor swimming pools, tennis courts, and a two-story clubhouse with a fitness center, locker rooms, half-court basketball court, media room, business center, community room and kitchen/bar area. The property was 96 percent leased at the time of sale. Jose Cruz, Kevin O’Hearn, Michael Oliver and Stephen Simonelli of HFF represented the seller in the deal. The buyer was not disclosed. Pantzer Properties is an East Coast-based apartment owner with nearly $3 billion in real estate assets. Savanna, a real estate investment manager and institutional fiduciary based in New York City, focuses on property investments throughout the city’s five boroughs. Since 2006, the company has invested over $3 billion in properties totaling nearly 14 million square feet. —Kristin Hiller and Amy Works
