CROMWELL, CONN. — O,R&L Commercial has arranged the sale of a two-property investment asset totaling 38,800 square feet at 50 Sebethe Drive in Cromwell. O&G Industries acquired the properties for $2.1 million. The sale includes a net-leased 28,800-square-foot warehouse and office building and an on-site 10,000-square-foot self-storage facility. Frank Hird and Luke Massirio of O,R&L Commercial represented the seller, Sebethe Drive Partners LLC, in the deal.
CARLE PLACE, N.Y. — TCJ Realty has acquired One Old Country Road, an office building located in Carle Place, from a private investor for $17.3 million. The five-story, 309,000-square-foot property serves as the headquarters for 1-800-Flowers and is 63 percent occupied by 27 tenants. Jacklene Chesler, Jonathan Schlussel and Darren Leiderman of Colliers International advised the seller and secured the buyer in the deal. Additionally, TCJ Realty appointed Colliers as leasing and managing agent for the property.
AUBURN, N.Y. — Binswanger has arranged the sale of an industrial facility located at 4900 Technology Park Blvd. in Auburn. AAF-McQuay Real Property Inc., a subsidiary of Daikin Applied, sold the property to Tessy Plastics for $8 million. Situated on 30.7 acres, the 435,000-square-foot facility features 50-foot by 50-foot column spacing, 35-foot clear ceiling heights, 11 dock-high loading doors and parking for more than 400 vehicles. Additionally, the facility features a 35,000-square-foot office space. Jim Panczykowski of Binswanger brokered the transaction.
BORDENTOWN, N.J. — Ready Capital Structured Finance has closed an $11 million loan for the acquisition of an industrial warehouse property located at 201 Elizabeth St. in Bordentown. The undisclosed borrower purchased the 275,631-square-foot property, which houses Bai soft drink distribution operations, for an undisclosed price. The property features 24-foot clear ceiling heights, 24-foot column spacing and easy access to the New Jersey Turnpike. The non-recourse, interest-only loan features a 36-month term with two extension options and flexible prepayment.
NEW YORK CITY — Marcus & Millichap has arranged the sale of two adjacent four-story multifamily buildings located at 2819-2821 33rd St. in the Astoria section of Queens. A private 1031 exchange investor acquired the buildings for $11 million, or $510 per square foot. The buildings offer a total of 38 apartment units. Matt Fotis, Lazarus Apostolidis and Zachary Golub of Marcus & Millichap represented the seller, a private investor, and procured the buyer in the deal.
NEW YORK CITY — Gracious Home has retained A&G Realty Partners to manage the sale of the lease of its 17,000-square-foot retail property in Manhattan’s Chelsea neighborhood. The retailer is selling the lease on the property due to its recent Chapter 11 bankruptcy filing. Located between Broadway and Sixth Avenue, the property features 8,500 square feet of street-level space and 8,500 square feet of lower level space.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a 13-buildng multifamily portfolio located in Manhattan’s Inwood section. A private real estate investor acquired the portfolio from the long-term private owner for $63.6 million. The portfolio consists of 13 five-story walk-up buildings located on Sherman, Post and Vermilyea avenues and Academy Street. The properties offer a total of two retail stores and 359 residential units in a mix of 93 one-bedroom, 210 two-bedroom, 51 three-bedroom and five superintendent units. Ron Solarz and Matthew Sparks of Eastern Consolidated represented the seller and procured the buyer. Gary Meese, also of Eastern Consolidated, was the analyst for the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of four buildings in Brooklyn. Robert Burton and Keegan Mehlhorn of Cushman & Wakefield represented the undisclosed seller in the transactions, which totaled $27.5 million. The portfolio includes 975 Washington Avenue, a 36,732-square-foot, 44-unit multifamily property that sold for $10.5 million; 762 E. Third Street, 32,000-square-foot, 42-unit multifamily building that sold for $8.5 million; 1812 East 18th Street, a 29,500-square-foot, 34-unit multifamily property that sold for $7.6 million; and a 2,133-square-foot industrial property located at 5614 Third Ave., which sold for $850,000. The names of the buyers were not released.
NEWINGTON, CONN. — Ebben Realty has purchased Stonegate Apartments in Newington for $6.8 million, or $114,166 per unit. The property features 20 one-bedroom units and 40 two-bedroom units ranging in size from 950 square feet to 1,043 square feet. Rick Chozick and Steve Pappas of Chozick Realty Brokers represented the seller, Rowaban Holdings, and procured the buyer in the transaction.
PENNSAUKEN, N.J. — Colliers International has brokered the sale of an industrial and office building located at 1700 Suckle Highway in Pennsauken. Edison Lithograph and Printing acquired the property for $4.2 million. The printing company plans to expand its operations at the 114,000-square-foot facility. Situated on 7.7 acres, the building features 18-foot clear heights, tailgate and drive-in loading, abundant parking, heavy power and highway frontage on Route 130. The seller, Hill-Rom, is relocating to a renovated facility in Moorestown, N.J. Marc Isdaner of Colliers represented the seller, while Scott Mertz of NAI Mertz Corp. represented the buyer in the deal.
