Northeast

CBRE Secures $51M in Acquisition Financing for 209-Unit Apartment Building in Stamford, Connecticut

by Amy Works February 27, 2017

STAMFORD, CONN. — CBRE has secured $51 million in financing for the acquisition of 66 Summer Street, an apartment building located in Stamford. The borrower was KC Summer Street Owner LLC, a joint venture between The Kabr Group and Ceruzzi Properties. Freddie Mac provided the eight-year, fixed-rate loan with full funding based on pro forma, as the property is still in its lease-up period. The newly constructed property features 209 luxury apartment units. Mark Fisher, Jason Gaccione, Alex Furnay, Irene Lu and Michael Ricco of CBRE facilitated the loan for the borrower, while CBRE Capital Market’s Investment Sales team represented the seller in the deal.

February 27, 2017

Connecticut Loans Multifamily Northeast

Eastern Union Funding Arranges $35.9M in Refinancing for Three Multifamily Properties in Connecticut

by Amy Works February 27, 2017

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.

February 27, 2017

Multifamily New York Northeast

New York Residence Inc. Facilitates Purchase of 31,000 SF Multifamily Building in Manhattan

by Amy Works February 27, 2017

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.

February 27, 2017

Multifamily New York Northeast

Rosewood Realty Group Negotiates $10.2M Sale of Multifamily Portfolio in Brooklyn

by Amy Works February 27, 2017

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.

February 27, 2017

New Jersey Northeast Retail

Marcus & Millichap Brokers $2.4M Sale of Retail Property in Edison, New Jersey

by Amy Works February 27, 2017

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.

February 27, 2017

New York Northeast Office

Zar Property NY Acquires Loft Office Building in Midtown Manhattan for $83.1M

by Amy Works February 24, 2017

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.

February 24, 2017

Civic New Hampshire Northeast

Eckman Construction Completes Fire and Rescue Station in Milton, New Hampshire

by Amy Works February 24, 2017

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.

February 24, 2017

Northeast Pennsylvania Retail

CBRE Arranges $7.2M Sale of Retail Property in Lansdale, Pennsylvania

by Amy Works February 24, 2017

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.

February 24, 2017

Multifamily New Jersey Northeast Seniors Housing

Hammond Hanlon Camp Arranges Sale of Seniors Housing Community in New Jersey

by Amy Works February 24, 2017

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.

February 24, 2017

Industrial New Jersey Northeast

Marcus & Millichap Negotiates $7M Sale of Industrial Building in Little Ferry, New Jersey

by Amy Works February 24, 2017

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.

February 24, 2017

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