Northeast

Forest City Ratner Cos. Opens 32-Story Residential Tower in Brooklyn

by Amy Works November 16, 2016

NEW YORK CITY — Forest City Ratner Cos. has opened 461 Dean, the world’s tallest modular tower and only modular residential high rise. Located at Greenland Forest City Partners’ Pacific Park Brooklyn, the 32-story high-rise tower features 363 rental apartments. Designed by SHoP Architects, the tower features 149 studios, 166 one-bedroom apartments and 48 two-bedroom apartments, with 23 original unit configurations. Unit prices for studios start at $2,450, one bedrooms start at $3,125 and two bedrooms start at $4,750. On-site amenities include a 24-hour doorman, modern fitness center, yoga and dance studio, sky lounge and rooftop terrace, game room, and children’s playroom as well as in-unit washers/dryers. The property, which is slated for LEED Silver certification, is the first residential building to open at the 22-acre Pacific Park Brooklyn mixed-use community. Pacific Park Brooklyn is being developed by a joint venture between Greenland USA and Forest City Ratner Cos., which is a wholly owned subsidiary of Forest City Realty Trust.

November 16, 2016

Loans Multifamily New Jersey Northeast Office Retail

HFF Arranges $59.5M in Financing for Two Properties in Manhattan

by Amy Works November 16, 2016

NEW YORK CITY — HFF has arranged two loans on behalf of Short Hills, N.J.-based Garden Homes Development for an office property and a residential property in Manhattan. The firm secured $38 million in financing for the office property totaling 103,389 rentable square feet at 13-15 W. 54th St. and 20 W. 55th St. in Midtown Manhattan and $21.5 million in financing for the six-story residential building with ground-floor retail at 194 E. Second St. in the East Village. Built in 1897, the office properties are two adjacent five-story mansions that were home to John D. Rockefeller and known as the Rockefeller Townhouses. Completed in 1997, the residential building features 8,465 square feet of ground-floor retail space and 61 luxury residential units. Andrew Scandalios and Geoff Goldstein of HFF arranged the financing for the borrower.

November 16, 2016

Northeast Pennsylvania Retail

QuickLiquidity Acquires Partnership Interest in $25M Neighborhood Shopping Center in Pittsburgh

by Amy Works November 16, 2016

PITTSBURGH — QuickLiquidity has purchased a partnership interest in a $25 million neighborhood shopping center in the Pittsburgh metropolitan area. The partnership owns a 275,000-square-foot retail property anchored by Giant Eagle. The property is more than 95 percent occupied by a variety of tenants, including Dollar General, PNC Bank, Chick-fil-A, Starbucks Coffee, MedExpress, Aaron’s and Mattress Firm. The name of the seller was not released.

November 16, 2016

Connecticut Multifamily Northeast Retail

Avison Young Facilitates $4.9M Sale of Retail, Residential Property in Darien, Connecticut

by Amy Works November 16, 2016

DARIEN, CONN. — Avison Young has closed the sale of a mixed-use residential and retail property located at 13 Grove St. in Darien. Day Street Development LLC sold the property to Blackshaw Chriscott LLC for $4.9 million. The 5,726-square-foot property features two ground-level retail spaces, occupied by Le Boudoir and Darien Butcher Shop, and three apartment units. Alison Luisi and Ted Stratigos of Avison Young arranged the deal.

November 16, 2016

Hospitality Northeast Pennsylvania

HREC Arranges Sale of La Quinta Inn & Suites in Pittsburgh

by Amy Works November 16, 2016

PITTSBURGH — HREC Investment Advisors has brokered the sale of La Quinta Inn & Suites Pittsburgh North McKnight, located at 4859 McKnight Road in Pittsburgh. Buffalo, N.Y.-based Hamister Group acquired the 145-room hotel for an undisclosed price. Ketan Patel and Ted Anka of HREC represented the seller in the transaction.

November 16, 2016