NEW YORK CITY — Besen & Associates has brokered the sale of an elevator-served mixed-use building located at 2195 Adam Clayton Powell Blvd. in Manhattan’s Central Harlem neighborhood. The asset sold for $2 million, or $347 per square foot. Built in 1910, the vacant five-story, 5,758-square-foot property features six apartments and one retail unit. Hilly Soleiman of Besen & Associates represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
WOODBRIDGE, N.J. — A joint venture partnership between Advance Realty and F. Greek Development has opened a refrigerated storage and distribution center in Woodbridge. The 190,000-square-foot facility is situated on 9.3 acres at 275 Blair Road. Preferred Freezer Services, a worldwide operator of temperature-controlled warehouses, has leased the built-to-suit facility. The property maintains temperatures between 0 and -5 degrees Fahrenheit, and features a 65-foot high warehouse ceiling and a 35-foot high dock ceiling. The building has a total storage capacity of 10 million cubic feet and can hold 40 million pounds of computer-managed inventory on 27,363 pallets.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a development property located at 515 E. 86th St. in the Upper East Side. The 22-foot wide development site, which is part of an assemblage, sold for $11.2 million. The property has approximately 22,150 buildable square feet as of right for a rental or condominium development. A four-story, 6,060-square-foot vacant building currently sits on the lot. Victor Sozio, Howard Raber, Shimon Shkury, Randy Modell and Jesse Deutch of Ariel Property Advisors represented the seller, a private investor, and procured the buyer, a private investor, in the transaction.
NEW YORK CITY — The Brodsky Organization has opened Enclave at the Cathedral, located at 400 W. 113th St. in Manhattan’s Morningside Heights, for leasing. Situated on the ground of The Cathedral of Saint John the Divine, the two-tower property features 430 residences in a mix of studio, one- and two-bedroom with rents ranging from $2,400 per month to $4,720 per month. On-site amenities include an indoor art gallery, game room, screening room, a café, fitness center, parking garage, two roof decks and landscaped terrace with outdoor television. The property was designed by Handel Architects.
BOGOTA, N.J. — Redwood Realty Advisors has arranged the sale of an apartment building located in Bogota. Landmark Development Co. sold the property to Real Estate Growth Advisors for $6.7 million. Built in 1962, the garden-style property features 48 apartment units. Michael Scrima, Matthew Sandelands, Kevin McCrann and Thomas McConnell of Redwood Realty Advisors brokered the transaction.
NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. A private investor acquired the property for $5.1 million. Built in 2007, the three-story property features 18 apartment units in a mix of studio, one-, two- and three-bedroom units; 6,000 square feet of retail spaces; and a 26-space gated parking lot. The property features a 421-A tax exemption in place, which expires in June 2023. Greg Corbin and Miguel Jauregui of Besen & Associates, along with former Besen broker Jacob Aronov, represented the seller and procured the buyer in the transaction.
FISHKILL, N.Y. — Hampshire Properties has acquired The Village at Merritt Park, a 360-unit multifamily property located at 80 Jefferson Blvd. in Fishkill, from TGM Associates for an undisclosed price. Situated on 41 acres, the property consists of 16 two-story residential buildings and resort-style amenities, including tennis and basketball courts, a 24-hour fitness center, movie theater, children’s playground and heated swimming pool. Andrew Merin, Karen Iman, David Bernhaut, Gary Gabriel, Brian Whitmer, Kyle Schmidt and Ryan Dowd of Cushman & Wakefield brokered the transaction.
NEW YORK CITY — Kinsey Capital has arranged the sale of a retail property located at 730 Lexington Ave. in Manhattan’s Midtown East neighborhood. An affiliate of Ashkenazy Acquisition Corp. acquired the 4,111-square-foot property from The Aldo Group for $18.5 million, or $4,500 per square foot. Brent Glodowski of Kinsey Capital was the sole broker in the transaction.
NEW YORK CITY — Love Funding has secured a $9.1 million loan for the refinancing of the Scheuer House of Coney Island, an affordable seniors housing property located in Brooklyn. Situated on 1.3 acres, the high-rise property features 197 age-restricted studio and one-bedroom apartments, 98 percent of which are Section 8 Units. Additionally, the property is within walking distance to the Coney Island boardwalk and amusement park. The borrower, JASA, will use the loan to renovate and upgrade the building. Planned enhancements include elevator upgrades, new kitchens, bathroom refurbishments, renovations of community common spaces and flood risk prevention measures. Laura Saull-Smith of Love Funding arranged the loan for the borrower through the U.S. Department of Housing and Urban Development’s 223(f) program.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a 50-foot wide vacant lot at 1655 Madison Ave. in Manhattan’s East Harlem neighborhood. The property sold for $7 million, or $391 per buildable square foot. The site is zoned R7-2/C1-5, which provides as-of-right approximately 17,887 buildable square feet for mixed-use development or 24,375 buildable square feet with the inclusion of a community facility bonus. Victor Sozio, Shimon Shkury, Michael Tortorici, Matthew Gillis and Josh Berkowitz of Ariel Property Advisors represented the seller, a private investor, while Michelle Abramov of Highcap Group represented the buyers, a private group of international investors, in the transaction.