NEW HAVEN, CONN. — O,R&L Commercial LLC has negotiated the sale of an office building and adjacent parking lot, located at 189-191, 201 Orange St. and 115 Court St. in New Haven. The investment properties sold for $2.6 million. Frank Hird of O,R&L Commercial represented the seller, O’Keefe Associates, Manhattan Associates and Euclid/O’Connor Associates, while Charlotte Goldblatt of Goldblatt Associates represented the buyer, Bulkhead Investments LLC.
WEEHAWKEN, N.J. — Roseland, a subsidiary of Mack-Cali Realty Corp., is developing two dual-branded Marriott hotels at Port Imperial, the company’s $3 billion mixed-use, master-planned waterfront development in Weehawken. Roseland and its partner, XSS Hotels, secured approximately $94 million in financing for a syndicated construction loan led by Fifth Third Bank, with additional syndicated lending institutions, including Santandar and Investors Savings Bank. Featuring a 210-key Renaissance hotel and a 154-key Residence Inn, the project will feature meeting and function space for 450 guests and a 15,000-square-foot deck off the sixth floor sky lobby offering views of Manhattan. The two hotels will be built on top of the 850-space Port Imperial parking garage with 17,000 square feet of ground-level retail space next to the New York Waterway ferry terminal. Expected to create more than 100 permanent full-time jobs, the hotels are slated for completion by the end of 2017.
BRYN MAWR, PA. — Duke Realty plans to develop a 100,300-square-foot medical office building (MOB) for Main Line Health at its Bryn Mawr Hospital campus. Located at 130 Bryn Mawr Ave. in Bryn Mawr, the four-story building is estimated to cost $35 million. The property will house a 24,000-square-foot ambulatory surgery center, 13,000 square feet of primary care services and 10,000 square feet of auxiliary space to meet Main Line’s future needs. Development will begin in February 2016, and completion is slated for February 2017. The building will be owned by Duke Realty Bryn Mawr Development LLC. The Philadelphia office of Francis Cauffman is serving as architect and Health Sciences Construction Group is serving as general contractor for the project.
NEW YORK CITY — Bottom Line Construction & Development LLC has broken ground for Baldwin Park, a boutique residential building at 306 W. 148th St. in West Harlem. The six-story property will feature six floor-through condominiums featuring two bedrooms, two baths, balconies and stainless steel appliances, as well as a rooftop deck. APEX Building Group is serving as general contractor, while financing was provided by 100 Miles Fund managed by Procida Funding & Advisors. The property is slated for a summer 2017 occupancy.
HANOVER, PA — Colliers International’s Harrisburg, Pa., office has brokered the sale of Centennial Commons Shopping Center in Hanover. Located at 3744-80 Centennial Road, the 48,220-square-foot property sold for $4.4 million. The property is occupied by Food Lion, Dollar General and Subway. William Aiello, George Lulos and Larry Kostelac of Colliers represented the seller, Conewago Contractors Inc., in the transaction. The buyer was Becrett LLC.
PLAINSBORO, N.J. — HFF has arranged the sale of The Crest at Princeton Meadows, a 704-unit, garden-style apartment community located at 3217 Ravens Crest Dr. in Plainsboro. A joint venture between Harbor Group International and Azure Partners acquired the property for an undisclosed price. Situated on 40 acres, the property consists of 37 two- and three-story residential buildings housing one- and two-bedroom units averaging 830 square feet each. Community amenities include an outdoor swimming pool with sundeck, barbecue grills, tennis courts, volleyball court, putting green and playground. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli and Andrew Scandalios of HFF represented the undisclosed seller in the transaction.
NEW YORK CITY — Onex Real Estate Partners has launched sales for Grand Two, the second building within The Grand at Sky View Parc in Flushing, Queens. Currently under construction, the 258-condo Grand Two is the second phase of the three buildings that will comprise The Grand at Sky View Parc. Designed by Peter Clewes and architectsAlliance, the residential units feature top-of-the-line finishes, floor-to-ceiling windows, balconies, washers/dryers, stainless steel Bosch appliances, quartz countertops and spa-like bathrooms. The property will feature a mix of studios, one-, two- and three-bedroom condos, ranging in size from 470 to 2,050 square feet with pricing ranging from $493,000 to more than $2 million. Upon build out, the development will bring a total of 750 additional homes and amenities to the mixed-use development. On-site amenities will include a 24-hour staffed lobby and concierge, a five-acre landscaped rooftop garden, and basketball court and tennis courts. During its opening weekend, Grand Two made $85 million in condominium sales.
MEDFORD AND BURLINGTON, MASS. — The Davis Companies has selected Margulies Perruzzi Architects to revitalize and reposition two office building properties. The architectural and interior design firm will upgrade the main entrance, lobby and common areas of One Cabot Road in Medford and One Burlington Business Center in Burlington. Constructed in 1989, One Cabot Road is a 400,000-square-foot office building featuring a full-service cafeteria, fitness facility, abundant power and emergency systems and a generous parking ratio, including 170 executive spaces inside the building. The property is currently 94 percent leased, with approximately 30,000 square feet available and 130,000 square feet becoming available in 2017. One Burlington Business Center is a four-story, 176,000-square-foot office building located adjacent to the Lahey Hospital and Medical Center. The building is occupied by Lahey Hospital and Medical Center and Silverink Communications, among others.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a five-story, mixed-use property located at 61 Sullivan St. in SoHo. The Estate of Leo Rabkin sold the building for $8 million, or $1,470 per square foot, to a private investor experienced in townhouse conversions. The property consists of 5,474 square feet above grade; four floor-through, free-market residential rental apartments; ground-floor retail space; a 500-square-foot private garden; and 3,000 square feet of unused development rights. R. Stuart Gross, Peter Carillo and Jonathan Schwartz of Eastern Consolidated represented the seller, while Azita Aghravi, also of Eastern Consolidated, represented the buyer in the transaction. Chris Matousek of Eastern Consolidated served as analyst on the deal.
WESTPORT, CONN. — Coastal Construction Group LLC has acquired a mixed-use property located at 785 Post Road East in Westport. Situated on 2.5 acres, the 5,000-square-foot property sold for $1.2 million. The buyer plans to use the building for additional office space. Jon Angel of Angel Commercial represented the seller, George Essenfeld Trustee and Lewis Meriwether, in the transaction.
