WEST NEW YORK, N.J. — Redwood Realty Advisors has arranged the sale of an apartment building located on Dewey Avenue in West New York. LS Realty LLC acquired the five-story, walk-up building from Marin Blvd LLC for $4 million, or $135,833 per unit. The property features 30 apartment units. Steven Matovski and Saul Ramirez of Redwood Realty Advisors brokered the transaction.
LINDEN, N.J. — Bussel Realty Corp. has brokered the sale of an industrial property located at 2365 E. Linden Ave. in Linden. New York-based 2365 Linden Corp LLC acquired the property from Edward Cantor for $2.1 million. Situated on 2.1 acres, the building features 23,000 square feet of industrial space. Jordan Metz of Bussel Realty represented the buyer and seller in the deal.
NEW YORK CITY — KZA Realty Group has arranged the acquisition of a lot located at 972 Washington Ave. in the Bronx. Post Graduate Center for Mental Health acquired the property from Tammuz LLC for $3.4 million. The site features 79,000 square feet of buildable space and air rights from 962 Washington Ave. Kathy Zamechanksy of KZA Realty Group represented the buyer, while Ross Schneiderman of Friedland Realty Advisors represented the seller.
COLCHESTER, CONN. — Kennedy Funding Financial (KFF) has closed a $1.6 million loan for a 16-acre development site in Colchester. The two-year, interest-only funding was provided to Settlers Greene LLC, an affiliate of J Healy Builders LLC, and will be serviced by KFF. Situated at 312 Lebanon Ave., the property, known as Settlers Greene, is approved for a mixed-use residential and commercial condominium development. When complete, the 162,000-square-foot property will feature 43 townhouse units, 20 live/work units and four apartments. Kevin Wolfer of KFF arranged the financing for the borrower.
NEWARK, N.J. — Chicago-based Tucker Development has delivered 24 Jones, an apartment complex located adjacent to the new Springfield Avenue Marketplace in the University Heights neighborhood of Newark. The 152-unit property features a mix of studio, one- and two-bedroom apartment layouts. The units feature stainless steel appliances, hardwood floors and in-unit washers/dryers. On-site amenities include a modern fitness center, secured parking lot, 24-hour doorman and WiFi throughout the common areas.
NEWARK, N.J. — Rutgers University-Newark has partnered with RBH Group to develop a 400-bed learning and residence facility with dining, recreational and academic spaces in downtown Newark. The $70 million Honors Living-Learning Community will feature residences, classrooms/work spaces, street-level retail and parking, as well as open space for students and the surrounding community. Designed by Perkins Eastman, the 320,000-square-foot property will include 30,000 square feet of retail space. Construction is slated to begin late this year, with completion scheduled for 2018.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an office and retail building located at 243 Canal St. in Manhattan’s Chinatown neighborhood. The six-story building sold for $25 million, or $1,152 per square foot. The 21,700-square-foot property features two elevators, a full basement with 11-foot ceilings, a ground-floor retail unit and five floors of loft-style office space. Barbara Dansker, Steven Lusby and Zachary Ziskin of Marcus & Millichap represented the seller and procured the buyer. The names of the seller and buyer were not released.
SMITHTOWN, N.Y. — MIDI, an international medical research, design and engineering firm, has opened its new 6,500-square-foot headquarters and innovation center in the Village of The Branch, a part of Smithtown on Long Island. Stalco Construction served as general contractor for the new $5 million medical and life sciences facility, which is located at 226 E. Main St. Whitetop Mountain Professional Properties developed the17,300-square-foot building, which also houses a 10,800-square-foot diagnostic imaging center operated by Northwell Health, formerly North Shore-LIJ Health System. Featuring an open-space layout, the facility features a collaborative workspace, an engineering and design lab, a manufacturing shop, and a conference room with teleconferencing system, as well as executive and administrative offices.
NORWOOD, N.J. — NAI James E. Hanson has arranged the sale of an industrial building located at 380 Chestnut St. in Norwood. Pro Source Inc., a housewares distributor, acquired the 26,928-square-foot property for an undisclosed price. The buyer is relocating from Mahwah, N.J. The property features 17-foot clear ceiling heights, three tailgates, a drive-in door, 3,500 square feet of office space and ample parking. Steven Leitner of NAI Hanson represented the buyer, while Bill Pastuszak of Resource Realty represented the seller, 380 Chestnut Street LCC, in the deal.
SLEEPY HOLLOW, N.Y. — A joint venture between SunCal and Diversified Realty Advisors has broken ground on Edge-On-Hudson, a $1 billion development on the Hudson River in Sleepy Hollow, located approximately 20 miles upriver from New York City. The 70-acre project will contain 1,177 units of housing, 135,000 square feet of retail space, 30,000 square feet of office space and a 140-room boutique hotel, the first in Sleepy Hollow. The project will also feature 16 acres of open space and a waterfront promenade that links the existing Westchester County RiverWalk to the south and Kingsland Point Park to the north. Edge-On-Hudson is being built on the site of the former General Motors assembly plant. The space has been empty since the automotive manufacturer vacated in 1996. Phase I will include 306 units of housing, including 40 senior affordable units and 21 affordable workforce units. There will be 188 loft-style apartments in the four-story Loft District section at the eastern edge of the property, plus 46 three- and four-story condominium homes and 72 townhomes in the Central Park District. These neighborhoods will also include green space, a central park, a new roundabout and a village green at the base of Beekman …