NEW YORK CITY — Hodges Ward Elliott has arranged a $69 million loan on behalf of an institutional real estate investment firm for the refinancing of an office building. The property is located at 31 W. 27th St. in Manhattan’s Midtown South neighborhood. The 12-story, loft-style building offers 144,000 square feet of office space. The funding, which was provided by TD Bank, will allow the owner to complete its strategic business plan for the property, which was recently repositioned.
NEW YORK CITY — Besen & Associates has arranged the sale of a residential building located at 3873 Orloff Ave. in the Van Cortlandt Village neighborhood of the Bronx. A private investor sold the asset to an undisclosed buyer for $19.2 million, or $203 per square foot. Built in 1964, the 93,767-square-foot property features 90 apartments and a 56-car garage. Additionally, the building is serviced by two elevators. Amit Doshi and Lynda Blumberg of Besen & Associates handled the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a retail condominium located at 37 Warren St., also known as 136 Church St., in Manhattan’s Tribeca neighborhood. HUBB NYC Properties acquired the corner property for $11.2 million, or $3,934 per square foot, in an all-cash transaction. The property features 2,847 square feet on the ground level and 1,364 square feet on the lower-level space. The property was vacant at the time of sale. Will Suarez of Cushman & Wakefield arranged the transaction.
FRANKLIN, MASS. — Faris Lee Investments has brokered the sale of Franklin Shops, a newly developed retail property located at 648 Old W. Central St. in Franklin. A private investor acquired the property from a private developer for $6.6 million. Starbucks Coffee, Noodles Co. and MedPost Urgent Care occupy the 8,911-square-foot property, which was completed in 2015. All three tenants have new, 10-year net leases in place. Matthew Mousavi and Patrick Luthre of Faris Lee Investments represented the seller in the transaction.
NEW YORK CITY — Marcus & Millichap has negotiated the sale of an apartment building located at 231 N. Henry St. in Brooklyn’s Greenpoint neighborhood. The six-unit property sold for $3 million. The buyer, a limited liability company, plans to reposition the property, which is one of the largest brick six-family buildings in the neighborhood. Shaun Riney, James Saros and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a limited liability company, and secured and represented the buyer, a limited liability company, in the transaction.
BRUNSWICK, MAINE — Katz Properties has acquired Cook’s Corner Shopping Center, a 302,000-square-foot shopping center in Brunswick, for $13.2 million. Situated on 32.5 acres, the property is occupied by a diverse tenant mix including Sears, Regal Cinema, Big Lots, TJ Maxx, Staples, Dollar Tree, Applebee’s, Dunkin’ Donuts and Five Guys Burgers & Fries. At the time of sale, the property was 84 percent occupied. Acquisition financing was provided by Blue Hills Bank of Massachusetts and arranged by Tim Breda and Peter Kenn of Goedecke & Co. Geoffrey Millerd and Justin Smith of Newmark Grubb Knight Frank represented the undisclosed seller in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of the residential condominium portion of 92 Pinehurst Ave. in Manhattan’s Hudson Heights neighborhood. Pinehurst Partners LP sold the residential portion of the property for $25.5 million, or $350 per square foot. The residential portion of the elevator-serviced, 72-unit building contains 72,896 square feet above grade of which the usable residential area is approximately 60,000 square feet. James Nelson and Mitchell Levine of Cushman & Wakefield handled the transaction.
SUNNYSIDE, N.Y. — Marcus & Millichap has arranged the sale of Sunnyside Gardens, an apartment building located at 41-05 Skillman Ave. in Sunnyside. A limited liability company acquired the 16-unit apartment building for $4.3 million. Shaun Riney and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a limited liability company, in the transaction.
AVON, CONN. — E.N.E. Realty Associates has acquired an office building located at 172 W. Main St. in Avon. Avonwood Enterprises LLC sold the 10,318-square-foot property for an undisclosed sum. The multi-tenant investment property was 100 percent occupied at the time of sale. The main tenant is Berkshire Hathaway HomeServices New England Properties. Gayle Erickson and Bruce Cagenello of Berkshire Hathaway HomeServices were the sole brokers in the transaction.
WATERBURY, CONN. — Great American Aquaculture has signed a long-term lease for 54,426 square feet of industrial space at 64 Avenue of Industry in Waterbury. The 66,400-square-foot building is situated on 10.3 acres. Sentry Commercial, in association with Hartford Group International, represented the landlord, 64 AOI LLC, while Colonial Realty represented the tenant in the transaction.