NEW YORK CITY — Tavros Development Partners, in partnership with Charney Construction & Development and 1 Oak Development, has acquired a development site located at 263-277 S. Fifth St. in Brooklyn’s Williamsburg neighborhood. The Dime Savings Bank of Williamsburgh sold the property for $80 million. The development offering consists of a combined four properties (263-277 S. 5th St., 262-272 S. 4th St. and 205 Havemeyer St.) and allows for a buildable envelope of approximately 230,000 square feet. The property’s zoning designation permits both mixed-use and commercial development. James Nelson, Brendan Maddigan and Matt Nickerson of Cushman & Wakefield represented the seller in the transaction.
NEWTON, MASS. — A joint venture between Angelo Gordon & Co. and Jumbo Capital Management has acquired two office buildings, located at 7-57 and 75-85-95 Wells Ave. in Newton, a suburb eight miles west of Boston, for $62.3 million. The properties total 332,194 square feet. Coleman Benedict and Ben Sayles of HFF represented the undisclosed seller and buyer in the sale. Additionally, HFF worked on behalf of the new owner to secure a five-year, fixed-rate first mortgage financing for $47.1 million, which included funds for the acquisition and a facility for future tenanting and capital costs. Lauren O’Neil and Brett Paulsrud of HFF arranged the financing for the borrower, while Mike Terry and Jonpaul Sallese, also of HFF, represented East Boston Savings Bank in the mortgage transaction.
ROCKLEIGH, N.J. — CBRE Group Inc. has arranged the sale of an office/life science building located at 8 King Road in Rockleigh. Marcus Partners, on behalf of its Marcus Capital Partners Fund I sold the property to Charter Realty Group for an undisclosed sum in a 1031 exchange. The 204,495-square-foot building is 100 percent net leased to Spectra Laboratories on a long-term basis and guaranteed by its parent company, Fresenius Medical Care Holdings Inc. The facility serves as Spectra’s mission critical testing facility for the eastern half of the United States. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Lee Asher and Chris Bodnar of CBRE represented the seller and procured the buyer in the transaction.
HOBOKEN, N.J. — Jet.com has agreed to expand its headquarters at Waterfront Corporate Center III in Hoboken. The e-commerce startup will commence its build out of the space that will double the size of its corporate office by an additional 40,000 square feet for a total of 80,000 square feet. SJP Properties in partnership with USAA Real Estate Co. developed the three-building, 1.5 million-square-foot mixed-use development. Launched in 2015, Jet.com is an e-commerce venture led by Marc Lore, former CEO and co-founder of Diapers.com and parent company Quidsi. Scott Peck and Brian Wilson of Resource Realty represented Jet.com, while Peter Bronsnick provided in-house representation for the landlord, SJP Properties, in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged $83.8 million in total financing for Cape Advisors for the construction of a retail and residential condominium project in Tribeca. The financing package consists of a $19 million mezzanine loan from Terra Capital Partners behind a $64.8 million first mortgage from Bank of the Ozarks. Located at 30 Warren St., the 12-story, 65,700-square-foot property will feature 23 apartments in one-, two- and three-bedroom layouts, and 10,858 square feet of retail space. On-site residential amenities include a fitness center, attended lobby, children’s playroom and storage. Adam Hakim, Sam Zabala and James Murad of Eastern Consolidated represented the developer and borrower in the transaction.
NEW YORK CITY — Meridian Capital Group has arranged $46.5 million in acquisition financing for Sugar Hill Capital Partners for the purchase of six contiguous multifamily properties located at 471-476 Central Park West in New York. The three-year loan, which was provided by a mortgage REIT, features a floating rate and interest-only payment for the full term. The semi-vacant multifamily properties total 125 units. Ronnie Levine and Shamir Seidman of Meridian Capital Group negotiated the financing for the borrower.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of the fee interest in 10 E. 34th St., an office property located in Manhattan. The asset was sold for $51.7 million, or $946 per square foot, in an all-cash transaction. The 10-story commercial loft building consists of full-floor units and a total rentable space of 54,680 square feet plus an additional 2,500 square feet in the basement designed for use by the ground-floor retail tenant. Bob Knakal, John Ciraulo and Jonathan Hageman of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.
BOSTON — CIM Group has acquired an office building located at 95 Berkeley St. in Boston’s South End for an undisclosed sum. CIM made the acquisition with Boston-based Center Court Mass. Constructed in 1920, the six-story building features 114,000 square feet of office space and a below-grade parking structure. The property was last renovated in 1988.
NEW YORK CITY — Westbridge Realty Group has arranged the sale of a four-building multifamily portfolio in Brooklyn. Brooklyn-based J.Wasser & Co. acquired the portfolio from West 36 RS LLC for $3.5 million, or $185 per square foot. Totaling 18,960 square feet and 24 residential units, the properties are located at 2832, 2836, 2844 and 2850 W. 36th St. Steven Westreich of Westbridge Realty Group represented the buyer and seller in the off-market transaction.
STAMFORD, CONN. — Starwood Hotels & Resorts Worldwide Inc. is considering terminating its planned acquisition by Marriott in light of a new offer from a Chinese-led joint venture. Beijing-based Anbang Insurance Group is leading the new offer of $13.2 billion, which includes investment from J.C. Flowers & Co. and Primavera Capital Limited. The joint venture is collectively known as Anbang Consortium. Starwood, which is based in Stamford, said that the Anbang bid is a superior proposal to the price tag that Marriott agreed to pay in November. Marriott’s cash-and-stock proposal was valued at $68.06 per share, or $13.06 billion as of Thursday’s closing price, according to The Wall Street Journal. Anbang Consortium would pay $78 per share, an increase from the $76 per share proposal it made on March 10. Click here to read the details on the initial Marriott offer. Marriott has until March 28 to make a counter offer to Starwood, and has stated that it “continues to believe that a combination of Marriott and Starwood is the best course for both companies and offers the best value to Starwood shareholders.” Under the terms of the original merger agreement, Starwood, which owns the Westin, St. Regis, Sheraton and W hotel …