Northeast

Keystone Unveils Redevelopment Plan for One Plymouth Meeting Office Property

by Amy Works December 1, 2015

PLYMOUTH MEETING, PA. — Keystone Property Group has unveiled its plan to redevelop One Plymouth Meeting, a 180,000-square-foot office property located at 502 W. Germantown Pike in Plymouth Meeting. The nine-story building will be renovated to accommodate modern workplace demands, including the addition of amenities, interior and exterior upgrades, and to qualify for LEED certification. Overlooking Plymouth Meeting Mall, the office building has walkable access to various of restaurants and retail venues as well as an AMC movie theater.

December 1, 2015

Mixed-Use Multifamily New York Northeast Office Retail

Eastern Consolidated Negotiates $27M Sale of Development Site in Brooklyn

by Amy Works December 1, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of a block-front development site at 286-298 and 300-306 Wythe Ave. in the Williamsburg section of Brooklyn. Tri-Boro Shelving & Partition Corp. sold the site to Brooklyn-based North Development Group for $27 million. The site consists of two contiguous lots that together can support construction of up to approximately 51,200 buildable square feet of residential or commercial space with a community facility. Current zoning for the properties allows for residential and commercial development. Nicole Rabinowitsch and Gabriel Saffioti of Eastern Consolidated represented the seller and buyer in the transaction.

December 1, 2015

Multifamily New York Northeast

Alpha Realty Arranges $10.5M Sale of Multifamily Property in Brooklyn

by Amy Works December 1, 2015

NEW YORK CITY — Alpha Realty has brokered the sale of a multifamily property located at 36-40 Linden St. in Brooklyn’s Bushwick section. A local private investor sold the property to Manhattan-based buyers for $10.5 million. The four-story building includes 38 apartments. Glenn Raff of Alpha Realty represented the buyers, while Lev Mavashev, also of Alpha Realty, represented the seller in the transaction.

December 1, 2015

Loans New Jersey Northeast Retail

Houlihan-Parnes Secures $8M Loan for Independence Plaza Shopping Center in New Jersey

by Amy Works December 1, 2015

HAMILTON TOWNSHIP, N.J. — Houlihan-Parnes Realtors has arranged an $8 million supplemental loan for Independence Plaza Shopping Center in Hamilton Township. The owners, which acquired the property earlier this year, are renovating the shopping center. Four new leases have been signed with Regal Cinemas, Sav-A-Lot Supermarket, Crunch Fitness and Ollie’s Bargain Outlet. The owners plan to fully restore the property to 100 percent occupancy after the renovations are complete. Elizabeth Smith of Goldberg Weprin Finkel Goldstein provided legal counsel for the owners. James Houlihan of Houlihan-Parnes Realtors secured the financing.

December 1, 2015

New Jersey Northeast Retail

The Goldstein Group Brokers Sale of 21,000 SF Retail Property in New Jersey

by Amy Works December 1, 2015

RAHWAY, N.J. — The Goldstein Group has arranged the sale of a 21,000-square-foot, freestanding retail building, located at 2161 Route 1 in Rahway. JRS Realty LLC sold the property to Kata Corp. for an undisclosed price. Chuck Lanyard of The Goldstein Group represented the seller in the transaction.

December 1, 2015

Connecticut Loans Northeast Retail

Cronheim Mortgage Secures $19M Loan for 215,000 SF Shopping Mall

by Amy Works November 30, 2015

TRUMBULL, CONN. — Cronheim Mortgage has secured a $19 million loan for Hawley Lane Mall, a 215,000-square-foot shopping mall in Trumbull. The 15-year loan, which features a 30-year amortization schedule, was funded by the United States Life Insurance Co. and National Union Fire Insurance Co. In 2005, Purchase, N.Y.-based National Realty and Development Corp. redeveloped the property, which was built in 1971, into a two-level community shopping center. The center is anchored by Kohl’s, HomeGoods and Best Buy. Andrew Stewart and Dev Morris of Cronheim Mortgage arranged the financing for the borrower.

November 30, 2015

Civic New York Northeast Office

Ensign Engineering, John Ciardullo Associates Complete $2.6M Library, Learning Center in NYC

by Amy Works November 30, 2015

NEW YORK CITY — Construction manager Ensign Engineering and architect John Ciardullo Associates have completed the Aeronautical and Academic Library and Teaching and Learning Center at Vaughn College of Aeronautics and Technology, located at 86-01 23rd Ave. in Flushing. The $2.6 million library and learning center was the final phase of the $40 million expansion, renovation and sound mitigation construction program at the college’s main campus. The 11,000-square-foot library is designed to hold a collection of 26,300 items and features four enclosed classrooms with 70 computer stations, reading and studying rooms, and a flexible seating area with seven large tables that seat up to 42 patrons. The renovations were financed through grants, totaling $32 million, from the Federal Aviation Administration and The Port Authority of New York and New Jersey. Additionally, Vaughn invested $7 million from its own funds. The design and construction team included Ensign Engineering, John Ciardullo Associates, Library Interiors Inc., Langan Engineering and Environmental Services, DVL Consulting Engineers and Peter George Associates.

November 30, 2015

New Jersey Northeast Retail

Marcus & Millichap Arranges $1.9M Sale of 8,250 SF Retail Property in New Jersey

by Amy Works November 30, 2015

BRANCHBURG, N.J. — Marcus & Millichap has brokered the sale of Branchburg Plaza, a retail property located at 1010 U.S. Route 202 in Branchburg. A 1031 exchange buyer acquired the 8,250-square-foot strip center for $1.9 million. Robert Angus and Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction.

November 30, 2015

Connecticut Northeast Retail

Angel Commercial Negotiates $1M Sale of Retail Property in Connecticut

by Amy Works November 30, 2015

MILFORD, CONN. — Angel Commercial LLC has arranged the sale of a retail investment property located at 773 Bridgeport Ave. in Milford. Private investors acquired the 4,800-square-foot building from H&S Olson LLC for $1 million. The current tenant, PPG Paints, will remain in the property. Jon Angel of Angel Commercial represented the seller in the transaction.

November 30, 2015

Hospitality New York Northeast

Cambria Hotel & Suites Times Square Opens in Manhattan

by Amy Works November 25, 2015

NEW YORK CITY — Concord Hospitality and Choice Hotels has developed the 78,000-square-foot Cambria Hotel & Suites Times Square at 30 W. 46th St. in Manhattan. Designed by Gene Kaufman Architect, the 21-story, 196-room LEED-certified hotel is the largest Cambria hotel in the country. The guestrooms include private terraces for the second-floor rooms, and a refrigerator and flat-screen television. On-site amenities include a rear outdoor garden with lounge seating, a front outdoor area with tables and chairs, a 700-square-foot fitness center, a 24-hour business center, event facilities, dry cleaning and laundry services, and free WiFi. Additionally, the hotel features a 1,000-square-foot restaurant and a 500-square-foot bar/lounge designed by McGinley Design.

November 25, 2015

Newer Posts

Older Posts