Northeast

Allen Distribution Leases 321,333 SF at Capital Logistics Center in Pennsylvania

by Amy Works November 16, 2015

MIDDLETOWN, PA. — Allen Distribution, a third-party logistics service provider, has signed a lease for 321,333 square feet at 100 Capital Lane within Capital Logistics Center in Middletown. The property features an adhered EPDM (ethylene propylene diene terploymer) roof, seven-inch unreinforced concrete floor with 54 doors with 33 knockout panels. Situated on more than 100 acres, the six-building, 1.5 million-square-foot Capital Logistics Center was recently renovated. A joint venture between Woodmont Industrial Partners and AEW Capital Management owns the logistics center. Kim Meincke and Jason Webb of Jones Lang LaSalle represented the tenant, while Michael Hess, Patrick Lafferty and Bart Anderson of CBRE represented Woodmont Industrial Partners in the transaction.

November 16, 2015

Loans Multifamily New York Northeast

National Cooperative Bank Originates More Than $60M in Loans for 21 NYC Cooperatives

by Amy Works November 16, 2015

NEW YORK CITY — National Cooperative Bank (NCB) originated more than $60 million in new loans during October for 21 New York area properties. Harley Seligman secured $23.2 million in new financing, including a $13.5 million first mortgage and a $1 million line of credit for Maple Plaza Housing Development Fund Corp., a 154-unit co-op at 1911-1929 Madison Ave. in Manhattan. Seligman also arranged $3.4 million in financing for Tara Close Apartments Corp., a 99-unit co-op at 77 Carpenter Ave. in Mount Kisco, N.Y.; and he arranged a $1 million first mortgage and $800,000 line of credit for Gramatan Court Apartments Inc., a 27-unit co-op at 23-25 Sagamore Road in Bronxville, N.Y. Edward Howe III arranged nearly $22 million in loans, including a $7 million first mortgage and $500,000 line of credit for an 84-unit co-op at 711 Shore Road in Long Beach, N.Y.; a $4 million first mortgage and $500,000 line of credit for Linden Hill No. 2 Cooperative Corp., a 384-unit co-op at 142-14/142-20 26th Ave. in Flushing; and a $4 million first mortgage and $1 million line of credit for Grinnell Housing Development Fund Corp., an 81-unit co-op at 800 Riverside Drive in Manhattan. Additionally, Mindy Goldstein arranged …

November 16, 2015

Multifamily New York Northeast

Cushman & Wakefield Brokers $3.4M Sale of Brooklyn Multifamily Property

by Amy Works November 16, 2015

NEW YORK CITY — Cushman & Wakefield has arranged the sale of a multifamily property located at 267 Ninth St, between Fourth and Fifth avenues in Brooklyn’s Park Slope neighborhood. The four-story building sold for $3.4 million, or $514 per square foot, in an all-cash transaction. The 6,612-square-foot property features eight rent-stabilized apartments. Aaron Warkov and Winfield Clifford of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.

November 16, 2015

New Jersey Northeast Retail

The Goldstein Group Closes Four Leases in New Jersey

by Amy Works November 16, 2015

HAMILTON, HAMPTON, PARAMUS AND LODI, N.J. — The Goldstein Group has closed four separate retail leases, totaling 43,724 square feet, in New Jersey. In the first transaction, Matthew Flath and Lew Finkelstein of The Goldstein Group represented the landlord and tenant, Kiddie Academy, in an 8,500-square-foot lease at Buckley Plaza on Route 130 in Hamilton. In the second deal, Neil Goldstein of The Goldstein Group represented the landlord in the lease of 20,000 square feet at Ames Shopping Center on Route 206 in Hampton to Staples. In Paramus, Goldstein also represented the landlord in the lease of 12,700 square feet at 45 Eisenhower Drive to Lightbridge Academy. In the final transaction, CJ Hunter and Finkelstein represented the landlord in the lease of 2,524 square feet at 150 Main St. in Lodi to Pet Valu. The names of the landlords were not released.

November 16, 2015