Northeast

Bijou Properties Opens Park + Garden Multifamily Development in Hoboken

by Amy Works August 21, 2015

HOBOKEN, N.J. — Bijou Properties has opened Park + Garden, a sustainable residential development in Hoboken. Located at 1450 Garden St., the property features 212 one-, two- and three-bedroom apartment units. Designed by Marchetto Higgins Stieve to achieve LEED Gold certification, the development consists of two 12-story residential towers connected by a podium featuring an amenities center and a 383-car enclosed parking garage. Additionally, the development includes 13,000 square feet of street-level retail space and 32,000 square feet of educational space. On-site amenities include an attended lobby, state-of-the-art gym, multiple clubrooms, courtyards, an outdoor pool and landscaped deck, laundry facilities and bike storage. Monthly rents start at $3,250, and the property was more than 30 percent pre-leased prior to opening.

August 21, 2015

Loans New York Northeast Office

Capital One Closes $150M Refinance Loan for Tribeca Office Building

by Amy Works August 21, 2015

NEW YORK CITY — Capital One served as joint lead arranger, joint bookrunner and administrative agent for a 10-year, $150 million syndicated loan to refinance an office building at 40 Worth St. in Tribeca. Owned by Newmark Holdings, the 16-story property features 761,000 net rentable square feet, including 106,000 square feet of retail space. The property is currently occupied by a variety of retail and commercial tenants, including several New York City agencies and a number of nonprofits. TD Bank also served as a lead arranger and bookrunner on the loan. Paul Verdi of Capital One represented the bank, while Paul Talbot of NGKF Capital Markets represented the borrower in the financing transaction.

August 21, 2015

Loans Massachusetts Mixed-Use Northeast Office Restaurant Retail

Rockland Trust Invests $27M in Sam Park & Co.’s The Point in Massachusetts

by Amy Works August 21, 2015

LITTLETON, MASS. — Rockland Trust has provided $27 million in financing to Boston-based Sam Park & Co. for the completion of the first phase of The Point, a 540,000-square-foot mixed-use project currently under construction in Littleton. Located at the intersection of Interstate 495 and Route 119, the project will feature 400,000 square feet of retail space, an entertainment complex, office space, a health club and a 115-room Courtyard by Marriott. Retail tenants will include Market Basket, Starbucks, AT&T, O’neil Cinemas, The Paper Source, Tavern in the Square and Pet Source, among others.

August 21, 2015

New York Northeast Office

Binswanger Brokers $10.2M Sale of Bronx Facility

by Amy Works August 21, 2015

NEW YORK CITY — The City of New York has acquired a two-story building located at 850 E. 138th St. in the Bronx’s Port Morris section from Aramark for $10.2 million. The city will use the 75,080-square-foot property to consolidate and house the operations of The Department of Parks & Recreation Five-Borough shops. Built in 1988 as a commercial laundry operation, the facility features open floor plates, attractive ceiling heights and a gated parking lot. Jim Panczykowski of Binswanger’s New Haven, Conn., office handled the transaction.

August 21, 2015

Mixed-Use Multifamily New York Northeast Retail

Thor Equities Acquires 46,200 SF Residential, Retail Building in Central Harlem

by Amy Works August 21, 2015

NEW YORK CITY — Thor Equities has acquired a residential and retail building located at 17 W. 125th St. in Central Harlem for an undisclosed sum. Constructed in 1900, the five-story, 46,200-square-foot elevator building features 50 rental units, including 32 one-bedroom apartments, 14 two-bedroom units and three three-bedroom units, and more than 9,000 square feet of retail space with 18-foot ceilings. The name of the seller was not released.

August 21, 2015

Loans Multifamily New York

Meridian Capital Group Arranges $30M Loan for Park Avenue Multifamily Property

by Amy Works August 20, 2015

NEW YORK CITY — Meridian Capital Group has arranged a $30 million mortgage for the refinancing of a multifamily property located at 15-17 Park Ave. in New York City. The seven-year loan, which was provided by a regional balance sheet lender, features a 3.5 percent fixed rate and interest-only payments for the full term. The borrower is Samson Management LLC. Built in 1924, the 16-story property features 97 apartment units and 2,810 square feet of office space. Avi Weinstock and Chaim Tessler of Meridian Capital Group negotiated the financing.

August 20, 2015

Loans Multifamily New Jersey Northeast

Cushman & Wakefield Secures $22M in Refinancing for SilkLofts in New Jersey

by Amy Works August 20, 2015

BAYONNE, N.J. — Cushman & Wakefield has arranged $22 million in refinancing for SilkLofts, a multifamily property located at 154-157 Avenue E in Bayonne. The loan features a seven-year term at a 3.3 percent fixed rate, with a five-year extension option. Originally the Maidenform Brassiere factory, the property was converted into a multifamily development with five studio units, 26 two-bedroom units, 48 one-bedroom units and six private artist lofts. George Gnad of Cushman & Wakefield handled the transaction.

August 20, 2015

Industrial Northeast Office Pennsylvania

IMC Construction Completes Ifm Efector Headquarters in Pennsylvania

by Amy Works August 20, 2015

MALVERN, PA. — IMC Construction has completed a 45,000-square-foot headquarters building for ifm efector North America. Located at 1100 Atwater Drive with the Atwater Corporate Center in Malvern, the two-story facility features space for more than 175 employees, a fitness center, large cafeteria, training center, multiple conference rooms, an executive board room, 10-foot ceilings, large windows and an open floor plan. Essen, Germany-based ifm efector produces sensor and control products.

August 20, 2015

Massachusetts Northeast Retail

Savills Studley Brokers Sale of 126,480 SF Retail Property in Massachusetts

by Amy Works August 20, 2015

WATERTOWN, MASS. — Savills Studley National Retail Services Group has brokered the sale of a single-tenant retail property in Watertown. Boston-based Eastern Real Estate sold the 126,480-square-foot property to an affiliate of Inland Real Estate Acquisitions Inc. for an undisclosed price. Located at 615 Arsenal St., the property is occupied by The Home Depot, which has 17 years remaining on its triple-net lease. Kyle Miller and Bill Bauman represented the seller in the transaction.

August 20, 2015

Loans Multifamily New York Northeast

Equicap Secures $6.6M Permanent Loan for Brooklyn Multifamily Property

by Amy Works August 20, 2015

NEW YORK CITY — Equicap has arranged $6.6 million in permanent financing for the refinance of a multifamily property located in Brooklyn’s Park Slope neighborhood. The non-recourse loan features a 10-year term with three years of interest-only payments and a 30-year amortization schedule at a 3.8 percent interest rate. The asset features 29 apartment units. Daniel Hilpert of Equicap negotiated the loan for the undisclosed borrower.

August 20, 2015

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