NEW YORK CITY — Marcus & Millichap has brokered the sale of a land parcel located at 137 Frost St. in Brooklyn. The 7,500-square-foot parcel sold for $5.3 million. Shaun Riney, Michael Salvatico and James Saros of Marcus & Millichap’s Brooklyn office represented the seller and buyer, both private investors, in the transaction.
NEW YORK CITY — A joint venture between Fisher Brothers, Witkoff and New Valley has broken ground on 111 Murray Street, an 800-foot residential tower in Tribeca. Designed by Kohn, Pederson Fox, the property will feature more than 300,000 square feet of condominiums, ranging from one-bedroom to five-bedroom units priced between $2 million and more than $17.5 million. The 157-residence tower will feature a 24/7 doorman and concierge, lobby, private dining room with fully equipped demonstration kitchen, landscaped private garden, 75-foot lap pool, children’s splash pool, fitness center, hair salon, teen arcade, children’s playroom and media room. Completion is slated for early 2018.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use property located at 23 E. 17th St. in Manhattan’s Ladies’ Mile Historic District. The 10,998-square-foot property sold for $13.2 million, or $1,205 per square foot. Built in 1902, the six-story property consists of two ground-floor retail spaces, one second-floor commercial space and apartment units on the upper floors. Thomas Gammino Jr., John Ciraulo and Craig Waggner of Cushman & Wakefield brokered the transaction. The names of the buyer and seller were not released.
WILKES-BARRE, PA. — Landmark Commercial Realty/TCN Worldwide has arranged the sale of a multifamily property located in Wilkes-Barre. The 200-unit rental townhouse community, known as Marion Terrace, sold for $12.1 million. Chuck Heller and Drew Bobincheck of Landmark Commercial Realty negotiated the deal on behalf of the seller, Hanover Associates. Kingston, Pa.-based Mark Development Co. represented the undisclosed buyer in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an apartment building located at 252 Union Ave. in Brooklyn. The four-unit property sold for $1.4 million. Shaun Riney, Michael Salvatico and James Saros of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a developer, in the transaction.
CARLSTADT, N.J. — NAI James E. Hanson has arranged a 23,062-square-foot industrial lease at a newly renovated building located at 495 Barell Ave. in Carlstadt. The newly signed tenant is KS Trading Corp., a manufacturer and marketer of casual clothing for boys. KS Trading Corp. will utilize the building to house and distribute its golf apparel line of clothing as it grows its distribution capabilities and services. The property features three loading docks, ample column spacing and 16-foot ceiling heights. Thomas Vetter and Jeffrey DeMagistris of NAI Hanson represented the landlord, Barell 495 LLC, while William Lee of Eastern International Realty represented the tenant in the long-term lease transaction.
BEAR, DEL. — Capital One has provided a $45 million Fannie Mae loan for the refinancing of Christiana Meadows located at 264 Bear Christiana Road in Bear, a suburb of Wilmington. Developed between 1987 and 1989, the 648-apartment property features an outdoor swimming pool, tennis courts, whirlpool, sauna, fitness center and a clubhouse with a kitchen, wet bar and social center. Individual units feature all electric appliances, including microwaves, full-size washer/dryers; private balconies or patios; spacious floor plans and large closets. Brian Sykes of Capital One originated the 10-year, fixed-rate loan for the borrower, Commonwealth/Emory Hill Management.
TRENTON, BEVERLY, CAMDEN, BRIDGETON, PEMBERTON AND STRATFORD, N.J. — Clearwater, Fla.-based Boos Development has selected Plymouth Meeting, Pa.-based Legend Properties to develop six Family Dollar stores in the Southern New Jersey market. Totaling more than eight acres of land, the locations are in various stages of development or construction. The properties are located in Trenton, Beverly, Camden, Bridgeton, Pemberton and Stratford.
NEW YORK CITY — KZA Realty Group has brokered two sales transactions totaling $4.7 million in the Bronx. In the first purchase, The Transit Worker’s Union acquired a three-story, 34,456-square-foot building located at 2475 Westchester Ave. for $3 million. The buyer will use the property to provide counseling on affordable housing, healthcare services, representation and related service to Transit Worker’s Union members. Michael Gilbert of Gilco Realty represented the seller, 437 East 165th Street Realty Corp., in the transaction. In the second deal, Azimuth Development Group purchased a 6,691-square-foot licensed parking lot for $1.7 million. The buyer plans to use the lot as a development site. David Simone of Cushman & Wakefield represented the seller, 1164 Wheeler Avenue LLC, in the transaction. Kathy Zamechansky of KZA Realty Group represented the buyers in both deals.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a multifamily property located at 910 Prospect Place in Brooklyn. The eight-unit property sold for $2.5 million. Shaun Riney, Derek Bestreich and Lucien Sproviero of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a developer, in the transaction.
