NEW YORK CITY — Eastern Consolidated has arranged the sale of a retail condominium located at 205 Bleecker St., also known as 1 Minetta St., in Greenwich Village. At more than 6,000 square feet, the corner site sold for $9.7 million. Max Hakim of Eastern Consolidated represented the seller, Forest Hills Property Group, while Evan Street, also of Eastern, represented the buyers, Infinity Real Estate and Seven Equities, in the transaction.
BLOOMFIELD, N.J. — Marcus & Millichap has brokered the sale of an apartment building located at 210-214 Franklin St. in Bloomfield. The 49-unit property sold for $4.4 million. Nat Gambuzza and John Veniero of Marcus & Millichap represented the seller, a private investor, and secured the buyer, also a private investor, in the transaction.
PHILADELPHIA — Castle Rock Equity has acquired the ICON Building at 1616 Walnut St. in Philadelphia’s City Center district. The company purchased the 25-story art deco tower for $112 million. The previous owners, a partnership between Federal Capital Partners, Cross Properties and Alterra Property Group, completed a $60 million transformation to the building in 2014, converting it from office to residential use. Constructed in 1929, the 206-unit apartment building features a rooftop terrace, wellness center, club level, electric car charging stations, car and bike share programs, and a pet grooming station, among other on-site amenities. Castle Rock Equity Group worked with Divvone Equity Group to close the transaction.
WALTHAM, MASS. — A joint venture between King Street Properties and Carlyle Group has acquired a laboratory and office building located at 830 Winter St. in Waltham. Intercontinental Real Estate Corp. sold the 182,000-square-foot property for $104.2 million, or $572 per square foot. Built in 2000, the property is designed to accommodate both chemical and biological laboratories. Additional on-site amenities include a full-service cafeteria, outside seating, conference facilities and structured parking. The property was fully leased at the time of sale to tenants including Histogenics Corp., GlaxoSmithKline and ImmunoGen Inc. Chris Skeffington, John Lasher, Roy Sanderman, Jon Varholak and Steve Purpura of Transwestern|RBJ represented the seller and procured the buyer in the transaction.
BOSTON — John Hancock has filed a letter of intent with the Boston Redevelopment Authority to design and construct an office building in Boston’s Back Bay neighborhood. The $350 million project proposal calls for a 26-story, 625,000-square-foot Class A office tower at 380 Stuart St. If approved, the construction is slated to commence in late 2016, with projected completion date of early 2019. Skidmore Ownings & Merrill and CBT Architects are providing architectural services and Colliers International is serving as project manager for the proposed project.
UNIONTOWN, PA. — Pennsylvania Real Estate Investment Trust (PREIT) has completed the disposition of Uniontown Mall located at 1368 Mall Run Road in Uniontown. The 700,000-square-foot property sold for $23 million to an undisclosed buyer. The property is anchored by JC Penney, Sears, Bon-Ton, Burlington Coat Factory and Teletech Customer Care. The buyer also separately acquired the fee interest in the ground underlying the mall from an unaffiliated party.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building located at 5008 Broadway in Manhattan’s Inwood neighborhood. The six-story property sold for $15.8 million, or approximately $325 per square foot, in an all-cash transaction. The 48,576-square-foot property features five retail units and 47 residential units in a mix of one-, two- and three-bedroom layouts. Robert Shapiro of Cushman & Wakefield handled the transaction. The names of the seller and buyer were not released.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 14 multifamily properties, with 176 residential units and eight retail stores, located in Upper Manhattan, in two separate transactions. Morningside Partners I LP and 9-11 CPN LLC sold the properties for $58 million to an undisclosed private investor. Thirteen of the walk-up apartment buildings are located on one city block between Manhattan Avenue, Frederick Douglass Boulevard, West 114th Street and West 115th Street in Morningside Heights. The 13 properties, which total more than 125,000 square feet, sold for $47 million, or $376 per square foot. In a separate transaction, a five-story, 23,640-square-foot property located at 9-11 Central Park North sold for $11 million, or $465 per square foot.
JONESTOWN, PA. — PCCP has partnered with Dermody Properties to acquire a 43-acre site for the development of LogistiCenter 78-81 in Jonestown. The joint venture purchased the site for an undisclosed price from Pennsylvania-based Vision Group Ventures. The Class A distribution center will feature 405,000 square feet of industrial space. Construction is slated to begin immediately and completion is scheduled for spring 2016. The property will consist of a front-load distribution building featuring 36-foot clear heights, an ESFR sprinkler system, 81 dock doors, two drive-in doors, clerestory glass to allow natural light, 60-foot loading bays, T-5 lighting, parking for 220 cars and one extra trailer parking space per dock door.
ROXBURY, N.J. — A joint venture between Advance Realty, DeBartolo Development and Invesco has acquired Ledgewood Mall in Roxbury for an undisclosed sum. Built in 1972 and situated on 46 acres, the three-building 517,000-square-foot property consists of a 445,000-square-foot enclosed mall, a 60,000-square-foot outbuilding and a 12,000-square-foot outbuilding. Current tenants include Walmart, The Sports Authority, Marshalls, Barnes & Noble, Ashley Furniture and Ruby Tuesday. Christopher Bellapianta of Advance Realty led the transaction on behalf of the joint venture. The name of the seller was not disclosed.
