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Northeast

15-Beach-Rd-Great-Neck-NY
LoansMultifamilyNew YorkNortheast

Houlihan-Parnes Realtors Arranges $1.5M Loan for Apartment Building in New York

by Amy Works

GREAT NECK, N.Y. — Houlihan-Parnes Realtors has arranged a $1.5 million first mortgage loan for an apartment building located at 15 Beach Road in Great Neck. Built in 1950, the three-story building includes 54 apartments, on-site outdoor parking spots, 27 garages, gardens and a courtyard. The seven-year loan, which was placed with a savings bank, features a fixed interest rate of 3.5 percent and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes secured the financing for the undisclosed borrower.

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PRG-Wyncote-PA
NortheastPennsylvaniaRetail

Rock Climbing Gym Leases 10,000 SF Property in Suburban Philadelphia

by Amy Works

WYNCOTE, PA. — Philadelphia Rock Gym (PRG) has inked a multi-year lease for a 10,000-square-foot warehouse facility, located at 827 Glenside Ave., Suite 200 in Wyncote. The facility will be PRG’s fourth rock climbing location in the greater Philadelphia area. PRG is an indoor rock climbing gym known for its state-of-the-art climbing walls, full-service fitness centers and private party wall rentals. Swope Lees Commercial represented the tenant in the transaction with the landlord, Midgard Properties LP.

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New YorkNortheastRetail

lululemon athletica Leases6,400 SF of Retail Space in NoHo

by Amy Works

NEW YORK CITY — lululemon athletica inc. has leased 6,400 square feet of retail space at 50 Bond St. in New York City’s NoHo district. The athletic apparel company will occupy the space that Eva Scrivo Salon is vacating. The two-level retail unit features 13-foot ceilings on the ground floor and more than 30 feet of frontage on Bond Street. Designed by Cleverdon & Putzel and built in 1896, the property also features six full-floor residential condominiums. The landlord, Thor Equities, recently acquired the retail unit. Terms of the lease were not released. Eva Scrivo Salon is relocating to 5,500 square feet at 193 Fifth Ave. in the Flatiron district.

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97-101-Pine-St-Montclair-NJ
MultifamilyNew JerseyNortheast

Gebroe-Hammer Associates Arranges Four Multifamily Sales in New Jersey

by Amy Works

IRVINGTON, MONTCLAIR AND EAST ORANGE, N.J. — Gebroe-Hammer Associates has arranged the sales of four multifamily properties, totaling 176 units, across Essex County, N.J. The Livingston-based firm represented the sellers, private investors, in each transaction. In the first transaction, David Oropeza of Gebroe-Hammer arranged the $5.6 million sale of a two-property multifamily package in Irvington. Located at 336 and 505-515 Stuyvesant Ave., the six-building portfolio features 120 units, on-premise parking, garages, on-site laundry and balconies. Oropeza represented the seller and secured the buyer in the deal. Also in Irvington, David Jarvis of Gebroe-Hammer brokered the sale of a three-story walk-up at 649 Chancellor Ave. The property features 14 renovated studio apartments and two ground-floor retail units. Terms of the sale, including buyer, seller and price, were not released. In the third transaction, a two-building portfolio, located at 97 and 101 Pine St. in Montclair, sold for $4 million. The 28-unit portfolio features a mix of studio, one- and two-bedroom floor plans with modern kitchen and baths, as well as hardwood flooring. Ken Uranowitz and Nicholas Nicolaou of Gebroe-Hammer handled the transaction. The names of the seller and buyer were not disclosed. In the final transaction, Oropeza and Jarvis negotiated the …

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1260-Broadway-NYC
Mixed-UseMultifamilyNew YorkNortheastRetail

Cushman & Wakefield Arranges Sale of Mixed-use Building in Brooklyn

by Amy Works

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building located at 1260 Broadway in Brooklyn’s Bedford-Stuyvesant neighborhood. Situated between Green and Lexington avenues, the 7,000-square-foot property sold for $2.2 million, or $314 per square foot, in an all-cash transaction. The four-story walk-up building consists of three two-bedroom apartments, three one-bedroom apartments and one retail unit. Renovated in 2000, the property is fully free market with preferential rents. A preferential rent is a rent that an owner agrees to charge that is lower than the legal regulated rent that the owner could lawfully collect. Michael Amirkhanian of Cushman & Wakefield brokered the transaction. The names of the buyer and seller were not released.

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33-Williams-St-Mt-Vernon-NY
LoansMultifamilyNew YorkNortheast

Houlihan-Parnes Realtors Arranges $2M Loan for Multifamily Property in New York

by Amy Works

MOUNT VERNON, N.Y. — Houlihan-Parnes Realtors has arranged a $2 million first mortgage loan for a multifamily property located at 33 Williams St. in Mount Vernon’s Fleetwood section. Built in 1932, the seven-story property, which is situated on 1.1 acres, features 116 apartments, 26 on-site outdoor parking spots, 60 garage spots, gardens and a courtyard. The self-liquidating loan was placed with a savings bank at a 15-year fixed interest rate of 3.6 percent. Jeremiah Houlihan of Houlihan-Parnes arranged the financing for the undisclosed borrower.

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IndustrialNew JerseyNortheast

Binswanger Negotiates Long-Term Lease for Iberia Foods in New Jersey

by Amy Works

SOMERSET, N.J. — Binswanger has arranged the long-term lease of 82,181 square feet of distribution space in Somerset for Iberia Foods of New York. The company plans to use the facility at 95 Clyde Road to support the more than 10,000 supermarkets, club stores, wholesalers and distributors on the East Coast that the company serves. Constructed in 1980, the property features 24-foot clear ceiling heights, a wet sprinkler system, T-8 lighting, eight dock-high doors, one drive-in door and parking for 100 vehicles. Andy Grabis and Jim Panczykowski of Binswanger represented the tenant in the transaction. The landlord is Cabot II-NJ M01 LLC.

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New JerseyNortheastOffice

Colliers Arranges Relocation, Expansion for Babe Ruth League Headquarters

by Amy Works

HAMILTON, N.J. — Colliers International has arranged the sale of a property located at 1670 White Horse-Mercerville Road in Hamilton to Babe Ruth League Inc., a non-profit educational, baseball organization. The stand-alone property features 8,500 square feet of office space, including a showroom of Babe Ruth memorabilia, and a 1,500-square-foot warehouse. The national organization plans to relocate its headquarters to the property from its former location at 1770 Brunswick Pike in Lawrence, N.J. Vinny Di Meglio and Thomas Romano of Colliers represented Babe Ruth League in the $712,000 transaction. The seller was Hamilton Park Associates LP.

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LogistiCenter-33-Forks-PA
IndustrialNortheastPennsylvania

Dermody, PCCP to Develop 475,800 SF Industrial Facility in Eastern Pennsylvania

by Amy Works

FORKS TOWNSHIP, PA. — Dermody Properties and PCCP have partnered to develop a 475,800-square-foot industrial facility at 4200 E. Braden Blvd. in Forks Township in Lehigh Valley.Construction is slated to begin in fourth quarter, with completion scheduled for mid-2016. LogistiCenter at 33 will feature 36-foot clear heights, 226 car parking spaces and 85 trailer parking spaces. The facility is ideally suited for warehouse, distribution and manufacturing operations. Dermody Properties is the industrial developer and operating partner, and PCCP is the financial partner for the project.

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C&W-newlogo
New YorkNortheast

Cushman & Wakefield, DTZ Complete Merger

by Amy Works

NEW YORK CITY — Cushman & Wakefield and DTZ have completed their merger to form one of the largest commercial real estate services firms in the world. The new company will have a combined total of $5 billion in revenue, 43,000 employees, more than 4.3 billion square feet under management and $191 billion in transaction value. The firm will be led by Chairman and CEO Brett White and Global President Tod Lickerman. “This is a game-changing event in commercial real estate,” says White. “Both legacy firms has been aggressively growing their respective platforms and deepening their reach into the market with new acquisitions and talent. Now we have the opportunity to see these ambitions come together — capturing the momentum in the market and clearly claiming our position at the top of the industry.” Cushman & Wakefield now operates in more than 60 countries around the world, providing global commercial real estate service in every service line and every major geographical area in the world. Cushman & Wakefield is majority owned by an investor group led by TPG, PAG and OTTP.

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