BUFFALO, N.Y. — Colliers International Student Housing Group has arranged the sale of a 28-acre development site near the State University of New York at Buffalo. A joint venture between Harrison Street Real Estate and University Student Living, a company of The Michaels Organization, acquired the property from Menorah Campus for an undisclosed price. The buyer is planning to build a Class A student housing property on the site with approximately 600 beds. The project is slated for delivery in 2016.
NEW YORK CITY — Alpha Realty has brokered the sale of a multifamily building located at 194 Utica Ave. in Brooklyn’s Crown Heights neighborhood. A local private investor acquired the property for $2.5 million, or $260 per square foot. Constructed in 1906, the 9,100-square-foot property features 14 apartments and two retail spaces. Jacob Aronov of Alpha Realty represented the buyer and the seller, a local private investor, in the transaction.
BOSTON — 226 Causeway Holdings LLC has completed the disposition of an office and retail property located at 226 Causeway in downtown Boston. The six-story Class A property sold for $92 million. The 192,890-square-foot property is 92 percent leased to a variety of tenants and anchored by two divisions of TripAdvisor, Oxfam America’s headquarters, the headquarters of the NBA’s Boston Celtics and Stantec. The property recently underwent a $1.7 million capital improvements program, including a complete lobby renovation, updated common areas and new building signage. Robert Griffin, Edward Maher and Matt Pullen of Cushman & Wakefield represented the seller in the transaction. The name of the buyer was not released.
HARRISBURG, PA. — NorthMarq Capital has arranged $20.7 million in acquisition financing for an industrial portfolio located in Harrisburg. The three-building portfolio features 563,688 square feet of space. James Murphy of NorthMarq’s Boston office secured the interest-only loan for the undisclosed borrower through NorthMarq’s relationship with a correspondent life insurance company.
STAMFORD, CONN. — Cushman & Wakefield has brokered the sale of Airport Campus, a two-building office campus located at 113 King Street in Stamford. MBIA sold the property for an undisclosed price to a joint venture between affiliates of Steven Wise Associates LLC and the Manocherian family. Situated on 38 acres, the campus comprises a 110,000-square-foot building and a 190,000-square-foot property, as well as approvals to expand the facility by more than 240,000 square feet. The campus features a 250-person cafeteria; fitness center; auditorium and video conference center; 17 conference rooms; three meeting rooms; walking trails; tennis, basketball and volleyball courts; and facilities for a sundry shop, ATM, dry cleaner and professional mailroom. Thomas O’Leary, Maureen O’Boyle and Gerry Lees of Cushman & Wakefield represented the seller in the transaction. The buyer has retained Trip Hoffman, Matthew Lisk and Mike McCarthy of Cushman & Wakefield as leasing agents for the property.
NEW YORK CITY — Kalmon Dolgin Affiliates has brokered the sale of three properties, totaling 51,000 square feet, in the Williamsburg area of Brooklyn. ITF Corp + 735 Bedford Ave LLC sold the properties for $7.5 million to Moses Wertheimer. The properties are located at 11/13/15 Spencer St., 466 Flushing Ave. and 23/25/27 Spencer St. Aqua Best Inc., a seafood distributor, currently occupies 5,000 square feet of the space. Neil Dolgin of Kalmon Dolgin represented the seller in the transaction; the buyer was self-represented.
YORKTOWN, N.Y. — GHP Office Realty LLC has launched a $6 million renovation program at Northern Westchester Executive Park, a 26-acre office park in Yorktown. The parks consists of the a 68,000-square-foot medical office property at 2649 Strang Blvd. and a 150,000-square-foot technology/medical/laboratory/call center at 2651 Strang Blvd. Renovations at 2649 Strang Blvd. will include a state-of-the-art fitness center, a café and upgraded common areas. Renovations at 2651 Strang Blvd. will include the interior demolition of 100,000 square feet of flex, office, medical, lab, technology and call center, and the installation of new windows and heating and ventilating systems. Current tenants at the park are ENT & Allergy Associates, Hudson Valley Hematology, North Shore-Long Island JHS, Northern Westchester County Dental, Hudson Valley Oral Surgery, Dialysis Clinic Inc. and Mercy College’s Yorktown Campus.
NEW YORK CITY — Eastern Consolidated has arranged the sale the Ridge Street portfolio, three contiguous mixed-use buildings located on the Lower East Side. A partnership between Admiral Capital Group and Four Winds Realty purchased the properties for $50 million from Judah Klausner and Richard Freedman. Located at 198-200 Rivington St., 110-114 Ridge St. and 118 Ridge St., the portfolio includes 64,000 square feet featuring 61 residential units, three retail stores and one 6,250-square-foot community facility space. Deborah Gutoff of Eastern Consolidated procured the buyer, while Gutoff and Ronda Rogovin, also of Eastern Consolidated, represented the sellers in the transaction.
PAOLI, PA. — HFF has arranged $38.3 million in financing for Paoli Shopping Center, a grocery-anchored retail center in Paoli. HFF worked on behalf of Berwyn, Pa.-based Brandolini Cos. to secure the long-term, fixed-rate mortgage through an institutional lender advised by Quadrant Real Estate Advisors. The loan will be used to refinance existing debts. Situated on 18.8 acres, the 165,617-square-foot center is 96.8 percent occupied by a variety of tenants, including Acme Markets, Pier 1 Imports, Talbots, Loft, Chico’s, JoS. A. Bank, Francesca’s, Einstein’s Bagels, Bravo’s Pizza and Kitchen Capers. Ryan Ade led the HFF team that represented the borrower in the financing.
NEW YORK CITY — Crest Realties has acquired a multifamily building in Manhattan’s Washington Heights neighborhood for $9 million. Located at 140 Wadsworth Ave., the six-story building features 31 apartments and four professional offices. The property is adjacent to 4240 Broadway and near 4300 Broadway, two multifamily properties that Crest Realties purchased in November 2013 for $23.7 million. Peter Vanderpool and Lazer Sternhell of Cignature Realty Associates represented the buyer and the seller, 140 Wadsworth (a local family estate), in the transaction.