PHILADELPHIA — Rubenstein Partners has closed three new office leases, totaling 36,738 square feet, at One Washington Square in Philadelphia’s Center City. Berkshire Hathaway HomeServices Fox & Roach REALTORS has relocated to 20,443 square feet; The Foundation for Individual Rights in Education Inc. has leased 12,605 square feet; and AKRF Inc. has leased 3,690 square feet at the 850,000-square-foot office property. Affiliates of Rubenstein acquired the property in late 2013 and launched a rebranding campaign, as well as a capital investment program, for the property. Jack Soloff, Jim Mullarkey and Les Haggett of Newmark Grubb Knight Frank represented Rubenstein Partners in the transaction. Berkshire Hathaway HomeServices Fox & Roach was represented by Jim Wilson of Mahoney Realty Group; The Foundation for Individual Rights in Education was represented by Neil Brazitis and Sid Smith of Newmark Grubb Knight Frank; and AKRF was represented by Cindy Weiner of The Flynn Company.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a retail condominium located in Manhattan’s East Village. The 15,311-square-foot property sold for $24.3 million, or $1,590 per square foot, and features more than 200 feet of wraparound frontage. The property is currently divided into three separate spaces on the ground floor and basement. Additionally, the property is undergoing renovation to include an additional 1,314 square feet of retail space. James Nelson and Bob Knakal of Cushman & Wakefield negotiated the transaction. The seller was Benchmark, but the name of the buyer was not released.
WESTBOROUGH, MASS. — Ultima Hospitality has acquired the DoubleTree by Hilton Hotel Boston – Westborough in Westborough, approximately 35 miles form downtown Boston, for an undisclosed price. The 223-room hotel features 13,300 square feet of meeting space, a full bar and restaurants and an indoor pool. The property recently underwent a renovation of its common areas and Ultima plans to renovate the guestrooms. The name of the seller was not released.
CONCORD, N.H. — Cronheim Hotel Capital has secured $5.9 million in financing for Holiday Inn in Concord. Lisa McMahon and Andrew Stewart of Cronheim Hotel Capital arranged the 10-year loan, which features a 30-year amortization schedule, for the borrower, an affiliate of Chartwell Hotels. Renovated in 2010, the hotel features 122 rooms and 5,300 square feet of meeting space.
NEW YORK CITY — Thor Equities has acquired a retail property located at 51 Greene St. in SoHo for an undisclosed sum. The two-level, 30,000-square-foot building is currently occupied by Arcadia Fine Arts, a gallery specializing in sculptures, paintings and photographs by contemporary artists. The name of the seller was not disclosed.
DENVILLE, N.J. — Marcus & Millichap has arranged the sale of a Denville Strip Center, a retail center located at 28 Diamond Spring Road in Denville. The 8,820-square-foot property sold for $2.5 million. Built in 1990, the property is 100 percent occupied by four tenants. Julienne Pape of Marcus & Millichap’s New Jersey office represented the seller, a developer, and the buyer, a partnership, in the transaction.
NEW YORK CITY — Eastern Consolidated has secured $65 million in debt and equity for a planned mixed-use rental project at 1 Flatbush Ave. in downtown Brooklyn. Developed by Slate Property Group, the 19-story, 172,000-square-foot property will feature 156 one- and two-bedroom rental units, of which 124 will be free market and the remainder will be affordable, and 30,000 square feet of basement, ground- and second-level retail space, as well as a fitness center for residents. Adam Hakim and Sam Zabala of Eastern Consolidated’s Capital Advisory Division arranged the financing for the acquisition and pre-development phases of the project.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a multifamily property located at 286 Clinton Ave. in Brooklyn’s Clinton Hill historic district. The five-story walk-up sold for $8.1 million, or $29 per square foot. The 19,000-square-foot property features 35 residential units. Mark Spinelli, Michael Tortorici, Shimon Shkury, Victor Sozio, Jonathan Bermand and Daniel Tropp of Ariel Property Advisors represented the seller, a Brooklyn-based real estate development and management firm, and procured the buyer, a real estate investment group, in the transaction.
NEW YORK CITY — JMH Development and Madison Estates have received approval from The Landmarks Preservation Commission for the development of a five-story condo project at 70 Henry St. in Brooklyn. The former site of Brooklyn Heights Cinema will be transformed into a luxury condo building designed by Morris Adjmi. JMH Development and Madison Estates acquired the site in November 2014 for $7.5 million.
CLIFTON, N.J. — A private investor has acquired Harbor Freight Center, a retail property located in Clifton, for $5.8 million. The 35,000-square-foot property is located at 1016 Main Ave. Kevin Taub and Michael Lombardi of Marcus & Millichap’s New Jersey office represented the seller, a private investor, while Lombardi also represented the buyer in the transaction.