Northeast

CBRE Arranges $17.7M Sale of Connecticut Multifamily Property

by Amy Works March 30, 2015

BROOKFIELD, CONN. — CBRE Group has brokered the sale of Towne Brooke Commons, a multifamily property located in Brookfield. The Silverman Group purchased the 102-unit property for $17.7 million from Harbor Group International. Built in 2009, the property features open floor plans with high ceilings, spacious kitchens, walk-in closets and full-size washers/dryers. Community amenities include a clubroom, fitness center, outdoor pool, business center and heated parking. Jeffrey Dunne, Gene Pride and Ivelin Spasov of CBRE’s Institutional Properties group represented the seller in the transaction.

March 30, 2015

New York Northeast Retail

Ariel Property Advisors Arranges $5.1M Sale of Retail Property in the Bronx

by Amy Works March 30, 2015

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a retail property located at 3860 East Tremont Ave. in the Throgs Neck section of the Bronx. Ashkenazy Acquisition Corp. acquired the 15,000-square-foot property for $5.1 million. The vacant property features 23,618 square feet of air rights, 38,618 buildable square feet, 40 on-site parking spaces and an advertising tower. Jason Gold, Victor Sozio and Scot Hirschfield of Ariel Properties represented the seller, a private investor, and procured the buyer in the deal.

March 30, 2015

Healthcare Massachusetts Northeast Office

Savills Studley Negotiates 50,500 SF Office Lease in Peabody, Mass.

by Amy Works March 30, 2015

PEABODY, MASS. — Barton Associates has signed a lease for 50,500 square feet of medical office space at 300 Jubilee Dr. in Peabody. The firm plans to relocate its headquarters to the new space in April. With the relocation, the medical practice is doubling its existing office space at 10 Dearborn Road. Demetri Koutrouvelis and Nicole Miller of Savills Studley represented Barton Associates in the transaction.

March 30, 2015

Massachusetts Northeast Retail

Dividend Capital Acquires South Cape Village for $35.5M

by Amy Works March 27, 2015

MASHPEE, MASS. — Dividend Capital has acquired South Cape Village, a retail center in Mashpee, from Mashpee Investors LLC for $35.5 million. The 143,477-square-foot lifestyle center features a variety of tenants, including Roche Brothers, Marshalls, Walgreens, Olympia Sports and Santander Bank. Robert Griffin, Geoffrey Millerd and Justin Smith of Cushman & Wakefield negotiated the transaction on behalf of Mashpee Investors LLC.

March 27, 2015

Massachusetts Northeast Office

Transwestern | RBJ Brokers $22.3M Sale of Two Office Buildings in Massachusetts

by Amy Works March 27, 2015

WALTHAM, MASS. — Transwestern | RBJ has brokered the sale of two office buildings, located at 1432 and 1440 Main St. in Waltham. Charles River Realty Investors and Crosspoint Associates Inc. sold the properties to Ferris Development for $22.3 million. The two-building portfolio totals 134,839 square feet of office space and is 90 percent occupied. Ferris Development plans to upgrade the base infrastructure of the buildings and make cosmetic improvements to the lobbies, common areas and restrooms. Chris Skeffington, Ron Friedman and Roy Sandeman of Transwestern | RBJ represented the seller and procured the buyer in the transaction.

March 27, 2015

Mixed-Use New York Northeast

Kinsey Capital Arranges Sale of Upper East Side Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Kinsey Capital has arranged the sale of a mixed-use property, located at 808 Lexington Ave. in Manhattan’s Upper East Side. An affiliate of ICON Realty Management purchased the property for $9.7 million, or $1,500 per square foot. Fig & Chain occupies the retail portion of the building. Brent Glodowski and James Kinsey of Kinsey Capital were the sole brokers in the transaction.

March 27, 2015

Massachusetts Multifamily Northeast

Boston Capital Invests in Affordable Multifamily Property in Boston

by Amy Works March 27, 2015

BOSTON — Boston Capital is investing in the construction of Patriot Homes, an affordable multifamily community in Boston. General partners for the 24-unit property are Braintree, Mass.-based Caritas Communities and Boston-based South Boston Neighborhood Development Corp. Located in the South Boston neighborhood, the property will feature 12 studios, two one-bedroom units and 10 two-bedroom units. Community amenities will include a community room with a kitchen and a common laundry facility room. Patriot Homes will be built with tax credit equity from the Low Income Housing Tax Credit program, offering homes to veterans, individuals and families earning 60 percent or less of the area median income.

March 27, 2015

Mixed-Use New York Northeast

Cushman & Wakefield Arranges Sale of East Harlem Mixed-Use Property

by Amy Works March 27, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of a mixed-use building, located at 2147 Second Ave. in Manhattan’s East Harlem neighborhood. The nine-story building sold for $7.5 million, or $465 per square foot, in an all-cash transaction. The newly constructed 16,128-square-foot property features 16 residential units and 1,950 square feet of ground-level commercial space. Lev Kimyagarov of Cushman & Wakefield represented the seller, while Edmond Levy of Cornerstone Real Estate Investments represented the seller in the transaction. The names of the seller and buyer were not released.

March 27, 2015

Industrial Northeast Pennsylvania

Ridgeline Property Group to Develop 423,300 SF Susquehanna Logistics Center

by Amy Works March 26, 2015

YORK, PA. — Ridgeline Property Group has partnered with Cabot Properties to develop a 423,300-square-foot speculative industrial building in York. Situated on 51 acres on Second Amendment Drive, Susquehanna Logistics Center will offer tenants immediate access to Interstate 83. The facility will feature 32-foot clear heights, 87 dock doors, 52-foot by 54-foot column spacing, ESFR fire sprinklers and parking for 179 cars and 146 trailers. Construction is slated to begin in late March with completion scheduled for December. Patrick McBride and Gerry Blinebury of Cushman & Wakefield have been retained to market the property.

March 26, 2015

Multifamily New York Northeast

Shamah Properties Buys Eight-Building Multifamily Portfolio in Manhattan

by Amy Works March 26, 2015

NEW YORK CITY — Shamah Properties has acquired an eight-building multifamily portfolio for $44 million from Brooklyn, N.Y.-based E&M Associates. Located in Manhattan’s Washington Heights neighborhood, the 138,214-square-foot, 184-unit portfolio includes 535-539 West 162nd Street, 522-536 West 147th Street and 521-523 West 156th St. Steven Vegh of Westwood Realty Associates represented both the seller and buyer in the transaction. Additionally, Edward Setton of Shamah Properties negotiated the purchase and financing on behalf of the buyer. Shamco Management, Shamah Properties’ in-house management company, will manage the assets.

March 26, 2015

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