Northeast

Tryko Partners Acquires 100-Unit Age-Restricted Building in Pittsburgh

by Amy Works March 24, 2015

PITTSBURGH — Tryko Partners LLC has acquired Duff Manor, an age-restricted affordable housing property in Pittsburgh from Crossgates Inc. Located at 50 Duff Road, the 10-story Duff Manor Apartments building features 100 one-bedroom residences with air conditioning and a patio or balcony. On-site amenities include intercom-controlled access, a community room and laundry facilities. Marcus & Millichap brokered the transaction. Tryko Partners secured financing for the acquisition through M&T Bank. The acquisition price was not released.

March 24, 2015

Multifamily New York Northeast Retail

GFI Realty Services Brokers $8.9M Sale of Mixed-Use Property in Brooklyn

by Amy Works March 24, 2015

NEW YORK CITY — GFI Realty Services has arranged the sale of a corner mixed-use building in the Dyker Heights section of Brooklyn. Located at 910 81st St., the multifamily and retail property sold for $8.9 million, or $182,000 per residential unit. The four-story walk-up features 43 residential units and two retail spaces. Ben Katz of GFI Realty Investment Sales represented the undisclosed seller, while Erik Yankelovich, also of GFI, represented the buyer, a local investor, in the transaction.

March 24, 2015

Industrial New Jersey Northeast

NAI Mertz Brokers Sale of 156,281 SF Industrial Facility in New Jersey

by Amy Works March 24, 2015

MARLTON, N.J. — NAI Mertz has arranged the sale of a multi-tenant industrial building located at 4 East Stow Road in Marlton. Plymouth Industrial REIT Inc. purchased the 156,280-square-foot facility for an undisclosed price. The property is currently 97 percent leased to a variety of tenants, including Cherry Hill Photo, RiverTech Solutions and MBO America. Situated on 14.54 acres, the property features 22-foot ceiling heights, 22 tailgate loading doors and eight drive-in loading doors. Jonathan Klear and Fred Meyer of NAI Mertz negotiated the transaction. The name of the seller was not released.

March 24, 2015

Multifamily New York Northeast

Kalbridge Associates Sells Manhattan Multifamily Portfolio for $26M

by Amy Works March 23, 2015

NEW YORK CITY — Kalbridge Associates, a joint venture of The Kalikow Group and Waterbridge Capital, has sold three adjoining multifamily buildings located at 113-117 Elizabeth St. in the Nolita section of Manhattan. A.D. Real Estate Investors purchased the 30-unit portfolio for $26 million. Each five-story building features 10 apartments in a mix of two- and three-bedroom layouts. Alex Heydt of TOWN Residential represented the seller, while Joe Messina and Stephen Ferrara, also of TOWN, represented the buyer in the transaction.

March 23, 2015

Multifamily New York Northeast

Eastern Consolidated Brokers $21M Sale of Apartment Building in Queens

by Amy Works March 23, 2015

NEW YORK CITY — Eastern Consolidated has arranged the sale of an apartment building, located at 71-13 60th Lane in the Ridgewood section of Queens. Viking Management purchased the property for $21 million from Bonjour Capital. The 45,800-square-foot building features a mix of one-, two- and three-bedroom units, game room, resident lounge, children’s playroom and a furnished roof deck. Eric Goldberg, Keith Pollock and Eliska Krausova of Olsham Law provided legal counsel for the seller, while Stephen O’Connell of Smith, Gambrell & Russell served as legal counsel for the buyer in the transaction.

March 23, 2015

Massachusetts Northeast Retail

The Grossman Companies Buys Self-Storage Facility in Boston for $8.8M

by Amy Works March 23, 2015

BOSTON — An affiliate of The Grossman Companies Inc. has acquired a self-storage facility in Boston’s Roslindale neighborhood. Located at 34-44 Lochdale Road, the 44,000-square-foot facility features 366 storage units, as well as 17,000 square feet of commercial space that is leased to two tenants. The property was purchased for $8.8 million, including a $6.4 million acquisition loan provided by Brookline Bank. The name of the seller was not released.

March 23, 2015

Connecticut Loans Multifamily Northeast

Colliers Secures $3.9M Loan for Connecticut Multifamily Property

by Amy Works March 23, 2015

HARTFORD, CONN. — Colliers International has secured a $3.9 million loan for Colonial Court Apartments in Hartford. The non-recourse loan features a 75 percent loan-to-cost ratio with a rate of 3.75 percent. Kris Wood, John Banas and Alex Hails of Colliers secured the financing for the undisclosed repeat borrower.

March 23, 2015

Industrial New Jersey Northeast

NAI Hanson Brokers 44,560 SF Industrial Lease in New Jersey

by Amy Works March 23, 2015

RAMSEY, N.J. — NAI Hanson has brokered the lease of 44,560 square feet of industrial space in Ramsey. Glebar Corp. will relocate to the industrial space at 565 Crescent Ave. from Franklin Lakes, N.J. The facility features five tailgates, one drive-in loading dock and 9,400 square feet of office space. Kenneth Lundberg and Patrick Lennon of NAI Hanson represented the property owner, West Essex Industrial Park LLC, while Craig Engelhardt of Savills Studley represented the tenant in the lease transaction.

March 23, 2015

Connecticut Industrial Northeast

HK Group Brokers $57.7M Sale of 825,000 SF Warehouse Center in Connecticut

by Amy Works March 20, 2015

NORTH HAVEN, CONN. — HK Group has brokered the sale of The North Haven Distribution Center, located at 1 N. Frontage Road in North Haven. Boston-based STAG North Haven LLC purchased the property for $57.7 million from New York-based North Haven Inc. Situated on 63.61 acres, the asset consists of two buildings, totaling 825,000 square feet. One property is a large refrigerated produce building with 71 dock height doors and one is a grocery warehouse building with 108 dock height doors. Matthew Keefe and Ricardo Cordido of HK Group were the sole brokers in the transaction.

March 20, 2015

Multifamily New York Northeast

Cushman & Wakefield Brokers $42M Sale of Two Residential Towers in NYC

by Amy Works March 20, 2015

NEW YORK CITY — Cushman & Wakefield has brokered the sale of two residential towers located at 4101 and 4113 Broadway in Manhattan’s Washington Heights neighborhood. The two 12-story towers, totaling 126,005 square feet of commercial space and 125 residential units, sold for $42 million, or $333 per square foot, in an all-cash transaction. The properties feature a mix of 63 one-bedroom units, 36 two-bedroom units and 24 three-bedroom units, as well as seven ground-floor commercial units. Robert Shapiro and Bob Knakal of Cushman & Wakefield handled the transaction. The names of the buyer and seller were not released.

March 20, 2015

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