Northeast

Ariel Property Advisors Brokers Two Sales Totaling $4.8M in Queens

by Amy Works March 6, 2015

NEW YORK CITY — Ariel Property Advisors has brokered two sales in Queens totaling $4.8 million. In the first transaction, the firm negotiated the sale of a development site with approved plans, located at 14-23 Broadway in Astoria, for $1.95 million. The 25-foot by 136-foot vacant lot is zoned for 13,620 buildable square feet of mixed-use or residential development. Daniel Wechsler, Michael Tortorici, Howard Raber, Marko Agbaba and Victor Sozio of Ariel Properties represented the seller and procured the buyer, both real estate investment groups, in the transaction. In the second deal, a retail site at 175-42 Hillside Ave in Jamaica sold for $2.85 million. The 100-foot by 100-foot lot includes a 2,054-square-foot building that is leased to KFC Corp. on a triple-net lease basis. Additionally, the site offers a total of 40,000 buildable square feet for future development. Tortorici, Wechsler, Agbaba and Sozio represented the seller, a real estate investment firm, and procured the buyer, a private investor, in the transaction.

March 6, 2015

Industrial Northeast Pennsylvania

NAI Mertz Arranges Sale of 11,800 SF Industrial Facility in Philadelphia

by Amy Works March 6, 2015

PHILADELPHIA — NAI Mertz has arranged the sale of an industrial facility, located at 2729 E. Butler St. in Philadelphia. Crown Poultry purchased the 11,800-square-foot facility from KTKS LLC for an undisclosed price. The property is outfitted for food manufacturing and distribution, complete with refrigerated cooler and freezer spaces. The property features 12- to 24-foot clear ceiling heights, a small office area, three tailgate truck doors with dock levelers and one drive-in door. The buyer plans to use the facility for food manufacturing and distribution. Jeffery Licht and Adam Lashner of NAI Mertz represented the seller in the transaction.

March 6, 2015

Massachusetts Northeast Office

MTA Leases 46,000 SF at Heritage Landing in Quincy, Mass.

by Amy Works March 6, 2015

QUINCY, MASS. — Massachusetts Teachers Association (MTA) has signed a long-term lease for office space at Heritage Landing in Quincy. MTA will utilize the top two floors, totaling 46,000 square feet, as its new headquarters. The space is being designed to meet the needs of MTA. Project partners include Spagnolo Gisness & Associates Inc. and WB Engineers Consultants. MTA is slated to take occupancy of the space in November. Sean Lynch of JLL represented the tenant in the deal. Peter Brown of Campanelli along with Mike Frisoli, Matthew Morgan, Dave Martel and Molly Davis of Cushman & Wakefield represented the owner, Campanelli, in the transaction. Additional terms of the transaction were not released.

March 6, 2015

Industrial New York Northeast

Quinlan, BLT Buy 257,000 SF Self-Storage Facility in Brooklyn for $90M

by Amy Works March 5, 2015

NEW YORK CITY — Quinlan Development Group and Building & Land Technology (BLT) have purchased 37-53 Flatbush Avenue, also know as 76-92 Rockwell Place, in Brooklyn for $90 million. The buyers plan to convert the property, which is currently a 355-unit self-storage facility, into Class A creative office space. The property is located on top of the Atlantic Terminal, which offers NYC Subway and Long Island Railroad service. Andrew Sasson of Eastern Consolidated procured the seller, while Ben Tapper, also of Eastern Consolidated, represented the buyers in the transaction.

March 5, 2015

Loans Mixed-Use New York Northeast

HFF Arranges $42M Acquisition Loan for Mixed-Use Property in Manhattan

by Amy Works March 5, 2015

NEW YORK CITY — HFF has arranged $42 million in acquisition financing for a mixed-use property located at 1035 Third Ave. in Manhattan’s Upper East Side. HFF secured the six-year, floating-rate loan from Helaba Bank for Acadia Realty Trust. The funding was used for the acquisition and to reposition the property. The approximately 53,000-square-foot property features retail, office and parking space. Mike Tepedino, Jennifer Keller and Andrew Lane of HFF represented the borrower in the loan transaction.

March 5, 2015

Massachusetts Multifamily Northeast

Berkshire Income Realty Acquires Gatehouse 75 in Boston

by Amy Works March 5, 2015

BOSTON — Berkshire Income Realty has acquired Gatehouse 75, an apartment community located in the Charlestown neighborhood of Boston. Metric Corp. sold the 99-unit Class A apartment community for an undisclosed price. Completed in 2014, Gatehouse 75 features a clubroom, fitness center and roof deck, as well as underground parking. Additionally, the property is located near Boston’s North End, Financial District, Government Center, Cambridge and Somerville neighborhoods.

March 5, 2015

Multifamily New York Northeast

GFI Realty Brokers $4.6M Sale of 18-Unit Multifamily Property in Manhattan

by Amy Works March 5, 2015

NEW YORK CITY — GFI Realty Services has brokered the sale of a five-story apartment building located at 469 West 153rd St., also known as 1881 Amsterdam Avenue, in the Hamilton Heights section of Manhattan. A local investor purchased the property, which features 18 residential units and a retail unit, for $4.6 million. Shawn Sadaghati and Yisroel Pershin of GFI Realty Services represented the seller, a local investor, while Sylvia Spielman of GFI Realty represented the buyer in the transaction.

March 5, 2015

Loans Multifamily New Jersey Northeast

Integra Real Estate Capital Arranges $3.6M in Refinancing for Apartment Building

by Amy Works March 5, 2015

BLACKWOOD, N.J. — Integra Real Estate Capital has arranged a $3.6 million mortgage for the refinancing of Scenic Falls Apartments, a 100-unit multifamily property located in Blackwood. The 7-year loan, provided by a New Jersey portfolio lender, features a 3.75 percent fixed rate. Igor Goldenberg of Integra negotiated the financing on behalf of a New York-based borrower.

March 5, 2015

Industrial New York Northeast

Madison Realty Capital Acquires 215,000 SF Warehouse Facility in Brooklyn

by Amy Works March 4, 2015

NEW YORK CITY — Madison Realty Capital has acquired a warehouse facility located at 29 Ryerson St. in Brooklyn’s Wallabout neighborhood. The vacant eight-story loft property sold for $45 million. MRC plans to convert the 215,000-square-foot property into Class A office space for creative/technology clients. The property features 15-foot ceiling heights, 440 feet of frontage on Ryerson Street and 110 feet of frontage along Flushing Avenue. The name of the seller was not released in the off-market transaction.

March 4, 2015

Northeast Pennsylvania Retail

CBRE Brokers $24.5M Sale of Lawndale Plaza in Philadelphia

by Amy Works March 4, 2015

PHILADELPHIA — CBRE has brokered the sale of Lawndale Plaza, a 93,282-square-foot retail center in Philadelphia. Highland Development Group and The Glenville Group sold the property for $24.5 million to Cedar Realty Trust. Developed in 1998, the property is anchored by a 63,342-square-foot ShopRite. Additional tenants at the 100 percent occupied property include Advance Auto Parts, T-Mobile and Dunkin’ Donuts. Brad Nathanson and Tom Gorman of CBRE represented both parties in the transaction.

March 4, 2015

Newer Posts

Older Posts