WHITE PLAINS, N.Y. — NorthMarq Capital’s Greater Westchester New York/Connecticut office has arranged $4.2 million in refinancing for a retail property located at 350-360 Tarrytown Road in White Plains. The 10-year loan, provided by a local bank, features a 30-year amortization schedule. The 18,056-square-foot retail center is anchored by a Men’s Wearhouse. Robert Ranieri of NorthMarq Capital arranged the financing on behalf of the undisclosed borrower.
SHREWSBURY, MASS. — CBRE/New England has arranged the sale of White City Shopping Center located in Shrewsbury. A joint venture between Charter Realty & Development and Acadia Realty Trust sold the property for $97 million. The 260,000-square-foot retail center is fully occupied by a variety of tenants, including Shaw’s Supermarket, Petco, Dress Barn, The Paper Store, Planet Fitness and Austin Liquors. Chris Angelone, Bill Moylan and Nat Heald of CBRE/NE represented the seller and procured the undisclosed buyer in the transaction.
HOBOKEN, N.J. — Advance Realty has started vertical construction at Willow14, a mixed-use development in Hoboken. Located at the corner of 14th Street and Willow Avenue, the seven-story building will feature 140 apartments, 20,000 square feet of retail space and a four-story, below-grade parking garage. The project’s residential component will feature a mix of studio, one-, two- and three-bedroom units, an outdoor pool, landscaped pool deck, fitness center, outdoor terrace areas with barbecues, bike racks and on-site parking. Completion is slated for first quarter 2016.
SOUTH PORTLAND, MAINE — Fantini & Gorga has arranged $6.6 million in permanent financing for a multifamily property located in South Portland. Originally built in 1943 as World War II housing, the property features 24 two-story buildings offer a total of 95 one-bedroom apartments. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.
HAMMONTON, N.J. — Marcus & Millichap has brokered the sale of an apartment community located in Hammonton. The 72-unit Colonial Court Apartments sold for $5.1 million. The buyer, a New Jersey-based builder, plans to address and correct the property’s deferred maintenance and structural issues. Nat Gambuzza of Marcus & Millichap represented the seller, a private investor, and the buyer in the transaction.
NEW YORK CITY — Los Angeles-based Thorofare Capital has funded a $4.2 million adaptive reuse loan for a mixed-use property located in Brooklyn’s Bushwick neighborhood. The undisclosed borrower plans to implement a capital improvement program at the property, located at 599 Johnson Ave., to convert the asset into entertainment, food and beverage and retail use.
JERSEY CITY, N.J. — Fisher Development Associates has broken ground for the construction of the first phase of 33 Park Avenue, 44-story residential tower on the Gold Coast of downtown Jersey City. Designed by Perkins Eastman, the 448-unit tower is part of a two-building project in Jersey City’s Liberty Harbor North area. 33 Park Avenue will feature a mix of studio, one- and two-bedroom residential units, ranging from 550 to 1,200 square feet; a 24-hour concierge; an outdoor pool, lounge and landscaped deck; a children’s playroom; cyber café; business center; conference room; screening room; and bicycle and general storage space. The residential tower is slated for completion in spring 2017. At total build out, the two-phase project will feature 900 rental residences, retail space, a state-of-the-art health club, indoor and outdoor screening areas and a full-size sports court. Additional plans for the project include the development of a 267-room Marriott hotel by Tramz Hotels.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a walk-up apartment building, located at 630 Hudson St. in New York City’s Greenwich Village. 630 Hudson LLC purchased the property for $6.6 million from Hudson Unity LLC. The four-story, 6,158-square-foot residential building features six one-bedroom apartments, five of which are rent stabilized, a basement and ground-floor retail space. Gabriel Saffioti of Eastern Consolidated represented the buyer, while Andrei Danshes and Roberto Ortiz, also of Eastern Consolidated, represented the seller in the transaction.
NEW YORK CITY — Houlihan-Parnes Realtors has brokered the sale of an apartment building located at 2275 Morris Ave. in the University Heights neighborhood of the Bronx. A Great Neck, Long Island-based real estate holding company purchased the building for $2.7 million from an undisclosed seller. The five-story walk-up building features 25 apartment units and five ground-floor retail units. The buyer facilitated the acquisition with a five-year loan, which features a 3.5 percent interest rate and a 30-year amortization schedule. Jeremiah Houlihan negotiated the transaction. The seller was represented by Valentin Djonovic P.C. and the buyer was represented by James Prince, Esq.
MILFORD, CONN. — Gramercy Property Trust has acquired a 24,700-square-foot facility located at 250 Research Dr. in Milford. Darobara Milford LLC and 95 CT LLC sold the property for an undisclosed price. FedEx currently occupies the property. Lew Finkelstein and CJ Huter of The Goldstein Group represented the seller in the transaction.
