PHILADELPHIA — Rittenhouse Realty Advisors has arranged the sale of Hill House Apartments in the Chestnut Hill neighborhood of Philadelphia. Equus Partners acquired the property for more than $40 million. Constructed in the 1960s, the property features 188 apartment units. Corey Lonberger of Rittenhouse Realty Advisors represented the undisclosed Austin-based seller in the transaction.
NEW YORK CITY — Cushman & Wakefield has brokered the sales of two multifamily properties located in Manhattan. The assets sold for a combined total of $24 million, or $1,132 per square foot, in two all-cash transactions. In the first transaction, D&B Kearney LLC sold a four-story, 5,820-square-foot property at 413 E. 78th St. for $5.7 million. The property features 12 residential units, 10 of which are free market, two rent stabilized and one owner occupied. Brock Emmetsberger and Thomas Gammino Jr. of Cushman & Wakefield brokered the transaction. The name of the buyer was not released. In the second transaction, an undisclosed seller sold a six-story, 15,910-square-foot property located at 328 W. 19th St. in Manhattan’s Chelsea neighborhood to an undisclosed buyer for $18.5 million. The property consists of 24 residential units, of which 21 are free market and three are rent stabilized. The unit mix consists of 21 one-bedroom units, two studios and one two-bedroom apartment. Emmetsberger handled the transaction.
LONG BEACH, N.Y. — Capital One Bank has provided an $18 million, fixed-rate loan to refinance Executive Towers at Lido in Long Beach. The borrower, the Walton Family, will use the seven-year loan, which features a 25-year amortization schedule, to replace an existing loan that was closed in 2010. The 276-unit beachfront apartment consists of two adjacent, seven-story apartment buildings with community amenities, including a pool, sauna, community room and doorman. Robert Akalski of Capital One Bank’s Melville, N.Y., office originated the transaction.
HARTFORD, CONN. — EagleBridge Capital has arranged the sale of Saint Francis Information Technology and Finance Center in Hartford. Located at 103 Woodland St., the five-story, 57,753-square-foot office property sold for $20.7 million. The building is triple-net leased to Saint Francis Hospital & Medical Center on a long-term basis and houses administrative, information technology and finance offices. In addition, EagleBridge Capital arranged $15 million in permanent mortgage financing for the property. Ted Sidel and Brian Sheehan of EagleBridge Capital arranged the sale and financing.
NEW YORK CITY — Megalith Capital Management and Urban Realty Partners have launched sales for 200 Water Street, a six-story boutique residential building in Brooklyn’s historic DUMBO neighborhood. The property includes 15 gallery-style condominiums featuring two, three or four bedrooms with expansive windows and up to 14-foot high ceilings. Converted from a former 1950s Brillo steel wool factory, 200 Water was designed by Gil Even-Tsur’s Architecture Workshop and Aufgang Architects. The building’s penthouse feature roof decks, terraces and floor-to-ceilings windows. On-site amenities include a fitness center, landscaped garden, bike storage and a doorman.
NEW BEDFORD, MASS. — Fantini & Gorga has arranged $13.5 million in permanent financing for Riverbank Lofts, a former mill that was converted to an apartment property in New Bedford. Situated on 6.5 acres, the three-story property features 126 units in a mix of one-, two- and three-bedroom layouts, a 160-vehicle garage, a fitness center and a common room. The units feature high ceilings, exposed wide plank hardwood floors and stainless steel appliances. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower.
DUMONT, PALISADES PARK AND BELLEVILLE, N.J. —Redwood Realty Advisors has brokered the sales of three apartment buildings, totaling 49 units and $6.5 million, in New Jersey. In Dumont, a 22-unit apartment building sold for $3 million and a cap rate of 5.9 percent. In Palisades Park, an 11-unit property sold for $2 million, or $184,000 per unit, and a cap rate of 5.7 percent. Finally in Belleville, a 16-unit garden complex property sold for $1.4 million and a cap rate of 6.5 percent. Michael Scrima and Jeremy Wernick of Redwood Realty Advisors handled the transactions. The names of the sellers and buyers were not released.
ASTORIA, N.Y. — Marcus & Millichap has brokered the sale of an apartment building located at 25-22 38th St. in Astoria. The three-unit apartment building sold for $1.6 million. Shaun Riney, James Saros and Daniel DeGiovanni of Marcus & Millichap’s Brooklyn office represented the seller, a developer, while Riney, Saros, DeGiovanni and Robert Hunter, also of Marcus & Millichap, secured and represented the buyer, a developer, in the transaction.
NEW YORK CITY — Kalmon Dolgin Affiliates has arranged a 9,000-square-foot lease for Izzy Rodriguez at 2302 Neptune Ave. in Brooklyn’s Coney Island neighborhood. The asset is comprised of a 5,000-square-foot building and a 4,000-square-foot parking lot. The property, which renovated after Superstorm Sandy, also features two portable lifts and air compressors. Izzy Rodriguez specializes in the restoration and refurbishing of exotic cars. Robert Klein of Kalmon Dolgin Affiliates represented the owner, Jeff Cohen, and the tenant, Izzy Rodriguez, in the transaction.
CAMBRIDGE, MASS. — bluebird bio Inc. has signed a 10-year lease with Alexandria Real Estate Equities Inc. to occupy a 253,000-square-foot, build-to-suit property at 60 Binney St. at Alexandria Center at Kendall Square campus in Cambridge. The lease is for the entire 60 Binney Street building except for a ground-floor retail suite. The project is on track to be delivered in late 2016. bluebird bio, a clinical-stage biotechnology company, plans to relocate its headquarters to the new facility, which will also expand its presence in Cambridge. The Alexandria Center at Kendall Square is a fully integrated urban campus featuring 2.3 million rentable square feet of state-of-the-art office/laboratory space and high-quality amenities, including retail and restaurant facilities, a 33,000-square-foot Cambridge Athletic Club and two acres of open space.
