NEW YORK CITY — Keen Realty has partnered with Summit Investment Management LLC to form Keen-Summit Capital Partners LLC (Keen-Summit). Keen-Summit’s offerings will include real estate transactional and advisory services, corporate finance services and capital solutions. Keen-Summit is based in the New York City metro area, while Summit Investment will continue to be based in Denver.
STAMFORD, CONN. — Institutional Property Advisors (IPA) has brokered the sale of Avalon on Stamford Harbor, a multifamily property located in Stamford. The property sold for $115.5 million, or $357,585 per unit. Located at 150 Southfield Ave., the waterfront property features 323 residential units, a marina and 72 boat slips. Steve Witten and Victor Nolleti of IPA, a division of Marcus & Millichap, represented the buyer, TGM Anchor Point LLC, in the transaction. The seller was Harbor Financing LLC.
NEW YORK CITY — Rosewood Realty Group has arranged the sale of a four-building, 283-unit apartment complex located at 1711-1751 Fulton St. in Brooklyn’s Bedford-Stuyvesant neighborhood. Bushburg Properties purchased the 277,200-square-foot complex for $38 million from E&M Associates. In addition to the residential space, the property features nine commercial units, as well as parking spaces. Aaron Jungreis of Rosewood Realty Group represented both parties in the transaction.
NEW YORK CITY — RKF has arranged the sale of a retail and office property located at 497 Broome St. in New York City’s SoHo district. John Dee Corp. sold the 5,700-square-foot property to an undisclosed buyer for $18.75 million. The former home of The Original Teddy Bear factory, the property features 1,200 square feet of ground-floor retail space and 4,500 square feet of office space. Brian Segall and Chris Masi of RKF represented both parties in the 1031 exchange transaction.
POTTSTOWN, PA. — CBRE has brokered the sale of Pottstown Plaza, a shopping center located in Pottstown. The Cotswold Group purchased the 159,327-square-foot center from Hudson Advisors for an undisclosed price. Current tenants include Tractor Supply, Applebee’s and Fulton Bank. Kevin McClernon and Peter Stevens of CBRE represented both the buyer and the seller in the transaction.
NEW YORK CITY — GFI Realty Services has brokered the sale of a three-story walk-up apartment building located at 255 Himrod St. in Brooklyn’s Bushwick neighborhood. The vacant property, which is fully renovated, sold for $1.95 million or $325,000 per unit. Constructed in 1931, the property features six apartment units. Daniel Shragaei of GFI represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
PARSIPPANY, N.J. — Colliers has arranged the sale of Intel Corporate Center, a two-building office property located at 1515 Route 10 in Parsippany. An affiliate of Stanbery Development and developer/owner of The Shoppes at Union Hill in Denville, N.J., acquired the property for $14.1 million. The two three-story buildings, which total 288,742 square feet, are currently leased to Intel Corp. through the end of the year. On-site amenities include a full-service cafeteria, professional gym facility, conference areas and an outdoor terrace with seating. Jacklene Chesler, Richard Madison, Jeffrey Oram and Chuck Kohaut of Colliers represented the undisclosed seller in the transaction.
NEW YORK CITY — Empire State Realty Trust Inc. has announced that OnDeck Capital Inc. has expanded its headquarters space by approximately 79,000 square feet at 1400 Broadway by in New York. The company, a platform for small business loans, will now occupy 117,000 square feet within the property. Paul Ippolito of Newmark Grubb Knight Frank represented OnDeck in the lease negotiations, while Keith Cody of ESRT, along with Scott Klau, Erik Harris and Neil Rubin of Newmark Grubb Knight Frank, represented the landlord.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of the Vanguard Retail Portfolio, a three-building portfolio in Queens. The properties, which total 44,858 square feet, were sold in all-cash transactions totaling $23.8 million, or $530 per square foot. The 18-unit, 33,698-square-foot property at 221-02/50 Horace Harding Expressway sold for $17 million. The seven-unit, 8,970-square-foot property, located at 137-67/79 Queens Blvd./138-09 84th Dr., sold for $5.6 million. The third property, located at 138-07/11 Queens Blvd., sold for $1.2 million. Thomas Donovan, Stephen Preuss and Brian Sarath of Cushman & Wakefield negotiated the transaction. The buyer was an undisclosed local investor.
WEST ORANGE, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 640-642 Eagle Rock Ave. in West Orange. The 11,348-square-foot property sold for $2.7 million. Michael Lombardi of Marcus & Millichap represented the seller, a private investor, and Michael Rothstein, also of Marcus & Millichap, represented the buyer, a private investor, in the all-cash 1031 exchange.