NEW YORK CITY — Madison Realty Capital has provided $107.2 million in first mortgage financing for the first phase of Fortis Property Group’s acquisition of the Long Island College Hospital (LICH) real estate portfolio in Brooklyn. Collateral for the loan is a mix of former LICH properties comprising 357,000 square feet of retail, medical office and residential space, as well development sites. The properties are located at 91-95 Pacific St., 350-352 Hicks St., 349 Henry St., 112 Pacific St., 82 Amity St., 84 Amity St., 124-134 Atlantic Ave., 113 Congress St., 336 Flatbush Ave. and 184 Sterling Place. Madison Realty provided Fortis with a flexible financing solution to facilitate the acquisition, which is the culmination of a complex, multi-party deal related to the LICH portfolio. David Harte of Ackman-Ziff represented Fortis in the transaction.
NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $1 million loan for a retail property located at 3600-3614 White Plains Road in the Bronx’s Gun Hill section. The 6,500-square-foot property features a 5,335-square-foot building consisting of five retail spaces. The loan was placed with a savings bank at a five-year interest rate of 3.2 percent on a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes Realtors arranged the loan for the undisclosed borrower.
NEW YORK CITY — Colliers International has arranged a long-term retail lease for 3,295 square feet at 223 E. 59th St. in New York City’s Upper East Side. London-based Savoir Beds will open its first company-owned store in New York at the location this fall. First created for The Savory Hotel in London in 1905, the company’s tailor-made beds are recognized as one of the world’s most luxurious sleeping systems. Peter Simel, James Emden and Timothy Pond of Colliers represented the tenant in the transaction. The name of the landlord was not released. Savior’s U.S. flagship store opened in SoHo earlier this year.
ROCKY HILL, CONN. — O,R&L Commercial has brokered the sale of an office building located at 2264 Silas Denne Highway in Rocky Hill. The 15,570-square-foot property sold for $610,000. The buyer, NAJO92 Holdings LLC, plans to use the property for its various businesses. Robert Gaucher of O,R&L Commercial represented the seller, 264 SDH LLC, in the transaction. The buyer was self-represented.
NEW YORK CITY — Target Corp. has signed a 15-year lease with Muss Development for 20,795 square feet of space at 7000 Austin Street, a mixed-use property located in the Forest Hills section of Queens. The new flexible-format store — the first in the city — is slated to open in mid-2016. The two-story Target will feature an assortment of goods tailored to city dwellers, including fresh groceries, a pharmacy, health and beauty necessities, tech accessories, electronics and home goods designed for single-family homes and condos. Target will take the space currently occupied by Barnes & Noble, which declined to exercise an extension option. Additional tenants at the fully leased property include Starbucks Coffee, Men’s Wearhouse, Eddie Bauer, TITLE Boxing Club and T.G.I. Friday’s. Jeffrey Howard and Doug Weinstein of Ripco Real Estate represented Target, while Muss Development had in-house representation for the transaction.
LOWELL, MASS. — Fantini & Gorga has arranged $2.7 million in permanent financing for Embassy House Apartments in Lowell. The three-building property features 36 one- and two-bedroom market-rate apartments. Originally built in the early 1960s, the property underwent an extensive exterior/interior and building systems upgrade in 2003. Derek Coulombe, Tim O’Donnell and Jason Cunnane of Fantini & Gorga arranged the financing for the undisclosed borrower.
GREAT NECK, N.Y. — Houlihan-Parnes Realtors has arranged a $1.5 million first mortgage loan for an apartment building located at 15 Beach Road in Great Neck. Built in 1950, the three-story building includes 54 apartments, on-site outdoor parking spots, 27 garages, gardens and a courtyard. The seven-year loan, which was placed with a savings bank, features a fixed interest rate of 3.5 percent and a 30-year amortization schedule. Jeremiah Houlihan of Houlihan-Parnes secured the financing for the undisclosed borrower.
WYNCOTE, PA. — Philadelphia Rock Gym (PRG) has inked a multi-year lease for a 10,000-square-foot warehouse facility, located at 827 Glenside Ave., Suite 200 in Wyncote. The facility will be PRG’s fourth rock climbing location in the greater Philadelphia area. PRG is an indoor rock climbing gym known for its state-of-the-art climbing walls, full-service fitness centers and private party wall rentals. Swope Lees Commercial represented the tenant in the transaction with the landlord, Midgard Properties LP.
NEW YORK CITY — lululemon athletica inc. has leased 6,400 square feet of retail space at 50 Bond St. in New York City’s NoHo district. The athletic apparel company will occupy the space that Eva Scrivo Salon is vacating. The two-level retail unit features 13-foot ceilings on the ground floor and more than 30 feet of frontage on Bond Street. Designed by Cleverdon & Putzel and built in 1896, the property also features six full-floor residential condominiums. The landlord, Thor Equities, recently acquired the retail unit. Terms of the lease were not released. Eva Scrivo Salon is relocating to 5,500 square feet at 193 Fifth Ave. in the Flatiron district.
IRVINGTON, MONTCLAIR AND EAST ORANGE, N.J. — Gebroe-Hammer Associates has arranged the sales of four multifamily properties, totaling 176 units, across Essex County, N.J. The Livingston-based firm represented the sellers, private investors, in each transaction. In the first transaction, David Oropeza of Gebroe-Hammer arranged the $5.6 million sale of a two-property multifamily package in Irvington. Located at 336 and 505-515 Stuyvesant Ave., the six-building portfolio features 120 units, on-premise parking, garages, on-site laundry and balconies. Oropeza represented the seller and secured the buyer in the deal. Also in Irvington, David Jarvis of Gebroe-Hammer brokered the sale of a three-story walk-up at 649 Chancellor Ave. The property features 14 renovated studio apartments and two ground-floor retail units. Terms of the sale, including buyer, seller and price, were not released. In the third transaction, a two-building portfolio, located at 97 and 101 Pine St. in Montclair, sold for $4 million. The 28-unit portfolio features a mix of studio, one- and two-bedroom floor plans with modern kitchen and baths, as well as hardwood flooring. Ken Uranowitz and Nicholas Nicolaou of Gebroe-Hammer handled the transaction. The names of the seller and buyer were not disclosed. In the final transaction, Oropeza and Jarvis negotiated the …