Northeast

Criterion Selects WinnCompanies to Manage 164-Unit Lumiere in Medford

by Amy Works October 20, 2014

MEDFORD, MASS. — Criterion Development Partners has selected WinnResidential, the property management arm of WinnCompanies, to manage its newest apartment community in Medford. Located on Mystic Valley Parkway, Lumiere consists of 164 residential units with a mix of studio, one- and two-bedroom units. Each apartment features hardwood floors, stone counter tops, expansive tall windows and private patios or balconies. On-site amenities include a swimming pool with sun deck, green deck with community garden, a game area, fitness center and a WiFi lounge with seating for private parties and individual use. The first phase, which is currently open for occupancy, features 48 apartments and the sun deck. The second phase will open in January and the final phase will open in February. WinnResidential manages nearly 500 communities across 23 states nationwide with more than 200 located in Massachusetts.

October 20, 2014

New Jersey Northeast Retail

Marcus & Millichap Arranges $3.7M Sale of Net-Leased Property

by Amy Works October 20, 2014

HACKENSACK, N.J. — Marcus & Millichap has arranged the sale of a net-leased retail property located on Polifly Road in Hackensack. The 10,000-square-foot asset, which is net-leased by CVS, sold for $3.7 million. Michael Lombardi and Greg Babaian of Marcus & Millichap’s New Jersey office listed the property on behalf of the seller, a private investor. Giovanni LaGalia and Scott Plasky of Marcus & Millichap’s Manhattan office secured and represented the buyer in the transaction.

October 20, 2014

New York Northeast Retail

Winick Realty Group Brokers Two Retail Leases at 22 Spring Street in Nolita

by Amy Works October 20, 2014

NEW YORK CITY — Winick Realty Group has brokered the leases of two retail storefronts at 22 Spring St., which is located between Mott and Elizabeth streets in the Nolita neighborhood of New York City. The two 700-square-foot spaces were previously ground-floor apartments and recently underwent renovations to become retail space. Paint Box, an art gallery and custom framing store, and The Clay Pot, a boutique jewelry store, have leased the storefronts. Matthew Ball of Winick Realty Group represented Paint Box, which is opening in October. Andrew Mendel and Lindsay Charles of Ripco represented The Clay Pot, which plans to open in time for the holiday season. Darrell Rubens, Lee Block and Matthew Ball of Winick Realty Group represented the landlord, Samy Manhar, in the transactions.

October 20, 2014

Healthcare New York Northeast

GHP Office Realty Completes 15,000 SF of Medical Leases in White Plains

by Amy Works October 20, 2014

WHITE PLAINS, N.Y. — GHP Office Realty has leased the entire 15,000-square-foot, street-level of 7-11 South Broadway in White Plains. Located in the central business district, the four-story, 70,000-square-foot building has been repositioned to medical use and is now 100 percent leased to medical tenants. Formé Rehabilitation Inc. has signed a long-term lease for 11,500 square feet of space at the building. Gina Cappelli and Bruce Berg of Cappelli Enterprises represented Formé Rehabilitation Inc. Additionally, Broadway Dental Associates inked a long-term lease for the remainder of the floor, approximately 3,500 square feet, for a state-of-the-art dental infrastructure facility. Jamie Schwartz provided in-house representation for the owner, GHP Office Realty, in the deals.

October 20, 2014

Mixed-Use Multifamily New Jersey Northeast Office Retail

LCOR Tops Out Phase I of New Jersey Mixed-Use Project

by Amy Works October 17, 2014

MONTCLAIR, N.J. — LCOR, along with co-developer The Pinnacle Cos., has topped out Phase I of Valley & Bloom, a mixed-use project in Montclair’s central business district. Located at 638 Bloomfield Ave., Valley & Bloom will be comprised of two buildings that will include a total of 258 residential apartments, ranging from studio to two-bedroom units; 20,000 square feet of office space; 22,000 square feet of retail space; and 571 parking spaces. Phase I is on track to be completed by the end of May 2015, with the second building following shortly after. Valley & Bloom is the first phase of the Montclair Center Gateway Redevelopment Plan. The Pinnacle Cos. recently received approval for Phase II, which will include The MC Hotel, part of Marriott International’s Autograph Collection. The MC Hotel is slated to begin construction in 2015.

October 17, 2014

Industrial New Jersey Northeast

Principal Real Estate Investors Buys 216,000 SF Industrial Facility

by Amy Works October 17, 2014

MOONACHIE, N.J. — Principal Real Estate Investors has acquired One Lladro Drive, an industrial facility located in Moonachie, for an undisclosed price. The 216,000-square-foot industrial facility will undergo a major capital improvements program, including improved sprinkler systems, lighting and loading capabilities, to ensure the property as an institutional-quality asset. Principal Real Estate Investors has selected the CBRE team of William Waxman, Mindy Lissner, Matthew Corpuel, Thomas Tucci and Jamie Dennison to rebrand and reposition the property, which will be renamed Tri-State Commerce Center.

October 17, 2014

Loans Multifamily New York Northeast

Eastern Union Funding Arranges $26M in Refinancing for 333 Greene Ave.

by Amy Works October 17, 2014

NEW YORK CITY — Eastern Union Funding has arranged $26 million in refinancing for 333 Greene Ave., a 12-story residential building located in New York City. The 56-unit project, which was bought out of foreclosure in 2013 by Bonjour Capital, is now 99 percent leased. When originally purchased, 333 Greene was an unfinished skeleton of a building. Now the property features lofts and apartments with floor-to-ceiling windows, stainless steel appliances and Caesarstone countertops. Shaya Sonnenschein of Eastern Union Funding arranged and underwrote the loan, which features a fixed 3.45 percent interest rate on a seven-year term. Mercantile Bank provided the loan.

October 17, 2014

New Jersey Northeast Retail

The Fresh Market Opens at The Village of Livingston

by Amy Works October 17, 2014

LIVINGSTON, N.J. — The Fresh Market has opened its third location in New Jersey at The Village at Livingston in Livingston. The store has signed a long-term lease to occupy 23,000 square feet at the 93,000-square-foot shopping center, which is owned and managed by Eastman Cos. Located at 277 Eisenhower Parkway, the shopping center serves a growing residential population of more than 185,000 people within a five-mile radius. The Fresh Market was founded in 1982 and provides a product selection and expert customer service in an atmosphere that is reminiscent of European-style markets. The company currently operates 155 stores in 26 states.

October 17, 2014

New York Northeast Office

FilmRise Acquires 5,000 SF Office Space in Brooklyn

by Amy Works October 17, 2014

NEW YORK CITY — FilmRise, a digital distribution company, has acquired office space at Industrial City in Brooklyn’s Sunset Park neighborhood. Located at 34 35th St., the 5,000-square-foot space was designed by Lester Evan Tour and features a large open floor space, bare ceilings, the original restored 100-year-old wood floors and more than 30 windows overlooking the New York City Harbor and the Statue of Liberty.

October 17, 2014

Multifamily New York Northeast

The Daten Group, Lighthouse Enterprises Open Three Residential Buildings in White Plains

by Amy Works October 16, 2014

WHITE PLAINS, N.Y. — The Daten Group, along with its co-developer Lighthouse Enterprises, is opening three residential buildings in White Plains. The properties will bring more than 100 new apartment units to the city. The properties include the 56-unit La Gianna at 10 DeKalb Avenue, the 24-unit The Dylan at 42 Waller Avenue and the 23-unit The Reed at 115 N. Broadway. On-site amenities include doormen, fitness centers, media rooms, children’s playrooms, playgrounds, barbecue areas and covered parking. The units feature modern, upscale, open layouts with hardwood floors, master bathrooms with double sink vanities, full-size vented washers and dryers, custom Italian kitchens with modern stainless steel appliances, ceasarstone countertops, large bedrooms and closet space. Residents starting moving into La Gianna in October and The Dylan and The Reed will be available for occupancy in December. Rental fees start at $2,050 for studios, $2,300 for one bedrooms and $2,775 for two bedrooms.

October 16, 2014

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