HOBOKEN, N.J. — HFF has arranged $70 million in financing for Curling Club Apartments, a 240-unit, Class A multifamily community in Hoboken. Curling Club Apartments consists of four five-story residential buildings and includes two-bedroom units. HFF worked on behalf of the undisclosed borrower to secure the fixed-rate loan through Nationwide Life Insurance Co. HFF brokered the sale of the asset to the borrower in June 2014. Jon Mikula, Tom Didio and Samuel Seiden led the HFF debt placement team representing the borrower.
Northeast
NEW YORK — Related Cos., Oxford Properties Group and Neiman Marcus Group Inc. plan to open a flagship Neiman Marcus store on Manhattan’s west side at Hudson Yards. The 250,000-square-foot, multi-level store is scheduled to open in 2018 and will be the first for the brand in New York City. The three-level Neiman Marcus will anchor the 1 million-square-foot Shops at Hudson Yards. Related Cos. and Oxford Properties Group developed the 28-acre Hudson Yards, which includes more than 17 million square feet of commercial and residential space. The property also features more than 100 shops and restaurants, approximately 5,000 residences, a 750-seat public school and a 175-room luxury hotel.
WESTBOROUGH, MASS. — Ferris Development Group has arranged a seven-year, 114,000-square-foot lease to bring Genzyme to One Research Drive in Westborough. Genzyme will be relocating operations from its offices in Framingham, Mass., with an expected move-in during the fourth quarter of 2014. Since February, Ferris Development and Transwestern | RBJ have signed five leases, raising the building’s occupancy to 93 percent. John Lashar and Paul Leone, along with Danielle DeMarco of Transwestern | RBJ, represented Ferris Development. Louis Kluger, Jeff Zell and Marc Sobel of JM Zell represented Genzyme in the transaction.
COMMACK, N.Y. — Stein Mart has signed a 30,800-square-foot- lease at the Mayfair Shopping Center in Commack. Jake Frantzman of Levin Management negotiated the transaction. SRS Real Estate Partners represented the tenant. Stein Mart will move into the space formerly occupied by MJM Designer Shoes. A 60,000-square-foot Waldbaum's supermarket anchors the 221,000-square-foot Mayfair Shopping Center.
NEW YORK CITY — DiamondRock Hospitality Co. has acquired the 282-room Hilton Garden Inn/Times Square Central in New York for $127.2 million, or $451,000 per guestroom. The hotel, located on 42nd Street between Avenue of the Americas and Broadway in the heart of Times Square, opened this month. The hotel features floor-to-ceiling glass windows and each guestroom features a 50-inch LCD HDTV, refrigerator, microwave and other amenities. The hotel also includes a 24-hour self-service business center and fitness facility. DiamondRock Hospitality Co. expects the hotel to generate approximately $5 million of adjusted earnings before interest, taxes, depreciation and amortization in 2014. Highgate Hotels will operate the hotel.
STAMFORD, CONN. — Clal Insurance has acquired Glenview House, for $69.1 million. The 146-unit multifamily property is located at 25 Glenbrook Road in Stamford. Glenview House includes one- to three-bedroom rental apartments. The property includes a retail space leased by Walgreens. The four-story residential building includes a 24-hour fitness center, concierge and business center. Waterton Associates LLC will oversee the management and leasing activities at the property. Glenview House is currently more than 95 percent leased. Glenview House represents Clal’s second acquisition in Stamford in just one month. In August, Clal closed on a 49 percent stake in 75 Tresser, a 344-unit mid-rise apartment rental community.
KILLINGLY, CONN. — Cassidy Turley has arranged a 147,878-square-foot industrial lease in Killingly. C&M Technologies, a manufacturer of wire and cable cords, has leased space located at 349 Lake Road. The company is relocating to this site from 51 S. Walnut St. in Wauregan, Conn. The property includes 12 loading docks and two drive-in doors, as well as 40 acres of excess land available for additional build-to-suit space. The property also features 15,600-square-feet of air-conditioned office space. Kevin Hanna and Sean Teague of Cassidy Turley represented C&M Technologies in the transaction. Keith Kumnick of Colliers International represented the landlord, the Grossman Cos.
BRONX, N.Y. — Simone Development Cos.has arranged 38,700 square feet of new leases at its Metro Center Atrium, which is nearing completion in the Bronx. The 370,000-square-foot office/retail/hotel complex is located at the 42-acre Hutchinson Metro Center campus. MetroPlus Health Plan, the insurance plan of the New York City Health and Hospitals Corp., is leasing 17,000 square feet of office space for its new Crisis Center at the Metro Center Atrium. In addition, IAC Acoustics, a leading supplier of sound control products, has leased 10,000 square feet of space for its executive offices, and Community Resource Center has leased 4,300 square feet of executive office space at the Metro Center Atrium. Applebee’s has also leased 7,400 square feet on the ground floor of the complex.
HILLSIDE, N.J. — Bussel Realty Corp. has arranged the lease of a 54,720-square-foot industrial building in Hillside. The property is located at 470 Mundet Place. Some of the building features include 5,295 square feet of office space and nine loading doors. The property is located near I-78 with access to the New Jersey Turnpike. The tenant, Superior Plus Inc., will utilize the space for warehouse and distribution purposes. David Posner of Bussel Realty represented the owner Nathan Barry Co.
NEW YORK — RKF has arranged two new leases at the 50-story Grace Building in Midtown New York for renowned chef Gabriel Kreuther’s first solo restaurant and Bluestone Lane Coffee. Kreuther’s yet-to-be-named restaurant will be located at 1114 Avenue of the Americas, directly across from Bryant Park. The property will consists of 8,000 square feet on the ground floor and 7,000 square feet on the second floor. Glen Coben of architectural and interior design firm Glen & Co. will design the restaurant. Spencer Levy and Michael Yohai of RKF represented Gabriel Kreuther and the Teton Restaurant Group in the lease. Edward Hogan and Mark Kostic represented Brookfield internally. Bluestone Lane Coffee has taken a 600-square-foot café space on the plaza at the Grace Building. Jon Krieger of RKF represented Bluestone in the transaction. Edward Hogan represented Brookfield internally. The Grace Building is co-owned by Brookfield and The Swig Co.