NEW YORK CITY — Samsung Electronics North America has signed a long-term lease for 837 Washington Street in New York’s Meatpacking district. Situated between Little West 12th and West 13th streets, the 55,000-square-foot building features six floors, as well as a cellar and roof space. Additionally, the property features 7,000 square feet of outdoor space on the second and third floors and rooftop. Craig Reicher, James Ackerson, David Liggitt and Patrick O’Keefe of CBRE Group represented the tenant, while Thor Equities, Newmark Grubb Knight Frank and Taconic Management Company represented the landlord in the transaction.
Northeast
NEWARK, IRVINGTON, CARTERET AND UNION, N.J. — Gebroe-Hammer Associates has arranged three separate multifamily deals in Newark, Irvington and Carteret, as well as the sale of a three-unit retail center in Union. In the first transaction, 158-160 Second Avenue in Newark, an 18-unit apartment building, sold for $1.21 million. David Jarvis of Gebroe-Hammer represented the seller and identified the buyer in the transaction. In Irvington, David Oropeza of Gebroe-Hammer arranged the sale of the six-unit 444 Nye Avenue. Additionally, Joseph Brecher of Gebroe-Hammer brokered the $1.74 million sale of 7-11 Byron Street, an 18-unit apartment building in Carteret. Finally, Jarvis and Stephen Tragash brokered the sale of three commercial units at 1026, 1030 and 1036 Stuyvesant Ave. in Union.
NORWALK, CONN. — Livingston, Conn.-based Mark Scott’s Commercial Mortgage Capital has closed a $94 million permanent loan for i.Park Norwalk, located at 761 Main Ave. in Norwalk. Situated on a 30-acre campus, the 365,866-square-foot office building is occupied by Norwalk Hospital, LA Fitness and Cannondale Sports Group, a leading bicycle manufacturer. The property recently underwent a multi-million dollar capital improvement program to transform the building into an efficient, high-tech campus. i.Park Norwalk features oversized windows, high ceilings and flexible layout with expansion options, as well as sustainable design features such as an eco-roof with solar panels, ENERGY STAR windows and energy efficient HVAC systems.
PLAINSBORO, N.J. — Ivy Realty has completed the disposition of 100 College Road West in Plainsboro. An affiliate of American Realty Capital purchased the 154,101-square-foot office building for $63.5 million. The three-story building is fully occupied by pharmaceutical giant Sandoz, which recently signed a 12-year lease at the property for its U.S. headquarters. The property is currently undergoing significant upgrades, including a renovated lobby and cafeteria, new meeting rooms, office space fit-outs and improvements to achieve LEED Silver certification. Andrew Merin, David Bernhaut, Gary Gabriel and Grace Braverman of Cushman & Wakefield’s East Rutherford, N.J. office represented the seller in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a three-lot land assemblage in the Rockefeller Center area of Midtown Manhattan. HID Acquisition Group, affiliated with Hidrock Realty, acquired the property, which is targeted for residential condo development, for $47 million or $522 per buildable square foot. The assemblage consists of three 25-foot-wide lots: 12 East 48th Street, 14 East 48th Street and 13 East 47th Street. The assemblage allows for 75,300 residential buildable square feet as of right and a total buildable residential envelope of approximately 90,000 square feet if the development is in compliance with the recreation facility bonus in the zoning district. HID Acquisition plans to raze the three existing vacant office buildings and develop a 31-story residential tower on the East 48th Street entrance. The project will include a mix of studio units, one- and two-bedroom apartments and amenities, specifically targeting the international pied-a-terre market. R. Stuart Gross of Eastern Consolidated represented both the buyer and the seller, East 47th Street LLC (City Centre Properties), in the transaction. Morris Missry of Wachtel Missry LLP was the attorney for the buyer, and Peter Koffler of Venable LLP was the attorney for the seller.
NEW YORK CITY — Eastern Union has arranged a $24 million HUD loan for the refinancing of Union Care Plaza Center. The 289-unit nursing home is located at 33-21 Union St. in the Flushing neighborhood of Queens. The 12-year loan features a fixed annual interest rate of 3.25 percent. Shaya Ackerman of Eastern Union secured the financing on behalf of the borrower, David Marx.
NEW YORK CITY — Marcus & Millichap has brokered the sale of 146 Fenimore Street, an apartment building located in Brooklyn. The 17-unit property sold for $3.4 million or $200,000 per unit. Derek Bestreich and Shaun Riney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a limited liability company, in the transaction.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 37-10 Crescent Street, a warehouse property in Long Island City. GMS Seashore sold the 18,000-square-foot property to 37-10 Crescent Street LLC for $6.5 million. A limousine company, whose lease expires in May 2015, currently occupies the one-story building. The lease includes one five-year option and demolition clause that may be exercised with a six-month notice. The asset site totals 36,552 buildable square feet. Peter Carillo and Chad Ian Sinsheimer of Eastern Consolidated represented the seller in the transaction. Additionally, Carillo procured the buyer for the deal. The attorney for the seller was Farrel Fritz, and Seth Stein, Esq. was the attorney for the buyer.
GROTON, MASS. — Senate Construction Corp. has begun construction for the second phase of development at Boynton Meadows, a mixed-use development in Groton. The second phase will include 15 townhouses, ranging from 2,000 to 2,500 square feet with additional walkout and basement space. The second phase is slated for completion in November. The first phase, which is located on Main Street, includes mixed-use first-floor office and retail space, which is occupied by a yoga studio, bakery and dental office. Maugel Architects has designed the mixed-use project to incorporate the colonial architecture of the community while including modern features. Mount Laurel Development LLC is developing the project, which is financed by Bank of New England.
BURLINGTON, MASS. — Suffolk Construction has been selected to perform preconstruction and construction management service for the first phase of the Stilts Infill Master Plan for Lahey Hospital & Medical Center in Burlington. Situated on the academic medical center’s campus, the $60 million project will consist of a 190,000-square-foot addition featuring a new emergency department, shell space and mechanical areas to infill the existing Stilts structure and tie together Lahey’s clinical facility. Construction is slated to begin this fall with completion slated for 2017. Suffolk has partnered with architect firm Freeman White on the project, which has been designed to achieve LEED Silver certification.