LATHAM, N.Y. — First Columbia is breaking ground for the development of a two-story office building in Century Hill Plaza business park in Latham. Located at 40 Century Hill Dr., the 30,000-square-foot building will be the seventh out of eleven approved buildings within the 625,000-square-foot office park. Each floor of the building will consist of 15,000 square feet of professional, high-tech space. The building will fulfill demand for Tier 1 properties in the area.
Northeast
NEW YORK CITY — The residential division of Thor Equities and Rockwood Capital have acquired an apartment building at 838 West End Ave. in New York’s Upper West Side. Built in 1913, the 108,000-square-foot property features 70 units and a lobby with 20-foot ceilings. Steven Vegh of Westwood Realty Associates brokered the transaction. A private family sold the property for an undisclosed price.
BRIDGEPORT, CONN. — Deyulio Sausage Company has purchased 1501 State Street in Bridgeport for $1.35 million. The 13,715-square-foot industrial building was formerly owned and operated by Dari Farms Ice Cream Inc. The transaction also includes a 98-year land lease with the City of Bridgeport for an adjacent parcel. Jon Angel of Southport, Conn.-based Angel Commercial brokered the transaction.
NORWOOD, N.J. — Mahwah, N.J.-based GlobalSoft Digital Solutions has signed a long-term lease for 16,000 square feet at a six-building industrial complex in Norwood. GlobalSoft Digital Solutions will occupy space at 385 Chestnut St. for storage and distribution. The NAI James E. Hanson brokerage team represented the landlord, Alfred Sanzari Enterprises. Nina Bianco of NIA National Realty Inc. represented the tenant in the transaction.
MARLBOROUGH, MASS. — FF Realty II LLC, an affiliate of Fairfield Residential, has acquired a 28-acre development site located on Ames Street in Marlborough for an undisclosed price. The buyer plans to develop the land into a 225-unit luxury apartment community of four multi-level buildings.The complex will offer 117 one-bedroom units, 96 two-bedroom units and 12 three-bedroom units. Additionally, the community will feature a clubhouse with pool. Construction is expected to begin later this year. Simon Butler and Biria St. John of CBRE/New England’s capital markets team represented the seller, Marlborough/Northborough Realty Trust, an affiliate of The Gutierrez Company, and the buyer in the transaction.
LARCHMONT, N.Y. — Byron Place Associates plans to start construction this month on The Cambium, a multifamily development in Larchmont.Located at 10 Bryon Place, the property will feature 149 one- and two-bedroom apartment units and a three-level parking garage with more than 270 spaces. The apartments feature custom flooring, gourmet kitchens with stainless steel appliances, and bathrooms with marble and limestone. Community amenities include a 24-hour doorman and onsite concierge, courtyard, fitness center, clubroom and a two-story lobby. Ceres Realty Group will manage the property, which is slated for completion in 2015.
CARLSTADT, N.J. — Sitex has purchased five industrial buildings located on Barell Avenue in Carlstadt for an undisclosed price. The buyer plans to modernize and reposition the buildings to attract companies seeking space in the Meadlowlands submarket. Two of the five buildings are currently occupied. Jeffrey DeMagistris, Thomas Vetter and Nicholas Herrick of NAI Hanson represented the seller, R.J. Purcell Associates, in the transaction. Additionally, NAI Hanson has been retained to oversee leasing of the facilities, which range in size from 23,400 to 39,832 square feet.
NEW YORK CITY — GFI Realty Services has brokered the sale of 18 West 125th Street in the Central Harlem South section of Manhattan. The five-story, walk-up building offers eight apartment units and a ground-level commercial unit. A local investor bought the property for $3 million, or $375,000 per unit. The property was constructed in 1909 and is within close proximity to the 125th Street subway stations. Jonathan Burland of GFI represented the seller, a local investor, and Ohad Babo, also of GFI, represented the buyer.
NEW YORK CITY — Empire State Realty Trust (NYSE: ESRT) has brokered six leases for a total of 25,000 square feet at the Empire State Building in New York City. Glenn Markman and Joseph Cirone of Cushman & Wakefield represented Qatar Airways in its 6,152-square-foot lease; Jeff Hersch of Prime Manhattan Realty arranged a 3,778-square-foot lease for Taurasi Capital Management; and Ethan Silverstein and Brian Zoubek of Cushman & Wakefield brokered a 3,272-square-foot lease on behalf of RKY Services (USA). Additionally, Esther Zar of MHP Commercial Brokerage Services and Lior Politi of The Corcoran Group arranged a 2,879-square-foot lease for BioSynthema Inc.; Jonathan Anapol of Prime Manhattan Realty brokered a 5,192-square-foot lease for Moses & Ziegelman; and Erik Alberti of EFA Realty LLC represented Community Options Inc. in its 3,617-square-foot expansion. Ryan Kass and Fred Posniak of Empire State Realty Trust and William Cohen, Jon Tootell and Shanae Ursini of Newmark Grubb Knight Frank represented the landlord in the six transactions.
PARSIPPANY, N.J. — CBRE’s Debt & Structured Finance Group has secured a $69.5 million loan for the acquisition of two Class A office properties in Parsippany. Beverly, Mass.-based Brookwood Financial Properties purchased the properties, which total 529,362 square feet. Situated within a 182-acre corporate campus, Morris Corporate Center I offers 261,924 square feet and Morris Corporate Center II offers 267,438 square feet. The property is currently 78 percent occupied by a variety of tenants, including Zurich, ICAP-EBS, Ralcorp, Farmers Insurance and Medtronic. Brookwood plans to invest approximately $3 million in property upgrades. Charles Foschini, Christian Lee and Christopher Apone of CBRE’s Debt & Structured Finance Group brokered the three-year, interest-only floating rate loan, which was provided by Los Angeles-based Starwood Property Trust.