BOSTON — HFF has arranged construction financing for Twenty Two Liberty, a 14-story, luxury residential tower at Fan Pier in Boston. HFF secured the loan for the borrower, a venture between Boston-based The Fallon Co. and Massachusetts Mutual Life Insurance Co. (MassMutual), through Wells Fargo Bank. Slated for completion in late 2015, the new property will feature 15,025 square feet of ground-floor retail space and a 282-space, below-grade parking structure. Designed by CBT Architects, Twenty Two Liberty will feature condos ranging from studio pieds-a-terre to three-plus bedroom homes. John Fowler, Anthony Cutone and Toby Banta of HFF represented the borrower, and Shelly Gouin led the Wells Fargo team.
FAIRFIELD AND LITTLE FALLS, N.J. — Prologis has sold its Fairfalls Industrial Portfolio, which comprises 989,200 square feet in 28 buildings. Morristown, N.J.-based Hampshire Cos. acquired the property for an undisclosed price. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer and Kyle Schmidt of Cushman & Wakefield represented the seller and procured the buyer in the transaction.
NEW YORK CITY — Wildenstein & Co. Inc. has completed the sale of its Horace Trumbauer-designed gallery space, which is located at 19 East 64th St. in New York City. The State of Qatar acquired the 20,000-square-foot property for an undisclosed price. The off-market transaction, which is slated to close in April, will allow The State of Qatar to open a permanent New York City consulate at the property. Oren Alexander and Tal Alexander of Douglas Elliman represented the buyer in the transaction.
WATERBURY, CONN. — NorthMarq Capital has arranged an $8.6 million loan for the refinancing of Scott Gardens & PR Scott Apartments, a 276-unit multifamily property located at Stonefield Drive in Waterbury. The 10-year loan includes one-year of interest only payments and a 30-year amortization schedule. NorthMarq arranged the loan for the borrower, Scott Gardens LLC & P. R. Scott LLC through Freddie Mac.
EAST ORANGE, N.J. — Gebroe-Hammer Associates has arranged the $4.7 million sale of a two-property, 74-unit multifamily package in East Orange. The buildings are located at 112 Lincoln St. and 444-450 Prospect St. and include a mix of one- and two-bedroom units. Both properties feature on-site laundry facilities and parking, with 20 garages available to tenants at the Prospect Street property.David Oropeza, managing director, and Stephen Tragash, vice president of Gebroe-Hammer Associates represented the seller while Nicholas Nicolaou, vice president at the firm, procured the buyer.
MIDDLETOWN, R.I. — Marcus & Millichap has arranged the $1.9 million sale of Papa Gino’s, a 3,600-square-foot, net-leased property in Middletown, located about 34 miles south of Providence. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap marketed the property on behalf of the seller, a developer. The duo also procured the buyer, a private investor. Erected in 2006, the brick building is situated on half an acre and includes 39 parking spaces.
NEW YORK CITY — The retail condo portion of The Edge, a waterfront mixed-use property in the Brooklyn suburb of Williamsburg, has sold for $45.5 million. Madison Marquette acquired the retail portion, which totals 64,000 square feet, from Douglaston Development. Built in 2010, the property is part of The Edge project, a master-planned community that includes condominiums and residential units in four buildings. The retail component is long-term leased to Brooklyn Harvest Market, CVS/pharmacy, Ride Brooklyn and Fabbrica Cafe.
HAUPPAUGE, N.Y. — Cushman & Wakefield Inc. has completed the sale of 2929 Expressway Drive, a 152,254-square-foot, Class A office building located in Hauppauge, NY. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Rob Kuppersmith of Cushman & Wakefield represented the seller, a joint venture between Ivy Realty and CenterSquare Investment Management. The group also procured the buyer, a joint venture between Mason Asset Management Inc. and Great Neck N.Y.-based Namdar Realty Group.
ROCHESTER, N.Y. — Marcus & Millichap has arranged the $1.4 million sale of Crab Shack Restaurant, a 7,784-square-foot net-leased property located in Rochester. Preet Sabharwal and Steven Stoehrer, both from Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and represented the buyer, also a private investor. Crab Shack Restaurant is located at 749 E. Henrietta Road.
NEW YORK CITY — Sitt Asset Management LLC has sold 240 West 40th Street, a 159,774-square-foot office building in Manhattan, to AEW Capital Management for $63 million. The 13-story, loft-style building is fully leased to fashion label DKNY. Richard Baxter, Jon Caplan, Scott Latham, Yoron Cohen and Stephen Shapiro led Jones Lang LaSalle’s capital markets group, which represented the seller in the transaction.