NEW YORK CITY — Gaia Real Estate Investment and Harel Insurance Investments and Financial Services have sold Gaia by the Park, a six-story apartment building in Manhattan, for $27.2 million. The multifamily property is located at 5 W. 91st St. in the Upper West Side neighborhood. Besen & Associates represented Gaia and Harel in the transaction.
EDGEWATER, N.J. — Capstone Realty Group has purchased Marketplace at Edgewater, an 88,641-square-foot shopping center, and an adjoining 10,030-square-foot pad site in Edgewater, for $20.6 million. The shopping center sold for $16.4 million and the pad site for $4.2 million. Built in 1990 on 6.4 acres, the center is situated along the Hudson River near the George Washington Bridge at 725 Tower Road. Trader Joe’s anchors the shopping center. Other tenants include Animal General, Binghampton Bagel, Chase Bank, Fast Frames, H&R Block, PetValu, River Pet Resorts and Scerbo Physical Fitness. Mark Taylor, Dean Zang and Christopher Munley of Marcus & Millichap represented the seller, a private investor. Greg Babaian, also of Marcus & Millichap, represented Capstone in the transaction.
NEW YORK CITY — Monday Properties and Invesco have secured three new leases at its property located at 230 Park Ave. in Manhattan. Bank of the Ozarks, a 100-year-old, Little Rock, Ark.-based community bank, signed a lease for 2,400 square feet. This will be the bank’s first office in New York City. Dallas-based Comerica, another banking institution, expanded its footprint by 1,800 square feet to now occupy 5,900 square feet on the sixth floor. In a third transaction, The Leona M. and Harry B. Helmsley Charitable Trust signed a new 15-year lease for 5,400 square feet on the fifth floor of the office building. The 34-story tower, located between 45th and 46th streets, includes 1.4 million square feet of Class A office space. James Wenk of Jones Lang LaSalle represented Bank of the Ozarks in its leasing transaction. Comerica and the Helmsley Trust were self-represented. Monday Properties was represented in-house by Jordan Berger in all three transactions, together with Frank Doyle, Jonathan Fanuzzi, Paul Glickman and David Kleiner of Jones Lang LaSalle.
NEW YORK CITY — Hudson Realty Capital LLC has funded a $21.7 million first-mortgage loan secured by a newly constructed, eight-story mixed-use building in Queens. Proceeds from the loan will be used to pay off an existing mortgage and market the condominiums in the building. The property includes 82 one-, two- and three-bedroom condominium units, 15 community-space units, eight ground-floor retail units and 60 parking spaces. Amenities at the property include a fitness center, a multi-purpose room and a storage room. Located in the primarily residential neighborhood of Woodside, the building is six blocks from the nearest subway and three blocks from the on-ramp to the Brooklyn-Queens Expressway. The borrower has developed more than 60 properties — including hotels and residential and commercial assets — throughout the New York City area.
SECAUCUS AND MILLBURN, N.J. — G.S. Wilcox & Co. has arranged $15.9 million in financing for two industrial properties in Secaucus and one mixed-use property in Millburn. Great West Financial provided the two Secaucus loans totaling $6.5 million for Hartz Mountain. The loans were secured by a 61,220-square-foot warehouse located at 125 Seaview Drive and a 58,736-square-foot warehouse at 140 Seaview Drive. Genworth Financial provided the third loan for Fidelco. The $9.4 million loan was secured by a 91,722-square-foot mixed-use property located at 225 Millburn Ave. in Millburn. Gretchen Wilcox, president, and Al Raymond, principal, at G.S. Wilcox & Co. arranged the loans.
UNION CITY, N.J. — Gebroe-Hammer Associates has arranged the $6 million sale of an apartment/office property in Union City, about 10 miles northwest of Newark. The sales price translates to 180,000 per apartment unit. The mixed-use property includes 34 apartment units and one office unit and is located at 812 New York Ave. Nicholas Nicolaou, vice president at Gebroe-Hammer, represented the seller and the buyer, both private investors, in the transaction.
MILLVILLE, N.J. — CBRE Group Inc. has completed the $1.3 million sale of a 8,640-square-foot, net-leased building in Millville, located in southeast New Jersey. Dollar General occupies the building, which is located at 1406 N. High St., under a long-term lease. Elli Klapper and Charles Berger of CBRE’s Private Capital Group represented the seller, a private investor.
NEW YORK CITY — Marcus & Millichap has arranged the $6.8 million sale of 188 & 190 Wadsworth Avenue, a 44-unit apartment property in New York City. Scott Edelstein, Seth Glasser and Peter Von Der Ahe of Marcus & Millichap’s Manhattan office, marketed the property on behalf of the seller, a private investor, and represented the buyer, also a private investor. The seller, a local family, owned the building, which is located at 188 Wadsworth Ave., for more than 50 years.
BELLEVILLE, N.J. — Weichert Commercial Brokerage Inc. has arranged the sale of a 60,000-square-foot industrial building in Belleville, about five miles north of Newark. Scott Maynard, senior vice president at Weichert, represented the seller, a bank, and the buyer, Charles DeFranza, in the transaction. The industrial property is located at 335-353 Cortlandt St.
JERSEY CITY, N.J. — Rabobank has subleased 36,000 square feet at 10 Exchange Place, located on Jersey City’s Hudson River waterfront, to CarePoint Health. The healthcare provider will occupy the entire 15th floor of the building, which it will use for administrative purposes. Dan Johnsen, Robert Rudin, Michael Burgio, Daniel Organ, Robert Gastel and Franklin Speyer of Cushman & Wakefield represented Rabobank. Jaime Weiss and Matthew Weiss of Moonachie, N.J.-based Weiss Realty represented CarePoint Health in the transaction.
