NEW YORK CITY — Elizabeth Arden Inc. has signed a 10,000-square-foot lease at 200 Park Ave. in Union Square for its Red Door Spa. It will be the third spa in Manhattan for the beauty company, which has its corporate headquarters on the seventh floor of the same New York City Park Avenue building. The retail store and spa will occupy two levels, including 2,500 square feet on the ground floor and 7,500 square feet on the lower level. The property will also include an elevator visible from the street. Gregg Schenker, Mark Tergesen and John Gols of ABS Partners Real Estate LLC and Gary Trock of CBRE represented the landlord, 200 Park South Associates LLC, in the transaction. Joseph Cabrera, Edward Weiss, Michael Gordon and Robert Gibson of Cushman & Wakefield represented Elizabeth Arden.
HUDSON COUNTY, N.J. — NorthMarq’s North New Jersey regional office has arranged $33.8 million in first mortgage refinancing for three affordable housing properties in Hudson County. Eastview Apartments, a 79-unit apartment community located at 58-72 Washington St. in Hoboken, received $15.6 million. New Floral Gardens 1A, a 91-unit property located at 2515-2517 Cottage Ave. in North Bergen, received $8.9 million. Park View East Apartments, a 71-unit apartment community located at 4300 Park Ave. in Weehawken, received $8.8 million. Financing for the transactions was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing through a local bank.
HAWTHORNE, N.Y. — Mack-Cali Realty Corp. has sold 19 Skyline Drive in Hawthorne for $17.5 million. The vacant five-story, 248,400-square-foot building was sold to New York Medical College, a member of the Touro College and University System. “The sale of this property continues our strategy of recycling our capital out of non-core office assets to fuel our diversification into multifamily,” says Mitchell Hersh, president and CEO of Mack-Cali.
NEW YORK CITY — Investor Ira Lifshutz has acquired a 4,422-square-foot mixed-use loft building at 57 Grand St., located between West Broadway and Wooster Street, for $4.7 million, or $1,063 per square foot. The four-story building includes the ground-floor bar Toad Hall, which has been at the building for more than 20 years. The seller had owned the building for more than 30 years. Robert Burton of Massey Knakal handled the transaction.
PRINCETON, N.J. — Dr. Reddy’s Laboratories Inc. has signed a lease for 106,500 square feet of office and laboratory space with National Business Parks Inc. in Princeton. The global pharmaceutical company signed a long-term lease for the entire 75,500-square-foot, Class A property located at 107 College Road E., which will serve as the firm’s North American headquarters. The company also signed a 31,000-square-foot lease at the 61,792-square-foot, Class A building at 303 College Road E. Dr. Reddy's Laboratories, was represented by Shawn Straka, Steve Fleming and John Buckley of Jones Lang LaSalle. Vince Maranoand Tom Stange of Jones Lang LaSalle represented the building owner, National Business Parks.
SAYVILLE, N.Y. — Rochester, N.Y.-based Home Properties has sold two multifamily communities in New York and Maryland for a combined total of $109.1 million. South Bay Manor, a 61-unit multifamily property in Sayville, traded for $11.1 million. Net proceeds to the seller, after closing costs and debt assumed by the buyer, were approximately $4.4 million. The second apartment property, Falkland Chase, a 450-unit apartment complex in Silver Spring, Md., sold for $98 million. Falkland Chase consists of three parcels and is approved for 70,000 square feet of retail space. Net proceeds to Home Properties, after closing costs and debt repayments, were $60.3 million.
NEW YORK CITY — Berkadia Commercial Mortgage LLC has originated $35 million in financing for The Chocolate Factory, a mixed-use property located in the Wallabout neighborhood of Brooklyn. The borrower, The Chocolate Factory LLC, will use the loan to refinance its mixed-use facility. The seven-year loan features a 73 percent loan-to-value ratio. The Chocolate Factory, located at 275 Park Ave., was built in 1890 and served as a fully operational chocolate factory until 1967. Yuri Kletsman of Berkadia worked with the borrower to arrange the fixed-rate financing. Kletsman also worked with lender Freddie Mac to arrange the loan.
NEW YORK CITY — DelShah Capital LLC has completed the purchase of 58-60 Ninth Ave. in the Meatpacking District of New York City for $18.2 million. Located directly across from the Apple Store at West 14th Street, the 10,839-square-foot building includes 34 feet of frontage on Ninth Avenue. David Schechtman of Eastern Consolidated brokered the transaction to DelShah Capital. Icon Realty Management was the seller of 58-60 Ninth Ave. Jon Krieger of RKF is the leasing agent for the building.
KING OF PRUSSIA, PA. — Cronheim Mortgage has secured $10.3 million in financing for a 74,326-square-foot medical office building located off Schuylkill Expressway in King of Prussia. The loan was placed with a CMBS lender on a 10-year term with a 30-year amortization schedule. The borrower was a major Philadelphia-based developer. The property is a brick-clad office building located at the intersection of South Gulph Road and South Henderson Road. It was 82 percent occupied by nine tenants at the time of sale. Main Line Spine, The Philadelphia Hand Center and a private wealth management firm anchor the medical office building. David Turley and Janet Proscia of Cronheim Mortgage arranged the loan.
NEW YORK CITY — Hudson Realty Capital LLC has funded a $16 million first mortgage loan for a newly constructed vacant multifamily property located on Meserole Street in Brooklyn. The five-story elevator building includes 49 one- and two-bedroom units with a terrace or balcony, fitness center, multipurpose room, roof deck, ground-level garden and a below-grade parking garage. Nearby public transportation links include the L, J, M and G subway lines. The repeat borrower has closed four recent transactions with Hudson.