NEW YORK CITY — DelShah Capital LLC has closed on the $8.6 million purchase of 69 Gansevoort St. in the Meatpacking District of New York City. The property includes a 2,950-square-foot commercial building with 7,160 square feet of air rights. DelShah will lease the retail space at 69 Gansevoort St. to a subsidiary of The Line Group, an operator of multiple entertainment venues across Manhattan, while plans and construction are completed to utilize the building’s air rights. Berkadia Commercial Mortgage provided $6.5 million in acquisition financing to DelShah.
NEW YORK CITY — Marcus & Millichap has arranged the $2.6 million sale of 361 7th Street, a seven-unit apartment property in Brooklyn. The sales price represents $330 per-square-foot. Jakub Nowak, an investment specialist in Marcus & Millichap’s Brooklyn office, marketed the property on behalf of the seller and represented the buyer, a private investor.
SHREWSBURY, MASS. — Fantini & Gorga has arranged $1.8 million in acquisition financing for a single-story, multi-tenant flex property in Shrewsbury. The 37,800-square-foot building is located at 910 Boston Turnpike, about 40 miles west of Boston. Situated on 3.8 acres, the property is located on Route 9. John Gorga, president and principal at Fantini & Gorga, represented the borrower, Hecht Shrewsbury LLC, in the transaction.
MONROE, CONN. — GAT, a manufacturer of sports and fitness supplements, has signed a 21,000-square-foot warehouse and office lease in Monroe. GAT will occupy almost half of the building, leaving 5,000 square feet of office and 16,000 square feet of warehouse space available. Brett Sherman, CCIM at Angel Commercial LLC, represented GAT, while Jon Angel, also of Angel Commercial, represented the landlord. The flex building is located at 578 Pepper St., about 19 miles east of Danbury.
ALLENDALE, N.J. — NorthMarq Capital has arranged $27.7 million in first mortgage refinancing for a flex portfolio in Allendale, located about 25 miles north of Newark. The properties total 368,556 square feet and are located at 1, 2, 3, 5, 6 & 7 Pearl Court and 59 Route 17. James Murphy, managing director at NorthMarq’s Boston regional office, arranged the five-year loan, which includes a 25-year amortization schedule. High Street Equity was the borrower, and a life insurance company provided the loan.
NEW YORK CITY — Meridian Capital Group LLC has arranged $16.4 million in construction financing and $5.7 million in joint venture equity for a condominium project in Queens. A local bank provided the two-year loan, which includes interest-only payments. Stonecutter Capital Management LLC provided the equity. Emanuel Westfried, a vice president at Meridian Capital, negotiated the joint venture equity on behalf of Rising Developers Group LLC and Stonecutter Capital Management LLC. The condominium development is located at 42-60 Crescent St. and will include 40 units.
MANSFIELD, CONN. — Washington Trust’s commercial real estate group has provided $6.9 million in construction financing for a 32,175-square-foot retail property and a 5,000-square-foot stand-alone retail building in Mansfield. Storrs Center Alliance LLC was the borrower. Price Chopper Supermarket will occupy the 32,175-square-foot property. The development is located in downtown Mansfield, across from the University of Connecticut and is the latest phase of the Storrs Center project that Leyland Alliance LLC is developing.
NEW YORK CITY — Marcus & Millichap has arranged the sale of 115 Powers St., a six-unit apartment property in Brooklyn, for $1.5 million, or $363 per-square-foot. Shaun Riney, Michael Salvatico and Jim Saros, investment specialists in Marcus & Millichap’s Brooklyn office, marketed the property on behalf of the seller, a private investor. Salvatico, Riney and Saros also represented the buyer, a fund manager.
NEW YORK CITY — GFI Realty Services Inc. has secured the sale of a four-story mixed-use building in the Park Slope section of Brooklyn for $3.5 million. The property consists of 14 apartment units and two ground-floor commercial units totaling 10,596 square feet. Roni Abudi of GFI Realty Services represented the seller, a local investor, in the transaction. Shlomo Antebi, also with GFI Realty Services, represented the buyer, a local investor. The property was built in 1921 and is located in close proximity to Prospect Park.
YONKERS, N.Y. — Marcus & Millichap has arranged the $750,000 sale of an eight-unit apartment property located at 27 Pelton St. in Yonkers. Harry Delany of Marcus & Millichap's Manhattan office represented the seller, a large banking institution, in the transaction. Delany also secured and represented the buyer, a private investor.