NATICK, MASS. — Maric Strathmore Inc. has sold a 15,504-square-foot office building at 21 Strathmore Road in Natick for $3 million. The building is located within the Natick Business Park near Route 9. Scott Hughes of New Dover Associates represented the seller in the transaction. He also procured the buyer, GMG 21 Strathmore Road, an affiliate of Genesis Management Group.
NEW YORK CITY — Springhouse Partners has acquired 105 Grand Ave., a 36-unit apartment building in Brooklyn's Clinton Hill neighborhood, for $16 million. The seven-story elevator building is located across the street from the Pratt Institute, and amenities include a gym and a rooftop deck with views of Manhattan. Peter Von Der Ahe, Joe Koicim and Scott Edelstein of Marcus & Millichap represented the seller, a Brooklyn-based investment group. They also represented the buyer.
DARIEN AND NORWALK, CONN. — Aviv REIT has opened two new assisted living facilities in Darien and Norwalk for $32 million. The properties are triple-net leased to and operated by Maplewood Senior Living. The Darien property consists of 66 units and the Norwalk property includes 84 units. Maplewood operates five assisted living and memory care facilities with 407 units in Connecticut.
ROCHESTER, N.Y. — Marcus & Millichap has arranged the $4.6 million sale of four Canadaigua National Bank & Trust properties, totaling 13,671 square feet in suburban Rochester. Laurie Ann Drinkwater and Seth Richard of Marcus & Millichap represented the seller, a limited liability company.
NEW YORK CITY — Developer John Lam has acquired a development site at 1227 Broadway in the Midtown West neighborhood of Manhattan for $16 million. The site is a triangularly shaped parcel that totals 5,412 square feet. The zoning designation allows for 51,420 square feet of building space. The site currently contains two buildings and a parking lot. The buyer recently purchased the buildings at 1205 and 1225 Broadway and the new acquisition completes the entire blockfront. The new owner plans to use the site for the construction of one or two hotels. Bob Knakal and John Ciraulo of Massey Knakal represented the seller.
LYNDHURST, N.J. — Seagis Property Group has acquired two multi-tenant warehouses totaling 270,000 square feet in Lyndhurst. The buildings, located at 165 and 205 Chubb Ave. in the Meadowlands Corporate Center, are in close proximity to Route 3, Route 21 and Interstate 80. The buildings are 91 percent leased.
LOGAN, N.J. — A partnership between Dermody Properties and Stonemont Financial Group are developing a 70,000-square-foot facility for lease to national organic food distributor Albert's Organics. Dermody is serving as the industrial developer and operating partner and Stonemont is serving as the financial partner. The facility, which will serve as a distribution center, will be located at LogistiCenter at Logan, located at 1155 Commerce Blvd. Construction is slated for completion in April 2013.
NEW YORK CITY — Marcus & Millichap has arranged the $8.8 million sale of a mixed-use property at 220 West 116th St. and 449-451 W. 125th St. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented the seller, a limited liability company. They also represented the buyer, a private investor.
DOVER, N.J. — FJH Whitehall LLC has acquired a 14,000-square-foot retail property in Dover, which recently opened as a new Lazy Boy Furniture store, for $2.6 million. The property is located at 500 Mount Pleasant Ave. near the Rockaway Mall. The seller was Plaza K Realty-Dover LLC. Mark Handwerker of The Goldstein Group represented both parties in the transaction.
SOUTH PARK, PA. — Berkadia Commercial Mortgage has arranged a $13.8 million Freddie Mac loan for Park Place Apartments, a 219-unit property at 1700 Park Place in South Park. The 10-year, fixed-rate loan was used to pay off the acquisition financing on the property. Nick Cassino of Berkadia secured the loan on the behalf of the borrower, Robert Morgan, who owns more than 16,000 apartment units through his companies, Morgan Communities and Morgan Management.
