HARRISON, N.Y. — Life Time Fitness has purchased One Gannett Drive, a 232,000-square-foot office and distribution building in Harrison that was formerly a Gannett printing press operation. Life Time, which operates 105 health clubs across the U.S., plans to raze the building and construct a fitness facility on the 24-acre site. At more than 200,000 square feet, it will be one of Life Time's largest facilities. Kenneth Lundberg of NAI Hanson and Carl Silbergleit and Ellen Benedak of NAI Friedland represented LTF Real Estate Co. — trading as Life Time Fitness — in the transaction. Jeffrey Dunne, William Cuddy, Steven Bardsley and Kevin Langtry of CBRE Group represented the seller, Gannett Satellite Information Network Inc.
MERIDEN, CONN. — 234 Sherman LLC has acquired an 88-unit apartment building at 234 Sherman Ave. in Meriden for $7.7 million. The property was originally built as a school in 1924 and the building was converted to apartments in 1988. Each unit contains air-conditioning units, dishwashers, garbage disposals and ceiling fans. Amenities include a swimming pool, gym and laundry facility. Steve Witten, Victor Nolletti and Eric Pentore of Marcus & Millichap represented the seller, Taymil Britannia, in the transaction. They also represented the buyer.
NEW YORK CITY — Prestige Properties & Development has secured a $210 million loan to refinance Bay Plaza Community Center, a 517,000-square-foot retail center in the Bronx. Bay Plaza Community Center is a section of the 1.3 million-square-foot BayPlaza shopping complex, the largest retail center in New York City. MetLife's Real Estate Investments Division provided the five-year, fixed-rate loan, which bears an interest rate of sub-4 percent.
WILLIAMSTOWN, MASS. AND CONCORD, N.H. — US Hotels Group has acquired two boutique hotels — The Orchards in Williamstown and The Centennial in Concord, from the Carlyle Group. The Orchards is a rural property situated in the Berkshire Mountains. The 49-room hotel features 3,100 square feet of event and meeting space, a steakhouse and numerous amenities. The contemporary Centennial Hotel offers guests modern accommodations within a Victorian Landmark property. The Centennial features conference and private event space and includes the Granite Restaurant and Bar.
SCARSDALE, N.Y. — L&B Realty Advisors has purchased 7 and 17 Popham Roade, a two-building retail, medical and recreational-use building in Scarsdale. The 38,510-square-foot property is adjacent to the Scarsdale Metro North train station and is 20 miles north of New York City. The buildings are fully leased and tenants include CVS/pharmacy and Webster Bank. Andrew Scandalios, Jose Cruz, Jeffrey Julien and Kevin O'Hearn led the HFF team that represented the sellers, F&R Popoham LLC and F&R Constitution LLC.
BOSTON — Rockland Trust has provided a $27 million loan for the acquisition of 801 Boylston St., a retail and office property in Boston. The buyer, Frazer Boylston Holdings, owns several other buildings in the Back Bay. Tenants at the property include Fidelity Investments and Siemens. Constructed in 2001, the 23,000-square-foot building features five floors of retail and office space, located near Prudential Tower and Newbury Street shops.
PHILADELPHIA — Gebroe-Hammer has completed the $16.75 million sale of Chestnut Hill Tower, a 228-unit high-rise apartment building at 7600 Stenton Ave. in Philadelphia. The 18-story building in the Chestnut Hill neighborhood includes 12 ground-floor retail spaces. Amenities include two pools, two tennis courts, a gym and community rooms. Rents at Chestnut Hill Tower start at $750 per month for studios and $1,500 per month for a three-bedroom unit. Joseph Brecher and Eli Rosen of Gebroe-Hammer represented the seller, an out-of-state private owner. They also secured the buyer.
MILFORD, MASS. — Noyles Sheet Metal has acquired 66 Sumner St. in Milford, a 15,900-square-foot manufacturing building for $810,000. The property is situated on two acres of land and Noyes Sheet Metal has occupied the building for the last two years. The company provides custom duct work for the heating and cooling of commercial buildings. Bill Sullivan of R.W. Holmes Realty represented the buyer in the transaction. Craig Johnston and John Eysenbach of R.W. Holmes Realty represented the seller, Natick Mercer LLC.
NEW YORK CITY — Marcus & Millichap has arranged the $1.6 million sale of 92-94 Decatur St., a 16-unit apartment building in Brooklyn. The sales price represents 104,688 per unit. Derek Bestreich and Shaun Rhiney of Marcus & Millichap represented the seller, a private investor. They also secured the buyer, a private investor.
NEW YORK CITY — Besen & Associates has arranged the $7.5 million sale of a mixed-use property at 1444 Third Ave. in the Upper East Side of Manhattan. The four-story, 7,197-square-foot building includes a restaurant with two years remaining on its lease and nine apartments. The new owner plans to redevelop the property into a boutique condominium.