DARIEN, CONN. — Kleban Darien LLC has acquired a 9,837-square-foot retail building at 987 Boston Post Road in Darien for $7.5 million. The property is fully leased to Brooks Brothers, the high-end apparel company, on a long-term basis. The two-story building was constructed in 2008 and is adjacent to a Metro-North train station. A team from Cushman & Wakefield, including Al Mirin, Kate Schwartz and Andrew Merin, represented the seller, Brooks Darien LLC, in the transaction.
NEW YORK CITY — GFI Realty Services has arranged the $3.2 million sale of 701 St. Marks Avenue, a 19,500-square-foot mixed-use property in Brooklyn. The property, located in Crown Heights, consists of 23 apartments and three stores. Shlomo Antebi of GFI Realty Services represented the sellers, local investors, in the transaction. He also represented the buyer, a local investor.
HEMPSTEAD, N. Y. — Metro 303, a new transit-oriented apartment community developed by Mill Creek Residential, has opened in Hempstead. The 166-unit property features one-, two- and three-bedroom layouts within a four-story building. The community was designed to achieve LEED Gold certification and amenities include a resident lounge, game area and outdoor pool. The property is also within walking distance of the County Life Press LIRR station in Garden City and the Hempstead LIRR and bus station in Hempstead.
PHILADELPHIA — Pennrose Properties and dmhFund have broken ground on a $19.5 million LGBT-friendly senior housing project in Philadelphia. The six-story affordable housing project will feature 56 one-bedroom units and multi-purpose public spaces. The project is slated for completion in 2013. Funding for the development stems from a Philadelphia HOME grant, Pennsylvania Redevelopment Assistance Capital Program funds and Low-Income Housing Tax Credits. Mark Segal, president of dmhFund and a well-known gay rights activist, is spearheading the project.
NEW YORK CITY — JMC Holdings has acquired a 34,722-square-foot office penthouse at 99 Hudson St. in New York City for $18.5 million. The space spans three contiguous floors in the 16-story building and features a private roof deck. The new owner plans to invest $4 million in renovating the space. The seller is NAACP Legal Defense Fund, which occupied the property since 1984. JMC Holding was self-represented by Matt Cassin and David Taylor. Janet Woods of Jones Lang LaSalle represented the seller.
NEW YORK CITY — The Federal Emergency Management Agency (FEMA) has signed a 200,000-square-foot lease at Forest HillsTower, to serve as the agency's New York City headquarters over the next several months. FEMA will utilize the space for administrative offices. There will be no on-site access to the general public. Given the organization's urgent need to oversee emergency-related activities in the aftermath of Hurricane Sandy, FEMA closed the transaction within a 48-hour period. Ken Siegel of Jones Lang LaSalle represented the landlord, Muss Development in the transaction. Mark Greenspan of CBRE Group represented the United States General Services Administration, which acted on behalf of FEMA.
ASHAWAY, R.I. — Chase Hill Rd Properties has acquired a single-story, 170,000-square-foot manufacturing building at 50 Chase Hill Road in Ashaway. The building features concrete floors, 26-foot clear ceiling heights and 10,000 square feet of office space. The new owner plans to upgrade the property. Tim O' Callaghan of Binswanger represented the seller, Shamrock Associates, in the transaction.
NEW YORK CITY — The International Gemological Institute (IGI) has inked a lease for 20,400 square feet of office space at 551 Fifth Ave. in New York City. IGI is the largest independent gemological laboratory in the world. The company will take over the entire seventh floor in the base of the 38-story tower this January. Jarod Stem of Studley represented the landlord, The Feil Organization, in the transaction. He also represented the tenant.
PLAINFIELD, N.J. — Treetop Development has acquired a 108-unit HUD apartment complex in Plainfield for $9.8 million. The garden-style apartment buildings are located at 825 E. Front St. Treetop plans to add new landscaping, new roofs and will complete interior apartment renovations. The acquisition is part of the company's ongoing strategy to add more than 3,000 units to its portfolio in cities such as Newark, East Orange and Jersey City.
NEW YORK CITY — The Orbach Group has acquired two portfolios across New York City and Pennsylvania totaling 635 apartment units for $70 million. In the first acquisition, The Orbach Group purchased a six-building, 105-unit Manhattan portfolio for $30 million. Five buildings are located on Amsterdam Avenue with the sixth building at Cathedral Parkway. The portfolio also included six retail stores, with tenants such as Dunkin' Donuts and Domino's Pizza. In the second transaction, the company purchased a 572-unit portfolio in Pennsylvania for $40 million. The assets include a 352-unit apartment complex in Bensalem and a 175-unit complex in Norristown. The sellers were not disclosed.
