NEW YORK CITY — An office and warehouse building at 60-62 John St. in Brooklyn's DUMBO neighborhood has sold for $7 million. The 34,200-square-foot property is located between Jay and Bridge streets. Stephen Palmese and Winfield Clifford of Massey Knakal represented both parties in the transaction.
QUINCY, MASS. — Three new tenants will join One Adams Place in Quincy, after leasing a total of 31,325 square feet. Ricoh Americas Corp. signed a lease for 10,380 square feet, H.T. Bailey Insurance Group leased 15,572 square feet and South Shore Mental Health will take 15,572 square feet. Sean Teague, Jon Teague, Jon Vacca and Kate McGovern of Cassidy Turley represented the landlord, Commonwealth REIT, in the transaction. CBRE Group represented Ricoh Americas, DTZ represented H.T. Bailey and The Congrad Group represented SSMH. Reit Management & Research LLC manages the property.
NEW YORK CITY — A group of Brooklyn multifamily investors has purchased four apartment buildings from Brookdale University Hospital and Medical Center for $22 million. The investment group was led by apartment owners David Spira and Robert Wolf. The properties include a 20-story, 172-unit building at 7 Hegeman Ave.; a 12-story, 113-unit building at 660 E. 98th St.; a six-story, 54-unit property at 505 Rockaway Parkway; and a four-story, 42-unit building at 525 Rockaway Parkway. Matthew Bordwin, Harold Bordwin, Christopher Mahoney and Heather Milazzo of GA Keen Realty Advisors were part of the team that represented the seller in the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the $14 million sale of a two-property, 44-unit multifamily portfolio on Manhattan's Upper West Side. The properties include a 17,710-square-foot apartment building at 215 West 108th St. and a 15,944-square-foot apartment property at 210 West 109th St. Both buildings are located near Central Park and Columbia University. Joe Koicim, Peter Von Der Ahe and Shlomo Gelernter of Marcus & Millichap represented the seller, a private investor, in the transaction. Scott Edelstein, Seth Glasser, Koicim, Von Der Ahe and Gelernter represented the buyer, also a private investor.
NEW YORK CITY — A partnership between Crimson Real Estate Fund and USAA Real Estate Co. has acquired an infill multifamily development site in New York City. Patrinely Group will co-develop the property with DHA Capital LLC. The half-acre site is located at 546 W. 44th St. on Manhattan's West Side. The proposed project will have 298 units of market rate (80 percent) and affordable (20 percent) housing. The two-building project is slated to begin in the first quarter of 2014.
MIDDLETOWN, R.I. — NorthMarq Capital has arranged a $13.2 million refinancing loan for East Bay Village, a 240-unit apartment property at 969 W. Main Road in Middletown. Melissa Quinn and Robert Rothaug of NorthMarq arranged the 10-year loan, which will amortize over 30 years, through a life company.
MARLBOROUGH, MASS. — Verax Biomedical has signed a lease for 16,876 square feet of office and laboratory space at 120 Bartlett St. in Marlborough. Verax develops rapid tests for detecting bacterial contaminants in blood cells and tissue. Dan Collins, Stephen Cusano and Tom Egan of NAI Hunneman represented the landlord, The Ram Cos., in the transaction. Jones Lang LaSalle represented the tenant.
JERSEY CITY, N.J. — Two tenants took advantage of state incentive programs designed to attract and retain companies in New Jersey, leasing a total of 740,000 square feet at the Pulaski Distribution Center in Jersey City. Online grocer Peapod signed a lease for 345,000 square feet. The firm was awarded approximately $34.6 million in Urban Transit Hub Tax Credits approved by the New Jersey Economic Development Authority (NJEDA). Imperial Bag & Paper Co. signed a lease for 395,000 square feet. The firm, which will relocate from a site in Bayonne, N.J., received $29.1 million in Grow New Jersey credits. Robert Kossar, David Knee, Blake Chroman and Christopher Hile of Jones Lang LaSalle represented the property owner, Prologis, in the transactions.
HOBOKEN, N.J. — Crews have broken ground on Waterfront Corporate Center II, a 500,000-square-foot office and retail building at 221 River St. in Hoboken. A partnership between SJP Properties and USAA Real Estate Co. will develop the 14-story property. Pearson, which earlier this year signed a 200,000-square-foot lease at the property, will be the site's lead tenant. The new building is the last phase of SPJ's 1.5 million-square-foot, three-building office and retail complex. Designed by HLW International Architects, the center will feature full-time building security, interior loading, floor-to-ceiling glass windows and 25,000 square feet of retail space.
BOSTON — 52 Westland Enterprises LLC has purchased 52 Westland Avenue, a 43-unit apartment building in Boston's Fenway neighborhood, for $12.8 million. The five-story building is located across the street from Whole Foods and is adjacent to the Boston Symphony Hall. Chistopher Sower and Jason Weissman led the Boston Realty Advisors team that represented the seller, 52 Westland LLC, in the transaction.
