STANTON, DEL. — Bernie Kenny of FSSC has purchased the First State Plaza in Stanton, a 164,779-square-foot shopping center. Kenny is the founder of Delaware Supermarkets, a company that operates five ShopRite supermarkets in Delaware. First State Plaza is anchored by a ShopRite supermarket and tenants also include Cinemark, Dollar Tree and the U.S. Post office. The new owner plans to renovate the property and include the installation of a bus shelter. Jeff Dunne of CBRE Group represented the seller, USRP I LLC, in the transaction.
PHILADELPHIA — Children's Crisis Treatment Center has signed a lease for 43,673 square feet at the Waterview Corporate Center at 1080 North Delaware Ave. in Philadelphia. The nonprofit agency will consolidate three other Philadelphia locations into the new space this fall. Currently, the offices are located at 1823 Callowhill St., 1830 Callowhill St. and 417 N. 8th St. Peter Soens and Peter Shrier of SSH Real Estate represented the tenant in the transaction. Neil Brazitis and Les Hagget of Newmark Knight Frank Smith Mack represented the landlord, Core Realty Inc.
HYANNIS, MASS. — DoubleTree by Hilton has opened a newly renovated, full-service hotel in Hyannis. The hotel, previously a Radisson, has reopened as the 160-room DoubleTree by Hilton Cape Cod-Hyannis. Renovations were completed in all areas of the hotel. Guest rooms feature new carpeting, window treatments, furniture and bedding. An outdoor pool and fire pit have been added in the landscaped courtyard. The hotel is owned and operated by Ridgewood Hotel Associates under a franchise license agreement with a subsidiary of Hilton Worldwide.
NEW YORK CITY — HH Realty Equities has purchased a 30,000-square-foot office and retail property at 1308 East 13th St. in Brooklyn for $6.5 million. The building is fully occupied, with Valley National Bank as the main retail tenant. Additional tenants include medical billing and insurance companies. Robert Klein of Kalmon Dolgin Affiliates represented the buyer in the transaction. He also represented the seller, Avenue M Associates.
NEW YORK CITY — Hudson Realty Capital has funded a $5.9 million first-mortgage loan for a 50,400-square-foot apartment and retail property on Woodhaven Boulevard in Queens. The borrower, a real estate owner and investor, plans to use the proceeds for a discounted first-mortgage payoff and to establish reserves to stabilize the property. The six-building property includes 42 apartment units and 11,250 square feet of retail space. Occupancies are 83 percent and 20 percent for the residential and commercial units, respectively.
HAPPAUGE, N.Y. — Stalco Construction has completed work on the U.S. headquarters of Genometrica Research Inc., which designs and makes molecular biology and DNA sequencing equipment, in Happauge. Crews have updated the office space into a state-of-the-art research, product development and engineering laboratory. The 4,500-square-foot project included the renovation of a laboratory, 10 private offices, an administrative area and boardroom.
NEW YORK CITY — Lennox Hill Hospital has purchased a mixed-use property at 111 East 77th St. between Lexington and Park avenues on Manhattan's Upper East Side for $6.1 million. The 13,000-square-foot property is currently configured as a residential duplex above a medical office space. The office space occupies the ground floor and the majority of the finished basement. Lennox Hill owns two adjacent buildings to the east of the property, as well as a hospital across the street. Thomas Gammino of Massey Knakal represented the seller in the transaction.
NEW YORK CITY — NorthMarq Capital has arranged a $15 million loan for the refinancing of Cinema 123 at 1001-1007 Third Ave. in New York City. The 15,800-square-foot property is a three-screen theater. Robert Hervey and Ernest DesRochers of NorthMarq Capital arranged the one-year loan through a regional bank.
NEW YORK CITY — A $12 million renovation of the Parkhill Affordable Housing Complex at 260 Park Hill Ave. is complete. Parkhill, located between Park Hill and Osgood avenues, comprises eight buildings and is the largest affordable housing complex in Staten Island. It is home to 3,000 low-income residents. From 1998 to 2002, the owners completed $10 million in upgrades to the property utilizing funding from HUD and Freddie Mac's affordable housing program. Unithree, the new owner, then invested $12 million in a second round of renovations undertaken in two phases. The renovations include the installation of new kitchens, the construction of the Barack Obama Computer Center, upgrades to the apartment interiors and common areas and window replacements.
NEW YORK CITY — Madison Realty Capital has taken ownership of 224 Richmond Terrace, a 60,000-square-foot apartment and retail property in Staten Island. Madison previously purchased the non performing first mortgage for $8.4 million from Bank of New York Mellon and has now taken title by completing foreclosure proceedings. The 40-unit property, known as “The View,” stands 11 stories tall and features views of the Manhattan skyline and Statue of Liberty. The original owner planned to develop the property as a condominium, but defaulted on its construction financing in 2009. The original lender subsequently filed a foreclosure action. Today, construction is nearly complete with only some interior installations and cosmetic detailing remain. Casandra Properties is the leasing agent for the residential and retail portions of the property.