NEW YORK CITY — Marcus & Millichap has arranged the $6.8 million sale of a nine-unit apartment building at 233 W. 14th St. in New York City. The sale marks the highest price per square foot in Chelsea this year ($663 per square foot) for a 25-foot building. Peter Von Der Ahe, Joe Koicim and Shlomo Gelernter of Marcus & Millichap represented the seller, a private investor, in the transaction. They also represented the buyer, a private investor.
NEW YORK CITY — LinkedIn Corp. has expanded its lease at the Empire State Building to more than 72,000 square feet on two full floors. The social networking website operator originally leased 32,000 square feet on the entire 25th floor in 2011. LinkedIn, which boasts more than 187 million members in 200 countries, plans to occupy the space in 2013. Sacha Zabra of CBRE Group represented the tenant in the transaction. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, W&H Properties.
BROOKLINE, MASS. — Kaplan Construction is building the new 12,000-square-foot Brookline Teen Center at 40 Aspinwall Ave. in Brookline. The facility will provide out-of-school activities for Brookline-based teens in grades seven through 12. Kaplan will renovate a former garage for the facility, and the new space will feature a bowling alley, gym, recording studio, lounge, outdoor patio, cafe, aerobics dance study, game rooms and a study hall. The facility is slated for completion in the summer of 2013. The project team also includes GLC Development Resources, Stantec, RSE Associates and WSP Flack & Kurtz.
NEW YORK CITY — A joint venture between Oxford Properties Group and Crown Acquisitions has acquired a significant interest in Olympic Tower, a 380,000-square-foot office building on Fifth Avenue in New York City. The 21-story tower is home to the National Basketball Association and approximately 120,000 square feet of retail, including Cartier and Versace. The seller was Williston S.A., a business operating arm of the Alexander S. Onassis Public Benefit Foundation. Last May, Crown Acquisitions acquired a 49.9 percent interest in Olympic Tower in a transaction valued at $1 billion, according to various media reports. Under the new agreement, the asset will be jointly owned by Oxford Properties, Crown Acquisitions and the Onassis Foundation. JP Morgan assisted Crown Properties with the joint venture.
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.
