Northeast

NEW YORK CITY — A Century 21 store will be the anchor tenant for the second phase of Brooklyn's City Point, a 1.3 million-square-foot, mixed-use development in the center of downtown Brooklyn. The second phase includes two apartment buildings to be built atop a five-story retail podium. BFC Partners has been selected to develop Tower I, which will include 250 mixed-income rental units. The building will be financed through the NYC Housing Development Corp. and Mayor Bloomberg's New Housing Marketplace plan. The Brodsky Organization will develop Tower 2, which will contain 440 apartments. The second phase is expected to be complete in 2015. Acadia Realty Trust and Washington Square Partners are the master developers for the project.

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AMHERST, N.Y. — Ellicott Development has started work on a new $28 million mixed-use development in Amherst. The 122,000-square-foot building will include a 120-room Wyndham Garden Hotel & Suites, 33 apartments and 3,500 square feet of ground-floor retail space. Trautman Associates Architects and Tedo Engineers of Buffalo, N.Y. designed the hotel. Concept Construction Corp. is the project's general contractor.

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BOSTON — Synergy Investment & Development has purchased the parking garage below the Intercontinental Hotel & Residences in Boston for $15 million. HFF marketed the property as part of a court-mandated federal receivership and procured the buyer. HFF also arranged a $9.7 million, seven-year acquisition loan through Webster Bank on behalf of the buyer. The 376-space garage is part of a mixed-use development that was completed in 2006 and is located between Rose Fitzgerald Kennedy Greenway and the Fort Point Channel.

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NEW YORK CITY — Marcus & Millichap has arranged the $23.6 million sale of 680 Saint Nicholas Ave., a mixed-use building in Manhattan. The property includes 117 apartment units, five retail tenants and a cell phone antenna. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented both the buyer and seller in the transaction.

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NEWINGTON, CONN. — The Davison Co., a specialty food distributor, has signed a long-term lease for 120,500 square feet of warehouse and office space in the Newington Business Park. The company will relocate from its current operation in Wallingford, Conn., and expand. Ed Godin of Matthews Commercial Properties represented the tenant in the transaction. Chris Metcalfe and Bill Bronson of CBRE represented the landlord, The Hampshire Cos.

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NEW YORK CITY — In a joint venture, Crown Acquisitions and Olympic Tower Associates have purchased a 49.9 percent stake in the Olympic Tower complex on Fifth Avenue. The partnership acquired the stake from an affiliate of the Alexander S. Onassis Public Benefit Foundation. The building is located across the street from Rockerfeller Center and is comprised of four buildings: Olympic tower at 645 Fifth Ave.; the Versace Building at 647 Fifth Ave.; the Cartier Building at 653 Fifth Ave.; and 10 E. 52nd St. The 51-story Olympic Tower is a mixed-use high-rise with 225 apartments and 500,000 square feet of office and retail below. Harry Seherr-Thoss and Robert Freedman of Colliers International arranged the deal.

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NEW CASTLE, DEL. — Mishimoto Auto Performance has signed a 17,353-square-foot lease for industrial and office space at 18 Boulden Circle in New Castle. Mishimoto manufactures cooling components for race cars, motorcycles and other vehicles, and will occupy the new facility in July. Rich Dudek of Patterson-Woods/CORFAC International represented the tenant in the transaction. Dave Cook of The Flynn Co. represented the property owner, RREEF.

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SOUTH PLAINFIELD, N.J. — Public Service Electric & Gas Co. (PSE&G) has signed a 55,775-square-foot lease at 287 Executive Plaza in South Plainfield. The company plans to relocate its operations from Maplewood and use the space for training facilities and as a testing lab. PSE&G is New Jersey's largest electric and gas utility. Colliers International New Jersey represented the tenant in the transaction. Warren Searles of Cassidy Turley represented the landlord, Normandy Real Estate Partners.

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BOSTON — A foreign investor has purchased One Faneuil Hall, an eight-story office and retail building in Boston, for $40 million. The 44,287-square-foot building is fully leased to three tenants: Abercrombie & Fitch, Boston Language Center and Cue Ball Group. Made from granite, travertine and marble, One Faneuil Hall was designed by award-winning architect Graham Gund and completed in 1989. It is located in the city's downtown Financial District, adjacent to 60 State St. and the Faneuil Hall Marketplace. The capital markets division of Jones Lang LaSalle represented the seller, Faneuil Hall Square LLC, in the transaction.

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