Northeast

BROOKLYN MIXED-USE SITE SELLS FOR $66M TO JOINT VENTURE

by admin April 26, 2012

NEW YORK CITY — A joint venture between Waterbridge Capital and RedSky Capital has acquired a 110,000-square-foot parcel in Williamsburg for $66 million. Gabe Saffioti and Benjamin Trapper of Eastern Consolidated introduced the two firms for the purpose of arranging the joint venture The Bedford Avenue parcels are situated across the street from a new Whole Foods and include 237-241 Bedford Ave.; 158-160 N. Fourth St.; and 151-173 N. Third St. Combined, they comprise 50,000 square feet of retail space, 39 residential units and a 5,000-square-foot vacant lot. The new owners plan to redevelop and improve the retail spaces.

April 26, 2012

RANDOM HOUSE RENEWS NYC LEASE

by admin April 26, 2012

NEW YORK CITY — Random House Inc. has signed a 361,044-square-foot lease renewal at 1745 Broadway in New York City, extending its occupancy at the property through mid-2023. The print and trade book publisher occupies floors 2-13 for its corporate headquarters. Richard Bernstein of Cassidy Turley represented Random House in the transaction. The landlord, SL Green, was represented in-house.

April 26, 2012

Industrial Northeast

HEALTH FOOD MARKETER TO MOVE TO NEW JESERY

by admin April 26, 2012

NEW BRUNSWICK, N.J. — Healthy Food Brands has purchased a 172,000-square-foot industrial building at 122 Quentin Ave. in New Brunswick for $3.2 million. The company is moving from Commack, N.Y. and plans to create more than 250 jobs. Healthy Foods is a marketer of “better for you” confections and chocolate products. Doug Richter and Ian Grusd of Sperry Van Ness / Richter Grusd represented the seller, 122 Quentin LLC, in the transaction. Ed Horne and Marty Kreiman of HK Commercial Realty Advisors represented the buyer.

April 26, 2012

Mixed-Use Northeast

79 BOGART ST. IN BROOKLYN FETCHES $4.3M

by admin April 26, 2012

NEW YORK CITY — Bogart Plaza has purchased a 46,000-square-foot parcel at 79 Bogart St. in Brooklyn for $4.3 million. 79 Bogart St. is one of the last large, vacant spaces in the mixed-use area of Brooklyn. Joel Kohn and Avrum Lieber of Kalmon Dolgin Affiliates represented the seller, BBM LLC, in the transaction. Jacques Wadler, also of Kalmon Dolgin Affiliates, represented the buyer.

April 26, 2012

Multifamily Northeast

PARALLEL 41 APARTMENT COMMUNITY TO OPEN THIS JUNE

by admin April 26, 2012

STAMFORD, CONN. — Parallel 41, a 124-unit apartment building at 1340 Washington Blvd. in Stamford, is slated to open this June. Residents will have access to a game room, health club and roof deck, which features an outdoor kitchen, grills and flat-screen TVs. Parallel 41's interior spaces were designed by Julia L. Walters-Curanaj IID of JL Design Associates. TRIO Properties LLC will manage the property and the developer is RMS Cos.

April 26, 2012

Industrial Northeast

PANATTONI TO DEVELOP 1.5 MILLION SF OF DISTRIBUTION SPACE

by admin April 25, 2012

LEBANON COUNTY, PA. —Panattoni Development Co. has acquired 129 acres in the I-81/I-78 Logistics Park in Lebanon County. The company plans to develop two distribution and warehouse facilities totaling 1.5 million square feet. Plans also call for infrastructure improvements, such as the construction of a 1.5-mile road. The improvements are scheduled to be completed this year. The new buildings are expected to deliver in the spring of 2013. John Wilhide, Bart Anderson and Pat Lafferty of CBRE represented the seller in the transaction.

April 25, 2012

Industrial Northeast

RECYCLING CORPORATION EXPANDS LEASE

by admin April 25, 2012

PHILADELPHIA — Advanced Recycling Corporation of America (ARCA) has doubled the square footage of its headquarters at 4301 N. Delaware Ave. in Philadelphia. The company now occupies 95,000 square feet. Sidney Gable and Steven Gable of Sidney E. Gable Associates Inc. represented the owner, Delaware Ave., in the lease transaction. They also represented the tenant. ARCA will use the space for its Green Salvage Operation of refrigerators, washers and dryers.

April 25, 2012

Multifamily Northeast

BEECH STREET ARRANGES $5.4M REFINANCING LOAN

by admin April 25, 2012

WYNDHAM, CONN. — Beech Street Capital has arranged a $5.4 million Freddie Mac loan for the refinancing of Wyndham Park Townhomes, a 104-unit townhome apartment complex in Wyndham. Brian Sykes of Beech Street's Boston office originated the loan for the borrower, Jeffrey Libert. The 10-year, fixed-rate loan has a 30-year amortization schedule.

April 25, 2012

Northeast Retail

OUTDOOR RETAILER TRIPLES SIZE OF FORMER LOCATION

by admin April 25, 2012

MANCHESTER, CONN. — Outdoor retailer Eastern Mountain Sport has opened an 18,831-square-foot store in Manchester. The store is located next to PetSmart in the Plaza at Buckland Hills. The space is nearly three times the size of the former location in the same shopping complex. The store will feature a new section for kids, an expanded kayak department and a larger, full-service bike shop. A grand opening is scheduled April 27 to April 29.

April 25, 2012

Mixed-Use Northeast

HIDROCK PROCURES $28M DEVELOPMENT SITE

by admin April 24, 2012

NEW YORK CITY — Hidrock Realty has purchased a 6,160-square-foot development site at 133-135 Greenwich Street in Manhattan for $28 million. The site has approved design plans created by architect Costas Kondylis for the construction of a 150,000-square-foot mixed-use building. David Schechtman and Lipa Lieberman of the New York City office of Eastern Consolidated represented the buyer in the deal. Adelaide Polsinelli and Robert Khodadadian of the same office procured the buyer. Developer Sam Zell had previously bid on the site in 2010 after its Israeli owners filed for bankruptcy. They had paid $45 million at the height of the real estate boom and planned a 203-room hotel.

April 24, 2012

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