YONKERS, N.Y. — The conversion of 19th-century row houses in Yonkers to 10 loft-style apartments with street-level shops is underway. The retail space will total 9,000 square feet. Edwin A Quick & Son, the firm that designed Yonkers City Hall, designed 50 Warburton Ave. The buildings will be restored to their circa-1900 appearance. L+M Development Partners is the project developer. The $10 million project is expected to be complete in spring 2013.
NEW YORK CITY — New York City-based Modell's Sporting Goods recently opened three new locations in New York and New Jersey. The company opened a 13,000-square-foot store at 61-09 190th St. in Fresh Meadows, N.Y. and a 15,900-square-foot store at 1584 Flatbush Ave. in Brooklyn. The third location is a 16,700-square-foot store at 1607 State Route 23 in Wayne, N.J. Modell's offers the top brands in sporting goods equipment, footwear and active apparel. The retailer operates 150 stores in the Northeast.
NEW LONDON, CONN. — A New England-based investor has purchased the Washington Street Apartments in New London for $2.6 million. The 29-unit apartment complex includes two parking lots, on-site laundry facilities and an exercise room. The building underwent a historic restoration in 2002. Laurie Ann Drinkwater of Marcus & Millichap's New Haven office and Seth Richard of the firm's Manhattan office represented the seller, a New York-based investor. They also represented the buyer.
LIVINGSTON, N.J. — Mark Scott of Commercial Mortgage Capital's Livingston, N.J. office has negotiated $34 million in permanent mortgage financing for three multifamily properties in New Jersey. One property is a two-story apartment complex containing 612 units in Middlesex, N.J. Scott arranged the $20 million loan through a national insurance company. Scott also arranged 10-year loans for a 65-unit building in Berkeley Heights, N.J. and a 74-unit property in Springfield, N.J.
BILLERICA AND TEWKSBURY, MASS. — Brookwood Financial Partners has executed leases for 110,923 square feet at the Brookwood Business Center in Billerica and Tewksbury, Mass. Potpourri Group inked a 72,000-square-foot lease for its corporate headquarters and DGI-Invisuals LLC signed a lease for 38,923 square feet. Neil Ross and Greg Zais of Jones Lang LaSalle represented Potpourri in the transaction, while Sam Oddo of Oddo Inc. represented DGI. Richards Barry Joyce & Partners represented Brookwood.
NEW YORK CITY — Beech Street Capital has arranged $25.9 million in Fannie Mae loans for the refinancing of a seven-property portfolio in Brooklyn, Queens and the Bronx. The multifamily portfolio includes 530 units. Josh Rhine of Meridian Capital Group originated the transaction. The 7-year, fixed-rate loans carry 6.5 years of yield maintenance.
NEW YORK CITY — BLDG Acquisition Group has purchased a 3,469-square-foot retail condominium at 127 Seventh Ave. in Chelsea for $6.6 million. The condominium is fully leased to CORE Marketing Group. Jeff Fishman, Brian Segall and Jonathan Butwin of RKF represented the buyer in the transaction. They also represented the seller, Yves Retail. The condominium is located within the Yves, a 14-story residential building.
NEW YORK CITY — Vornado Realty Trust has refinanced 100 W. 33rd St., a 1.1 million-square-foot property in Manhattan for $325 million. The high-rise contains the 243,000-square-foot Manhattan Mall and 847,000 square feet of office space. The loan bears interest at LIBOR, plus 2.5 percent, and matures in March 2015 with two one-year extension options (LIBOR is currently 2.74 percent). The company realized net proceeds of about $87 million after repaying the existing loan on the property and closing costs.
WATERTOWN, N.Y. — Sam Berns of NorthMarq's Rochester, N.Y. office has arranged a $7 million loan for the refinancing of Pleasant Creek Apartments, a 156-unit military housing community in Watertown. Freddie Mac provided the 10-year loan, which carries a 30-year amortization schedule. Pleasant Creek offers off-site housing for the Army's 10th Mountain Division. The division has had deployments in both Afghanistan and Iraq.
NEW YORK CITY — DWS, a footwear and accessories retailer, has opened a new store at 34th Street in Manhattan. The company also announced plans to open a store on the Upper West Side at 79th and Broadway this summer. At more than 33,000 square feet, the 34th Street store is one of the largest in the DSW chain. It includes three floors of retail space. The DWS store opening at 79th and Broadway will total 32,000 square feet.
