NEW YORK CITY — Adjacent apartment buildings located at 4706-4712 4th Ave. have sold for $4.4 million in the Sunset Park neighborhood of Brooklyn. A local investor purchased the two buildings, which contain 16 units. Adam Hess of TerraCRG represented the buyer in the transaction.
FLORHAM PARK, N.J. — The Rockefeller Group has completed construction of a 325,000-square-foot office building for BASF Corp. at The Green at Florham Park. The building is home to BASF's new North American headquarters. BASF, a diversified chemical company, had been located in an adjacent property in Florham Park since 2004. Construction of the building began in 2010. The facility has been designed to achieve LEED double platinum certification. The Green at Florham Park is a 268-acre, master-planned development.
NEW HAVEN, CONN. — White Plains, N.Y.-based Longford Associates has acquired 466-480 Foxon Blvd., a grocery-anchored shopping center in New Haven, for $7.4 million. The 49,146-square-foot property is located on Route 80, just northeast of downtown New Haven. The center is 90 percent occupied and tenants include Aldi Supermarkets, T-Mobile and AutoZone. Edward Jordan of Northeast Private Client Group represented the seller, New Haven-based Krypac Development, in the transaction. He also represented the buyer.
NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $3.8 million first mortgage loan for 30-32 E. 38th St., a six-story apartment building in Manhattan. The 10-year, non-recourse loan has a fixed interest rate of 3.55 percent for 5 years. The first 2 years of the loan include interest-only payments. Sheldon Stahl and Fred Stahl of Houlihan Parnes arranged the loan on behalf of CLK Properties and an affiliated company.
NEW YORK CITY — Delshah Capital has purchased all of the senior liens on 55-57 Gansevoort St., a 26,000-square-foot mixed-use building in the Meatpacking District, from Capital One. The amount owed on the senior liens is approximately $30 million. DelShah has also restructured the lease with Villa Pacri LLC, a restaurant that occupies three floors of the building. The property is also home to the nightclub Gun Bar. About 10,363 square feet of commercial space is currently vacant.
NEW YORK CITY — Chun Po Trading, a restaurant and plastic supplier, has signed a 46,000-square-foot lease at 54-35 46th St. in the Maspeth section of Queens. The company formerly occupied 77 Commercial St. in Brooklyn, which has been sold to accommodate construction of a new residential development. Linda Wong of Kalmon Dolgin Affiliates represented the tenant in the transaction. Fred Rufrano, also of Kalmon Dolgin Afilliates, represented the owner.
BOSTON — Hersha Hospitality Trust has agreed to acquire the 80-room Bulfinch Hotel in Boston for $18.2 million, or $228,000 per hotel room. Hersha plans to invest $2.5 million in the hotel to upgrade guest rooms and improve the fitness and business amenities. The hotel is located in Boston's West End, within walking distance of Beacon Hill and the North End. The acquisition is expected to close later this month.
CHERRY HILL, N.J. — A partnership between Time Equities and Bergman Real Estate Group has purchased 51 Haddonfield Rd., a 100,000-square-foot office building in Cherry Hill, for $3.4 million. The property includes a glass atrium, cafe, fitness center and ample parking. The new owners plan to upgrade the property, including the parking lot and lobby. As part of TEI's Art in Buildings program, the company will create a rotating art gallery of work by local and national artists. The building offers space ranging from 1,200 square feet to 22,000 square feet for immediate lease.
PHILADELPHIA — Homewood Suites by Hilton has opened an 11-story hotel in Philadelphia's University City neighborhood. Campus Realty Properties-V owns the 136-suite hotel, which is managed by Hersha Hospitality. Amenities include fully equipped kitchens with refrigerators and high-speed Internet access. The hotel also features an outdoor pool, fitness center and nearby walking trails. Located at 4109 Walnut St., the hotel is near the University of Pennsylvania campus.
NEW YORK CITY — Women's retailer DKNY has renewed its 17,776-square-foot lease for the company's flagship store at 655 Madison Ave. in New York City. The retailer will remain at the location through 2024. Andrew Roos and Michael Cohen of Colliers International represented the building owner, Plaza Associates, in the transactions. Laura Pomerantz and John Brod of PBS Real Estate represented DKNY. 655 Madison, which also houses tenants such as Orianne Collins Jewelry and Jones New York, recently underwent a comprehensive renovation.
