NEW YORK CITY — The World Trade Center tower, constructed to replace the twin towers that were leveled on 9/11, has edged out the Empire State Building as the tallest building in New York City. On Monday, crews installed steel columns on top of the tower, which surpassed the 1,250-foot high Empire State Building. When finished, One World Trade Center will stand 1,776 feet tall. Completion is scheduled for the end of 2013. The property is being jointly developed by the Port Authority of New York and New Jersey and The Durst Organization. The building is expected to be the tallest in the western hemisphere. Burj Khalifa in Dubai remains the world's tallest building at 2,723 feet.
NEW YORK CITY — Urban American has sold three mixed-use properties in Brooklyn for $18.1 million. The properties are located at 350 Empire Blvd. and 441 Brooklyn Ave. in Prospect-Lefferts Garden and 305 E. 34th St. in East Flatbush. The buildings encompass 157,255 square feet, consisting of 154 apartments and five commercial spaces. Bob Knakal and Michael Amirkhanian of Massey Knakal represented Urban American in the transaction. David Berger and Aaron Jungreis of Rosewood Realty Group represented the buyer, Sol Kopelowitz, a local real estate investor.
NEW YORK CITY — David Berley, chairman of brokerage firm Walter & Samuels, has purchased a boutique office building in the Flatiron District for $10 million. The 7-story building is located at 30 E. 20th St. and includes loft-like office space and two ground-level retail spaces. Ivan Hakiman of HPNY represented the seller in the transaction.
WATERTOWN, MASS. —Three new office tenants will move into the Riverworks complex, located at 480 Pleasant St. in Watertown. The Alzheimer's Association will relocate from Arsenal on the Charles in Watertown, Mass. and will use a portion of the second floor, totaling 18,737 square feet, as its regional headquarters and training facility. Sabre Hospitality Solutions will relocate from Netwon, Mass. into 11,583 square feet on the fourth floor. Education Resource Strategies (ERS) has signed a lease for 10,403 square feet on the second floor, and will relocate from One Brook Street in Watertown. Daniel Kollar, Brendan Cohn, Peter Bekarian and Keith Gurtler of Jones Lang LaSalle represented the owner, Farley White Interests, in the transaction. Robert Fitzgerald and Bill Crean represented the Alzheimer's Association. Keith Gurtler of Jones Lang LaSalle represented Saber, while Adam Meixner and Jeremy Fried of Boston Realty Advisor represented ERS.
ERIE, PA. — DDR Erie LLC has sold West 38th Street Plaza, a retail center located at 2301 W. 38th St. in Erie, for $1 million. The 96,000-square-foot property includes 78,000 square of vacant, big-box space and a vacant, 4-acre outparcel for future development. Tenants include Subway and Snap Fitness. Bob Havasi and Dan Cooper of Copper Commercial Investment Group represented DDR Erie in the transaction. The buyers were a private group from Erie.
WAWARSING, N.Y. — Nevele Investors LLC has closed on the purchase of Nevele Grande Hotel and Country Club in Wawarsing. The investment group seeks to develop casino gaming at the facility, which must be approved by the state. If approved, the new owners anticipate a $500 million redevelopment to transform the site into a resort and casino. Nevele also plans to preserve the hotel's iconic elements, including the tower, entrance lobby and ice rink and reopen its professional golf course. The hotel, which has been closed since 2009, had slipped into receivership.
BROOKHAVEN, N.Y. — Washington Trust has provided a $10.3 million loan to an affiliate of MCR Development for the financing of a 128-room hotel. The SpringHill Suites by Marriott Long Island Brookhaven is located at 2 Sawgrass Dr. in Brookhaven. Cate Fusco of Washington Trust served as lead lender for the project.
BOSTON — Stuart Dean, an architectural restoration services firm, has started rehabbing a century-old hotel in Boston, known as Fairmont Copley Plaza. The $20 million project is mostly confined to the hotel's 384 guest bathrooms where crews will polish the marble flooring, regrout and seal the marble walls. The project is expected to be complete prior to the hotel's centennial celebration this summer. The hotel will remain open throughout the renovation.
NEW YORK CITY — A vacant industrial property at 1621-29 61st Street, located between 16th and 17th avenues in Brooklyn, has sold for $1.7 million. The site includes 8,000 square feet and currently contains a 6,000-square-foot commercial building. The undisclosed buyer plans to build a synagogue on the site. Jeffrey Shalom and Brian Hanson of Massey Knakal Realty Services represented both parties in the transaction.
NEW YORK CITY — Massey Knakal has arranged the $11.4 million sale of three properties in Manhattan's Greenwich Village neighborhood. The sale includes 175-177 MacDougal St., two mixed-use buildings built in 1837. The building contains 10 apartments, two retail spaces and two commercial spaces. The third building is 179 MacDougal St., a one-story building with five retail tenants. The lower level once housed the former Bon Soir club, where Barbra Streisand launched her career. James Nelson of Massey Knakal Realty Services represented both the buyer, an investor, and seller, a long-term owner, in the deal.