NEW YORK CITY — Deerwood Real Estate Capital has arranged $160 million in financing for the Gansevoort Park Hotel, located at 420 Park Ave. South in Manhattan. Deerwood's Abe Katz, Mark Silbersher and Russell Kimyagarov negotiated the 10-year, fixed-rate loan, comprised of senior and mezzanine debt. Opened since 2010, the hotel includes 249 rooms, a heated indoor and outdoor pool, six event spaces and a full-service spa. The hotel is also home to Ristorante Asellina and Winston's Champagne Bar.
BOSTON — The Boston Redevelopment Authority has approved plans for an 11-story office building on the South Boston waterfront, known as 1 Channel Center. The construction is reportedly $225 million and the building will contain 500,000 square feet. State Street Corp., a financial services company, has pre-leased the full office space. The project will also include the construction of a 980-space parking garage. Construction is scheduled for completion in February 2014.
NEW YORK CITY — Marcus & Millichap has arranged the sale of three Brooklyn apartment buildings for $3.3 million, or $126.92 per square foot. The properties include two, 12-unit buildings located at 1182-1186 Putman Ave. and a six-unit building at 564 Evergreen Ave. Shaun Riney, Matthew Fotis, Peter Von Der Ahe and Scott Edelstein of Marcus & Millichap represented the seller, a limited liability company. Fotis and Riney also secured the buyer, a private investor.
NEW YORK CITY — Construction is complete on the New York Police Department's (NYPD) auto pound in Springfield Garden, Queens. The project included the construction of a 10,000-square-foot facility, which contains a public redemption area, enclosed offices and locker rooms. The 550,800-square-foot site also contains storage for up to 4,000 automobiles impounded by the NYPD. The auto pound was relocated from its former location in College Point, Queens, to make way for a new police academy. Spacesmith served as the architect for the project and Hudson Meridian Construction Group was the project manager. The project team also included MG Engineering, Hage Engineering and Langan Engineering & Environmental Services.
WILLIAMSTOWN, N.J. —NorthMarq Capital has arranged $2.2 million in acquisition financing for Monroe Commerce Center, a 96,800-square-foot industrial property at 1031 Glassboro Road in Williamstown. Michael Aylmer and Doug Austin of NorthMarq Capital secured the 15-year loan through a life insurance lender. The loan contains a 15-year amortization schedule.
BOSTON — A Boston-area landlord is aiming to transform a two-block section of Brainerd Road into the city's first so-called Green District. Mount Vernon Co. will build and manage 500 apartment units that contain several environmental features such as energy-efficient appliances and water meters for individual apartments. The newest apartment building in the neighborhood, the Element, will open with 100 units on July 1. The building is located at 65 Brainerd Rd. in Allston and includes a 2,000-square-foot roof deck, movie theater, fully equipped club room and a car wash station. About 75 percent of the units have already been rented. A second building, known as The Edge, will have 79 units and is expected to open this August. At least one of the buildings will include solar panels and each property will feature super-insulated, floor-to-ceiling windows designed to maximize natural light. The properties will also feature a bicycle rental stand and onsite Zipcars.
PHILADALPHIA — ARC/Architectural Resources Cambridge has been selected to design a 250,000-square-foot science, education and research center at Temple University's main campus in Philadelphia. ARC will design classrooms, lecture halls and research labs. The project is part of the university’s $1.2 billion implementation plan, and will include high-tech classrooms, lecture halls, teaching and research labs, collaboration space and a 2-story atrium that will link the existing College of Engineering and College of Science and Technology buildings to the new facility. The project team includes USA Architects, Brinjac Engineering and Hunt Engineering. The project is expected to be complete by early 2014.
FORT LEE, N.J. — Tucker Development Corp. has received plan approval from the Fort Lee Borough Planning Board for the 1 million-square-foot Hudson Lights, located on more than eight acres in downtown Fort Lee. Hudson Lights is the western portion of a 16-acre site adjacent to the George Washington Bridge. The mixed-use development will feature 165,000 square feet of retail, 477 residential units, a 175-room hotel, an office building and 1,200 parking spaces. Robert K. Futterman & Associates will market the retail space.
STAMFORD, CONN. — A joint venture between Jonathan Rose Cos. and Malkin Properties has opened a new apartment community called Metro Green Residences in Stamford. Perkins Eastman Architects designed the mixed-income development, which was built at the Stamford Transportation Center. The building includes 50 rental units. Of the total, 40 units will be marketed as affordable homes, while the remaining units will be market-rate apartments. The project also includes more than 1,600 square feet of retail space on the ground floor, adjacent to a plaza and rain garden. Amenities include a landscaped courtyard, gardening spaces and a meditation space. The development is the first phase of the Metro Green master plan, which will offer 283 mixed-income residential units and a 350,000-square-foot office tower.
DOVER, N.H. — The Cocheco Waterfront Development Committee has approved plans for a $65 million, mixed-use project known as Dover Landing. The 21-acre site hugs the Cocheco River and is located on a former public works yard. The first phase will include a 16,000-square-foot, two-story building that will include one or two restaurants on the ground floor and offices on the second floor. The project will also include three townhouse-style buildings. The first floors will feature office or retail with residences above. Construction will be completed in two phases from 2013 to 2016. Quincy, Mass-based Dickinson Development will develop the property.
