HACKETTSTOWN, N.J. — David Cronheim Mortgage Corp. has arranged an $18.9 million loan for a Hackettstown shopping center. Mansfield Commons totals 271,979 square feet; its anchors include Walmart and Kohl's. The loan, which was arranged by Cronheim's Andrew Stewart and Lisa McMahon, carries an 11-year term. The borrower and lender were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the sale of The East 89th Street Package, a 39-unit multifamily portfolio located in New York City's Upper East Side. The portfolio contains two properties located at 233 and 302 E. 89th St. An Upper Manhattan family owner purchased the portfolio from a private investor for $6.68 million, which equates to a 5.4 percent cap rate. The Marcus & Millichap team of Peter Von Der Ahe, Joe Koicim and David Lloyd represented both parties.
HARTFORD, CONN. — Colliers International has completed the sale of a 119,790-square-foot industrial building located at 231 Weston St. in Hartford. Summit Development purchased the property from NTAA LP for $1.1 million. Nicholas Morizio of Colliers represented both parties in the deal.
PARSIPPANY, N.J. — Commercial Mortgage Capital has arranged a $5 million loan for the refinancing of a 400-unit apartment community located in Parsippany. The loan, which was provided by Aegon USA, carries a 10-year term and a fixed interest rate. The borrower's name was not released.
BOSTON — The ribbon-cutting ceremony has been held for The Salvation Army Ray and Joan Croc Corps Community Center in Boston's Dorchester neighborhood. The $35 million project consisted of the construction of a 90,000-square-foot building. Features include three gyms, a swimming pool, a soccer field, a learning center, a library, an auditorium, a music room, a chapel and a recording studio. Chelsea, Mass.-based The Architectural Team designed the project.
NEW YORK CITY — Robert K. Futterman & Associates (RFK) has brokered the sale of the leasehold interest in two five-story mixed-use buildings located at 36 W. 34th St. and 41 W. 33rd St. in Manhattan. ISTA WEST 34 STREET LLC purchased the interest from ALGM Leasehold II LLC for $7.4 million. The two buildings total 20,000 square feet. Aerosoles occupies the retail space in the 34th Street building. Jeff Fishman and Brian Segall of RFK Investment Sales & Advisory Services represented both parties.
JEANETTE, PA. — Marcus & Millichap has brokered the sale of a Dollar General located in Jeanette for $1.1 million. The 9,100-square-foot retail property traded at an 8.5 percent cap rate. Judson Kauffman, Matthew Fotis and Glen Kunofsky, all of Marcus & Millichap's New York City office, partnered with Spencer Yablon of the firm's Philadelphia office office to represent the buyer, a limited liability company. The seller also was not released.
DANBURY, CONN. — Marcus & Millichap has completed the sale of Hillcroft at Danbury, a 192-unit apartment community located in Danbury, for $27.65 million. Situated on 10 acres at 10 Clapboard Ridge Road, the property consists of eight buildings. The unit mix includes four studios, 94 one-bedrooms, 82 two-bedrooms and 12 three-bedrooms. The average unit size is 988 square feet. The community has recently undergone interior and exterior renovations. Steve Witten and Victor Nolletti of Marcus & Millichap's Institutional Property Advisors group represented the seller, Fairfield Hillcroft LLC, as well as the buyer, Par Hillcroft LLC.
MIDDLETON, MASS. — The Davis Companies has purchased Ferncroft Corporate Center from its lender for $15.3 million. The property consists of an eight-story, 226,338-square-foot office building located on 13 acres in Middleton. It was built in 1990 as the headquarters for Verizon's information services division. At the time of the sale, it was 68 percent occupied. The Cushman & Wakefield team of Robert Griffin, Jr., David Pergola and Brian Doherty represented the seller and procured the buyer.
NEW YORK CITY — Massey Knakal Realty Services has brokered the sale of a five-story townhome located at 107 E. 37th St. in Manhattan's Murray Hill neighborhood for $5.25 million. The building totals 8,296 and contains six apartments, including two rent-stabilized units and an owner's duplex. Only the duplex was vacant at the time of closing, and the new owner plans to leave the unit vacant for personal use. John Ciraulo and Michael Azarian arranged the deal between two undisclosed parties.