METHUEN, MASS. — Boston-based Suffolk Construction has delivered Steward Holy Family Hospital's emergency center, a 24,000-square-foot, $14.1 million medical facility, in Methuen. The facility includes 32 private treatment rooms, a two-bay cardiac room, a double trauma room and a rapid medical evaluation area in the lobby. The new facility doubles the hospital's emergency center capacity. RFWalsh Collaborative served as the center's project manager, while S/L/A/M Collaborative designed the center.
NEW YORK CITY — The Community Preservation Corporation (CPC) has provided a $10.15 million construction loan in compliance with its Green Financing Initiative to rehabilitate the Cow Bay apartment complex in New York City's Long Island. Cow Bay is located at 2 Bay Green Ln. in Long Island's Port Washington hamlet, and consists of seven two-story garden apartment buildings housing a total 88 residential units. CPC's loan will go to replacing three boilers, new roof installation and reinforcing a retaining wall around the perimeter of the complex. The loan will also go to refinancing Cow Bay's outstanding loan on the property. Apollon Group LLC is the contractor for the complex's rehabilitation.
NORTH HAVEN, CONN. — Executive Landscaping has purchased 37 Nettleton Ave., a 27,000-square-foot facility sitting on 6.73 acres that once housed an EDART truck leasing facility in North Haven, for $1.75 million. Executive is planning on using the property for vehicle maintenance, repair and storage, as well as office space. Bob Adnopoz and Nicholas Morizio represented the seller, Third Generation I, LLC, in the transaction, and Executive Landscaping was self-represented.
KINGSTON, N.Y. — The Hampshire Companies of Morristown, N.J., has acquired Hudson Valley Plaza, a 673,379-square-foot, two-tiered retail property at 401 Frank Sottile Blvd. in Kingston. The property sits on 43 acres and houses tenants such as Walmart, Lowe's Home Improvement Warehouse, Sam's Club, Michael's Arts and Crafts, Petsmart, Gander Mountain and Toys 'R Us. Chris Phaneuf of Eastdil Secured represented the seller, Pyramid Property Group, and The Hampshire Companies in the transaction.
SCARSDALE, N.Y. — A Tudor-style apartment building at 155 Garth Rd. in Scarsdale has been sold for $10.38 million. The 59,783-square-foot property is five stories and features new kitchens, new bathrooms and working fireplaces in all 39 units. Massey Knakal's John Barrett, Darragh Clarke and Swain Weiner represented the seller, Laurel Capital, and procured the buyer. The property consists of three one-bedroom units, 26 two-bedroom units and 10 three-bedroom units.
FRANKLIN, MASS. — NorthMarq has arranged $44 million in first mortgage financing for Franklin Village Plaza, a 304,277-square-foot mixed-use shopping center in Franklin. NorthMarq's Doug Nickerson and Greg Nalbandian arranged the financing based on a 5-year term with a 30-year amortization schedule. The financing was arranged on behalf of borrower CSC Franklin Village LP through NorthMarq's correspondent relationship with Sun Life Assurance Co. of Canada. The shopping center sits on 32.07 acres and features 246,287 square feet of retail space and 57,990 square feet of office space. Tenants include Stop & Shop, Marshalls, British Beer Co. and Panera Bread.
MERIDEN, CONN. — Meetinghouse Village Apartments, a 296-unit apartment community comprised of 228,570 square feet of residential space and a 13,000-square-foot retail center in Meriden, has sold for $16.25 million. Gary Witten, Victor Nolleti and Steve Witten of Marcus & Millichap Real Estate Services' New Haven, Conn., office represented the seller, MHV Realty, and the buyer was represented by Allan Hammer of Branch Eichler. The multifamily property includes a clubhouse with a fitness center, tennis courts and a swimming pool.
GREENWICH, CONN. — Greenwich-based Starwood Property Trust, Inc. recently completed four first mortgage loans totaling $154.4 million. The loan securitization was led by Deutsche Bank Securities, Inc. Three of the loans have a total of $99.8 million of subordinate notes or mezzanine loans secured by a portfolio of hotels, an assisted living facility and an office building.
NEW YORK CITY — The AFL-CIO Housing Investment Trust has invested $134 million to preserve and renovate Penn South Cooperative, a 10-building, 2,820-unit community in midtown Manhattan in New York City. The funds will keep the housing affordable for residents for the next 20 years. The Building and Construction Trades Council of Greater New York funded the venture, which is expected to employ 610 union construction workers. Thomas Schissler of Wells Fargo oversaw the transaction.
NEW YORK CITY — A development property at 1205-1225 Broadway in New York City’s Herald Square was sold for $71.9 million. The three-story office building at 1205-1213 Broadway is approximately 33,189 square feet with a potential maximum square footage of 111,750 square feet. The nine-story office building at 1215-1225 Broadway is approximately 138,250 square feet with a potential maximum square footage of 138,250 square feet. The buildings are currently 25 percent leased with all the remaining leases expiring within 2 years. Massey Knakal’s Robert Knakal, John Ciraulo, Craig Waggner and Jonathan Hageman represented the seller, while Daniel Rahmani and Ebi Khalili of Venture Capital Properties represented the buyer.