NEW YORK CITY — New York City-based Massey Knakal has brokered the $2.7 million sale of a commercial condominium in the Chelsea neighborhood of Manhattan. The property is located on the sixth floor of the Chelsea Arts Tower, which was completed in 2006. Massey Knakal’s Brock Emmetsberger and Cindy Glanzrock of Glanzrock Realty Services represented the seller.
PLAINVILLE, CONN. — 94 W. Main Apartments has purchased 42 apartment units in downtown Plainville for $2 million from a private owner. Located at 94 West Main St., the three-story building has 39 one-bedroom units and three efficiency units. Each one-bedroom unit has between 500-600 square feet of living space, while the efficiency units have 400 square feet. Steve Witten, Victor Nolletti and Eric Pentore, all of Marcus & Millichap, brokered the deal along with Westport, Conn.-based attorney Brad Aron, who represented the buyer, and Southington, Conn.-based attorney Roman F. Garbacik, who represented the seller.
NEW YORK CITY — A 7,500-square-foot industrial building in Long Island City in Queens has been sold for $1.9 million in an all-cash transaction. The single-story building is located at 11-26 46th Road and was delivered vacant. The property has one overhead roll-up door and loading dock. Al Holloman of Massey Knakal handled the transaction. The buyer is an art gallery relocating from Manhattan.
BRAINTREE, MASS. — Carpenter & Co. and Boston-based BayNorth Capital have broken ground on a redevelopment project in Braintree, Mass. The project will include a Hyatt Place Hotel and several retail stores. The site is located at 37 Forbes Road, where the former Sheraton Braintree stands. The development spans 10.2 acres and will house a new retail development comprised of a new 32,000-square-foot retail building, a restaurant and a 6,000-square-foot retail pad, currently under lease with Jared, The Galleria of Jewelry.
MACUNGIE, PA. — Malvern, Pa.-based Liberty Property Trust has purchased a 535,000-square-foot distribution property for approximately $32 million, including $8 million in costs and anticipated costs. The property has been mostly vacant for the past 5 years, but Liberty has executed a long-term lease for 63 percent of the building. The property is located at 7533 Industrial Park in Macungie.
NEW YORK CITY — New York-based Time Equities Inc. has purchased 5,475 of retail space at The Cove Club in Battery Park City for $3.6 million. Tenants include Kumon Learning Center, North American Youth Ballet and South Cove French Cleaners. Hy Schermer and Chris Pulling represented Time Equities in-house and Nick Petkoff of Massey Knakal represented the seller. The Cove Club, a 157,585-square-foot residential building, is located at 2 South End Ave.
MILFORD, MASS. — First 178 Realty has purchased an 8,300-square-foot retail strip center in Milford for $820,000. Eric Brosler of MetroWest Commercial represented First 178 and Victor Galvani of Framingham, Mass.-based Parsons Commercial Group represented the seller. The multi-tenant retail property is located at 178 East Main Street in Milford.
NEW YORK CITY — The Long Island and New York City offices of NorthMarq Capital have arranged $1.8 million in first mortgage financing for a three-story, 3,128-square-foot mixed-use property at 28 E. 13th St. in New York City. Charles P. Cotsalas and Ernest DesRochers of NorthMarq arranged the 5-year term loan with a 25-year amortization schedule through NorthMarq’s correspondent relationship with Stan Corp Mortgage Investors. The major tenant of the property is Souen Restaurant, a natural, organic and macrobiotic foods restaurant located on the first floor.
LYNN, MASS. — NAI Hunneman has brokered the $1.6 million sale of 653-61 Western Ave. in Lynn. The property consists of 28 apartment units and one commercial building. Carl Christie and Dan McGee of NAI Hunneman represented the seller, Avalon Realty, and procured the buyer, Stanley Bailey.
MANSFIELD, MASS. — Cushman & Wakefield helped broker the sale of West Village, a 200-unit, Class A apartment community developed by Fairfield Residential. Simon Butler, Biria St. John, Michael Byrne and John McLaughlin, all of C&W, represented the seller, Fairfield Green at Mansfield, and procured the buyer, Behringer Harvard West Village Project Owner. The property sits on 28.6 acres and consists of seven three-story, garden-style apartment buildings.
