NEW JERSEY — A joint venture between Vantage Properties and Angelo, Gordon & Co. have purchased AIG's 2,200-unit Central New Jersey multifamily portfolio for $241.5 million. It contains six properties located in Plainsboro, Neptune, Long Branch, Matawan and South River.
Northeast
BRONX, N.Y. — Sierra Realty Corp. has acquired a three-building portfolio of multifamily properties in the Bronx for $15.5 million through affiliate entities Miles Sherman, LLC, Coltrane Hoe, LLC and Thelonius GC, LLC. The buildings include the 76-unit 1515 Grand Concourse, the 46-unit 1136 Sherman Ave. and the 53-unit 1052 Hoe Ave. Mortgage financing of $11.62 million was obtained through Bridgehampton National Bank. Stuart Stein of SBS Associates represented the seller.
NEW YORK CITY — Ava Property Group has sold a 20-unit apartment building located at 527 West 48th St. in New York City to Ranger Management for $3.82 million. Christoffer Brodhead of New York City-based Massey Knakal was the sole broker in the transaction.
NEW YORK CITY — American Realty Capital New York Recovery REIT has purchased a parking garage commercial condominium, located at 33 West 56th St. in New York City, for $5.4 million. The property is currently 100 percent leased to Regal Car Park.
CAMBRIDGE, MASS. — Pegasystems has signed a 163,000-square-foot lease at the 252,000-square-foot One Rogers Street in Cambridge. The company will relocate its corporate headquarters from the current office at 101 Main St. in Cambridge. Roy Hirshland and Mark Cote of T3 Advisors represented the tenant in the transaction, and John Osten, Peter Berkarian and Dan Kollar of Jones Lang LaSalle's Boston office represented Principal Real Estate, the landlord.
NEW YORK CITY — A 1.65 million-square-foot, 42-story office building, located at 1285 Avenue of the Americas in New York City, has received a $372 million refinancing. The building is jointly owned by AXA Equitable Life Insurance Co. and institutional investors advised by J.P. Morgan Asset Management. Whit WIlcox and Mike Tepedino of Holliday Fenoglio Fowler's New York City office secured the 10-year loan through MetLife Real Estate Investments.
NEW YORK CITY — Marcus & Millichap has arranged the $20 million sale of 220 Park Ave. South, a mixed-use residential and retail property in New York City. Peter Von Der Ahe, Joseph Koicim and David Lloyd of the firm's New York City office represented the seller, a Long Island, N.Y.-based family. The buyer was a locally based landlord and private investor.
WEST HAVEN, CONN. — Cosmo's Food Products has signed a lease for 52,800 square feet of warehouse space at 281 Dogburn Rd. in West Haven. Mark Glassman of Milford, Conn.-based Arnold Peck's Commercial World represented the tenant and the landlord, The Shalvah Partnership.
KEARNY, N.J. — Cushman & Wakefield has negotiated the $32.6 million sale of a 211,000-square-foot industrial building, located at 670 Belleville Turnpike in Kearny. Cushman & Wakefield's East Rutherford, N.J.-based Metropolitan Area Capital Markets Group represented the seller, an affiliate of Carlstadt, N.J.-based Russo Development, and San Francisco-based Terreno Realty Corp., the buyer, was self-represented by Andrew Burke. The property is currently 100 percent leased to H.D. Smith.
HOBOKEN, N.J. — Meridian Capital Group has secured a 7-year, $33 million mortgage to refinance the 105-unit Hudson Square South in Hoboken. David Cohen and Russ Drebin of the firm's Iselin, N.J., office negotiated the financing through a local savings bank.