NEW YORK CITY — Massey Knakal Realty Service has completed the sales of two properties located in Manhattan's Upper East Side for a total of $31 million. In the first deal, a 16,790-square-foot commercial building at 29 E. 61st St. traded for $21 million. The five-story building contains the restaurant Serafina on the ground floor along with six retail and office tenants. Massey Knakal's Guthrie Garvin and Jeffrey Shalom arranged the deal between the seller, Hidrock Realty, and the undisclosed buyer. In the second deal, a five-story, 9,765-square-foot building located at 34 E. 61st St. traded for $10 million. The property contains five residential units on the upper three floors and the restaurant Aureole on the bottom two floors. Guthrie partnered with Paul Massey, Jr., to complete the deal between the two undisclosed parties.
NEW ROCHELLE, N.Y. — Chatham Lodging Trust has closed on the $21 million acquisition of the Residence Inn by Marriott in New Rochelle. The 10-story, 124-suite hotel is located at 35 LeCount Place. It features a fitness center, a swimming pool and structured parking. Island Hospitality Management, an affiliate of Lodging, will manage the hotel.
BALDWINSVILLE, N.Y. — Philadelphia-based Binswanger has brokered the sale of the former Syroco warehouse located in Baldwinsville. The building is situated on 63 acres at 7474 State Fair Blvd. It contains 269,178 square feet of space and has been vacant since Syroco ceased operations in 2007. Tessy Plastics Corp. acquired the building for $3.15 million and plans to occupy it. James Panczykowski of Binswanger was the sole broker in the deal. Binswanger is also marketing the adjacent 217,280-square-foot factory that was also occupied by Syroco.
JERSEY CITY, N.J. — Carlo's Bakery, whose owner Buddy Valastro stars on TLC's show “Cake Boss,” has signed a lease for 30,000 square feet within the Lackawanna Center mixed-use project in Jersey City. The space, which is situated within the 200,000-square-foot Shops at Lackawanna retail component, is currently being renovated to include baking facilities, distribution space and offices. Located at 629 Grove St., Lackawanna Center contains 1.3 million square feet of industrial, office and retail space. It is managed by Emmes Asset Managemnt and Sal Goldman Investments.
SOUTH BRUNSWICK, N.J. — San Francisco-based Terreno Realty Corp. has acquired a 413,092-square-foot distribution center in South Brunswick from a joint venture between IDI and J.P. Morgan Asset Management for $22.5 million. Located at 130 Interstate Blvd., the property is leased to The Home Depot. It features 200 car parking spaces, 28-foot ceiling heights and 13,000 square feet of office space. The building is situated on 25.33 acres within Middlesex Center, a five-building, 3.65 million-square-foot master-planned development. The Cushman & Wakefield team of Gary Gabriel, Paul Torosian, Andrew Merin and David Bernhaut represented the seller.
PORTSMOUTH, N.H. — The Salvation Army has acquired the former Kia auto dealership located at 2458 Lafayette Road in Portsmouth. The buyer plans to convert the 33,000-square-foot building into one of its thrift stores. Jean Kane of The Kane Company represented the buyer. Chris McInnis of Paul McInnis, Inc., represented the undisclosed seller.
UNIONDALE, N.Y. — Uniondale-based Arbor Commercial Funding has arranged three Fannie Mae loans for multifamily properties located throughout the Northeast. In the first deal, John Kelly of Arbor's Boston office secured $4.8 million under the lender's DUS program for Pastorius Court Apartments, a 42-unit property located in Philadelphia. In the second deal, Brian Scharf of Arbor's Uniondale office secured $4.56 million under Fannie Mae's 3Max product line for a 60-unit property located at 655 E. 233rd Street in the Bronx, New York City. In the final deal, Edward Petti of Arbor's New York City office secured a $3.15 million DUS loan for Northbrook Apartments, a 66-unit community located in Bridgeport, Conn. All three loans carry 30-year amortization schedules. The first two loans carry 10-year terms, and the third loan carries a 7-year term.
WOODCLIFF LAKE, N.J. — CB Richard Ellis (CBRE) Realty Trust has acquired a 208,911-square-foot, Class A office building in Woodcliff Lake for an undisclosed amount. The three-story building, which is located at 100 Tice Blvd., is leased to Eisai, Inc., which is occupying the entire building through 2021 as its headquarters. The property was constructed in 2007 and features a two-story atrium lobby with marble floors and mahogany wood panels. The acquisitions team from CBRE Investors assisted in the transaction. The seller's name was not released.
WHITE PLAINS, N.Y. — RHYS Commercial has brokered the sale of a 12,000-square-foot retail property located in White Plains. Situated at 201 Tarrytown Road, the two-story property is tenanted by Papa John's, Subway and Service Master. Alexander Anderson of RHYS served as the sole broker in the deal between the seller, 10 East 127th Street Corp., and the buyer, Marcel Tarrytown Realty.
NEW YORK CITY — NorthMarq Capital has arranged $16 million in first-mortgage financing for 75 Henry Street, a 33-story co-op building located in Brooklyn. The building contains 370 units and is situated within the borough's Brooklyn Heights neighborhood. The loan carries a 10-year term, a 30-year amortization schedule, a 4.79 percent interest rate and a 12 percent loan-to-value ratio. The lender was Freddie Mac. Frank Relihan of NorthMarq's Washington, D.C., office secured the loan on behalf of Whitman Owner Corp.