RAHWAY, N.J. — A private investor has purchased the 136-unit River Place at Rahway, a multifamily property located at 190 Lewis St. in Rahway, for $26.25 million. Joseph Brecher and David Schwarz of Livingston, N.J.-based Gebroe-Hammer Associates represented the seller, a New Jersey-based builder and developer, and procured the buyer.
YONKERS, N.Y. — New York City-based Time Equities has purchased the 10,000-square-foot 180 McLean Avenue, a retail property in Yonkers (currently leased to Duane Reade) for $3.45 million. Time Equities was self-represented by Amy Ziff, and Gelcor Real Estate and CB Richard Ellis represented the undisclosed seller.
NEW YORK CITY — New York City-based Massey Knakal has brokered the $1.57 million sale of a 10,495-square-foot redevelopment property, located at 79 W. 127th St. in New York City's central Harlem neighborhood. Robert Shapiro and Lev Kimyagarov of Massey Knakal represented the undisclosed seller in the transaction. The five-story property has previously been in disrepair due to a fire.
NEW YORK CITY — The 42-unit The Kingsland, located at 838 Riverside Dr. in New York City's Washington Heights neighborhood, has been sold for $9.4 million. The property spans 56,190 square feet and features new gas lines and a rubber roof. Robert Shapiro of New York City-based Massey Knakal represented the undisclosed seller in the transaction.
ROCKLAND COUNTY, N.Y. — Marcus & Millichap has arranged $17 million in construction financing for a 110-unit luxury multifamily property, located in Rockland County. Steven Rock of Marcus & Millichap's Manhattan office arranged the loan.
NEW YORK CITY — Two mixed-use properties, located at 4906-4908 4th Ave. in New York City's Brooklyn neighborhood, have been purchased for $1.69 million. Matt Fotis and Jeb Hollingsworth of Marcus & Millichap's Manhattan office represented the seller, a private investor. Dolly Amigon of Marcus & Millichap's Brooklyn office represented the buyer, a private owner based in Brooklyn.
PROVIDENCE, R.I. — Washington Trust's Commercial Real Estate Group has provided funding for 137,426 square feet of office space at the Foundry Complex, located on 26 acres along the Woonasquatucket River in Providence, on behalf of the Foundry Associates. Laurel Bowerman of Washington Trust arranged the financing for the three office buildings — the Engineering Building, the Pattern Building and the Shipping Building. The buildings are 95 percent leased to tenants like Northwest Mutual Life, Pitney Bowes, AT&T, Robert Half and Associates, Women and Infants Hospital and Sullivan & Co.
ALLENTOWN, PA. — Coll Materials has signed a 7-year, 104,400-square-foot industrial lease at 5001 Crackersport Rd. in Allentown, valued at $2.6 million. Michael Adams of NAI Summit's Allentown office represented the undisclosed owner in the lease transaction, and Fort Washington, Pa.-based Gelcor Realty represented the tenant.
NEW YORK CITY — SL Green Realty Corp. has formed a venture with Stonehenge Partners to acquire eight retail and multifamily properties in New York City for $416 million. Stonehenge will reposition and manage the residential portion of the portfolio. The full portfolio includes 724 Fifth Ave., 752 Madison Ave., 19-21 East 65th St., 762 Madison Ave., 44 W. 55th St., 400 E. 57th St. and 400 E. 58th St. FTI Consulting advised SL Green and Stonehenge in the transaction. The deal is expected to close in first quarter 2012.
CARLISLE, PA. — Industrial Income Trust has purchased a 201,000-square-foot industrial building, located at 1627 Ritner Hwy. in Carlisle, for $8 million from a family trust. The property is fully leased to Andersen Logistics. Gerry Blinebury, Pat McBride and Leah Balerno of Cushman & Wakefield's Philadelphia office were the sole brokers of the transaction. David Fazekas of Industrial Income Trust's East Rutherford, N.J., office sourced the transaction.
