NEW YORK CITY — Robert K. Futterman (RKF) & Associates has completed the sale of a retail condominium for $2.67 million. The condo is located at 8 W. 19th St. in Manhattan's Flatiron District. Its occupant is Food Works. RKF's Brian Segall, David Alani and Jonathan Butwin represented the buyer, 8 West 19 Retail LLC, and the seller, Bennco Properties.
Northeast
WESTBOROUGH, MASS. — NAI Hunneman has brokered the sale of a 35-unit apartment building in Westborough for $2.6 million. The property is located at 15 Willow St. It contains one studio, 23 one-bedrooms and 12 two bedrooms. It was constructed in 1969 and renovated in the last 4 years. NAI's Carl Christie and Dan McGee represented the seller, 15 Willow Street LLC, and procured the buyer, 15 Willow Westboro LLC.
DANBURY AND BETHEN, CONN. — Arbor Commercial Funding has secured Fannie Mae DUS funds to refinance a portfolio four Connecticut multifamily communities. A $15.11 million loan was arranged for Spring Ridge Apartments, a 138-unit property located in Danbury. A $5.4 million loan was arranged for Park Ridge South Apartments, a 47-unit property also located in Danbury. A $3.13 million loan was arranged for Mountain View Apartments, a 36-unit property located in Beth. Finally, a $3.18 million loan was arranged for Grassy Plain Estates, a 36-unit property also located in Bethel. Each loan carries a 10-year term, a 30-year amortization schedule and a 5.73 percent interest rate. Edward Petti of Arbor's New York City office originated the transactions. The borrower's name was not disclosed.
HUDSON, MASS. — Organic Mulch & Landscape Supply of New England has acquired a 25,000-square-foot industrial facility located in Hudson for $1.25 million. The building, which is located at 17 Brent Drive, features 20-foot clear ceiling heights and 7 drive-in bay doors. The property also contains 5 acres of yard space. Jake Parsons of Parsons Commercial Group represented the buyer. Joel Aho of O'Brien Commercial represented the seller, Road Hole Realty.
NEW YORK CITY — Realty Capital Partners has invested approximately $2.1 million to recapitalize a multifamily rental building located in Manhattan's Tribeca neighborhood. The property contains 11 residential units, two of which are rent stabilized, and two retail spaces. It underwent extensive renovations in 2005. Occupancy was 100 percent at the time of closing. The project's owner, Code RED, plans to convert the apartments to for-sale condominiums.
JERSEY CITY, N.J. — Hoboken Brownstone Co. has commenced development for Van Leer Place, a transit-oriented residential project located in Jersey City. The project will consist of the brownfield redevelopment of the former Van Leer Chocolate Factory at 110 Hoboken Ave. Construction will consist of two six-story buildings with more than 400 homes over 7,500 square feet of retail space. Van Leer Place will include several sustainable features such as a thermally efficient concrete wall system, energy recovery ventilation, a geothermal test well and a solar thermal system. The project will also include a pedestrian walkway to the nearby New Jersey Transit station as well as a new park to be developed adjacent to the project. The construction timetable was not released.
EAST LONGMEADOW, MASS. — Manufactured housing builder Blu Homes has held the ribbon cutting ceremony for its new manufacturing facility. The new production plant totals 80,000 square feet and is located in East Longmeadow. Blu Homes' previous manufacturing facility was located in Littleton, Mass.
WINCHESTER AND WOBURN, MASS. — Fantini & Gorga has arranged $18.44 million in FHA financing for two Massachusetts skilled nursing facilities. The first property is the 121-bed Winchester Nursing & Rehabilitation Center in Winchester, and the second is the 140-bed Woburn Rehabilitation & Nursing Center in Woburn. The loan was placed with Eastern Mortgage Capital, one of Fantini & Gorga's correspondent lenders.
BAYONNE, N.J. — The Bayonne Planning Board has granted approval for the construction of a new medical office building in the city. Bayonne Medical Center plans to construct an approximately 50,000-square-foot building that will house a surgery center, a nursing school, a hospital pharmacy and doctors' offices. Groundbreaking is set to occur in 2011. William Procida is overseeing the project on behalf of Bayonne Medical Center.
CARLISLE, PA. — Hillwood Investment Properties has acquired Key Distribution Center, a more than 600,000-square-foot industrial property located in Carlisle. The Class A facility is situated on a 46.3-acre site at 1700 Ritner Highway. It was constructed in 2007. The seller was a joint venture between Chicago-based companies Higgins Development Partners and Pritzker Realty Group. Steve Bonge, Tim Brogan and Patrick McBride of Grubb & Ellis represented the venture in the deal. Michael Bartolacci, Gerald Bower and Jerry Moore of The Garibaldi Group represented the buyer. The acquisition price was not released.