NEW YORK CITY — An elevator loft building, located at 449 Washington St. in New York City's Tribeca neighborhood, has been sold for $6.9 million. The five-story property spans 8,200 square feet. James Nelson, Christopher Johnson and Nick Petkoff of Massey Knakal represented the seller, while Prudential Douglas Elliman represented the buyer, a residential condominium converter. The property features a conference room, hair and make-up room, full bathroom, TV lounge, kitchenette and DJ platform.
PORT CHESTER, N.Y. — GHP Office Realty has purchased 24 condominium units in the 39-unit Brookchester Court, located at 342 Westchester Ave. in Port Chester, for $3.1 million. Gene Pride and Christopher Leonard of CB Richard Ellis' New York office represented the seller, HSBC, and also procured the buyer.
CAMILLUS, N.Y. — NorthMarq Capital has arranged $7.5 million in first mortgage financing for the 85,000-square-foot Med Center West, a medical office building located at 5700 W. Genesee St. in Camillus. Michael James of NorthMarq's upstate New York office arranged the financing with a 7-year term and a 25-year amortization schedule through Rockville Bank.
BURLINGTON, VT. — Construction is under way for the 125-bedroom Hotel Vermont, located at 41 Cherry St. in Burlington. The structure was designed by Israel Smith of Burlington-based Smith Buckley Architects and Kim Deetjen of TruexCullins Interiors to achieve LEED certification. The hotel will include the Hen of the Wood Restaurant, the Juniper Lounge, an outdoor terrace and two water-view event rooms. NBT Bank and the U.S. Department of Agriculture have financed the hotel, which is slated for an April 2013 opening.
DOVER, DEL. — New York-based Morgan Eagle Meadows, LLC, has purchased the 298-unit Eagle Meadows, a 352,202-square-foot multifamily complex located at 4666 Carolina Ave. in Dover, for $23.2 million. The complex features a fitness center, walking trails, playgrounds, a lighted basketball court and a fenced dog park. Victor Nolletti and Steve Witten of Institutional Property Advisors (IPA), a multifamily brokerage division of Marcus & Millichap, and Michael Early and Mark Thomson of Marcus & Millichap represented the seller, El Paso, Texas-based Hunt Cos., and Noletti, Early and Witten represented Morgan Eagle Meadows.
PALISADES PARK, N.J. — Fort Lee, N.J.-based Blumberg & Freilich Equities has purchased a 60,000-square-foot condominium project via a 363B bankruptcy sale from Oritani Bank for $10.75 million. The property consists of 48 units. Helios Capital Advisors represented both parties in the transaction.
BROOKLINE, MASS. — Boston-based EagleBridge Capital has arranged $11.6 million in financing for a two-story, 36,350-square-foot retail property located at 1285 Beacon St. in Brookline. The property features a granite facade with two levels of underground parking. The property's tenants include Staples, Bodyscapes, a fitness center and The Meat House. Brian Sheehan and Ted Sidel of EagleBridge arranged the mortgage through a leading commercial real estate fund.
TUXEDO PARK, N.Y. — Brooklyn-based Watchtower Bible and Tract Society has purchased a 50-acre, 183,000-square-foot research and development campus from the International Paper Co. in Tuxedo Park located at 1422 Long Meadow Rd. for $3.2 million. Watchtower plans to construct its world headquarters at the site. Steve Perfit and Peter Malone of Cushman & Wakefield/Pyramid Brokerage Co. represented the seller, and Goshen, N.Y.-based R.J. Smith Realty represented the buyer.
NEW YORK CITY — TerraCRG has brokered the sale of three multifamily properties in the Bushwick neighborhood of Brooklyn for a combined $1.8 million. Matthew Cosentino of TerraCRG represented the buyers and sellers in the three separate transactions. The three buildings include: 154 Bleecker Street for $575,000 (6 units) 175 Irving Avenue for $610,000 (5 residential unit, 1 retail unit) 300 Harman Street for $580,000 (6 units)
BOSTON — Teachers Insurance and Annuity Association (TIAA-CREF) has purchased 33 Arch Street, a 33-story, 600,000-square-foot office tower in Boston. The Class A tower is currently 90 percent leased to tenants such as Digitas, The Securities and Exchange Commission and DLA Piper Rudnick. The property is LEED Gold certified and features a 821-space parking garage. AREA Properties Value Enhancement Fund IV and partner Ivanhoe Cambridge were the sellers of 33 Arch Street. Eastdil Secured represented the buyer in the transaction.
