BRONX, N.Y. — Bethesda, Md.-based Beech Street Capital has given a $5.8 million Fannie Mae conventional loan to refinance the 111-unit The Buckeye Apartments in the Bronx. Meridian Capital Group originated the transaction. The fixed-rate loan has a term of 7 years and a 30-year amortization schedule.
Northeast
NEW YORK CITY — A joint venture between DMR CRE Opportunity Fund I LP and CTNY Investors has purchased 70,000 square feet of Class A office space at The Setai Wall Street, located at 40 Broad St. in New York City. The condominium comprises four commercial floors.
NEWBURYPORT, MASS. — Product Resources has purchased a 33,000-square-foot industrial building, located at 4 Mulliken Way in Newburyport, for $1.62 million from GEM Group Realty. Greg Klemmer and Tim Brodigan of Winchester, Mass.-based Klemmer Associates represented the buyer and Austin Spinella of North Andover, Mass.-based Minco represented the seller.
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.
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.