NEW YORK CITY — A 4,762-square-foot, 22-unit retail condominium, located at 456 West 19th St. and Tenth Avenue in New York City, has been sold for $6.55 million. Ronald Solarz, Eric Anton and Eric Weinberg of Eastern Consolidated represented the seller and procured the buyer, a New York-based private company.
Northeast
NEW YORK CITY — Jones Lang LaSalle has completed a 3-year lease extension on behalf of Hunts Point Terminal Produce Cooperative Association for 660,000 square feet of warehouse space in the Bronx. Paul Mas and Michael Shenot, both with the JLL New York office, along with a team of members of the firm's New York and Parsippany, N.J., office, represented the market. Seth Pinksy of the New York City Economic Development Corp. represented the landlord in the transaction.
NEWARK & IRVINGTON, N.J. — Marcus & Millichap has negotiated the sale of three apartment buildings in New Jersey in two separate sales that totaled $1.14 million. Nat Gambuzza and Christopher Rizzolo of the New Jersey office had the exclusive listing to market two apartment buildings in Newark, totaling 18 units, on behalf of the seller, a Midwest-based financial institution. Additionally, Rizzolo secured the buyer, a local investor. Rizzolo also represented both the buyer and the seller for a 19-unit building in Irvington.
NEW YORK CITY — Meridian Capital Group has secured a $7.1 million mortgage to refinance a mixed-use property located at 344-348 West 38th St. in Manhattan. The five-year loan was secured through a local savings bank. Judah Hammer of the New York City office negotiated the financing.
MELVILLE, N.Y. — Cushman & Wakefield Sonnenblick Goldman has arranged the sale of the 304-room Hilton Long Island/Huntington, located at 598 Broad Hollow Road in Melville, to a joint venture between The Dow Hotel Company and Prudential Insurance Company of America. The hotel will undergo a $15 million renovation, which will include upgraded hotel rooms, corridors, public spaces, HVAC, parking and landscaping. Cushman & Wakefield Sonnenblick Goldman's New York office represented the seller, Melville Hotel Owner 2010.
LYNNFIELD, MASS. — Three tenants have sign leases at MarketStreet Lynnfield, the mixed-use project currently under development by WS Development and National Development. Whole Foods signed a 45,000-square-foot lease, Kings signed a 21,000-square-foot lease and Legal C Bar signed a 7,100-square-foot lease. Upon completion, MarketStreet will contain 395,000 square feet of retail and restaurant space, 80,000 square feet of office space, 180 apartments and a King Rail Reserve golf course. Infrastructure work is currently taking place with full construction scheduled to begin in early 2012.
NEW YORK CITY — Continental Casualty Corp. has signed a 19-year, 81,296-square-foot lease at 125 Broad St. in Manhattan. Alan Grossman of ARG Realty Consultants and Stephen Siegel, Bruce Surry and Christopher Mansfield of CB Richard Ellis' New York City office represented the tenant. Mark Ravesloot, Peter Turchin and Gerry Miovski, also of CBRE's New York City office, represented the landlord, Mack-Cali.
WALLINGFORD, CT. — Burns & McDonnell has signed a lease for 27,635 square feet of space at the 305,000-square-foot Campus at Greenhill, located at 108 Leigus Rd. in Wallingford. Burns & McDonnell expects to relocate from its existing Wallingford facility on Thorpe Avenue in September into the new space, which will include a training room, auditorium, conference rooms, a library and areas for Engineering, Project Management and Operations staff. Cushman & Wakefield represented the landlord in the lease transaction.
NEW YORK CITY — Atlanta-based Hodges Ward Elliott (HWE) has represented IFA Hotel Investments (IFA) in the capitalization of the 669-room YOTEL Hotel, located at the intersection of 42nd and 10th in New York City. YOTEL is part of a new billion dollar mixed-use development by Related Companies. The hotel was sold to IFA on a turnkey basis upon completion, which was scheduled from the beginning of the development. Amenities include a restaurant, several bars and lounges, a 5,000-square-foot outdoor terrace, event space and exercise room. HWE sourced $240 million of senior, mezzanine and preferred equity financing, which IFA used to retire the construction loan and acquire YOTEL.
LEXINGTON, MASS. — Cushman & Wakefield has brokered the $10 million sale of the 48-unit Battle Green Apartments in Lexington. Simon Butler, Biria St. John, Michael Byrne and John McLaughlin of Cushman & Wakefield Capital Markets' Boston office represented the seller, Battle Green Apartments Trust, Curtis R. Kemeny, Trustee, an affiliate of Boston Residential Group, and procured the buyer, Hamilton Battle Green Apartments, an affiliate of Boston-based The Hamilton Company.