Thursday, July 16, 2026
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Northeast

NortheastRetail

KEMPNER PURCHASES SYRACUSE SHOPPING CENTER FOR $22M

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SYRACUSE, N.Y. — The Kempner Corporation of White Plains, N.Y., has purchased Western Lights Shopping Center, a 243,000-square-foot grocery-anchored shopping center in Syracuse, for $22 million. The center sits on 26 acres on Onondaga Boulevard and is 97 percent occupied by tenants like Price Chopper Supermarket, Fashion Bug and Aspen Dental. First mortgage financing was provided by New York City-based Ladder Capital Finance. Franklin Cohen of Donald Zucker Co. acted as the mortgage broker in the transaction.

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MultifamilyNortheast

MORTGAGE NOTE ON TWO NYC APARTMENT BUILDINGS SELLS FOR $7.8M

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NEW YORK CITY — A defaulted mortgage note on two adjacent multifamily properties in New York City’s upper west side have been purchased for $7.8 million. The five-story walk-up apartment buildings are located at 132 and 134 W. 109th St. and are a combined 18,720 square feet. The buildings have recently received new roofs and refurbished hallways and corridors. Eastern Consolidated’s Eric Anton and Ronald Solarz represented the owner, a European bank, at the foreclosure sale. A private New York City family, under the corporate name West 109th Holdings, purchased the note. Steven Holm, an attorney with Holm & Drath, represented the family and John C. St. Jeanos, an attorney with Herrick, Feinstein, represented the seller in the transaction.

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NortheastOffice

SABEY ACQUIRES $120M CONDO INTEREST IN VERIZON BUILDING

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NEW YORK CITY — Seattle-based Sabey Data Center Properties has acquired a condominium interest encompassing 29 floors of the 32-story Verizon Building at 375 Pearl St. in Manhattan for $120 million. Sabey obtained financing from lenders National Real Estate Advisors to complete the acquisition. Sabey plans on developing the space to be a data processing center called Intergate.Manhattan that should come online in 2012. Cushman & Wakefield’s Sean Brady and Jeffrey Heller represented Sabey and Ron Solarz of Eastern Consolidated represented Sabey’s partner Youngwoo & Associates. CB Richard Ellis represented the sellers, M&T Bank and Taconic Investment Partners.

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HospitalityNortheast

MERIDIAN CAPITAL ARRANGES $85M IN FINANCING FOR HOTEL CHELSEA

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NEW YORK CITY — Meridian Capital Group has negotiated $85 million in acquisition and construction financing for Chetrit Group and Clipper Equities’ purchase and repositioning of the 175,900-square-foot Hotel Chelsea, located at 222 W. 23rd St. Natixis provided the loan and Meridian’s Ronnie Levine and Aaron Birnbaum negotiated the financing.

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MultifamilyNortheast

MASSEY KNAKAL ARRANGES $7.25M SALE OF TWO BROOKLYN MULTIFAMILY BUILDINGS

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NEW YORK CITY — Massey Knakal has facilitated the $7.25 million sale of two multifamily buildings at 278 and 284 S. 2nd St. in the Williamsburg neighborhood of Brooklyn in New York City. The five-story buildings each have 22 residential units and are approximately 21,750 square feet. Most units consist of three bedrooms. The sales price equates to be approximately $166 per square foot. Massey Knakal’s Mark Lively and Brendan Maddigan handled the sale.

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IndustrialNortheast

COLLIERS SECURES $38M REFINANCING FOR APPLETREE BUSINESS PARK

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CHEEKTOWAGA, N.Y. — Colliers International has secured $38 million in refinancing for AppleTree Business Park at 2875 Union Rd. in Cheektowaga. AppleTree’s four buildings span 426,950 square feet. Tenants include AT&T Mobility, TimeWarner NY Cable and Empire State College. Goldman Sachs Commercial Mortgage Capital provided the 10-year, fixed rate loan for AmCap, Inc., the borrower. Kevin Phelan and Jeffrey Black of Collier’s Boston office represented AmCap in the transaction.

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Mixed-UseNortheast

MIXED-USE DEVELOPMENT SITE IN BRONX SELLS FOR $1.03M

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NEW YORK CITY — A mixed-use development site at 3555 White Plains Rd. in the Williamsbridge neighborhood of the Bronx in New York City was sold for $1.03 million. The sales price equates to approximately $30 per buildable square foot as the lot spans 11,600 square feet and provides approximately 34,800 square feet of buildable space. New York City Planning has proposed rezoning the site, which was once used as a parking lot. Karl Brumback of Massey Knakal had the exclusive listing of the property.

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Mixed-UseNortheast

BROOKLYN MIXED-USE PROPERTY SELLS FOR $2.8M

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NEW YORK CITY — A mixed-use building comprised of nine apartment units and seven retail stores located at 825-829 Flatbush Ave. in Brooklyn has been purchased for $2.8 million. The property has a total 13,059 square feet of rentable space, with 9,792 square feet as multifamily space and 3,267 square feet of retail space. Naomi Shu of Marcus & Millichap Real Estate Investment Services’ Manhattan office represented both the buyer and seller in the transaction.

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Mixed-UseNortheast

M&M BROKERS $13.5M SALE OF DEFAULTED MORTGAGE, JUDGEMENT

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NEW YORK CITY — Marcus & Millichap has arranged the $13.5 million sale of a defaulted mortgage and judgment with a seven-story mixed-use building as collateral. The building is located at 148 W. 28th St. in Manhattan’s Chelsea neighborhood. The property includes 26,296 square feet of existing improvements and 66,800 square feet of developmental rights. Barbara Dansker, Adelaide Polsinelli and Matt Rosenzweig represented Marcus & Millichap in-house in the transaction.

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