YORK, PA. — The 124-unit York View Hotel, a distressed asset located in York, has sold for $1.15 million. Joe McCann of Philadelphia-based Optimum Hotel Brokerage represented the seller, a large regional bank.
NEW YORK CITY —Coty has leased an additional 101,736 square feet of space at the Empire State Building to consolidate its North American headquarters. Coty already occupies 86,000 square feet at the building and will expand in April 2012 when it relocates from One Park Avenue and Two Park Avenue. Ralph Giordano and Richard Bernstein of Cassidy Turley's New York City office represented the tenant in the negotiations and Ryan Kass, William Cohen and Lauren Davidson of Newmark Knight Frank's New York City office represented the landlord, W&H Properties, which is supervised by Malkin Holdings.
MAHWAH, N.J. — The 38,500-square-foot 500 Corporate Drive, located off Route 17 in Mahwah, has been sold for $3.32 million. The industrial/flex facility offers 15,500 square feet of warehouse space, 10,500 square feet of flex/assembly space and 12,500 square feet of office space. Kenneth Lundberg of NAI James E. Hanson's Hackensack, N.J., office represented the seller, MSS Associates. Mark Siegler and Marc Hirschinger of Cassidy Turley's Teaneck, N.J., office represented the buyer, ARC Global Holdings.
NATICK, MASSACHUSETTS — Boston-based EagleBridge Capital has arranged $3 million permanent mortgage financing for the 59,500-square-foot office building 313 Speen Street in Natick. Tenants include Battelle Memorial Institute, MetroWest Orthopedics and Sports Medicine, Nasuni Corp., Clinivation and Bright Horizons Child Care Center. Ted Sidel and Brian Sheehan secured the loan through a regional financial institution.
NEW YORK CITY — Newton, Mass.-based Government Properties Income Trust (GOV) has acquired a 187,060-square-foot building in New York City for $114 million. The building is 100 percent leased to the United Nations. The purchase was funded by using cash on hand and drawings under GOV's revolving credit facility.
PROVIDENCE, R.I. — Boston-based Winn Companies has sold the 231-unit 903 Residence, located at 903 Providence Place in Providence, for $26.4 million to Core Investments/SMC Corp. Amenities include garage parking, clubhouse, fitness center, business center, media room and resort-style swimming pool and sun deck. Michael Carucci of Boston-based Group Boston Real Estate represented both parties in the transaction.
BOSTON, MASS. — Colliers International has secured a $25 million bridge loan for the 223,445-square-foot, 11-story Two Oliver Street, a Class A office building, located in the center of the Financial District in Boston. Kevin Phelan, Stephen Horan and Ryan Bradley of the Boston office represented the borrower, P6/Saracen Two Oliver Real Estate, a joint venture between Saracen Properties and AEW Capital Management, L.P. Webster Bank, the main subsidiary of Webster Financial Corp., financed the transaction.
NEW YORK CITY — Whitney Museum of American Art has broken ground on a new nine-story, 200,000-square-foot building, located on Gansevoort Street in Manhattan's Meatpacking District. Renzo Piano is the architect on the project, which is expected to be New York City's first certified LEED Silver art museum. The Whitney has raised $508 million of its $720 million project budget, which includes funds for construction and endowment. The building is scheduled to open in 2015.
SOUTH KINGSTON, R.I. — Tower HIll Landings, an affiliate of Newport, R.I.-based Landings Real Estate Group, has purchased the 132-unit Kingston Gardens for $9.38 million. Simon Butler, Biria St. John, Michael Byrne and John McLaughlin of Cushman & Wakefield Capital Markets Group's Boston office represented the seller, Hall Keen CDT Kingston L.P., an affiliate of HallKeen Management, and procured the buyer.
BARRINGTON, N.H. — Portsmouth, N.H.-based The Kane Co. has completed the sale of a 30,000-square-foot industrial building, located at 246 Calef Highway in Barrington. Pete Billipp represented the seller and procured the buyer, a local business owner.