NEW YORK CITY — New York City-based Massey Knakal have brokered the sale of two mixed-use buildings located at 405-407 Atlantic Ave. in Brooklyn, New York City, for $1.87 million. The properties, which total 4,500 square feet, each contain a retail unit on the ground floor and two apartments above. Stephen Palmese and Winfield Clifford of Massey Knakal represented both the buyer and the seller.
Northeast
NEW YORK CITY — Net-A-Porter has signed a 32,144-square-foot lease at 100-104 Fifth Ave. in New York City. This is the first United States location for the U.K.-based company. Grant Greenspan, Michael Kaufman and Elliot Warren of New York City-based The Kaufman Organization represented the landlord, and Owen Hane of Cushman & Wakefield's New York City Midtown office represented the tenant.
PHILADELPHIA — Ground has broken on the four-story, 205,000-square-foot Five Crescent Drive, a new office building located at the Navy Yard Corporate Center in Philadelphia. Liberty Property Trust and Synterra Partners are the developer on the project and Robert A.M. Stern is the architect. GlaxoSmithKline has signed a 15.5-year lease for the building.
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.
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.