NEW YORK CITY — ALMA Realty has acquired the former Apple Tag Building in Queens' Long Island City neighborhood for $21.5 million. The buyer plans to redevelop the five-story, 230,000-square-foot industrial loft building into retail and office space. Two floors will be added to the structure. Education and exhibition space will also be constructed. Kostas Alafoyiannis and John Maltz of Greiner-Maltz represented ALMA as well as the undisclosed seller. The development timetable was not released.
NEW YORK CITY — Sioni & Partners has brokered the sale of 1135 Boynton Avenue, a six-story, elevator-served apartment building located in the Bronx. The building contains 82 residences comprising 11 studios, 58 one-bedrooms, seven two-bedrooms and six three-bedrooms. Moses Sioni of Sioni & Partners represented the undisclosed seller. The buyer was also undisclosed. The property traded at an 8.9 percent cap rate.
NEW YORK CITY — Beech Street Capital has arranged a $74 million Fannie Mae loan to refinance a New York City multifamily portfolio. The loan carries a 10-year term with 10 years of interest-only payments and a fixed interest rate. The portfolio consists of 615 units in 13 mid-rise buildings located throughout Manhattan that are owned by the Haruvi family. Moshe Majeski and Chaim Tessler of Meridian Capital Group originated the financing.
WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured a $35 million loan to refinance an office/R&D building located in Waltham. The two buildings contain a total of 200,928 square feet of space and are located at 50 and 60 Sylvan Road within the Reservoir Woods East Campus. Verizon Laboratories is the sole tenant of both buildings. Amenities include a full-service cafeteria, a conference center and an on-site credit union. The borrower is a joint venture between Prudential Real Estate Investors, The Davis Companies and Marcus Partners. The HFF team of Riaz Cassum and Greg LaBine arranged the loan.
NEW YORK CITY — Construction is complete for VillageCare Rehabilitation and Nursing Center, a 65,000-square-foot, 105-bed skilled nursing facility located at 214 W. Houston St. in New York City. Developed by the nonprofit Village Care, the facility features a physical rehabilitation room, a meditation room overlooking a landscaped courtyard, a rooftop deck, and dining and common areas on each floor. The project has applied for LEED certification. Levien & Co. was the construction manager and Perkins Eastman was the project architect.
MONROE AND CRANBURY, N.J. — Cushman & Wakefield has brokered the sale of a 1.03 million-square-foot industrial portfolio located in Monroe and Cranbury. Situated within the New Jersey Turnpike Exit 8A submarket, the portfolio comprises six buildings that were combined 93 percent leased at the time of the sale. The buyer was an investment fund managed by Morgan Stanley and the seller was BlackRock. The Cushman & Wakefield team of Andrew Merin, David Bernhaut and Gary Gabriel represented the seller and procured the buyer.
PHILADELPHIA — The grand opening has been held for the new Philadelphia Wholesale Produce Market. Developed by O'Neill Properties, the project included the brownfield remediation of five sites formerly used as auto scrap yards. The new 667,000-square-foot building constructed on the site is 100 percent refrigerated. It contains 228 enclosed and refrigerated dock areas that are 50 feet wide each; 40-foot clear ceilings; a skylight running the length and width of the building; a central walking concourse that is open to the public; second-floor office space; ten private entrances; and one public entrance. The project also includes an 18,000-square-foot auxiliary building used for pallet and food recycling. Twenty-six vendors will relocate to the building's 68 stalls when the market officially opens on April 2.
STAMFORD, CONN. — Cushman & Wakefield Sonnenblick Goldman has arranged a $38 million permanent locan for 1600 Summer St., a 261,000-square-foot, Class A office tower located in Stamford. The loan carries a 15-year term and was provided by a life insurance company. The borrower was Benenson Capital Partners, which also developed the property in 1980 and has owned it continuously since then. The office building is fully leased to three tenants: General Electric, Philips Electronics and AON Corp.
PORTSMOUTH, N.H. — Minnesota-based Mercury Investment Co. has purchased the 125-room Hampton Inn Portsmouth for an undisclosed amount. North Carolina-based Concord Hospitality has been tapped to manage it. Hodges Ward Elliott represented the seller, Greenwich, Conn.-based MillRoc Portsmouth NH LLC.
NEWARK, N.J. — Deerwood Real Estate Capital has arranged a $50 million loan for the Centre Market building, a 380,000-square-foot office building located in Newark. The building, which has the Energy Star designation, is 90 percent leased to the federal government. The loan was arranged by Deerwood's Abe Katz and carries a 7-year term.