NEW YORK CITY — Mack-Cali Realty Corp. has negotiated a new 21-year, 56,106-square-foot lease on behalf of General Reinsurance Corp. (Gen Re), a subsidiary of Berkshire Hathaway, at 125 Broad Street in downtown Manhattan. John Picco and Peter Van Duyne of Cushman & Wakefield's Midtown New York City office and Thomas Kaufman of the Downtown office represented Gen Re in the transaction, and Mark Ravesloot, Peter Turchin, Gerry Miovski, Zachary Freeman and Christopher Levinson of CB Richard Ellis' New York City office represented Mack-Cali.
NEW YORK CITY — Los Angeles-based The Gehr Group has acquired the 244-room Four Points by Sheraton Midtown Times Square, located at 326 West 40th St. in New York City, from The Lam Group for $112 million. The Four Points is adjacent to the Fairfield Inn by Marriott Times Square, which The Gehr Group acquired in 2009. The transaction was part of a $170 million portfolio financing secured by both hotels. Cushman & Wakefield Sonnenblick Goldman represented the buyer for the financing.
NEW YORK CITY — New York City-based GFI Realty Services has represented both parties in the sale of the 72-unit apartment complex 300 Linden Boulevard in Brooklyn for $7.7 million. Josh Orlander represented the seller, Bronstein Properties, and Erik Yankelovich represented the buyer.
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.