NEW YORK CITY — Woodbridge, N.J.-based Helios Capital has completed the sale of a $2.69 million non-performing loan for a 30-unit, 18,613-square-foot multifamily building in Manhattan's Upper East Side. Josh Malka of Helios Capital represented the buyer, an affiliate of Brick Realty Capital. The lender was a regional bank in the New York area.
Northeast
NEW YORK CITY — A joint venture between Brack Capital Real Estate (BCRE) and InterContinental Hotels Group (IHG) has completed the $46 million acquisition of 180 Orchard St. in New York City's Lower East Side from the developer, Morris Platt. The partnership was arranged by Joe Ferrera of Brunello Hospitality. The team plans to develop the multi-use property to include a 290-room Hotel Indigo with a retail component, restaurant, bar, fitness center and outdoor pool. BCRE will own 51 percent of the shares while IHG will own the remaining 49 percent. The hotel is scheduled to open in 2013.
BENSALEM, PA. —Joseph Brecher of Livingston, N.J.-based Gebroe-Hammer Associates has closed on the $15.5 million sale of the 192-unit Hamilton Court East, located at 3455 East St. in Bensalem. The 15-buildling complex has been recently renovated with upgrades to its kitchens, baths, windows, roofs, HVAC units and parking areas. Brecher represented the seller, 3455 East Real Estate Trust, and procured the buyer, a private investor.
QUINCY, MASS. — Cushman & Wakefield's Sonnenblick Goldman (CWSG) has arranged a 5-year, fixed-rate, $13 million mortgage in support of Synergy Investment & Development's $25 million acquisition of 200 Newport Ave. in Quincy from ING Clarion Partners. The loan was provided by Principal Global Investors through its subsidiary Principal Life Insurance Co.
RIDGEFIELD, CT. — Andrew Stewart and Dev Morris of Chatham, N.J.-based Cronheim Mortgage have arranged a $9.6 million loan secured by three, 100 percent leased multifamily properties in Ridgefield which total 79 units. The properties, which are all located within a mile of each other, are Beechtree Manor Apartments, Governor House Apartments and Grove Street Apartments. The 10-year loan has a fixed interest rate of 4.7 percent and a 30-year amortization schedule.
BOHEMIA, N.Y. — CMB Wireless has purchased a 65,220-square-foot industrial/flex building located at 4000 Veteran's Memorial Hwy. in Bohemia for $5.5 million in a deal arranged by Ashlind Properties' Richie Cohen. The 7.2 acre buildling contains 37,250 square feet of office space, 8,270 square feet of R&D/data center space and 19,700 square feet of warehouse space. Charles Tabone and Daniel Gazzola of Newmark represented the seller, Avaya, in the transaction.
SALEM, N.H. — Needham, Mass.-based Equity Industrial Partners has selected Integrated Builders for a fit-out contract totaling 100,000 square feet of commercial space, located at 9 Northeastern Blvd. in Salem, a 660,000-square-foot warehouse/light manufacturing facility. Integrated Builders will provide fit-outs for 74,000 square feet of warehouse and 26,000 square feet of office space for nora systems. The McKenna Group Ltd. is the project architect.
QUINCY, MASS. — Clarion Partners recently sold the 145,752-square-foot, Class A office building Josiah Quincy Building, located at 200 Newport Ave. in Quincy, for $25 million. The eight-story building features a two-story atrium lobby and flexible 22,000-square-foot floor plates. Robert Griffin, Jr., Edward Maher, Jr., David Pergola and Brian Doherty of Cushman & Wakefield's Boston office represented the seller and procured the buyer, an affiliate of Boston-based Synergy.
GREENWICH, CT. — Freepoint Commodities has signed a lease for 23,160 square feet of space at the 425,000-square-foot Greenwich Office Park, a Class A property located in Greenwich. The location will serve as its corporate headquarters. David Block and Michael Siegel of CB Richard Ellis' Stamford, Ct., office represented the asset manager, ING Clarion Partners. Eric Goldschmidt of Scarsdale, N.Y.-based Goldschmidt & Associates represented Freepoint Commodities.
NEW YORK CITY — Equity One has acquired a fee interest in a Manhattan retail condo for $55 million. The property totals 56,870 square feet and is located at 161 W. 16th St. in Chelsea. Loehmann's leases the space until March 2016. The seller's name was not released.