NEW YORK CITY — Massey Knakal Realty Services has completed the sale of a two-story, 5,025-square-foot commercial building located at 207 W. 75th St. on Manhattan's Upper West Side for $5.03 million. The deal included additional air rights. Massey Knakal's Paul Smadbeck arranged the deal between the two undisclosed parties.
NEW YORK CITY — ING Clarion has purchased a loft apartment building located in Brooklyn's Williamsburg neighborhood for $27 million. The property, 44 Berry Street, is a six-story, 54,000-square-foot former warehouse containing 42 units and six ground-floor retail spaces. Amenities include a fitness center, a laundry room and a 4,600-square-foot rooftop terrace. The property was fully leased at the time of closing. The seller's name was not released.
CLINTON, N.J. — Ikaria has signed a lease that will relocate its company headquarters to 101,641 square feet within Perryville III, a 288,566-square-foot, Class A office building located at 53 Frontage Road in Clinton. The Jones Lang LaSalle team of Tom Reilly, Dino Mattessich and Derek DeMartino represented the tenant in lease negotiations. The landlord was not disclosed.
SYOSSET, N.Y. — NorthMarq Capital has arranged $7.7 million in construction and permanent financing for a retail project in Syosset. The project, which is located at 240 Jericho Turnpike, consists of the conversion of a former car dealership into a 30,000-square-foot, high-end retail center. The financing includes a 2-year acquisition, construction and renovation financing component along with a non-recourse, permanent loan for up to 10 years. Ernest Des Rochers of NorthMarq's New York City office and Charles Cotsalas of the firm's Long Island office secured the financing through a regional bank on behalf of the undisclosed borrower.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a 6,670-square-foot apartment and retail property located at 53 5th Ave. in Brooklyn for $1.1 million. Marcus & Millichap's Brooklyn office represented the seller, an estate. Matthew Fotis, within the Brooklyn office, represented the buyer, a partnership. The property traded at a 5.35 percent cap rate.
NEW YORK CITY AND BETHESDA, MD. — Brokerage giant Cushman & Wakefield and finance company Walker & Dunlop have formed a strategic alliance to focus on multifamily agency financing and investment sakes. The alliance seeks to leverage Cushman & Wakefield's investment sales platform, which expects to completed $3 billion in multifamily sales this year, with Walker & Dunlop's agency lending business, which is active with Fannie Mae, Freddie Mac and HUD finance programs. Cushman & Wakefield Sonnenblick Goldman, the brokerage firm's debt and equity finance arm, will be responsible for directing multifamily agency finance transactions within Cushman & Wakefield.
PARSIPPANY, N.J. — SJP Properties has bought back the first phase of Morris Corporate Center IV, a five-story, 350,000-square-foot office building located in Parsippany. SJP originally developed the property in 1999. Occupancy was 93 percent at the time of closing. SJP plans to complete a capital improvements program in the near term. Eastdil Secured brokered the deal. Northwestern Mutual Life Insurance is SJP's equity partner in the property.
NEW YORK CITY — MDSzerbaty Associates Architecture (MSDA) has been selected to design the conversion of part of the former New York Foundling Hospitall in Manhattan into a public elementary school. PS340 will occupy 95,000 square feet on the lower six floors of the 14-story building, which is located at the corner of Avenue of the Americas and 17th Street. The new school will feature 21 classrooms, a cafeteria and dance studio, a second-floor rooftop playground, a two-story lobby and two-story spaces throughout the building. The construction timetable was not released.
SADSBURY TOWNSHIP, PA. — West Chester, Pa.-based telecommunications company Communications Test Design Inc. (CTDI) has renewed its lease for a 314,521-square-foot warehouse located at 200 W. Stewart Huston Drive in Sadsbury Township. The lease is for a 5-year term. CTDI originally took occupancy in 2006. BPG Properties is the landlord.
ATTLEBORO, MASS. — The Federated Companies has disposed of the remaining retail property in its portfolio. The property is a 15,950-square-foot, freestanding building located at 115 Washington St. It is fully occupied by Goodwill Industries. The property sold to a private party for $2.63 million.