BURLINGTON, VT. — B.R.P. LLC has acquired the Daniel Kern House in Burlington for an undisclosed amount. The building, which is located at 70 S. Winooski Ave., contains 8,500 square feet of Class A office and retail space. Duncan Harris of Redstone represented the buyer. Jed Dousevicz of VT Commercial represented the seller, David Schueur and Retrovest Associates.
NEW YORK CITY — Kalmon Dolgin Affiliates (KDA) has brokered the sale of a the former PS 59 at 535 Leonard St. in Brooklyn for $2.3 million. The buyer, MDIM LLC, plans to redevelop the two-story, 13,500-square-foot building into an 18-unit condominium project. KDA’s Joseph Nicholas represented the MDIM as well as the seller, Polish Legion of American Veterans – George Washington Post #3.
WHITE PLAINS, N.Y. — Houihan-Parnes Realtors has secured a $2 million first mortgage for a four-story office building located at 12 Water St. in White Plains. Con Edison is currently leasing the building. It is performing an environmental clean-up of the site. The terms of the loan and the parties involved were not disclosed.
BOSTON — Boston-based Eaglebridge Capital has arranged $7.45 million in construction and permanent financing for three new industrial buildings under construction in Massachusetts. The first project is the new 20,000-square-foot headquarters for Tool Technology, which is located within Riverview Industrial Park in Middleton. The second project is a 20,000-square-foot distribution facility located within Campanelli Business Park in Middleborough. The third project is a 31,000-square-foot distribution facility located within Westover Air Park in Chicopee. Eaglebridge’s Ted Sidel and Brian Sheehan arranged the loans through three different regional banks.
NEW YORK CITY — Marcus & Millichap has arranged the sale of two Brooklyn multifamily properties in two separate deals. In the first transaction, Marcus & Millichap’s Matthre Fotis and Peter Von Der Ahe represented both undisclosed parties in the sale of a 29-unit apartment building located at 690 Rogers Ave. The building traded for $2.55 million. In the second transaction, John Horowitz of Marcus & Millichap represented both undisclosed parties in the sale of an eight-unit apartment building located at 23 Pierrepont St. The property traded for $1.65 million.
FAIRHAVEN, MASS. — CB Richard Ellis (CBRE) Capital Markets has arranged $2.45 million in first-mortgage acquisition financing for a 49,767-square-foot neighborhood shopping center located in Fairhaven. The property is located at 14-19 Plaza Way. Tenants include Staples, Dollar Tree, McDonald’s and Hungry Heroes. The property is shadow-anchored by Kmart and Shaw’s Supermarket. The loan carries a 5-year term and a 25-year amortization schedule. CBRE’s Aaron Appek and Rayna Karaivanov secured the loan on behalf of the undisclosed borrower.
LAWRENCE, MASS. — Construction has commenced for the conversion of the former Southwick Mill in Lawrence into an affordable housing community. The five-story building, which is located at 50 Island St. along the banks of the Merrimack River, will be renovated to include 60 one-, two- and three-bedroom units. The building will also include a day care, community spaces and commercial space. The renovation is the first phase of the Union Crossing mixed-use project, which is being developed by Lawrence Community Works. For the Southwick Mill project, Bedford, N.H.-based Eckman Construction is serving as general contractor, and Amherst, Mass.-based Coldham & Hartman Architects is the project architect.
WHITE PLAINS, N.Y. — Q10 | New York Realty Advisors has secured $13.75 million in first-mortgage financing for a White Plains office building. The property contains 135,000 square feet of Class A space and is located at 4 W. Red Oak Lane. The owners are principals of Houlihan-Parnes/GHP Office Realty. The lender was a New York-based bank. Terms of the non-recourse financing include a 10-year term with a 6.25 percent interest rate for the first 5 years and a rate reset at year six, along with a 30-year amortization schedule.
NEW YORK CITY — The Community Preservation Corp. (CPC) and the U.S. Department of Housing and Urban Development (HUD) have provided a combined $9.8 million for two affordable housing renovation projects in Brooklyn. The first project consists of the renovation of four three-story buildings containing 26 units that are located in Bedford-Stuyvesant. CPC provided $1.4 million in permanent financing, and HUD provided $3.6 million in subordinate 203K funds. The second project consists of four three-story buildings containing 26 units that are located in Flatbush. CPC provided $637,000 in permanent financing, and HUD provided $4.2 million in subordinate 203K funds.
WEST LEBANON, N.H. — The Boston office of NorthMarq Capital has arranged $7.49 million in permanent financing for Kmart Plaza in West Lebanon. The 178,997-square-foot shopping center is located along Route 12A. Its anchors include Kmart, TJ Maxx and Jo Ann Fabrics. NorthMarq arranged the loan on behalf of the borrower, Windalier West Lebanon LLC, through People’s United Bank. Terms of the loan were not disclosed.