Northeast

HAMPSHIRE COUNTRY CLUB SELLS FOR $12.1 MILLION

by admin June 17, 2010

MAMARONECK, N.Y. — A joint venture between Westport Capital Partners and New World Realty Advisors has acquired Hampshire Country Club for $12.1 million. Situated on appeoximately 116 acres at 1107 Cove Road in Mamaroneck, the property contains an 18-hole golf course, a driving range, chipping and putting greens, seven tennis courts, a heated pool, a children's payground, a fitness center and dining rooms. The property was renovated in 2006. William Cuddy, Jr., and Budd Wiesenberg of CB Richard Ellis' Westchester, N.Y., office represented the seller.

June 17, 2010

GEBROE-HAMMER COMPLETES FOUR N.J. APARTMENT SALES FOR $6.75 MILLION

by admin June 17, 2010

ORANGE AND EAST ORANGE, N.J. — Gebroe-Hammer Associates has completed four multifamily transactions totaling more than $6.75 million. In the first transaction, a 47-unit property located at 466 Highland Ave. in Orange sold for $3.25 million. The seller was 466 Realty Management LLC. In addition, three transactions closed in East Orange. The first was the $1.4 million sale of a 30-unit property at 69 N. Arlington Ave. The second was the $1.2 million sale of 40-unit property at 68-78 Elmwood Ave. The third was the $900,000 sale of a 23-unit property at 38 Winans St. Gebroe-Hammer's David Oropeza led the brokerage teams in each transaction. Gebroe-Hammer's David Jarvis assisted him in the Highland Avenue deal, and Steven Tenenbaum, also of the firm, assisted with the Arlington Avenue deal.

June 17, 2010

Multifamily Northeast

TWO MANHATTAN RENTAL BUILDINGS OPEN

by admin June 16, 2010

NEW YORK CITY — Atlantic Development Group has opened two new apartment buildings in Manhattan. The first is 2 Cooper, a 15-story building located at the intersection of East 4th Street and The Bowery in Cooper Square. Amenities for residents include a 6,500-square-foot, landscaped roof that has an outdoor pool, a bar area and barbecue pits. Other amenities include The Coopers Den, which contains a fitness center, a lounge, a game room and a private screening room. The second building is Port 10, a 13-story, 89-unit community located near High Line Park in Chelsea. Community amenities include a rooftop deck with a bar, barbecue areas and an outdoor cinema; a fitness center; a lounge; and 24-hour concierge service.

June 16, 2010

Industrial Northeast

95,000-SQUARE-FOOT WAREHOUSE SELLS IN N.Y.

by admin June 16, 2010

NEW HYDE PARK, N.Y. — CCSI Continental Concessions has acquired a 95,000-square-foot distribution center in New Hyde Park. The single-story building is located at 20 Pulaski St. Raymond Musalo of Greiner-Maltz represented the undisclosed seller. Ian Grusd of Sperry Van Ness represented CCSI. The acquisition price was not disclosed.

June 16, 2010

Civic Northeast

TUFTS U. EXPANSION RECEIVES LEED-SILVER

by admin June 16, 2010

BOSTON — The recent expansion of the Tufts University School of Dental Medicine has been certified LEED-Silver by the U.S. Green Building Council. The project added five stories and 95,000 square feet to the existing 10-story building, which is located at One Kneeland St. in Boston's Chinatown neighborhood. Sustainable features of the project include a high-performance building envelope, a design that promotes the use of daylighting, and state-of-the-art mechanical and plumbing systems. The measures will help the building use 20 to 30 percent less energy and 30 to 45 percent less water. ARC/Architectural Resources Cambridge was the project architect, and Shawmut Design & Construction was the general contractor. The building opened late last year.

June 16, 2010

Civic Northeast

SKANSKA TO COMPLETE $48 MILLION LOGAN AIRPORT RENOVATION

by admin June 15, 2010

BOSTON — Massport has selected Skanska USA to complete a $48 million expansion and renovation of Terminal C at Logan Airport in Boston. The project will include the construction of a consolidated baggage check point, the construction of expansion shell space, the replacement of the main ticketing hall, and the replacement of mechanical and electrical systems, including a new HVAC system. Construction will begin THIS MONTH and is expected to take 18 months to complete.

June 15, 2010

Hospitality Northeast

RITCHFIELD, SHELBOURNE ACQUIRE RENAISSANCE SYRACUSE HOTEL

by admin June 15, 2010

SYRACUSE, N.Y. — A joint venture between Ritchfield Hospitality and Shelbourne Falcon Investors has signed an agreement to acquire the Renaissance Syracuse Hotel in Syracuse. The 20-story hotel contains 279 rooms and suites. The joint venture plans to complete a $5 million renovation to the property that will include converting it to the Crowne Plaza brand. Ritchfield will operate the hotel once the deal closes, which is expected in July.

June 15, 2010

Multifamily Northeast

GFI COMPLETES $10.71 MILLION APARTMENT SALE IN BROOKLYN

by admin June 15, 2010

NEW YORK CITY — GFI Realty Services has completed the sale of two apartment buildings in Brooklyn's Park Slope neighborhood for $10.71 million. The buildings contain a total of 45 units and are located at 477 3rd St. and 225 13th St. Yanni Simantov and Shulem Paneth of GFI represented the seller, Sheldon Gold. Roni Aboudi, also of GFI, represented the undisclosed buyer.

June 15, 2010

Northeast Office

50,000-SQUARE-FOOT BUILDING SOLD IN SOMERSET FOR NEW DATA CENTER

by admin June 14, 2010

SOMERSET, N.J. — Core Services Corp. has acquired a high-tech/flex building in Somerset for its new headquarters and data center. The 50,000-square-foot property is located on 5 acres at 130 Belmont Drive. Mary Ryan of Cushman & Wakefield's Edison, N.J., office represented the buyer. CB Richard Ellis represented the seller, a major Wall Street Bank. The acquisition price was not disclosed.

June 14, 2010

Northeast Office

GRANT STREET ASSOCIATES BROKERS PITTSBURGH OFFICE SALE

by admin June 14, 2010

PITTSBURGH — Grant Street Associates has brokered the sale of a Pittsburgh office building for $2.52 million. The eight-story building is located at 938 Penn Ave. It contains 33,320 square feet of office space and 4,400 square feet of ground-floor retail space. It is fully occupied by a tenant roster that includes Community Design Center, NAMI of Southwestern Pennsylvania and Serb National Federation. Grant Street's Michael Sell arranged the deal between the seller, Rugby Realty Co., and the buyer, 938 Penn Avenue LLC.

June 14, 2010

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