NEW YORK CITY — Massey Knakal Realty Services has brokered a multifamily sale in Mahattan and an industrial sale in Queens. In the first deal, Massey Knakal's Robert Knakal and Guthrie Garvin arranged the sale of a four-story, walk-up building in Manhattan's Upper East Side. The building totals 5,400 square feet and is located at 1128 Third Ave. It contains a Starbucks on the ground floor, a yoga studio on the second floor and market-rate apartments on the top two floors. The property traded for $6.45 million at a 5.52 percent cap rate. In the second deal, Massey Knakal's Swain Weiner represented the seller in the disposition of a vacant warehouse located on 51st Avenue, between 71st and 72nd streets, in the Woodside neighborhood of Queens. The approximately 20,400-square-foot building contains five interior truck bays, a mezzanine office area and refrigerated warehouse space. It traded for $3.99 million.
UNION COUNTY, N.J. — Marcus & Millichap has completed four multifamily sales in Union County totaling more than $8 million. Hampshire Courts, a 54-unit property located at 1106 Park Ave. in Plainfield, traded for $3.65 million. A 29-unit property located at 18-20 and 204 E. Price St. in Linden traded for $2.22 million. A 44-unit property located at 416-424 and 424-435 E. Jersey St. traded for $1.45 million. Finally, an 11-unit property located at 103 Myrtle St. in Roselle traded for $715,000. Nat Gambuzza of Marcus & Millichap's National Multi-Housing Group arranged all four of the deals. Christopher Rizzolo, also of Marcus & Millichap, assisted in the Elizabeth deal.
BROCKTON, MASS. — Newton, Mass.-based New England Development has acquired Westgate Mall in Brockton for $31.75 million. The shopping center is situated on approximately 50 acres at 200 Westgate Drive. Its anchors include Macy's, Sear's, Best Buy and Marshalls. The CB Richard Ellis team of Bill Moylan, Chris Angelone and Josh Klimkiewicz represented the undisclosed seller and procured New England Development.
HAZLETON, PA. — Higgins Development Partners has sold a Class A warehouse/distribution facility in Hazleton to Exeter Property Group for $12.9 million. The property totals 400,260 square feet and is located within Humboldt Industrial Park at 68 Green Mountain Road. It contains 32-foot ceiling heights. Graham Packaging occupies 168,630 square feet, with the remaining space available for lease. Steve Bonge, Tim Brogan and Patrick McBride of Grubb & Ellis represented the seller.
ST. JAMES, N.Y. — NAI Long Island has brokered the sale of the former Mitsubishi and Mazda auto dealerships located at 920-926 Middle Country Road in St. James for $5.5 million. The buyer, North Shore Motors, plans to turn the buildings into a Chevrolet dealership. NAI's Al Centrella and Dennis McCoy represented the seller, Mitsubishi Motors of America. Joseph Bellavia & Sons represented the buyer.
BRIDGEVILLE, PA. — Construction is complete for Phase I of Bursca Frontgate, a retail center located at the entrance to Bursca Business Park in Bridgeville. Phase I consists of a 7,800-square-foot building, of which the New Dragon Express restaurant and Sudsy's Beer Distributor have already leased a combined 4,400 square feet. Future plans call for an additional building totaling 6,000 square feet. Burns & Scalo Real Estate Services is leasing the property.
SOUTHOLD, N.Y. — Stalco Construction has completed the $1.5 million expansion and renovation of the IGA Supermarket located at 54566 Route 25 in Southold. The project included the demolition and reconstruction of the building exterior, a new roof, the reconfiguration of the interior space and other improvements. John A. Grillo, Architect PC served as project architect. The building is owned by Thomas and Charles Reichert.
CHERRY HILL, N.J. — Colliers International has brokered the sale of a single-story, 4,000-square-foot retail building located at 1734 Route 70 in Cherry Hill. The buyer, Dr. Evan Sorokin, plans to relocate his practice to the building from its current location in Marlton, N.J. David Reibstein and David Dunkelman of Colliers' Philadelphia office represented the seller, 1734 Route 70 East LLC. Evan Zweben of Colliers' Mount Laurel, N.J., office represented the buyer.
NEW YORK CITY — Arbor Commercial Funding has secured $2.7 million in Fannie Mae DUS financing for Livonia Avenue Apartments, a 22-unit property in Brooklyn. The loan carries a 10-year term, a 30-year amortization schedule and a 5.87 percent interest rate. Alexander Kaushanksy of Arbor's New York City office originated the loan on behalf of the undisclosed borrower.
NORTHBOROUGH, MASS. — Hartford, Conn.-based Cornerstone Real Estate Advisors has acquired the Genzyme | Northborough facility for $17.5 million. Built in 1988, the property is situated on 18 acres at 11 Forbes Road in Northborough. It contains 211,600 square feet of office, R&D, and pharmaceutical production and distribution space. Genzyme is the sole tenant. The property is in the midst of an approximately $60 million renovation that will expand the facility by 40,300 square feet. It will also be seeking LEED-Gold certification. Robert Griffin, Jr.; Edward Maher, Jr.; David Pergola and Christopher Griffin represented the seller, a joint venture bwtween ING Clarion Partners and Leggat McCall Properties, and procured the buyer.