NEW YORK CITY — Beech Street Capital has arranged a $4.29 million Fannie Mae DUS loan for the refinancing of two New York City apartment properties. Ten Eyck and Maujer Street Apartments are located in Brooklyn's East Williamsburg neighborhood. They consist of eight four-story buildings with 38 units. The loan carries a 5-year term with a 30-year amortization schedule, 4.5 years of yield maintenance and a fixed interest rate. Meridian Capital Group originated the loan, which was financed by Beech Street as part of its correspondent relationship with Meridian.
DANBURY, CONN. — Goodfellow Ashmore | CORFAC Internattional has brokered the sale of a commercial property located at 66 Wooster Heights in Danbury for $1.8 million. The 5.02-acre property contains a former house and barn that were converted into office and warehouse space, respectively. The two buildings total 6,752 square feet. The seller was Bartlett Realty, which had previously leased the property to Bartlett Tree Service, one of its affiliates. Ernie Badillo of Goodfellow Ashmore represented Bartlett Realty as well as the buyer, locally based JAR Associates.
WILLIAMSTOWN, VT. — Redstone has completed the sale of he former Lacillade Lumber site in Williamstown for $690,000. Located on 35.3 acres at 258 Meadow St., the property consists of three buildings totaling 53,666 square feet. Peter Yee and Ross Montgomery of Redstone represented the seller, Lacillade Lumber Co., and procured the buyer, Osprey Holdings LLC/Poulin Lumber Inc.
BRIDGEWATER, N.J. — Coldwell Banker Commercial | Feist & Feist has brokered the sale of a flex warehouse property in Bridgewater for $2.7 million. The property totals 24,000 square feet and is situated on approximately 4 acres at 125 Foothills Road. Peter Wisniewski of Feist & Feist was the sole broker in the deal between seller Peterson Industries and the undisclosed buyer.
NEW YORK CITY — NorthMarq Capital has arranged $9.8 million in Freddie Mac financing for a residential building located in the Long Island City neighborhood of Queens. The property, located at 12-01 Jackson Ave., consists of 37 residential units and one ground-floor retail space. The loan carries a 10-year term with a 30-year amortization schedule. Robert Ranieri of NorthMarq secured the loan on behalf of 1201 Jackson Avenue LLC.
NEW JERSEY AND PENNSYLVANIA — Metro Commercial Real Estate has assisted Dollar Tree in signing leases for 11 new locations within the greater Philadelphia and southern New Jersey markets. The leases total approximately 120,000 square feet of space. The new retail stores will be in the New Jersey cities of Absecon, Cape May, Egg Harbor and Upper Deerfield; as well as the Pennsylvania cities of Audubon, Bensalem, Easton, Exton, Malvern, Philadelphia and Upper Darby. Metro Commercial's Donna Drew represented Dollar Tree in each of the deals.
TARRYTOWN, N.Y. — DLC Management Corp. is sponsoring free wireless Internet access that this year's ICSC RECon convention, which is being held at the Las Vegas Convention Center. Two WiFi hotspots will be set up at the Networking Lounge/Food Courts in the back of Central Hall and at the back of Lower South Hall. Internet access will be available all three days of the show, which runs from May 23-25. This marks the first time WiFi has been provided at the show.
PITTSBURGH — Healthcare Trust of America (HTA) has signed an agreement to acquire a Pittsburgh medical office building for $40.65 million. The Federal North Medical Office Building is located two blocks from Allegheny General Hospital. It contains approximately 191,612 square feet of Class A space over four stories. Occupancy was 99.2 percent at the time of closing, with Allegheny General Hospital occupying or guaranteeing 85 percent of the tenancy. The weighted average term remaining on tenant leases for the building is more than 10 years. The seller's name was undisclosed.
PHILADELPHIA — Metro Development Co. (MDC) has unveiled plans for the redevelopment of the former Tasty Baking Co. site in Philadelphia's Hunting Park West neighborhood. Plans for the 20-acre site, which housed Tasty Baking's corporate headquarters and production facility, call for a 145,000- to 170,000-square-foot shopping center. The $30 million first phase would include a grocery-anchored strip center with pad sites. The second phase would include a bog-box retail anchor and small-space shops. MDC is currently developing a site plan and drafting preliminary land development documents, but construction could begin as early as this fall, with Phase I completion coming as early as the fourth quarter of 2011. US Realty Associates is handling leasing for the project.
SOMERSET, N.J. — Marcus & Millichap has brokered the sale of Nora Shopping Center in Somerset for $3.7 million. The strip center was fully occupied at the time of closing. Michael Lombardi of Marcus & Millichap's New Jersey office represented the undisclosed seller. Seth Pollack, also of the broker's New Jersey office, represented the buyer, a local investor.