PEABODY, MASS. — North Shore Plastic Surgery has acquired a 13,400-square-foot office building located in Peabody for $1.6 million. The new building, which is located at 7 First Ave., is replacing its current facility located at 4 Centennial Drive. Klemmer Associates was the sole broker in the transaction.
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.