Thursday, July 23, 2026
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Northeast

MultifamilyNortheast

BROOKLYN CONDO TOWER TO OPEN IN JANUARY

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NEW YORK CITY — Construction is advancing for 163 Washington, a new residential condominium project located in Brooklyn's Clinton Hill neighborhood. The 16-story tower contains 49 units ranging in size from 440-square-foot studios to 1,156-square-foot two-bedroom units. The buildings contains 5,000 square feet of outdoor amenity space including two fire pits, two outdoor barbecues, a rooftop terrace and a yoga garden. Other amenities include an indoor-outdoor media room, a fitness center and on-site parking. Residences start at $250,000 and occupancy is scheduled for January. The GLC Group is the developer of 163 Washington. Karl Fischer is the project architect, and The Developers Group is handling sales and marketing.

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MultifamilyNortheast

NAI HUNNEMAN ARRANGES TWO MULTIFAMILY SALES TOTALING $2.22 MILLION

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FRAMINGHAM AND MILFORD, MASS. — NAI Hunneman has brokered two separate multifamily sales in Massachusetts for a total of $2.22 million. In the first deal, VTT Grant Street purchased a three-building, 22-unit apartment complex located at 115-135 Grant St. and 84-92 Lawrence St. in Framingham for $1.17 million. The seller was R&P Realty Trust. In the second transaction, Green Way Realty purchased a 24-unit apartment building located at 169 Medway Road in Milford from G&R Realty Trust for $1.05 million. Carl Christie and Dan McGee of NAI Hunneman represented the sellers and procured the buyers in both deals.

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NortheastRetail

MORGAN REAL ESTATE BROKERS WALGREENS SALE IN N.J.

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BAYVILLE, N.J. — Morgan Real Estate has brokered the sale of a freestanding Walgreens located in Bayville. The firm's George Morgan, Jr., and Greg Woulfe represented the buyer, Bayville Triess. Morgan Real Estate joined with Marabella Commercial Finance to obtain acquisition financing, which consisted of a $4.6 million, non-recourse, CMBS loan. The property traded at a 7.37 percent cap rate.

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IndustrialNortheast

CBRE NEGOTIATES 21,100-SQUARE-FOOT MANUFACTURING SALE IN CONN.

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WATERBURY, CONN. — The Olive Oil Factory has acquired a 21,100-square-foot manufacturing facility in Waterbury for the expansion of its operations. The building, which is located at 197 Huntingdon Ave., was previously occupied by Roberts Radiator Corp., also the seller. Robert Eber of CB Richard Ellis' Stamford, Conn., office represented both parties in the deal.

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NortheastOffice

PPG PLACE REFINANCED FOR $143 MILLION

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PITTSBURGH — CB Richard Ellis (CBRE) Capital Markets has arranged $143 million in long-term, fixed-rate financing for PPG Place, a 1.5 million-square-foot, Class A office complex located in downtown Pittsburgh. The six-building complex is situated adjacent to the historic Market Square. The buildings surround a 1-acre plaza and feature street-level retail and restaurant space. John Clifford and William Howe of CBRE's Chicago office joined with Jeffrey Ackerman and Jack Norris of the firm's Pittsburgh office to represent the borrower, Market Associates LP. The lender's name was not released.

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MultifamilyNortheast

MARCUS & MILLICHAP BROKERS $6.07 MILLION APARTMENT SALE IN CONN.

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MIDDLETOWN AND TORRINGTON, CONN. — Marcus & Millichap has brokered the sale of two Connecticut apartment communities for $6.07 million. The properties include Fernwood Apartments, a 96-unit community located at 44-46 Camp St. in Middletown, and Westridge Apartments, a 33-unit community located at 270 High St. in Torrington. Steve Witten and Victor Nolletti of Marcus & Millichap's New Haven, Conn., office arranged the deal between the seller, Hunter Realty, and the buyer, CT Metro Holdings I & II Corp.

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MultifamilyNortheast

MARCONE CAPITAL ARRANGES $25 MILLION IN FANNIE MAE LOANS IN CONN.

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HARTFORD, CONN. — Marcone Capital has arranged a total of $25 million in Fannie Mae DUS financing for a portfolio of apartment properties located in the greater Hartford area. A separate loan was arranged for each of the seven properties, which total more than 400 units. The loans carry 10-year terms and interest-only payments. Mike Marcone of Marcone Capital secured the financing on behalf of the borrower.

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IndustrialNortheast

BROOKLYN RECYCLING FACILITY BREAKS GROUND

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NEW YORK CITY — Groundbreaking has occurred for the new $44 million Sims Municipal Recycling Facility in New York City. The 100,000-square-foot facility will be located at the South Brooklyn Marine Terminal in Brooklyn's Sunset Park neighborhood. Upon completion, which is expected in December 2011, the project will consist of processing and storage buildings as well as a visitor education center. It will also contain green roofs, renewable energy production and on-site stormwater treatment. Selldorf Architects is designing the project, and Skanska USA is the general contractor. Sims already operates recycling facilities in the Bronx and Queens.

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NortheastRetail

P.C. RICHARD & SON ACQUIRES CONN. RETAIL BUILDING FOR $5.5 MILLION

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MILFORD, CONN. — P.C. Richard & Son has acquired a 35,000-square-foot retail building located at 1575 Boston Post Road in Milford for $5.5 million. The electronics retailer has been occupying the building since May under a lease-to-purchase contract agreement. Steven Spector of Interstate Realty Advisors and Bruce Wettenstein of Vidal/Wettenstein arranged the deal. The brokers also helped arranged P.C. Richard's recent purchase of a Danbury, Conn., retail center.

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