MERIDEN, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of Pomeroy Place Apartments, a 42-unit apartment complex in Meriden, located roughly midway between Hartford and New Haven. Built in 2025, Pomeroy Place features studio, one- and two-bedroom units as well as a fitness center. Wes Klockner, Ross Friedel and Victor Nolletti of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Pandora Jewelry has signed a 55,872-square-foot office lease expansion and extension in Midtown Manhattan. The deal doubles Pandora’s existing footprint at 1540 Broadway via a new lease for the entire 34th floor. Dan Posy of JLL represented the tenant in the lease negotiations. Clark Finney, Frank Doyle, Carlee Palmer and Michael Pallas, also with JLL, along with internal agent Allen Gurevich, represented the landlord, GFP Real Estate, which owns the building in partnership with BDT & MSD Partners.
PHILADELPHIA — A partnership between LMXD, which is an affiliate of New York City-based developer L+M Development Partners, MSquared and the Philadelphia Housing Authority has broken ground on the first phase of the redevelopment of Westpark Apartments. The 12-acre affordable housing complex is located on the city’s west side. Phase I will include the construction of a new midrise building with 145 units, 58 of which will be reserved for existing residents and 73 of which will be reserved for incoming households earning between 20 and 80 percent of the area median income (AMI). The new building will also have 1,300 square feet of retail space. Phase I will also involve the rehabilitation of an existing, 141-unit building, 39 of which will be earmarked for existing residences and 76 of which will be earmarked for new households earning between 20 and 80 percent of AMI. Lastly, the development team will construct 41 new units at the southern edge of the campus, all of which will be dedicated first to returning Westpark residents and affordable to households earning up to 50 percent of AMI. Phase I is slated for a 2028 completion.
NEW YORK CITY — Marcus & Millichap has brokered the $7.7 million sale of a 15-unit apartment building in Manhattan’s Lower East Side. The newly renovated building at 259 E. Broadway exclusively offers two-bedroom units, seven of which are subject to income restrictions, and includes a ground-floor commercial space. Joe Koicim, Logan Markley and Matt Berger of Marcus & Millichap represented the seller, R.A. Cohen & Associates, in the transaction and procured the buyer, a private out-of-state investor.
BRANFORD, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $6 million sale of a 55,274-square-foot industrial building located in the southern coastal Connecticut city of Branford. According to LoopNet Inc., the building at 45 NE Industrial Road was originally constructed in 1950 and renovated in 2010. Will Braun of O,R&L brokered the deal. The buyer and seller were both limited liability companies that requested anonymity.
NEW YORK CITY — Texas-based hedge fund operator SummitTX Capital has signed a 17,778-square-foot office lease in Manhattan’s Plaza District. The lease term is 11 years, and the space spans the entire 19th floor of the 22-story, 380,000-square-foot building at 560 Lexington Ave. Cushman & Wakefield represented the tenant in the lease negotiations. Peter Turchin, Brett Shannon, Eric Deutsch, Jacob Rosenthal and Lauren Le of CBRE, along with internal agent Kevin Daly, represented the landlord, Rudin.
WHITE PLAINS, N.Y. — TKF Burnside Real Estate Partners has purchased a 400,000-square-foot office building in White Plains, located north of New York City. The building at 360 Hamilton Ave. is located in the downtown area and is home to tenants such as Merrill Lynch, Heineken USA, Bank of America and Skadden, Arps, Slate, Meagher & Flom LLP. Kevin Welsh and Charles Han of Newmark represented the undisclosed seller in the transaction. The buyer, which plans to implement capital improvements, was self-represented.
NEW YORK CITY — Local brokerage firm Ariel Property Advisors has arranged the $25.5 million sale of commercial development site in the Mott Haven area of The Bronx. The site at 261 Walton Ave. spans 25,182 square feet and can support up to 181,000 square feet of buildable product. Jason Gold, Victor Sozio and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was Zeta Charter Schools.
LEOMINSTER, MASS. — Marcus & Millichap has brokered the $4 million sale of a 62,259-square-foot industrial building in Leominster, about 50 miles west of Boston. The building at 44 Mead St. features clear heights of 14 to 16 feet, eight loading docks and two grade-level doors. Harrison Klein of Marcus & Millichap represented the undisclosed seller in the deal. Nate Nickerson of Fieldstone Commercial represented the buyer, The Lexvest Group.
ELMWOOD PARK, N.J. — Keyence Corp., a provider of automated factory equipment, has signed a 20,000-square-foot office lease renewal in the Northern New Jersey community of Elmwood Park. The space is located within the building at 669 River Drive, which according to LoopNet Inc. was constructed in 1984 and totals 83,620 square feet. Mike Nicholson of Acclaim Realty represented Keyence in the lease negotiations. Accordia owns the building.