YONKERS, N.Y. — The grand opening has been held for the new Residence Inn by Marriott in Yonkers. The four-story hotel is located at 7 Executive Blvd. It contains 144 rooms, with a mix of 117 studios, 19 one-bedrooms and eight two-bedrooms. Amenities include meeting facilities, a business center, a fitness center and an indoor pool. The $31 million project was designed by Boston-based Group One and developed by an affiliate of Overland Park, Kan.-based True North Hotel Group.
NEW ROCHELLE, N.Y. — White Plains, N.Y.-based Houlihan-Parnes Realtors has brokered the sale of 54-60 Centre Avenue in New Rochelle for $2.7 million. The five-story building contains 20 apartments, 10 retail stores and one office. The property was purchased out of foreclosure by a Westchester, N.Y.-based holding company.
NEW YORK CITY — New York City's first Hotel Indigo has opened within Manhattan's Chelsea neighborhood. The Hotel Indigo New York City – Chelsea is a 20-story building located at 127 W. 28th St. It features 122 rooms, including two penthouse suites. Amenities include 24-hour business and fitness centers, and meeting spaces. The hotel also features Blu, an American bistro-style restaurant, and Glass Bar, a rooftop lounge. The hotel is owned and managed by Fortuna Realty under a license agreement with InterContinental Hotels Group.
NEW YORK CITY — Construction is under way for a new residential rehabilitation and long-term skilled nursing facility for Village Care of New York (VCNY). The six-story facility is being built at 214-218 W. Houston St. in New York City. The 65,000-square-foot structure will feature 105 beds. It will also contain a physical rehabilitation room, a mediation/yoga room that overlooks a central landscaped courtyard, dining and common areas on each floor, and a rooftop deck. The project is slated for completion in August 2010 and will be applying for LEED-Silver certification. Locally based Levien & Co. is serving as project manager. Perkins Eastman is serving as project architect, and Marco Martelli Associates is providing general contractor services.
WEYMOUTH, MASS. — Keybank Real Estate Capital has secured a total of $7.8 million in Freddie Mac financing for Queen Anne's Gate Apartments in Weymouth. The funds are being used to refinance existing conduit loans for two phases of the development. First, $4.8 million was provided to Queen Anne's Gate Company II for Phase II of the community, which contains 108 units and was built in 1974. Additionally, $3 million was provided to Q.A. V LP for Phase V of the community, which contains 46 units and was built in 1988. Terms of the loans were not disclosed.
NEW YORK CITY — New York City-based real estate firm Studley has signed a lease for its new corporate headquarters. Beginning in the first quarter of 2010, Studley will occupy the 61,000-square-foot 11th floor of 399 Park Avenue for a 10-year term. The company will relocate from an approximately 40,000-square-foot office at 300 Park Avenue, which it has leased since 1987. Mitchell Steir, Michael Colacino and Michael Goldman of Studley provided in-house representation for the firm in lease negotiations. The landlord, Boston Properties, was represented by John Powers of CB Richard Ellis.
NEW LONDON, N.H. — Concord, N.H.-based North Branch Construction has been selected to provide construction management services for a new project at Colby Sawyer College in New London. The new Windy Hill School will be a 10,000-square-foot structure that will house the college's daycare, kindergarten and after-school programs for families in the community. The Windy Hill program is run by students and faculty of the college's Social Sciences & Education Program and is currently operated out of the lower levels of the Abbey and Burpee residence halls. Building amenities will include classrooms with built-in kitchens and computer work areas, seminar rooms, two “smart” classrooms for child development classes, an early childhood curriculum laboratory, a resource library and faculty offices. Completion is scheduled for spring 2010. The project architect is Lebanon, N.H.-based Banwel Architects.
NEWARK, N.J. — Diversified Capital has reached an agreement with Lane Capital in which Lane will take a minority ownership stake in Diversified's 24 Commerce Building, an 18-story, 180,000-square-foot office building located in Newark. As part of the agreement, Lane will provide long-term financing to help finish a multi-million renovation that is currently under way at the building. Current tenants at 24 Commerce include Newark Funding and Pediatric Dental Group. Several restaurants will be added as part of the building's repositioning.
GREAT NECK, N.Y. — St. Louis-based The Korte Company has completed construction for a new $13 million facility for the United States Postal Service in Great Neck. The 26,388-square-foot post office contains a 14,000-square-foot annex, a workroom, office support and administrative areas, break rooms, employee lockers, equipment rooms, mechanical mezzanines and storage areas. The facility also includes a two-story, 85-space parking garage. This most recent project marks the 39th project Korte has completed for the Postal Service nationwide.
BRIDGEVILLE, PA. — Pittsburgh-based Burns & Scalo Real Estate Services has begun construction for Bursca Frontgate I, a $2 million, multi-phase retail project located in Bridgeville. The project will be situated along Route 50 at the entrance to Bursca Business Park.The first phase of construction will consist of the renovation of an existing 8,000-square-foot building that will house New Dragon Express and Sudsy's Beer Distributor. A 3,000-square-foot space remains for lease. Completion is slated for May 2010. Phase II of construction will include the demolition of an existing building on the property and the construction of a new 6,000-square-foot retail building. Phase II completion is scheduled for December 2010.