NEW YORK CITY — Construction is complete on 1926 Crotona Parkway, an affordable senior housing community located in the East Tremont section of the Bronx in New York City. The 96-unit rental development offers a range of unit sizes and common area features that include a community room/lounge and landscaped backyard space. The project was developed through a partnership between Atlantic Development Group and Highbridge Community Development Corp., non-profit housing development and management corporation. Highbridge will manage the property going forward. Applicants for the studio, one- and two-bedroom units, must include one household member who is 62 years of age or older at the time of application. Applicants also must meet certain household income requirements. Studios in the building can be rented for $638 per month. One-bedroom units will lease for $683 and the two-bedroom units will lease for $823 per month.
WASHINGTON TOWNSHIP, N.J. — Matrix Development Group has signed a lease with Scholastic Book Fairs at Northeast Business Park in Washington Township. Scholastic will occupy 89,625 square feet of warehouse space and 6,175 square feet of office space at 14 Applegate Drive, a 241,662-square-foot industrial building within Northeast Business Park. The facility offers 26-foot clear height, plentiful door positions and trailer parking and an Early Suppression Fast Response (ESFR) fire suppression system. It also features easy access to Exit 7A interchange of the New Jersey Turnpike and Interstate 195. Other tenants within the park include W.W. Grainger, Lifetime Brands Inc., Sleepy's and several regional operators. The park is contiguous to Matrix Business Park at Exit 7A, a 480-acre industrial park that includes such tenants as Mercedes Benz of America and McCaster Carr Co.
NEW YORK CITY — GFI Realty Services has arranged the sale of a five-story, walk-up apartment building, located at 462 137th St. in the Bronx, New York City, for $1.22 million. The building contains 20 units in a mix of three and four bedrooms. Three of the units are rent controlled and the remaining units are rent stabilized. Shlomo Antebi and Matthew Sparks of GFI represented both local parties in the transaction.
PORT CHESTER, N.Y. — The New York Metro regional office of NorthMarq Capital has secured $1.25 million in first-mortgage financing for a 20,865-square-foot multi-use property located at 225 Westchester Ave. in Port Chester. The property comprises 12,865 square feet of office space, as well as an 8,000-square-foot restaurant. Tenants include Poko Management, Saverio Terenzo, Weissman Management and JRJ Restaurant. The loan includes a 5-year term with a 25-year amortization schedule, as well as a 6.12 percent, non-recourse interest coupon. The loan was arranged by NorthMarq’s Thomas Graf and Bruce Whipple on behalf of the borrower, Weissman Management Corp. The lender was a private, New York-based bank.
FAIRFIELD, N.J. — Bergman Real Estate Group has completed a 37,100-square-foot lease at 155 Passaic Avenue, a Class A office property located in Fairfield. Science Applications International Corp. (SAIC) will occupy two of the building’s four floors. John Osborne of Bergman represented the undisclosed landlord in lease negotiations. Steven Fleming of Jones Lang LaSalle represented SAIC. The building contains 88,000 total square feet of office space.
FARMINGDALE, N.Y. — Massey Knakal Realty Services has brokered the sale of a 5,550-square-foot retail center, located at 968-976 Fulton St. in Farmingdale, for $800,000. The corner strip center contains five tenants with below-market rents. Massey Knakal’s Lev Kimyagarov represented the seller. Both parties were undisclosed.
WEST HARTFORD, CONN. — Winstanley Enterprises is set to begin construction on Elmwood Square in West Hartford. The retail/office development will feature 73,000 square feet of retail space. The project is located at 176 Newington Rd. Stop & Shop and Crazy Bruce’s Liquors have recently singed long-term leases for space at the retail center. Nicholas Morizio of Colliers Dow and Condon represented both parties in the lease transaction. The developer plans to begin construction in the fall and expects to spend $12 million on the demolition and clean-up of the former factory site. Completion is slated for 2010.
BOSTON — Jones Lang LaSalle has completed the interior build out of approximately 300,000 square feet of first class office space for Eaton Vance Corp. at Two International Place in Boston. Comprised of 10 floors, the build out features state-of-the-art trading desks, a full-service café with kitchen, a training facility, reception areas, informal interactive meeting areas, conference rooms, and energy efficient lighting and fixtures. The new office will serves as Eaton Vance’s new world headquarters, a move that consolidates 800 employees from multiple downtown locations. The project was overseen by Jones Lang LaSalle’s Project and Development Services (PDS) team, which is comprised of Alfred Woods and Stephen Senna. Bill Motley and Debra Gould, formerly of Jones Lang LaSalle, represented Eaton Vance during lease negotiations. The corporate interior was designed by CBT Architects. Shawmut Design and Construction served as the construction manager.
YONKERS, CARMEL AND NEW YORK CITY, N.Y. — NAI Friedland Realty’s Ross Schneiderman recently closed three transactions in New York. Schneiderman completed the $4 million sale of 16 Harrison Ave. in Yonkers. He represented both the seller, Mom & Pop Holding Corp., and the buyer, Kimber Manufacturing, in the deal. In the Bronx in New York City, he negotiated a 23,500-square-foot lease at 940 East 149th St. Schneiderman brokered the deal between the landlord, Ted Wolsky, and the tenant, Anfesil LLC. In Carmel, Schneiderman negotiated a 40,000-square-foot lease at 1 Hughson Rd. He brokered the deal between Palumbo Sand & Gravel, the landlord, and Collin Brothers Worldwide, the tenant.
NEW YORK CITY — Levien & Company has completed a 20,000-square-foot renovation project at 860 Courtlandt Ave. in the Bronx in New York City, for The Bronx Defenders, a Bronx-based not-for-profit organization that provides holistic criminal and family defense services to the borough’s indigent population. The site, which was a former steakhouse, was redesigned to allow for maximum use of the space. The new design includes walls painted in shades of green, purple and orange, and the installation of a spiral staircase. The restaurant cellar was transformed into offices. Glass blocks were integrated throughout to create better lighting. The lobby features murals painted by elementary school students from the nearby Public School 29, a participant in The Bronx Defenders’ Community Arts Exchange program. The project team included Alta Indleman as the architect, Jack Green & Associates as the engineer and Excel Contracting as the general contractor.