DANVERS AND PLYMOUTH, MASS. — White Plains, N.Y.-based Northeast Community Bancorp has expanded its retail banking operations into Massachusetts. The company recently opened full-service branch offices at 87 Elm St. in Danvers, and 8 N. Park Ave. in Plymouth. Northeast Community Bancorp is the holding company for Northeast Community Bank, which operates seven full-service offices.
EATONTOWN, N.J. — Weichert Commercial Brokerage has completed a lease for approximately 29,000 square feet of office/flex space, located at 246 W. Industrial Way in Eatontown. Peter Ricker of Weichert represented the tenant, New Jersey-based Empire Technologies. The tenant will be relocating and expanding its operations into the new facility. It will occupy the space for a 5-year term with a 5-year renewal option. The landlord, Industrial Way Complex, represented itself in-house.
NEW YORK CITY — Construction has topped out for The Brooklyner, a 51-story residential rental tower located in Brooklyn, New York City. Developed by locally based The Clarett Group, The Brooklyner is located at 111 Lawrence St. Upon completion, it will feature 491 rental apartments in a mix of lofts, studios, and one- and two-bedroom units. First occupancies are slated for late 2009 or early 2010. Upon completion, The Brooklyner will be the tallest building in downtown Brooklyn. It was designed by locally based Gerner Kronick + Valcarcel Architects.
NEW YORK CITY —Itzhaki Properties has brokered the sale of three multifamily buildings located in New York City. The first property is an eight-story loft building located at 64-68 Wooster St. in Manhattan. The $13 million sale was arranged by Ivan Hakimian of Itzhaki. The second property is a four-story, 35-unit apartment building located at 84 Lawrence Ave. in Brooklyn. The $3.15 million sale was arranged by Hakimian, Shay Zach and Itai Akabi, all from Itzhaki. The final transaction comprised the $2.1 million sale of a four-story, 16-unit apartment building located at 37-67 64th St. in Woodside, Queens. Zach, as well as Itzhaki’s Tal Kashi and Aaron Kozhinoff, negotiated the sale. All parties were undisclosed.
NEW YORK CITY — Massey Knakal Realty Services has completed the sale of 121 Ludlow Street, a three-story commercial building located in Manhattan’s Lower East Side, for $3.45 million. The building consists of a vacant ground-floor unit equipped for a restaurant, a second-floor art studio with 12-foot ceilings and a third-floor hair salon with 10-foot ceilings. Massey Knakal’s Michael DeCheser negotiated the transaction. The property was acquired by a local investor at a 4.35 percent capitalization rate.
NEW YORK CITY — Sandpoint, Idaho-based women’s retailer Coldwater Creek has signed a lease for 23,000 square feet of office space at 575 Broadway, located in the Soho neighborhood of Manhattan, New York City. The retailer will use the space for creative and design purposes. The tenant was represented by Grant Greenspan of The Kaufman Organization. The landlord was represented by Fred Grand of 575 Broadway Associates LP. The lease carries a 10-year term; the rental rate was not disclosed, but the asking price was $50 per square foot. The 575 Broadway building is a six-story brick building located in Soho’s Cast Iron District. It contains more than 160,000 square feet of loft office space.
SECAUCUS, N.J. — Secaucus-based Hartz Mountain Industries has brokered the lease for the New Jersey expansion of Capital Supply Co. The Manhattan, New York City-based janitorial supply company has signed a lease for 45,770 square feet of warehouse space at 111-115 Castle Rd., located in Secaucus. The company will continue to operate its Manhattan facilities. Terms of the lease were not disclosed.
MALTA AND STILLWATER, N.Y. — GLOBALFOUNDRIES has purchased 223 acres of land at the Luther Forest Technology Campus. The land was purchased to construct Fab 2, with space remaining to develop two additional fabs. Luther Forest Technology Campus, located in New York’s Tech Valley and spans Stillwater and Malta, comprises 1,414 acres of shovel ready sites designed for semiconductor and nanotechnology manufacturing and other innovative industries. The campus will be home to GLOBALFOUNDRIES’ state-of-the-art 300 mm fabrication facility, which is slated to begin construction in summer 2009 with a completion in 2012. The remaining land at the campus will be divided into nine development areas with lot sizes ranging from 65,000 to one million square feet.
TINTON FALLS, N.J. – The Sudler Companies has renovated a 20,000-square-foot office, light industrial and flex property located at 45 Park Rd. within Sudler’s Corporate Park in Tinton Falls. Renovations included an open floor plan, landscaped grounds, a new roof, new mechanical systems and bathrooms, new electric service of 800 AMP, a new exterior façade with tinted windows and a new parking lot. Immediate occupancy will be available in July.
NEW YORK CITY – Clipper Equity has completed more than $20 million in renovations to Flatbush Gardens in Brooklyn, New York City. The community features 59 six-story buildings with a total of 2,469 units. The property comprises 30 acres of East Flatbush and is bordered by Newkirk, Nostrand, Farragut and Brooklyn Avenue. Of the $20 million loan, $10 million went towards renovating the property and $10 million to renovating 1,200 units. The renovations included installing 59 elevators, updating the boiler system, re-roofing 40 percent of the buildings, repairing the exterior brick, installing a laundry facility and replacing the mailroom with a 24/7 center and parcel post office. Also, GreenbergFarrow designed the new courtyard.