LONG ISLAND, N.Y. — CB Richard Ellis (CBRE) has completed the $27.6 million sale of two office buildings in Long Island. Newport Realty acquired 99 Powerhouse Rd. in Roslyn Heights and 1101 Stewart Ave. in Garden City. The buildings total a combined 150,000 square feet of office space. Kelly Koukou of CBRE represented the buyer, and David Sargoy of Brown Harris Stevens represented the sellers, David and Marty Webber, in the transaction. Koukou is also the exclusive leasing agent for the two buildings.
Northeast
NANTUCKET, MASS. — Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged $40.6 million in financing for the construction of the Residences at Point Breeze in Nantucket. The luxury condominium hotel will feature a mix of 32 one- and two-bedroom residences and six cottages with floor plans up to 2,176 square feet. The borrower was undisclosed.
NEW YORK CITY — SSJ Development has broken ground on a multifamily waterfront development in the Sheepshead Bay area of Brooklyn, New York City. The Riviera Suites at Sheepshead Bay, located at 2433 Knapp St., will feature 18 loft-style one- and two-bedroom units. The facility is set to feature a waterfront promenade, green building materials and 24-hour security. Designed by Gregory Ginert, construction is slated for completion in 12 months.
BEDFORD, N.H. — Tom Fini of the Sperry Van Ness/Fini Group has brokered the sale of two Class A office buildings in Bedford. Totaling 24,000 square feet, 166 S. River Rd. was sold by Bedford Crossing, LLC for $2.62 million. Totaling 20,000 square feet, 35 Constitution Dr. was sold for $1.6 million by 35 Constitution Drive, LLC. Both buildings were acquired by Seattle-based Cantrell Industries. Fini represented the sellers in the transaction, and Cheryl Favreau of Award Winning Realty represented the buyer.
GROTON, CONN. — Mill Management has acquired Groton Townhouse Apartments and Phoenix Apartments in Groton for $17.62 million from an undisclosed seller. Groton Townhouse Apartments consists of 141 one, two- and three-bedroom residences situated within a 29-building townhouse community, and Phoenix Apartments contains 96 one-bedroom units set within three buildings. Cushman & Wakefield Sonnenblick Goldman arranged the transaction on behalf of the seller.
DANBURY, CONN. — I.C.A Realty Corp. has brokered the sale of a triple net leased Borders Books & Music in Danbury. Located at 110 Federal Rd., the store encompasses 27,594 square feet of space. James Dwoskin of I.C.A Realty Corp. represented the undisclosed buyer and seller in the transaction. The sale price was also undisclosed.
NEW YORK CITY — Matthew Fotis of Marcus & Millichap has completed the $1.28 million sale of a development site located at 461 Winthrop St. in Brooklyn, New York City. The 22,695-square-foot site encompasses two 40-foot lots on either side of Brooklyn Avenue, which can be utilized for residential space, medical offices or a mix of the two products. Fotis represented the undisclosed seller and secured the undisclosed buyer for the transaction.
NEW YORK CITY — Arbor Commercial Funding has secured a $15 million loan for the acquisition of the 27-unit Water Street Apartments in New York City. The loan was originated by Stephen York of Arbor’s Uniondale, N.Y., office. The loan was financed through a combination of Fannie Mae’s DUS program and Arbor’s own mezzanine funds, the Arbor 85 product line.
ROCHESTER, N.Y. — Nancy VanIseghem of NorthMarq Capital has arranged first mortgage financing in the combined amount of $4.6 million for two self-storage properties in Rochester. The two properties encompass a total of 703 units. The loan was arranged through NorthMarq’s correspondent relationship with StanCorp Mortgage Investors. The financing is based on a 5-year term and a 20-year amortization schedule. The borrower was undisclosed.
PHILADELPHIA A private partnership led by Peter Soens and Jeffrey Seligsohn, principals of SSH Real Estate, and Michael Young of Young Capital have acquired Unit II of 123 S. Broad St. in Philadelphia for $57.7 million. Known as the Wachovia Building, the Class A office property acquisition encompasses 626,594 square feet and includes the unit comprising floors six through 30 of 123 S. Broad St. and floors six through 11 of the adjacent Witherspoon Building. Paul Feaster of SSH represented the buyer in-house, and Adam Spies of Eastdil Secured represented the seller, American Financial Realty Trust.