NEW YORK CITY — The Sapir Organization has arranged a lease for 98,175 square feet at 11 Madison Avenue, a 28-story office building located in Manhattan, New York City. The tenant, Enfatico, signed a lease for 10 years and 6 months, and will use the space as its world headquarters. Howard Fiddle, Brad Gerla and Stephen Siegel of CB Richard Ellis represented the landlord, The Sapir Organization. The tenant was represented by Gregory Tosko, also of CB Richard Ellis. Occupancy at 11 Madison Avenue is currently at 100 percent and rents are averaging $75 per square foot.
MANCHESTER, CONN. — The New Haven, Conn., office of Marcus & Millichap has completed the sale of Waterford Commons, a 303-unit multifamily community located in Manchester, for $42.77 million. Situated on 34.3 acres at 669 Tolland Turnpike, the property comprises 13 two- and three-story buildings with a mix of one-, two- and three-bedroom apartment and townhome units. Individual units include vaulted ceilings with skylights, fireplaces, and in-unit washers and dryers. Community amenities include, a Jacuzzi, a sauna and steam room, a business center, a fitness center, lighted tennis and volleyball courts, walking trails, valet dry cleaning service, a playground, and an indoor, heated swimming pool with a deck. Steve Witten and Victor Nolletti of Marcus & Millichap represented both undisclosed parties in the transaction. The property traded at a price of $141,172 per unit.
BILLERICA, MASS. — Quincy, Mass.-based Dickinson Development Corp. has sold an 87,200-square-foot office building located at 159 Rangeway Rd. in Billerica for $6 million. The building serves as the headquarters of Hyster New England, which sold the building to Dickinson in 2000 in a sale/leaseback transaction. In this transaction, the building was acquired by 159 Rangeway Road – Billerica LLC. Gary Lemire of CB Richard Ellis brokered the transaction.
NEW YORK CITY — New York City-based Meridian Capital Group has arranged $35 million for two Manhattan office buildings. First, Meridian secured $25 million for the refinancing of the St. James Building, a historic 16-story office building located at 1133 Broadway. The building totals 154,660 square feet of rentable space and includes ground-floor retail space. Allan Lieberman of Meridian originated the financing on behalf of the undisclosed borrower. The loan carries a 5.75 percent fixed interest rate. Additionally, Meridian secured $10 million in financing for 58 and 60-62 E. 11th St. The property totals 48,000 square feet and consists of two adjacent office/loft buildings with ground-floor retail space. Lieberman and Seth Grossman arranged the financing on behalf of the borrower. The loan also carries a 5.75 percent fixed interest rate.
JERSEY CITY, N.J. — Mack-Cali Realty Corp. has completed a lease for 100,759 square feet at 101 Hudson St., a 1.25 million-square-foot office tower located in Jersey City. Tullett Prebon Holdings Corp. (TPHC) will lease the space, consisting of a 12-year extension of the 63,372 square feet it currently occupies in the building and a 37,387-square-foot expansion for 15 years, as its North American headquarters. The Class A office tower is currently 100 percent leased. John Cefaly, Robert Lowe and Ed Duenas of Cushman & Wakefield represented the tenant in the transaction. Mack-Cali was represented in-house by Thomas Savoca.
NEW YORK CITY — Construction has resumed for Beekman Tower, a 76-story residential building located in Manhattan, New York City, following the closing of a $680 million construction loan to the developer, Forest City Ratner Cos. Upon completion in 2010, Beekman Tower will be the tallest residential building in Manhattan. It will include 903 market-rate apartments, a 100,000-square-foot public school, a 21,000-square-foot ambulatory center for New York Downtown Hospital, and retail and parking facilities. The project was designed by Frank Gehry. Excavation and foundation work at the site has already been completed.
NEW YORK CITY — Construction is advancing for Dafina, a 46-unit residential co-op building located at the corner of Adam Clayton Powell Jr. Boulevard and 127th Street in New York City’s Harlem neighborhood. The building comprises studio, one-, two- and three-bedroom units ranging in size from 533 to 1,508 square feet. Individual units feature white and cherry wood cabinetry, granite countertops, stainless steel appliances, marble baths and Brazilian cherry hardwood flooring throughout the residence. Many units also feature balconies and terraces up to 813 square feet. Building amenities include a lobby with concierge service, a fitness center, storage areas, a landscaped roof deck, a clubroom and an enclosed parking garage. Residences are priced from $314,000; initial occupancies are scheduled for December.
SOUTHAMPTON, PA. — The Greater Philadelphia office of CB Richard Ellis (CBRE) has brokered the sale of a 33,421-square-foot warehouse/distribution facility located at 99 Buck Rd. in Southampton. Situated on more than 3 acres at the entrance to Veit Industrial Park, the facility features 3,000 square feet of office and showroom space, 16- to 18-foot clear ceiling heights, three tailgates, two drive-in doors, and a fenced yard for additional storage. Christopher Kutzler of CBRE represented the former owner/occupier, ABC Supply Co., which plans to relocate to a new facility in Souderton. Len Redeyoff and Paul Touhey, also of CBRE, represented the buyer, Hubbard Street Realty Trust (HSRT). A subsidiary of HSRT named Harvey Industries will be the new tenant at the facility. The acquisition price was not disclosed.
NEW YORK CITY — New York City-based Savanna, along with a locally based hedge fund, has originated a $45.75 million full-recourse senior loan for a 150,622-square-foot office building located at 63 W. 38th St. in Midtown Manhattan, New York City. The loan for the 12-story, Class B property carries a 65 percent loan-to-value ratio. Meridian Capital Group advised the borrower, a private New Jersey-based investment firm.
NEW YORK CITY — The Carlyle Group and Crown Acquisitions have acquired a controlling interest in the retail portion of 666 Fifth Avenue in New York City from Kushner Cos. for $525 million. The 90,000-square-foot property is positioned on Fifth between 52nd and 53rd streets, and contains 200 feet of uninterrupted retail frontage. Carlton Advisory Services negotiated the transaction, as well as the financing, which was provided by a lending syndicate that includes Barclays and SL Green. Prior to completion of the transaction, Abercrombie & Fitch leased 20,000 square feet of space at the property, where it will join the NBA Store and Hickey Freeman.