Saturday, August 8, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

MultifamilyNortheast

FISHER SET TO OPEN CRYSTAL POINT

by admin

JERSEY CITY, N.J. — Fisher Development Associates will hold the grand opening next month for Crystal Point, a 42-story residential tower located in Jersey City. Designed by Gruzen Samton LLP, the project will comprise 269 residences in a mix of one- two- and three-bedroom units. Residences will range from 800 to 1,817 square feet, and will feature floor-to-ceiling windows, balconies in most units and views of the Hudson River waterfront from all units. Community amenities will include a spa, a fitness center, a game room, a lounge, a screening room, a concierge, valet parking and a lobby-level restaurant. The building will also include an outdoor deck that contains a lap pool, a hot tub, a barbecue and dining area, fire pits and a children’s play area. Crystal Point will also feature access to the new marina that the city of Jersey City is currently planning. The Marketing Directors is serving as marketing and sales agent for the property.

Continue Reading
FacebookTwitterLinkedinEmail
NortheastOffice

JONES LANG LASALLE NEGOTIATES 310,000-SQUARE-FOOT OFFICE LEASE

by admin

STAMFORD, CONN. — The New York office of Jones Lang LaSalle has negotiated a 310,000-square-foot direct lease at the Long Ridge Corporate Center campus in Stamford. Located at 120 Long Ridge Rd., the office building will be fully occupied by General Reinsurance Corp. (GRC), which signed a 20-year agreement. GRC is set to occupy the building in late 2009, when it will relocate from its current headquarters in the Financial Centre building at 695 E. Main St. in Stamford. The Long Ridge Road property will be renovated and modernized once the lease expires in December for the building’s current tenant, General Electric Corp. The tenant was represented by Brian Higgins, Jay Koster and Chris Kraus of Jones Lang LaSalle. The landlord, Building & Land Technology, was represented in-house by Carl Kuehner and Paul Kuehner.

Continue Reading
FacebookTwitterLinkedinEmail
NortheastOffice

TIME EQUITIES SELLS $2.4 MILLION OFFICE CONDO

by admin

NEW YORK CITY — New York City-based Time Equities has sold a 4,865-square-foot office condominium, located at 125 Maiden Lane in New York City, for $2.4 million. NY Commercial Press acquired the property, and plans to relocate there from its current Midtown, Manhattan, location this month. Michael Rudder provided in-house representation for Time Equities. The buyer was represented by Patrick Dugan and Vincent LaManna of CB Richard Ellis.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNortheast

WRIGHTWOOD PROVIDES $6.75 MILLION MULTIFAMILY ACQUISITION LOAN

by admin

SOMERSET, N.J. — Chicago-based Wrightwood Capital has provided $6.75 million in acquisition financing for the Somerset Estates apartment community in Somerset. Located at 271 Franklin Blvd., the property contains 395 one-, two- and three-bedroom units in 57 two-story buildings. The borrower, Fieldstone Properties, plans to implement a capital improvements plan, including upgrades to the kitchens and bathrooms, and the conversion of some two-bedroom units into three-bedroom units, in an effort to raise rents to market levels. The loan carries a 5-year term, and was sourced through Emmet Delany of Capital & Venture Resources.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNortheast

EASTERN CONSOLIDATED BROKERS $8 MILLION MULTIFAMILY SALE

by admin

NEW YORK CITY — Eastern Consolidated has arranged the sale of two adjacent multifamily buildings, located at 303-305 E. 53rd St. in New York City, for $8 million. The two four-story structures were jointly built on the same lot and total 33,440 square feet. The ground floor is occupied by Top Tune Entertainment, a restaurant and lounge, while the second floor is occupied by Japanese Karaoke, a bar and lounge. Residential tenants occupy the third and fourth floors of the buildings. Charlotte Fu of Eastern Consolidated, represented the buyer, locally based Edro Realty, and procured the seller, 303-305 Building LLC. The property traded at a 6 percent cap rate. The air rights to the properties are currently leased to the neighboring Connaught Tower cooperative.

Continue Reading
FacebookTwitterLinkedinEmail
NortheastRetail

MARCUS & MILLICHAP ARRANGES $6.3 MILLION DRUG STORE SALE

by admin

NORTH CONWAY, N.H. — Marcus & Millichap has arranged the sale of The North Conway Property, a 14,000-square-foot, net-leased drug store located in North Conway, for $6.3 million. Ben Sgambati, Michael Lombardi and Todd Tremblay, represented the seller; the buyer was secured and represented by Sgambati and Lombardi. Both parties were undisclosed. The property sold at a cap rate of 6.45 percent.

Continue Reading
FacebookTwitterLinkedinEmail
NortheastRetail

KDA COMPLETES 14,000-SQUARE-FOOT SHOPPING CENTER SALE

by admin

NEW YORK CITY — Brooklyn, New York City-based Kalmon Dolgin Affiliates (KDA) has completed the sale of a 14,000-square-foot shopping center located at 953 Cypress Ave. in the Ridgewood neighborhood of Queens, for $1.85 million. The two-story property contains 12,500 square feet of retail space on the first floor, and 1,500 square feet of office space on the second floor. The property currently contains a furniture store, a discount merchandise outlet and a money transfer business. Dmitri Gourianov of KDA represented the buyer, My Ridgewood Realty, and the seller, the Costarelli family. The purchase included 11,000 square feet of air rights for future development.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilyNortheast

MERIDIAN SECURES ACQUISITION FINANCING FOR THE CARLYLE

by admin

HACKENSACK, N.J. — New York City-based Meridian Capital Group has secured $16 million in acquisition financing for The Carlyle, a 13-story residential building located at 380 Prospect Avenue in Hackensack. The Class A multifamily property contains 128 units; property amenities include a 24-hour doorman, an outdoor swimming pool and underground parking. Terms of the loan include a 5.5 percent fixed rate for a 7-year term, with 3 years interest-only payments. Avi Weinstock and Chaim Tessler of Meridian’s New York office arranged the financing on behalf of the borrower, AKS Management. The lender was undisclosed.

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialNortheast

KLEMMER, COLLIERS BROKER 87,700-SQUARE-FOOT INDUSTRIAL SALE

by admin

MERRIMAC, MASS. — Winchester, Mass.-based Klemmer Associates, along with Colliers Houston, has brokered the sale of an 87,700-square-foot industrial building located at 51 E. Main St. in Merrimac, for $2.3 million. Klemmer Associates and Colliers Houston represented the undisclosed seller. The buyer, James F. Mullen Co., was represented by Peter Richardson of Jones Lang LaSalle.

Continue Reading
FacebookTwitterLinkedinEmail
HospitalityNortheast

HOTEL INDIGO BASKING RIDGE REOPENS

by admin

BASKING RIDGE, N.J. — The grand opening has been held for Hotel Indigo Basking Ridge, a four-story, 112-room boutique hotel located at 80 Allen Road in Basking Ridge. The hotel was acquired last year, and a subsequent multi-million dollar renovation was launched. Amenities in the hotel include a state-of-the-art fitness and relaxation center, a gourmet café and a business center. Michael Sonnabend and Paul Fried of New York City-based AFC Realty Capital helped secure $20 million in acquisition and construction financing for the project, and invested in the ownership of the property. The hotel’s reopening marks the brand’s first owner-operated hotel to open in the state.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts