NEW YORK CITY — Stonehill Development is currently constructing Meserole, a luxury condominium development located at 127-129 Meserole St., in the Williamsburg neighborhood of Brooklyn, New York City. The four-story condominium will feature 16 units ranging from 654-square-foot studios to 1,573-square-foot one-bedroom residences. Designed by Karl Fischer, the units will feature 9-foot ceilings, hardwood floors, gourmet kitchens and private balconies. The homes start at $420,000. The Developers Group is the exclusive sales and marketing firm for the project.
NEW YORK CITY — The iconic 20 Exchange Place building in the Financial District in Manhattan, New York City, is set to be converted into a rental residential building. Standing at 57 stories, the converted facility will feature 350 units with rents starting at $2,500. The 800,000-square-foot facility will also feature amenities such as a 24-hour doorman, a residents’ lounge, a landscaped deck on the 19th floor and a fitness center. The building is being converted by owner and developer, Metro Loft Management.
MIDDLETOWN, R.I. — Steve Witten and Victor Noletti of the Witten & Noletti Group of Marcus & Millichap have completed the $19.65 million sale of Northgate Apartment Homes in Middletown. Situated on approximately 16 acres at 3 Admiralty Dr., the facility contains 19 buildings with a total of 179 units. The complex features 85 one-bedroom units, 88 two-bedroom units, and six three-bedroom units. Witten and Noletti represented the seller, Middletown Tarragon, and the buyer, Northland Middletown, in the disposition.
MILFORD, CONN. — Vidal Wettenstein and Arnold Peck Commercial have co-brokered the $1.4 million sale of a three-story office building in Milford. Located at 57 Plains Rd., the facility features 24,000 square feet set on approximately .78 acres. Scott Zakos of Vidal Wettenstein represented the buyer, 57 Plains Road, LLC., and Kevin Weirsman of Arnold Peck represented the seller, Tarkhan Associates, in the transaction.
BUFFALO, N.Y. — Daniel Monte of The Rose Hill Group of WNY LTD has arranged a $5.6 million loan for Delaware Sheridan Plaza, a multi-tenant retail center in Buffalo. The new center includes 34,920 square feet and tenants such as CVS/pharmacy, Fed Ex/Kinkos, AT&T and Panera Bread. Located at Delaware Road and Sheridan Drive, the development is owned by Sheridan Development Associates, which is part of The Benchmark Group.
MEDFORD, MALDEN AND EVERETT, MASS. — Preotle, Lane & Associates has broken ground on the first of three office buildings in the River’s Edge master planned development in Medford, Malden and Everett. Located at 200 River’s Edge Dr., the building will comprise 115,000 square feet on four levels. The facility, which is precertified Gold LEED core and shell is slated for completion January 2009. Phase I of River’s Edge will feature three office buildings totaling 410,000 square feet, a 220-unit luxury rental building and a 10-acre riverfront park.
ROYERSFORD, PA. — A new Staybridge Suites in Royersford is set to break ground this summer. The 104-room hotel features 65 studios, 31 one-bedrooms and eight two-bedrooms. All suites feature fully equipped kitchens and separate work areas. Amenities include an outdoor pool, a 1,000-square-foot meeting room and in-room video check-out. The hotel is slated for completion spring 2009. The hotel is owned by Latitude Hotels Group Royersford and will be managed by Ocean Hospitalities under a license agreement with InterContinental Hotels Group.
NEW YORK CITY — CB Richard Ellis has arranged a 160,335-square-foot lease for Mediaedge at 825 7th Ave. in Manhattan, New York City. The media firm extended its 129,620-square-foot lease on floors two through seven and acquired an additional 30,715 square feet on floors eight and nine through a sublease from International Marketing Group. Gregory Tosko, Bruce MacAffer and Mary Ann Tighe of CB Richard Ellis negotiated the lease for Mediaedge. Jeffrey Sussman of Edward Minskoff Properties represented the building owners, Edward J. Minskoff Equities and Vornado Realty Trust.
NEW YORK CITY — BMC Capital has originated a $2.9 million loan for the refinancing of the President Apartments in Brooklyn, New York City. Located in the Crown Heights South neighborhood, the complex contains three multifamily buildings. The loan has a 65 percent loan-to-value with a 5-year fixed rate interest. The borrower was undisclosed.
SECAUCUS, N.J. — AXA Equitable has leased 100,000 square feet of office space at Hartz Mountain Industries’ Harmon Meadow Complex in Secaucus. Located at 500 Plaza Dr., Harmon Meadow contains 3.5 million square feet of commercial space, more than 10 restaurants, seven hotels, the Meadowlands Exposition Center, an office park and retail.