BETHLEHEM, PA. — Adam Simon of Marcus & Millichap has brokered the sale of Sherwin Williams in Bethlehem. The current Sherwin Williams tenant has 2 more years left on the lease and has expressed interest in exercising the final 5-year option. Simon represented the undisclosed seller, and the undisclosed buyer, a Trenton, N.J.-based company that owns retail property. The sale price was undisclosed.
Northeast
BAYSIDE, N.Y. — MJH Birchwood is redesigning 228 sponsor residences within the 832-unit The Towers at Water’s Edge, a residential facility in Bayside. Spanning three adjacent buildings, the redesigned units feature studios through three-bedroom residences that range in size from 600 square feet to more than 1,400 square feet. The project was redesigned by Lawrence Shapiro of Lawrence M. Shapiro, Inc. in collaboration with Freyer Collaborative Architects. The building’s interiors were designed by Gail Horn Designs and Patrick Sheeran of Design Promotions. Price for the units range from $300,000 to more than $795,000.
GETTYSBURG AND LEMOYNE, PA. — Bennett Williams, an affiliate of Coldwell Banker Commercial, has brokered the $2 million sale of Gettysburg Shopping Center in Gettysburg. The 37,000-square-foot retail center is located at 26 Springs Ave. Chad Stine and Brad Rohrbaugh of Bennett Williams represented the seller, Wayne D. Hill, and the buyer, Gettysburg PA Realty Group, in the transaction. In addition, Stine and Rohrbaugh completed the $3.2 million sale of State Street Plaza, a 51,763-square-foot shopping center located at 829 State St. in Lemoyne. Stine and Rohrbaugh represented the seller, State College Premier Rentals, and Denny Neiman of Bennett Williams represented the buyer, State Street Plaza Associates, in the sale.
NEW YORK CITY — Q-Real Estate Partners has received $20.85 million in construction financing for Latitude, a 53-unit residential condominium facility in the Riverdale district of New York City. The financing will be used for the construction of two seven-story buildings located on the corner of Riverdale Avenue and 236th St. Funding was provided by Bank Leumi USA.
NEW YORK CITY — Wrightwood Capital has provided $14.5 million in construction financing for a seven-story multifamily development located at 70 Berry St. in the Williamsburg section of Brooklyn, New York City. The 38-unit project will feature one-, two- and three-bedroom condominium units totaling more than 33,000 square feet. Wrightwood secured a 30-month loan for the borrower, Essex Capital Partners. The loan was sourced through Henry Berliss of Winter and Company.
NEW YORK CITY — Matt Fotis of Marcus & Millichap has completed the $1.66 million sale of a mixed-use property in Brooklyn, New York City. Located at 757 Nostrand Ave., the property was 95 percent vacant at the time of the sale. Fotis represented the undisclosed buyer and seller in the disposition.
MIDDLETOWN, PA. — Michael Hess, Rob Weber and Mark Pasquella of CB Richard Ellis have negotiated two leases on behalf of American Power Conservation (APC) for industrial space in Middletown. APC has signed on for 650,000 square feet of distribution space at 201 Fulling Mill Rd., and it has also signed a short-term lease for 490,000 square feet of space at 400 and 401 First St. in the Capital Business Center. APC leased the space from ProLogis.
WEST BABYLON, N.Y. — Marcus & Millichap has completed the $12.75 million sale of two multifamily communities in West Babylon. Suburbia Gardens and Thunderbird Gardens, located at 381 Great East Neck Rd. and 101 Magaw Place, respectively, contain six two-story buildings with a total of 85 units. Ken Hoff of Marcus & Millichap represented the seller, John Caruso of Rinmark Properties and Kimcore Realty, and represented the buyer, Mark Broxmeyer of Fairfield Properties, in the transaction.
PATERSON, N.J. — NAI James E. Hanson has completed the sale of a 30,250-square-foot industrial building in Paterson. Located at 610 E. 32nd St., the one-story building also features 1,500 square feet of office space. The new owner, the Gladstein Partnership, plans to use the space for the distribution and delivery of auto parts. Jeffrey DeMagistris and Thomas Vetter of NAI Hanson represented the seller, LEM Realty. The sale price was undisclosed.
PROVIDENCE, R.I. — John Edwards of Arbor Commercial Funding has originated a $1.3 million loan in Providence. The funding was used by an undisclosed borrower to acquire Allendale Crossing, a 25-unit multifamily complex. Funding was provided by the Fannie Mae DUS 3MaxExpress program. The 10-year loan was based on a 30-year amortization schedule with a note rate of 6.47 percent.