YONKERS, N.Y. — Robin Herko and Steve Lorenzo of NAI Friedland have completed the sale of 49-52 Main St. in Yonkers. The 16,500-square-foot parcel was purchased by an investment group that plans to incorporate the site into a new mixed-use development project. Herko and Lorenzo represented both the undisclosed buyer and seller in the disposition. The sale price was not specified.
Northeast
NEW YORK CITY — Multi Capital Group has provided EB Developers with a $39.1 million pre-construction loan. The loan will provide funding for a 242-key hotel in Manhattan, New York City. The hotel will also include meeting space, a health club, a bar, a lounge and a 32nd floor restaurant.
ALLENTOWN, PA. — US Realty Capital has arranged $38 million in financing for the acquisition of Cedar Crest Professional Park in Allentown. Bruce Robertson, Jr., of US Realty, arranged the loan for the undisclosed borrower. The first lien mortgage was underwritten at an annual rate of LIBOR plus 200 bps. Amortization was based on a 25-year schedule, and the first 18 months of the loan were on an interest only basis.
CRANBURY, N.J. — Aurobindo USA has signed a 103,350-square-foot lease at Matrix Development’s distribution facility located at 102 Melrich Rd. in Cranbury. The pharmaceutical company will use the space for office, general warehouse space and distribution space. Matrix was represented in-house in the transaction by Patrick Connelly, and Aurobindo was represented by Charles Fern of Jones Lang LaSalle.
NEW YORK CITY — Carlton Advisory Services has arranged $92 million in senior debt and mezzanine financing for the acquisition of 511-541 W. 25th St. The 158,908-square-foot property, which is located in the Chelsea area of Manhattan, New York City, was purchased by the Cardinal Investment Group. The loan was placed by Michael Campbell, Steve Fenster and Steven Rock of Carlton.
JERSEY CITY, N.J. — AXA Equitable Life Insurance has leased 244,000 square feet of office space in the Newport Tower in Jersey City. Located at 525 Washington Blvd., the 36-story tower is owned by Brookfield Properties. Raymond Sanseverino and Dana Rosenthal of Loeb & Loeb represented Brookfield in the negotiations, and AXA was represented by Stroock & Stroock & Lavan.
NEW YORK CITY — Eastern Consolidated has completed the $24.5 million sale of a six-building portfolio of mixed-use properties throughout the Bronx, New York City. The portfolio contains a total of 30 commercial units and 179 residential units. Four properties — 2195 Grand Concourse, 117 Kingsbridge Rd., 25 Gunhill Rd., and 2424 E. Tremont Ave. — are corner apartment buildings with retail components. The other two properties include 535 E. Tremont Ave. and 4216 Third Ave. Peter Hauspurg, Marcia Rose Yawitz and Harrison Douglas of Eastern Consolidated represented the seller, Intervest Development Corp., and Eastern’s Ronda Rogovin procured the undisclosed buyer in the transaction.
BOSTON — Cushman & Wakefield has brokered the $4.85 million sale of 50 Redfield St. in Boston. The 43,380-square-foot office building is located in the Neponset section of Boston. Robert Griffin, Jr., Richard Putprush, David Pergola, Christopher Griffin and Brian Doherty of Cushman & Wakefield represented the seller, Eastport Harbor, and procured the buyer, Mayo Group, in the transaction.
GATES, N.Y. — The Pepsi Bottling Group has leased the 107,000-square-foot Building 12 in the Rochester Technology Park in Gates. Pepsi plans to use the facility for warehouse, distribution, equipment delivery and repair, and fleet maintenance operations. Owned by the Tryan Group, the Rochester Technology Park totals 5 million square feet of industrial space. Bob Moore and Paul Campbell of Moore Corporate Real Estate brokered the transaction.
SHELTON, CONN. — Bruce Wettenstein of Vidal/Wettenstein has completed the $3.8 million sale of 6 Waterview Dr. in Shelton. The 45,000-square-foot industrial facility sits on 5 acres. Wettenstein represented the seller, Doran Manufacturing, and Joel Hausman represented the buyer, Alpha-Core, in the transaction.