LANCASTER, PA. — AMC Delancey Group has sold its 60,712-square-foot Quality Center Shopping Center to Waterford Realty, a Meridian Capital Group affiliate. The center, located in Lancaster near routes 30 and 896, is 88 percent leased. Quality Center tenants include Adidas, Tuesday Morning, Lemon Grass Thai and Oriental Rug. Richard Frolik of CB Richard Ellis represented the seller in the transaction. The sale price was undisclosed.
Northeast
JERSEY CITY AND BRIDGETON, N.J. — Patrick Forde of Marcus & Millichapís New Jersey office has closed two apartment building sales totaling $6.4 million. The first property, a 32-unit building in Jersey City, sold for $2.7 million. Amenities include on-site parking. Forde represented the buyer, a local investor, and the undisclosed seller in the transaction. In addition, Forde closed the $3.7 million sale of a 156-unit apartment community in Bridgeton. The property offers one-, two- and three-bedroom apartment homes. Forde represented the buyer in the transaction, who plans to maintain the facility as affordable housing.
NEW CASTLE, DEL. — Patterson-Woods Commercial Properties/CORFAC International has completed the $2.9 million sale of 30 McCullough Drive in New Castle. Palace Laundry, doing business as Linens of the Week, purchased the 40,000-square-foot distribution warehouse from Ly-Del. The buyer will owner-occupy the warehouse. The one-story building features six loading docks, a 24-foot ceiling, a fenced yard and available parking. Phil Hoge and Greg Ellis of Patterson-Woods represented the seller in the transaction, and Chuck White of White Realty Associates represented the buyer.
WESTWOOD, N.J. — Charles Street Realty & Management has relocated to an office building at 25 Charles St. in Westwood. The property management company purchased the 4,700-square-foot building from 25 Charles Street, LLC, for an undisclosed amount. The two-story property housed a daycare center for 20 years. Darren Lizzack of NAI James E. Hanson represented the seller in the transaction.
CAMBRIDGE, MASS. — Extell Development and Equity Residential are currently developing 303 Third Street, an eight-story residential community in Cambridge. It is the first residential community in Boston proper to be marketed with the University Residential Community at the Massachusetts Institute of Technology. New York architectural and design firm Cetra/Ruddy designed the 605,000-square-foot project, which contains 292 rental apartments and 167 co-ops. The for-sale apartments are being marketed exclusively to the faculty, staff and alumni of MIT, Harvard University and Massachusetts General Hospital. High-end finishes of the apartments, which range in size from 1,200 to 1,600 square feet, include glass cabinetry and backsplashes, granite countertops and stone selections. Additions to the project include flexible meeting spaces and a club/library. Amenities include a private dining club, a spa and fitness club, an on-site medical office and an underground parking garage. The development is slated for occupancy this winter.
NEW YORK CITY — Construction is underway on 441 E. 57th Street, a 15-story condominium that will feature seven two-, three- and four-bedroom units upon completion in summer 2008. Manhattan-based FLAnk is developing the building, which is located in the Sutton Park neighborhood of Manhattan, New York City. The facility will include four duplexes, one triplex and one penthouse, ranging in size from 1,650 to 3,390 square feet. Finishes include charcoal-stained maple flooring, BTX motorized shades and recessed cove lighting. Unit prices range from $2.8 million to $7.1 million. Amenities within the property are dedicated storage space in the lobby, a complimentary 1-year Sports Club L.A. membership and daily white-glove home cleaning by the Lindquist Agency. CyberDoorman, an interactive touch screen control panel connected to a 24-hour monitoring and security service, will provide the building’s entry-control, delivery management and security.
PARSIPPANY, N.J. — McMorgan & Co. has purchased 10 Waterview Boulevard., a 208,601-square-foot Class A office building located in the Waterview Corporate Center business park in Parsippany. Situated on 18.6 acres, tenant spaces in the building range in size from 2,484 to 45,032 square feet. Tenants of Waterview include US Express Leasing, the Food and Drug Administration, PharmaVOICEMarketplace.com and BASES. Thebuilding is in close proximity to interstates 287 and 80, as well as to routes 46 and 202. The sale price and the seller were not disclosed.
NEW YORK CITY —Massey Knakal Realty Services has brokered the $4.6 million sale of a five-story walk-up building in Manhattan, New York City. Rob Vahradian and Helena Willner purchased the building, located at 38 W. 87th St. on the Upper East Side, from Murray Platzman The 20-foot by 72-foot building contains approximately 6,240 square feet, including nine one-bedroom units and one studio, as well as a three-story extension, a landscaped garden with a deck and high ceilings. Meyrick Ferguson and Paul Smadbeck of Massey Knakal represented the seller in the transaction, and Simon Balaj of The Corcoran Group represented the buyer.
GREAT NECK, N.Y. — An entity associated with developer Kevin Kim has purchased 136 Northern Boulevard, a 6,000-square-foot retail building in Great Neck, from an undisclosed seller for $4.85 million. A Blockbuster and three local retail tenants previously occupied the building. Kenneth Roth of NAI Long Island represented the seller in the transaction.
BETHLEHEM, PA. — BLS Realty Associates has purchased the 38,000-square-foot Warner Crivellaro stained glassworks building in Bethlehem for $1.8 million. The new owner plans to open a tile, granite and marble construction supply company and showroom. The building is located at 1855 Weaversville Rd., north of the Lehigh Valley Industrial Parks I-V. Lisa Wright of Prudential Patt White represented the buyer in the transaction, and Leo Decker of Summit Management and Realty Co. represented the undisclosed seller.
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