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75-Canal-St.-Manchester-New-Hampshire
DevelopmentMultifamilyNew HampshireNortheast

Jones Street Completes 250-Unit Multifamily Project in Manchester, New Hampshire

by Taylor Williams

MANCHESTER, N.H. — Private equity real estate firm Jones Street Investment Partners has completed a 250-unit multifamily project in Manchester, located near the New Hampshire-Massachusetts border. Located at 75 Canal St. in the downtown area, the property houses studio, one-, two- and three-bedroom units and 2,000 square feet of retail space. Amenities include a fireside lounge, rooftop terrace, work pods, social lounge and TV parlor, game room, fitness center, outdoor courtyards and a pet spa. Construction began in late 2022. Rents start at approximately $1,800 per month for a studio apartment.

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LoansMultifamilyNew YorkNortheast

Cronheim Mortgage Arranges $12.5M Permanent Loan for Queens Apartment Building

by Taylor Williams

NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $12.5 million permanent loan for The Jackson, a 40-unit apartment building located in the Jackson Heights area of Queens. The newly built property houses studio, one- and two-bedroom units with an average size of about 600 square feet, as well as ground-floor retail space that is leased to T-Swirl Crepe, Pizza Hut, Alta Aesthetics and a law firm. Amenities include a fitness center and a rooftop terrace. Andrew Stewart and Allison Villamagna of Cronheim originated the debt. The direct lender and borrower were not disclosed.

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AcquisitionsMultifamilyNew HampshireNortheastSeniors Housing

Continuum Advisors Negotiates $11M Sale of Seniors Housing Property in Central New Hampshire

by Taylor Williams

MEREDITH, N.H. — Continuum Advisors has negotiated the $11 million sale of Meredith Bay Colony Club, an 85-unit seniors housing property in central New Hampshire. Built in 2008, the continuing care retirement community (CCRC) offers 41 independent living apartments, 20 assisted living residences and 24 memory care units, as well as an additional 18 undeveloped acres for future expansion. Amenities include an indoor pool and a fitness center. The buyer was nonprofit owner-operator Taylor Community.

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AcquisitionsNew JerseyNortheastRetail

Marcus & Millichap Brokers $2.5M Sale of Shopping Center in Paulsboro, New Jersey

by Taylor Williams

PAULSBORO, N.J. — Marcus & Millichap has brokered the $2.5 million sale of a 46,236-square-foot shopping center in Paulsboro, located outside of Philadelphia in Southern New Jersey. Save-A-Lot Food Stores and Dollar Tree are the anchor tenants at the property at 545 Broad St. Alan Cafiero, Brent Hyldahl and Seth Goldberg of Marcus & Millichap represented the seller and buyer, both of which were private investors that requested anonymity, in the transaction.

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IndustrialLeasing ActivityNortheastOfficePennsylvania

Newmark Negotiates 34,493 SF Lease at Industrial Flex Building in Plymouth Meeting, Pennsylvania

by Taylor Williams

PLYMOUTH MEETING, PA. — Newmark has negotiated a 34,493-square-foot lease in Plymouth Meeting, a northwestern suburb of Philadelphia. The tenant, HVAC and plumbing services provider Donnelly’s Home Comfort Specialists, is taking space at the 143,000-square-foot industrial flex building at 1 Innovation Drive. Jim Dugan, Justin Bell and Patrick Nowlan of Newmark represented the landlord, Alliance HP, in the lease negotiations. The name of the tenant representative was not disclosed.

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799-Broadway-Manhattan
AcquisitionsNew YorkNortheastOffice

Savanna Acquires Manhattan Office Building for $255M

by Taylor Williams

NEW YORK CITY — Locally based investment firm Savanna has acquired 799 Broadway, a 176,588-square-foot office building in Manhattan’s Greenwich Village area, for $255 million. Designed by Perkins & Will, the 12-story building was completed in 2022 and was 71 percent leased at the time of sale, with the tenant roster carrying a weighted average remaining lease term of 11 years. The building also houses a tenant lounge, outdoor amenity spaces and ground-floor retail space. Gary Phillips and Will Silverman of Eastdil Secured represented the seller, a partnership between Columbia Property Trust and Cannon Hill Capital Partners, in the transaction. The duo also procured Savanna as the buyer.

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1000-Woodbury-Road-Long-Island
AcquisitionsNew YorkNortheastOffice

CBRE Brokers $23.5M Sale of Long Island Office Building

by Taylor Williams

WOODBURY, N.Y. — CBRE has brokered the $23.5 million sale of a 255,019-square-foot office building in Woodbury, a hamlet located on the east side of Nassau County on Long Island.  According to LoopNet Inc., the four-story building at 1000 Woodbury Road was originally constructed in 1984 and renovated in 2007. Jeff Dunne, Steve Bardsley, Travis Langer and Philip Heilpern of CBRE represented the seller, RXR Realty, in the transaction. The team also procured the buyer, TKF Burnside Real Estate. At the time of sale, the building was 61 percent leased, with energy services provider Petro and law firm Milber Makris serving as the anchor tenants.

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AcquisitionsIndustrialNew JerseyNortheast

Dora’s Naturals Buys Industrial Property in Moonachie, New Jersey, for $20.9M

by Taylor Williams

MOONACHIE, N.J. — Dora’s Naturals, a distributor of perishable food-and-beverage products, has purchased a 70,680-square-foot industrial property in the Northern New Jersey community of Moonachie for $20.9 million. The building at 80 Knickerbocker Road was originally constructed in 1985 and renovated in 2022, according to LoopNet Inc. Kevin Dudley, Nicholas Klacik, Chad Hillyer, Kate Granahan, Brian Fiumara, Elli Klapper and Jeremy Wernick of CBRE represented Dora’s Naturals, which also recently purchased a 105,000-square-foot industrial building in Moonachie, in the transaction. KBC Advisors represented the seller.

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AcquisitionsNew YorkNortheastOffice

Open Impact Real Estate Arranges 27,147 SF Office Lease in Brooklyn

by Taylor Williams

NEW YORK CITY — Locally based brokerage firm OPEN Impact Real Estate has arranged a 27,147-square-foot office lease in Brooklyn. The tenant, social services provider Rising Ground Inc., will occupy the entire 20th floor and part of the 19th floor at 111 Livingston St. in the Brooklyn Heights neighborhood. Stephen Powers, Lindsay Ornstein, Alexander Smith and Kendall Elliott of OPEN Impact represented the tenant, which plans to take occupancy next spring, in the lease negotiations. The undisclosed landlord was self-represented.

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DelawareLeasing ActivityNortheastOffice

PNC Bank Signs 32,530 SF Office Lease Renewal in Wilmington, Delaware

by Taylor Williams

WILMINGTON, DEL. — PNC Bank has signed a 32,530-square-foot office lease in Wilmington. The space is located within the lender’s namesake building in the downtown area. John Kaczowka of CBRE represented the landlord, Douglas Development, in the lease negotiations. Tom Coyne of Fidelity Commercial represented PNC Bank, which occupies the 15th and 18th floors.

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