NEW YORK CITY — Local brokerage firm Ariel Property Advisors has arranged the $19.6 million sale of the Tegford Portfolio, a collection of nine rent-stabilized multifamily buildings totaling 237 units in the Longwood area of The Bronx. The buildings all rise five stories and are located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue. The portfolio also features 12 commercial spaces. Victor Sozio, Shimon Shkury, Jason Gold, Remi Mandell, Jake Brody and Gabriel Elyaszadeh of Ariel represented the undisclosed seller in the transaction. The buyer was also not disclosed.
NEW YORK CITY — Local brokerage firm Brax Realty has negotiated the $13.2 million sale of an office building in Manhattan’s Flatiron District. According to LoopNet Inc., the six-story building at 174-176 5th Ave. was constructed in 1900 and totals 21,588 square feet. The building also houses commercial space that is leased to Eisenberg’s Sandwich/S&P and State & Liberty. Michael Ferrara and Cole Kinney Leonhardt of Brax Realty brokered the deal. The buyer and seller were not disclosed.
WALPOLE, MASS. — Fun City Adventure Park will open a 40,500-square-foot entertainment venue south of Boston at Walpole Mall. Construction is underway on the venue, which will feature trampolines, inflatables, interactive games and party zones. Other tenants that have recently or will soon open at Walpole Mall include Burlington, The Milkshake Factory, Chick-fil-A, Duck Donuts and MANI-Q SALON. Regional owner-operator Wilder Cos. bought Walpole Mall in 2023 and has since implemented a range of capital improvements.
GREENWICH, CONN. — CBRE has negotiated the $97.5 million sale of The Mill, a 71-unit apartment complex located in the southern coastal Connecticut city of Greenwich. The Mill, which is a redevelopment of a 19th century riverfront industrial building, consists of five buildings that also house 28,653 square feet of retail space across them. The apartments consist of 59 units in the former mill (built in 1881) and a converted office building (built in 1981), plus 12 additional apartments located at 328 Pemberwick Road (built in 1983). Jeffrey Dunne, Eric Apfel, Stuart MacKenzie and Travis Langer of CBRE represented the seller and procured the buyer in the transaction.
CHESTNUT HILL, MASS. — Simon Property Group has begun the redevelopment of The Shops at Chestnut Hill, a shopping, dining and entertainment destination located on the western outskirts of Boston. The project will include a full repainting of the center’s interiors, the installation of a new lighting system, as well as fresh artwork and decor throughout the center, and a refreshing of the indoor garden area. Simon will also upgrade the center’s flooring, facades and restrooms. The project is expected to be substantially complete by the end of the year. The Shops at Chestnut Hill is currently home to about 50 retail and restaurant establishments, including the only Bloomingdale’s in Massachusetts.
WARREN, PA. — Cushman & Wakefield has arranged $25.2 million in financing for an 853,611-square-foot industrial property in Warren, located north of Pittsburgh. According to LoopNet Inc., the complex at 100-200 Murray Drive consists of two buildings that span 304,642 and 548,969 square feet. Building features include clear heights of up to 70 feet and 59 total dock doors. Brad Domenico, Frank Stanislaski and Ethan Thompson of Cushman & Wakefield arranged the debt on behalf of the borrower, private investor Yisroel Cherns. The direct lender was not disclosed. The property was 83 percent leased at the time of sale to tenants such as Cummins Inc., Whirley Industries and USA Medical Supplies.
WILMINGTON, DEL. — Regional investment firm Buccini Pollin Group has purchased three office buildings totaling approximately 252,000 square feet within Bellevue Park Corporate Center, a 52-acre campus in Wilmington. The purchase includes two four-story office buildings and a historic mansion that serves as a private amenity space for tenants. Jim Galbally and Brett Segal of JLL represented the undisclosed seller in the transaction. Buccini Pollin also owns three other buildings within Bellevue Park Corporate Center and has invested $1.1 million in capital improvements to the campus this year.
SAYVILLE, N.Y. — SRS Real Estate Partners has brokered the $20.7 million ground-lease sale of a 145,000-square-foot retail building in the Long Island community of Sayville. Target occupies the building at 5750 Sunrise Highway, which was constructed on 12.1 acres in 2014, and has roughly 14 years remaining on its corporate-guaranteed lease. Calvin Short of SRS, along with Jeff Christian of First Street Inc., represented the seller in the transaction. Tyler Leeson and Peter Deltondo of Marcus & Millichap represented the buyer. Both parties were California-based private investors that requested anonymity.
NEW YORK CITY — A partnership between Slate Property Group and Evenhar Development Corp. has broken ground on a medical office and civic facility at 1578 Lexington Ave. in Upper Manhattan’s Carnegie Hill neighborhood. Designed by Kutnicki Bernstein Architects, the 13-story building will feature 150,000 square feet of medical office space that will be occupied by providers within the Mount Sinai Health System. In addition, the facility will feature an employee daycare center, an 18,978-square-foot community hub that will be operated by Children’s Aid and a new facility for Life Changers Church. Financing for the project includes a $119 million construction loan from J.P. Morgan and a $40 million preferred equity investment by GoldenTree Asset Management. Occupancy is slated for spring 2028.
BOSTON — JLL has negotiated the $83 million sale of a 28,856-square-foot retail property in Boston’s Back Bay neighborhood. Known as the Mandarin Oriental Retail Collection, the spaces are located at 772 and 776-778 Boylston St. at the base of the Mandarin Oriental Hotel and within the Prudential Center. Citizens Bank anchors the space, which was 82 percent leased at the time of sale. Other tenants include Frette, MiniLuxe and Lunette Optic. Chris Angelone, Zach Nitsche, Sam Wiesman and Anthony Cutone of JLL represented the undisclosed seller in the transaction and procured the buyer, The Hennick Group.