NEW YORK CITY — Marcus & Millichap has brokered the $4.9 million sale of a 10,900-square-foot retail and medical office building in Brooklyn’s Sheepshead Bay neighborhood. The building at 1670 E. 17th St. has 12 suites and is zoned for up to 4,700 square feet of expansion. Jakub Nowak of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
WILMINGTON, MASS. — JLL has arranged a $57 million construction loan for a 237,800-square-foot industrial project that will be located at 800 Salem St. in the northern Boston suburb of Wilmington. Building features will include a clear height of 36 feet, 47 dock positions and parking for 332 cars and 33 trailers. Steven Klein, Brett Paulsrud and Ryan Parker of JLL arranged the three-year loan through an undisclosed national bank on behalf of the borrower, a partnership between Connecticut-based Wheelock Street Capital and Boston-based Camber Development. Construction is underway and expected to be complete in the third quarter.
BOSTON — J. Safra Real Estate, an affiliate of international banking and investment firm Safra Group, has agreed to acquire the historic Faneuil Hall Marketplace in downtown Boston. Faneuil Hall traces its origins to 1742, when the site served as a meeting ground and a center of commerce for Boston residents and visitors. Today, the development is home to more than 80 individual businesses. The seller was Ashkenazy Acquisition Corp. Details of the transaction, such as the price and expected closing date, were not disclosed.
NEW YORK CITY — Marcus & Millichap has brokered the $7.5 million sale of an assemblage of three industrial-zoned lots in Brooklyn’s Greenpoint area. The assemblage consists of three lots along Huron Street, and the largest of the three parcels houses a 15,000-square-foot building. Thomas Brennan and Jakub Nowak of Marcus & Millichap represented the seller in the transaction. Vincent Pan and Tina Lin of Ritz Realty represented the buyer, which also plans to occupy the site. Both parties requested anonymity.
MOORESTOWN, N.J. — Resort Lifestyle Communities has opened Parkers Bend, a 128-unit independent living community in Moorestown, located outside of Philadelphia in Southern New Jersey. Parkers Bend offers 128 units in studio, one-, two- and three-bedroom configurations. Residents have access to multiple dining options and venues as well as various social activities, travel programs and health and wellness initiatives. Information on starting rents was not disclosed.
NEW YORK CITY — Investment banking advisory firm Evercore has signed a 95,000-square-foot office lease expansion at Park Avenue Plaza, a 45-story, 1.2 million-square-foot building in Midtown Manhattan. Evercore’s additional space is located across floors 39 through 41, and the company now occupies about 500,000 square feet total at Park Avenue Plaza. Alan Desino of Colliers represented Evercore in the lease negotiations. Marc Packman, Charles Laginestra, Clark Briffel and Josh Fisher represented the landlord, Fisher Brothers, on an internal basis.
YONKERS, N.Y. — Developers have released plans to build two new multifamily projects in Yonkers, about 20 miles north of New York City. The developments represent a total of $186.6 million in private investment and are expected to create 503 construction jobs. The Yonkers Industrial Development Agency recently granted final approval of financial incentives for both projects. Miroza Tower, which a subsidiary of Azorim Construction Co. Ltd. is developing, will rise 27 stories at 44 Hudson St. The $133.5 million project will comprise 250 apartment units, 25 of which will be designated as affordable housing. Amenities will include a party room, library, conference room, gym, two resident lounges, a rooftop garden and children’s playroom. The tower will also include 1,920 square feet of first-floor retail space and a 252-space parking garage. Azorim is receiving a sales tax exemption of $5.8 million, a mortgage recording tax exemption of $1.3 million and a 20-year payment in lieu of taxes (PILOT) agreement valued at $12.4 million. The project is expected to create 324 construction jobs. The Center for Urban Rehabilitation and Empowerment Inc. (CURE), a local nonprofit, and Conifer Realty LLC in partnership with the City of Yonkers are developing the second project, …
NEW YORK CITY — Locally based developer The Moinian Group has begun vertical construction of 7 Platt Street, a 35-story apartment tower in Manhattan’s Financial District. The 170,000-square-foot building will house 250 units in studio, one- and two-bedroom configurations, as well as some penthouses. Amenities will include a fitness center, library, coworking pods, lounge spaces, private dining spaces with outdoor terrace access, a gaming area, rooftop deck, golf putting area and a communal entertainment kitchen. The design team includes Rockwell Group and Hill West Architects. Completion is scheduled for late 2025.
NEW YORK CITY — New Jersey-based intermediary Cronheim Mortgage has arranged a $15.4 million loan for the refinancing of the Hampton Inn Manhattan/Downtown-Financial District. The pet-friendly, recently renovated hotel has 81 rooms and offers amenities such as a fitness center, business center and complimentary breakfast. David Turley led the Cronheim team that arranged the loan through an undisclosed national bank on behalf of the borrower, Virginia-based Shamin Hotels.
EDISON, N.J. — CBRE has secured an 80,250-square-foot industrial lease in the Northern New Jersey community of Edison. The building at 74 Carter Drive features a clear height of 32 feet, 14 loading docks and 29 parking spaces. Chad Hillyer, Kevin Dudley, Tristan Askew, Jake Westfall, Nicholas Klacik and Kate Granahan of CBRE represented the tenant, Roca Tile, which is relocating from nearby Carteret, in the site selection and lease negotiations. Wick Cos. owns the building.