BELMONT, MASS. — Zelco Properties & Development, in partnership with AGW Partners, has purchased a 34,000-square-foot retail condo in Belmont, a western suburb of Boston. The space is located within The Bradford, a newly constructed development that houses 115 apartments across three buildings in addition to the retail condo. Retail spaces range in size from 450 to nearly 20,000 square feet. Starbucks currently anchors the condo, which also includes purpose-built restaurant space. The partnership has tapped Connecticut-based Charter Realty to lead leasing efforts.
NEW YORK CITY — Tremont Realty Capital, a division of Boston-based investment firm RMR Group, has provided a $34.5 million loan for the refinancing of a mixed-use building on Manhattan’s Upper West Side. The 23,300-square-foot building at 2875 Broadway houses retail and healthcare uses. Tremont funded the floating-rate loan, which has a two-year initial term with three one-year extension options, through its affiliate, Seven Hills Realty Trust (NASDAQ: SEVN). Meridian Capital Group arranged the debt on behalf of the sponsor, a partnership between TPG Angelo Gordon and Premier Equities.
WAYNE, N.J. — The hospitality affiliate of locally based financial intermediary Cronheim Mortgage has arranged a $19.5 million acquisition loan for the Home2 Suites by Hilton hotel in Wayne, located in Northern New Jersey. The hotel was built in 2020. The room count was not disclosed. Amenities include an indoor pool, fitness center, complimentary hot breakfast and an onsite restaurant. Cronheim arranged the five-year, floating-rate loan on behalf of the borrower, hospitality owner-operator Spark GHC. The direct lender was also not disclosed.
PISCATAWAY, N.J. — Lee & Associates has brokered the $19.4 million sale of two industrial buildings totaling 101,454 square feet in the Northern New Jersey community of Piscataway. The buildings at 121 and 131 Ethel Road W. were fully leased at the time of sale to tenants in the distribution, food production and research-and-development sectors. Drew Maffey and Joseph Komitor represented the buyer, national investment firm Longpoint, in the transaction. The seller was not disclosed.
MOORESTOWN, N.J. — Pennrose has completed Residences at Harper, a 76-unit affordable housing project in Moorestown, located in Southern New Jersey’s Burlington County. Units come in one-, two- and three-bedroom floor plans and are reserved for households earning between 30 and 60 percent of the area median income. Several residences will be specifically earmarked for formerly homeless residents or those with certain disabilities. Amenities will include a community room, fitness center, playground and a laundry room.
BASKING RIDGE, N.J. — Aucta Pharmaceuticals, which specializes in the development and commercialization of branded specialty products, has purchased a 52,000-square-foot office building in Basking Ridge, about 35 miles west of New York City, for its new headquarters. Local brokerage firm The Kislak Co. represented Aucta Pharmaceuticals in the $4.6 million acquisition. The seller was not disclosed.
EXTON, PA. — Hankin Group will undertake a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia. Upon completion, the expansion will add 117 independent living residences to the property, which currently consists of 107 assisted living and memory care units and 9,000 square feet of amenity space. The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access to a parking garage, landscaped courtyards and walking trails. Completion is scheduled for November 2026.
MOUNT KISCO, N.Y. — JLL has brokered the sale of a 598-unit self-storage facility in Mount Kisco, about 45 miles north of Manhattan. CubeSmart operates the facility at 140 Radio Circle, which was completed in 2024 and spans 64,130 net rentable square feet, the majority of which (92 percent) is climate-controlled space. Guthrie Garvin led the JLL team that represented the seller, DHIP Group, in the transaction and procured the buyer, an affiliate of New York City-based investment firm Andover Properties. The facility was 57 percent occupied at the time of sale. The sales price was not disclosed.
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.