CLIFTON PARK, N.Y. — Locally based firm Standard Brokerage Co. has negotiated the sale of a portfolio of two industrial buildings totaling 153,400 square feet that are situated “at and around” 620 Van Patten Drive in Clifton Park, located outside of Albany. According to LoopNet Inc., the building at 620 Van Patten Drive was built in 2001 and totals 38,400 square feet. The sale included 27 adjacent acres that can support new industrial development. The buildings were leased to four tenants at closing. The buyer and seller were not disclosed.
HAVERHILL, MASS. — Chicago-based investment firm Echo Real Estate Capital Inc. has sold a 59,000-square-foot medical office building located in the northern Boston suburb of Haverhill for approximately $9.6 million. The building is located on the Lawrence General Holy Family Hospital campus and was 90 percent leased at the time of sale. Tenants include Revere Medical, Northeast Rehab, Mobility Bone and Joint Institute and PhyNet Dermatology. The buyer was not disclosed.
NEW YORK CITY — Grammarly has signed a 23,038-square-foot office lease in Midtown Manhattan. The provider of AI-supported writing assistance services will occupy the entire eighth floor at 360 Park Avenue South, a 450,000-square-foot building that was recently repositioned. Justin Haber and Kyle Riker of JLL represented Grammarly in the lease negotiations. Peter Turchin, Gregg Rothkin, Ross Zimbalist, Arkady Smolyansky, Hayden Pascal and Trevor Larkin from CBRE represented the landlord, Boston Properties (BXP).
NEW YORK CITY — A partnership between two local owner-operators, Foxy Development and Selfhelp Realty Group, has broken ground on The Perennial, a $150 million affordable housing project that will be located in the Forest Hills neighborhood of Queens. The project is a conversion of the former Parkway Hospital building, which has been shuttered since 2008. Of the 145 total units, 124 will be senior units, 44 residences within which will be reserved for formerly homeless individuals. The remaining apartments will be family units. All residences will be reserved for households earning 50 percent or less of the area median income. Project partners include architect Newman Design, Cityscape Engineering, Suffolk Construction and MEP engineer Mottola Rini. TD Bank provided construction financing for the project, and The Community Preservation Corp. will provide permanent financing. Construction is expected to be complete in late 2027.
HANOVER, MASS. — Houston-based owner-operator The Hanover Co. has sold a 297-unit apartment complex in Hanover, located southeast of Boston. Hanover Crossing Residences was built in 2023 and comprises four four-story buildings that house one-, two- and three-bedroom units with an average size of 934 square feet. Amenities include a pool, entertainment kitchen and social lounge, fitness center, coworking space and outdoor grilling and dining areas. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller in the transaction. The buyer was an affiliate of AEW Capital Management. The sales price was not disclosed.
YONKERS, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage has arranged a $10.3 million loan for the refinancing of a two-building, mixed-use portfolio in Yonkers, located north of New York City. The portfolio consists of Nepperhan Plaza, an office and retail building, and YoHo Lofts, a multi-story industrial loft building that has been converted to artist housing. The names of the direct lender and borrower were not disclosed.
WALTHAM, MASS. — Marcus & Millichap has brokered the $3.4 million sale of a nine-unit apartment building located in the western Boston suburb of Waltham. The building at 9-19 Brown St. houses a mix of one- and two-bedroom apartments and three-bedroom townhouses, as well as six rentable garages. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
BERWICK, MAINE — Colliers has negotiated the sale of a 24,280-square-foot industrial complex in Berwick, located on the Maine-New Hampshire border. The sales price was $1.9 million. The property consists of two buildings on an 8.4-acre site that were 76 percent leased to four tenants at the time of sale. Andrew Ward and Tim Braseth of Colliers represented the seller, Mick Construction Corp., in the transaction.
LIVERPOOL, N.Y. — Marcus & Millichap has brokered the sale of America Stores It, a 407-unit self-storage facility in Liverpool, located about 10 miles northwest of Syracuse. Built on 5.6 acres in 2023, the property offers 47,700 net rentable square feet of space across 31 climate-controlled units and 376 non-climate-controlled units. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record. The sales price was also not disclosed.
WATCHUNG, N.J. — On behalf of an undisclosed landlord, Levin Management Corp. (LMC) has welcomed four new tenants to the 420,000-square-foot Blue Star Shopping Center in the Northern New Jersey community of Watchung. The leases with Burlington, Taco Bell, Nail Spa & Beyond and Marshalls total roughly 62,200 square feet. Marshalls will relocate to a 27,000-square-foot portion of a building formerly occupied by ShopRite, which is also being redeveloped to accommodate Burlington. Additionally, Taco Bell has opened a 2,900-square-foot restaurant, while Nail Spa & Beyond will operate a 5,800-square-foot salon. E.J. Moawad of LMC represented ownership in the lease negotiations. Cliff Simon of CNS represented Burlington, while Jerry Welkis and Stephan Miller of Welco Realty represented Marshalls. Bob Delia of Summit Realty represented Taco Bell.