NEW YORK CITY — Marcus & Millichap has brokered the $10.4 million sale of a 34-unit apartment building on Manhattan’s Upper East Side. The five-story building at 234-236 E. 88th St. was originally constructed in 1920. Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
CHESHIRE, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $2.7 million sale of Country Plaza, a 26,000-square-foot office and retail complex in Cheshire, located roughly midway between Hartford and New Haven. The property is home to a mix of food-and-beverage, service retail and healthcare users. Toby Brimberg of O,R&L represented the undisclosed seller and the buyer, Kisco Funding Group, in the deal.
WESTCHESTER COUNTY, N.Y. — Starwood Property Trust has provided $500 million in financing for a portfolio of 42 industrial buildings totaling approximately 2.4 million square feet in Westchester County, located north of New York City. The buildings are housed within three industrial parks and ae collectively known as the Westchester Industrial Portfolio. Peter Rotchford, Christopher Peck, Andrew Scandalios, Tyler Peck and Christopher Pratt of JLL arranged the debt on behalf of the owner, a partnership between affiliates of Dune Real Estate Partners and Robert Martin Co.
BILLERICA, MASS. — Newmark has arranged the recapitalization of Axis Park North, a 450,000-square-foot industrial and life sciences campus located north of Boston in Billerica. The owner, a partnership between Camber Development and Wheelock Street Capital, sold a stake in the property to GEM Realty Capital for $79 million. The percentage was not disclosed. The six-building campus can support manufacturing and research-and-development uses and is currently home to tenants such as ASMPT AEi, Generac Power Systems and SuperConducting Systems. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, William Sleeper, Tony Coskren and Brian Pinch of Newmark represented both sides in the transaction.
WOODBRIDGE, N.J. — Locally based developer Woodmont Properties has broken ground on a 300-unit multifamily project in the Northern New Jersey community of Woodbridge. Woodmont Rail at Metropark will rise six stories and will offer studio, one-, two- and three-bedroom units that will range in size from 574 to 1,400 square feet. Residences will feature Energy Star appliances, quartz countertops, spa-like bathrooms and private balconies. Amenities will include a pool, fitness center, multi-sport simulator, clubroom, media room, coworking space, dog run, outdoor dining stations and a rooftop lounge. Completion is scheduled for 2028.
WEST HARTFORD, CONN. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a 200-unit apartment complex in West Hartford. Built in 1971, Cove West Hartford offers one- and two-bedroom units with average sizes of 803 and 1,103 square feet, respectively. Amenities include a clubhouse with a community room, an outdoor patio, pergola and a firepit. Eric Pentore, Victor Nolletti, Wes Klockner and Ross Friedel of IPA represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Marcus & Millichap has brokered the $4.2 million sale of a 14,110-square-foot medical office building in The Bronx. The facility at 1615 Eastchester Road has been leased to DaVita Dialysis, which has more than four years remaining on its current deal, since 1995. Daniel Chumbley, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a family office, in the transaction and procured the buyer, a New York-based investment group. Both parties requested anonymity.
CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming. The names and addresses of the five communities were not released, but Long Island Business News reports the properties are located in the Long Island cities of Mt. Sinai, West Babylon, Holtsville, Bethpage and Jericho, N.Y. “This transaction exemplifies Harrison Street’s ability to produce value by targeting strategic developments, creating portfolios at scale that deliver operational excellence and executing strategic sales at opportune moments in time,” says Ben Mohns, head of asset management, North America at Harrison Street. Chicago-based Harrison Street ranked as the fourth-largest owner of seniors housing properties in the newly released, 2025 edition of the ASHA 50. Since its inception, Harrison Street has invested roughly $14.6 billion in seniors housing assets. In December 2024, Harrison Street sold a …
HOBOKEN, N.J. — Urby, a joint venture between Ironstate Development and Brookfield Properties, has broken ground on a 345-unit multifamily project in Hoboken. Urby Hoboken will rise 16 stories and house studio, one- and two-bedroom units, with private terraces available in select residences. The centerpiece of the amenity package will be a fourth-floor courtyard that will feature a cold plunge pool, sunbeds, grilling stations and a fire pit pavilion. The pet-friendly building will also include a rooftop dog run. Lastly, Urby Hoboken will include more than 17,000 square feet of retail space. Mark DeLillo, Marc Schulder, Lee Spiegelman, Felipe Marin, Eli Zaoutis and Jeremy Silber of BlueGate Partners arranged $162 million in construction financing for the project through PCCP LLC. Completion is slated for summer 2027.
PHILADELPHIA — Marcus & Millichap has brokered the $27.1 million sale of a portfolio of four retail properties in metro Philadelphia that are leased to convenience store operator Wawa. The buildings were all constructed within the past three years and are located in Newtown, Pottstown, Warrington and Fairless Hills. Scott Woodard and Derrick Dougherty of Marcus & Millichap represented the buyer, a private investor based in Bucks County, in the 1031 exchange transaction. The sellers included regional developers, local private owners and East Coast-based owners and operators. All parties requested anonymity.