POHATCONG, N.J. — Locally based developer Larken Associates has completed the lease-up of Monte View at Pohatcong, a 120-unit apartment complex located near the Pennsylvania-New Jersey border near Easton. The garden-style property consists of three multi-story buildings and one four-story building with a ground-floor clubhouse. Units come in one- and two-bedroom floor plans. Amenities include a pool, fitness center, game room, coworking space, grilling stations and a dog run. Construction began in November 2023. Leasing commenced last fall, at which time rents started at roughly $2,000 per month for a one-bedroom apartment.
Northeast
NEW YORK CITY — Marcus & Millichap has brokered the $10.9 million sale of a 13,000-square-foot mixed-use building in Manhattan’s Little Italy neighborhood. Constructed in 1900, the building at 385 Broome St. comprises five apartments that feature a mix of floor plans and are currently vacant, as well as two ground-floor spaces. Peter Dodge, Joe Koicim and Logan Markley of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
WEST HAVEN, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $5.2 million sale of a 40-unit apartment building in the southern coastal Connecticut city of West Haven. According to Apartments.com, the three-story building at 295 Elm St. was originally constructed in 1960. Bradley Balletto, Rich Edwards, Jeff Wright and Derek Mahabir of NEPCG represented the local seller, CT Realty Trust, in the transaction and procured the buyer, an undisclosed, New York City-based private investor.
NEW YORK CITY — Cushman & Wakefield has negotiated a 25,868-square-foot industrial lease near JFK International Airport in Queens. The tenant, logistics provider ECMS Express, is taking space at Inwood Logistics Center, a 10-building development. Rico Murtha, Helen Paul, Sonny Singh, Thomas Deluca, David Frattaroli, John Giannuzzi and Joseph Hentze Jr. represented the landlord, a partnership led by Onyx Equities, in the lease negotiations. Rusty Smith, also with Cushman & Wakefield, represented ECMS Express in the deal.
NEW YORK CITY — The Swedish Institute Inc. has signed a 17,610-square-foot office lease expansion in Manhattan’s Chelsea district. The organization, which specializes in health and wellness education, now occupies 57,678 square feet at 151 W. 26th St. The Swedish Institute also extended its original lease for 40,068 square feet for another 10 years. Mark Weiss of Cushman & Wakefield represented the tenant in the lease negotiations. Max Koeppel represented the landlord, Koeppel Rosen LLC, on an internal basis.
NEW YORK CITY — A partnership between Connecticut-based Cross Ocean Partners and Dallas-based Lincoln Property Co. has acquired the leasehold interest in 470 Vanderbilt Avenue, a 650,000-square-foot office building in downtown Brooklyn. According to LoopNet Inc., the 10-story building was originally constructed in 1931 and last renovated in 2012. The building was fully leased at the time of sale, with the New York City Human Resources Administration and New York City Housing Authority serving as the longstanding anchor tenants. The seller and sales price were not disclosed, but Crain’s New York Business reports that the seller was local real estate giant RXR and the price was approximately $70 million.
MARLBOROUGH, MASS. — Locally based developer The Procopio Cos. has topped out 57 Main, a 92-unit multifamily project located in the western Boston suburb of Marlborough. Designed by The Architectural Team and built by Angus Construction, 57 Main will feature 52 one-bedroom apartments and 40 two-bedroom apartments, as well as 3,220 square feet of ground-floor retail space and a landscaped courtyard facing Union Park. Completion is slated for next spring.
RED BANK, N.J. — A limited liability company doing business as Thrive RB LLC has broken ground on a 32-unit multifamily project in the Northern New Jersey community of Red Bank, located near the Jersey Shore. Known as THRIVE Red Bank, the three-story building is being developed as housing for neurodivergent individuals. Five units will be subject to income restrictions, and the remainder will be private-pay housing. Completion is slated for 2027.
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.