NEW YORK CITY — Locally based investment firm AmTrust RE has acquired a 260,000-square-foot office building located at 360 Lexington Ave. in Midtown Manhattan for $65.5 million. Constructed in 1959, the 24-story building has received significant renovations in the past few years, including a new lobby and upgraded elevators and common areas. AmTrust plans to implement further capital improvements by adding several new amenities, including conference rooms and lounges. Adam Spies, Adam Doneger, Joshua King and Marcela Fasulo of Newmark represented both AmTrust RE and the undisclosed seller in the transaction.
WEST BRIDGEWATER, MASS. — National Development has completed a 210,600-square-foot industrial project in West Bridgewater, a southern suburb of Boston. The facility at 586 Manley St. can support warehousing and distribution uses and can also be subdivided to accommodate multiple tenants. Building features include a clear height of 36 feet, 37 loading docks, two drive-in doors and abundant vehicle and trailer parking. Cranshaw Construction served as the general contractor. National Development has tapped JLL as the leasing agent.
CHELMSFORD, MASS. — Newmark has arranged the sale and financing of 2 Executive Drive, a 113,800-square-foot life sciences building located in the northwestern Boston suburb of Chelmsford. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell, Joseph Alvarado and Casey Valente of Newmark represented the seller, Foxfield, in the transaction. David Douvadjian Sr., Timothy O’Donnell, David Douvadjian Jr. and Conor Reenstierna, also with Newmark, arranged an undisclosed amount of acquisition financing for the buyer, Rhino Capital, through Bank Newport.
BOSTON — Marcus & Millichap has brokered the $4.6 million sale of a six-unit apartment building in the Brighton area of Boston. The newly renovated building at14 Mt. Hood Road was originally constructed in 1910 and offers a mix of one-, two-, three- and four-bedroom units. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Market @77 has opened a 40,000-square-foot food hall at the Brooklyn Navy Yard. Situated on the ground floor of Building 77, the venue is home to concepts such Russ & Daughters, Hungry House, Jalapa Jar, Pizza Yard, Sabor, Rustik Tavern, Transmitter Brewing and She Wolf Bakery. Nonprofit organization Brooklyn Navy Yard Development Corp. owns and manages the larger development.
DOUGLASSVILLE, PA. — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $57.8 million loan for the refinancing of Keystone Villa at Douglassville, a 248-unit seniors housing property located about 55 miles northwest of Philadelphia. The property comprises a 123-unit independent living building that was constructed in 2015 and a 125-unit assisted living and memory care building that was constructed in 2011. Ryan Stoll and Taylor Mokris of BWE arranged the nonrecourse loan through Commercial Bank on behalf of the borrower, a joint venture between private investment trust ReNew REIT and operator Heritage Senior Living. The property was 92 percent occupied at the time of the loan closing.
NEW YORK CITY — Greystone has provided a $32 million CMBS loan for the refinancing of a 90-unit affordable housing complex in the Clinton Hill neighborhood of Brooklyn. The building at 58 Vanderbilt Ave. was completed in 2023 and features studio-, one- and two-bedroom units. Amenities include a rooftop terrace, business center and a recreation room, and the building houses two commercial spaces on the ground floor. Rose Schwartz and Gabby Gutwein of Everest Equity arranged the loan, which was structured with a 51 percent loan-to-value ratio, a five-year term and a 30-year amortization period. The borrower was not disclosed.
YONKERS, N.Y. — Locally based brokerage firm Houlihan-Lawrence Commercial has negotiated the $4.7 million sale of an 18,000-square-foot retail property in Yonkers, located north of New York City. Apparel and footwear retailer Snipes anchors the property, which features nine storefronts and is also home to Yonkers Paint & Hardware. Garry Klein of Houlihan-Lawrence represented the seller in the transaction, and the firm’s Jared Stone represented the buyer. Both parties requested anonymity.
STAMFORD, CONN. — Whole Foods Market will open a 44,648-square-foot store in Stamford, located in southern coastal Connecticut, on Thursday, Dec. 12. The space at 110 High Ridge Road previously housed a Lord & Taylor store, and the renovated space is inspired by the former store’s layout. The store will feature full-service meat and seafood counters, a bakery, prepared foods section and a wellness and beauty section, as well as a selection of more than 200 craft beers.
TEANECK, N.J. — Interstate Waste Services has signed a 30,000-square-foot office lease expansion at Glenpointe, a 670,000-square-foot, four-building mixed-use development in the Northern New Jersey community of Teaneck. The deal brings the company’s total footprint at Glenpointe to 47,545 square feet. Jeff Schotz, Dan Reider, Peter Kasparian and David Simson of Newmark represented the landlord, Alfred Sanzari Enterprises, in the lease negotiations. Andrew Zezas of Real Estate Strategies Corp. represented the tenant.