Northeast

NewAge Industries Acquires 46,618 SF Industrial Property in Warrington, Pennsylvania

by Alex Patton May 28, 2020

WARRINGTON, PA. — NewAge Industries Inc., a hose supplier headquartered in Southampton, Pennsylvania, has acquired a 46,618-square-foot industrial property in the northern Philadelphia suburb of Warrington. The one-story property is part of an industrial park located at 364 Valley Road. The property features 20-foot clear heights, five tailgate loading doors and approximately 3,000 square feet of office space. Andrew McGhee of Colliers International represented NewAge Industries in the transaction. Sean Durkin of Roddy Inc. represented the seller, 364 Valley Road LP

May 28, 2020

Acquisitions Connecticut Northeast Retail

Press | Cuozzo Brokers Sale of 7,800 SF Retail Building in Milford, Connecticut

by Alex Patton May 28, 2020

MILFORD, CONN. — Press | Cuozzo Commercial Services has brokered the sale of a retail building in Milford, a western suburb of New Haven. Located at 135 Cherry St., the property is part of Milford Plaza, a 182,000-square-foot shopping center. Amity Physical Therapy will lease the building for its fourth store. Stephen Press of Press | Cuozzo represented the seller, Hale Properties LLC, in the transaction. Press also procured the buyer, Dow Enterprises LLC. The sales price was undisclosed.

May 28, 2020

Leasing Activity New York Northeast Office

Hickory Lane Capital Management Signs 2,100 SF Office Lease in Manhattan

by Alex Patton May 28, 2020

NEW YORK CITY — Hickory Lane Capital Management has signed a 2,100-square-foot office lease for its new headquarters in Manhattan’s Garment District. The firm signed a three-year lease for space on the seventh floor of an office building located at 530 Seventh Ave. The building features a 30,000-square-foot co-working space, which serves as an amenity to all tenants and offers additional office spaces and conference rooms. Brian Neugeboren, Nicole Goetz and Alicia Parente of Savitt Partners represented the undisclosed landlord. Christina Combias of Voro Real Estate represented Hickory Lane.

May 28, 2020

Acquisitions New York Northeast Office

Habib American Bank Acquires Office Building in Manhattan for $28.2M

by Alex Patton May 27, 2020

NEW YORK CITY — Habib American Bank has acquired the Lord Memorial Building, a 32,270-square-foot office building in the Midtown East neighborhood of Manhattan, for $28.2 million. Located at 150 E. 45th St., the property includes approximately 5,168 square feet of retail space on the ground floor and 27,102 square feet of office space on the second through seventh floors. The building was constructed in 1950 for the seller, Children’s Aid Society, and later extended to seven stories in the mid-1960s. Children’s Aid occupied the building at the time of sale but will now vacate its space. Jonata Dayan of Co-op & Condo Sales and Brett Weiss of HSP Real Estate Group represented Habib in the transaction. Bob Knakal, Jonathan Hageman and Clint Olsen led a JLL team that represented Children’s Aid Society.

May 27, 2020

Development Multifamily New York Northeast

Home Street Partners Completes 63-unit Multifamily Building in The Bronx

by Alex Patton May 27, 2020

NEW YORK CITY — Home Street Partners, a New York-based developer, has completed construction of Home Street Residences, a 63-unit multifamily building in the Foxhurst neighborhood of The Bronx. The 75,000-square-foot building is located at 1017 Home St., and 30 percent of the units are reserved for homeless seniors. Residences average 550 square feet. Body Lawson Associates designed the property, and Bronx Pro Group is the operator. Approximately 50,000 people have already applied for an apartment, according to Body Lawson Associates.

May 27, 2020

Loans Multifamily New York Northeast Seniors Housing

Greystone Provides $8.6M Construction Loan for Seniors Housing Community Near Buffalo

by Alex Patton May 27, 2020

CLARENCE CENTER, N.Y. — Greystone has provided an $8.6 million construction loan for the expansion of Bristol Village, an 84-unit, 110-bed seniors housing community in Clarence Center, located approximately 20 miles northeast of Buffalo. The fixed-rate loan will fund the construction of 23,000 square feet of residential and community spaces, which will include 32 additional beds. The loan will convert to permanent financing when the expansion project is completed and will run concurrent with the property’s existing HUD-insured loan, which Greystone originated in 2011. The facility was originally constructed in 2003. Lisa Fischman of Greystone arranged the loan.

May 27, 2020

Acquisitions New Jersey Northeast Office Retail

NAI DiLeo-Bram Brokers Sale of 7,690 SF Retail, Office Property in Roselle, New Jersey

by Alex Patton May 27, 2020

ROSELLE, N.J. — NAI DiLeo-Bram & Co., has brokered the sale of a 7,690-square-foot retail and office property in Roselle, a southwestern suburb of New York City. Located at 111-117 West Second Ave., the property offers convenient access to the Garden State Parkway and the Roselle Park transit station. The building was leased to three retail tenants and one office tenant at the time of sale, and the new buyer plans to reposition the building for residential use. Marc Shein and Matthew DiLeo of NAI DiLeo-Bram represented the seller and procured the buyer in the transaction. Both parties were undisclosed.

May 27, 2020

Leasing Activity New Jersey Northeast Office

NAI James Hanson Negotiates 3,000 SF Office Lease in Rutherford, New Jersey

by Alex Patton May 27, 2020

RUTHERFORD, N.J. — NAI James Hanson has negotiated a 3,000-square-foot office lease for janitorial service provider Adamas Building Services LLC in Rutherford, a northwestern suburb of New York City. The space is located at 75 Orient Way, a 23,501-square-foot office building, and offers convenient access to the Garden State Parkway and the New Jersey Turnpike. The tenant is relocating from its previous office in Newark. Darren Lizzack and Randy Horning of NAI James Hanson represented the landlord, 75 Orient Way LLC, in the lease negotiations.

May 27, 2020

Development Mixed-Use New York Northeast

Charney Cos., Tavros Open 350,000 SF Mixed-Use Tower in Brooklyn

by Alex Patton May 26, 2020

NEW YORK CITY — A joint venture between Charney Cos. and Tavros Holdings has opened The Dime, a 350,000-square-foot mixed-use tower in the South Williamsburg neighborhood of Brooklyn. Located at 275 S. 5th St., the building features 177 luxury studio, one-, two- and three-bedroom apartments, as well as 100,000 square feet of office space and 50,000 square feet of ground-floor retail space. Multifamily rental prices start at $3,000 per month for studios and more than $7,000 per month for three-bedroom units. The 23-story tower incorporates the Dime Savings Bank building, which was originally constructed in 1908. Amenities include an acre of outdoor space with a community garden and basketball court, a fitness center, resident lounge and business center. MetroRock leases a 10,000-square-foot rock climbing gym on the ground floor. Fogarty Finger Architecture designed the building.

May 26, 2020

Loans Massachusetts Multifamily Northeast

Arbor Realty Trust Provides $59M Fannie Mae Loan for Refinancing of Multifamily Property in Metro Boston

by Alex Patton May 26, 2020

CHELSEA, MASS. — Arbor Realty Trust has provided a $59 million Fannie Mae loan for the refinancing of One North of Boston II, a 222-unit multifamily property located in the northern Boston suburb of Chelsea. Arbor provided the 10-year, fixed-rate loan to a joint venture between locally based firms Redgate Capital Partners LLC and TransDel Corp. Located at 150 Heard St., the six-story property totals 182,581 net rentable square feet and features two studio apartments, 161 one-bedroom, 44 two-bedroom and 15 three-bedroom units. The property, which is Phase II of the One North Boston project, was constructed in 2016. Jeff Black, Kevin Phelan, Sean Burke and Bryan Koop of Colliers International originated the loan.

May 26, 2020

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