SLEEPY HOLLOW, N.Y. — Skanska USA, a division of Swedish construction company Skanska, is constructing the $32 million interior build-out of an office space for Regeneron Pharmaceuticals Inc. in Sleepy Hollow, a northern suburb of New York City. The property is located at 1 Rockwood Road. The project involves the design and construction of an approximately 60,600-square-foot space, as well as upgrades to the air distribution systems, LED lighting, ceilings, flooring and glass front offices. Construction is underway and is scheduled for completion in July 2021.
NEW YORK CITY — ABS Altman Warwick, a New York City-based division of ABS Partners Real Estate, has arranged a $29.7 million refinancing for a three-building multifamily portfolio in Upper Manhattan. The 183-unit portfolio includes a 73-unit building in Washington Heights and two buildings totaling 110 units in Hamilton Heights. Freddie Mac provided the loan at a fixed interest rate of 3.47 percent for 10 years with four years of interest-only payments. John Leslie and Patrick Rhea of ABS Altman Warwick arranged the loan on behalf of the undisclosed borrower, which has owned the portfolio since the early 2000s.
PLAINFIELD, N.J. — Gebroe-Hammer Associates has brokered the $3.2 million sale of Executive Arms Apartments, a 27-unit multifamily community in Plainfield, a southwestern suburb of New York City. Located at 309-315 W. 8th St., Executive Arms exclusively consists of 950-square-foot studios. Stephen Tragash of Gebroe-Hammer represented the seller, 315 West 8 LLC, in the transaction. Niko Nicolaou, also of Gebroe-Hammer, procured the buyer, a private unnamed investor.
NEW YORK CITY — Architecture firm Gluck+ has signed a 5,000-square-foot renewal and expansion of its office lease at the Sweets Building, a 200,000-square-foot office building at the Manhattanville Factory District, a mixed-use development in West Harlem. Gluck+ had occupied 3,600 square feet at the building, which is located at 423 W. 127th St., since 2013. The firm also led the redesign of the property, which served as a brewery before being converted to office. Janus Property Co. is the landlord of Manhattanville Factory District. Both parties were represented internally in the lease negotiations.
WEST MIFFLIN, PA. — An affiliate of Wisconsin-based developer Phoenix Investors has acquired a 625,000-square-foot industrial facility in West Mifflin, a southwestern suburb of Pittsburgh. The property is situated on 53 acres at 1200 Lebanon Road and includes approximately 15 acres of unused developable land. Originally built for Continental Can Co., the property features 24-foot clear heights and 57 loading doors. The property was approximately 70 percent leased by more than 20 tenants at the time of sale. John Jackson and Evan Cicirello of Grant Street Associates Inc., an affiliate of Cushman & Wakefield, represented the undisclosed seller in the transaction. The team also procured Phoenix Investors as the buyer. The sales price was undisclosed.
JERSEY CITY, N.J. — JLL has arranged a $41 million acquisition loan for Bela Apartments, a 104-unit luxury apartment building in Jersey City. Ares Commercial Real Estate Corp. provided the two-year, floating-rate loan to the borrower, Golden Glades Capital Management. Completed in 2019, the eight-story property features one- and two-bedroom apartments, a fitness center, yoga studio and approximately 2,600 square feet of ground-level retail. Thomas Didio and Matthew Pizzolato of JLL arranged the loan. Golden Glades acquired the property from a partnership between Alpine Development, Fields Development Group and Grade Development Co. in mid-March for $53.
NORTH BERGEN, N.J. — Imperial Dade, a Jersey City-based distributor of maintenance supplies and foodservice packaging, has signed a 28,756-square-foot office lease in North Bergen, just north of Jersey City. The space is located on the seventh floor of West Side Center, a 300,000-square-foot, Class A office property located at 5901 West Side Ave. Beginning in the fall, the office will house Imperial Dade’s executive team, as well as its finance, human resources and customer service departments. The firm’s current Jersey City facility will serve as its largest distribution center. Palestina Scrivo Properties Inc. represented Imperial Dade in the lease negotiations. Curtis Foster and Jerry Shifrin of Cushman & Wakefield represented the landlord, Real Capital Solutions.
NEW YORK CITY — Marcus & Millichap has brokered the $9.2 million sale of a vacant, five-story multifamily building in Manhattan’s Tribeca neighborhood. Located at 36 Walker St. and originally built in 1915, the asset formerly included five apartment units and offers the buyer 11,336 square feet of redevelopment opportunity. Barbara Dansker of Marcus & Millichap represented the seller, a private investor, in the transaction. Dansker also procured the buyer, an active owner and manager in New York City. No redevelopment plans were disclosed.
GREENWICH, CONN. — Lyman Real Estate has negotiated the $5.5 million sale of a retail property in Greenwich, a western suburb of Stamford. Located at 100 East Putnam Ave., the 2,581-square-foot building has been leased to M&T Bank for the last 20 years. The buyer, AFT Management LLC, plans to redevelop the property to house a larger building. Exact construction plans were undisclosed, but the new building will include space for multiple retail tenants. M&T Bank will retain the same footprint in the new building through November 2028. Jean Pierre Gagne of Lyman Real Estate represented AFT Management in the transaction. Ron Lyman, also of Lyman, represented the seller, Fried & Taylor LLC.
NEW YORK CITY — Innovo Property Group (IPG) and equity partner Square Mile Capital Management LLC have received $305 million in financing for the development of a 1 million-square-foot, two-story industrial facility in New York City’s Bronx borough. The joint venture acquired the land in 2017. Construction is underway with completion slated for first-quarter 2022. The last-mile distribution property is situated on 20 acres at 2505 Bruckner Blvd., nine miles from LaGuardia Airport, 15 miles north of John F. Kennedy International Airport and at the intersection of Interstates 95, 278 and 295. Additionally, the facility is located within 30 miles of 9.4 million people. The facility will feature 133 exterior parking spaces for trailers and box trucks as well as 664 interior parking spaces for cars and sprinter vans. The building will offer direct loading on the first and second floors, each with a 130-foot truck court. The first floor will feature 32-foot clear heights, 40-foot-by-40-foot column spacing and cross-docked loading with 74 dock doors and two drive-in doors. The second floor will be accessible to 53-foot tractor-trailers via two double-wide ramps and will feature 28-foot clear heights, 80-foot-by-80-foot column spacing, 37 loading dock doors and two drive-in doors. “As in …