Northeast

NRP Group Breaks Ground on 303-Unit Apartment Community in White Plains, New York

by Taylor Williams August 20, 2020

WHITE PLAINS, N.Y. — Multifamily developer The NRP Group, in partnership with New York-based owner RPW Group, has broken ground on a 303-unit apartment community in White Plains, located north of New York City. The property is being constructed on part of a 70-acre site that formerly housed the world headquarters of IBM, adjacent to a 620,000-square-foot office building that RPW Group owns and operates. Units will come in a mix of one-, two- and three-bedroom units, and amenities will include a pool, fitness center and small workspaces. Completion is slated for early 2022.

August 20, 2020

10-50-Charles-Street-Westwood-New-Jersey

Industrial Leasing Activity New Jersey Northeast

CBRE Negotiates Two Industrial Leases Totaling 67,137 SF in Westwood, New Jersey

by Taylor Williams August 20, 2020

WESTWOOD, N.J. — CBRE has negotiated two industrial leases totaling 67,137 square feet at a 120,000-square-foot industrial facility located at 10-50 Charles St. in Westwood, about 30 miles northwest of New York City. Mavi Jeans signed a lease to occupy 42,507 square feet, and print technology firm Digital Lizard inked a deal for 24,630 square feet. Kevin Dudley, Bill Waxman, Nick Klacik and Elli Klapper of CBRE represented the landlord, Treetop Development, in the lease negotiations. Treetop acquired the property, which features 14- to 22-foot clear heights, 127 car parking spaces and 10,000 square feet of office space, in November 2019.

August 20, 2020

Acquisitions New York Northeast Retail

Marcus & Millichap Brokers Sale of 60,896 SF Retail Asset Leased to ShopRite on Long Island

by Taylor Williams August 20, 2020

UNIONDALE, N.Y. — Marcus & Millichap has brokered the sale of a 60,896-square-foot retail asset in the Long Island city of Uniondale that is net-leased to grocer ShopRite. The sales price was $19.5 million. Barry Wolfe and Glen Kunofsky of Marcus & Millichap’s Manhattan office represented the undisclosed seller in the transaction. Brad Nathanson of Marcus & Millichap’s Institutional Property Advisors (IPA) division in Philadelphia procured the buyer. Michael Helpern and Christopher Marks in Marcus & Millichap Capital Corporation’s (MMCC) Manhattan office arranged acquisition financing for the buyer through a regional bank.

August 20, 2020

Leasing Activity New Jersey Northeast Retail

Harmony Dispensary to Open Hoboken’s First Medical Marijuana Facility

by Taylor Williams August 20, 2020

HOBOKEN, N.J. — New Jersey-based medical marijuana provider Harmony Dispensary will open the first such facility in Hoboken, located across the Hudson River from Manhattan. The dispensary will be located within a 5,000-square-foot building at 95 Hudson St. that previously housed a primary care provider. Jersey City-based Dresdner Robin, the land-use consultant for the project, has completed the revised rezoning requirements for the site. The satellite space is expected to come on line by the end of the year.

August 20, 2020

Industrial Leasing Activity New Jersey Northeast

Flemington Pickleball Club Signs 11,200 SF Industrial Lease in New Jersey

by Taylor Williams August 20, 2020

FLEMINGTON, N.J. — Flemington Pickleball Club LLC has signed an 11,200-square-foot retail lease at 19 Royal Road in Central New Jersey. According to LoopNet Inc., the property was built on 2.3 acres in 2003 and features 21-foot clear heights. Marc Shein of NAI DiLeo-Bram represented the tenant in the lease negotiations. Pickleball is a cross between tennis, ping-pong and badminton.

August 20, 2020

Northeast

Dodge: U.S. Nonresidential Construction Starts Rise 3 Percent in July, Down 25 Percent for Year

by Taylor Williams August 19, 2020

BEDFORD, MASS. — Total nonresidential construction starts across the country rose by 3 percent from June to July but remain down by 25 through the first seven months of 2020 relative to that period a year ago, according to the latest report from Massachusetts-based Dodge Data & Analytics. Among nonresidential starts, which clocked in at an aggregate value of $202.6 billion in July, development of warehouses, office and hotels such as the $377 million Hyatt Regency at Salt Lake Convention Center showed the strongest growth from June. Richard Branch, chief economist for Dodge Data & Analytics, stated that positive month-over-month gains in both residential and nonresidential starts was a reflection of gradual improvements in the economy, and cited the Northeast and West as the primary regions that drove growth in nonresidential construction.

August 19, 2020

Development Multifamily New York Northeast

Chess Builders Begins Leasing 25-Story Apartment Tower in The Bronx

by Taylor Williams August 19, 2020

NEW YORK CITY — Locally based developer Chess Builders has begun leasing The Arches, a 25-story multifamily tower located at 224-228 E. 135th St. in the Mott Haven neighborhood of The Bronx. The property features 430 apartments in studio, one- and two-bedroom formats that feature home automation, individual washers and dryers and private balconies in select units. Amenities include a screening room, coffee bar, office workspace, library lounge, fitness center, kids room and a rooftop terrace. Local brokerage firm EXR is leading the leasing effort.

August 19, 2020

Mountain-View-Terrace-Stoneham-Massachusetts

Loans Massachusetts Multifamily Northeast Seniors Housing

MassHousing Provides $32.7M Refinancing Loan for Seniors Housing Community Near Boston

by Taylor Williams August 19, 2020

STONEHAM, MASS. — MassHousing, an independent public agency that funds affordable housing properties in Massachusetts, has provided $32.7 million for the refinancing of Mountain View Terrace, a 194-unit seniors housing community in the northern Boston suburb of Stoneham. Built in 1981, the property consists of 128 one-bedroom apartments, 50 two-bedroom units, 10 three-bedroom residences and six four-bedroom apartments. The borrower was an affiliate of Atlantic Tambone Management LLC. The financing enables the property owner to extend affordability status for an additional 31 years.

August 19, 2020

Acquisitions Multifamily New Jersey Northeast

Gebroe-Hammer Brokers $19.5M Sale of Apartment Complex in East Newark, New Jersey

by Taylor Williams August 19, 2020

EAST NEWARK, N.J. — Gebroe-Hammer Associates has brokered the $19.5 million sale of St. George Harrison Apartments, a 60-unit multifamily community in East Newark. The property comprises 25 one-bedroom units and 35 two-bedroom units ranging in size from 720 to 1,184 square feet. Units are equipped with stainless steel appliances, hardwood floors and individual washers and dryers. Amenities include a resident lounge and a fitness center. Niko Nicolaou of Gebroe-Hammer represented the seller, Madison Hill Properties, in the transaction. Adam Zweibel, also with Gebroe-Hammer, procured the buyer, SELA Realty Investments.

August 19, 2020

Company News NAI New York Northeast

NAI Global Opens Bridgeway Commercial Office in Syracuse

by Taylor Williams August 19, 2020

SYRACUSE, N.Y. — NAI Global has opened a new office at 6391 Thompson Road in Syracuse that will operate under the name NAI Bridgeway Commercial and which will serve the Central and Upstate New York areas. The new commercial real estate services firm will offer a range of services, including brokerage and leasing, property and facilities management, investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. Tom Lischak, who founded Bridgeway Commercial Realty in 2014 prior to its acquisition by NAI, will lead the new office.

August 19, 2020

Newer Posts

Older Posts