Northeast

Callahan Breaks Ground on 410,000 SF Mixed-Use Development in Amesbury, Massachusetts

by Alex Patton October 1, 2019

AMESBURY, MASS. — Callahan Construction Managers has broken ground on Maples Crossing, a 410,000-square-foot mixed-use development in Amesbury, located approximately 40 miles north of Boston. Developed by Global Property Development Corp., the 70-acre entertainment and lifestyle center will be anchored by six ice hockey rinks. The Daily News of Newburyport reports that the development costs $70 million and will also include an office building, restaurant and hotel. Andrus Architecture is designing the project, which is slated for completion by the end of 2020.

October 1, 2019

Development Hospitality Massachusetts Northeast

Choice Opens 159-Room Cambria Hotel in South Boston

by Alex Patton October 1, 2019

BOSTON — Choice Hotels International Inc. has opened Cambria Hotel Boston, Downtown-South Boston, a 159-room hotel in the South Boston or “Southie” neighborhood. The hotel features a food and beverage service called Six \ West that serves breakfast, lunch and dinner in a ground-floor restaurant and extends service to a rooftop 4,000-square-foot rooftop lounge. Other amenities include a 2,400-square-foot gym, business meeting space and close access to mass transit lines. City Point Capital is developing the hotel, and Meyer Jabara will manage the property.

October 1, 2019

Acquisitions Multifamily New York Northeast

GFI Realty Brokers $7.2M Sale of Multifamily Building in Brooklyn

by Alex Patton October 1, 2019

NEW YORK CITY — GFI Realty Services LLC has brokered the $7.2 million sale of 8678 Bay Parkway, a 30-unit multifamily building in the Bath Beach neighborhood of Brooklyn. Originally constructed in 1915, the 30,960-square-foot property offers one-, two-, three- and four-bedroom units. Shlomo Antebi of GFI Realty represented the buyer, the Ragosta family. Erik Yankelovich, also with GFI Realty, represented the seller, Meridian Properties.

October 1, 2019

Loans Mixed-Use New York Northeast

JLL Arranges $386M Loan for Refinancing of Mixed-Use Tower in Manhattan

by Alex Patton September 30, 2019

NEW YORK CITY — JLL has arranged $386 million loan for the refinancing of 70 Pine Street, a 1 million-square-foot mixed-use development in Manhattan’s Financial District. Goldman Sachs provided a five-year, floating-rate loan to refinance the original construction and redevelopment loan for the property. The tower comprises 612 rental apartments, a 132-room Lyric Hotel and approximately 30,500 square feet of retail space. Tenants include Black Fox Coffee, Blue Park Kitchen, City Acres grocery store and two restaurant concepts. Christopher Peck, Geoff Goldstein and Kristen Knapp of JLL arranged the loan for the borrower, a joint venture between DTH Capital and Rose Associates. A legal team from Hunton Andrews Kurth LLP advised the joint venture in the refinancing.

September 30, 2019

Development New York Northeast

DB Main, 11 Lawton Move Forward on 800,000 SF Mixed-Use Development in New Rochelle, New York

by Alex Patton September 30, 2019

NEW ROCHELLE, N.Y. — DB Main and 11 Lawton LLC are developing 11 Lawton Street, an 800,000-square-foot mixed-use project in New Rochelle, a northern suburb of New York City. The development will comprise a residential tower offering 453 apartments and 143 condominium units, as well as a 24-story hotel with 190 rooms. The development will also include 8,102 square feet of restaurant space and 2,953 square feet of retail space. Hill West Architects is designing the project, which will incorporate the National City Bank of New Rochelle building, originally constructed in 1906.

September 30, 2019

Acquisitions New Jersey Northeast Office

Cushman & Wakefield Brokers Sale of 115,000 SF Office Building in Parsippany, New Jersey

by Alex Patton September 30, 2019

PARSIPPANY, N.J. — Cushman & Wakefield has brokered the sale of 1 Gatehall Drive, a 115,000-square-foot office building in Parsippany, located approximately 25 miles west of New York City. At the time of sale, the building was 86 percent leased to more than 20 tenants. Gary Gabriel, David Bernhaut, Andy Merin, Frank DiTommaso, Andy Schwartz, William O’Keefe and Kelsey Nakamura of Cushman & Wakefield represented the seller, a joint venture between Lincoln Property Co, and Development Ventures Group. An affiliate of Lakewood Equities purchased the asset for an undisclosed price.

September 30, 2019

Acquisitions Northeast Pennsylvania Retail

Oak Street Health Signs 8,000 SF Retail Lease in Philadelphia

by Alex Patton September 30, 2019

PHILADELPHIA — Primary care provider Oak Street Health has signed an 8,000-square-foot retail lease in Philadelphia. The property is located within Strawberry Square Shopping Center, which also includes a Rite Aid, Dollar Plus and Save-a-Lot. Scott Benson of Metro Commercial represented Oak Street in the transaction. Richard Soloff of Soloff Realty & Development represented the landlord.

September 30, 2019

Acquisitions Multifamily New Jersey Northeast

CBRE Arranges $75.3M Sale of Two Multifamily Properties Near New York City

by Alex Patton September 27, 2019

HASBROUCK HEIGHTS AND LODI, N.J. — CBRE has arranged the $75.3 million sale of Skyline Apartments and Boulevard Apartments, two multifamily properties totaling 338 units in Hasbrouck Heights and Lodi, two adjacent western suburbs of New York City. Skyline Apartments comprises 124 apartments in Hasbrouck Heights, while Boulevard Apartments comprises 214 apartments located across both Hasbrouck Heights and Lodi. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steven Bardsley, David Gavin and Eric Apfel and Nat Gambuzza of CBRE represented the seller, an investment consortium between Griffen Ltd. and Kushner Cos. The CBRE team also represented the buyer, a New York-based private investment firm.

September 27, 2019

Development Industrial New Jersey Northeast

J.G. Petrucci Nears Completion 57,000 SF Industrial Project in Hillsborough, New Jersey

by Alex Patton September 27, 2019

HILLSBOROUGH, N.J. — J.G. Petrucci Co. Inc. is nearing completion of a 57,000-square-foot industrial building in Hillsborough, located approximately 40 miles southwest of New York City. The project is build-to-suit for Permadur Industries, a manufacturer of construction equipment. The building will feature 37-foot ceiling heights and 17,000 square feet of office space, as well as 36,000 square feet of space designed for future expansion. Construction is currently underway and slated for completion by the end of 2019. The site also has the capacity to house an additional 36,000 square feet of new development.

September 27, 2019

Development Multifamily Northeast Pennsylvania

KRE Group Opens 245-Unit Multifamily Community in Willow Grove, Pennsylvania

by Alex Patton September 27, 2019

WILLOW GROVE, PA. — Kushner Real Estate (KRE) Group has opened Willow Pointe, a 245-unit multifamily community in Willow Grove, a northern suburb of Philadelphia. The property comprises three buildings with one- and two-bedroom floor plans, all of which include a patio or balcony. Amenities include a pool, resident lounge, fitness center, business center, outdoor grilling areas and resident storage space. Hudson Projects designed the community.

September 27, 2019

Newer Posts

Older Posts