CAMBRIDGE, MASS. — Urban Spaces has broken ground on Kendall East, a four-story, 136-unit, mixed-use development in the Kendall Square neighborhood of Cambridge. The project is located at 99-119 1st St., 18 Hurley St. and 29 Charles St. Designed by architectural firm Perkins Eastman, the development will also include 15,000 square feet of retail as well as 23 parking spaces. Construction is slated for completion in 2020.
NEWARK, N.J. — Marcus & Millichap has negotiated the $4.3 million sale of a 36-unit apartment building in Newark. Located at 140 Chancellor Ave., the property consists of 34 one-bedroom and two, two-bedroom units. Richard Gatto, Fahri Ozturk and Thomas Cleary of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
FAIR LAWN, N.J. — The Storage Acquisition Group has sold A Space Station Self Storage in Fair Lawn. The sales price was undisclosed. Located at 16-01 McBride Ave., the 117,885-square-foot property offers climate-controlled units, electronic gate access and video surveillance. Bill Sitar Jr. and Thomas Palumbo of Sitar Realty Co. represented the Storage Acquisition Group in the transaction. The buyer was undisclosed.
TRUMBULL, CONN. — FujiFilm North America Group has signed a 3,976-square-foot office lease in Trumbull. Located at 204 Spring Hill Road, the 40,705-square-foot building was built in 1990. Jon Angel of Angel Commercial represented the landlord, Trefoil Park Properties LLC, in the transaction. FujiFilm will relocate from an office in Norwalk.
HAMILTON, N.J. — HFF has brokered the $20.5 million sale of a 44,975-square-foot truck terminal in Hamilton. Located at 49 Thomas J. Rhodes Industrial Drive, the fully leased facility includes 101 dock-high doors and one drive-in door. Built in 2009, the property is currently occupied by YRC Freight. Jose Cruz, Marc Duval, Jordan Avanzato and Mark Mahasky represented the seller, Matrix Development Group, in the transaction. The buyer was Realterm Logistics.
PHILADELPHIA — Arbor Realty Trust has arranged a $6.4 million loan to refinance a 39-unit multifamily property in Philadelphia. Located at 1555 S. 15th St., the property was built in 2018 and includes a shared backyard as well as gourmet-style kitchens. Jared Stein of Arbor’s New York City office secured the seven-year, fixed-rate DUS loan on behalf of the undisclosed borrower. The lender was Fannie Mae. Terms of financing include two years of interest-only payments.
DANBURY, CONN. — CoastalStates Bank has provided a $6.5 million senior loan for a 48-unit assisted living community in Danbury, approximately 60 miles northeast of Manhattan. The borrower is Woodbine Senior Living. The loan will be used for the acquisition and stabilization of the 42,198-square-foot facility. Woodbine Senior Living partnered with Locust Point Capital Inc. and affiliates, which provided a $3.8 million preferred equity investment.
NEW YORK CITY — Rosewood Realty has arranged the $3.7 million sale of a four-story apartment building in the Harlem neighborhood of New York City. Located at 2032 Fifth Ave., the 6,090-square-foot property was built in 1909 and consists of eight units. Aaron Jungreis and Jonathan Brody represented the seller, Omek Capital, in the transaction. The buyer was a private investor. The townhouse sold for 14.8 times the current rent roll and at a capitalization rate of 5.4 percent.
NEW YORK CITY — Marcus & Millichap has negotiated the $1.7 million sale of a 5,000-square-foot development site in Brooklyn. The property is located at 46 Diamond St. Shaun Riney and Michael Salvatico of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
GARDEN CITY, N.Y. — HFF has brokered the $11.4 million sale of a medical office building in the Long Island village of Garden City. Located at 224 7th St., the 16,920-square-foot property was built in 1969 and converted to a medical imaging facility in 2007. The facility is currently triple-net leased to the New York University School of Medicine. HFF represented the seller, Meridian Imaging Group, in the transaction. The buyer was undisclosed. Inland Real Estate Acquisitions facilitated the transaction.
