NEW YORK CITY — Brax Realty has brokered the $6.6 million sale of an apartment building in the Hell’s Kitchen neighborhood of Manhattan. Located at 439 W. 46th St., the 9,390-square-foot property contains 20 apartments and has an additional 6,527 square feet of air rights available. Alan Stenson of Brax Realty represented the seller, Peter Gonedes, in the transaction. The buyer was a private international investor.
PITTSBURGH — CBRE has arranged a 112,481-square-foot, full-building office lease at Park Place Corporate Center Two in Pittsburgh on behalf of the owner, FAC Park Place Two LLC. Located at 2000 Commerce Drive, the property was fully renovated in 2010. Nick Francic of JLL represented the tenant, energy company Williams Field Services Group, in the transaction.
NEW YORK CITY — Hodges Ward Elliot has brokered the $88 million sale of two multifamily buildings in the Bronx. The 10-story properties span a combined 400,000 square feet and are located at 2001-2045 Story Ave. in the Castle Hill section of the Bronx. Daniel Parker, Paul Gillen and Ariel Tambor of Hodges Ward Elliot represented the seller, Related Fund Management, in the transaction. The buyer was Abraham Fruchthandler.
NEW YORK CITY — Madison Realty Capital and Bluestone Group have provided a $32 million loan to refinance a mixed-use rental property in Brooklyn. Located at 271 Lenox Road, the 15-story property includes 55 rental units, 9,000 square feet of ground-floor commercial space and a parking garage. Madison Realty Capital provided a $28 million first mortgage loan to borrower, New York City-based real estate development firm Hello Living, and arranged a $4 million mezzanine loan from Bluestone Group. Terms of the financing were not disclosed.
NEW YORK CITY — Cushman & Wakefield has arranged the $10.8 million sale of an 8,076-square-foot mixed-use building in the NoLita neighborhood of Manhattan. Located at 51 Spring St., the six-story property is comprised of 15 residential apartments and two retail spaces. The retail component of the space is currently leased to two restaurants through December 2021. Robert Burton, Robert Shapiro, Bobby Carrozzo and Jordan Sutton of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was a partnership between Javeri Capital and DNA Development.
ACTON, MASS. — SVN | Parsons Commercial has negotiated the sale of a two-story retail strip center in Acton. The sales price was undisclosed. Located at 452 Great Road, the property sits on nearly two acres of land. The buyer, Surfloft LLC, will occupy a portion of the building, which will be the new site for its retail store, Surfside Pools and Sport Loft Ski Shop. Marci Alvarado and Jake Parsons ofSVN | Parsons Commercial represented Surfloft LLC in the transaction. Avison Young represented the seller, Worker’s Credit Union.
GREENSBURG, PA. — Marcus & Millichap has arranged the $1 million sale of a 2,160-square-foot net-leased retail property in Greensburg. Located at 800 E. Pittsburgh St., the property is occupied by KeyBank. Jeremie Johnson and Nathan D. Whalen of Marcus & Millichap’s Indianapolis office represented the seller, a private investor, in the transaction. The buyer was a local investor.
SOMERS POINT, N.J. — Berkadia has provided an $18.5 million loan to refinance Bayview Court, a 202-unit apartment community in Somers Point. Located at 555 Shore Road, the property was built in the 1960s. Jim Badolato of Berkadia’s Philadelphia office arranged the financing for the borrower, The Streamwood Co. Terms of the Freddie Mac loan included an 11-year fixed rate term under the lease-up program, which enables borrowers to lock in a rate and fund a loan before the collateral is fully stabilized. The Freddie Mac Optigo loan offers an 11-year fixed rate term under the lease-up program, which enables borrowers to lock in a rate and fund a loan before the collateral is fully stabilized. The property was 75 percent occupied at closing with steady leasing velocity.
STONEHAM, MASS. — Wood Partners has begun construction of Langwood Commons, a 261-unit multifamily community in Stoneham. The three-building community is scheduled to open in March 2020. The site is located adjacent to the 2,200-acre Middlesex Fells Reservation, known locally as The Fells, a year-round outdoor space that provides outlets for hiking and biking. Wood Partners broke ground on the project in November 2018. It is the company’s 12th project in the greater Boston area.
FLORHAM PARK, N.J. — Commercial-stage cell therapeutics company Celularity has signed a full-building, 147,215-square-foot office lease in Florham Park. The property is part of a two-building office campus at 170-180 Park Ave. that totals 368,780 square feet. The lease marks the largest new office lease in New Jersey for the first quarter of 2019. James Postell, Matt McDonough and Dan Ligorner of Transwestern Commercial Services represented the building owner in the transaction. Charlie Hatfield and Ryan Healy of Colliers International represented Celularity in the transaction.
