Northeast

HFF Brokers $11.4M Sale of Medical Office Building on Long Island

by David Cohen March 22, 2019

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.

March 22, 2019

Development Massachusetts Multifamily Northeast

SilverBrick Group Completes Renovation of 99-Unit Multifamily Property in Massachusetts

by David Cohen March 22, 2019

SPRINGFIELD, MASS. — The SilverBrick Group has completed the renovation of SilverBrick Square in Springfield. Located at 122 Chestnut St., the 120,000-square-foot building is a former YMCA property. The newly renovated, 99-unit apartment community now includes new finishes in units and common areas as well as a new fitness center. Emerald Creek Capital provided an $8 million bridge loan to SilverBrick Group for the renovations. Terms of the loan were not disclosed.

March 22, 2019

Acquisitions Multifamily New Jersey Northeast

Marcus & Millichap Negotiates $2.6M Sale of Apartment Community in Newark

by David Cohen March 22, 2019

NEWARK, N.J. — Marcus & Millichap has negotiated the $2.6 million sale of a two-building apartment community in Newark. Located at 101 Treacy Ave. and 491 Clinton Ave., the two buildings consist of 35 units and three commercial spaces. Richard Gatto, Fahri Ozturk and Thomas Cleary in Marcus & Millichap’s New Jersey office represented the undisclosed seller in the transaction. The buyer was undisclosed.

March 22, 2019

Acquisitions Industrial Northeast Rhode Island

Sweeney Real Estate Orchestrates $1M Sale of Industrial Facility in Providence

by David Cohen March 22, 2019

PROVIDENCE, R.I. — Sweeney Real Estate has arranged the $1 million sale of an industrial facility in Providence. Located at 382-420 and 780 Harris Ave., the 21,649-square-foot property is located on nearly one acre. Thomas Sweeney, of Sweeney Real Estate represented the buyer, Partial Research Group LLC, in the transaction. Jim DeRentis of Residential Properties represented the seller, Bone House LLC.

March 22, 2019

Acquisitions Loans Massachusetts Northeast Retail

Cornerstone Realty Capital Arranges $2.7M Acquisition Loan for Retail Building in Massachusetts

by David Cohen March 22, 2019

MARLBOROUGH, MASS. — Cornerstone Realty Capital has arranged a $2.7 million acquisition loan for a 12,980-square-foot retail building in Marlborough. Located in Middlesex County, the property currently houses four tenants with Starbucks as its anchor. Spaces at the property range from 1,500 to 7,466 square feet. Cornerstone delivered a fixed-rate financing structure with a 30-year amortization schedule to the undisclosed borrower. The lender was a local community bank.

March 22, 2019

Acquisitions New Jersey Northeast Office

HFF Brokers $66M Sale of Office Building in Parsippany, New Jersey

by David Cohen March 21, 2019

PARSIPPANY, N.J. — HFF has brokered the $66 million sale of an office building in Parsippany. Located at 300 Kimball Drive, the five-story property was originally built in 2001 and is LEED Silver certified. The building is currently 78 percent occupied by a tenant roster that includes FM Global, Fiserv, Langan Engineering and Western World Insurance. Kevin O’Hearn, Jose Cruz, Stephen Simonelli and Michael Oliver represented the seller, a large national insurance company, in the transaction. The buyer was a private investor.

March 21, 2019

Acquisitions Massachusetts Multifamily Northeast

CBRE Arranges Sale of 298-Unit Apartment Community in Massachusetts

by David Cohen March 21, 2019

STONEHAM, MASS. — CBRE has arranged the sale of Mave Apartments, a 298-unit apartment community in Stoneham. The sales price was undisclosed. The community opened in 2017 and completed construction in 2018. Amenities include a clubhouse, pool, fitness center, outdoor pavilion area and numerous grilling stations. Simon Butler and Biria St. John of CBRE represented the seller, Fairfield Stoneham Limited Partnership, in the transaction. The buyer was Stoneham Mave LLC.

March 21, 2019

Connecticut Leasing Activity Northeast Office

WWE Signs 415,000 SF Headquarters Lease in Stamford, Connecticut

by David Cohen March 21, 2019

STAMFORD, CONN. — Media and entertainment company WWE has signed a 415,000-square-foot office lease in Stamford. Located at 677 Washington Blvd., the three-building complex will serve as the new global headquarters for WWE. Drew Saunders, Robert Ageloff, Allison Melichar and Joe Messina of JLL represented WWE in securing the lease with property owners George Comfort & Sons and AVG Partners. Additional tenants at the 12-acre property include KPMG and Perkins Eastman.

March 21, 2019

Loans New York Northeast Office

Cronheim Arranges $5M Refinancing for Office Building in Manhattan

by David Cohen March 21, 2019

NEW YORK CITY — Cronheim Mortgage has arranged a $5 million loan to refinance a 12-story office building in Midtown, Manhattan. Located at 32 E. 31st St., the 52,000-square-foot property also includes ground-floor retail. The tenant roster includes a fitness studio, hair salon, media company and real estate developer. Cronheim secured a 20-year loan amortized over 30 years on behalf of the borrower, 32 E. 31 Street Corp. The lender was CMFG Life Insurance Co.

March 21, 2019

Acquisitions Mixed-Use New York Northeast

Marcus & Millichap Negotiates $2.4M Sale of Mixed-Use Building in Brooklyn

by David Cohen March 21, 2019

NEW YORK CITY — Marcus & Millichap has negotiated the $2.4 million sale of a 4,750-square foot mixed-use property in Brooklyn. Located at 358 Knickerbocker Ave., the property was built in 1931. Shaun Riney and Thomas Shihadeh of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.

March 21, 2019

Newer Posts

Older Posts