Friday, April 3, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Northeast

LoansMultifamilyNew YorkNortheast

Lightstone Secures $187M Refinancing for 428-Unit ARC Multifamily Property in Long Island City

by David Cohen

NEW YORK CITY — Real estate developer Lightstone has secured a $187 million loan to refinance ARC, a 428-unit luxury rental property in the Dutch Kills section of Long Island City. Located at 30-02 39th Ave., the building offers more than 50,000 square feet of indoor and outdoor amenities and completed its initial leasing in August 2018. Amenities at the property include a fitness club, yoga studio, outdoor exercise space, basketball court and golf simulator as well as a half-acre private courtyard park, resident lounge, library, club room, game room and gourmet catering kitchen. Citibank provided the financing to Lightstone. Terms of the financing were undisclosed. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew HampshireNortheastUncategorized

CBRE Negotiates $88.5M Sale of Apartment Portfolio in New Hampshire

by David Cohen

MANCHESTER, N.H. — CBRE has negotiated the $88.5 million sale of a 640-unit apartment portfolio in Manchester. The properties include Hilltop Ridge and The Highlands at Washington Park, which were both built in the early 1980s. Biria St. John and Simon Butler of CBRE represented the sellers, Hilltop Apartments LLC and WPN Property LLC, in the transaction. The buyer was an affiliate of The DSF Group. Brian Eisendrath, Cameron Chalfant and John Kelly of CBRE’s Capital Markets team secured financing for the buyer through an agency execution. DSF plans to operate the properties as one community in order to gain operational efficiencies. Both of the buildings have new roofs, exterior siding and windows. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNew JerseyNortheast

NAI Hanson Orchestrates Sale of 3,469 SF Mixed-Use Asset in New Jersey

by David Cohen

MONTCLAIR, N.J. — NAI James Hanson has arranged the sale of a 3,469-square-foot mixed-use building in Montclair. The sales price was undisclosed. Located at 555 Bloomfield Ave. in downtown Montclair, the two-story property consists of retail and office space. The first floor of the building is fully leased to a T-Mobile franchisee. Michael Walters and Fernando Garip of NAI James Hanson represented the private seller in the transaction. The buyer was undisclosed. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityMassachusettsNortheast

HFF Brokers Sale of 130-Room Residence Inn in Tewksbury, Massachusetts

by David Cohen

TEWKSBURY, MASS. — HFF has brokered the sale of the Residence Inn Boston Tewksbury/Andover hotel in Tewksbury. The sales price was undisclosed. Located at 1775 Andover St., the 130-room hotel was completed in 1990 and comprises 10 three-story buildings. Amenities include a fitness room, car rental station, convenience store, outdoor swimming pool and business center. Daniel C. Peek, Denny Meikleham, Alan Suzuki, KC Patel and Matthew Enright of HFF represented the institutional seller in the transaction. The buyer was Sawyer Realty Holdings LLC. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMultifamilyNew YorkNortheast

Ariel Property Advisors Arranges $4.5M Sale of Apartment Building in Brooklyn

by David Cohen

NEW YORK CITY — Ariel Property Advisors has arranged the $4.5 million sale of an eight-unit apartment building in the Crown Heights neighborhood of Brooklyn. The four-story building measures 10,200 square feet and is near the Nostrand Avenue subway station, which provides access to the 2, 3 and 5 subway lines. Jonathan Berman and Michael A. Tortorici represented the undisclosed seller in the transaction. The buyer was also undisclosed. 

Continue Reading
FacebookTwitterLinkedinEmail
IndustrialMarket ReportsMassachusettsNortheastNortheast Market Reports

Boston Industrial Market Continues Hot Streak

by David Cohen

Greater Boston’s industrial market continued its hot streak in 2018. Positive net absorption of 350,000 square feet in 2018 marked the eighth straight year of gains.  Vacancies, which ended the year at 10.1 percent, have halved since peaking at the end of 2010. Over this time, the market absorbed 17.5 million square feet and is now poised for continued growth.  Tenant demand remains strong and some of the larger tenants in the market— Albertsons, Premier Distribution, Trimark, Jofran, Amazon, Wayfair, and Harte Hanks— are seeking a total of 3.5 million square feet of space.  Rents are at record highs, in aggregate topping $9.50 per square foot triple-net, which factors in a space-weighted asking rent on available product. Tenants looking for product in the Urban markets are seeing rents at or above $20 per square foot triple-net, while new product in the South and West is into the $7 per square foot triple-net range. Cheaper space can still be found, but landlords have never seen a stronger rental market. Absorption Slows  Despite the gains, absorption was held back by several large blocks of space coming onto the market throughout 2018. The closing of the Necco factory in Revere opened up more …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentNortheastOfficePennsylvaniaUncategorized

Cordish Cos. to Develop $80M Office Tower in Philadelphia

by David Cohen

CPHILADELPHIA — Comcast Spectacor and the Cordish Cos. have announced plans to develop Pattison Place, an $80 million office tower inside the Philadelphia Sports Complex. Designed by Beyer Blinder Belle and BLT Architects, the 200,000-square-foot Pattison Place will feature a 4,000-square-foot lobby with 35-foot ceiling heights and 20,000 square feet of ground-floor retail. The 12-foot floor-to-ceiling windows in the building will also provide views of the Philadelphia skyline, surrounding sports complex and neighboring Navy Yard. Pattison Place is expected to create 1,670 new jobs and generate $295 million in economic benefits to Philadelphia and Pennsylvania over a 30-year period, according to Cordish. 

Continue Reading
FacebookTwitterLinkedinEmail
HealthcareLoansNortheastPennsylvaniaUncategorized

KeyBank Provides $17.8M Refinancing for Two Healthcare Facilities in Pennsylvania

by David Cohen

YORK, PA. — KeyBank has provided a total of $17.8 million to refinance two healthcare facilities in York. The properties are Autumn House East, a five-building, 141-bed healthcare facility; and Autumn House West, a three-building, 132-bed assisted living and memory care facility. The properties were built in 1958 with renovations each decade. Patrick Shearer of KeyBank’s Commercial Mortgage Group arranged the fixed-rate loans with 30-year amortization schedules on behalf of borrower Persimmon Ventures LLC and Big Bay Ventures LLC. The facilities operate as licensed personal care homes and are leased and operated by Cardinal Senior Management LLC.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsNew JerseyNortheastUncategorized

CBRE Arranges $10.3M Sale-Leaseback of Office Property in Mahwah, New Jersey

by David Cohen

MAHWAH, N.J. — CBRE has arranged the $10.2M sale and leaseback of an office property in Mahwah. Located at 1111 Macarthur Blvd., the two-story, 140,420-square-foot building was constructed in 1979 and fully renovated in 1990. Thomas Mallaney, Randy Eigen and Conor Dolan of CBRE represented the seller, Seiko Holdings Corp. in the sale and leaseback. The buyer was 1111 MacArthur Boulevard LLC. Seiko has agreed to lease 18,400 square feet at the property. Nuance Communications, a U.S.-based multinational software technology corporation already occupies 27,317 square feet of space at the property under a long-term lease. 

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsConnecticutMixed-UseNortheast

Northeast Private Client Group Brokers $6.4M Sale of Two Mixed-Use Buildings in Connecticut

by David Cohen

NEW BRITAIN, CONN. — Northeast Private Client Group has brokered the $6.4 million sale of two mixed-use buildings in New Britain. Located at 99 W. Main St. and 160 Main St., the properties consist of a combined nine ground-floor retail suites with 30 residential units on the upper floors. The buildings are located within one block of each other. Rich Edwards and Jeff Wright in the firm’s Shelton office represented the seller, AKK Enterprises, in the transaction. The buyer was Melrose Solomon Enterprises. 

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts