NEW CITY, N.Y. — Capitol Seniors Housing has started construction of Atria New City, an assisted living and memory care community in the affluent hamlet of New City in Clarkstown. Located approximately 30 miles north of Manhattan, the $30 million, three-story, 70,000-square-foot community features 80 residential suites. Atria Senior Living is the operator. Atria New City is scheduled to open in the first quarter of 2020. Meyer Senior Living Studio designed the community. Capitol Seniors Housing also is constructing Stonegate at Greenburgh, an assisted living and memory care community in nearby Greenburgh.
NEW YORK CITY — Lee & Associates has arranged the $11.5 million sale of a 25,473-square-foot development site in the Astoria neighborhood of Queens. Located at 26-24 and 26-26 4th St., the property consists of two lots, which are zoned residential. One of the lots features a 20,000-square-foot warehouse. The properties allow for a total of 67,982 buildable square feet. Alfonso Holloman of Lee & Associates represented the buyer, Bruman Realty, and the undisclosed seller, in the transaction.
BURLINGTON TOWNSHIP, N.J. — NAI Mertz has brokered the sale of a 46,000-square-foot warehouse in Burlington Township. The price was not disclosed. Located at 308 Connecticut Drive, the property features 21-foot clear heights and is situated alongside Interstate 295. Jonathan Klear of NAI Mertz represented the buyer, Burton Real Estate, in the transaction. The seller, Merchant & Evans Industries, will remain as a tenant in the building.
NEW YORK CITY — Marcus & Millichap has negotiated the $1.2 million sale of a 3,500-square-foot mixed-use building in Brooklyn. The property is located at 1001 39th St. John Brennan and Samuel Finkler of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
SHARON, MASS. — Precision components manufacturer Senior Metal Bellows and construction management firm Dacon have broken ground on a two-story, 47,000-square-foot flex facility in Sharon. The property is an addition to an existing 65,000-square-foot facility at 1075 Boston Providence Highway in Sharon. The project consists of 25,700 square feet of manufacturing space on the first floor with 21,300 square feet of office space on the second floor. The expansion is Senior Metal Bellows’ sixth in the last 50 years due to growth in innovative capabilities, implementation of next-generation machinery and streamlining of operations. Norwood Engineering is the civil engineering firm of record. William Jackson of William Jackson Associates Inc. is serving as project manager. The project is slated for occupancy this summer.
NEW YORK CITY — Cushman & Wakefield has arranged the $7.1 million sale of a 13-unit luxury apartment building in Queens. Located at 23-23 Astoria Blvd., the seven-story, 13,568-square-foot property consists of 12 one-bedroom apartments and one three-bedroom apartment. The building also features seven parking spaces, a laundry room and a common rooftop deck. Stephen R. Preuss represented the seller, an ownership group of Tinaandrew, Ballis, Juuj Realty and Theopan Properties LLC. The buyer was J & N Development.
LONG ISLAND CITY, N.Y. — Marcus & Millichap has negotiated the $6.4 million sale of a 2,700-square-foot development site in Long Island City. Located at 45-24 Pearson St., the property can accommodate 13,500 buildable square feet. The sale set a local record of $300 per buildable square foot, according to Marcus & Millichap. Jakub Nowak and Jonathan Eshaghian of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
BRANFORD, CONN. — The Geenty Group has brokered the $2.6 million sale of two office buildings in Branford. Located at 21 and 23 Business Park Drive, the properties total approximately 72,000 square feet. 21 Business Park Drive is a multi-tenant flex building while 23 Business Park Drive comprises multiple office and laboratory spaces. Kristin Geenty of the Geenty Group represented the seller, Todd’s Hill Investment Circle LLC, in the transaction. The buyer was Corner Properties LLC.
NEW YORK CITY — GFI Realty Services has arranged the $1.9 million sale of a four-unit multifamily building in the Ridgewood section of Queens. Located at 503 Grandview Ave., the two-story property was built in 1921 and includes two three-bedroom apartments and two four-bedroom apartments. The property was recently fully renovated. Yehoshua Shamel of GFI represented the seller and buyer in the transaction, both local investors.
PHILADELPHIA — Equity Commonwealth (NYSE: EQC) is under contract to sell BNY Mellon Bank Center, a 55-story, 1.3 million-square-foot office building located at 1735 Market St. in downtown Philadelphia. The price is $451.6 million. The buyer was undisclosed, though multiple media outlets report that a partnership between New York-based Silverstein Properties Inc. and Philadelphia-based Arden Group is acquiring the building. Proceeds after credits for capital costs, contractual lease costs, and rent abatements are expected to be approximately $435.6 million. The sale is slated to close by March 27. The asset is the fourth-largest building in Philadelphia. Amenities include The Lounge at 1735, a 19,000-square-foot space offering a 100-person classroom-style conference facility, fireplaces, wine lockers and TVs; Pyramid Club, a lounge on the 52nd floor offering a 360-degree view of Philadelphia, a bistro bar and a sit-down restaurant; the Philadelphia Sports Club, a 25,000-square-foot, two-story fitness center offering a sauna, rowing machine, group fitness classes, and massage therapy; and covered bike parking. BNY Mellon Bank Center was built in 1990 and designed by Kohn Pedersen Fox Associates. The building is situated less than a mile from Philadelphia City Hall and Logan Square, and less than two miles from the Liberty Bell. Chicago-based …