NEW YORK CITY — Alpha Realty has arranged the sale of a mixed-use building located at 148 E. 98th St. in Manhattan’s Upper East Side. The asset sold for $6.6 million. The six-story, elevator-serviced property features 11 apartment units and a first-floor office space. Glenn Raff of Alpha Realty represented the seller and buyer in the transaction. The names of the buyer and seller were not released.
TAMPA, FLA. — The Altman Cos. has sold Altis Highland Park, a mixed-use apartment development in Tampa’s Westchase district, for $46 million. Located at 11571 Fountainhead Drive, the development comprises 239 apartment residences and 5,000 square feet of retail space. Utah-based Cottonwood Residential purchased the asset from The Altman Cos., which developed the project in 2014. Altís Highland Park offers studio, one-, two- and three-bedroom floorplans with average monthly rents ranging from $1,193 to $2,028. Community amenities include a poolside lounge with a demonstration kitchen and fireplace, 24/7 club-class fitness center, yoga and aerobics studio with on-demand virtual fitness programs, game center, dog park and private community garden. The main street of Altís Highland Park includes Kahwa Coffee and a self-service auto detail facility. Volume Hair Studio will move in later this year.
NEW YORK CITY — Besen & Associates has brokered the sale of an elevator-served mixed-use building located at 2195 Adam Clayton Powell Blvd. in Manhattan’s Central Harlem neighborhood. The asset sold for $2 million, or $347 per square foot. Built in 1910, the vacant five-story, 5,758-square-foot property features six apartments and one retail unit. Hilly Soleiman of Besen & Associates represented the buyer and seller in the transaction. The names of the buyer and seller were not released.
CEDAR PARK, TEXAS – Riverside Resources has begun construction on the first phase of a 100-acre mixed use campus on Parmer Lane in Cedar Park. The first phase of the campus, called Presidio, will feature 74,000 square feet of office space, a 100-room hotel, 320 urban lofts and 21,000 square feet of retail/restaurant space. The initial phase spans 26 acres off the southeast corner of Parmer Lane and Ranch Trails Court. The remaining 74 acres is on the other side of Ranch Trails Court. Presidio will be able to accommodate an office campus with upwards of 500,000 square feet, along with additional lofts, retail and restaurant space. The design’s intent is to bring a more urban, walkable mixed-use campus to Parmer Lane and Cedar Park, with a trail system, local restaurants, a park and a food trailer court. The Phase I office building has been 50 percent pre-leased to American Constructors and will be ready for occupancy in the fall of 2016. In early 2016, Riverside Resources will also move ahead with the other components of the first phase, including a 21,000-square-foot restaurant and retail component it’s developing in partnership with Chris Whitworth and Mauricio Gonzalez Kane of Cordova Real …
CHARLOTTE, N.C. — Crescent Communities is developing a transit-oriented, mixed-use development in Charlotte’s NoDa (North Davidson Arts and Entertainment) district called Crescent NoDa. The project will be located at the planned 36th Street Lynx Blue Line light rail station. Crescent Communities plans to begin construction this month on Crescent NoDa and open the project in 2017, in line with the opening of the city’s light rail extension. Crescent NoDa will feature 344 apartment residences, 7,500 square feet of street-level retail space, an extended platform for the light rail stop, an open plaza, above-ground parking deck and an adjacent commercial parcel, which could include a mixed-use development with up to eight stories in height and 28,000 square feet of additional street-level retail space. Communities amenities will include an outdoor terrace, dog wash station, resident workshop, clubroom, fitness center and private courtyards with a pool, grilling area, green space and fire pits. The project team includes architect Lord Aeck Sargent, landscape architect Land Design and interior designer Vignette Interior Design. Crescent NoDa will be financed with an equity investment by Crescent Communities and debt from Synovus Bank and Citizens Bank. Crescent Communities worked with the NoDa Neighborhood and Business Association in planning …
NEW YORK CITY — Besen & Associates has brokered the sale of a mixed-use property located at 957 Utica Ave. in Brooklyn’s East Flatbush neighborhood. A private investor acquired the property for $5.1 million. Built in 2007, the three-story property features 18 apartment units in a mix of studio, one-, two- and three-bedroom units; 6,000 square feet of retail spaces; and a 26-space gated parking lot. The property features a 421-A tax exemption in place, which expires in June 2023. Greg Corbin and Miguel Jauregui of Besen & Associates, along with former Besen broker Jacob Aronov, represented the seller and procured the buyer in the transaction.
NEW YORK CITY — Ariel Property Advisors has brokered the sale of a 50-foot wide vacant lot at 1655 Madison Ave. in Manhattan’s East Harlem neighborhood. The property sold for $7 million, or $391 per buildable square foot. The site is zoned R7-2/C1-5, which provides as-of-right approximately 17,887 buildable square feet for mixed-use development or 24,375 buildable square feet with the inclusion of a community facility bonus. Victor Sozio, Shimon Shkury, Michael Tortorici, Matthew Gillis and Josh Berkowitz of Ariel Property Advisors represented the seller, a private investor, while Michelle Abramov of Highcap Group represented the buyers, a private group of international investors, in the transaction.
MINNEAPOLIS — Marcus & Millichap has brokered the sale of a mixed-use property in Minneapolis for $5.8 million. The Alden consists of 68 apartment units and two levels of office space that total 10,000 square feet. The property, located at 1201 Hawthorne Ave. W., was originally built in 1925 as a hotel. The building was renovated in 1990 and now features 52 studio apartments ranging from 235 square feet to 418 square feet and 16 one-bedroom units ranging from 457 square feet to 657 square feet. Mox Gunderson and Dan Linnell of Marcus & Millichap secured and represented the buyer, an undisclosed partnership that plans on updating the building. The duo, along with Marcus & Millichap’s Josh Talberg, also listed the property on behalf of the seller, an undisclosed partnership.
LEWISVILLE, TEXAS — Bright Realty has held a topping out ceremony for its upcoming multifamily project known as Discovery at The Realm. The first of Discovery at The Realm’s 423 apartment units are on track to deliver in April. The topping out party celebrated the completion of the three apartment buildings’ major structural and environmental construction, which includes a lake with promenade pedestrian access. Members of Bright Realty development, leasing and marketing teams, general contractor Andres Construction, project architects from Charlotte, N.C.’s LandDesign, local officials and Bright Realty’s business partners attended the celebration. Bright Realty begins pre-leasing activities for Discovery at The Realm later this month as interior finish work begins. Located south of Windhaven Parkway at Castle Hills Drive in Lewisville, Discovery at The Realm’s first phase features three podium-style buildings on 20.4 acres. All Phase I units should be delivered by October. Total project costs are $75 million. Discovery at The Realm is the first project in The Realm at Castle Hills, a mixed-use project to be built along State Highway 121 frontage. At completion, Discovery at The Realm will include more than 4,000 apartment units, with another 800 units planned within other parts of The Realm at …
CHARLOTTE, N.C. — Crescent Communities has broken ground on a transit-oriented development at Lynx Light Rail’s Stonewall Station that will be anchored by Uptown Charlotte’s first Whole Foods Market. The mixed-use development will feature the 47,000-square-foot Whole Foods store, 459 luxury apartment residences and a parking deck. Expected to open in 2017, the development will span 5.4 acres and feature a public plaza that will offer food carts and gathering spaces for social events. Community amenities will include a heated, invisible-edge saltwater pool, fitness center, sky lounge, picnic areas and a rooftop dog park. Unit interiors will feature granite or quartz countertops, stainless steel appliances, faux-wood flooring, designer lighting fixtures and USB outlets for connectivity. Crescent Stonewall Station’s financing includes an equity investment by Crescent Communities and the Melissaris family, as well as construction debt provided by JP Morgan Chase and Emigrant Realty Finance. The design team includes architect The Preston Partnership, interior designer Vignette Interior Design, civil engineer and landscape architect LandDesign and general contractor Whiting-Turner.
