NEW YORK CITY — A six-story, mixed-use building in Manhattan has sold for $8.1 million to 281 St. Nicholas Partners. The 50,706-square-foot property, which is located at 281 St. Nicholas Ave., was built in 1921 and has 32 apartments and six stores. Cignature Realty Associates represented 281 St. Nicholas Partners and the seller, Harrjoy Realty Corp, in this deal.
BROOKLYN, N.Y. — Ideal Development has purchased 442 Grand St., a 15,000-square-foot development site in Brooklyn for $4.2 million. Ideal plans to develop rental apartments on the site, a former gas station, which offers 45,000 square feet in buildable space. The building is also slated to have ground-floor retail. James Dari and Fred Rufrano of locally based Kalmon Dolgin Affiliates represented Ideal and the seller, Keap Grand LLC, in the deal.
WICHITA, KAN. — Locally based Occidental Management has acquired the historic Union Station campus in Wichita. While the purchase price was not disclosed, the list price for the property was $6.5 million. The 9.5-acre sit includes four buildings — two are listed on the National Historic Registry— totaling more than 111,000 square feet. NAI Martens represented the seller, Cox Communications in the deal. Occidental plans to convert the building to mixed-use including restaurant, retail and office spaces. Union Station is located in downtown Wichita, between the Old Town Entertainment District and the 15,000-seat INTRUST Bank Arena.
PLANO, TEXAS — Cencor Realty Services is under way with the construction of West Plano Village, a mixed-use project located at the northeast corner of the Dallas North Tollway and Parker Road in Plano. The development will include 90,000 square feet of retail and restaurant space, 60,000 square feet of second-floor office space and 245 residential units. A 10,000-square-foot eatZi's Market & Bakery will anchor the retail portion of the development, along with the existing Cinemark West Plano and XD theater. AMLI Residential will develop the multifamily component of West Plano Village in a four-story configuration. Michelle Caplan and Earl Harris of The Weitzman Group are handling the leasing of the retail portion, while Chrystal Morgan of Weitzman is handling office leasing. The apartment community is slated for a summer 2014 opening, while the retail and office space will open in the fall of 2014. David Palmer of Cencor is directing the development of the mixed-use development, and Dallas-based Hodges & Associates is designing the retail and office components.
DALLAS — Dallas-based Harwood International, a global real estate developer and investor, plans to break ground on District 1444: The Design Village, a mixed-use village located at the southeast corner of Dragon Street and Oak Lawn Avenue in the Dallas Design District. District 1444 will feature 224 apartment units, a rooftop junior Olympic pool with cabanas, views of the Dallas skyline, a fitness center, fire pits, game room, gardens and more than 46,000 square feet of retail space. An architectural team led by Laura Lleal and Ben Cortez of Harwood Design Factory LLC is designing the property. Harwood has signed three of the five restaurant spaces to lease deals and will break ground on the development in the spring. The Dallas Design District began as a post World War II collection of warehouses and has since transformed into a mixed-use residential district.
NEW YORK CITY — A mixed-use building at 46 South Park Place, located between Dumont Place and South Street in Morristown, has sold for $1.3 million. The 5,450-square-foot building consists of two commercial units and two residential units. The property is located near the Morristown NJ Transit train station, as well as the local hospital and municipal buildings. Bob Knakal and Kobi Leifer of Massey Knakal represented both parties in the transaction.
LOS ANGELES — Milano Lofts, a 131,433-square-foot, mixed-use facility in Downtown Los Angeles, has sold to Equity Residential for an undisclosed sum. The Art Deco-style community is located at 609 S. Grand Ave. It contains 99 luxury residential units atop more than 6,000 square feet of ground-floor retail space. The space is occupied by Industriel and Yorkshire Grill restaurants. Milano was fully occupied at the time of sale. Janet Neman and Bryan Glenn of Charles Dunn Company represented both the buyer and the seller, Grand Pacific Lofts, LP, in this off-market transaction.
LOS ANGELES — Milano Lofts, a 131,433-square-foot, mixed-use facility in Downtown Los Angeles, has sold to Equity Residential for an undisclosed sum. The Art Deco-style community is located at 609 S. Grand Ave. It contains 99 luxury residential units atop more than 6,000 square feet of ground-floor retail space. The space is occupied by Industriel and Yorkshire Grill restaurants. Milano was fully occupied at the time of sale. Janet Neman and Bryan Glenn of Charles Dunn Company represented both the buyer and the seller, Grand Pacific Lofts, LP, in this off-market transaction.
WASHINGTON, D.C. — First Potomac Realty Trust, an owner of office and industrial properties in the Washington, D.C., area, and its development partner Perseus Realty LLC have named the development and leasing teams for Storey Park, a mixed-use project at 1005 First St. N.E. in Washington, D.C. The development is situated on a former Greyhound Bus Terminal and is being designed by HKS Architects. The broker teams contributing to the project are Doug Mueller and Evan Behr of Jones Lang LaSalle, Lisa Stoddard and Kristen Braun of CBRE, and Joe Delogu, David Alperstein and Eugene Smith of FD Stonewater. The project will include 65,000 square feet of retail space including restaurants, shops and boutique retailers. Storey Park will be situated in the heart of the NoMa district and will provide access to Union Station, Capitol Hill, the East End and downtown Washington, D.C.
CHICAGO — Essex Realty Group has arranged the $20.1 million sale of The Mod, a newly constructed, mixed-use property in Chicago's West Loop neighborhood. The building, located at 1222 W. Madison St., includes 58 residential units, 4,707 square feet of retail space and 58 parking spaces. The location offers easy access to Chicago's CBD, The Kennedy Expressway and Eisenhower Expressway. Doug Imber, Doug Fisher and Jason Fishleder of Essex represented both parties in the transaction.
