Mixed-Use

BOSTON — L&B Realty Advisors has purchased 625 Massachusetts Ave., a mixed-use property in the Cambridge submarket of Boston, for $40.1 million. Built in 1929, the office and retail building underwent a complete renovation in 2000. The 122,104-square-foot property is located across the street from the Massachusetts Bay Transportation Authority's red line. The building is fully leased to tenants such as TD Bank and Walgreens. Scott Jamieson, John Osten and Peter Bekarian represented the seller, Samuels Property Group, in the transaction.

NEW YORK CITY — A Century 21 store will be the anchor tenant for the second phase of Brooklyn's City Point, a 1.3 million-square-foot, mixed-use development in the center of downtown Brooklyn. The second phase includes two apartment buildings to be built atop a five-story retail podium. BFC Partners has been selected to develop Tower I, which will include 250 mixed-income rental units. The building will be financed through the NYC Housing Development Corp. and Mayor Bloomberg's New Housing Marketplace plan. The Brodsky Organization will develop Tower 2, which will contain 440 apartments. The second phase is expected to be complete in 2015. Acadia Realty Trust and Washington Square Partners are the master developers for the project.

AMHERST, N.Y. — Ellicott Development has started work on a new $28 million mixed-use development in Amherst. The 122,000-square-foot building will include a 120-room Wyndham Garden Hotel & Suites, 33 apartments and 3,500 square feet of ground-floor retail space. Trautman Associates Architects and Tedo Engineers of Buffalo, N.Y. designed the hotel. Concept Construction Corp. is the project's general contractor.

NEW YORK CITY — Marcus & Millichap has arranged the $23.6 million sale of 680 Saint Nicholas Ave., a mixed-use building in Manhattan. The property includes 117 apartment units, five retail tenants and a cell phone antenna. Peter Von Der Ahe, Scott Edelstein and Seth Glasser of Marcus & Millichap represented both the buyer and seller in the transaction.

NEWINGTON, CONN. — The Davison Co., a specialty food distributor, has signed a long-term lease for 120,500 square feet of warehouse and office space in the Newington Business Park. The company will relocate from its current operation in Wallingford, Conn., and expand. Ed Godin of Matthews Commercial Properties represented the tenant in the transaction. Chris Metcalfe and Bill Bronson of CBRE represented the landlord, The Hampshire Cos.