NEW YORK CITY — A mixed-use property at 304 Bleecker St. has sold for $5.7 million in the Greenwich Village area of New York City. John Stewart of Marcus & Millichap's Manhattan office represented the seller, a private investor. Shlomo Manne, also of the firm's Manhattan office, represented the buyer, a partnership.
YONKERS, N.Y. — The conversion of 19th-century row houses in Yonkers to 10 loft-style apartments with street-level shops is underway. The retail space will total 9,000 square feet. Edwin A Quick & Son, the firm that designed Yonkers City Hall, designed 50 Warburton Ave. The buildings will be restored to their circa-1900 appearance. L+M Development Partners is the project developer. The $10 million project is expected to be complete in spring 2013.
HIGHLAND PARK, ILL. — Erik Kunz of NorthMarq's Chicago office has arranged a $6 million loan for the refinancing of Port Clinton Square, located at 600 E. Central Ave. in Highland Park. The mixed-use property includes 130,000 square feet of office and retail space. The 10-year loan has a 10-year amortization schedule. Nationwide Life Insurance Co. provided the loan.
NEW YORK CITY — Vornado Realty Trust has refinanced 100 W. 33rd St., a 1.1 million-square-foot property in Manhattan for $325 million. The high-rise contains the 243,000-square-foot Manhattan Mall and 847,000 square feet of office space. The loan bears interest at LIBOR, plus 2.5 percent, and matures in March 2015 with two one-year extension options (LIBOR is currently 2.74 percent). The company realized net proceeds of about $87 million after repaying the existing loan on the property and closing costs.
NEW YORK CITY — A local real estate developer has purchased three properties on adjoining lots for $2.8 million. The properties are located at 284, 286 and 288 Atlantic Ave. in Brooklyn. The first site includes a 3,600-square-foot mixed-use building, the second is a vacant lot and the last site is a mixed-use property with six apartments and one retail tenant. The new owner plans to renovate the existing buildings and develop the vacant land. Brian Leary, Scott Burk, Andre Sigourney, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX Real Estate represented the seller in the transaction. They also procured the buyer.
BOSTON — Skanska USA Commercial Development and Twining Properties have purchased a 1-acre parcel for a reported $18.6 million. The companies plan to develop Watermark Seaport, a planned residential tower with more than 300 apartments and 25,000 square feet of retail space. The project will be located on the southeast corner of Seaport Boulevard and Boston Wharf Square. The development will be contained within the 25-acre Seaport Square, which calls for 6.3 million square feet of residential, office, retail, hotel and civic space upon completion. Cushman & Wakefield Sonnenblick Goldman served as an advisor to Twining in the transaction. MS Boston Seaport was the seller.
ODESSA — The 68-acre Parks Legado Town Center, an approximately 300,000-square-foot, mixed-use center under construction along State Highway 191 in Odessa, will add a 120-room Residence Inn by Marriott and a branch of Aim Bank. The Sewell Family of Cos. will finish the first phase of the development in the fall, which will include shops, restaurants, offices, hotels and new car dealerships. Dallas-based Don Epperson is developing the property. Dallas-based Western International is developing the Residence Inn and Texas Western Hospitality will manage the hotel, which is slated to open in spring 2013. Levelland-based AIMBancshares owns the new branch of Aim Bank, which will feature five drive-thru lanes.
NASHVILLE, TENN. — A joint venture between H.G. Hill Realty Co. and Southeast Venture have plans to build the 90-unit 12 South Lofts, a mixed-use project located at 2310 12th Ave. S. in Nashville. In addition to the multifamily units, the building will include 9,800 square feet of ground floor retail. Construction is expected to begin mid-April with completion slated for summer 2013.
COLUMBUS — Cleveland-based American Coach Sales has acquired a 56,000-square-foot retail and warehouse property in Columbus, located at 1239-1251 Alum Creek Dr. The purchase price was $900,000. The company, which specializes in the sale of limousines and other transport vehicles, is already a tenant in the property, leasing 15,000 square feet. The building was fully leased at the time of sale, with American Coach and PGW Glass as the major tenants. Dan Sheeran and Mike Semon of NAI Ohio Equities represented the building owner, Doyle Properties, in the transaction. Greg Skinner of ERA Real Estate Solutions represented the tenant.
MINNEAPOLIS — Ryan Cos. and its investment partners have broken ground on a 580,000-square-foot, mixed-use project in downtown Minneapolis. The project, known as 222 Hennepin, will include 286 apartments and will be anchored by a Whole Foods Market, the first in downtown Minneapolis. Ryan's joint-venture partners include an unnamed institutional client of Invesco Real Estate and The Excelsior Group. Construction is slated for completion in 2013. The project is valued at $70 million.