NEW YORK CITY — A mixed-use condominium property at 1356 First Ave. on the corner of First Avenue and East 73rd Street has been sold for $9.13 million. The five-story property totals 19,840 square feet. Massey Knakal's Guthrie Garvin and Joan McLaughlin of The Corcoran Group handled the transaction. The commercial condominium is currently occupied by a restaurant, while the property's other condominiums are residential.
SAN ANTONIO — Hunter Lee LLC has purchased Judson Business Center, a 21,000-square-foot mixed-use complex at 13777 Judson Rd. in San Antonio. The business center has 10 occupants that include both office and retail tenants. Joe Linsalata of Linsalata Realty Services brokered the sale on behalf of the seller, James Krempen-Judson 35 Development and Construction. The buyer was self-represented.
FRANKLIN, MASS. — NorthMarq has arranged $44 million in first mortgage financing for Franklin Village Plaza, a 304,277-square-foot mixed-use shopping center in Franklin. NorthMarq's Doug Nickerson and Greg Nalbandian arranged the financing based on a 5-year term with a 30-year amortization schedule. The financing was arranged on behalf of borrower CSC Franklin Village LP through NorthMarq's correspondent relationship with Sun Life Assurance Co. of Canada. The shopping center sits on 32.07 acres and features 246,287 square feet of retail space and 57,990 square feet of office space. Tenants include Stop & Shop, Marshalls, British Beer Co. and Panera Bread.
NEW YORK CITY — A New York City mixed-use property in Manhattan’s Upper East Side has been purchased for $9.13 million. The property is located at 1356 1st Ave. and consists of 26 residential units and a ground-floor restaurant, Petaluma. The buyer, Delsha Capital, represented themselves in the transaction. Distinct New York, an affiliate of Delsha, is now the exclusive marketing agency for the mixed-use property.
NEW YORK CITY — Hudson Realty Capital has funded a $5.65 million DPO loan for a 14,000-square-foot mixed-use loft building in New York City’s Tribeca neighborhood. The five-story property is 100 percent occupied, and features 1,200 of retail space and four floor-through residential units. Hudson’s Spencer Garfield arranged the loan for the borrower and the loan will refinance and renovate the property with bathroom retrofits, sprinkler installation, exterior plantings and common area upgrades on the interior. The property was built in 1880 and offers an exterior brick façade and interior wood frames.
PHILADELPHIA — A joint venture between Philadelphia-based Resource Real Estate and a private hedge fund has purchased the whole mortgage loan of School Lane House Apartments, a 338,546-square-foot mixed-use property with 494 residential units and 12 retail units. The two-building, 11-story property is located at 5450 Wissahickon Ave. in Philadelphia’s East Falls area and includes a fitness center and parking garage. Mark Thomson and Zachary Pierce of Marcus & Millichap represented the seller, an East Coast commercial bank, and procured the joint venture.
DALLAS — Construction is set to commence in September on the five-story mixed-use building that will house the University Park Library in the new Plaza at Preston Center in Dallas. The construction will also add a multi-level underground parking garage, which will add 450 parking spaces to the center. The entire project is slated for a winter 2012 completion. Good Fulton & Farrell is designing the project and Rogers O’Brien Construction is the contractor. Venture Commercial is leasing the retail space, and Altschuler and Co. is leasing the office space. Other tenants include New Balance, Baskin Robbins, Corner Bakery Café, Lucky Dog Barkery and Matthew Trent Jewelry Design Studio.
CHICAGO — Millennium Properties R/E has negotiated the sale of a 3,860-square-foot mixed-use property, located at 3408 W. Fullerton Ave. in Chicago, for an undisclosed price. The property contains one retail unit and two apartment units. Yan Deng of Keller Williams represented the buyer, Renlin Xia, and Brad Thompson of Millennium Properties represented the seller.
NEW YORK CITY — Mortgage Equicap has arranged a $5 million bridge loan for the renovation of a mixed-use property in New York City’s Upper West Side. The property consists of 4,000 square feet of ground level retail space and 16 apartments totaling 12,000 square feet. The 12-month bridge loan is interest only during the initial term with a 4.75 percent floor. Mortgage Equicap’s Daniel Hilpert arranged the non-recourse loan.
NEW YORK CITY — Massey Knakal has brokered the $18.75 million sale of a mixed-use development site at the former Stella D’oro Bakery at 184-190 W. 237th St. in New York City’s north Bronx. The property sits on 5.2 acres and is comprised of 167,000 square feet, which includes a two-story factory building and a one-story garage/retail complex. The site will be redeveloped into a 162,000-square-foot retail complex. Karl Brumback of Massey Knakal represented the sellers in the transaction. Metropolitan Realty Associates and Angelo, Gordon & Co. purchased the property.