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.
NEW YORK CITY — Massey Knakal has brokered the $8.1 million sale of two adjacent mixed-use buildings in Manhattan’s Upper West Side at 450 and 452 Amsterdam Ave. The properties are approximately 18,500 square feet combined with four stores and 16 apartments, and the sales price equates to approximately $437 per square foot. The buildings are both five-stories and have been owned by a New York family for multiple generations. Massey Knakal’s Hall Oster and Paul Smadbeck had the exclusive listing for the properties.
NEW YORK CITY — A mixed-use development site at 3555 White Plains Rd. in the Williamsbridge neighborhood of the Bronx in New York City was sold for $1.03 million. The sales price equates to approximately $30 per buildable square foot as the lot spans 11,600 square feet and provides approximately 34,800 square feet of buildable space. New York City Planning has proposed rezoning the site, which was once used as a parking lot. Karl Brumback of Massey Knakal had the exclusive listing of the property.
TEMPE, ARIZ. – The mixed-use Crossroads of Tempe development has been sold to a joint venture between Via West Properties, LLC, and Southwest Value Partners for $4,055,000. The property is composed of three buildings that contain 96,600 square feet of office and 15,460 square feet of retail space. The office space is currently vacant. The retail space is 55 percent leased. Cushman & Wakefield’s Gustin, Karsten Peterson, Dave Seeger, Ryan Bartos and Rachael Kimsey represented both the buyer and the seller, Castle & Cooke.
NEW YORK CITY — A mixed-use building comprised of nine apartment units and seven retail stores located at 825-829 Flatbush Ave. in Brooklyn has been purchased for $2.8 million. The property has a total 13,059 square feet of rentable space, with 9,792 square feet as multifamily space and 3,267 square feet of retail space. Naomi Shu of Marcus & Millichap Real Estate Investment Services’ Manhattan office represented both the buyer and seller in the transaction.
NEW YORK CITY — Marcus & Millichap has arranged the $13.5 million sale of a defaulted mortgage and judgment with a seven-story mixed-use building as collateral. The building is located at 148 W. 28th St. in Manhattan’s Chelsea neighborhood. The property includes 26,296 square feet of existing improvements and 66,800 square feet of developmental rights. Barbara Dansker, Adelaide Polsinelli and Matt Rosenzweig represented Marcus & Millichap in-house in the transaction.
NEW YORK CITY — Jericho, N.Y.-based Metropolitan Realty Associates (MRA) and its equity partner Angelo Gordon & Co. have sold a 188,500-square-foot mixed-use property for $39.25 million, or about $208 per square foot. The buyers are real estate investor David Werner and Carlton Associates Inc., both of New York City. The two building complex sits at 1000 Stewart Ave. and 500 Endo Blvd. in Garden City on Long Island. The sale is the result of an auction conducted by Eastdil Secured’s Michelle Mahl, Josh King, Adam Spies and Adam Etra. The buyers represented themselves in the transaction. MRA and Angelo Gordon acquired the building in 2005 from Bristol Myers Squibb.
NEW YORK CITY — Massey Knakal and Adams & Co. have arranged the sale of a $1.8 million mixed-use property at 180 E. 94th St. in Manhattan. The four-story property is 3,147 square feet and is comprised of one retail unit, currently leased by a nail salon, and two fair market residential units, which includes a duplex with a roof deck. James P. Nelson and Tom Gammino Jr. of Massey Knakal represented the seller and Adams & Co.’s Jeff Buslik and Staci Goodman represented the buyer. The sale works out to be about $645.86 per square foot.