Multifamily

WHITE PLAINS, N.Y. — HFF has closed the sale of 25 Martine Avenue, a 12-story, 124-unit multifamily community in White Plains. HFF marketed the property on behalf of the seller, a joint venture between Korman Communities and an institutional partner. The DSF Group purchased the community for $34 million free of existing debt. Renovated in 2004, the property features studio, one- and two-bedroom units averaging 727 square feet each. Community amenities include a fitness center, residents lounge, internet café and a 159-space parking garage. Jose Cruz and Andrew Scandalios, senior managing directors, Kevin O’Hearn and Jeffrey Julien, managing directors, and Stephen Simonelli, associate director, of HFF represented the sellers.

NEW YORK CITY — GFI Realty Services Inc. has arranged the sale of 477 3rd Street, a five-story multifamily building located in the Park Slope section of Brooklyn, for $7.7 million, or $387,500 per unit. Built in 1931, the apartment building includes 20 units totaling approximately 14,672 square feet. Roni Abudi of GFI Realty Services represented the seller, a local investor, in the transaction. Erik Yankelovich of GFI Realty Services represented the buyer, a foreign investor.

BOSTON — Fantini & Gorga has arranged $4 million in financing for Rutland Housing, a 44-unit midrise multifamily property in Boston’s South End neighborhood. Constructed in 1972, Rutland Housing includes two adjacent buildings, each four stories plus a basement. The buildings feature a mix of one-, two-, three- and four-bedroom units, as well as 18 off-street parking spaces and four retail/office units. The current ownership purchased the property in 1988 and has extensively renovated the apartments.

NEW YORK CITY — Marcus & Millichap has arranged the sale of 78 Irving Place, a 15-unit, 16,609-square-foot multifamily property located in New York City for $17.9 million. Peter Von Der Ahe, first vice president of investments, Joe Koicim, vice president of investments, and David Lloyd, investment associate, all from Marcus & Millichap’s Manhattan office represented the seller and buyer, both private investors. The seven-story residential building is located on the southeast corner of East 19th Street and Irving Place.

NORTH KINGSTOWN, R.I. — Fantini & Gorga has arranged a $12 million loan for the refinancing of Millcreek Townhouses, a 140-unit multifamily property in North Kingstown, a southern suburb of Providence. A Massachusetts-based financial institution provided the loan. Casimir Groblewski, managing director of Fantini & Gorga, arranged the financing on behalf of Millcreek LLC, an affiliate of The Grossman Cos. Inc. Located on 46 acres in the Quonset Point neighborhood of North Kingstown, Millcreek Townhouses features a clubhouse, extensive landscaping, a children’s playground, tenant picnic areas and five private fully paved roads. Millcreek includes two-, three- and four-bedroom units averaging more than 1,125 square feet.