NEW YORK CITY — A partnership between National Real Estate Advisors and Taconic Partners has topped out a 33-story apartment building in Midtown Manhattan. The building at 312 W. 43rd St. is located at the confluence of the Times Square and Hell’s Kitchen neighborhoods and will house 330 apartments and 42,000 square feet of retail space. In addition, the property will offer 28,000 square feet of indoor and outdoor amenities. Handel Architects designed the building, and Triton Construction is serving as the general contractor. Full completion is slated for fall 2024.
DENVER — Cleveland-based The Max Collection and Denver-based NAVA Real Estate Development have broken ground on Wilder, a multifamily property located at 1521 Hooker St. in Denver. Davis Partnership Architects designed the project, which will feature 196 apartments, co-working spaces, ample outdoor access, two rooftop terraces, a plunge pool, fitness center and yoga studio. Completion is slated for late 2024. Saunders Construction is serving as general contractor.
LITTLE FERRY, N.J. — Northmarq has arranged an $11 million loan for the refinancing of Gilbert Manor Apartments, a 108-unit multifamily property located in the Northern New Jersey community of Little Ferry. Built in the 1960s, the garden-style property consists of seven two-story buildings on a 3.4-acre site. Robert Ranieri of Northmarq arranged the fixed-rate loan, which carried a five-year term with two years of interest-only payments followed by a 30-year amortization schedule, on behalf of the undisclosed borrower. The name of the direct lender, a regional bank, was also not disclosed.
ANAHEIM, CALIF. — Berkadia Institutional Solutions has arranged the sale of Anavia, an apartment community in Anaheim’s Platinum Triangle area. Essex sold the asset to Chapman University for an undisclosed price. Tom Moran of Berkadia Irvine handled the off-market transaction. Originally built as a for-sale condominium project, Anavia features 250-units/550 beds with an average unit size of 1,249 square feet. The buyer plans to convert the property into student housing.
CARSON CITY, NEV. — Sierra Nevada Media Group has completed the sale of 580 Mallory Way, an industrial property in Carson City. Greenlaw Partners acquired the asset for $11.3 million. The buyer plans to lease the 90,056-square-foot asset to Bruce Aerospace. Currently located in Dayton, Nev., the producer of aircraft interior lighting systems plans to occupy the property in 2023 after completing modifications. The building formerly served as corporate offices for the Sierra Nevada Media Group, dba Questor Corp., which is a media provider in destination communities around the west. The building features corporate offices, as well as a modern printing press that was disassembled and sold as part of the seller’s disposition process. The building offers more than 54,000 square feet of production area and 35,000 square feet of office space. Nick Knecht, Joel Fountain, Baker Krukow and Tom Fennell of DCG represented the seller in the transaction.
LAKE GEORGE, N.Y. — Boutique brokerage firm Muroff Hospitality Group has negotiated the sale of The Lakefront Terrace Resort, a 73-room waterfront resort near Lake George in Upstate New York. The property, which was originally built in 1963 and recently renovated, offers a pool, private beach and a cabana bar and grill. Mitch Muroff of Muroff Hospitality represented the seller, a limited liability company, in transaction. The buyer was also an undisclosed limited liability company that purchased the asset for $7.4 million.
NEW YORK CITY — Grimshaw Services USA, a division of British architectural firm Grimshaw, has signed an 18,783-square-foot office lease at 60 Madison Avenue in Manhattan’s Meatpacking District. The tenant plans to take occupancy of the entire fourth floor in the second quarter of next year. Gregg Rothkin, Tim Freydberg, Jared London and Hayden Pascal of CBRE represented the landlord, The Moinian Group, in the lease negotiations. Ken Fishel of LegacyNY represented the tenant.
SAN RAMON, CALIF. — University Avenue Partners has purchased a mixed-use property located at 2551 San Ramon Valley Blvd. in San Ramon. Terms of the transaction were not released. At the time of sale, the 52,149-square-foot asset was 90 percent leased to a diverse mix of office and retail tenants. Steven Golubchik, Edmund Najera, Jonathan Schaefler and Darren Hollak of Newmark facilitated the transaction. Nicholas Bicardo of Newmark advised on the retail component of the sale.
DENVER — Marcus & Millichap has brokered the sale of 1800 Welton, a net-leased retail property in downtown Denver. A Colorado-based partnership sold the asset to an undisclosed buyer for $8 million. 7-Eleven occupies the 3,293-square-foot building, which is on a 15,660-square-foot site. Drew Isaac of Marcus & Millichap represented the seller in the deal.
CHICAGO — Lument has provided a $73.4 million Fannie Mae loan for the refinancing of a 47-building, 793-unit multifamily portfolio located on the South Side of Chicago. Nicholas Diamond of Lument originated the loan on behalf of the borrower, Chicago-based Icarus Investment Group. Jonathan Bodner of Two Bins Capital arranged the loan. The transaction utilized Fannie Mae’s Structured Adjustable-Rate Mortgage product, which enabled the borrower to consolidate six loans — several bank loans, a bridge loan and an agency loan — into a single Fannie Mae loan. The loan features a 10-year term, five years of which are interest-only payments, and a 35-year amortization schedule.