NEW CANAAN, CONN. — RHYS has facilitated the sale of an office building located at 65 Locust Ave. in New Canaan. Morina Associates LLC acquired the property from 65 Locust Avenue LLC for $11 million, or $395 per square foot. At the time of sale, the 27,843-square-foot property was fully leased. Cory Gubner and Christian Bangert of RHYS represented the seller, while Bashkim Osmani of B&A Brokers Corp. represented the buyer in the deal.
GRANBURY, TEXAS — Marcus & Millichap has arranged the sale of Avalon Texas Center, a retail property located at 1030 E. Highway 377 in Granbury. Built in 2002, the 41,161-square-foot retail center is situated on a 4.6-acre lot. Michael Buckner and Richard Mireles of Marcus & Millichap represented the seller, a limited liability company. The name of the buyer and acquisition price were not released.
STRATFORD, CONN. — Avison Young has brokered the sale of Temple Court Medical Building, an office building located at 2590 Main St. in Stratford. Catherine J. Gong sold the three-story, 16,000-square-foot property to TimberRidge Associates for an undisclosed price. Neurological Specialists occupies the entire second floor of the property on a long-term lease. Eva Kornreich of Avison Young represented the seller, while the buyer had in-house representation.
SAN ANTONIO — Stream Realty Partners has brokered the sale of an office and warehouse building located at 5300 S.E. Loop 410 in south San Antonio. LBL 5300 LLC acquired the 17,229-square-foot property from CLN/WWMK LP for an undisclosed price. Jason Schnittger and Michael Kent of Stream Realty Partners – Central Texas represented the seller, while Nick Prater of 4M Realty represented the buyer in the deal.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a commercial building located at 92-94 Ludlow St. in Manhattan’s Lower East Side. The property sold in an all-cash transaction for $9 million, or $442 per buildable square foot. The site offers up to 20,342 buildable square feet and currently includes a 3,390-square-foot single-story commercial building. Zoned C6-1, the site allows for the development of commercial, residential or community facility spaces. The existing building is currently leased to Hotel Chantelle, a restaurant and club. Michael DeCheser, Darragh Clarke and Mei Ling Wong of Cushman & Wakefield brokered the transaction. The names of the seller and buyer were not released.
NEW YORK — National Cooperative Bank has originated $34.3 million in new loans during November for 10 properties in New York City, Belle Harbour and Riverdale, N.Y. Edward Howe III of National Cooperative Bank originated $15.6 million in loans, including: – A $9.3 million first mortgage and a $700,000 line of credit for Gentry Apartments Inc., a 247-unit co-op located at 310 Lenox Road and 330 Lenox Road in Brooklyn – A $2.9 million first mortgage and $250,000 line of credit for Beach 124 Apt. Inc., a 67-unit co-op located at 125 Beach 124th St. in Belle Harbour. – A $2.2 million first mortgage and $300,000 line of credit for a 33-unit co-op at One Clark Street in Brooklyn. Harley Seligman of National Cooperative reported $14.7 million in loans, including: – A $10.5 million first mortgage and $1 million line of credit for Arlington Owners, Inc., a 281-unit co-op at 139-15 83rd Ave. in Briarwood. – A $1.4 million term loan for Strivers Gardens Condominium, a 169-unit condominium association at 300 W. 135th St. in Manhattan. – A $1 million third mortgage and $750,000 line of credit for The Knolls Cooperative Section No. 1 Inc., a 238-unit co-op at 60 …
MONTROSE, TEXAS — Davis Commercial Real Estate has arranged the sale of a commercial land parcel located at 223 Westheimer in Montrose. Gazebo Management Inc. acquired the 8,250-square-foot site for the development of a dumpling restaurant. Mark Davis of Davis Commercial represented the undisclosed seller, while Charles Kwon of Realm Real Estate Professionals represented the buyer. The acquisition price was not released.
GLEN COVE, N.Y. — RXR Realty has broken ground on Garvies Point, a $1 billion waterfront redevelopment in the Long Island city of Glen Cove. The project will restore 56 acres of Glen Cove’s waterfront, creating more than 1,100 LEED-certified residences and 75,000 square feet of shops and restaurants. The project will also feature approximately 28 acres of public open spaces with parks, playgrounds, esplanades, marinas, an amphitheater and dog park. The residential units will include 569 condominiums and 541 apartments for lease. Garvies Point will also feature thee separate marinas with a total of 120 boat slips. Garvies Point is a partnership between RXR Realty and the City of Glen Cove. The project represents the culmination of a 20-year, $120 million effort to transform Glen Cove into a sustainable community. The first phase of Garvies Point, which includes 28 acres of public open space and amenities, is scheduled for completion in 2018. The entire project will take between five and seven years to build, according to RXR. RXR Realty is a private real estate company that specializes in investment management, property management, development, design, construction, leasing and financing. RXR’s growth strategy is focused on New York City and the …
LIHUE, HAWAII — Holliday Fenoglio Fowler (HFF) has arranged $96 million in financing for the development of Timbers Kauai – Ocean Club & Residences on the Hawaiian island of Kauai. The private oceanfront residence club will be situated within the planned Hokuala Resort in Lihue. Timbers Kauai will be the first real estate component of the planned 450-acre Hokuala Resort development that encompasses the existing Jack Nicklaus Signature Golf Course. Future developments within the resort will include a boutique hotel, luxury residential neighborhood, retail shopping village, resort spa, multiple dining options and multiple wedding venues. Timbers Kauai amenities will include an infinity-edge, oceanfront swimming pool with expansive terrace; family pool with beach entry, waterslide and waterfalls; poolside dining; fitness center and motion studio with outdoor lanai; spa and wellness center; Keiki Club for children; business center; club lounge; retail and sundries shop; and the private Ocean Club restaurant. The project is scheduled for completion in summer 2017. HFF’s Paul Brindley, Bryan Clark and Brad Greenway secured the construction financing from Mosaic Real Estate Credit.
BRIGHTON, COLO. — Inland Real Estate Acquisitions has acquired the 252-unit Solaire Apartments in Brighton for $57.5 million. The community is located at 1287 S. 8th Ave., about 20 miles northeast of Denver’s CBD. Solaire Apartments was 94 percent leased as of the closing date. Community amenities include a heated swimming pool, hot tub, 24-hour fitness center, outdoor grilling stations, business center and playground. The community is also situated on one of the nation’s largest geothermal systems, allowing Solaire Apartments to provide its residents with renewable energy. Inland Real Estate Acquisitions was represented in-house by Matthew Tice.
