Property Type

HFF Arranges $44M Refinancing for Retail Condo in Manhattan

by Amy Works July 28, 2015

NEW YORK CITY — HFF has arranged a $44 million refinancing loan for a fully leased retail condominium located at 611 Avenue of the Americas in Manhattan’s Chelsea neighborhood. The company secured a 15-year, fixed-rate non-recourse loan through Allianz Real Estate of America Inc. on behalf of the US Allianz insurance companies for the borrower, The Parkland Group. Located at the base of a 10-story luxury residential property developed by The Parkland Group, the building features three retail spaces and 41 residences, which were not included in the financing. The 30,000 square feet of retail space is leased to Chase Bank, Duane Reade and Modell’s Sporting Goods. Rob Rizzi and Jennifer Keller of HFF arranged the financing for the borrower.

July 28, 2015

Multifamily New York Northeast

HAP Investments Breaks Ground on 120,000 SF Multifamily Project in East Harlem

by Amy Works July 28, 2015

NEW YORK CITY — HAP Investments has broken ground on a multifamily property at the corner of Third Avenue and E. 121st Street in Manhattan’s East Harlem neighborhood. The company plans to develop a 17,500-square-foot vacant lot into a 120,000-square-foot residential property. The property will feature 78,000 square feet of residential space, 26,000 square feet of commercial space, 5,000 square feet of parking and 1,000 square feet of community facility space. The new project will be an 80/20 rental development with at least 20 percent of the units designated as affordable housing for low-income residents. Karl Fischer Architect PLLC is providing architectural services for the project.

July 28, 2015

Multifamily New Jersey Northeast

CBRE Arranges $5.5M Sale of New Jersey Multifamily Portfolio

by Amy Works July 28, 2015

EAST ORANGE, N.J. — CBRE Group has arranged the $5.5 million sale of four-property multifamily portfolio located in East Orange. Totaling 73 apartment units, the properties include 6 Glenwood Ave., 30 Beech St., 46 S. Arlington Ave. and 345 Williams St. The portfolio, which totals 74,500 square feet, features a mix of one-, two- and three-bedroom units. At the time of sale, the portfolio was approximately 100 percent occupied. Charles Berger, Mark Silverman and Elli Klapper of CBRE Group represented the seller and procured the buyer in the transaction. The names of the seller and buyer were not released.

July 28, 2015

Industrial New Jersey Northeast

Colliers International Brokers $1.7M Sale of Industrial Building in New Jersey

by Amy Works July 28, 2015

MOORESTOWN, N.J. — Colliers International has arranged the sale of an industrial property located at 1501 Glen Ave. in Moorestown. Artcraft Promotional Concepts, a promotional product branding company, acquired the 40,000-square-foot property for $1.7 million. Situated on 3.26 acres, the property features 20-foot ceiling heights, three tailgates, one drive-in loading dock, 2,200 square feet of office space and a fenced yard. Marc Isdaner of Colliers International represented the seller, Clarit Realty Ltd., while William Goodwin of CBRE represented the buyer in the deal. Unity Bank provided the acquisition financing.

July 28, 2015

Connecticut Northeast Retail

Press/Cuozzo Commercial Brokers Sale of 3,830 SF Day Care Facility

by Amy Works July 28, 2015

NORTH HAVEN, CONN. — Press/Cuozzo Commercial has brokered the sale of a two-building former day care facility located at 20 Peck St. in North Haven. Situated on slightly more than one-half acre, the buildings total 3,830 square feet. The buyer, Lauren Grogan, acquired the property from K&J Holding LLC for an undisclosed sum. The buyer plans to renovate the properties. Stephen Press of Press/Cuozzo represented the seller, while Lou Proto of The Proto Group represented the buyer in the transaction.

July 28, 2015

Industrial Massachusetts Northeast Retail

Colliers Arranges Two Land Sales Totaling $20.8M in Massachusetts

by Amy Works July 27, 2015

WESTWOOD AND NEWTON, MASS. ¬— The Boston office of Colliers International has arranged two commercial land sales totaling $20.8 million. In Westwood, Prime Auto Group acquired 12 acres at 375 Providence Highway for $16.3 million. The buyer plans to develop three car dealerships on the site. In Newton, Dinosaur Capital Partners purchased three acres at 70 Rowe St. for $4.5 million. The buyer plans to develop a Verizon facility on the site. James Elcock of Colliers facilitated both transactions. The names of the sellers were not disclosed.

July 27, 2015

Mixed-Use New York Northeast Retail

Silvershore Sells 4,415 SF Mixed-Use Building in SoHo for $9.6M

by Amy Works July 27, 2015

NEW YORK CITY — Silvershore Properties has completed the sale of a mixed-use building located at 19 Howard St. in Manhattan’s SoHo Cast Iron Historic District. The three-story, 4,415-square-foot property sold for $9.6 million, or $2,174 per square foot. The property features additional air rights and was delivered vacant to the undisclosed buyer. Robert Burton of Cushman & Wakefield represented the seller in the transaction.

July 27, 2015

Industrial New York Northeast

TerraCRG Arranges 76,000 SF Lease of Loft Building in Brooklyn

by Amy Works July 27, 2015

NEW YORK CITY — TerraCRG has brokered the lease of 76,000 square feet of loft space at 80 Hudson Ave. in Brooklyn’s Vinegar Hill section. The former Global Storage building features two interior loading docks, two exterior loading docks and eight parking spaces. The tenant, a local developer, has not disclosed plans for the property. Ofer Cohen, Dan Marks, Peter Schubert and Joey Terzi of TerraCRG represented the landlord and the tenant in the deal.

July 27, 2015

Multifamily Texas

ARA Newmark Arranges Sale of Apartment Complex in Metro Houston

by Haisten Willis July 27, 2015

TOMBALL, TEXAS — ARA Newmark has arranged the sale of Alexan Creekside, a 380-unit, Class A apartment complex located in Tomball. Matthew Rotan and Adam Allen of ARA Newmark represented the sellers, Trammell Crow Residential and The Carlyle Group, in the transaction. David Marshall of ARA Newmark previously advised Trammell Crow Residential on the purchase of the land where the property now stands. Allen advised Trammell Crow on raising equity for the development. Los Angeles-based multifamily real estate management company Francis Property Management was selected as the buyer and purchased the property for an undisclosed price. Francis maintains a portfolio of apartment complexes located in Texas and California. Constructed in 2014, Alexan Creekside is located near The Woodlands’ 3,500-acre Creekside Park, which is the master-planned community’s newest village. Amenities include an electronically keyed unit and amenity access, USB charging stations, granite countertops, an upgraded unit finish package, a stainless steel appliance package, track and pendant lighting and under-cabinet kitchen lighting. Community amenities include swimming pools with an outdoor kitchen, cyber cafe, clubroom, resident lounge, coffee bar, complimentary Wi-Fi and a dog park.

July 27, 2015

Multifamily Texas

M&M Arranges Sale of 168-Unit Apartment Building in Fort Worth

by Haisten Willis July 27, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Sierra Hermosa Apartments, a 168-unit apartment property located in Fort Worth. John Barker, Trey McGhin and Mark Allen of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private partnership. Barker, McGhin and Allen also secured the buyer, a New Jersey limited liability company. Sierra Hermosa Apartments is located at 3254 Las Vegas Trail near West Camp Bowie Boulevard with access to Highway 820 and I-30. The property was built in 1970 and comprises 41 buildings. Nearly 70 percent of the units have two bedrooms. There are three onsite laundry facilities, seven floor plans and three boiler rooms.

July 27, 2015

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