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Northeast

Extra-Space-Hillsborough
DevelopmentIndustrialNew JerseyNortheastSelf-Storage

JLL Arranges Construction Financing for 709-Unit Self-Storage Facility in Hillsborough, New Jersey

by Taylor Williams

HILLSBOROUGH, N.J. — JLL has arranged an undisclosed amount of construction financing for a 709-unit self-storage facility that will be located in the Northern New Jersey community of Hillsborough. The site spans 8.6 acres at 35 Bedle St., and the facility will feature 76,119 net rentable square feet of climate-controlled space. Michael Klein, Nazario Paragano and Michael Donohoe of JLL arranged the financing through Provident Bank on behalf of the developer, Shadowbrook Capital. Extra Space Storage will operate the facility. Completion is slated for 2027.

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DevelopmentIndustrialNew YorkNortheast

Sagard Real Estate Completes 331,700 SF Warehouse on Staten Island

by Taylor Williams

NEW YORK CITY — Sagard Real Estate, the Denver-based firm formerly known as EverWest Real Estate Investors, has completed One Nassau Place, a 331,700-square-foot warehouse on Staten Island. The site is located less than a mile from State Route 440, and the building features a clear height of 36 feet, 60 dock doors, 175 car parking spaces, rooftop solar panels and an ESFR sprinkler system. Construction began in summer 2024. Sagard has tapped Cushman & Wakefield as the leasing agent.

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AcquisitionsMultifamilyNew JerseyNortheastSeniors Housing

Hudson Atlantic Negotiates Sale of 59-Unit Affordable Seniors Housing Building in Bayonne, New Jersey

by Taylor Williams

BAYONNE, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the sale of a 59-unit affordable seniors housing community in Bayonne, roughly 10 miles outside New York City. Senior Horizons at Bayonne features units that carry a range of income restrictions, including for residents earning 40 to 60 percent of the area median income. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed.

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AcquisitionsDevelopmentNew YorkNortheast

Marcus & Millichap Brokers $16M Sale of Brooklyn Development Site

by Taylor Williams

NEW YORK CITY — Marcus & Millichap has brokered the $16 million sale of a development site in the Prospect Heights area of Brooklyn. The 16,500-square-foot site at 863 Dean St. is zoned for residential or mixed-use development. Matt Fotis of Marcus & Millichap represented the seller, a local family, in the transaction, and procured the buyer. Both parties requested anonymity.

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WoodBrook-at-Randolph-New-Jersey
DevelopmentMultifamilyNew JerseyNortheast

Woodmont, Canoe Brook Complete 199-Unit Apartment Complex in Randolph, New Jersey

by Taylor Williams

RANDOLPH, N.J. — A partnership between Woodmont Properties and Canoe Brook Development has completed WoodBrook at Randolph, a 199-unit apartment complex in Northern New Jersey. The property comprises a four-story mid-rise building with 97 flats and seven buildings with 102 multi-story townhome-style residences. Unit feature one- to three-bedroom floor plans and dual-sink vanities, soaking tubs, full-size washers and dryers, private patios or balconies and keyless entry systems. Amenities include a sports simulator, pool, coworking space, yoga room and a fitness center. Leasing began last August.

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AcquisitionsIndustrialNew JerseyNortheast

NAI DiLeo-Bram Negotiates $10.5M Sale of Industrial Building in Piscataway, New Jersey

by Taylor Williams

PISCATAWAY, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has negotiated the $10.5 million sale of a 41,309-square-foot industrial building in the Northern New Jersey community of Piscataway. According to LoopNet Inc., the building at 281 Centennial Ave. was originally constructed in 1973. Robert J. DiLeo, Kyle Gerace and Robert V. DiLeo of NAIDB represented both the seller, HVAC services company Binsky & Snyder, and the buyer, Eastern Lift Truck Co., in the transaction.

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AcquisitionsMassachusettsMultifamilyNortheast

Marcus & Millichap Brokers $6.5M Sale of Cambridge Apartment Building

by Taylor Williams

CAMBRIDGE, MASS. — Marcus & Millichap has brokered the $6.5 million sale of a 10-unit apartment building located across from Harvard University in Cambridge. Originally constructed in 1925, the 13,000-square-foot building at 23-25 Hammond St. offers one-, two- and five-bedroom apartments. Evan Griffith and Tony Pepdjonovic of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

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IndustrialLoansNew JerseyNortheast

Cushman & Wakefield Arranges Financing for IOS Facility in South Plainfield, New Jersey

by Taylor Williams

SOUTH PLAINFIELD, N.J. — Cushman & Wakefield has arranged an undisclosed amount of acquisition financing, as well as joint venture equity, for an approximately 8-acre industrial outdoor storage (IOS) facility in South Plainfield, about 40 miles southwest of New York City. The facility at 200 Saint Nicholas Ave. houses two maintenance facilities totaling 10,000 and 20,000 square feet. John Alascio, T.J. Sullivan and Chris Meloni led the transaction for Cushman & Wakefield on behalf of the sponsor, Ridgecut Road.

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LATITUDE-Parsippany-New-Jersey
LoansNew JerseyNortheastOffice

Cushman & Wakefield Arranges $80M Loan for Refinancing of Northern New Jersey Office Campus

by Taylor Williams

PARSIPPANY, N.J. — Cushman & Wakefield has arranged an $80 million loan for the refinancing of LATITUDE, a 35-acre office campus located in the Northern New Jersey community of Parsippany. LATITUDE features 524,859 square feet of office space across multiple buildings. Tenants include Gilead, FM Global, Mead Johnson, Essential Homes and Sax Wealth Advisors. Oak Funding, a locally based bridge lender and private equity real estate firm, along with Oak North Bank, provided the debt. Chuck Kohaut, Brad Domenico, David Bernhaut, Alexander Hernandez, Frank Stanislaski, Bill Baunach and Jack Subers led the debt placement efforts for Cushman & Wakefield. The borrower, a partnership between Rubenstein Partners and Vision Real Estate Partners, first acquired LATITUDE in 2017 and subsequently renovated the campus, inclusive of the addition of 30,000 square feet of new amenities.

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DelawareDevelopmentMultifamilyNortheast

Buccini Pollin, University of Delaware Top Out $75M Multifamily Project in Newark

by Taylor Williams

NEWARK, DEL. — A public-private partnership between local developer Buccini Pollin Group and the University of Delaware has topped out The Asters, a $75 million multifamily project in Newark. The Asters is located within the university’s Science, Technology and Advanced Research (STAR) campus and will offer 229 one- and two-bedroom units across two seven-story buildings. Units will range in size from 600 to 1,100 square feet and will be furnished with quartz countertops, tile backsplashes and stainless steel appliances. Select residences will feature private balconies. Amenities will include a pool, outdoor grilling and dining areas, landscaped courtyard with pickleball court, indoor basketball court, fitness center with boxing and yoga spaces and a resident lounge with an entertainment kitchen and game room.

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