NEW YORK CITY — Kalmon Dolgin Affiliates has brokered the sale of three properties, totaling 51,000 square feet, in the Williamsburg area of Brooklyn. ITF Corp + 735 Bedford Ave LLC sold the properties for $7.5 million to Moses Wertheimer. The properties are located at 11/13/15 Spencer St., 466 Flushing Ave. and 23/25/27 Spencer St. Aqua Best Inc., a seafood distributor, currently occupies 5,000 square feet of the space. Neil Dolgin of Kalmon Dolgin represented the seller in the transaction; the buyer was self-represented.
PORTLAND, ORE. – The 46-unit Clinton Court apartments in Portland has sold to Clinton Properties LLC for $6 million. The community is located at 2725 SE 29th Street. The seller repositioned the property in 2013. Kirk Ward of Norris & Stevens represented both the buyer and seller, CCA LLC, in this transaction.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Forest Apartments, a 24-unit apartment property located in Fort Worth. Trey McGhin and John Barker of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. McGhin and Barker also represented the buyer, a private investor that purchased the property in a 1031 exchange. Forest Apartments is located at 3200 Lake Como Drive. The property includes access to the Camp Bowie cultural district, I-30 and is five miles from Downtown Fort Worth. Each unit has one bedroom and one bathroom, with laminate and carpet flooring.
SUGAR LAND, TEXAS — Planned Community Developers has acquired a five-acre lakefront site in Sugar Land for the development of a Class A office building with structured parking and a planned 134-room hotel. The site is within walking distance of dining, shopping, residential and medical properties, including Whole Foods Market, 14 restaurants, Lifetime Fitness and 320 town homes, patio homes and lifestyle garden homes.
COCONUT GROVE, FLA. — Marcus & Millichap has brokered the sale of two office buildings in Coconut Grove: Bayview Executive Plaza and Continental Plaza. The total sales price for the two assets is $42 million. Located at 3225 Aviation Ave., the 57,155-square-foot Bayview Executive Plaza has a tenant roster including Femwell Group Health Inc., Wolfberg Alvarez & Partners and Pinchasik Yelen Muskat Stein LLC. Located at 3250 Mary St., the 80,380-square-foot Continental Plaza is leased to tenants such as The Downs Law Group and HealthSun Health Plans Inc. Douglas Mandel and Benjamin Silver of Marcus & Millichap’s Fort Lauderdale office represented the undisclosed seller and procured the buyer, Allegra Holding.
NEW YORK CITY — Eastern Consolidated has arranged the sale the Ridge Street portfolio, three contiguous mixed-use buildings located on the Lower East Side. A partnership between Admiral Capital Group and Four Winds Realty purchased the properties for $50 million from Judah Klausner and Richard Freedman. Located at 198-200 Rivington St., 110-114 Ridge St. and 118 Ridge St., the portfolio includes 64,000 square feet featuring 61 residential units, three retail stores and one 6,250-square-foot community facility space. Deborah Gutoff of Eastern Consolidated procured the buyer, while Gutoff and Ronda Rogovin, also of Eastern Consolidated, represented the sellers in the transaction.
NEW YORK CITY — Crest Realties has acquired a multifamily building in Manhattan’s Washington Heights neighborhood for $9 million. Located at 140 Wadsworth Ave., the six-story building features 31 apartments and four professional offices. The property is adjacent to 4240 Broadway and near 4300 Broadway, two multifamily properties that Crest Realties purchased in November 2013 for $23.7 million. Peter Vanderpool and Lazer Sternhell of Cignature Realty Associates represented the buyer and the seller, 140 Wadsworth (a local family estate), in the transaction.
DEER VALLEY, ARIZ. – ViaWest has acquired nine acres of land in Deer Valley for $3.2 million. The land is located at 50 and 100 E. Pinnacle Peak Road in the Phoenix submarket. It is currently leased to Cemex, a global building materials company that provides high-quality products and services. ViaWest Group was represented by John Pompay and Gary Anderson of DTZ. The seller, Luke Land 80 LLC, was represented by Luke Lewis of Luke Land Realty.
COPPERAS COVE, TEXAS — Boston Capital is investing in the construction of Constitution Court Apartments Phase II, a 72-unit apartment complex Copperas Cove. Commonwealth Development and KJK Enterprises are the general partners. The complex will be built with tax credit equity from the Low Income Housing Tax Credit program. Units will be available to individuals and families earning 60 percent or less of the area median income. Constitution Court Apartments will be the second phase of an existing 108-unit tax credit development built in 2011, which was financed with Tax Credit Exchange Program funds. The apartment community will feature 20 one-bedroom/one-bath, 32 two-bedroom/two-bath and 20 three-bedroom/two-bath units in six, two-story garden-style buildings. The construction of the second phase of Constitution Court Apartments will generate more than $5.1 million in local salaries and create nearly 80 new jobs in the Copperas Cove area. Boston Capital’s investment in this development adds 72 affordable homes to its apartment portfolio. To date, Boston Capital has invested in more than 21,900 affordable apartments in Texas.
CORPUS CHRISTI, TEXAS —Marcus & Millichap has arranged the sale of Glen Willows Apartments, a 233-unit apartment complex in Corpus Christi. Zar Haro of Marcus & Millichap’s San Antonio office, along with Mike Moffitt Jr. of the firm’s Austin office, represented the seller, a limited partnership. The buyer is a limited liability company. Built in 1973 on 10.3 acres, Glen Willows Apartments is located at 5802 Everhart Road. Floor plans at the property include 32 one-bedroom, 128 two-bedroom and 47 three-bedroom single-level units, along with 26 two-bedroom/one-and-one-half-bath townhomes. The units feature central air conditioning, all-electric kitchens, spacious closets, patios and second-floor balconies. Community amenities include controlled access gates, two on-site laundry rooms, two swimming pools and a playground.