Northeast Real Estate Business

NOV-DEC 2015

Northeast Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Northeast United States.

Issue link: http://northeastrealestatebusiness.epubxp.com/i/610971

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16 • November/December 2015 • Northeast Real Estate Business www.REBusinessOnline.com N E W Y O R K SUPER FI EMPORIUM ACQUIRES 12,000 SF GROCERY SPACE IN EAST HARLEM NEW YORK CITY — Super Fi Em- porium has purchased 12,000 square feet of retail space at HAP Invest- ment's residential building located at 2211 Third Ave. in East Harlem for an undisclosed price. The buy- er plans to open a supermarket in the ground-foor retail space of the 120,000-square-foot rental project, which will feature 78,000 square feet of residential space, 12,000 square feet of commercial space, 5,000 square feet of parking and 700 square feet of com- munity facility space. Faith Consolo, Joseph Aquino and Arthur Maglio of Douglas Elliman represented the sell- er, HAP Investment, and buyer in the transaction. WORLD WIDE GROUP, ROSE ASSOCIATES TOP OUT 252 EAST 57TH STREET NEW YORK CITY — Construction has topped out for 252 East 57th Street, a 65-story condominium tower in New York City. Developed by World Wide Group and Rose Associates, the tower has reached its highest point of more than 700 feet. Designed and construct- ed by SOM, DeSimon, Flack + Kurtz, SLCE Architects and Lend Lease LMB Inc., the tower features a curved glass façade that amplifes the residen- tial surface areas and offers views of Manhattan, Central Park and the East River. Upon completion the tower will feature 93 condominiums in two-, three-, four- and fve-bedroom con- fgurations. On-site amenities include a gated porte-cochere and a residents' club with a terrace, pool and spa. Oc- cupancy is slated for late 2016, with residences starting at $4.5 million. MEGALITH CAPITAL, URBAN REALTY LAUNCH SALES FOR 200 WATER STREET NEW YORK CITY — Megalith Capi- tal Management and Urban Realty Partners have launched sales for 200 Water Street, a six-story boutique resi- dential building in Brooklyn's historic DUMBO neighborhood. The property includes 15 gallery-style condomini- ums featuring two, three or four bed- rooms with expansive windows and up to 14-foot high ceilings. Converted from a former 1950's Brillo steel wool factory, 200 Water was designed by Gil Even-Tsur's Architecture Work- shop and Aufgang Architects. The building's penthouse features roof decks, terraces and foor-to-ceilings windows. On-site amenities include a ftness center, landscaped garden, bike storage and a doorman. SHORENSTEIN PROPERTIES BEGINS $30 MILLION RENOVATION PROGRAM AT 1407 BROADWAY NEW YORK CITY — Shorenstein Properties has undertaken a $30 mil- lion renovation and enhancement pro- gram at 1407 Broadway, a 1.1 million- square-foot offce/retail building in New York. Designed by Fogarty Fin- ger, the capital improvement program will include a new lobby and building entrance, façade improvements, el- evator cab upgrades and updated re- tail storefronts. Shorenstein acquired the property's ground lease from Abraham Kamber Associates and the sublease from Lighthouse in April 2015 for $330 million. Shorenstein has retained CBRE as the exclusive offce space leasing agent. SRS Real Estate Partners will lead all retail brokerage activity. ANBAU BREAKS GROUND FOR 34-STORY CONDO BUILDING IN UPPER EAST SIDE NEW YORK CITY — Anbau, a devel- oper of luxury residential properties, has broken ground for Citizen360, a condominium property located at 360 E. 89th St. in Manhattan's historic Yor- kville neighborhood. Designed by The SHoP Architects, the 34-story building will feature 84 residences in a mix of one, two-, three- and four-bedroom layouts ranging from 900 to 4,500 square feet. On-site amenities include a lobby with green space, a ftness center with yoga and training studios, an entertainment suite with adjoin- ing screening room, private resident lounges, multi-media studio, art stu- dio and children's playroom. GFI ARRANGES $12 MILLION SALE OF BROOKLYN APARTMENT BUILDING NEW YORK CITY — GFI Realty Ser- vices has arranged the sale of a mul- tifamily property located at 477 Third St. in Brooklyn's Park Slope neighbor- hood. The 20-unit apartment building sold for $12 million, or $818 per square foot. The fve-story walk-up features a mix of one- and two-bedroom units, as well as on-site laundry facilities. The buyer, a multi-generational local investor, plans to implement improve- ments to the property and maintain it as a long-term rental building. Erik Yankelovich of GFI Realty represented the undisclosed seller, while Moshe Gelbstein, also of GFI Realty, repre- sented the buyer in the transaction. MERIDIAN CAPITAL ARRANGES $50 MILLION LOAN FOR CROSSROADS OFFICE PORTFOLIO HAUPPAUGE AND ISLANDIA, N.Y. — Meridian Capital Group has negoti- ated $50 million in permanent fnanc- ing to refnance the Crossroads Offce Portfolio in Hauppauge and Islandia. The Matrix Group was the borrower. Jeffries LoanCore LLC provided the 10-year CMBS and mezzanine fnanc- ing package. The portfolio contains two adjacent offce parks, Crossroads Corporate Center and Crossroads Ex- ecutive Park, totaling 14 buildings and 392,000 square feet. The properties are located at 1363-1393 Veterans Memo- rial Highway in Hauppauge and 1707- 1797 Veterans Memorial Highway in Islandia. The multi-tenant properties were constructed between 1984 and 1989. Tal Bar-Or, Judah Neuman and Kyle Kite of Meridian Capital Group arranged the fnancing. Operating and managing 3 million square feet of industrial, commercial, and retail space in the mid-Atlantic region. 405 E. Marsh Lane, Suite 1, Newport, DE 19804 Phone: (302) 323-9300 www.HarveyHanna.com FLEXIBLE SPACE SOLUTIONS FOR YOUR BUSINESS Contact us today to learn more. RETAIL OFFICE INDUSTRIAL Super Fi Emporium plans to open a 12,000-square-foot supermarket at 2211 Third Ave. in East Harlem.

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