New York City

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Following on last week’s announcement that sporting goodsretailer REI would open its first New York City location at thePuck Building, Holliday Fenoglio Fowler announced this week that ithas arranged an $80-million first mortgage financing for thehistoric 265,000-square-foot, office and retail building at 295Lafayette St. Working on behalf of borrower Kushner Cos., HFF’sMike Tepedino, Jose Cruz and director Steven Klein placed theadjustable-rate loan on the property, the onetime home ofPuck, America’s first political satire magazine. HFF didnot disclose the lender; however, city Department of Financerecords identify it as the Bank of Ireland.

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Arbor Commercial Funding has originated a $4.6-million loanunder the Fannie Mae 3Max product line for the 655 East 233rdStreet Apartments in the Bronx. The 10-year loan amortizes on a30-year schedule. The loan was originated by Brian Scharf inArbor’s Uniondale, NY office.

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CBRE has been tapped to sell 241 Water St., a 33,168-square-footboutique office property in Manhattan’s South Street SeaportDistrict that was originally built in 1799. The firm’s Leo Paytas,Ned Midgley, Tim Sheehan, Daniel Kaplan, Gerry Miovski and ErinWenzler are marketing the property on behalf of the owner, Seamen’sChurch Institute of New York and New Jersey, which is rebalancingits portfolio.

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Lord Securities has signed an early renewal at Swig Equities’ 48Wall Street. The 10-year, 6,900-square-foot renewal is for theentire 27th floor. Snezana Anderson and Jim Searl of CB RichardEllis represented Lord Securities; Swig was represented by KentSwig and Todd Korren.

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Showroom Delfina, LLC, a contemporary women’s apparel andaccessories showroom, signed an eight-year, 3,100-square-foot leaseat 231 W. 39th St. James Buslik and Jeffrey Buslik of Adams &Co. represented both the landlord and tenant in the transaction.The Busliks also represented landlord and tenant in anothershowroom deal, in which Blue Since Birth signed a six-year,1,444-square-foot lease. Asking rent in both deals was $35 persquare foot.

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Westchester County

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Chatham Lodging Trust has closed on its all-cash acquisition ofthe Residence Inn by Marriott—New Rochelle for $21 million, orapproximately $169,000 per key. The Palm Beach, FL-based REITacquired the nine-story, 124-unit property at 35 LeCount Pl. fromCappelli Enterprises, and expects to close on an $85-millionrevolving credit facility shortly. The hotel will be managed byIsland Hospitality Management, a hotel management company 90% ownedby Chatham CEO Jeffrey Fisher.

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Fairfield County

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HFF has arranged a $3.6-million refinancing for a20,000-square-foot office building at 300 Post Rd. W. in Westport,CT that is completely leased to the Wealth Management Group of UBS.Amalgamated Bank provided the seven-year, fixed-rate loan; HFF’s AlEpstein worked exclusively on behalf of the borrower, 300PRWLLC.

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Boston

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Matt Harvey, Joe Sciolla, and Joe Doyle of CresaPartners inBoston recently represented Pharmalucence Inc. in the purchase of a70,000-square-foot property at 29 Dunham Rd. in Billerica, MA for$2.7 million. Currently based in Bedford, MA, Pharmalucence, aradiopharmaceutical product supplier, is consolidating severallocations and is building a new state-of-the-art drug manufacturingfacility at this site to serve as its headquarters. CBRE’s JasonLevendusky and David Pergola Sr. represented the former owner,RREEF.

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Upstate New York

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Syroco Inc. has sold its 269,178-square-foot warehouse buildingat 7474 State Fair Blvd. in Baldwinsville, NY to Tessy PlasticsCorp for $3.15 million. The seller, which shut down operations inJune 2007, formerly used the facility for the distribution ofinjection molded outdoor furniture; the buyer produces plasticcomponents for consumer, medical and automotive products.Binswanger’s James Panczykowski brokered the sale. Binswanger iscontinuing to market the former Syroco plastics factory on anadjacent parcel.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.