New York City
Beech Street Capital has provided $13 million in permanent financing for the refinance of the 216-unit, six-building Alpine Gardens Apartments in the Jackson Heights section of Queens. The Fannie Mae DUS loan was originated by Meridian Capital Group, and was financed by Beech Street as part of its correspondent relationship with Meridian. The fixed-rate loan has a term of 10 years, including four years interest-only, with 9.5 years of yield maintenance and a 30-year amortization schedule on an actual/360 basis.
Zar Property has arranged a 10-year lease for post-production house Bikini Editorial LLC at 64-68 Wooster St.; the deal is for 5,750 square feet. James O’Reilly at Tungsten Properties represented the tenant, whose clients include McCann Erickson, Grey Woldwide and Ogilvy & Mather. David Zar represented the landlord in-house.
The Kaufman Organization recently brokered a 10-year, 3,504-square-foot lease at 261 Fifth Ave. for Abalon Exterminating, reportedly the largest pest control firm serving the area’s hotel and restaurant industries. Elliott Warren and Daniel Lipton of Kaufman represented the tenant in the transaction, while Randy Briskin of the Feil Organization represented the landlord. Asking rent at this 25-story Flatiron District property is $38 per square foot.
Fast-casual restaurant Hello Pasta, which has three other Manhattan locations, signed a long-term lease for 1,300 square feet on the ground floor of W&H Properties’ 1400 Broadway. The chain plans to open in this location in the fall. Amira Yunis and Jared Lack of Newmark Knight Frank represented Hello Pasta in the lease negotiations. Yunis also represented the landlord, along with colleague Zack Winkler.
Robert K. Futterman & Associates recently arranged a 610-square foot retail lease with Dinosaur Designs at 16 Prince St. RKF’s Karen Bellantoni and Beth Rosen represented the landlord, 16 Prince Development, LLC. The retailer plans to open in time for the holidays; meanwhile, RKF is marketing two remaining retail spaces on the ground floor of this six-story residential property in Nolita.
Boston
A CB Richard Ellis/New England team arranged a pair of leases totaling 11,229 square feet at Burlington Centre in Burlington, MA. Not-for-profit OASIS (Organization for the Advancement of Structured Information) will occupy 2,407 square feet at 25 Corporate Dr. while Viridity Software is taking 8,822 square feet at 35 Corporate Dr. CBRE’s Jason Levundusky and Kerry Olson represented the advisor for the landlord, Kennedy Associates Real Estate Counsel LP, in both transactions. OASIS Inc. was represented by Norblom Co.’s James O’Neill. Viridity was represented by Gregory Hoffmeister at T3 Realty Advisors, LLC.
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