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2,100-square-foot mixed-use building in Netcong, to DN Realty LLC. NAI James E. Hanson’s Joe Vindigni represented the seller.
LARKEN ASSOCIATES leased 1,343 square feet at Parsippany Commons, a 54,000-square-foot building at 3219 Route 46 East in Parsippany, to North Jersey Dermatology Center.
CIG PROPERTIES leased 760 square feet at 180-188 Mount Airy Road, a two- building, 100,000-square-foot complex in Parsippany, to Cornerstone Mortgage Group Inc. Michael Taylor of Lincoln Property Co. represented ownership.
RESIDENTIAL
A private owner sold Stonewood at Newton, a 32-unit rental property at 31 Paterson Ave., and Swartswood Gardens, a 32-unit property at 4-20 Swartswood Road, both in Newton, for $7.3 million. Joseph Keenan and Justin Lupo of The Kislak Co. Inc. represented the seller.
THE KABR GROUP sold The Fairmount at McGinley Square, a 58-unit apartment property at 280 Fairmount Ave. in Jersey City, to Tenth Avenue Holdings Properties for $23.75 million. Gebroe- Hammer Associates’ Niko Nicolaou represented the seller.
A private investor acquired 61 Park Ave., a property with 38 apartments and commercial space in Paterson, for $7.925 million. Marcus & Millichap’s Daniel Aviles, Richard Gatto, Fahri Ozturk and Casey Egan brokered the transaction.
A private buyer acquired an 18-unit portfolio at 34 Brighton Ave. in Kearny and 410 North 3rd St. in East Newark for $2.3 million. Cervelli Real Estate & Property Management brokered the sale.
A partnership sold 1306 and 1308 Palisade Ave., a 16-unit apartment
property in Union City, for $2.3 million. Marcus & Millichap’s Kevin Taub represented both parties.
RETAIL
ASPEN REAL ESTATE and DEVLI REAL ESTATE acquired Freehold Mall, a four-building, 220,000-square-foot property at 3681 Route 9 North in
Freehold. Colliers International’s Jacklene Chesler, Matthew Brown, Patrick Norris and Frank Summers represented the seller.
An unnamed buyer acquired Wrightstown Plaza Shopping Center, a 65,000-square-foot property on
the 400 block of Main Street in Wrightstown, for $1.8 million. Harriet Summers of Feinberg & McBurney Realty/Development LLC brokered the transaction.
MBT HOLDINGS UNION-LLC leased 19,400 square feet at 2432 Route 22 in Union to Express Union Tile Corp. The Goldstein Group’s Chris Conway and Patrick Brake III represented both parties.
A private LLC acquired 342 Route 46, a 3,250-square-foot bank property in Mount Olive, for $1.43 million. Marcus & Millichap’s Michael Kook brokered the sale.
AMERICA’S BEST CONTACTS & EYEGLASSES
leased 3,000 square feet at the Somerville Circle Shopping Center, a 150,000-square-foot property
at 300 Route 202 in Raritan. Vanessa Fernandez-Kelty of Levin Management Corp. represented ownership, while Cushman & Wakefield and David Dunkelman of Soloff Realty & Development represented the tenant.
LARKEN ASSOCIATES leased 2,700 square feet at Raritan Crossing, a 62,955-square-foot shopping center at 90 East Somerset St. in Raritan, to Levinson Axelrod P.A.
POPEYES LOUISIANA KITCHEN leased 2,500 square feet at St. Georges Crossing, a 343,000-square-foot center at the intersection of routes
1 & 9 and 35 in Woodbridge. E.J. Moawad of Levin Management Corp. represented ownership, while Shane Wierks of Jeffery Realty represented the tenant.
KRAFT DEVELOPMENT II leased 2,500 square feet at Holmdel Towne Center, located at 2107 Route 35 in Holmdel, to Playa Bowls. Jeffery Realty represented ownership, while David Hellman represented the tenant.
LARKEN ASSOCIATES leased 1,963 square feet at The Shoppes at Woods Tavern, a 31,299-square-foot complex at 438 Route 206 in Hillsborough, to Amwell Pharmacy.
SUZANNE’S HAIR AND COLOUR ROOM
leased 950 square feet at 244 Main St. in New Milford. NIA National Realty’s Nina Bianco brokered the transaction.
STACK CREAMERY leased 724 square feet at 287 Westwood Ave. in Westwood. NIA National Realty’s Nina Bianco brokered the transaction.
The owner of Smithville Square, a shopping center at 45 New York Road in Galloway, leased space to Scents of Flowers and Gifts. Vantage Real Estate Services’ Aran Ploshansky
and Corinne Giletto brokered the transaction.
FINANCE
LIGHTSTONE CAPITAL provided a $42.7 million bridge loan to Namdar Group, the developer of a 132-unit apartment building at 97 Newkirk
REALESTATENJTM 9 St. in Jersey City. Greystone
Capital Advisors’ Drew Fletcher, Matthew Hirsch and Bryan Grover represented Namdar in securing the funds, which will be used
to refinance existing senior and mezzanine construction debt.
GREYSTONE closed a $15.326 million loan for Goldcrest Properties, the owner of the 208-unit Kingsrow Apartment Homes complex at 500 Chews Landing in Lindenwold. Goldcrest will use the financing, which carries a 12-year term, three years of interest-only payments and 30-year amortization, to refinance the acquisition loan for the property.
An undisclosed life insurance company closed $10.7 million in acquisition financing and equity for Camber Real Estate Partners’
purchase of 569 Halls Mill Road,
a 129,600-square-foot industrial building in Freehold and Howell. JLL’s Greg Nalbandian sourced the loan on behalf of the borrower.
MUTUAL OF OMAHA provided $6 million in financing to the developer of a newly opened Wawa gas station and convenience store at 685 Morris Turnpike in Springfield. Bridget Wilcox and Albert Raymond of G.S. Wilcox & Co. secured the loan, which has a 20-year term and 25-year amortization.
PROVIDENT BANK provided a three- year loan to Iron Ore Properties, the developer of an 11-unit residential and commercial project at 104 Baker St. in Maplewood. JLL’s Michael Klein and Max Custer led the debt placement team that secured the construction financing. RE
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$2,300,000
Kevin Taub
CLOSED
$3,500,000
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$3,325,000
JIM MCGUCKIN l REGIONAL MANAGER l 250 PEHLE AVE #501, SADDLE BROOK, NJ 07663 l PHONE: (201) 742-6150
Real Estate Investment Sales » Financing » Research » Advisory Services
FINANCED
