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Bronx, NY, portfolio sells for $53M; Marx Realty pays $49M for NYC properties


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Bronx, NY, portfolio sells for $53M; Marx Realty pays $49M for NYC properties

This feature rounds up recent commercial property news and highlights larger deal coverage already published.

* Lightstone Group LLC purchased the Pelham Parkway Portfolio comprising three six-story multifamily buildings totaling 220 units at 2197 Cruger Ave., 2198 Cruger Ave. and 2180 Bronx Park E. in Bronx, N.Y., from the Bronx River Management Corp. for $53 million, The Real Deal reported, citing property records.

* Marx Realty & Improvement Co. Inc. paid $48.5 million to acquire two office and retail properties at 135 and 161 Bowery St. in the Lower East Side of Manhattan, N.Y. A joint venture of Caspi Development Co., RWN Real Estate Partners and Artemis Real Estate Partners LLC sold 135 Bowery, while the same joint venture along with Ultimate Realty sold 161 Bowery.

* FPA Multifamily sold the 180-unit The Oslo residential community comprising six three-story buildings at 11501 Washington St. in Northglenn, Colo., for about $26.8 million to Skyline Real Estate Investments and its partner, and the 138-unit The Croft residential community comprising two six-story buildings at 7200 E. Evans Ave. in Denver for $21.5 million to Summit Communities LLC, the Denver Business Journal reported.

* Perillo BMW acquired a car dealership building at 1100 N. Clark St. in Chicago for $20 million from Loeber Motors, The Real Deal reported.

* CareTrust REIT Inc. purchased the Villas at Saratoga, an 85-bed skilled nursing and 37-unit assisted living campus in Saratoga, Calif., from Our Lady of Fatima Inc. for an expected initial investment of about $19.0 million. The property will be leased to Kalesta Healthcare LLC affiliates for a 15-year term with two five-year renewal options.

* Allied Properties REIT and RioCan Real Estate Investment Trust agreed to lease up to 433,752 square feet of space at The Well Tower project at 8 Spadina Ave. in Toronto to Shopify Inc. for a 15-year term starting in 2022, bringing the leased office space at the under-construction property to 71%.

* ClearView Healthcare Partners LLC agreed to lease a full-floor, 10,539-square-foot office space at Empire State Realty Trust Inc.'s 111 W. 33rd St. in New York City.

Additional coverage

Marriott's $500M Ritz-Carlton branded hotel project in NY breaks ground

StarPoint pays $193M for Beverly Hills, Calif., office building

RLJ Lodging Trust's St. Petersburg, Fla., hotel sells for $189M

T5 Data Centers sells Elk Grove Village, Ill., property for $119M

Howard Hughes makes $53M purchase in The Woodlands, Texas