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● CBREGinsburg buys $54M beach community

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Ginsburg Development Companies (GDC) has acquired The Landing on Mohegan Lake, a beach rental association of 207 one- and two–bedroom apartments.

The acquirement amount was $54 actor and it was acquired from New Chalet Apartments, Inc., a clandestine disinterestedness accumulation based in Dallas, TX. Jeffrey R. Dunne, of CBRE’s Stamford appointment was the broker.

Located in Mohegan Lake, the circuitous was congenital in the 1990s with units afresh upgraded by the seller. The apartments ambit in admeasurement from 712 to 1,215 aboveboard anxiety and hire from $1,860 to $2,595 per month.

GDC affairs to improve absolute amenities and add added advantage space, including a children’s playground, gazebo/BBQ breadth on the basin and beach clubhouse. The absolute fettle club, pond basin and agriculture will be upgraded. Added amenities accommodate tennis cloister and half-basketball court. There is additionally basin admission for fishing and boarding.

“The improvements we plan to undertake will accomplish this association a abiding abode for association and families to alarm home and appear home to vacation every day,” said GDC Principal Martin Ginsburg.

GDC affairs to accommodate this association to its new development beneath architecture in Peekskill alleged Fort Hill Apartments at the Abbey Inn. Shuttle account will be implemented to affix the two communities and the account to the Metro North alternation station.

● EASTERN CONSOLIDATEDSection 8 portfolio awash for $27M

An un-named clandestine absolute acreage advance close has bought an High West Ancillary Section 8 multifamily portfolio from its longtime client for $27.6 million.

Ron Solarz, Executive Managing Administrator and Principal of Eastern Consolidated, abiding the auction of the 68,200 s/f portfolio comprised of two elevator barrio at 14-18 West 107th Street.

Solarz, represented the adept clandestine owner, and acquired the buyer, a clandestine absolute acreage advance firm. Gary Meese, Chief Director, Financial Services, served as the analyst.

“The asset’s project-based Section 8 cachet and added affordable accommodation apparatus ensure able in-place assets while presenting investors with assorted options and amazing approaching upside potential,” Solarz said.

“The two barrio are in accomplished concrete action as they’ve been well-maintained by the aforementioned client for over three decades.”

Of the 60 units in the two buildings, two are studios, 36 are one-bedrooms, and 22 are two-bedrooms. Mechanical systems are aggregate by both.

The barrio are bisected a block from Central Park and abreast Columbia University.

● CUSHMAN & WAKEFIELDOffers approved for Flatiron building

Cushman & Wakefield is gluttonous offers for a six-story, appointment and retail architecture at 28-30 West 22nd Street in the Flatiron District .

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Bob Knakal, Stephen Palmese, John Ciraulo, Jonathan Hageman, Craig Waggner and James Berluti are alone business the property.

Located in the Ladies’ Mile Historic District, this is the aboriginal time the acreage has been offered for auction in 40 years.

The 35,461 s/f architecture has over 50 anxiety of frontage forth the south ancillary of West 22nd Street and contains two retail units beyond the aboriginal attic and basement.

The high bristles floors accommodate 28,725 rentable aboveboard anxiety of appointment space, breach into six appointment units. The added attic is disconnected into two appropriately sized appointment units, while the actual high floors are full-floor units.

There are additionally “significant” development rights with the acreage that could potentially be acclimated to enlarge the building, according to Knakal,

● REDWOOD REALTY ADVISORSAMS aberration out in Bayonne

AMS Acquisitions, a New York City-based advance firm, has purchased the Silk Lofts architecture in Bayonne, New Jersey for $32.1 actor with affairs to add over 100 new residential units to the affluence rental property.

The architecture at 154 Avenue E is the armpit of the above Maidenform branch that was developed into a avant-garde residential attic architecture in 2009 by developer Doug Stern, of Stern Capital, and Leon Cohen (CSR Group).

AMS will add an added 125-plus apartments to the Silk Lofts armpit and assemble at atomic two new barrio on the parking lots that beleaguer the property.

The five-story Silk Lofts offers a mix of 85 studio, one and two-bedroom apartments alms New York skyline and Bayonne Bridge views.

“Silk Lofts’ location, accommodation architecture and different detail accomplish it one of the best arresting and adorable barrio in Northern New Jersey,” said AMS Acquisitions co-principal Avi Abadie, who said that rental prices in the new Silk Lofts architecture are accepted to ambit from $1,800 a ages for one bedrooms to $2,700 for two bedrooms,.

AMS Acquisitions primarily invests in Manhattan, Brooklyn and Queens, but has afresh amorphous to access able-bodied located, Class A assets in added growing neighborhoods surrounding the city.

This is the company’s added Bayonne purchase. Last June it purchased a retail architecture at 563 Broadway for $1.075 million.

“The burghal of Bayonne is assertive for amazing advance as new developments abide to pop up and adolescent professionals breeze in from Manhattan,” said AMS Acquisitions co-principal Michael Mitnick, abacus that his company’s mixed-use residential backdrop in Queens and Brooklyn accept best commuting times to Manhattan than Bayonne, which is a 25-minute alternation ride to burghal Manhattan.

The architecture is amid three blocks from the 22nd Street Light Rail station.

Redwood Realty Advisors’ Steven Matovski represented both abandon in the transaction, while Redwood Realty Advisors’ Jeremy Wernick co-represented the buyer

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“Silk Lofts will account abundantly from the ever-changing mural and awakening of Bayonne,” said Matovski. “The affection of the asset, location, and advantage for approaching development fabricated this an ideal befalling for AMS.”

● EPIC COMMERCIAL REALTYHotel-condo plan for Bronx property

EPIC Bartering Realty has been retained to agent the auction of 220 East 134th Street, a bartering architecture with development rights in Port Morris, Bronx.

220 East 134th Street a six-story bartering architecture that can be delivered vacant. It consists of 112,190 s/f of development rights (as-of-right residential).

According to EPIC’s Sasi Elya, the client has an advantage to absolutely advance the residential air rights for a multi-family development.

Alternatively, an broker can accept to apparatus affairs already proposed for a 16-story mixed-use architecture consisting of a 75 chargeless bazaar apartments and a 118-room auberge with arena attic restaurant.

The armpit is amid by Third Ave Bridge, aural walking ambit of the 3rd Ave alternation station.

Port Morris is belted on two abandon by baptize ways: The East River and the Harlem River. Some of the factories that still angle are acclimated as accumulator facilities. Others accept been adapted to offices.

Elya, the CEO at EPIC, has listed the alms at $29 million.

● CUSHMAN & WAKEFIELDDelshah planning to brightness LES ‘gemʼ

Delshah Basic has purchased 138 Ludlow Street, a classic, aboriginal 1900s, six-story accommodation on the Lower East Side, for $18.9 million.

The building, which includes 27 rental apartments as able-bodied as a sidewalk-level retail floorplate with 45 ft. of frontage on Ludlow Street, has a mix of one, two and three-bedroom layouts, and the retail amplitude is active currently by two tenants.

Delshah affairs to reposition the property, advance the roof and convalescent accepted areas and abacus affluence finishes to the building’s market-rate and abandoned apartments.

“Despite its acceptable basic and accomplished location, this architecture hasn’t yet been positioned to apprehend its abounding abeyant for value,” said Michael Shah, Delshah’s architect and managing partner.

“We are sitting on a gem, and with our accurate adeptness to transform backdrop and streetscapes we are aflame to bear the abutting ‘newest and nicest’ architecture to the Lower East Side.”

The agent was Trikupa Realty, a Florida-based advance group. Michael DeCheser, chief managing director, Cushman Wakefield, represented both parties.

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● CIGNATURE REALTY Orbach sells Manhattan Valley accommodation building

The Orbach Accumulation has awash a Manhattan Valley accommodation buildind for $12.1 million.

Cignature Realty Associates brokered the auction of the six-story, multifamily acreage at 964 Amsterdam Avenue.

The 21,072 s/f architecture has 22 residential apartments and four retail food and is amid in Manhattan Valley on the west ancillary of Amsterdam Avenue amid West 107th and 108th Streets.

Built in 1900, Orbach paid $7.725 actor for the acreage in 2014, according to burghal records.

Cignature Realty’s Peter Vanderpool represented the buyer, TriArch Absolute Acreage Group, while the firm’s Elan Teichman represented the seller.

● HUDSON CAPITAL PROPERTIESNew Yorkers aggrandize southeastern portfolio

New York-based Hudson Basic Backdrop (HCP) has added 512 units to its southeastern portfolio.

HCP acquired Cary Reserve at Weston, a 288-unit acreage in Cary, NC, for $46.8 actor and Willow Trail, a 224-unit acreage in Norcross, GA, for $19.3M.

“HCP’s accretion action for the Southeast targets high-quality assets in abundant locations, with able abeyant to add amount through our anxious action of addition and amenitization,” said Robert B. Cohen, II, Executive Vice President of HCP.

“Cary Reserve and Willow Trail clothing the action altogether and we’re admiring to auspiciously achieve these affairs and absorb the assets into our accretion portfolio, which now exceeds 6,500 units.”

HCP affairs to advance about $7 actor of added basic into improvements to both apartments and advantage offerings for residents.

● JONATHAN ROSE COMPANIESRose activity affordable in Atlanta

Jonathan Rose Companies, in affiliation with Columbia Residential, has purchased Edgewood Cloister Apartments in Atlanta’s Edgewood neighborhood.

Edgewood Cloister will be redeveloped with a $18 actor basic budget. The garden-style association will abide to be affordable, with 100 percent of units appointed for those at or beneath 60 percent breadth average income.

“Edgewood Cloister represents a agitating befalling to assignment with association and bounded stakeholders to abate and bottle this association amidst a rapidly transforming neighborhood,” said Nathan D. Taft, Managing Administrator of Acquisitions at Jonathan Rose Companies.

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Originally congenital in 1950, again rehabbed in 1981, Edgewood Cloister currently consists of 204 units, all allotment of the federal HUD Section 8 program. Following the renovation, Edgewood Cloister will abide of 222 residences, with 204 actual Section 8 and the blow as affordable tax acclaim units. The property’s Section 8 arrangement is actuality renewed for 20 years.

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