24 Hour Local Real Estate News

Middle Market Digest: This Week in the Northeast

Here is a roundup of the latest leases, sales and other transactions in the Northeast middle markets.

NEWS & NOTABLES

Nilgun FoleyMT. LAUREL, NJ—NAI Mertz—a commercial real estate firm serving southern New Jersey and greater Philadelphia—has hired Nilgün Foley as sales associate in its headquarters office here. Raised in Istanbul, Turkey, she brings banking and international corporate experience to NAI Mertz. She has worked overseas in Istanbul, Frankfurt and London. Foley has held lending, relationship management and financial planning positions in global firms such as the Bank of Boston and Lafarge, S.A. In addition, she served in finance and consultant positions in service sector businesses.

Peter MelvilleROSLINDALE, MA—The Cooperative Bank—a community bank specializing in commercial real estate and business lending throughout Eastern Massachusetts—has hired Peter Melville as mortgage loan originator. He has over 30 years of experience with expertise in mortgage loan lending, residential mortgages, and loan origination. Prior to TCB, Melville served as an education solutions specialist at Dell EMC and previously held positions at Citibank, Sovereign Bank, and Citizens Bank.

Peter CosentinoMINEOLA, NY—The Long Island Real Estate Group has appointed real estate developer Peter Cosentino to its executive board. He is president and founder of Commack, NY-based Cosentino Realty Group. He started his industry career alongside his late father, Peter Sr., and his brother, Michael, in a general contracting business where he learned the intricacies of construction.  The business later expanded into real estate development and management.

NEW YORK CITY—Blink Fitness, the value-based fitness club, has revealed plans to  expanding its footprint by entering the metro Philadelphia area this year and in 2018. The company is established here with more than 50 open locations and 300,000 members. The first four locations that will open are Whitman Plaza, South Philly, at 330 W. Oregon Ave, in Q2; Shelly Plaza, North Philly, at 8914 Frankford Ave., in Q2; Willingboro, NJ at 498 Beverly Rancocas Rd., in Q2 and at the Shoppes at Wissinoming: at the intersection of Harbison and Tulip, in Q1 of next year.

MONEY MOVES

320 Summer (BOSTON, MA—Holliday Fenoglio Fowler has secured $63 million in financing for 320 and 333 Summer St., two office properties totaling 217,000 square feet in the Seaport District here. Working on behalf of the borrower, ASB Real Estate Investments, HFF placed the 10-year, 3.65%, fixed-rate loan with The Hartford Financial Services Group. The buildings are owned by ASB’s Allegiance Fund, a $6.8 billion, open-end core investment vehicle, in joint venture with Lincoln Property Company. The HFF debt placement team representing the borrower was led by senior managing director Frederic Wittmann and director Brett Paulsrud.

418 East 71st StreetNEW YORK CITY—Meridian Capital Group has secured $6.4 million to refinance a commercial property on Manhattan’s Upper East Side. The five-year loan—provided by a regional balance sheet lender, features a competitive fixed rate of 3.75% and a five-year extension option. The transaction was negotiated by Meridian Managing Director Brian Flax and associates Blake Orman and Ami Levin. Located at 418 E. 71st St., the seven-story, seven-unit commercial property previously was a medical office building occupied by Cornell Medical College. Built in 1910, the pre-war property is in close proximity to the Franklin D. Roosevelt East River Drive and the 4, 5, 6, F, N, Q and R subway lines.

DEALTRACKER DAILY

575 LexingtonNEW YORK CITY—Maison Kayser has completed a lease to occupy retail space at 575 Lexington Ave., George Comfort & Sons’ Class-A office tower in the Plaza district. Under the 15-year lease, the bakery and café will occupy 3,287 square feet on the ground floor and an additional 2,393 square feet of basement space. Maison Kayser was represented in the transaction by Davie Berke and Paul Berkman of JLL.  George Comfort & Sons was represented in-house by Peter S. Duncan, president and CEO; Dana Pike, SVP and Andrew Conrad, senior associate of asset management and, from RKF,  Jackie Totolo, Ariel Schuster and Michael Paster.

 

 

Copyright 2017. ALM Media Properties, LLC. All rights reserved.