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Stenson of Brax Realty completes $4.75 million off-market sale

Manhattan, NY Alan Stenson, senior director of Brax Realty brokered the off-market sale of a 340 West 48th St. The sale price was $4.75 million. The property is between 8th and 9th Aves. and contains 15 apartments.  Stenson represented the seller, 340 West 48th Street LLC and this was the first time in over 44 years the building traded hands. The property was built in 1920 and is comprised of 15 apartments with 25’ frontage. 14 of the 15 apartments are studios and the remaining unit is a one-bedroom. 

Curto to chair litigation practice group at Forchelli Deegan Terrana

Uniondale, NY According to Forchelli Deegan Terrana LLP, partner Andrew Curto is now chair of the litigation practice group.  

Hakimian joins AssetCRG as associate broker in the investment sales division

Queens, NY Daniel Hakimian joined AssetCRG in December of 2018 as an associate broker in the investment sales division. Hakimian specializes in all asset classes with a keen eye for value-add potential either through below market rents, un-used air rights, and conversion opportunities. 

Helmsley Spear partners with Hercules SEZC for blockchain technology

Manhattan, NY Helmsley Spear, LLC is collaborating with Hercules SEZC, a blockchain-based supply chain software company, in the initial phase of documenting rent rolls for Helmsley Spear’s commercial leases and providing confidentiality and indisputable historical building documentation for two of its properties in the borough.

Outside the Region: Groblewski and Feig of Fantini & Gorga place $11.5 million construction loan

Lake Worth, FL Fantini & Gorga arranged an $11.5 million first mortgage loan for the construction of a self-storage facility. Casimir...

Short of Arbor funds $151.3 million for multifamily portfolio in New York City

New York, NY Arbor Realty Trust, Inc. has funded a loan for a multifamily property portfolio. These properties received $151.3 million in total funding through the Freddie Mac SBL product, making this transaction one of the largest portfolios since the inception of the program. Ari Short of Arbor’s local office originated the loan. 

Outside the Region: Hunt Real Estate Capital refinances Philadelphia multifamily – $5.85 million

Philadelphia, PA Hunt Real Estate Capital provided a $5.85 million Freddie Mac Small Balance loan to refinance a multifamily property locate...

Outside the Region: Praedium Group acquires Arlington Commons

North Arlington, TX The Praedium Group has acquired Arlington Commons according to Peter Calatozzo, managing director of The Praedium Group....

Outside the Region: Gorjian Acquisitions buys two WI properties

Milwaukee, WI Joel Gorjian, a national real estate investor and president & CEO of Gorjian Acquisitions, has purchased two retail and of...

Outside the Region: Dimant of Greystone originates $14 million loan

Johnson County, KS Greystone has provided $14 million in bridge financing for the acquisition of a 130-bed skilled nursing facility. The tra...