City: Long Island

NorthMarq Capital has provided $77.4 million of Freddie Mac financing for the Fairhaven Apartments, a portfolio of five properties with 1,188 units on Long Island, N.Y.The mortgage bank's Long Island office arranged the debt, which pays an adjustable rate over ...

Bank of America has provided $47 million of floating-rate debt for Cortlandt Towne Center, a 640,000-square-foot shopping center in Westchester County, N.Y.The property was acquired by Acadia Realty Trust earlier this year for $78 million from Centro Properties Group. Acadia ...

Commercial Real Estate Direct Staff ReportSunstone Hotel Investors said it has decided to stop the "subsidization" of the debt-service requirement for a $29.5 million mortgage on its Renaissance Westchester, a 357-room hotel in White Plains, N.Y.The mortgage is the second ...

Commercial Real Estate Direct Staff Report An investor group's lawsuit alleging that a $65 million securitized loan it got for a Long Island, N.Y., shopping center was based on an inflated appraisal has been thrown out by the judge hearing ...

Wells Fargo & Co. has originated a $40.3 million Freddie Mac loan in order to refinance the Gramercy, a 260-unit apartment complex in White Plains, N.Y.The loan, an uncapped adjustable-rate mortgage with a seven-year term, amortizes over a 30-year schedule. ...

NewsdayFirst quarter leasing volume in the Long Island, N.Y., office market dropped 50 percent from the year-ago period to 352,000 square feet, according to CB Richard Ellis. The market's average asking rent dropped 2 percent to $27.26/sf.

Commercial Real Estate Direct Staff ReportThe owner of a shopping center on New York's Long Island has sued his lender and loan servicers, alleging that the property's $65 million loan was based on an inflated valuation.The loan is the seventh ...

Commercial Real Estate Direct Staff ReportA securitized $124 million mortgage on The Source, a 726,378-square-foot enclosed shopping center in Westbury, N.Y., was not refinanced when it matured last month.The expectation is that a growing volume of securitized loans will fall ...

Maguire Properties Inc. has completed the $22 million sale of 18581 Teller, an 86,087-square-foot office building in Irvine, Calif.The heavily leveraged Los Angeles REIT said it sold the 26-year-old building to Allergan Inc., a healthcare-products company that is one of ...

The Hampshire Cos. bought 52,500 square feet of office and industrial space in Hauppauge, N.Y., from Siemens Energy and Automation. The Morristown, N.J., firm bought a 20,000-sf office building at 155 Plant Ave. and a 32,500-sf industrial facility at 75 ...