Sales Beat

Emmes Pays $151 M. for 180 Water Street

180

Emmes Asset Management has purchased 180 Water Street for $151 million, where the firm said it may reposition the asset.

The city’s Human Resources Administration plans to move out of the 24-story, 453,857-square-foot office tower and into 4 World Trade Center in 2015.

“We’re trying to evaluate the property’s highest and best use,” Richard Coles, Read More

Sales Beat

Harbor Group International Takes Two Manhattan Properties for $20.3M Amid Emmes Asset Management Selloff

1420 Broadway

Harbor Group International has closed on the acquisition of 1420 Broadway and 246-248 West 125th Street for a combined $20.3 million.

The first building is located adjacent to the firm’s New York headquarters at 1412 Broadway, owned by an HGI affiliate, and the latter lies amid Harlem’s burgeoning retail sector.

The property at 1420 Broadway is a three-story, 7,200-square-foot building constructed in 1911 and located between the Times Square and 34th Street retail corridors. Read More

Mortgage Beat

Meridian Arranges $13 Million Loan for Flatbush Retail

1875-1925 Nostrand Avenue.

Meridian Capital Group has arranged a $13 million loan for a 35,000-square-foot strip of retail buildings at 1875-1925 Nostrand Avenue in the Flatbush section of Brooklyn. The loan, financed by a local community bank, permitted an entity controlled by real estate investors Isaac and Billy Shalom to close the purchase of the property, The Mortgage Observer has learned. Read More