Seneca Falls, N.Y. — NorthMarq has secured $2.7 million in acquisition financing for Liberty Center Plaza, an 80,846-square-foot retail property in Seneca Falls. The property’s major tenants include Tractor Supply Company and The Salvation Army. Robert Ranieri of NorthMarq secured the financing on behalf of the undisclosed borrower. Terms of the financing include a seven-year fixed term with a 25-year amortization schedule. The lender was undisclosed.
New York City — Tommy Hilfiger has closed its flagship store on Fifth Avenue in Manhattan, and the apparel retailer also plans to shutter its store on Collins Avenue in Miami on April 28. These moves mark the closing of the only two full-price Tommy Hilfiger stores in North America. According to executives, the closures will enable the company to direct resources and capital toward experimentation with new retail concepts and experiences, with an emphasis on appealing to younger customers. The four-story flagship store originally opened in 2009. Tommy Hilfiger …
New York City — JLL has arranged a $19 million acquisition loan for a mixed-use property in New York City’s SoHo neighborhood of Manhattan. Located at 489 Broadway, the five-story, 10,710-square-foot building was constructed in 1900. The property consists of eight residential and three retail units. Eliott Zeitoune, Michael Diaz, Aaron Appel, David Sitt and Brendan Collins of JLL secured financing on behalf of the borrower, Sherr Equities, through lender Morgan Stanley. Sherr Equities specializes in acquiring mixed-use assets with the intent to restore and redevelop them.
New York City — Cushman & Wakefield has negotiated the $4.7 million sale of a retail co-op unit in New York City’s SoHo neighborhood of Manhattan. Located at 150 Thompson St., the 7,800-square-foot property consists of the ground floor and basement of the five-story, mixed-use co-op. Robert Burton and Bobby Carrozzo of Cushman & Wakefield represented the seller, Schiffini USA, in the transaction. The buyer was home furnishings company Safavieh.
Yonkers, N.Y. — Marcus & Millichap has negotiated the $2.7 million sale of a 9,500-square-foot retail property in Yonkers, New York.
Port Chester, N.Y. — M&J Wilkow and MetLife Investment Management have acquired Port Chester Shopping Center, a 493,459-square-foot shopping center in Port Chester, New York.
New York City — Global coworking provider WeWork has closed on its $850 million purchase of the Lord & Taylor Building, a landmark Midtown Manhattan asset located at 424-434 Fifth Ave. in New York City.
New York City — Saks Fifth Avenue has opened the newly remodeled 53,000-square-foot main floor of its flagship location in Manhattan.
Henrietta, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $20 million sale of South Town Plaza in Henrietta, New York.
Paramus, N.J. — Deka Immobilien GmBH has acquired Paramus Junction, a fully leased, grocery-anchored shopping center located in the New York City suburb of Paramus, New Jersey.