Manhattan

As Manhattan’s Far West Side continues to gain momentum, a prime pre-war mixed-use building on Ninth Avenue has changed hands. New York City-based Stonehenge Partners has acquired 364 West 18^th St. from seller Fortuna Realty Group for $33.8 million, according to Eastern Consolidated, who represented the seller on the deal.

Eastern’s senior director Azita Aghravi and vice chairman Brian Ezratty with senior financial analyst Paul Nigido represented the seller, led by Morris Moinian, the nephew of developer Joe Moinian. The Eastern team also procured the buyer, who is planning to rename the building as "Stonehenge 18" and reposition the property’s apartments and retail. The building, built in 1939, consists of 31 studios and 27 one-bedroom units.

***

Further downtown in NoHo, the “original” Empire State Building has traded. Built in 1897, an entire block-front elevator loft building at 640 Broadway—also known as 172 Crosby St.—was sold in an all cash transaction valued at $32.5 million, according to Massey Knakal Realty Services. Property records indicate that the building was sold to White Plains, NY-based REIT Acadia Realty Trust.

The nine-story, 63,094 square-foot elevator building contains 12 commercial units and 21 residential units. Chairman Robert A. Knakal exclusively handled this transaction with partner James P. Nelson.

***

On the leasing front, law firm Grais & Ellsworth LLP will be relocating from 40 E. 52^nd St. to 1211 Avenue of the Americas, where it will sublease 41,500 square feet. The firm has experienced significant growth over the last 18 months, triggering an immediate need for additional square footage. The firm previously subleased 15,745 square feet at 40 E. 52^nd.

The sub-landlord was represented by Mark Weiss, Moshe Sukenik, Erica Rubinstein and Corey Borg of Newmark Knight Frank. Grais & Ellsworth is scheduled to take occupancy in the first quarter of 2012.

***

Long Island

The Nassau Industrial Development Agency has approved an economic development contract that will allow market research firm NPD Group to undertake an $8 million renovation of its 117,000-square-foot Port Washington headquarters, the IDA revealed late Friday. The action is expected to result in the creation of 50 construction jobs and an additional 10 full-time jobs within Nassau County over a three-year time.

The firm plans construct a new entrance and expand its information technology center at 900 W. Shore Road. It is expected to be completed by third quarter 2013.

***

On the leasing side, Lincoln National Life Insurance Co., a unit of Lincoln Financial Group, has leased 11,000 square feet of office space at T. Weiss Realty’s Melville Corporate Center I at 105 Maxess Road.

The financial services firm joins tenants such as New York University/Polytechnic Institute, Estee Lauder Co. and Safeguard Storage Properties LLC at the 149,000-square-foot class A building in Suffolk County.

***

On the sales front, a 15,000-square-foot industrial warehouse property at 86-90 Denton Ave. in New Hyde Park sold for $1.4 million to wholesale distributor of consumer electronics Computer Add Ons, according to Kalmon Dolgin Affiliates. KDA’s broker Gary Mayzlin represented both the seller, Fischer Real Estate, and the buyer, Computer Add Ons, in the transaction.

***

Connecticut

Retail REIT Urstadt Biddle Properties Inc. closed a $28 million in mortgage financing for the Dock Shopping Center in Stratford, Connecticut with lender ING Life Insurance and Annuity Co. The mortgage financing has a ten-year term with payments based on a 30-year amortization period at a fixed-rate of 4.85% per annum, the company says.

The 271,000-square-foot shopping center is anchored by a 60,000-square-foot Super Stop & Shop and a recently completed 107,000-square-foot BJ’s Wholesale Club. Other tenants at the property include West Marine, Staples, Petco and Citibank.

***

New Jersey

A 30-unit apartment building at 355 Belleville Ave. in Bloomfield commanded a sales price of $2.725 million, according to Marcus & Millichap Real Estate Investment Services. Christopher Rizzolo, an investment specialist in Marcus & Millichap’s New Jersey office brokered the sale between the seller, a local management group, and the buyer, a 1031 exchange buyer from Los Angeles.

The buyer was counseled by local real estate attorney Jonathan Mehl, based in Rutherford. Joshua Lipsey of Marcus & Millichap Capital Corp. arranged the financing on behalf of the buyer.

***