Stamford, CT—RLB Holdings named Newmark Knight Frank exclusive agent for the sale of a boutique, mixed-use asset at 343 Greenwich Avenue in Greenwich, CT. The NKF team of executive vice president James Ritman and associate director Janey Steinmetz, along with NKF Capital Markets senior managing director Jennifer Schwartzman will be marketing the property. 343 Greenwich Avenue is located on the most desirable block of Greenwich Avenue, between Havemeyer Place and Fawcett Place, which features prime retailers such as Tesla, Richards, Apple, Rodd & Gunn, Athleta, Restoration Hardware, Alice + Olivia, Gaia and Bistro Versailles. Other vendors within a four-minute walk from the property include Hermes, Tiffany & Co., Tory Burch and Betteridge Jewelers, as well as restaurants Elm Street Oyster House, The Perfect Provenance, and Harvest. The 100-percent-leased property encompasses 4,700 square feet, divided between 1,700 square feet on the ground floor and 1,500 square feet each on the 2nd and 3rd floors. The third floor comprises a newly designed and constructed one-bedroom apartment with balcony. The ground floor retail space is fully occupied by Splendid, a vendor of casual women's wear, while the recently renovated office space on the second floor is tenanted by RLB Holdings. With in-place tenants, the property will provide immediate returns on investment.

NEW YORK, NY – Madison Realty Capital provided a $16.5 million acquisition and construction financing package collateralized by a partially-constructed hotel development in Long Island City, Queens. The borrower, an affiliate of Sam Chang's McSam Hotel Group, acquired 38-04 11^th Street and plans to construct a 148-key hotel comprising 55,630 square feet on the site. The previous owner had secured approvals, cleared previous structures from the site, and completely built the foundation. McSam, a leading hotel developer in New York, plans to complete construction of the building within approximately 15-18 months. McSam has already engaged Gene Kaufman as architect to increase the room count and to create a more efficient and desirable layout within the property. MRC funded $4 million at closing for site acquisition, and has committed to fund an additional $12.5 million to complete construction of the project. The $16.5 million financing package MRC is providing represents approximately 70 percent of the total project cost.

MIDDLETOWN, NY—Concord Capital New York, a Rockland County investment firm, has purchased Playtogs Shopping Plaza, an 800,000 square-foot mixed-use site with over 200,000 rentable square feet. The site is located on the border of Middletown and Wallkill in Orange County, NY. The site known as Playtogs Plaza—a 203,000 square-foot four building community retail center with over 40 retail stores/spaces—is 40 percent leased with a diverse mix of national and local tenants that include: Family Dollar, TD Bank, Rent-A-Center and Mavis Discount Tire, Carvel, Middletown Cinemas and others. Completed in 1986, the center also features a large parking lot which abuts the national wholesale liquidator's lot and allows parking for nearly 1,000 cars. Concord Capital New York will rename the site: Middletown Plaza and Playtogs Corporate Center.

Money Moves

NEW YORK, NY—Tarter Krinsky & Drogin named Cathleen Cassidy a senior associate with the firm. Cassidy represents owners and developers in transactional construction matters. She drafts and negotiates license, access, design and construction agreements. As a litigator, she has experience litigating claims related to license and access agreements as well as construction contracts.

PHILADELPHIA, PA—Plans are underway to develop a vacant property at 1499 S. Christopher Columbus Blvd. Nationwide private lending firm Silver Arch Capital Partners announced today the closing of a $15 million land loan for two of the site's six parcels. The borrower used the loan proceeds to purchase the waterfront property, known as 1401 and 1401 R-S Christopher Columbus Blvd. A mixed-use development is planned for the 22.39-acre waterfront area. The proposed site plan includes the construction of up to 235 luxury townhomes along the scenic Delaware River, boat slips for owner's watercraft, outdoor recreational activity and a riverfront cafe.

FAIRFIELD, NJ—Woodmont Properties promoted Stephanie Smith (pictured) to regional community manager and Jillian Porzio to community manager at Woodmont Ridge at Upper Macungie. As regional community manager, Smith will work with Louis Devos and regional community manager John Santavicca to manage Woodmont's growing portfolio and assure outstanding service to its residents. Her responsibilities will include overseeing daily operations at multiple New Jersey Woodmont Properties communities, including: Woodmont Knolls, Woodmont Square, Woodmont Station, Woodmont Cove and Woodmont Metro.

SYRACUSE, NY—Arbor Realty Trust funded a $41.65 million bridge loan for the acquisition of James Square Health and Rehabilitation Center, a 440-bed skilled nursing facility located in Syracuse, NY. Alexander Kaushansky, vice president-originations at Arbor Realty Trust, arranged financing for the property, which offers long-term nursing and rehabilitation services. The bridge loan carries an initial term of 36 months and was underwritten with plans for a HUD takeout loan upon completion of the business plan.

WASHINGTON TOWNSHIP, NJ—Procision Business Brokers and Commercial Realty named Marc Greisler as Vice President of Retail. As a well-established commercial real estate professional, Marc brings vast experience in various real estate services, including investment sales, leasing, asset management, development and finance. During his stellar career, he has specialized in highway commercial, shopping centers and triple-net investment sales throughout the mid-Atlantic region and nationally. A graduate of St. John's University, he previously worked for Marcus & Millichap and Gelcor Realty.