Deals & deeds: Simone adds to medical office portfolio
Simone Development Cos. closed last month on its $11 million purchase of 1034 N. Broadway, a two-story, approximately 24,000-square-foot medical office and retail building that adjoins the South Westchester Executive Park in Yonkers.
The seller, 1034 N. Bway L.L.C., has an office in Nanuet. The company is led by Frank E. Ricciardelli, a Realtor in Sarasota, Fla.
Simone”™s purchasing entity, 1034 North Broadway Realty L.L.C., took out a $1.41 million gap mortgage on the property with Sterling Bank.
A former New Rochelle company, Simone Development Cos. is headquartered in the Bronx.
White Plains multifamily high-rise sold
Two Queens real estate companies have closed on a $24.25 million deal for 235 S. Lexington Ave., a 13-story, 186-unit apartment tower in White Plains.
South Lexington Associates L.L.C., an entity of Pistilli Realty Group in Astoria, acquired the 222,155-square-foot property from Lexington Hills L.L.C., an entity of Bronstein Properties in Forest Hills. Pistilli paid about $109 per square foot for the 46-year-old building on 1.8 acres.
Restaurateurs lease Rye Ridge space
Owners of Fortina of Armonk have leased a 3,200-square-foot space in the Rye Ridge Shopping Center in Rye Brook and plan to open their second Italian restaurant there this fall. The space was recently vacated by Racanelli”™s Pizza & Brew, said Erin Hinchey, the shopping center”™s leasing agent at Win Properties Inc.
John Nealon, Rob Krauss and Christian Petroni opened their original Fortina restaurant in Armonk one year ago, offering diners Italian food cooked in wood-fired ovens.
“We literally had more interest in this space than any other in the shopping center,” Hinchey said in a press release. “We had a very lengthy list of national, regional and local players all vying for the space. We chose Fortina because we know they will provide an exceptional dining experience, in a casual but hip environment that will be well suited for families as well as foodies, and that”™s ultimately what our shoppers wanted.”
CMS tops$1M in housing loans
Officials at CMS Bank headquarters in White Plains recently announced the community bank has completed more than $1 million in mortgage loans to families for affordable housing in Westchester.
Some of the loans were for residences at the recently completed Comstock Heights Condominium in Briarcliff Manor while others have been made at Cottage Landings, an 18-unit condominium development in Rye.
Bank officials in a press release said CMS is working closely with the Housing Action Council, a Tarrytown-based nonprofit whose mission is to expand housing opportunities for moderate-income households throughout the Hudson Valley. The bank and its community partner are also helping Westchester County comply with its affordable housing settlement with the U.S Department of Housing and Urban Development.
“As a local community bank, CMS”™s goal is to help families achieve the American dream of homeownership,” John Ritacco, president and CEO of CMS Bank, said in the press release. “Providing mortgages to low- and moderate-income borrowers is in keeping with the bank”™s mission to serve our local community.”
CMS Bank has branches in Eastchester, West Harrison, Greenburgh, Mount Vernon and Mount Kisco.