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Luxury Tower Under Construction Hits Market with One-third of Units Already Sold

Luxury Tower Under Construction Hits Market with One-third of Units Already Sold

An announcement made by the development team behind a much-anticipated residential tower in Midtown Manhattan shows once again that the luxury market in New York City is anything but boring these days.…

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Orbach Group Pays $70M for Manhattan Portfolio; Extell Sells Retail Condo at the International Gem Tower

Orbach Group Pays $70M for Manhattan Portfolio; Extell Sells Retail Condo at the International Gem Tower

The Orbach Group, a New York-based real estate management and investment company, has expanded its New York City apartment portfolio with three new acquisitions totaling around $70 million. The seller, Dermot Company, was represented in the transaction by Andrew Scandalios of HFF.…

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Construction Breaks Ground on 925-unit Multifamily Project in Long Island City

Construction Breaks Ground on 925-unit Multifamily Project in Long Island City

March 4 marked the official groundbreaking of the initial phase of Hunter’s Point South, the biggest affordable housing project in New York City in 40 years. A $332 million joint venture between Phipps Houses, Related Companies, and Monadnock Construction, the project is located on a 30-acre site on the Long…

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Harlem’s Victoria Theater to Be Reborn as Mixed-Use Cultural Venue

Harlem’s Victoria Theater to Be Reborn as Mixed-Use Cultural Venue

Harlem’s historic Victoria Theater on 125th Street will undergo a $142 million renovation spearheaded by Danforth Development Partners and Exact Capital.…

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Green Affordable Housing Building Opens in the Bronx

Green Affordable Housing Building Opens in the Bronx

A new low-income, eco-friendly residential building in the Bronx was officially opened on February 21 during a ribbon cutting ceremony hosted by the New York City Housing Authority (NYCHA). Located at 770 East 166th Street at Tinton Avenue in Morrisania, the nearly $38 million project was built by Blue…

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Long-Anticipated Senior Living Center Coming to Staten Island

Long-Anticipated Senior Living Center Coming to Staten Island

An almost two-decade effort initiated by the Metropolitan Council on Jewish Poverty (known as the Met Council), the project is backed by $36 million in tax exemptions through the city’s BuildNYC Resource Corporation--a NYCEDC-administered organization whose main goal is to facilitate access to tax-exempt bond financing for non-profit institutions--and a…

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East Harlem Center for Living and Learning Breaks Ground

East Harlem Center for Living and Learning Breaks Ground

Ground has been broken on East Harlem Center for Living and Learning, a new 151,000-square-foot mixed-use development to offer 88 affordable apartments, a 58,000-square-foot K-8 charter school and more than 6,000 square feet of office space to be used by not-for-profit organizations.…

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Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC

Long Island City Building Gets $120M Financing; The Edge Is Top Selling Building in NYC

By Veronica Grecu, Associate Editor One of the leading commercial real estate finance companies in the U.S., Walker & Dunlop LLC of Bethesda, Md., recently announced that it provided $120 million financing for a high-rise apartment building in Long Island City, N.Y. The financing team lead by Walker & Dunlop’s…

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Micro-Housing to Solve Apartment Crisis in NYC?

Micro-Housing to Solve Apartment Crisis in NYC?

The lack of inventory and skyrocketing rent prices have forced New Yorkers to reconsider their housing options or look for new solutions to transform their notoriously tiny apartments into multifunctional homes.…

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Brookfield Breaks Ground on $4.5 Billion Manhattan West Development

Brookfield Breaks Ground on $4.5 Billion Manhattan West Development

The first phase of Brookfield Office Properties’ newest and largest development project in New York City kicked off on January 15 with a groundbreaking event in the presence of Mayor Michael Bloomberg and other city and real estate officials.…

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Work Imminent on Mixed-Use Tower in Meatpacking District

Work Imminent on Mixed-Use Tower in Meatpacking District

Property Group Partners and landlord Romanoff Equities have joined forces to replace a former meat processing facility in New York’s Meatpacking District with a mixed-use complex that would stand as a prominent structure in the neighborhood. Designed by James Carpenter Design Associates architectural firm in cooperation with Gerner Kronick &…

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Developer Announces $67M Mixed-Income Rental Building in Greenpoint

Developer Announces $67M Mixed-Income Rental Building in Greenpoint

The Domain Companies, a real estate investment and development firm based in New Orleans, officially announced last week that it has secured financing of a new mixed-income development in Greenpoint, Brooklyn’s northernmost neighborhood, through a mix of loans at below-market interest rates from the New York City Housing Development Corporation…

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