Archive for June 2009
Harlem’s Newest Mixed-Income Co-op Now 75 Percent Under Contract
By Erika Schnitzer, Associate Editor New York—Ellington on the Park, a mixed-income cooperative building in Harlem that is located alongside Jackie Robinson Park at 130 Bradhurst Avenue at 148th Street, recently began sales of its “premier” collection, 23 market-rate units on the top six floors. These homes are part of a $45 million, 12-story, 133-unit…
Read MoreHow Automation and Outsourcing Can Increase a Property’s NOI
By Anuradha Kher, Online News EditorNew York–This is the worst economic downturn since the depression, there is competition from the shadow rental market, renters are doubling up and there are concessions in the apartment market everywhere, explained Diana Mosher, Editor in Chief of Multi-Housing News at the Webinar hosted by the brand on ‘Learning how…
Read MoreHomasote 440 SoundBarrier is Eco-Friendly and Exceeds Building Standards
Homasote 440 SoundBarrier combines wall and floor sound control performance with 98 percent recycled materials and is ideal for use in multi-housing communities.The company’s products have earned the Forest Stewardship Council (FSC) certification, and Homasote 440 SoundBarrier has also received certification from the Collaborative for High Performance Schools (CHPS).The floor/ceiling system, which is moisture- and…
Read MoreTODAY’S DEALS: PNC Originates Over $50M in Financing for 7 MF Properties, and Other Transactions
By Anuradha Kher, Online News EditorTexas, Fla., Calif.–PNC has arranged a combined total of $51.4 million in financing for seven multifamily properties located in Texas, Florida and California, including acquisition financing for two healthcare facilities utilizing the Federal Housing Authority’s (FHA) Section 232/223(f) LEAN program. PNC originated a combined $5.9 million in FHA Section 232/223(f)…
Read MoreRCA: Global Property Sales Volume Nears Rock Bottom–But Recovery Remains Intangible
By Barbra Murray, Contributing EditorNew York–As the recession continues to grip nations around the world, commercial real estate property transactions, including multifamily, are still moving along at a snail’s pace and, in general, without the premium price tags seen just two years ago. Global research and consulting firm Real Capital Analytics concludes in its most…
Read MoreEditor’s Note: Energy Management, Technology and You
By Erika Schnitzer, Associate EditorAt GreenBuildingsNY—held in conjunction with BuildingsNY at the Jacob Javits Convention Center June 16-17—yesterday, I attended U.S. Energy Group’ s presentation, “The Art of Managing Buildings for Energy Efficiency.” David Unger, chief operating officer, discussed how building owners and mangers can reduce fuel usage by 10 to 30 percent by implementing…
Read MoreDept. of Transportation, HUD, EPA Launch Partnership for Sustainable Communities
By Anuradha Kher, Online News EditorWashington, D.C.–The U.S. Department of Transportation (DOT), the U.S. Department of Housing and Urban Development (HUD) and the U.S. Environmental Protection Agency (EPA) have jointly launched an interagency Partnership for Sustainable Communities to help improve access to affordable housing, more transportation options and lower transportation costs while protecting the environment…
Read MoreN.J. Governor Corzine Attends Launch of Affordable Housing Project; Part of Plan to Construct 14 Such Projects Across State
By Anuradha Kher, Online News Editor Union City/West New York, N.J.–Governor of New Jersey Jon Corzine and New Jersey Department of Community Affairs Commissioner Joseph Doria attended the launch of plans for Horizon Heights, an affordable housing property that straddles West New York and Union City, N.J. Horizon Heights is part of a plan to…
Read MoreMARKET SNAPSHOT: Music City USA’s Apartment Market Remains Relatively Stable
By Erika Schnitzer, Associate Editor Nashville, Tenn.—Compared with other Southeast markets, “Nashville is, in general, the best story,” reports Vince Lefler, an associate in Apartment Realty Advisors’ Atlanta office.On a year-over-year comparison, the market is softer, having declined 3 percent in terms of occupancy. However, the market is still holding steady at about 90 percent.…
Read More‘The Green Picture’ with Erika Schnitzer: Energy Management, Technology and You
At GreenBuildingsNY—held in conjunction with BuildingsNY at the Jacob Javits Convention Center June 16-17—yesterday, I attended U.S. Energy Group’ s presentation, “The Art of Managing Buildings for Energy Efficiency.” David Unger, chief operating officer, discussed how building owners and mangers can reduce fuel usage by 10 to 30 percent by implementing an energy management system.…
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