Gabriel Frank is an Associate Editor with Multi-Housing News and Commercial Property Executive. He covers news and industry trends across the multifamily and commercial real estate sectors. He lives in New York City.
The second venture between MAG and Safanad will be developed under the Affordable NY Program.
The luxury community will be located within 45 minutes of midtown Manhattan.
The buyer is planning a number of upgrades to the 11-building asset.
This project starts a two-phase development geared toward middle-income residents.
The development is the firm’s first foray into the multifamily sector.
Industry experts weigh in following the Federal Reserve’s latest decision on interest rates.