News
Products & Services: Green Revolution
Large-scale green building materials companies seem to be burgeoning in the U.S. green construction market, and it is important to note that often, the greenest building supplies are those that come from vendors near the source of a project. Reclaimed materials such as lumber can be repurposed for a variety of different uses including siding, fencing and flooring, just as chunks of ripped out sidewalk from a municipal project can be re-used as retaining walls or stepping stones for pathways.
Cover Story: Green Amenities
Light glistens off of the dew drops that have collected on the rough tops of blue-green Lacinato kale leaves revealing tiny rainbows as it refracts the sun’s rays. A few feet away, fava bean seedlings have pushed through the overwinter compost and have begun their ascent to maturity, and by harvest time they will have helped fix enough nitrogen into the soil to fuel next season’s rotation of leafy greens like rainbow chard, arugula and New Zealand spinach.
Market Report: The Big Apple is Tasty
New York City multifamily assets saw aggressively higher prices throughout all submarkets and pricing metrics in 2013 as demand, driven by rising rents and low interest rates, continued to outpace supply. Average capitalization rates dropped while gross rent multiples, prices per square foot, and prices per unit rose.
Finance: GSE Reform-What’s Next
Fannie Mae and Freddie Mac have done considerably better than expected since going into government conservatorship in 2008, even as the Federal Housing Finance Agency (FHFA) has attempted to restrict their activities.
Massive Harlem Mulitfamily Renovation Under Way
Work has started on the first phase of the redevelopment of Randolph Houses, which are in central Harlem in Manhattan.
TODAY’S DEALS: Luxury NYC Adaptive Reuse Sells of $126M
Eastern Consolidated arranges the sale of a hotel-to-apartment conversion in New York; Berkadia originates $12 million for a Seattle community; and Hendricks-Berkadia negotiates the sales of two Tampa communities for more than $10 million.
Gilbane Development Launches Brown University Student Housing
Ground has been broken on the first purpose-built student housing community in Providence, R.I.
CoreLogic Expands Tenant Screening Services
CoreLogic, a global property information, analytics and data-enabled services provider, today announced the expansion of its tenant screening services to deliver enhanced data for rental applicant screenings for single-family rentals and the “small-landlord” market.
Economy Watch: ULI/E&Y Forecast More Optimistic Than Before
The latest semi-annual ULI/E&Y Real Estate Consensus Forecast predicts that U.S. commercial property transaction volume will reach $430 billion by 2016, exceeding the volume of 2006—the last year before the bubble popped.
Manna Inc. Buys DC Apartment Community
The 44-unit Vito Terrace Apartments in northwest Washington, D.C., has traded hands for an unspecified price.