News
Harlem Cooperative Picks Halstead as Property Manager
Maple Plaza, a New York City Housing Development Corp. cooperative at 1919 Madison Ave. in central Harlem, has tapped Halstead Management Company LLC to provide property management for the building.
TODAY’S DEALS: Berzack Completes Sale of Mixed-Use Land Site for 54 Apts.
An apartment site entitled for 54 units was sold in N. Hollywood, Calif.; and Essex brokers the sale of a building In Evanston, Ill.
Supportive Veteran Housing Community Opens on Former Indianapolis Brownfield Site
Timed to coincide with the 150th anniversary of President Lincoln’s Gettysburg Address, members of public and private organizations along with the City of Indianapolis held a ribbon cutting ceremony Tuesday to mark the opening of The Lincoln Apartments, a 75-unit supportive housing community that will serve homeless veterans.
The Community Preservation Corporation Appoints NYS Affordable Housing Industry Leader to its Board
The Community Preservation Corporation, a mortgage lender for multifamily affordable housing, announced today the appointment of Felice Michetti to its board.
Construction Starts on Ismael Leyva Architects’ Designed Condominium
Construction got underway this fall on The Charles, a new luxury residential building at 1355 First Ave. on Manhattan’s Upper East Side.
Economy Watch: Bernanke Defends Fed Stimulus
Probably with an eye toward his legacy, Fed Chairman Ben Bernanke spoke at the National Economists Club Annual Dinner in Washington, defending his actions as chairman and offering some reasons for the continued bond-buying program.
Investors Buy Value-Add Apartments in SW D.C.
An investor group that includes Urban Investment Partners, PRP and Perseus Realty has acquired the 289-unit Capitol Park Towers apartment community at 301 G Street, SW, in Washington, D.C. The property is just south of I-395 in the Southwest Waterfront district.
APARTMENT MARKET STATISTICS: November 2013
Apartment transactions fell in the second quarter 2013 to $16.97 billion from the first quarter, according to PPR, a Costar company. Meanwhile, apartment completions increased by 64 percent in the second quarter in the top 30 metros, reports Marcus & Millichap.
TODAY’S DEALS: Advenir Acquires 400 Units in North Miami
Advenir completes a $44.5 million acquisition; NorthMarq arranges $89.1 million to refinance a California portfolio; and Centerline provides a $19.5 million Fannie Mae refinance and obtains waivers for a Baltimore property in less than 60 days.
Multiple Partners Unveil HANAC-PCA Senior Residence in Queens
Multiple federal and state government agencies, along with members of non-profit organizations, politicians and residents celebrated the grand opening of HANAC-PCA Senior Residences Friday in the Astoria section of Queens, N.Y.