New York
Fairstead Affordable Buys Harlem Apartments for $76M
A HUD Project Based Section 8 contract and HPD Article 11 regulatory agreement will enable the multifamily portfolio to remain affordable for 40 years.
Mack-Cali Chalks Up $820M in Boston, New Jersey Trades
The REIT has completed the $409 million purchase of Liberty Towers in Jersey City as part of a 1031 exchange.
Manhattan Communities Get $119M Refi
The owner secured the Fannie Mae financing in preparation for the expiration of the city’s 421a tax abatement program.
NYC Names 3 Development Teams for Co-Living Pilot
The projects announced as part of the city’s ShareNYC program will produce a total of 300 new units at three locations.
Brooklyn Affordable Community Breaks Ground
Pennrose and RiseBoro Community Partnership are building the 218-unit development in the East New York neighborhood.
RXR Realty Scores $98M Loan for Luxury Connecticut Project
JLL arranged the construction financing for the 325-unit tower in downtown Stamford.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in August 2019 in New York City.
New Jersey Portfolio Deal Scores $228M Loan
Cammeby’s International purchased the six-asset bundle of communities totaling more than 1,800 units.
Manhattan Landmark Gets $386M Refi
Hunton Andrews Kurth LLP advised the owners of 70 Pine St. on the mortgage provided by Goldman Sachs.
Brooklyn gets 58 New Units of Affordable Senior Housing
The 13-story building in the Lefferts Gardens neighborhood has senior-friendly design elements and on-site social services.