New York
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in June 2019 in New York City.
NYC Moves Forward on $260M Harlem Project
Empire State Development approved a modified plan along with $4.5 million in grants for the redevelopment project, which will include more than 170 affordable and supportive housing units.
Exact Capital Rehabs 19 Buildings in the Bronx
The firm has teamed up with Bronx Shepherd Restoration Corp. to renovate and preserve 333 affordable apartments and four retail spaces across the New York City borough.
Manhattan Affordable Project Lands $223M in Financing
L+M Development Partners, Jonathan Rose Cos. and Acacia Network are developing Sendero Verde, a 100 percent affordable Passive House community in East Harlem.
Landlords File Lawsuit Challenging New Rent Laws
As expected, a group of landlords and two trade groups filed a federal lawsuit alleging that the new rent laws in New York violate the Constitution.
Harbor Group Buys Brooklyn Community for $117M
The 193-unit rental property, named The Frederick, was built in 2017 and is located in the popular Crown Heights neighborhood.
Brooklyn Multifamily Report – Summer 2019
The borough’s apartment supply and demand remained in relative balance amid New York City’s new rent regulations.
Related Cos. Sells Affordable South Bronx Community
Prana Investments purchased the 252-unit River Court and Gerard Court. Hodges Ward Elliott’s Daniel Parker, Paul Gillen and Ariel Tambor acted on behalf of the seller.
Strategic Capital Scores $70M Loan for NY Tower
NKF arranged the financing on behalf of the Chinese-backed developer. The 213-unit luxury community in Yonkers, River Club at Hudson Park, is currently being leased.
NY Student Housing Asset Changes Hands
The community serves students attending Binghamton University and includes units raging from one- to six-bedrooms. Vesper Holdings acquired the asset.