New York
BH3 Buys $195M Loan on Distressed NYC Skyscraper
The real estate investment firm has taken over the defaulted mortgage on 125 Greenwich St., an 88-story luxury condo tower in Manhattan’s Financial District that topped out earlier this year.
L+M, Invesco Partner for $1.2B NYC Housing Deal
The duo agreed to buy more than 2,800 market-rate apartments in Manhattan from Urban American and Brookfield Asset Management and will restore the affordability of more than 1,800 units.
Podcast: Unpacking New York’s Rent Law Changes
Jonathan Woloshin of UBS discusses the significant impact these reforms could have on the multifamily investment business in New York and the rest of the country.
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.