New York
NYC Details $24B Public Housing Upgrade
Transfer to Preserve is among several programs launched by Mayor Bill de Blasio’s administration to raise capital for repairs at the city’s NYCHA sites.
Brooklyn Community Secures $113M Refi
Goldman Sachs originated the new loan, which pays down a previous $120 million construction mortgage for the 2016-built luxury property.
$125M Loan Awarded to NYC Luxury Building
Germany-based commercial bank Helaba provided the loan package to Stellar Management in a transaction brokered by Cushman & Wakefield.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in November 2018 in New York City.
NYC Healthcare Facility Secures $24M Refi
The 200-bed Eastchester Rehab & Health Care Center will use a portion of the proceeds for renovations to the facility.
Journal Squared’s Tallest Building Underway in Jersey City
Construction is in progress at Kushner Real Estate Group’s 71-story, 704-unit tower that’s part of the three-building Journal Squared project in New Jersey.
Luxury Tower Completed in Manhattan
Torkian Group’s 223-unit residential building near the Empire State Building features a complex cantilevered design. The project’s location near rail tunnels and Penn Station posed logistical challenges for Cauldwell Wingate, the project’s construction manager.
Harbor Group-Led JV Buys NY High-Rise for $260M
HFF marketed the 40-story luxury tower in Westchester County exclusively on behalf of the seller, Boston-based DSF Group.
JV Breaks Ground on NY Student Housing Community
Upon completion in May 2020, the 64,000-square-foot property will offer 80 units serving students attending Columbia University. The development is located adjacent to the university.
Cutting Costs, Overcoming Construction Challenges in NYC
Broadway Construction Group’s Joseph Aiello shares his insights on the role value engineering plays in the development challenges.