New York
JV Completes Phase II of NJ Luxury Tower
SJP Properties, Northwestern Mutual Life Insurance Co. and PGIM Real Estate have finished work on The Modern in Fort Lee, which comprises 900 units and a bowling alley, an arcade room and an infinity pool.
Dalan Management, Elion Partners Acquire Adjacent 2 Assets in Manhattan
The joint venture purchased adjacent buildings on the Upper West Side, totaling 68 units, for $66 million from AAG Management.
Cartus Selects New CEO
Katrina Helmkamp will step up as the leader of Realogy Holdings’ relocation services subsidiary, building on executive roles at Lenox, SVP Worldwide and Whirlpool.
JV Secures $251M for NYC Condo Project
CB Developers, SK Development and Ironstate Development are constructing 646 11th Ave. in the Hell’s Kitchen neighborhood. When completed, the community will include 222 condos and 60 for-sale storage units.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales recorded in May 2018 in New York City.
Brooklyn Luxury Community Receives $68M
Canadian Imperial Bank of Commerce originated the two-year loan for Trinity Place Holdings’ building, which features 105 units and 6,200 square feet of retail space.
Greystone Names New Managing Director
George Kenny brings three decades of mortgage and securitization experience to his new position. His previous employers include Starwood Property Trust, UBS and Bank of America.
Long Island Senior Community Receives $10M HUD Loan
Located 45 minutes from Manhattan, Birchwood Suites in East Northport, N.Y., landed the refinancing loan through HUD’s Section 232 pursuant to Section 223(f) funding program.
Manhattan Luxury Condos Land $168M
The Continuum Co.’s Madison Square Park Tower recorded intense sales activity, with 58 out of 83 units already sold for a combined $400 million.
$21M NY Affordable Housing Redevelopment Opens
Chappaqua Crossing Apartments in Westchester County, the former site of the Reader’s Digest headquarters, features 64 mixed-income units and access to a playground, a clubroom and walking trails.