New York
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for December 2017 in New York City.
Northern NJ Development Site Trades for $17M
The upcoming apartment community will be located on a former fuel farm, previously owned by Hess Corp. River Development acquired the facility in 2014, and has since demolished it, preparing the riverfront for luxury apartments.
Community Builders Procures $38M to Develop NY Apartments
Cottage Place Gardens Phase III is a 70-unit, mixed-income property in Yonkers. The project involves the replacement of a 1940’s housing project and a deteriorated townhouse.
Delshah Capital Buys Manhattan Apartments, Plans Renovations
The company acquired 138 Ludlow St., a 1920-vintage, six-story walk-up on the Lower East Side, for $18.9 million.
Construction Begins on $30M Affordable Project in Long Island
Speonk Commons will consist of 66 units, across two development sites in Suffolk County. Several public and private entities provided funding for the project.
NYCHA Partners Up for Affordable Housing Renovations
Including these three new developer alliances, the PACT program will have updated 3,077 apartments with a total investment of $640 million.
Partnership Opens $10M Affordable Community in NY
Built on the site of a former fabric store in Rockland County, N.Y., Nyack Point Apartments features 33 units. The building is LEED certified to the Gold level.
JV Restructures Partnership for Brooklyn Redevelopment
Greenland USA and Forest City Realty Trust reached an agreement to extend Greenland’s ownership interest to 95 from 70 percent and decrease Forest City’s interest to 5 from 30 percent for its Pacific Park Brooklyn mixed-use project.
Berkadia Secures $40M Refi for NJ Community
The 752-unit Brookchester Apartments is a garden-style community in New Milford, N.J., located 20 minutes from New York City.
Manhattan Conversion Project Lands $130M
Eastern Consolidated arranged the construction loan on behalf of Delshah Capital for its adaptive reuse project, which will transform a medical facility into a luxury community in Morningside Heights.