New York
Greystone Appoints New CEO
Thomas Ryan, who has been with the company since 1999, will be replacing current CEO Jeff Simpson in January 2018.
Stamford Community Commands $67M
TH Real Estate sold The Wescott Apartments in Stamford, Conn., to a New Jersey-based investor, while Pensam Residential and Freddie Mac provided a preferred equity investment to facilitate the acquisition.
Meridian Sells 2 Brooklyn Apartment Buildings
The East Flatbush Portfolio, comprising two elevator buildings, has been sold for $26.5 million. The corner location and up-to-date condition of the properties require no additional maintenance.
Woodmont Breaks Ground on Luxury NJ Community
Woodmont Bay Club Bayonne will comprise 220 units spanning four acres. Construction is slated for completion in the spring of 2019.
LichtensteinRE Closes $11M All Cash Sale
The off-market sale of the renovated multifamily property in the Bronx’s Tremont neighborhood offers an excellent investment opportunity as rents increase.
Brooklyn Development Lands $15M
The bridge loan will finance a three-building development of residential units over street-level retail in an accessible part of the city’s Bedford-Stuyvesant neighborhood.
Transit-Oriented Development Accelerates in Queens
An expanding pipeline and affordability issues are putting pressure on rent growth, but the borough’s multifamily market continues to show signs of long-term stability, due to New York’s overall strong fundamentals.
What Does De Blasio’s Re-Election Mean for NYC Affordable Housing?
During his campaign, Mayor Bill de Blasio pledged to expand his focus on affordable housing. Standard Communities Co-Founders Scott Alter and Jeff Jaeger weigh in on how his re-election will impact affordable housing developers and renters.
Luxury Boutique Community in Brooklyn Hits the Market
Meridian Capital Group will handle the sale of the recently completed Brooklyn Grand, a two-building residential and retail development in Williamsburg.
Largest Rental Markets Flat at the End of the 2017 Peak Rental Season
Although over 80 percent of the nation’s local markets have recorded year-over-year rent growth in September, stagnating or decreasing prices have been noticed in the largest and most expensive cities in the U.S., where renters have long been waiting for some relief.