New York
WinnCos. Eyes $19M Rehab for NJ Affordable Community
The firm plans to make significant interior and exterior upgrades to the newly acquired Bridgeton Villas Apartments, a 156-unit community in Bridgeton, N.J.
RXR to Develop 28-Story Mixed-Use Towers in New Rochelle
Anchors of the New York City suburb’s $4 billion redevelopment plan, the two high-rises will comprise about 700 units between them. City officials are eyeing up to 12 million square feet of new construction.
Lower Average Loan Sizes Are Likely
Rising interest rates have yet to strongly impact the multifamily market, as specialists are confident the market will continue to see healthy fundamentals in the near future. While loan origination volumes are expected to stay up, the average value of credit facilities might dip.
MHN’s Top 5 July 2017 Articles
Miss out on any MHN stories in July? Here are five of our most popular articles for the month, including the top 10 apartment owners in Atlanta and design trends and products from NAA’s Education Conference & Exposition.
Affordable NJ Community Changes Hands
The new owner acquired Berkeley Terrace for a price tag of $12.2 million and plans to invest in extensive renovations. The project is slated for completion by August 2018.
Omni Breaks Ground on $68M Affordable Bronx Community
The 15-story Morris II Apartments will comprise 154 units with a 4,000-square-foot ground-floor community space, and 30 percent of the units will be permanently affordable.
Corcoran Sunshine Marketing Group Makes Promotion
With more than 11 years at the company, Norma-Jean Callahan will head up sales efforts for the newly launched Waterline Square, a 2.2 million-square-foot luxury condominium project in Manhattan.
Post-Recession Apartment Boom Earns Long Island City Top Spot
Of all the apartment construction we witnessed in the past few years, 10 U.S. neighborhoods stand out for the greatest numbers of apartments built in the post-recession rental boom era.
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for June 2017 in New York City.
Greystone Secures Largest HUD Loan for Nursing Facility
The $78.4 million refinancing for the 510-bed property in Brooklyn, N.Y., follows a $20 million capital improvement plan implemented by Centers Health Care.