New York
New Jersey Community Wins $73M in Financing
Vermella Harrison is a newly built, 398-unit community providing easy access into Manhattan.
Top 10 NYC Multifamily Sales in July 2016
PropertyShark has compiled the 10 priciest multifamily property sales recorded in July 2016 in New York City. Keep reading to discover which areas were most popular, the types of deals being done, who some of the top deal makers are this summer and the borough that surprisingly claimed the top spot. Sale Price: $121,000,000 This seven-parcel deal includes properties at: 20-05 Shore Blvd. 20-25 Shore Blvd. 20-11 18th 20-32 19th 20-31 19th 20-11 20th 20-12 20th This new acquisition adds 444 Section 8 units to The Related Cos.’ portfolio. The firm has applied to add 53 more affordable housing…
Blackstone Finalizing Deal to Buy Kips Bay Court for $620M
The buyer in last year’s largest New York City multifamily transaction will also top this year’s charts when the deal closes.
Top 10 NYC Multifamily Sales in June 2016
PropertyShark has compiled the data and we’ve got the priciest multifamily property deals recorded in New York City in June. Read on to find out how each borough performed: 1. Sales Price: $139,600,000 Known as The Hamilton, this Yorkville tower with 265 residential units transferred last month in an uncharacteristic move by high profile developer Glenwood Management. Crain’s New York reports that the new owner, Bonjour Capital, may invest an additional $20M in upgrading the lobby, gym, and other amenities, though union workers fear their wages may be cut in half by the new buyer. 2. 3418-3446 91…
Extell, SMI USA to Develop $3B Residential Tower in NYC
The partnership will co-develop Central Park Tower on Billionaire’s Row, creating the tallest residential building in the Western Hemisphere.
Hines, Welltower Tap Sunrise Senior Living for NYC Project
Sunrise Senior Living was chosen to operate an upcoming senior living community under development by Welltower and Hines in Midtown Manhattan.
Completed Financing Paves Way for Harlem Affordable Housing
Thanks to the financing, 549 apartments in 18 buildings will remain affordable to low-income tenants for the next 40 years.
Jersey City Luxury Apartments Land $156M in Financing
HFF secured the construction loan for 90 Columbus, a 539-unit luxury apartment tower in the Grove Street District.
Q&A with Southern Land CEO Tim Downey
As his development company turns 30, Downey talks strategy and sizes up the market.
Multifamily Permits Drop in New York
Permits declined by more than half in the 12 months after the demise of the 421-a program.