New York
Madison Realty Capital Provides First Mortgage Loan for 72nd St. Conversion in Manhattan
The five-story Vanderbilt Mansion is ready for redevelopment into a 7-story, 18,412-square-foot property encompassing three luxury condominium units.
Vesper Holdings Launches New Student Housing Management Brand Campus Life & Style
By taking ownership of the daily operations through Campus Life & Style, Vesper Holdings will control the property management for its more than 10,000 beds across 12 markets, creating a hospitality experience for residents similar to that of a boutique hotel.
Greystone Development Acquires Sag Harbor Property
The waterfront property will be included in the planned 11 residences designed by renowned architect Robert A.M. Stern.
Manhattan Residential Sales Fewer in Number, But Higher in Price
The average price of a condo in New York City was $3.2 million in March, and the average price of a co-op was $1.3 million.
Moinian Group Builds up Manhattan’s Far West Side
The Moinian Group continues its long-term investment in Manhattan’s Hell’s Kitchen with a 165-unit residential project at 572 11th Ave. and a Class A office tower in the Hudson Yards district.
On the Market: This Week’s 5 Most Interesting CRE Listings
Check out this week’s most interesting CRE listings across the country.
City Council Approves de Blasio’s Affordable Housing Programs
The NYC City Council approved two major components of Mayor de Blasio’s affordable housing plan with the passing of the MIH and ZQA programs.
KRE Group, Oxford Realty Buy Deer Creek for $45M
The partnership has teamed up again to purchase a 288-unit apartment community that fits with their strategy of scooping up properties with value-add potential.
New Queens Apartments 50 Percent Rented in a Matter of Weeks
The 62-unit property, developed by Tsilo Group on the site of a former lumber yard at 30-40 21st St., is a mix of studios and one- and two-bedroom units.
Top 10 NYC Multifamily Sales in February 2016
February’s recorded sales show a strong demand for multifamily apartment buildings in New York. Manhattan led the pack, with multiple package deals that could promise exciting new redevelopments. Brooklyn, Queens and even the Bronx make appearances, too. Check out the most expensive transactions, and the latest data from PropertyShark. 1. 420-423 E. 54 St., Manhattan Sale Price: $390,000,000 Buyer: River Tower Owner, LLC Seller: EQR-River Tower A, LLC East Midtown’s RiverTower building tops February’s recorded sales at a healthy $390M. While it sold at significantly less than was predicted by The Real Deal, Sam Zell’s Equity Residential was rumored…