Northeast
Q&A: NYC Investment Post Rent Reform
Robert Morgenstern, founder of Morgenstern Capital, explains why the next growth story in the Big Apple’s multifamily landscape is about the right submarkets and new verticals.
Brooklyn Mixed-Use Project Scores $35M Refi
Greystone’s new financing package pays down a prior $28 million loan from Madison Realty Capital.
Phase 1 of $300M Bronx Development Begins
More than 180 units will be built in the initial phase of the Peninsula, a five-building development on the former site of a juvenile detention facility.
CAPREIT Acquires Delaware Community
Greysteel’s Ari Firoozabadi and Henry Mathies acted on behalf of the seller and procured the buyer for Vinings at Christiana.
Newark Affordable Housing Breaks Ground
The Michaels Organization and its partners began work on Somerset Brownstones, a $19 million development in New Jersey’s Central Ward neighborhood.
Northern New Jersey Community Sells for $40M
Santander Bank provided $29.4 million in acquisition financing for the purchase of the 123-unit community in Morrisville.
Brooklyn Affordable Community Breaks Ground
Trinity Financial Inc. and the New York City Housing Authority are bringing the 180-unit property to the borough’s Brownsville neighborhood.
Jersey City Community Scores $168M Loan
The financing will fuel construction of a 350-unit rental tower as part of a planned 1,000-unit development.
Queens Property Lands $121M Loan
Treetop Development obtained the financing for 711 Seagirt, a 917-unit asset in the Far Rockaway neighborhood.
Queens Multifamily Report – Fall 2019
Unrestrained by this summer’s new statewide regulations, rents in the New York City borough rose sharply over the past two quarters.