Northeast
Stonehenge NYC Names New VP
The firm hired Kunal Chothani, an industry professional who will serve as vice president of acquisitions. Prior to this role, Chothani was head of the New York subsidiary of Akelius Residential Property AB, where he managed transactions and assets valued at more than $1 billion.
Multifamily Brooklyn Report – Winter 2019
Despite a significant rise in deliveries, rents for Lifestyle units grew 3.4 percent and the occupancy rate stayed at 98.1 percent, among the highest in the U.S.
Former MA Dormitory Turns Into Affordable Community
Kennedy Hall at Cardinal Cushing Center found new life as the 37-unit Bethany Apartments. NEI General Contracting, The Architectural Team and Horsley Witten Group were part of the project.
Upscale Senior Living Community Coming to Suburban Philadelphia
South Bay Partners and LAMB Properties have joined forces to develop a 250-unit luxury senior housing community which will focus on holistic aging. The project is slated for completion in early 2021.
MD Apartments Change Hands in $87M Deal
The Donaldson Group partnered with Declaration Capital and a fund managed by DRA Advisors to acquire a 592-unit garden-style community in Silver Spring, with plans to renovate the asset in the year ahead.
RI Community Opens for Leasing
River House features 270 beds in a live-work-play area in downtown Providence. The community offers convenient access to the various universities.
Manhattan Luxury Asset Gets $200M Refi
Greystone Bassuk arranged the 10-year, fixed-rate loan for the property’s owners, a joint venture between Taconic Investment Partners LLC and Mitsui Fudosan America Inc.
Equity Residential Acquires Jersey City Community
Madox is a 131-unit LEED Silver certified building located in the Paulus Hook neighborhood. J.P. Morgan Asset Management was the seller.
Closeup on the Bronx Affordable Housing Market
Developing and preserving affordable units in the dynamic borough of New York City is a genuine challenge. MBD’s Derrick Lovett and Monadnock’s Tom Ciano weigh on the borough’s affordable housing shortage and discuss the companies’ recent multifamily projects.
Multifamily Manhattan Report – Winter 2019
Despite strong demand, apartment construction across the borough has slowed, while the average rent is approaching the $4,200 mark.