Northeast
Community Builders Procures $38M to Develop NY Apartments
Cottage Place Gardens Phase III is a 70-unit, mixed-income property in Yonkers. The project involves the replacement of a 1940’s housing project and a deteriorated townhouse.
Delshah Capital Buys Manhattan Apartments, Plans Renovations
The company acquired 138 Ludlow St., a 1920-vintage, six-story walk-up on the Lower East Side, for $18.9 million.
Construction Begins on $30M Affordable Project in Long Island
Speonk Commons will consist of 66 units, across two development sites in Suffolk County. Several public and private entities provided funding for the project.
NYCHA Partners Up for Affordable Housing Renovations
Including these three new developer alliances, the PACT program will have updated 3,077 apartments with a total investment of $640 million.
Philly Community Aimed at Millennials Lands Financing
Located in a walkable neighborhood and close to art galleries and event venues, the project is slated to include a 5,500-square-foot commercial component.
Partnership Opens $10M Affordable Community in NY
Built on the site of a former fabric store in Rockland County, N.Y., Nyack Point Apartments features 33 units. The building is LEED certified to the Gold level.
JV Restructures Partnership for Brooklyn Redevelopment
Greenland USA and Forest City Realty Trust reached an agreement to extend Greenland’s ownership interest to 95 from 70 percent and decrease Forest City’s interest to 5 from 30 percent for its Pacific Park Brooklyn mixed-use project.
Woodmont Properties, Baker Residential Start Construction on NJ Assets
The joint venture is developing a 220-unit community in Bayonne, which is expected to be completed in the spring of 2019.
CBRE Closes Sale of Garden-Style MA Community
After the expiration of the original affordable restrictions, the 102-unit community in Stoughton, Mass.,underwent significant renovations, including landscaping and parking improvements.
Fairfield Residential Sells 133-Unit Boston Asset
CBRE facilitated the sale of Baker Chocolate Factory Apartments, a three-building property converted for residential use in the 1980s.