Northeast
Jonathan Rose Begins Leasing Brooklyn Community
Caesura, named after a pause in the middle of a line of music or poetry, features 123 studios and one- and two-bedroom apartments, in addition to 34 furnished micro units. Move-ins will begin in February 2018.
Greystone Appoints New CEO
Thomas Ryan, who has been with the company since 1999, will be replacing current CEO Jeff Simpson in January 2018.
Stamford Community Commands $67M
TH Real Estate sold The Wescott Apartments in Stamford, Conn., to a New Jersey-based investor, while Pensam Residential and Freddie Mac provided a preferred equity investment to facilitate the acquisition.
Meridian Sells 2 Brooklyn Apartment Buildings
The East Flatbush Portfolio, comprising two elevator buildings, has been sold for $26.5 million. The corner location and up-to-date condition of the properties require no additional maintenance.
Tower at One Greenway Changes Hands
Located in downtown Boston, the 217-unit residential community was acquired by PGIM Real Estate. Tower at One Greenway is LEED-certified, offering more than 3,000 square feet of ground-floor retail space.
Woodmont Breaks Ground on Luxury NJ Community
Woodmont Bay Club Bayonne will comprise 220 units spanning four acres. Construction is slated for completion in the spring of 2019.
LichtensteinRE Closes $11M All Cash Sale
The off-market sale of the renovated multifamily property in the Bronx’s Tremont neighborhood offers an excellent investment opportunity as rents increase.
Brooklyn Development Lands $15M
The bridge loan will finance a three-building development of residential units over street-level retail in an accessible part of the city’s Bedford-Stuyvesant neighborhood.
Philly Apartment Portfolio Trades for $8M
The two properties are within five minutes’ distance of each other. New ownership will seek to improve value by renovating specific aspects of the communities.
Transit-Oriented Development Accelerates in Queens
An expanding pipeline and affordability issues are putting pressure on rent growth, but the borough’s multifamily market continues to show signs of long-term stability, due to New York’s overall strong fundamentals.