Northeast
Supply Compresses Rent Growth in Manhattan
Employment growth persisted this year, despite some significant losses in the information and manufacturing industries. Meanwhile, investment activity has started to slow.
BPDA Approves 660-Unit Brighton Development
The approximately 600,000-square-foot project, developed by Cabot, Cabot & Forbes, will include 98 affordable units and 510 parking spaces.
Former Maine Church Becomes Senior Housing Community
The construction of St. Ignatius, a 66-unit senior housing community in Sanford is now complete. WNC provided $8.6 million in LIHTC equity to help fund the project.
JV Closes Refi of Affordable NJ Property
The Diocesan Housing Services Corp., MDG Design + Construction and Hudson Valley Property Group will help maintain the affordability of 205 units in Cape May for the next two decades.
JV Invests $23M in Boston-Area Community
Blackfin Real Estate Investors and True North Management Group purchased The Bixby in Haverhill, Mass. The property’s previous owners recently completed renovations.
Mixed-Income Community Breaks Ground in MA
A joint venture is developing Mass+Main, a $190 million project that will feature 248 market-rate and 60 affordable units. The property is slated for a mid-2020 completion.
City Tower Brings Luxury to Downtown Brooklyn
Multi-Housing News recently took a trip to downtown Brooklyn for a tour of The Brodsky Organization’s City Tower. Read on for an inside look at the luxury community.
North American Properties Unveils NJ Mixed-Use Development Plans
Riverton, a 418-acre waterfront redevelopment on the Raritan River in Sayreville will be the largest mixed-use project in the state.
What’s Changing With Family Capital Investment
Family investment firms are making their mark in the multifamily industry. Post Brothers’ Matthew Pestronk weighs in on this trend and the challenges in the industry for companies managing family capital.