Northeast
Top 5 NYC Multifamily Sales
PropertyShark compiled the top 5 multifamily sales for May 2017 in New York City.
Inspirit Nabs 2 PA Senior Living Facilities
The Palmerton and The Willow are the latest additions to an extensive new regional network planned by the company. Additionally, Inspirit intends to renovate both assets.
Sales Velocity Ramps Up at Brooklyn Waterfront Condos
The Austin Nichols House is making a splash in the highly sought-after neighborhood of Williamsburg, in Brooklyn, N.Y., where sales have accelerated, despite the impending shutdown of the L subway line, which connects the locale to Manhattan.
NEI Begins Construction on Newest TOD in MA
The six-story development will be adjacent to the Beverly Depot commuter train station. The 112 Rantoul St. team includes women-owned businesses Barnat Development, ICON Architecture and McDermott Ventures.
10 Markets with the Greatest Occupancy Loss
Supply growth is outpacing demand in many areas, causing a decrease in occupancy rates. Here is a list of the 10 markets with the greatest loss in occupancy year-over-year as of April 2017.
Maplewood Senior Living Breaks Ground on $270M NYC Community
The 215-unit development featuring assisted living, enhanced care and memory care introduces the company’s Inspir brand, which was created to deliver a new option for older adults seeking senior residences.
PA, NJ Portfolio Commands $34M
TNJ Properties acquired Orchard Drive Associates’ 264-unit Orchard Drive Apartments in Whitehall, Pa., and Presidential Associates’ 268-unit Presidential Court Apartments in Runnemede, N.J.
HUD, HCR, MDG Partner for $160M Bronx Preservation
Michelangelo Apartments, a 494-unit affordable building, is a 43-year-old Mitchell-Lama community that will be renovated and preserved as affordable for another 40 years as a result of the deal.
Leasing Starts at Post Brothers’ The Duchess
The 320-unit luxury apartment building is slated for completion later this year, and it is the firm’s first New Jersey project. Paris Forino and Vijay Kale Architects oversaw the building’s design.