Northeast
WNC Closes $102M LIHTC Fund
The fund will finance construction or rehabilitation of a huge portfolio spanning 12 states.
Top 10 NYC Multifamily Sales in July 2016
PropertyShark has compiled the 10 priciest multifamily property sales recorded in July 2016 in New York City. Keep reading to discover which areas were most popular, the types of deals being done, who some of the top deal makers are this summer and the borough that surprisingly claimed the top spot. Sale Price: $121,000,000 This seven-parcel deal includes properties at: 20-05 Shore Blvd. 20-25 Shore Blvd. 20-11 18th 20-32 19th 20-31 19th 20-11 20th 20-12 20th This new acquisition adds 444 Section 8 units to The Related Cos.’ portfolio. The firm has applied to add 53 more affordable housing…
Boston-Area Community Commands $40M
The 220-unit Andover Place was completed in 1989 and last changed hands two years ago for a little less than $38 million.
Blackstone Finalizing Deal to Buy Kips Bay Court for $620M
The buyer in last year’s largest New York City multifamily transaction will also top this year’s charts when the deal closes.
Berkadia Expands in Philadelphia, Adds Managing Director
In his new role, Matt Stefanski will be responsible for expanding Berkadia’s investment sales platform in the Northeast.
Top 10 NYC Multifamily Sales in June 2016
PropertyShark has compiled the data and we’ve got the priciest multifamily property deals recorded in New York City in June. Read on to find out how each borough performed: 1. Sales Price: $139,600,000 Known as The Hamilton, this Yorkville tower with 265 residential units transferred last month in an uncharacteristic move by high profile developer Glenwood Management. Crain’s New York reports that the new owner, Bonjour Capital, may invest an additional $20M in upgrading the lobby, gym, and other amenities, though union workers fear their wages may be cut in half by the new buyer. 2. 3418-3446 91…
Cronin Plans $260M High-Rise on Boston Waterfront
Two restaurants would make way for a 22-story, 124-unit condominium building.
NJ Affordable Housing Nabs $75M Refi
Love Funding provided the financing to the two properties.
Mixed-Use Washington Village Wins Boston’s Blessing
The community will rise on a former South Boston industrial site.
Extell, SMI USA to Develop $3B Residential Tower in NYC
The partnership will co-develop Central Park Tower on Billionaire’s Row, creating the tallest residential building in the Western Hemisphere.