Northeast
Growth Markets for 2015: Upstate New York
Secondary cities in the South and Northwest grab the headlines, but upstate New York is beginning to be recognized for stable recovery and urban reinvention.
Tech-Oriented Affordable Seniors Property Opens in Queens
Selfhelp K-VII, a 92-unit affordable seniors housing property at 137-39 45th Ave. in the Flushing neighborhood of Queens, has opened.
Campus Apartments Completes Shippensburg U. Residence Upgrades
The second phase of a development project to upgrade all on-campus residences at Shippensburg University of Pennsylvania is complete.
TODAY’S DEALS: Cohen Financial Secures $167.6M Construction Loan for Miami Development
Cohen Financial secures a $167.6 million construction loan for Muse in Sunny Isles located at 17141 Collins Avenue; and Meridian Capital arranges $32 million for two mixed-use properties in New York.
Iconic Jersey City Art and Theatre Group Opens At Journal Square
Art House Productions, Inc., a not-for-profit organization dedicated to the advancement of the arts in Jersey City, opened a new 8,300-square-foot building in the revitalized neighborhood of Journal Square.
TODAY’S DEALS: Inland Acquires Newly Constructed Indianapolis Community
Inland Real Estate Picks up a 384-unit asset from Milhaus in an HFF-brokered sale; Gebroe-Hammer closes 13 multifamily sales in July and August; and Meridian Capital brokers $29 million in creative acquisition and construction financing for a boutique condominium project.
Bluejay Management’s 341EPW 65 Percent Leased
Bluejay Management’s recent development, 341EPW, located in Brooklyn’s Crown Heights neighborhood, has surpassed the 65 percent leased mark following its mid-July launch, according to aptsandlofts.com, the exclusive leasing and marketing agent for the building.
Naftali Group Developing 20-Story NYC Condo
The Naftali Group is developing a 20-story condominium at 234 East 23rd St. in Manhattan’s Gramercy district.
PBM Adds Two Executives to its Senior Management Team
Perfect Building Maintenance (PBM), a building maintenance companies, announced the addition of two executives to its senior management team. Ronald Fay has been appointed general manager, a position created specifically for him. Patricia O’Brien joins as senior account executive.
Candlebrook Introduces 251 DEKALB in King of Prussia, Pa.
New York-based owner and operator Candlebrook Properties has unveiled a new amenities-rich luxury redevelopment in the Philadelphia suburb of King of Prussia, Pa. Occupancy is slated for this summer, with completion of the 641-unit community scheduled to be completed through various phases through 2016.