Northeast
Naftali Group Acquires Large Block of Buildings in Chelsea for $20.1M
The Naftali Group has acquired five contiguous buildings in the Chelsea submarket, located at 261-267 West 25th St., for a total cost of $20.1 million. The company plans to demolish the entire existing structures to develop a 12-story luxury residential condominium containing 108,393 square feet.
WXY + West 8 Makes Short List in ‘Rebuild by Design’ Challenge
The WXY + West 8 Team has been chosen as one of 10 international teams that will take part in Stages 2 and 3 of “Rebuild By Design,” a design competition aimed at promoting resilience in the region affected by Hurricane Sandy.
Hell’s Kitchen Transformation Underway with Gotham West Opening
This month marks the highly anticipated opening of Gotham West, the 32-story, 554-unit luxury apartment community in Hell’s Kitchen. Surrounded by 10,000 square feet of landscaped outdoor space, Gotham West is located at 550 West 45th St. on the corner of 11th Ave., and was developed by Gotham Organization, Inc., a company no stranger to Hell’s Kitchen.
MassHousing’s David Keene Elected as VP of National Leased Housing Association’s Board of Directors
MassHousing’s David Keene has been elected to serve a one-year term as vice president on the National Leased Housing Association Board of Directors.
The Urban Strategy America Fund Invests in 151-Unit Affordable Community
The Urban Strategy America Fund, a fund at New Boston Fund has closed on the permanent financing for the third financial rental phase of Olmsted Green, a community in Boston.
New Boston Fund Names Dan McGrath Assistant VP
Boston—New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced the promotion of Dan McGrath to assistant vice president, where he will work alongside the Northeast development team and the national asset management team. McGrath was recently integrated into New Boston Fund’s development team for One Greenway, a planned 362-unit mixed-income development bordering Boston’s Chinatown neighborhood and the Rose Kennedy Greenway. The project will include 312 apartment units in a 21-story tower, along with ground floor retail and community space, a 1/3 acre of publically accessible open space and 50 affordable condominiums. As part of this…
$10M Loan Closed for Affordable Housing in Mass.
MassHousing has closed on $10.1 million in loans for the renovation and preservation of affordability at the 108-unit Kings Landing in Brewster.
Institutional Buyer Pays $99M for Stamford Apartments
Clarion Partners has acquired Infinity Harbor Point, a 242-unit apartment high rise in Stamford, for $98.8 million.
MNS Begins Sales of Williamsburg Townhomes
MNS, a real estate brokerage firm specializing in New York City residential properties, was named the exclusive sales and marketing agent for the Williamsburg Townhomes by developer, Magnum Real Estate Group
DeMatteis and Mattone Find Success with Luxury Apartments in NYC
Co-developers the DeMatteis Organizations and the Mattone Group have sold over 80 percent of its Upper East Side luxury high-rise community Azure, with fewer than 17 residences remaining—all Tower Residences, which are the high-floor homes with sweeping NYC views.