Northeast
CPC Refinances Syracuse Apartment Community
The Community Preservation Corp. has provided a $5.48 million loan to refinance a mortgage on the Remington Gardens apartments in Syracuse.
Shimon Shkury Addresses Israel-America Chamber of Commerce in Tel Aviv
Shimon Shkuryy, president of Ariel Property Advisors, addressed about 200 attendees at the Israel-America Chamber of Commerce’s Third Annual Real Estate Seminar in Tel Aviv.
Co-Op City Gets $621M Refi
The long and storied history of Co-op City in the Bronx added another chapter recently when owner Riverbay Corp. and Wells Fargo closed on a deal to refinance the mortgage on the property to the tune of $621 million.
Red Capital Analytics Introduces the Industry’s First Comprehensive Suite of Price Indices for Commercial Real Estate
Real Capital Analytics (RCA) recently announced the launch of the RCA Commercial Property Price Indices (RCA CPPI).
Ground Broken on Hudson Yards, The Largest Undeveloped Property in Manhattan
Construction began today at Hudson Yards, formerly the largest undeveloped property in Manhattan. Related Companies and Oxford Property Group broke ground on the site, which, when completed, will feature retail space and 5,000 residences.
Post Brothers Incorporates VITA Technology to Enhance Worker Safety
In a move that sets it apart from other real estate and construction companies, Post Brothers Apartments recently announced it will implement the VITA Products Inc. Emergency Response Profile (ERP) Safety Platform for its workforce.
First Phase of Suburban Boston Apartments Open
The first phase of Alta Brigham Square in Arlington, an inner suburb of Boston, has opened.
Brooklyn Skyscraper to be Completed Using Modular Construction
Skanska USA and Forest City Ratner Companies are breaking ground on B2, the first residential tower that is part of the Atlantic Yards Development in Brooklyn, N.Y.
Economy Watch: Fed Says Growth at “Measured Pace”
The Federal Reserve released the latest Beige Book and for the moment, the central bank isn’t characterizing the U.S. economic as experiencing “moderate” or “modest” growth.
UDR Lower Manhattan Properties Fully Functional
Damage estimates from Hurricane Sandy, which roiled the Northeast a month ago, are still coming in. Multifamily specialist UDR has reported that it estimates that the storm caused total damages to the properties of between $28 million and $32 million.