Northeast
Study Shows Multifamily Industry Contributes $5.7 Billion to N.J.
In a new study, the New Jersey Apartment Association and the Edward J. Bloustein School of Planning and Public Policy at Rutgers revealed that the economic contribution of the multifamily industry is a significant component of the New Jersey economy.
Ironstate and KRE Team Up to Bring 422 Luxury Rentals to Jersey City
Ironstate Development Company and Kushner Real Estate Group have begun construction on a new multi-faceted project comprising a 422-unit luxury rental building and a new state-of-the-art facility for The Boys & Girls Clubs of Hudson County, in Jersey City.
TODAY’S DEALS: Ariel Property Advisors Sells Nine-Building Multifamily Portfolio For $33.25M
Ariel Property advisors sells a nine-building multifamily portfolio for $33.25 million; and NorthMarq Capital arranges $27.7 million through a life insurance company.
Purchase of 71 Laight St. to Result in Luxury Condo Development
With the purchase of the landmarked 71 Laight St. by real estate firm Taconic Investment Partners and certain funds managed by Oaktree Capital Management, plans are underway to incorporate the existing building into a newly built luxury, loft-style condominium to open in 2014.
Robust New Jersey Development Buoying Optimism
An unprecedented number of new multifamily units now or soon to be underway in northern New Jersey has market observers keenly focused on the development pipeline.
Washington Heights Property Receives $21.5 Million for Rehabilitation
A Washington Heights affordable housing building will receive $21.5 million in financing to fund extensive rehabilitation on the property.
Brooklyn Heights Condo Project Reports Brisk Sales
The appetite for condos seems to be back in certain markets, such as parts of New York, if buyers’ enthusiasm for buying them is any indication.
Condo-Quality Living Appeals to Renters in Long Island City
Crescent Club, which was purchased by Meadow Partners and Simon Development Group, was originally developed as condominiums and now features 130 rental units.
Sterling Parc at Middletown Proclaims Leasing Success
The first building at Sterling Parc at Middletown is now fully leased.
Brooklyn to Get Hotel and Condos in One Community
Recently, Toll Brothers City Living and Starwood Capital Group announced that they have been selected to develop a luxury and eco-friendly hotel called 1 Hotel, and condominium community at the Brooklyn Bridge Park.