Northeast
Affordable Housing for People with Special Needs Coming to Wallkill, N.Y.
The Community Preservation Corporation, a not-for-profit mortgage lender financing multifamily development throughout New York, has closed on a $7.95 million construction loan to develop Sunrise Apartments in the town of Wallkill, N.Y.
Upbeat Assessment in Ariel Property Advisors’ Q2 Report
Ariel Property Advisors’ second quarter multifamily report indicates New York City multifamily transactions increased 48 percent in the second quarter of 2012, vis-à-vis the same period one year earlier.
Boston Apartment Market Sees Mixed 2Q Rental Rate Movements
A subsidiary of Zillow, RentJuice, reports that average asking apartment rents climbed by 4 percent in the Boston metro area in the second quarter of 2012, those same neighborhoods saw the effective cost of rental space drop.
TF Cornerstone Finding Great Interest in New Long Island City Community
In just five weeks on the market, Manhattan-based TF Cornerstone’s newest residential tower located at 4540 Center Boulevard is already close to 60 percent leased.
UDR Closes $297.7M Multi-State Apartment Portfolio Sale
The UDR Multi-State Portfolio sale, which was inked earlier this year, has been finalized.
Picerne Military Housing Expands into the Student Housing Market
Picerne Military Housing, announced today that it is expanding to the student housing market with the launch of a new parent company called Corvias Group, and a new student housing division called Corvias Campus Living.
Unithree Completes $12M Rehab of Staten Island Affordable Housing Development
Unithree Investment Corp. has completed a $12 million improvement program on the Parkhill Affordable Housing Complex in Staten Island.
New Affordable Housing Opens in Bed-Stuy
Madison Putnam, a new 48-unit affordable housing development in the Bedford-Stuyvesant section of Brooklyn, N.Y., has opened.
Apartment Rents Still Ballooning in Manhattan
Landlords have it good in Manhattan, at least in terms of a recovery in rental rates in recent years, according to a new report by Real Impact Real Estate.
Historic Gothic Building Redeveloped into Luxury Apartment Community
It is possible to have all the charm of an old building with all the conveniences and luxury of a new one, as 806 Capital and Federal Capital Partners are proving with The Arch, a historic gothic building open for pre-leasing of luxury apartments.