Northeast
830-Acre Purchase Paves Way for $2.5B Smart Growth Community
LNR Property LLC, developer of the SouthField master-planned community outside of Boston in Southfield, Mass., has just wrapped up the acquisition of the final 830 acres required to bring the 1,400-acre, $2.5 billion project to fruition.
Residential Component Likely at Proposed Javits Center Redevelopment
Gov. Andrew Cuomo recently proposed replacing the convention center, opening up its location for redevelopment and the neighborhood of Hell’s Kitchen’s access to the Hudson River.
Judge Says Zell Can Bid on Archstone
Judge James M. Peck of the U.S. bankruptcy court in Manhattan dealt a blow to the effort by Lehman Brothers Holdings Inc. to prevent Barclays and Bank of America from giving Equity Residential Properties an option to buy 26.5 percent of multifamily landlord Archstone.
Boston Suburb the Site of Newest Legacy Park Apartment
The Federated Cos. announced earlier this week that it has purchased a 12-acre site in Wilmington, and plans to construct an MGL Chapter 40-B mixed-income rental community featuring a total of 108 units, to begin pre-leasing in early 2013.
Rosen Partners, Russian Conglomerate Join Forces on Joint Venture
New York-based Rosen Partners LLC is entering a joint venture with Alfa Group, one of Russia’s largest privately owned financial-industrial investment conglomerates.
Premier Boutique Condo Property on Park Avenue Secures TCO
The upscale Manhattan boutique condominium property known as 949 Park Avenue has just received a Temporary Certificate of Occupancy.
$60M Adaptive Reuse Project Kicks Off in N.J.
An industrial facility in the Garden State that first opened its doors in 1897 will soon be reborn as a modern multifamily destination now that Prism Capital Partners LLC has broken ground on the first phase of The Parkway Lofts.
Wartburg Puts Financing in Place for Affordable Seniors Housing
Wartburg Adult Care Community has completed the financing for Friedrichs Residence, a four-story building with 61 affordable senior apartments on a 34-acre site in Mt. Vernon, N.Y.
Work Begins on Fort Lee Apartments
BNE Real Estate Group has broken ground on Twenty50, a 194-unit apartment building near the George Washington Bridge in Bergen County, N.J., across from the uppermost reaches of Manhattan.
MiMA Condos Go Rental
The Related Cos. is putting 151 more residences at its development MiMA on the market as rental apartments, instead of the condos they were planned as under the name One MiMA Tower.