Northeast
New York City Residential Market Sees Positive Signs, But Multifamily Foreclosures Increased, Says Report
New York–Like anywhere else, New York has suffered the slings and arrows of the recession and housing slump, but according to the latest report by the Furman Center for Real Estate & Urban Policy, some positive signs emerged last year.
AKA Flexible-Stay Apartment Properties to Get $10M Makeover
New York–Korman Communities, owner of the AKA portfolio of flexible-stay apartments, is submitting four of its properties to upgrades at a total cost of $10 million.
Extell’s Riverside Center on Track for Late 2010s Completion
New York–The 3 million square-foot mixed-use Riverside Center is on track, and will include 2,500 apartment units and a 250-room hotel.
Phoenix, Orbach Form JV to Own Midtown Manhattan MF
New York–Phoenix Realty Group and the Orbach Group have formed a partnership that has acquired an interest in a 13-building residential portfolio on West 49th Street in Manhattan.
Historic Property in Maine to Become Affordable Seniors Housing
Lewiston, Maine–After having been vacant for about six years, the historic 81 Ash St. in Lewiston will be converted into an affordable 32-unit multifamily residence for seniors.
Boston Green Lights 385-Unit Apartment Project
Boston–Development of The Kensington has taken a big step forward with the Boston Redevelopment Authority signing off on plans for the $172 million project.
Griffin Court Condo Helps Drive Transformation of Hell’s Kitchen
New York–Griffin Court Condominium are helping Hell’s Kitchen become an increasingly artistic and coveted neighborhood in Manhattan.
Berman Joins Ariel Property Advisors
New York–Jonathan Berman has joined Ariel Property Advisors as a vice president for investment sales with responsibility for multifamily and development properties in Brooklyn.
NYC and N.J. Returning to Pre-Recession Levels
Manhattan’s outer boroughs and Northern New Jersey see upside potential in high barrier-to-entry locations.
Rising Trend in Multi-Generational Household Formations in N.J.
Manahawkin, N.J.–In New Jersey, the cohabitation among generations has expanded in scope to encompass multiple generations, according to BD Movers.