Northeast
Historic Rhode Island Property Receives Financing for More Apartments
East Providence, R.I.–Rumford Center, the mixed-use redevelopment of a historic mill complex, has obtained $15.5 million to complete the residential aspect.
International Buyers Attracted to Condos in New York and Miami
New York–Two luxury condominiums developed by Africa-Israel USA are attracting international buyers from countries including China, Italy, Brazil, Russia and Singapore.
New Condos Coming to 250 West St. in Tribeca
New York–The early-20th-century building at 250 West St. in Manhattan’s Tribeca neighborhood is in the midst of being reborn as a luxury condominium development.
MARKET SNAPSHOT: New York Experiences Decline in Transaction Volume; New Capital Comes to Market
New York–New York experienced a decline in transaction volume in May, according to Ariel Property Advisors’ Multifamily Month in Review.
Preserving New Haven’s Past Is Goal of School Renovation
New Haven, Conn.–The historic Lovell School will soon enjoy a second life as an 18-unit apartment complex, thanks to a $1.5 million loan financing deal.
Vantage and Angelo, Gordon & Co. Acquire AIG’s Jersey Multifamily Portfolio
New York–Vantage Properties and Angelo, Gordon & Co. have acquired AIG’s Central New Jersey Multi-family Portfolio, comprised of six multifamily rental properties totaling 2,200 units.
Elizabeth, N.J., Celebrates Completion of Waters Edge Crescent
Elizabeth. N.J.–The opening of Waters Edge Crescent marks the completion of the Elizabeth’s 14-year initiative to demolish approximately 650 distressed public housing units and rebuild the same number of newly constructed modern affordable housing units.
Deal Closings Will Preserve Affordable Housing in Bronx
Enterprise Community Partners have closed two preservation deals, valued at about $33 million, helping more than 1,450 low-income families access affordable housing in the Bronx.
Upper West Side Property Shifts Gears to Rental
New York–The nine full-floor residences at 208 West 96th Street, developed by Manor Properties Group LLC, are no longer for sale. Instead, according to Manor Properties, the three-bedroom, three-bath units will be for rent, with the decision to go rental made in response to feedback during the initial marketing stages of the property’s sales campaign.
New Jersey Mixed-Use Property Recognized for Brownfield Redevelopment
Stafford Township, N.J.–Brownfield Renewal magazine recently honored the developer of Stafford Park, a mixed-use development in Stafford Township, N.J., with a Brownfield Renewal Award at the 14th National Brownfields Conference held in Philadelphia. The Stafford Park development, which was undertaken by the Walters Group, has a major multifamily component in the form of Stafford Park Apartments.